Accreditations

DIPIFR

Diploma in International Financial Reporting "DipIFR"

Introduction

If you are a finance professional who is not 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 knowledge of the area, the DipIFR can help prepare you.
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.

Why DipIFR?

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.

Content

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 of financial statements 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 period
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
5) Complete disposal of shares in subsidiaries

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