Diploma in International Financial Reporting

AIMS

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 and how they are interpreted and applied.

OBJECTIVES

On completion of this syllabus, candidates should be able to:
Understand and explain the structure of the international professional and conceptual framework of accounting 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 financial statements of single entities and account for their key elements complying with specified International Financial Reporting Standards and other related pronouncements Prepare group financial statements (excluding group cash flow statements) including subsidiaries, associates, and joint ventures.

DIP IFR- QUALIFICATION

The Diploma in International Financial Reporting (DiplFR) builds on the technical and/or practical knowledge acquired from recognised country specific accountancy qualifications or relevant work experience. The syllabus introduces the candidate to the wider international framework of accounting and the system of standard setting. This conversion course concentrates on the application of conceptual and technical financial accounting knowledge that candidates have already obtained to the specific requirements of financial reporting under international professional regulation and standards.
The DiplFR also provides essential international financial reporting knowledge and principles that will prepare candidates for the increasingly global market place and keep them abreast of international developments and how they might apply to the companies and businesses.

The prerequisite knowledge for DiplFR can either come from a country specific professional qualification, from possessing a relevant degree (giving exemptions from Part 1 and Papers
2.1 and 2.2 of Part 2 of ACCA’s Professional Scheme) and two years’ accounting experience, or by having three years’ full-time relevant accounting experience, supported by an employer’s covering letter.