ACCA Diploma in IFRS


If you are a finance professional who is already knowledgeable about the details of International Financial Reporting Standards (IFRS), this qualification has a fast and efficient solution to meet your needs. If you need to develop a working and practical knowledge of the area, the DipIFR can help you prepare.

International Financial Reporting Standards (IFRS) are mandated in more than 100 countries worldwide. All listed companies in the European Union (EU) have to prepare consolidated company accounts that comply with IFRS. It also affects associates and subsidiaries of EU-listed companies.

Other countries such as Australia, Hong Kong and South Africa have already adopted IFRS or equivalents as their local Generally Accepted Accounting Principles (GAAP). And many other countries around the world, including India, are moving towards applying IFRS, which is having a significant impact on financial reporting.


The course is designed to develop your knowledge and understanding of International Financial Reporting Standards. You will also learn how to apply them, as well as the concepts and principles which underpin them.

On completion of the Diploma candidates should be able to:

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

Who is it for?

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 in practice, but not yet qualified, then you may still be eligible. You will need to prove that you have one of the following:

1.Two years' relevant accounting experience and a relevant degree (attracting at least ACCA qualification exemptions F1-F4)
2.Two years‘ relevant accounting experience and an ACCA Certificate in International Financial Reporting
3.Three years' relevant accounting experience
4.ACCA affiliate status

How it works?

The Diploma in International Financial Reporting (DipIFR) duration is 6 months, to fit your studies around your work and social commitments.

DipIFR is assessed by a three-hour written exam held twice a year with a pass mark of 50 per cent. You can apply online at any time to start studying DipIFR.


The Diploma in International Financial Reporting (DipIFR) is assessed by a single three-hour, 15 minute 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 ACCA's exam centers.

There are two sections to the paper which requires a mix of calculations and written answers. The assessment marks are split as follows:


Section A

One 'groups' question


Section B

Three scenario questions


(20 marks each)



A) International sources of authority

1) The International Accounting Standards Board (IASB) and the regulatory framework

B) Elements of financial statements

1) Revenue recognition

2) Property, plant and equipment

3) Impairment of assets

4) Leases

5) Intangible assets and goodwill

6) Inventories

7) Financial instruments

8) Provisions, contingent assets and liabilities

9) Employment and post-employment benefits

10) Tax in financial statements

11) The effects of changes in foreign currency exchange rates

12) Agriculture

13) Share-based payment

14) Exploration and evaluation expenditures

15) Fair value measurement

C) Presentation and additional disclosures

1) Presentation of the statement of financial position and the statement of profit or loss and other comprehensive income

2) Earnings per share

3) Events after the reporting date

4) Accounting policies, changes in accounting estimates and errors

5) Related party disclosures

6) Operating segments

7) Reporting requirements of small and medium sized entities (SMEs)

D) Preparation of external financial reports for combined entities, associates and joint arrangements

1) Preparation of group consolidated external Reports

2) Business combinations – intra-group adjustments

3) Business combinations – fair value adjustments

4) Business combinations – associates and joint arrangements

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