Navigating the Diploma in IFRS ACCA fees is crucial for prospective students planning their educational journey. This comprehensive guide aims to break down the fees, offering clarity and helping you make an informed decision about pursuing this globally recognized qualification.
The Diploma in IFRS by ACCA is designed for finance professionals who need a detailed understanding and knowledge of IFRS standards. It's a qualification that enhances your professional development and opens up global career opportunities.
Heres an overview of the break up of the fees
Fee Type | Details |
---|---|
Registration Fee | 89 GBP, one-time, covers application processing. |
Examination Fee | 135-142 GBP, varies by city, per exam attempt. |
Study Material Costs | Must buy BPP books, crucial for prep. |
Tuition Fees | Varies by provider and class format. |
Subscription Fees | None, making it cost-effective. |
The total cost of obtaining the Diploma in IFRS by ACCA consists of several components. Here's a detailed break up.
The overall diploma in ifrs acca fees can range between 300 GBP to 500 GBP depending on the learning partner you enroll with
When planning your journey towards earning the ACCA Diploma in IFRS, understanding the financial implications is crucial. Let's compare the costs and benefits between enrolling directly and choosing Eduyush as your path.
Comparison Aspect | Direct ACCA Pathway | Eduyush Pathway |
Initial Registration Fee | 89 GBP (10K INR) | Free |
ACCA Exam fees | 135 GBP (15K INR) | 135 GBP (15K INR) |
Eduyush Tuition fees | 100 GBP (11K INR) | 100 GBP (11K INR) |
BPP books bundle | 70 GBP (7K INR) | 30 GBP (3K INR) |
Total diploma in ifrs acca fees | 394 GBP( 43K INR) | 265 GBP( 29K INR) |
Pass Rates probability | 10% to 20% | 65% to 75% |
Investing in the Diploma in IFRS by ACCA is a significant step forward in your finance career. Understanding the fee structure and managing these costs effectively can help you plan your educational journey without financial surprises. The absence of subscription fees and opportunities to save on registration through Eduyush make it an attractive proposition for professionals worldwide.
Visit the official ACCA website for the most current fee details and to start your journey towards mastering IFRS.
]]>In a rapidly evolving financial landscape, staying ahead in the accounting and finance sectors requires more than just a fundamental understanding of numbers. It demands a comprehensive skill set encompassing technical knowledge, technological proficiency, and exemplary leadership qualities.
Whether you’re a budding finance enthusiast or an experienced professional aiming for the next level, taking online accounting courses can significantly impact your career trajectory.
The triage of technical, technology, and leadership skills does more than prepare finance professionals for the challenges of today's industry; it lays a robust foundation for career advancement and opens doors to myriad opportunities. Here's how mastering these skills can propel career growth in finance:
Technical skills enable professionals to specialize in niche areas of finance, such as investment banking, financial analysis, or corporate finance. This specialization makes them invaluable assets to their organizations and often leads to roles with greater responsibility and higher compensation.
Program name | Actual price INR | Eduyush price INR | Course provider |
Diploma in IFRS | 42000 | 30,000 | ACCA |
IFRS Certification | 115,000 | 33,000 | AICPA |
XBRL fundamentals | 91,000 | 49,000 | AICPA |
Core Forensic Accounting Certificate | 40,000 | 22,000 | AICPA |
Fundamentals of ESG Certificate | 34,500 | 20,200 | AICPA |
ESG and Sustainable Financial Strategy Course by Oxford | 200,000 | 200,000 | Oxford |
Diploma in Islamic Finance | 88,000 | 54,000 | CIMA |
We list down some of the popular certifications for audit and tax
Program name | Actual price INR | Eduyush price INR | Course provider |
US International taxation course | 106,000 | 53,000 | AICPA |
Tax Staff Essentials - S Corporations: | 51,000 | 31,000 | AICPA |
Tax Essentials & Retirement planning (Bundle) | 93,000 | 54,000 | AICPA |
Tax Staff Essentials - Individual Taxation Bundle | 64,000 | 37,000 | AICPA |
Fundamentals of Forensic Accounting Certificate Program | 74,000 | 41,000 | AICPA |
Cybersecurity Advisory Services Certificate Program Bundle | 158,000 | 88,000 | AICPA |
SOC for Cybersecurity Certificate Program | 101,000 | 57,000 | AICPA |
Cybersecurity Fundamentals for Finance and Accounting Professionals Certificate | 43,000 | 23,000 | AICPA |
Technology skills position finance professionals at the forefront of innovation in an era where digital transformation is paramount. Professionals can streamline operations, enhance accuracy, and uncover insights that drive strategic decisions by mastering financial software and data analysis tools. Furthermore, being versed in emerging technologies like blockchain and AI opens up opportunities in fintech and digital finance, sectors experiencing rapid growth and demand for skilled professionals.
