Modern accountants are aware that the focus is shifting from national to international standards. The Diploma in International Financial Reporting (DipIFR) offered by ACCA- UK is designed to develop your knowledge of IFRS.  It provides an understanding of the concepts and principles which underpin them, and their application in the internationalmarketplace.

The ACCA Diploma in International Financial Reporting (DipIFR) will enable you to cross boundaries in an increasingly important field of accountancy. This qualification is intended for professional accountants and auditors, working in practice and industry, who are qualified in accordance with national accounting standards. The Diploma can be studied as an open-learning course, based on self-contained study packs produced by the specialist tutors and publishers ATC (International). It is assessed by a single three hour examination. ACCA has designed the program to be flexible, so that the Diploma can be completed in three to six months.

All listed countries in the European Union are required to prepare consolidated company accounts in compliance with IFRS. IFRS also affects associates and subsidiaries of EU-listed companies, and with many countries around the world moving towards applying IFRS, the impact of financial reporting is significant.
ACCA has long-believed in the importance of international accounting and financial reporting standards in global business, and was the first organisation to offer globally-available online and open-learning qualification in international financial reporting and auditing. The qualification is intended as a conversion course for professional accountants already qualified or experienced in country specific financial reporting standards. The diploma program addresses international financial reporting and first time application of international financial reporting standards.
The key topic area headings are as follows:

1. International sources of authority

1. The structure of the International Accounting Standards Board (IASB)
2. The standard setting process
3. The role of the International Financial Reporting Interpretations Committee
4. Progress towards international harmonization
5. The IASB 'Framework for the preparation and presentation of financial statements'
6. The first time application of International Financial Reporting Standards.

2. Elements of financial statements

1. Property, plant and equipment
2. Intangible assets
3. Goodwill
4. Current assets including inventories
5. Construction contracts
6. Liabilities
7. Financial instruments
8. Provisions and contingencies
9. Employment and post-employment benefits
10. Accounting for tax
11. Accounting for agriculture
12. Share based payment
13. IFRS 6: Exploration for and evaluation of mineral resources.

3. Presentation and additional disclosures

1. Events after the balance sheet date
2. Earnings per share
3. Related party disclosures
4. Interim financial reporting
5. Effects of changes in foreign exchange rates
6. Segment reporting.

4. Preparation of external financial reports for single entities

1. Income statements and discontinuing operations
2. Cash flow statements
3. Statement of changes in equity.

5. Preparation of external financial reports for combined entities and joint ventures

1. Definitions of subsidiaries, investments in associates and joint ventures
2. Exclusions from consolidations
3. Preparation of consolidated balance sheets and income statements
4. Equity accounting
5. Proportionate consolidation and joint ventures.

Excluded topics

The following topics are specifically excluded from the syllabus:

• Partnership and branch financial statements
• Complex group structures, including sub-subsidiaries or mixed groups and foreign subsidiaries
• Piece-meal acquisitions, disposal of subsidiaries and group re-constructions
• Financial statements of banks and similar financial institutions
• Group cash flow statements
• Schemes of reorganisation and reconstruction
• Company/share valuation
• Accounting for insurance entities
• International financial reporting exposure drafts and discussion drafts
• The international public sector perspective
• Multi-employer benefit schemes
• Share-based payment transactions with cash alternatives.

• Any Professional accountants and auditors, working in practice and industry, which are qualified in accordance with national accounting standards is eligible to take the qualification.
• Practitioners who may not yet be qualified, but who can verify that they have three years relevant accounting experience through submitting an employer’s letter, are also eligible.

ASSESSMENT
DipIFR will be assessed by a single three-hour closed book written exam, which is held twice a year on June and December at ACCA's exam Centers. The pass mark is 50%.
The initial registration fee of £150 includes one exam attempt, and covers you for a period of four exam sessions. You are required to attempt the exam at the first or second available exam session following registration.
Resits may be attempted during this period and will be charged at £100 per resit. If you do not successfully complete the DipIFR within the registration period, you will need to re-register and pay the appropriate fee in order to continue. The diploma exam is held twice a year in June and December at one of ACCA's exam Centers - we currently have over 350 exam Centers around the world. ACCA can make special arrangements for you if you are disabled or have special needs.

EXAMS
The exam is a three hour paper in two sections. It contains a mix of computational and discursive elements. Some questions adopt a scenario/case study approach. Section A includes a mainly computational question and Section B contains a mix of computational and discursive questions.

HOW TO REGISTER
You can register for the Diploma in International Financial Reporting online, or if you prefer, by filling out an application form and returning it to us.

IMPORTANT DATES AND FEES
You can register for the Diploma in International Financial Reporting at any time, however in order to sit exams at a particular session, ACCA must receive your registration form by the following deadlines:

For the June exams
Register by 15th April
For the December exams
Register by 15th October

For any further detail Email to info@hlcpe.ac.in