What is DipIFR?

DipIFR offered by Association of Chartered Certified Accountants (ACCA), UK, provides a practical and detailed knowledge of the key IFRS and how they can be interpreted and applied. On completion of this coaching the participants should be able to:

• Understand and explain the structure of the IASB, IFR and Conceptual Framework for Financial Reporting.
• Apply relevant financial reporting standards to key elements of financial reports.
• Identify and apply disclosure requirements for companies relating to the presentation of financial reports and notes.
• Prepare group financial statements (excluding group cash flow statements) including subsidiaries, associates, and joint ventures.

The ICMA Advantage

• One of the very few institutions in Oman dedicated to offering coaching for International Certifications in Finance, Accounting and Control.
• Learning made easy by qualified experts with several years of practical experience.
• A unique know and pass focused coaching.
• Emphasis on building strong conceptual foundation.
• Periodic practice tests, evaluation and feedback.
• Convenient timings for working executives.

DipIFR Syllabus Content

The course is divided into four broad modules:

A. International sources of authority:

• International Accounting Standards Board (IASB).
• International Financial Reporting Standards (IFRS).
• Conceptual Framework for Financial Reporting.

B. Elements of financial statements

• Revenue recognition.
• Property, plant and equipment.
• Impairment of assets.
• Leases.
• Intangible assets and goodwill.
• Inventories and construction contracts.
• Financial instruments.
• Liabilities provisions, contingent assets and liabilities.
• Accounting for employment and post-employment benefits.
• Taxation in financial statements.
• The effects of changes in foreign currency exchange rates.
• Agriculture.
• Share-based payment.
• Exploration and evaluation expenditures.

C. Presentation and additional disclosures

• Statement of Financial Position, Statement of Comprehensive Income, Statement of Changes in Equity and Statement of Cash Flows.
• Earnings per share.
• Events after the reporting date.
• Accounting policies, changes in accounting estimates and errors.
• Related party disclosures.
• Operating segments.
• Reporting requirements of small and medium sized Entities(SMEs).

D. Preparation of external financial reports for combined entities, associates and joint ventures

• Preparation of group consolidated external reports.
• Business combinations, intra-group adjustments.
• Business combinations, fair value adjustments.
• Business combinations, associates and JVs.

Eligibility

If you are a professional accountant or auditor who works in practice or business, and are qualified according to national accounting standards, then you are eligible to take this ACCA financial reporting qualification. If you are working, but not yet qualified, then you may still be eligible. You will need to prove that you have one of the following:

• three years relevant accounting experience (by submitting a letter from your employer).
• a relevant degree plus two years work experience.
• an ACCA Certificate in International Financial Reporting plus two years work experience.

Exam Details

DipIFR is assessed by a single three-hour written exam. You will need to achieve a 50 per cent mark or above to complete the paper. The exam is held twice a year in June and December at exam centres. The assessment marks are split as follows:

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