We list down some of the popular certifications
Program name | Actual price INR | Eduyush price INR | Course provider |
Data Processing and Analysis Certificate | 50,000 | 28,000 | AICPA |
Getting started with data analytics (bundle) | 62,000 | 33,000 | AICPA |
Data Power pack Bundle | 65,000 | 37,000 | AICPA |
Data analytics core concepts certificate | 35,000 | 20,000 | AICPA |
Blockchain Fundamentals for Accounting and Finance Professionals Certificate | 22,000 | 13,600 | AICPA |
Leadership skills catalyze transitioning from technical or specialist roles to management and executive positions. Finance professionals who can lead teams, drive strategic initiatives, and communicate effectively are prime candidates for leadership roles.
These roles have an increased influence on organizational direction and significantly higher earning potential and job satisfaction. Developing leadership skills is a strategic investment in one's career, enabling professionals to navigate the complexities of organizational dynamics and effect change at the highest levels.
Program name | Actual price INR | Eduyush price INR | Course provider |
Ethics with a Dash of Courage | 7,800 | 4,200 | AICPA |
Ethics Under Stress | 7,800 | 4,200 | AICPA |
Ethics without Fear | 7,800 | 4,200 | AICPA |
Transformative Skills Pack | 60,000 | 34,000 | AICPA |
Controller 2 Bundle | 71,000 | 39,000 | AICPA |
Finance transformation - Ignite Change | 51,000 | 26,000 | KPMG |
ESG and Sustainable Financial Strategy Course by Oxford | 200,000 | 200,000 | Oxford |
Integrating technical, technology, and leadership skills provides a comprehensive toolkit that empowers finance professionals to excel in their current roles and strategically position themselves for career advancement.
This synergistic approach to skill development ensures that finance professionals are capable of navigating the finance sector's complexities and are prepared to lead its evolution. Investing in these skills is investing in one's career longevity and success, making it a crucial consideration for anyone looking to grow and thrive in the finance industry.
]]>Are you ready to elevate your accounting game and become a globally recognized expert? Discover the ultimate guide on How to Register for Diploma in IFRS and why you can't afford to overlook this golden opportunity!
Whether you want to enhance your career prospects or expand your knowledge, registering for the DipIFR can be a significant step forward. In this blog, we'll walk you through registering for the ACCA Diploma in IFRS, making your journey as smooth as possible.
Before diving into the registration process, it's crucial to understand what the DipIFR is and who it's for. The ACCA Diploma in IFRS is designed for:
To register for the DipIFR, use the IFRS eligibility tool to check
Link: IFRS eligibility tool will give you the answers in less than 2 minutes
Ensure you have the necessary documentation to prove your eligibility when applying.
After completing your registration, the next critical step is to dive into your studies. Success in the ACCA Diploma in IFRS exam relies heavily on accessing high-quality study materials and receiving expert guidance. Here's how you can make the most out of your preparation:
BPP Learning Media is ACCA's only approved content provider for the DipIFR, offering comprehensive and up-to-date study texts and practice materials. These books are specifically designed to cover the syllabus and exam requirements effectively. To purchase BPP books:
BPP books are essential for deepening your understanding of IFRS standards and enhancing exam preparation.
Registering for the ACCA Diploma in IFRS is a straightforward process that offers finance professionals numerous opportunities. Utilizing resources like Eduyush for discounts on the registration fee can make this valuable qualification more accessible.
By following the steps outlined above and preparing diligently for your studies, you'll be well able to achieve this essential accreditation.
Remember, obtaining the DipIFR enhances your professional knowledge and significantly boosts your career prospects in the global finance industry.
]]>In the domain of global finance and accounting, the IASB full form — International Accounting Standards Board — serves as a pivotal force in steering the uniformity of accounting standards worldwide. This blog entry explores the core nature of the IASB, outlining its fundamental goals, evolution over time, and critical function in molding the landscape of international financial reporting.
IASB Full Form: Illuminating the Path of International Accounting Standards
The International Accounting Standards Board (IASB) plays a pivotal role in shaping the global financial landscape. By setting widely accepted standards, the IASB ensures transparency, accountability, and efficiency in the financial world. This article delves into the complete form of IASB, its functions, impact, and future directions, offering insights into its critical role in international finance.
Introduction to IASB full form
The International Accounting Standards Board (IASB) is an independent, private-sector body that develops and approves International Financial Reporting Standards (IFRSs). Established to bring about uniformity and transparency in accounting standards worldwide, the IASB's efforts have significantly influenced how financial transactions and positions are reported and interpreted across borders.
Understanding the IASB full form
IASB stands for the International Accounting Standards Board, reflecting its mission to establish a single set of global standards. By doing so, the IASB aims to ensure that financial statements are transparent, comparable, and high-quality, facilitating investors, creditors, and others to make informed economic decisions.
Invest in the Right IFRS course
The IASB was established in 2001, succeeding its predecessor, the International Accounting Standards Committee (IASC). This transition marked a significant shift towards a full-time, independent board with a more rigorous standard-setting process. The IASB formed a response to the increasing need for global consistency in financial reporting, spurred by the globalization of business and investment.
