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The program is specifically designed for finance professionals and students who are keen to learn and implement International Financial Reporting Standards (IFRS). It offers a comprehensive preparation for the ACCA’s Diploma in IFRS (DipIFRS) exam.
This training program is meticulously crafted to ensure thorough coverage of all relevant topics, incorporating interactive discussions and practical insights to facilitate a deeper understanding of the subject matter. Throughout the program, participants will engage in practice questions and experience-sharing sessions, which are crucial for reinforcing their knowledge and skills. A key feature of the program is its focus on practical application. This practical approach ensures that they can confidently implement IFRS requirements within their organizations, addressing various financial reporting challenges that may arise.
The interactive nature of the sessions encourages active participation, allowing participants to clarify doubts and engage in meaningful discussions with peers and instructors. This collaborative learning environment enhances their ability to make informed decisions based on IFRS principles. Moreover, the program is designed to build decision-making capabilities by providing participants with numerous opportunities to apply their knowledge in simulated business situations. This experiential learning approach helps in bridging the gap between theoretical knowledge and practical application, making the learning process more effective and relevant.
Objective of ACCA’s Diploma in IFRS
On successful completion of the course, candidates should be able to:
Understand and explain the structure of the framework of IFRS
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 including subsidiaries, associates and joint ventures
Who should attend?
Chartered Accountants, Company Secretaries, management accountants and other finance professionals
Accountants, finance managers, Chief Accountants
Private equity and M&A professionals
MBA finance working in accounting domain
Semi qualified- CA, CS, management accountants working in accounting domain
Any student/ professional keen to upskill themselves in the IFRS domain
Why EY’s IFRS training program?
Theory meets practice in every session, making learning truly insightful and applicable
The program will encompass the recently introduced standards, specifically IFRS 18 – Presentation and Disclosure in Financial Statements and IFRS 19 – Subsidiaries without Public Accountability
Interactive sessions on the implementation of key sustainability standards and metrics
Sessions will be delivered by industry experts and senior professionals from member firms of EY
Global best practices and perspectives shared during the workshops would provide a holistic understanding of the industry challenges related to the transition to IFRS
Detailed coverage of differences between IFRS and Ind-AS
Upon successful completion of a comprehensive evaluation process, all the participants will be awarded an IFRS Certificate of Completion by EY
ACCA’s Diploma in IFRS examination
Diploma in IFRS examinations are held twice every year in June and December. The program is designed and owned by ACCA, and its examination is also conducted by ACCA. EY or its personnel have no role in the conduct or outcome of the Diploma in IFRS examinations.
Examination centres are in many major cities across the globe. Participants who wish to sit for the exam conducted by ACCA would need to additionally pay the exam fee directly to ACCA. For additional information on ACCA or Diploma in IFRS please visit www.accaglobal.com.
DipIFR will be examined by a single three-hour-15-minute computer-based exam, which is held twice a year in June and December at ACCA’s exam centres, including in India. The pass percentage for the exam is 50%.
The exam contains a mix of computational and opinion-based questions. Some questions adopt a scenario/case study approach. The assessment will be held at various centres globally.
Successful candidates shall be awarded a ‘Diploma in International Financial Reporting’ by ACCA.
We will assist all the participants with the registration process for the DipIFR exam conducted by ACCA through a step-by-step guidance process. To apply for the exam the participants will be required to visit the ACCA Global website and complete their application/documentation process. The acceptance/rejection of the application resides solely with ACCA.
Eligibility for registering with ACCA forDiploma in IFRS examination
The EY IFRS course can be attended by graduates with accounting background. However, to register for the ACCA’s Diploma in IFRS program, the eligibility criteria are as follow:
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 professional, but not yet qualified, then you may still be eligible. You will need to prove that you have one of the following:
three years’ relevant accounting experience (by submitting a letter from your employer).
a relevant degree plus two years’ work experience.
an ACCA Certificate in International Financial Reporting plus two years’ work experience.
Program Coverage (Standards Covered)
IFRS
Ind-AS
Details
IAS 1
Ind-AS 1
Presentation of financial statements
IAS 8
Ind-AS 8
Accounting policies, changes in accounting estimates and errors
IAS 12
Ind-AS 12
Income taxes
IAS 16
Ind-AS 16
Property, plant and equipment
IAS 19
Ind-AS 19
Employee benefits
IAS 20
Ind-AS 20
Accounting for government grants and disclosure of government assistance
IAS 21
Ind-AS 21
The effects of changes in foreign exchange rates
IAS 23
Ind-AS 23
Borrowing costs
IAS 27
Ind-AS 27
Separate financial statements
IAS 28
Ind-AS 28
Investments in associates and joint ventures
IAS 32
Ind-AS 32
Financial instruments: presentation
IAS 33
Ind-AS 33
Earnings per share
IAS 36
Ind-AS 36
Impairment of assets
IAS 37
Ind-AS 37
Provisions, contingent liabilities and contingent assets
IAS 38
Ind-AS 38
Intangible assets
IFRS 1
Ind-AS 101
First-time adoption of international financial reporting standards
IFRS 2
Ind-AS 102
Share-based payment
IFRS 3
Ind-AS 103
Business combinations
IFRS 5
Ind-AS 105
Non-current assets held for sale and discontinued operations
IFRS 7
Ind-AS 107
Financial instruments: disclosures
IFRS 9
Ind-AS 109
Financial instruments
IFRS 10
Ind-AS 110
Consolidated financial statements
IFRS 11
Ind-AS 111
Joint arrangements
IFRS 15
Ind-AS 115
Revenue from contract with customers
IFRS 16
Ind-AS 116
Leases
IAS 2
Ind-AS 2
Inventories
IAS 10
Ind-AS 10
Events after the reporting period
IAS 24
Ind-AS 24
Related party disclosures
IAS 34
Ind-AS 34
Interim financial reporting
IAS 40
Ind-AS 40
Investment property
IAS 41
Ind-AS 41
Agriculture
IFRS 8
Ind-AS 108
Operating segments
IFRS 13
Ind-AS 113
Fair value measurement
Recently Introduced IFRS
IFRS 18
Presentation and disclosure in financial statements
Virtual instructor led training of 70 hours through MS Teams
- 14 sessions of 5 hours each (VILT)
Real time doubt solving through live interaction
BPP hard copy learning material –study text and revision kit, an ACCA approved content provider
EY presentations and publications
Access to EY Virtual Academy
Certificate
EY will award “Certificate of Participation” to those who secure more than 80% and above attendance in the live online sessions.
EY will award “Certificate of Completion” to participants who meet both the below criteria:
Attendance of 80% and above in the live online sessions.
Secure 75% and above in the MCQs based EY IFRS Assessment.
Assessment will be of one hour comprising of 30 MCQ. Each participant will get three attempts. The assessment will be live for a week after the completion of the session.