ACCA DipIFR Exam Guide: Key Eligibility & Registration

One of the most sought-after international accounting qualifications that can be used to master international accounting standards is the ACCA Diploma in International Financial Reporting (DipIFR). This exam guide will give you everything you require to know, such as the eligibility and registration, pattern of exam, studying plans, and after exam, so you can be assured of achieving your DipIFR qualification.

Take a quick look at this video about cracking ACCA papers to get the most out of the blog!

 

 

What is the ACCA DipIFR Exam?

DipIFR is a profession qualification that is administered by the association of chartered certified accountants (ACCA) and is aimed at developing and assessing your practical expertise of International financial reporting standards (IFRS). The certification can be considered a giant career enhancement among accounting and finance professionals since it is accepted by employers and industry associations across the globe. 

Key Eligibility & Registration

Who can apply?

Applicants who have experience in accounting or finance including graduates, active accountants, CAs or individuals who have attended pertinent business training in a corporate context.

How to register?

Register online under the ACCA portal under full IFRS, send necessary documentation and pay registration fee and exam fee. Pay attention to the deadlines of applications to the June and December sessions.

Exam Format & Structure

• Frequency: Three times a year (June and December) in approved ACCA exam centers or distance online exams.
• Time: 3 hours 15minutes (reading and planning time inclusive).

Paper Structure:

• There were 4 mandatory questions with 25 marks each.
• 100 total marks, with a 50% pass mark.

Question Types:

• Question 1: Consolidated financial statements preparation (group accounts, business combinations, NCI, goodwill) strong emphasis on calculations, little explanation is needed.
• Question 2: Use and description of accounting treatment, frequently involved with accounting ethics or judgment of the management.
• Question 3: Detailed coverage of one or two IFRS standards, which entails calculation and description.
• Question 4: Scenario/case-study analysis including multiple practical queries and reporting in several aspects of identifying, discussing and suitable financial reporting. 

Exam Syllabus & Major Topics

The DipIFR syllabus is wide and it entails more than 25 standards of IFRS/IAS. The most testified subjects are:

• IFRS 9 (Financial Instruments)
• IFRS 10 (Consolidation)
• IFRS 15 (Revenue Contracts with customers)
• IFRS 16 (Leases)
• IAS 1 (Presentations of Financial Statements).
• IAS 2 (Inventories)
• IAS 12 (Income Taxes)
• IAS 36 (Impairment)

Get the ACCA official syllabus and study guide so that you can organize your studies on a daily basis. 

Best Prep Ideas before DipIFR Exam

The ACCA DipIFR is a tough but very rewarding award. With a smart approach, a consistent practice, and understanding the format of the exam, you can have a high probability of passing on the first attempt of the IFRS exam by developing a background of IFRS knowledge and familiarizing with the format of the exam.

Are you interested in becoming a DipIFR? Your IFRS admission process can start today and steps can be made in the right direction towards global experience in financial reporting!

Master the Basics:

It is important to first master the basics of the accounting standards used in the IFRS, as well as the definitions and basic principles before proceeding to the more advanced questions.

Practice with Past Papers:

You should regularly practice old DipIFR exam questions in time. Target Question 1 (consolidation) and narrative based questions.

Time Management:

Allow around 45 minutes in every question of 25 marks. First 15 minutes will be used in critical reading, planning and order answers. Do not get stuck, proceed and go back to difficult parts.

Integrate Calculations and Explainations:

On all questions other than the first, give plain written explanations of your figures- demonstrate logic, standard used, and reasoning.

Mock Exams and Feedback:

Have at least two full-length mocks with real-life test situations. Look at reports by review examiners and sample answers given by ACCA to be able to note pitfalls. 

Use Official Resources:

Use the ACCA study textbook, revision books and downloadable exam support materials to address all the subjects in the syllabus. 

On Exam Day

• Be early and check out your ID and admission letter.
• In the case of remote exams, ensure you test your technical set up beforehand.
• Read the questions thoroughly - tick the prerequisites, take notes and think over the answers.
• Begin with the best question you have so that you feel confident.

Results & Next Steps

• Findings: There is a release of DipIFR results some weeks after the exam.
• Post-Exam: successful candidates will be awarded with an official diploma, which will be very valuable to your resume in the context of working in a multinational company, audit firm, and financial consultancy.

• In case of failure: Participate in the feedback review, find out what you do not do well in, and apply again the following time there is no restriction on the number of attempts.

Read More 

• IFRS Course Fees 
• IFRS Salary 
• How to Become IFRS after 12th?
• IFRS Course and Syllabus Details 

FAQs on ACCA DipIFR Exam

What is the ACCA DipIFR Beyond?

The ACCA Diploma in International Financial Reporting (DipIFR) is an international qualification in the field of finance and accounting that is offered to those professionals interested in indicating their competence in International Financial Reporting Standards (IFRS). 

Who qualifies to take the DipIFR exam?

Most of them will accept accounting graduates, qualified accountants, and persons who have not less than two years of experience which is related. Certain conditions can be different and, therefore, verify the ACCA portal prior to IFRS registration. 

What is the number of times that the DipIFR is taken annually?

The test is in the form of two half-years: in June and December. 

How should the exam be conducted in terms of shape and time?

The DipIFR exam is a paper-based test of 3 hours 15 minutes is made up of four mandatory questions (25 marks each) and has a test of skills in both calculation and written explanation skills.