IASB at a glance
Statistic | Number |
---|---|
Number of IFRS Standards Issued | 17* |
Number of Countries Using IFRS | 140+ |
Number of IAS Standards Issued | 41 |
Number of Members in the IASB | 14 |
Number of Interpretations Issued (IFRIC/SIC) | 35 |
Years Since Establishment (as of 2024) | 21 |
Number of Exposure Drafts Issued (2020-2024) | 10+ |
Number of Final Amendments Issued (2020-2024) | 5+ |
IFRS 18 is the latest standard to be issued by IASB. Read on the changes
Grow your career with the AICPA IFRS certification program
The primary objective of the IASB is to develop a single set of high-quality, understandable, enforceable, and globally accepted accounting standards—IFRS. These standards aim to provide valuable information to investors and other users of financial statements to make informed economic decisions. The functions of the IASB extend to:
The International Accounting Standards Board (IASB) has significantly contributed to global financial reporting, aiming to enhance transparency, accountability, and efficiency in the global capital markets. Here are some of its significant contributions simplified into bullet points:
The IASB's efforts have significantly contributed to the goal of a single set of global accounting standards, enhancing comparability and understanding of financial information worldwide.
Pass the Diploma in IFRS exams with us in one go
The International Accounting Standards Board (IASB) faces several challenges in establishing and enforcing global financial reporting standards.
The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) are cornerstone institutions in the field of financial reporting, with the IASB setting the International Financial Reporting Standards (IFRS) for over 140 countries and the FASB establishing Generally Accepted Accounting Principles (GAAP) in the United States.
Established in 2001, the IASB aims to develop globally accepted high-quality accounting standards to enhance transparency and comparability in financial reporting. In contrast, the FASB, founded in 1973, focuses on ensuring that financial statements in the U.S. are consistent, relevant, and reliable for decision-making purposes.
The primary distinction between the two lies in their approach: IFRS is principles-based, offering broad guidelines that grant more flexibility to accountants in reporting financial activities, whereas U.S. GAAP is rules-based, providing detailed instructions for specific scenarios, which can sometimes lead to complexity.
Despite their differences, both boards have engaged in convergence projects to align their standards, aiming to simplify global accounting practices.
This collaborative effort underscores the ongoing global movement towards standard harmonization, which is crucial for the efficiency of international capital markets. Nonetheless, achieving fully converged standards remains an ongoing challenge, reflecting the complexity and diversity of global financial reporting environments.
Looking ahead, the IASB continues to engage in projects that address emerging financial reporting issues, reflect changes in the market, and respond to stakeholder feedback. The board’s proactive approach to adapting and evolving IFRS standards ensures they remain relevant in a rapidly changing global financial landscape.
The International Accounting Standards Board is more than an entity setting global accounting standards; it's a cornerstone of global financial transparency and accountability.
Through its steadfast commitment to developing high-quality standards, the IASB facilitates a level playing field for international finance, enabling investors and businesses to make informed decisions grounded in reliability and comparability. As we move forward, the IASB's role will undoubtedly continue to be integral in shaping the future of global financial reporting.
]]>The landscape of financial reporting is on the brink of a significant transformation with the anticipated introduction of IFRS 18 by the International Accounting Standards Board (IASB). Expected to be published in April 2024, IFRS 18 will set new precedents in presenting and disclosing financial statements, replacing the longstanding IAS 1 Presentation of Financial Statements.
This upcoming standard promises to enhance the comparability of financial performance across entities, which will invariably impact how organizations report their financial outcomes.
At a glance
The inception of IFRS 18 is driven by the need to address inconsistencies in financial reporting, mainly how entities present and define operating profits and management performance measures.
These variances have historically made comparing financial performance across different organizations challenging.
IFRS 18 aims to rectify this by standardizing the classification of income and expenses into distinct categories and introducing mandatory sub-totals in the profit or loss statement. These changes promise to streamline financial reporting and enhance transparency.
Under IFRS 18, income and expenses will be classified into five distinct categories:
This new categorization aims to foster consistency across financial statements. However, it's crucial to note that this does not directly align with the categories in the statement of cash flows as mandated by IAS 7.
IFRS 18 introduces two mandatory sub-totals in the profit or loss statement: Operating Profit or Loss and Profit or Loss Before Financing and Income Tax. These requirements aim to provide a clearer picture of an entity's financial performance, aligning with the standard's goal of improving comparability.
IFRS 18 introduces two mandatory sub-totals:
These additions are designed to provide more precise insights into an entity's financial performance beyond what current non-IFRS information might offer.
Read and listen to a lecture on the regulatory framework on IFRS
The standard will enforce stricter rules on how items are aggregated or disaggregated in financial statements, ensuring that material items are adequately separated and that the use of generic labels like 'other' is minimized.
A notable change under IFRS 18 is its impact on the statement of cash flows. Entities using the indirect method will now start with the Operating Profit subtotal as the basis for reporting cash flows from operating activities. This alignment ensures a consistent approach to reporting cash flows, further enhancing the comparability and understanding of financial statements.
