Diploma in International Financial Reporting Standards

Diploma in International Financial Reporting (DipIFR)

NCA College of Management renders Diploma in International Financial Reporting (DipIFR) training on a periodical basis. DipIFR is the replacement of the traditional GAAP concept. It is an international qualification in IFRS developed by ACCA.

This course is designed especially for Financial Professionals who pursue a detailed understanding of IFRS and its implications. The certified program enables an in-depth understanding of key IFRS rules and principles, its recognition, presentation, measurement, and disclosure of its components in Financial Statements.

Develop skills in preparing IFRS implied Financial Statements with the practical application of IFRS. More than 100+ countries have mandated IFRS and the demand shall continue. Nepal too is moving towards NFRS implementation several Banks, Financial Institutions, and Insurance companies have started embracing the global trend of IAS/IFRS.

DipIFR Course Objectives

The course is framed to advance the understanding and knowledge of International Financial Reporting Standards, which can be underpinned through the application of its principle and concepts. After completion of the course;

• Implement the IASB’s Conceptual Framework for Financial Reporting.

• Apply standards and their elements to the financial report.

• Identify and implement the disclosure in the company’s financial notes and reports.

• Prepare group financial statements of subsidiaries, joint ventures, and associates.

Salient Features of DipIFR

• Comprehensive coverage of IFRS.

• A recognized diploma shall be issued by ACCA, in more than 175 countries.

• The course shall be executed by an ACCA member, covering the extensive syllabus, practice session, mock exams, and tests.

• Upon successful completion of the examination Diploma in International Financial Reporting shall be awarded by ACCA.

DipIFR Course Structure

The nature of IASB

1. The structure of IFRSF & its framework

2. The enlarging standards of IASB

3. The usage and status of IFRS

4. The IASB roadmap, volume, and its use.

5. The use of IFRS around the world.

Policies & presentation

1. IAS 1, Presentation of Financial Statements.

2. IAS 8, Accounting policies; changes in accounting estimates and errors.

3. IFRS 15, Revenue from Contracts with the customer.

Accounting of Assets & Liabilities (Part-1)

1. IAS 10, Events after the reporting period

2. IAS 12, Income tax

3. IAS 19, Employees benefit

4. IAS 37, Provisions, contingent liabilities & assets

5. IAS 41, Agriculture

6. IFRS 2, Share-based payment

7. IFRS 6, Exploration for evaluation of mineral resources

8. IFRS 7, Financial instruments disclosures

9. IFRS 9, Financial instruments

10. IFRS 13, Fair Value Measurement

11. IFRS 32, Financial instruments-presentation

Accounting of Assets & Liabilities (Part-2)

1. IAS 2, Inventories

2. IAS 16, Property plant and equipment

3. IAS 20, Accounting for government grants and disclosure of government assistance

4. IAS 23, Borrowing costs

5. IAS 36, Impairment of assets

6. IAS 38, Intangible assets

7. IAS 40, Investment Property

8. IFRS 5, Non- current assets held for sale and discontinued operations.

9. IFRS 16, Leases

Group Accounting

1. IAS 21, The effects of changes in foreign exchange rates

2. IAS 27, Separate financial statements

3. IAS 28, Investment in associates and joint ventures

4. IAS 29, Financial reporting in hyperinflationary economies

5. IFRS 3, Business combination

6. IFRS 10, Consolidated Financial Statements

7. IFRS 11, Joint arrangements

8. IFRS 12, Disclosure of interests of other entities

Disclosure Standards

1. IAS 7, Statement of Cashflows

2. IAS 24, Related party disclosures

3. IAS 33, Earnings per share

4. IAS 34, Interim financial reporting

5. IFRS 1, First-time adoption of IFRS

6. IFRS 4, Insurance contracts

7. IFRS 8, Operating segments

DipIFR Intakes

The exams are conducted twice a year. Therefore, students can enroll in January or June session and appear for the examination in June/December.

The examination consists of three hours fifteen minutes and the passing mark is 50 percent.

Eligibility of DipIFR

Chartered Accountants (CA), Registered Auditors, either employed or in practice, are qualified in accordance with National Accounting Standards, are eligible to take a Diploma in International Financial Reporting (DipIFR).

If not a qualified Chartered, one can still sit for the exam, but you need to prove the following;

• Bachelors degree in Accounting (attracting at least exemptions in knowledge papers of ACCA)

• ACCA certificate in International Financial Reporting and two years of relevant accounting experience.

• Three years of relevant accounting experience.

• Qualified ACCA.

Why NCA College of Management for DipIFR?

NCA College of Management brings you vast experience of conducting successful training in IFRS. NCA instructors are experts in the practical application of IFRS training.

NCA in association with GRANT THORNTON INDIA, LLP periodically conducts DipIFR training classes as part of capacity building of professional accountants in Nepal and in line with its vision to expand the professional horizon. We have a pool of IFRS experts who have proven experience in Financial/Corporate Reporting in line with IAS/IFRS.