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To provide qualified accountants or graduates
possessing relevant country specific qualifications or
work experience with an up to date and relevant
conversion course, providing a practical and detailed
knowledge of the key international financial
reporting standards (IFRS® Standards) and how they
.are interpreted and applied
On completion of this syllabus, candidates should
:be able to
Understand and explain the structure of the-
international professional and conceptual
framework of financial reporting
Apply relevant international financial reporting-
standards to key elements of financial
Identify and apply disclosure requirements for-
entities relating to the presentation of financial
statements and notes
Prepare group financial statements (excluding-
group cash flow statements) including
subsidiaries, associates and joint

The Diploma in International Financial Reporting
(DipIFR) builds on the technical and/or practical
knowledge acquired from recognised country
specific accountancy qualifications or relevant work
experience. The syllabus introduces candidates to
the wider international framework of accounting and
the system of standard setting. The Dip IFR
concentrates on the application of conceptual and
technical financial reporting knowledge that
candidates have already obtained to the specific
requirements of financial reporting under IFRS
The DipIFR also provides essential international
financial reporting knowledge and principles that
will equip candidates to operate in an increasingly
global market place
The prerequisite knowledge for DipIFR can either
come from a country specific professional
qualification, from possessing a relevant degree
(giving exemptions from Accountant in Business (AB);
Management Accounting (MA) and Financial
Accounting (FA) and Corporate and Business Law (LW)
of the ACCA qualification) and two years’ accounting
experience, or by having three years’ full-time
relevant accounting experience, supported by an
employer’s covering letter
The examination is a three-hour fifteen minute
paper. ACCA has removed the restriction relating to
the 15 minutes reading and planning time, so that
while the time considered necessary to complete
this exam remains at 3 hours, candidates may use
the additional 15 minutes as they choose. ACCA
encourages students to take time to read questions
carefully and to plan answers but once the exam
time has started, there are no additional restrictions
as to when candidates may start writing in their
answer books
Time should be taken to ensure that all the
information and exam requirements are properly
read and understood
Most questions will contain a mix of computational
and discursive elements. All questions are
All questions will attract 25 marks. Question one
will involve the preparation of one or more of the
consolidated financial statements that are
examinable within the syllabus. This question will
often include issues that will need to be addressed
prior to performing the consolidation procedures
Generally these issues will relate to the financial
statements of the parent prior to their consolidation
Question two will often be related to a scenario in
which questions arise regarding the appropriate
accounting treatment and/or disclosure of a range
of issues. In this question candidates may be asked
to comment on management’s chosen accounting
treatment and determine a more appropriate one,
based on circumstances described in the question
Question three will usually focus more specifically
on the requirements of one specific IFRS. This
question will typically contain a mixture of
explanation of the principles underpinning the
standard and practical application of those
Question four will usually consist of a scenario in
which the candidate is given a series of queries from
a superior relating to the financial statements. The
requirement will usually be to answer each query.
The queries will normally be independent of each
other. It will be rare for the queries in question four
to require a numerical answer
Some IFRS Standards are very detailed and
complex. In the DipIFR exam candidates need to be
aware of the principles and key elements of these
Standards. Candidates will also be expected to have
an appreciation of the background and need for
international financial reporting standards and
issues related to harmonisation of accounting in a
global context
The overall pass mark for the Diploma in
International Financial Reporting is 50%