Learn the difference between conceptual framework and accounting standards
IFRS 18 removes the requirement to present each material class of similar items separately, focusing instead on the disaggregation of items to produce helpful information. The standard introduces stricter requirements for aggregation and disaggregation, ensuring that financial statements provide a detailed and structured summary of an entity's financial activities. This approach aims to balance the need for detailed information with the overarching goal of clarity and usefulness.
The proliferation of alternative performance measures has often led to confusion among stakeholders. IFRS 18 seeks to clarify this area by defining management-defined performance measures and setting specific disclosure requirements for these measures. By doing so, IFRS 18 ensures that entities communicate their financial performance more transparently, providing stakeholders with a clearer understanding of the financial metrics that management deems most relevant.
Entities must disclose detailed information about management-defined performance measures, including their calculation, relevance, and a reconciliation to the most directly comparable IFRS-specified subtotal or total. These disclosures must be included in a single note within the financial statements, ensuring stakeholders can access comprehensive information about how management views the entity's financial performance.
With an effective date projected for annual periods beginning on or after 1 January 2027, entities can adapt to the new requirements. The transition to IFRS 18 represents an opportunity for entities to refine their financial reporting processes, enhancing financial information's accuracy, comparability, and transparency.
As the implementation date approaches, entities must assess the impact of IFRS 18 on their reporting systems and processes, making necessary adjustments to ensure compliance. The introduction of IFRS 18 marks a significant milestone in the evolution of financial reporting, promising to bring about a new era of transparency and comparability in financial statements globally.
]]>Global Recognition:
IFRS is the global standard for financial reporting. We are certifying your proficiency signals to employers that you understand the complexities of international accounting standards.
Competitive Edge:
In a competitive job market, an IFRS certification sets you apart. It demonstrates your commitment to staying current with industry standards, making you a valuable employer asset.
Career Opportunities:
IFRS expertise opens doors to diverse career opportunities in finance, accounting, audit, and consultancy. It's particularly beneficial for roles with an international focus.
IFRS Eligibility Got You Confused? Here's What You Need to Know
Industry Relevance:
Recruiters actively seek candidates with IFRS certification, knowing they possess a strong foundation in international financial reporting.
Skill Enhancement:
IFRS certification enhances your technical skills, including financial statement presentation, revenue recognition, and understanding of financial instruments.
Salary Insights:
While salaries vary based on experience and location, IFRS certification often leads to higher earning potential. Certified professionals are positioned as experts, justifying competitive compensation.
Students report a jump of 30% in salaries within a year of completion of this course. Fromm a returns perspective, investing close to 40K should give you the same within 2-3 months.
Revealing the Insights of IFRS Salary In India: How It Impacts Your Career!
Career Advancement:
Certification opens doors for career progression. Whether entering the job market or seeking advancement, IFRS proficiency is a valuable asset. Everyone from a fresher to a CFO needs to know IFRS. Knowing IFRS will go a long way in getting yourself promoted faster.
Preferred Credentials:
Recruiters increasingly prioritize candidates with IFRS certification. It assures them of your ability to navigate complex international financial reporting landscapes.
Industry Demand:
Industries dealing with global financial transactions, multinational corporations, and auditing firms have a high demand for professionals well-versed in IFRS.
Certification as a Requirement:
In many job postings, IFRS certification is listed as a preferred or required qualification, emphasizing its significance in candidate selection.
Key Summary
Aspect | AICPA IFRS | ACCA DIPIFR |
---|---|---|
Flexibility | Self-paced. | Significant time commitment of at least 1 year |
Pass rates | 100% | Less than 10%. |
Renewal | Every two years. | Periodic recertification required. |
Exam Structure | Self paced MCQ format | Includes a challenging comprehensive exam. |
Cost | INR 32600 for unlimited attempts within one year | Relatively higher cost. INR 32,000 for one attempt |
Passing Rates | Not available. | Historically low passing rates. |
Recognition | Global recognition | Global recognition |
Conclusion | Practical choice, broad coverage. | Deep dive into IFRS with challenging ex |
After completing your BCom, delving into IFRS certification is a strategic move. Let's explore the AICPA and ACCA certifications to guide your decision.
Pros:
Cons:
Cons:
For Time-Strapped Individuals:
If time is a constraint, AICPA IFRS is a practical choice. It provides a solid foundation and allows a more immediate application of IFRS principles.
For In-Depth Knowledge Seekers:
If you desire a comprehensive understanding and have the luxury of time, ACCA DIPIFR offers a deep dive into IFRS with a challenging exam.
Ultimately, the choice between AICPA and ACCA depends on your goals, time availability, and the depth of knowledge you seek. Both certifications have merits, and aligning your choice with your career aspirations is crucial.
Remember, individual experiences may vary, so it's wise to explore each program's specifics and consult professionals in the field.
Embarking on the IFRS certification journey after BCom is a strategic move for a successful and rewarding career. Individual choices should align with career goals, time availability, and desired knowledge depth.
