Diploma in IFRS ACCA - What You Need to Know?

Finance courses help fulfil students' academic goals. Often, you need something more than a financial degree to shape your career. The changing dynamics of the finance industry can often make you feel like you are lagging. Thinking about what else you can do? Go for a Diploma in IFRS ACCA, as it can accelerate your career. 
Be it job satisfaction, pay package, or your dream to work for giant companies and big brands, you have the solution now. If you want to completely understand international financial reporting with no areas remaining blurry to you, the comprehensive course of the Diploma in International Financial Reporting, also called DipIFR, can help. 

Diploma in IFRS ACCA: What is it?

This diploma course helps candidates learn all about the International Financial Reporting Standards. ACCA organisation issues this certification. This course certifies a candidate’s excellence in IFRS. For learning new concepts and principles related to financial reports that are accepted globally and applying them aptly, this course proves instrumental in delivering the right knowledge to finance professionals. 

Eligibility Criteria

There are certain criteria for smooth eligibility to this diploma course. If you are a working professional serving as an accountant or auditor practising or working for a business firm, then you qualify. 
Also, if you are an IFAC member, you can qualify for the DipIFR qualification.
You do not have to worry if you do not meet the above-mentioned two criteria. To be eligible for DipIFR, just check whether you have a:
  • Two years of working experience as an accountant and an appropriate degree like ACCA 
  • Relevant accounting experience of two years and if you have an ACCA CertIFR, that is, Certificate in International Financial Reporting
  • Accounting experience for a total 3 years is a plus 
  • ACCA affiliate status matters 

Syllabus

This includes:
  • International sources of authority
  • Elements of financial statements
  • Presentation of financial statements as well as additional disclosures
  • External financial report preparation for associates, combined entities, and joint arrangements
You can get equipped with the skills and knowledge essential for dealing with accounting and finance tasks per the IFRS standards. Study preparation for a Diploma in IFRS ACCA can be difficult, and online resources - such as online coaching centres like NorthStar Academy - can be very useful for you in this regard. 

Exam Format

Curious to know about the exam format? It is quite straightforward. Read on:
  • The ACCA DipIFR can be taken online, and the duration is 3 hours 15 minutes.
  • You must get a minimal 50% score to get the diploma.
  • The exam window opens two times each year: June and December.  

Diploma in IFRS ACCA Qualification: The Objectives 

The course is curated with care to develop the finance professionals' knowledge so they can become conversed with International Financial Reporting Standards. A candidate, after completing a Diploma in IFRS ACCA, should be able to: 
  • Have a grasp on the intricacies of conceptual outline for financial reporting. 
  • Have a lucid understanding of the key elements of financial reports.
  • Stay updated with the International financial reporting standards, which is a dynamic space and this diploma just does that. 
  • Classify and apply disclosure requirements for different companies spread across several industries about financial reports.
  • Prepare and formulate group financial statements that include subsidiaries, joint arrangements and associates.

Career Scope

With this diploma, you can get the skills to overcome the complexities and apply IFRS in different business contexts. Employers will trust you for your skill in properly evaluating financial reports, and you will be an asset to any organisation. 
With the Diploma in IFRS ACCA Qualification, you can get the required boostIt can show your skills in International Financial Reporting Standards (IFRS) and get you jobs in the following roles:
  • Accountant 
  • Financial Controller 
  • Financial Analyst 
  • CFO
  • Auditor 
  • & the list is long 
Once you complete the programme, you can prepare financial reports more easily. You can do this according to the requirements under IFRS and Indian Accounting Standards.
The certification can help you boost your job prospects and draw a lucrative salary. It can aid you in taking your career forward and give a boost to your earning potential. IFRS is being adopted increasingly across the globe. Naturally, with this diploma, you can get fresh opportunities in domestic and international markets. 

Some Important Pointers:

  • If you are employed as a professional in the finance or accounting domain and lack knowledge of IFRS, you can get an in-depth idea about the same with this diploma programme. 
  • IFRS is taught in different nations across the globe. Naturally, people need to have a thorough understanding of the standards. 
  • Many countries worldwide have already adopted IFRS or equivalent degrees as their local Generally Accepted Accounting Principles (GAAP).

Get the Diploma by Passing ACCA Faster: How? 

Before you opt for a diploma in IFRS, it is important to have your foundation right. So, for a good value-driven study and for passing the ACCA exam, you need the assistance of top mentors and instructors. When you do your research and stop by an online coaching of repute like NorthStar Academy, you can be sure of several things:
  • 100% of the syllabus is covered. You also get to study topics, subject matters, and concepts that are in the updated curriculum.
  • A reputed online coaching centre collaborates with top-notch learning partners, and candidates get access to world-class study materials. 
  • Engaging videos and other digital formats of lectures help a candidate to have a proper understanding of the syllabus and prepare well.
  • Once you can crush the thirteen exams of ACCA along with the professional module at a faster pace, your chances of securing the diploma amplify. Proper guidance increases your chances of completing the ACCA course within the stipulated time with fewer hiccups. 
  • The mentors and educators work that extra mile for you so that you can pass the ACCA exams faster.
  • Access to study materials is offered anytime, and the candidates can study as per their flexible schedule. 

FAQs

  1. Is a Diploma in IFRS worth it?

Yes. You can find getting a Diploma in IFRS worthwhile, especially if you want to be a finance professional or happen to be one already. It is recognised across the globe. It can be helpful for finance professionals who work or wish to work in an organisation that needs reporting and accounting tasks using IFRS/ Ind AS.

2. What is the salary of a Diploma in IFRS?

Generally, top global auditing firms hire IFRS professionals. Candidates with a Diploma in IFRS earn way more than candidates with other qualifications. They get numerous opportunities to work globally and advance their career.

Conclusion

If you are planning to get a Diploma in IFRS ACCA, you must prepare adequately to pass your ACCA exam with success. You can have maximum chances of success with NorthStar Academy, a prominent online coaching centre that has top luminaries to guide students to success. It has a proven track record in helping students with exam preparation tips, advanced study techniques, etc. Enrolling in this centre gives you maximum chances of ACCA exam success, and you can apply for the IFRS diploma soon. 


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