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ACCA DipIFR Overview
The Association of Chartered Certified Accountants (ACCA) offers a credential called the ACCA DipIFR, a Diploma in International Financial Reporting. This program is crafted for individuals in finance roles who want to amplify their comprehension of International Financial Reporting Standards (IFRS).
The primary objective of the IFRS Exam is to provide participants with an in-depth understanding of IFRS and how to apply them in the real world. The curriculum includes a variety of themes, like the theoretical basis for financial reporting, how financial statements are presented and disclosed, protocols for accounting for business mergers, the concept of fair value measurement, and financial tools and resources.
Acquiring the ACCA DipIFR qualification potentially boosts career opportunities for individuals working in financial reporting roles by demonstrating their high level of proficiency and understanding of international financial reporting standards.
ACCA IFRS Goals
The purpose of the IFRS exam is to ensure attendees gain a thorough comprehension of the fundamental principles, theories, and stipulations of IFRS. The primary goal of the course is to instil participants with the understanding and expertise needed to effectively implement IFRS in practical situations. The following are the core goals of the ACCA IFRS Course:
- Attain an understanding of, and ability to explain and apply, the IASB’s Conceptual Framework for Financial Reporting.
- Apply pertinent financial reporting standards to crucial components of financial reports.
- Recognise and utilise disclosure necessities for companies in financial reports and notes.
- Compile group financial reports, excluding group cash-flow statements, including subsidiaries, associates, and joint arrangements.
Considerations for Pursuing the ACCA DipIFR
There are a number of considerations that might prompt someone to seek the ACCA DipIFR (Diploma in International Financial Reporting) qualification. These can include the following:
- Career Advancement: Obtaining this qualification can open up new job opportunities and overall career growth.
- International Acceptance: As a globally recognized certification, it enhances professional credibility worldwide.
- Expertise in IFRS: It provides the opportunity to develop a thorough understanding and expertise in International Financial Reporting Standards (IFRS).
- Compliance with Industry Norms: This certification can help ensure you remain current with industry standards.
- Professional Growth: It offers a significant step in continued professional development and competence.
- Path to ACCA Membership: The diploma serves as a pathway towards ACCA membership.
- Ongoing Learning and Development: The pursuit of the ACCA DipIFR invites continuous learning and professional growth.
Outside of these reasons, individuals may choose the ACCA DipIFR for personal satisfaction or to meet specific career goals.
The ACCA DipIFR Course is crafted for finance professionals aiming to further their understanding and knowledge of International Financial Reporting Standards (IFRS). It’s particularly suited for those who already have experience or are currently employed in the accounting, auditing, or finance sectors.
A wide range of professionals seeking the ACCA DipIFR qualification include the following –
- Chief Financial Officers (CFOs), Finance Controllers, Finance Directors, VPs, AVPs, and other prominent figures in finance
- Consultants, active Chartered Accountants (CA), and Cost and Management Accountants (CMA)
- Professional Accountants with qualifications (CAs, CMAs, etc.)
- Finance and Reporting Analysts, Managers or Leaders
- Graduates and Post Graduates specializing in finance.
ACCA DipIFR Qualification: Eligibility
This ACCA DipIFR qualification is accessible if you are a qualified professional accountant or auditor, operating either in practice or in a corporate environment.
Nevertheless, if you are a working professional but not yet certified, you’re still potentially eligible. You are eligible upon fulfilling one of the following conditions:
- If you have three years of significant accounting experience which is well-documented, endorsed, and recognized by your employer through an ACCA experience form.
- A B-Com degree, complemented by two years of professional work experience.
- Possession of an ACCA certification in International Financial Reporting, along with two years of professional work experience.
Please note that the above-mentioned conditions are necessary for eligibility to undertake the ACCA DipIFR qualification.
ACCA Diploma in IFRS
The ACCA DipIFR Exam is designed to provide a thorough understanding of the principles, concepts, and usage of International Financial Reporting Standards (IFRS). The exam is highly focused on practical elements and the implementation of IFRS in real-world situations.
The scope of this Exam includes a variety of IFRS-related subjects, such as financial statement presentation and disclosure, accounting for business combinations, fair value measurement, and financial instruments. It aims to provide an in-depth understanding of particular IFRS standards and their practical application.
Upon completion of the ACCA DipIFR Course, candidates are required to take a written exam, which assesses their grasp and understanding of IFRS. The DipIFR examination is conducted twice a year, offering the ACCA DipIFR qualification upon successful completion.
The ACCA DipIFR certification holds worldwide recognition and respect within the spheres of accounting and finance. The qualification evidences advanced competency in IFRS, boosting career opportunities for professionals engaged in accounting, finance, and auditing positions. Besides, it paves the way for future professional growth and more advanced certifications within the ACCA framework.