]]>Embarking on the ACCA Diploma in IFRS journey is a commendable step towards mastering international financial reporting standards.
Delving into the insights provided by the ACCA DIPIFR Examiner Team offers valuable guidance for upcoming exams in 2024 and 2025. Beyond mere technical proficiency, these insights shed light on common mistakes and strategies to ace the exams.
Let's navigate the key takeaways from the examiner's lens to enhance your exam preparedness.
IFRS Diploma: From Zero to Hero in Just a Few Steps
IFRS Eligibility Got You Confused? Here's What You Need to Know in 2024
Success in ACCA DIPIFR exams goes beyond rote learning. It requires a holistic approach encompassing scenario understanding, precise application of standards, comprehensive computations, and effective time management.
Eduyush, with its exceptional pass rates and students consistently achieving scores above 80%, stands as a testament to effective preparation strategies. Aspiring candidates can explore Eduyush's ACCA DIPIFR training course to cover the feedback above points and enhance their overall exam readiness.
Success awaits those who navigate the exam landscape with proficiency and strategic insight. Happy studying!
]]>Embarking on the journey to complete a qualification such as the ACCA or the Diploma in IFRS is commendable, signifying a profound understanding of international financial reporting standards. Yet, the achievement doesn't end with the diploma in hand.
It's a strategic juncture, a pivotal moment where you can propel your professional trajectory to new heights. One powerful platform awaits your mastery – LinkedIn.
In this blog post, we'll explore the art and science of updating your LinkedIn profile post-ACCA IFRS Diploma.
To maximize the impact of this achievement on your LinkedIn profile, consider the following tips:
LinkedIn Profile Enhancement Tips | Details |
---|---|
Update Your Photo | - Choose a high-quality, forward-facing photo. |
- Maintain professionalism, a genuine smile, and direct eye contact. | |
- Dress in industry-appropriate attire with an uncluttered background. | |
Update Your Headline | - Include "ACCA Diploma in IFRS" for immediate visibility of your accomplishment. |
Optimize Your Summary | - Write a concise and compelling summary highlighting your IFRS expertise. |
Add a Dedicated Education Section | - Create a new entry for ACCA Diploma in IFRS with institution details and completion date. |
Showcase Skills | - Feature IFRS-related skills prominently in the skills section. |
Highlight Achievements | - Under job experiences, emphasize IFRS contributions and specific achievements. |
Recommendations and Endorsements | - Request recommendations showcasing your IFRS proficiency. |
Join Relevant Groups | - Join LinkedIn groups related to IFRS, accounting, and finance for networking. |
Share Relevant Content | - Share IFRS-related articles, updates, or insights on your LinkedIn feed. |
Engage With Your Network | - Comment, share thoughts, and actively participate in discussions to strengthen connections. |
Regularly Update Your Profile | - Keep your profile current with new certifications, experiences, or achievements related to IFRS. |
Your LinkedIn profile photo is your digital first impression—a visual representation of your professional identity. Choose a high-quality, forward-facing photo that exudes confidence and power for optimal impact. A genuine smile and direct eye contact can convey approachability while maintaining a professional demeanour. Ensure the background is uncluttered, focusing solely on you—dress in professional attire that aligns with your industry, projecting competence and reliability.
By implementing these suggestions, you can effectively showcase your ACCA Diploma in IFRS on your LinkedIn profile and enhance your professional visibility within the accounting and finance community.
If you would like to know more about ACCA or Diploma in IFRS, feel free to contact our team at info@eduyush.com
]]>Unlocking success in the ACCA Diploma in IFRS is a journey worth navigating. As you embark on this path in 2024, discover the key strategies to conquer the challenges and emerge victorious in exam.
In this blog, we share 8 top tips given by our Dec 23 batch that will redefine your approach to the Diploma in IFRS exams. Whether you're a seasoned professional or a budding accountant, these insights will pave the way for a seamless and successful learning experience.
With ACCA pass rates hovering between 35% to 45%, these 8 tips will sure shot get you a score in excess of 70%
Watch the video as the Dec 23 world toppers share their exam strategies on how they passed the exams with scores over 85%
Student Insights: Varsha, Irfan, Sandeep, Shayantani, Rupika (world topper at 90%), Pushpa, Aakansha, Asfarin
1. Consistent Revision Strategies:
2. Practical Exam Simulation:
3. Stress-Free Practice:
4. Strategic Exam Techniques:
5. Comprehensive Preparation:
6. Daily Consistency:
7. Confidence and Mindset:
8. Interactive Learning:
Conclusion:
Success in the ACCA DIPIFR exams is not a one-size-fits-all approach. However, the common themes of consistency, strategic preparation, stress-free practice, and a positive mindset echo through these valuable insights. Tailor these strategies to your unique study routine, and may your journey be as successful as those of these high-achieving students.
Best of luck on your DIPIFR adventure!
