Am I eligible to study for the Diploma in International Financial Reporting?
If you are a professional accountant or auditor who works in practice or business, and qualified according to national accounting standards, then you are eligible to take Diploma in International Financial Reporting.
If you are working in practice, but not yet qualified, then you may still be eligible. You will need to prove that you have one of the following:
- 3 year relevant accounting experience - submit letter from your employer
- Relevant degree plus 2 years' work experience
- ACCA Certificate in International Financial Reporting plus 2 years' work experience
Registration
You will need to register with ACCA directly in order to sit for the exams which are held in June and December of each year.
Registering with ACCA as a DipIFR candidate
You can register with ACCA at any time of the year though you should ensure that you register in plenty of time to sit the exam at your preferred exam session. Registration must be done directly with ACCA.
You will need to submit your registration form and copies of all your supporting documents at least 20 days before the closing date (if applying by postal delivery) and 10 days before the closing date (if applying online).
The closing dates are as follows:
8 April for the June exam session
8 October for the December exam session
8 October for the December exam session
The easiest and quickest way to apply is online at www.accaglobal.com. You will still need to send copies of your supporting documents by postal delivery to ACCA in advance of the closing dates.
Download the ACCA’s guide to applying online for important information regarding the documentation you need to submit, payment options and key dates.
You will need to provide:
- proof of any qualifications
- proof of identity
- passport-style photograph
The Diploma in International Financial Reporting – what’s included?
If you are a finance professional who is not already knowledgeable about the details of International Financial Reporting Standards (IFRS), this qualification will provide you with a working knowledge of IFRS; not only the concepts and principles but also how to apply them.
The DipIFR is a single paper exam set by ACCA. You can sit for the exam worldwide at an ACCA exam center in June and December of each year.
On completion of the Diploma candidates should be able to:
- understand and explain the structure of the framework of international accounting
- apply relevant financial reporting standards to key elements of financial reports
- identify and apply disclosure requirements for companies in financial reports and notes
- prepare group financial statements (excluding group cash-flow statements) including subsidiaries, associates and joint ventures.
The ACCA website has a lot of very useful and important information which you should make use of throughout your studies including:
- Syllabus and Study Guides
- Past Exam Papers
- Examiners’ Reports
- Examiners’ Guidance
- Technical Articles
Visit the ACCA website for detailed information to review the available resources.
The Diploma in International Financial Reporting: the actual exam
The Diploma in International Financial Reporting (DipIFR) can be studied online to fit your studies around your work and social commitments. The diploma can be completed in three to six months.
DipIFR is assessed by a three-hour written exam held twice a year in June and December.
There are two sections to the paper which requires a mix of calculations and written answers. The assessment marks are split as follows:
| Marks | ||
| Section A | One 'groups' questions | 40 |
| Section B | Three scenario questions | 60 |
| (20 marks each) | 100 |
The pass mark is 50 per cent.