The objective of this course is to expand your comprehension and familiarity with International Financial Reporting Standards.
The objective of this course is to enhance your comprehension and familiarity with International Financial Reporting Standards.
ACCA DipIFR Course: A Comprehensive Overview
The ACCA DipIFR Course encompasses comprehensive video lessons that cover the entirety of the DipIFR syllabus. Lessons focus extensively on specific IFRS standards to give you a thorough foundation. Alongside this, we provide you with digital resources and materials for further study.
Our course is accessible for up to six months online, providing plenty of time to thoroughly understand the course materials and lessons.
Be a part of live sessions which are interwoven with real-time industry examples. These sessions are initiated by notable professional leaders in the finance industry, ensuring a genuine and enriching learning experience.
Moreover, these sessions include an array of exercises and illustrations. We also provide exam standard questions to offer you a nuanced outlook on the core concepts. These are specifically designed to familiarize you with the question pattern of the DipIFR exams.
After completing the syllabus area sessions, a video question marathon that encompasses a variety of concepts, comprehensive and previous exam questions, as well as numerous examination tips and tricks, will be made available to you.
Having followed the rigorous course and participated in the video question marathon, you should find yourself well-prepared to take the exam. The timing of the exam is flexible; you may choose to take it immediately following the course or at any later date that fits into your study schedule.
The ACCA certification equips individuals with the necessary understanding, abilities, and expertise to excel in the finance and accounting industry.
In addition to this, ACCA offers numerous ongoing professional development (CPD) options for its members. This ensures that they remain informed about the most recent progressions in the fields of finance, accounting, and business.
Registration, Timing, and Format of the ACCA DipIFR Exam
The Diploma in International Financial Reporting (DipIFR) is evaluated through a solitary written exam that lasts for 3 hours and 15 minutes. To successfully pass this paper, candidates need to score a minimum of 50 per cent. The ACCA holds the DipIFR exam twice annually, specifically in the months of June and December.
Upon taking the examination, candidates are presented with 4 questions with each carrying 25 marks. These questions are derived from diverse areas of IFRSs, and candidates are tested on a combination of calculation-based and descriptive questions.
Candidates are strongly recommended to stay updated about changes in the exam’s structure or syllabus. For the most current and precise details about the DipIFR exam, please consult the official ACCA webpage or directly reach out to the ACCA.
Please ensure to comply with the registration deadlines established by the ACCA for every examination session. Any late registration or amendments to your exam application might result in extra charges or depend on availability.
You are advised to check the official ACCA website or get in touch with ACCA directly for the most recent and precise information about DipIFR exam registration.
What is ACCA?
The Association of Chartered Certified Accountants popularly known as ACCA is a globally recognized course with over 200,000 members and 600,000 students across 180+ countries.
Can I start ACCA After 12?
Yes, To be eligible to register for ACCA qualification, students should have qualified their 10+2 examinations with an aggregate of 65% in Mathematics / Accounts and English, and a minimum of 50% in other subjects.
Other students (not having 65% aggregate as above) are eligible to join ACCA through Foundation in Accountancy Route, which is an entry-level qualification for ACCA.
Does ACCA member have signing Authority ?
As an ACCA, you do not have signing authority in India and hence cannot sign audit reports and practice audits by setting up your own firm in India. However ACCA jobs are very much available in all MNCs and Big 4s where you can join as a qualified professional accountant.
How many Exams are there in ACCA?
There are 13 Exams which student needs to be pass for qualifying ACCA. However you may get some exams exempted basis your current qualification.
What are ACCA Exemptions?
If you already have some qualifications then you may not have to take all of the exams in the ACCA Qualification. These are called ACCA exemptions and mean that you will start your studies at the right level for your knowledge and skill.
What exemptions are there for class 12th students?
NONE. You have to attempt all 13 papers for ACCA.
What exemptions are there for B.Com students?
For students who have already qualified B.Com / M.Com, they have the exemptions of ACCA knowledge level i.e. F1 to F3 and ACCA Skill level i.e.F4 subject.
What exemptions are there for CA students?
An Indian Chartered Accountant can get up to 9 exemptions out of 13 papers of ACCA (from F1 to F9). You can directly start your qualification at the professional level and become an ACCA by only passing the 4 papers.
What is Fee Structure for ACCA?
Registration fee (one-time), Annual subscription fee and per exam fee has to be paid to ACCA.
What are ACCA Exemption Fees?
Exemption fees can go up to £1,000, depending on one’s academic qualification. However You can reach out to FinTram to get the reduced exemption fees under their scholarship program.
Fee Structure for ACCA Diploma in IFRS?
Initial registration £89 and Dip IFR (Global) exam fees £123.Please reach out to FinTram to get the scholarship program for ACCA Dip IFR Course.