]]>Global markets are more connected than ever, and amid this integration stands a monumental set of standards: International Financial Reporting Standards (IFRS). With over 140 countries adopting or endorsing IFRS, its influence is evident. But how do you stand out in such a vast pool of finance professionals?
Here's a staggering fact: job postings demanding IFRS expertise surged nearly 30% in the last five years. The need is evident. However, with increasing demand, the bar for expertise has also risen.
Mere familiarity with IFRS no longer suffice in the competitive job market. But as businesses cross borders and financial transparency becomes paramount, merely understanding IFRS might leave you in the audience rather than on the main stage.
Job portals in India show IFRS as the #1 skill job posted by recruiters required in finance professionals, surpassing the nearest USGAPP three times.
Revealing the Insights of IFRS Salary In India: How It Impacts Your Career!
Imagine two candidates - both fluent in IFRS. One has hands-on experience, while the other holds an IFRS certification from recognized bodies like AICPA or ACCA. Given that over 50% of global finance job listings now prefer (or even mandate) IFRS certification, the latter candidate possesses a competitive edge.
Discover the Best IFRS Certification Course in the World: A Comprehensive Review!
Scope of IFRS and objective. Growth and Skilling in IFRS
The AICPA (American Institute of Certified Public Accountants) and the ACCA (Association of Chartered Certified Accountants) are the most renowned and recognized global accounting bodies. Regarding IFRS certifications, courses from these two entities are highly sought after. Here's a detailed write-up explaining why:
AICPA IFRS vs ACCA DIPIFRS - Which is the Better Choice
In sum, while many IFRS certification courses are available globally, those offered by AICPA and ACCA stand out because of the institutions' commitment to excellence, their global recognition, and the comprehensive nature of their programs. These certifications are the gold standard for professionals aiming to achieve depth and breadth in their IFRS knowledge.
Pass the ACCA Diploma in IFRS exams with us in your first go
While knowledge is undoubtedly valuable, certification offers a quantifiable and verifiable benchmark of that knowledge. In the realm of online job searches and platforms like LinkedIn, where the competition is stiff and global, an IFRS certification elevates a candidate's profile. It instils confidence in recruiters about the candidate's capabilities and commitment.
If you would like to know more, speak to our teams at +919643308079 or email us at info@eduyush.com
]]>This blog will guide you through obtaining an IFRS Diploma from ACCA, providing you with a clear roadmap.
If you do need help in registering and passing the Diploma in IFR exams, please do reach out to us
Conclusion: Obtaining an IFRS Diploma from ACCA is a valuable achievement that enhances your knowledge and credibility in international financial reporting. By following this step-by-step guide, you can navigate the process effectively and work towards obtaining the IFRS Diploma. Remember to stay focused and dedicated and utilize the resources provided by ACCA to maximize your chances of success. Good luck on your journey.
]]>Are you searching for a reliable and comprehensive International Financial Reporting Standards (IFRS) course that covers accounting policies, financial statement presentations, financial instruments, and other crucial topics? Or are you looking for insights into a student's personal experience of the program? Look no further!
As a professional in the accounting and finance industry, staying up-to-date with the latest financial reporting standards is essential. However, with numerous courses available in the market, selecting one that suits your needs can take time. It's essential to gain insights from individuals who have taken the course to assess its quality and relevance.
Recently, we interviewed Felix John, who completed the AICPA IFRS certification and gained valuable insights into the program. The student shared honest feedback on the course's structure, content, and overall experience. Through our interview, we discovered that the course covers a wide range of topics related to IFRS, making it a comprehensive and engaging learning experience.
By enrolling in the AICPA IFRS course, you can gain valuable knowledge and skills related to IFRS adoption and implementation, accounting principles, financial disclosures, financial analysis, and more. The course is designed to provide a deep understanding of IFRS and equip you with the necessary skills to apply IFRS effectively in your organization.
AICPA IFRS vs ACCA DIPIFRS - Which is the Better Choice?
CA Finalist / ACCA DipIFR / IFRS & US GAAP Fundamentals - AICPA
1. What do you think was the most valuable part of the program and why?
Response: I have been working in the accounting and audit industry for the past eight years, and this has been one of the most flexible certification programs to complete. Self-paced modules can be completed at our own pace, and being a working professional, spending a few hours a day regularly was sufficient.
2. What made you choose the program with AICPA & CIMA?
Response: AICPA & CIMA is globally recognized, and completing the program gives professionals an edge over their peers. AICPA offers many programs based on rapid changes in the industry, like blockchain accounting, ESG programs and data analytics.
3. What was your learning experience and outcome of doing this program?
Response: Conceptual clarity for specific IFRS has been helpful while applying them in real-life situations. Preparing financials or auditing them has been much more straightforward after completion of the program.
4. How will this learning help you in your career?
Response: This program has given me the knowledge to understand the differences between the local GAAP (IND AS) and IFRS. The digital badge received after completion of the program has helped me while applying for jobs
Navigating the AICPA IFRS Certificate: A Student's Tale of Triumph and Tribulations
5. How would you rate this program?
(How would you compare with similar market offerings available)
Response: 4/5
This program is flexible, and the MCQ tests can be taken multiple times for each module compared to other certifications, where you need to give a computer-based examination at a predetermined date for the entire curriculum. The program is priced slightly on the higher side.