What is the fee benefit which FinTram can provide?
FinTram Global being the Approved Learning Partner with ACCA provided various scholarships to students. Benefits include:-
Initial Registration of the ACCA will be waived off to all Fintram Students
Exemption fees can be reduced to 10GBP to 30 GBP per exam basis current qualification of the student.
These waivers/Exemptions may change time to time and are at sole discretion of FinTram Global & ACCA.
In addition to above various benefits are provided with FinTram Classes once registration is completed.
What all Exams are there in ACCA?
To be Qualified as ACCA one needs to clear 13 Exams divided into 3 levels-
Business & Technology (BT)
Management Accounting (MA)
Financial Accounting (FA)
Corporate and Business Law (LW)
Performance Management (PM)
Financial Reporting (FR)
Audit and Assurance (AA)
Financial Management (FM)
Strategic Business Leader (SBL)
Strategic Business Reporting (SBR)
Any Two out of the following:
Advanced Financial Management (AFM)
Advanced Performance Management (APM)
Advanced Taxation (ATX)
Advanced Audit and Assurance (AAA)
When are ACCA exams conducted?
ACCA Exams are very flexible. First 4 Exams – BT, MA ,FA ,LW are known as on demand exams. These exams can be attempted at any time of the year. Student can book them anytime and appear for the exam.
All other exams of skill and professional level are conducted by ACCA four times in a year: March, June, September and December. Student can plan for any exam (one by one) and appear basis his preparation.
What is the Passing Rate for ACCA Exams?
Globally the average passing rate for ACCA exams is approx. 40 %.
What is the Exam Format in ACCA ?
First Four Exams (BT, MA, FA & LW)
100% Objective ( MCQs)
For (PM, TX, AA, FR & FM)
60% Objective ( MCQs)
40% Subjective (Case Study based Questions)
For Professional Level
100% Subjective (Case Study based Questions)
What is the scope of ACCA in India and overseas?
The scope of ACCA in India & abroad is growing at an exponential rate. ACCA members are securing professional jobs all across the countries in various multinationals and banks. Like, EY, PwC, Deloitte, KPMG, Grant Thornton, BDO, Accenture, Credit Suisse, Barclay’s, Standard Chartered etc. are namely few. Job Profiles for ACCA members include Corporate Finance, Audit and Assurance, Risk Advisory, Internal Audit, Taxation, Investment Advisory, etc. These job offers are for the designation, profile and salary packages very much comparable to the Indian CA’s. Also, ACCA is globally recognized and there are a lot of ACCAs, who have secured jobs overseas in countries such as the UK, Dubai, Canada etc.
How much Salary I can get as in ACCA ?
Starting salary for an ACCA affiliate in India can be in the range of 4 Lakhs to 8 Lakhs per annum. Once you become an ACCA member the salary increases to over 10 Lakhs annually and can be more depending upon the experience and skill set of the candidate.
What is different between CA and ACCA?
1.Recognition Global Recognition Recognized in India only
2.Levels 3 Levels-Knowledge, Skill & Professional 3 levels-CA Foundation, IPCC& CA Final
3.Time 2-3 years depending on your entry point (current education) 4 to 8 years
4.Group System No Group System- Appear for individual exams as per your convenience. If a student fails an exam, they just need to appear for that particular exam Minimum 4 exams per group to appear for. If a student fails an exam, they need to appear for all exams in that group
5.Syllabus Follows IFRS (International Financial Reporting Standards)- applicable in India as well as overseas Follows Ind-As (Indian Accounting Standards)- applicable only in India
6.Work Experience Requirement 36 months of work experience in any field of Accounts and Finance-related roles to become an ACCA Member (However you still become an ACCA Affiliate after completion of the course) 36 Months of Articleship experience in the field of accountancy
7.Signing Authority Signing authority in countries such as the UK, Dubai, Singapore, etc Signing authority in India only
8.Passing Rate Passing rate of 40% Passing rate of 3-5%
9.Cost Rs 3.5-4 lac including training. Exam and registration fees Rs 3-3.5 lac including training. Exam and registration fees
10.Expected Salary 4-8 Lacs INR pa 4-8 Lacs INR pa
Are both CA and ACCA considered equivalent?
ACCA and CA certifications entail almost similar course curriculum and training and both are considered more or less equivalent in the term of knowledge and Salary: Rs 4 – Rs 8 Lacs INR pa for both.
Are subjects in CA are same as of ACCA?
With the exception of Taxation and Law, CA and ACCA subjects have overlapping concepts such as Accounting (IFRS & Ind -AS), Auditing, Financial Management. Costs Accounting. This is also one of the reasons that CA Students gets various exemptions in ACCA.