6. Any other comments/views/feedback/recommendations
Response: A more interactive module and the portal's software loading/buffering time can be improved.
Which is better IFRS, ACCA Diploma in IFRS or AICPA IFRS certification?
To enrol in the AICPA IFRS course, we recommend contacting Eduyush.com, a leading provider of professional development courses. By enrolling through Eduyush.com, you can access AICPA courses at India pricing, personalized counselling, and comprehensive course materials to ensure your success.
]]>Are you looking to take your accounting career to the next level? Then, the ACCA Diploma in IFRS is what you need.
The ACCA DipIFRS is an internationally recognized certification demonstrating your International Financial Reporting Standards (IFRS) expertise.
This diploma is designed to equip you with the knowledge and skills to apply IFRS in various business contexts, making you a valuable asset to any global organization.
By obtaining the ACCA DipIFRS, you can gain a competitive edge in the job market and improve your job prospects with lucrative salaries. This certification can help you to advance your career and increase your earning potential. Moreover, with IFRS being increasingly adopted worldwide, this diploma can open up new opportunities for you in local and international markets.
If you're interested in obtaining the ACCA DipIFRS, take the first step today by checking your eligibility.
Diploma in IFRS eligibility in brief
Critical Points | Summary |
---|---|
Eligibility Criteria |
1. ACCA qualification or equivalent. 2. Bachelor's or master's degree with relevant three-year work experience. 3. Other professional qualifications with accounting work experience. 4. CA students with three years of articleship. |
Ineligible Qualifications |
1. Company Secretary (ICSI). 2. Cost Accountant from ICWAI without three years of work experience. 3. CMA US, CFA, and any undergraduate degree except B.Com in India. |
Considerations for BCom Students |
1. Strong background in accounting standards. 2. Practical exposure to financial reporting practices under IFRS. 3. Recommended minimum study duration of 250 hours. |
Eduyush Assistance |
As an approved ACCA partner, Eduyush offers discounts on registration fees, tuition, and BPP books. |
To be eligible for the ACCA ACCA DipIFRS, you must have completed one of the following qualifications:
While (ACCA offers a pathway for Bachelor of Commerce (BCom) graduates with two years of work experience to pursue its Diploma qualification, it's essential to consider the implications carefully.
While this opportunity may seem attractive at first glance, it's crucial to weigh the pros and cons before committing.
One significant factor to consider is the pass rates, which have historically been below 10% for Bcom students for this qualification. We recommend Bcom students if they fulfil the below three criteria only to apply for Diploma in IFRS
Many Finance professionals who want to do IFRS may not be eligible. We do get a lot of inquiries, and we advise the following professionals to take the AICPA IFRS certification instead
Qualifications not eligible for ACCA Diploma in IFRS
1) Company Secretary from the Institute of Company Secretaries of India (ICSI)
2) Cost Accountant from ICWAI unless he has three years of Work experience
3) CMA US
4) CFA
5) Any undergraduate degree apart from B.com in India
IFRS Certification After BCom: AICPA vs. ACCA
You may still be eligible for an IFRS certification if you meet the above criteria. Check out the IFRS certification offered by the American Institute of Certified Public Accountants or the AICPA.
Please speak to our teams today to better understand your eligibility or to understand your requirements. We do enrol students world over and help them get their discounts on registration and BPP books.
When should one take the ACCA DIPIFR exam
The ACCA DipIFRS is a comprehensive qualification that covers all aspects of international financial reporting standards. The exam is examined into two parts:
The ACCA DIPIFR is a 3-hour exam set and marked by ACCA. The exam format includes a consolidation question and 5-8 case study-based questions, which test your ability to apply IFRS principles to real-world situations. You'll need to score 50% to obtain the Diploma in IFR by ACCA.
How to pass the ACCA Diploma in IFR, hear stories of successful students.
Holding the ACCA DipIFRS can significantly enhance your job prospects, as it demonstrates your expertise in international financial reporting standards. Some of the job roles that may benefit from this qualification include:
Employers across various industries, including banking, finance, and accounting, value the ACCA Diploma in IFRS, as it shows that you thoroughly understand these standards. This qualification can help you stand out in a competitive job market and open new career opportunities.
IFRS Diploma: From Zero to Hero in Just a Few Steps
The fees for the ACCA DipIFRS vary depending on your location and study mode. The fees typically include registration, tuition, and exam fees.
Eduyush is an approved ACCA partner who can help you get discounts on the initial registration fees, tuition, and BPP books. Please get in touch with our teams for a free consultation or browse our program page.
How to find a good IFRS Training course provider
The ACCA DipIFRS is a highly regarded qualification that can significantly enhance your career prospects in the accounting and finance industry. You must have completed one of the recognized qualifications or have sufficient work experience to be eligible.
Holding the diploma can open up new job opportunities across various industries and demonstrate your expertise in this area. If you're interested in pursuing the ACCA Diploma in IFRS, review the eligibility criteria and exam format, and consider enrolling with Eduyush's IFRS course program.
]]>Since the Russian invasion of Ukraine, there has been much speculation about the possible accounting implications for companies with operations in the region. This blog post will examine some key issues and discuss how companies should proceed with their financial reporting. As always, please feel free to share your thoughts in the comments section below. Thanks for reading!
The economic landscape of the past 15 years has been nothing but a roller-coaster ride for companies. From financial crises and natural disasters to COVID -19, it's hard not to have an impact on your company balance sheet or income statement in some way!
The economic disruptions in Ukraine have caused a plethora of new accounting standards that companies will need to consider. From lost revenue due to the strengthening dollar, price changes for goods imported from Russia and sales downlines because some suppliers can no longer operate or transport cargo across borders - all these factors are worth considering from an accounting point of view.
We briefly discuss this critical accounting and how it impacts your financial statements.
● Asset impairmentsThe current environment is unique because of the difficulty in forecasting future cash flows and profitability.
Although IFRS financial statements are grounded in historical cost, expectations of future cash flows are critical to the many judgments and estimates used to develop reported amounts. Thus, while the financial reporting topics are familiar, the underlying events may not be.
A loss is recognized when there is evidence that costs cannot be recovered because of damage, physical deterioration, obsolescence or changes in price levels. Manufacturing companies may need to consider how a reduction in production might affect the amount of fixed overhead costs allocated to inventory. To the extent that production is abnormally low, IFRS requires that excess overhead costs be expensed in the period incurred.
This is a complicated area that requires judgement, assumptions and knowledge of the accounting rules.
Tangible long-lived assets such as property, plant and equipment may be damaged, abandoned or impaired. Their useful lives or salvage values may be affected by changes in market conditions. Market conditions can also affect the useful lives and recoverability of long-lived intangible assets such as licenses, drilling, water or mineral rights, and customer lists.
IFRS identifies impairment indicators that require the company to perform impairment tests for these long-lived assets. Among those indicators are
(a) a significant adverse change in the business climate, and
(b) The asset is expected to be sold or disposed of shortly. Significantly before the end of its previously estimated useful life.
Impairment indicators for indefinite-lived intangible assets include legal and political factors and macroeconomic conditions that could affect significant inputs to the asset's fair value. Companies are legally obligated to reassess whether they can continue using the outdated method of assessing intangible assets.
Impairment tests need to be performed in a particular order if impairment indicators are present for assets that are held for use.
Indefinite-lived intangible assets are tested first, followed by groups of long-lived assets.
Companies whose businesses are directly or indirectly affected by Russia's invasion of Ukraine may make strategic decisions that result in the sale or relocation of a line of business or a reorganization of the company's operations.
Liabilities for costs associated with exit-related activities are recorded at fair value when the liability is incurred. A restructuring or exit plan does not, in and of itself, give rise to liability. Instead, a liability is recognized when a transaction or event provides the company with little to no discretion to avoid settling the obligation.
For example, costs to relocate employees or production facilities are not recognized before they are incurred, even though they are incremental to regular operating expenses. Similarly, future operating losses are not recognized until they are incurred.
Companies should distinguish between the sale or termination of a line of business that represents a discontinued operation and one that does not.
To qualify for discontinued operations treatment, the disposal (whether by sale or otherwise) must include a component (or group of elements) of the company whose disposition represents a strategic shift that will significantly affect the company's operations and financial results. A component of a company is one whose operations and cash flows can be distinguished (operationally and for financial reporting purposes) from the rest of the company.
If the portion of the company's operations to be disposed of qualifies for discontinued operations treatment, classification as a discontinued operation does not occur until the held-for-sale criteria are met. These criteria include several essential conditions, including that a sale is probable to occur within a year. In some fact patterns, discontinued operations classification will not be appropriate until the sale (or other disposal transaction) occurs.
Under IFRS 13, the fair value represents the price received for an asset (or paid to transfer a liability) in an orderly transaction between market participants at the measurement date.
Several accounting topics require an estimate of fair value. Some important considerations to keep in mind when markets are in turmoil are the following:
● Orderly transactions vs distressed sales: A decline in market activity nor price volatility within a market necessarily leads to the conclusion that transactions in that market are not orderly. Fair value estimates are intended to represent the current fair value of an asset or liability at the measurement date. Imbalances of supply and demand or changes in the number of market participants do not necessarily indicate that current transactions do not involve willing, knowledgeable market participants.
● An Intent to sell: Whether the company would be willing to sell an asset at current prices is not relevant because fair value is not determined through the eyes of the seller, i.e., it is not an entity-specific measurement. As noted above, the objective of a reasonable value estimate is to determine the current price a company would obtain in an orderly transaction between market participants under the market conditions that exist at the measurement date.
● Valuation techniques: Market disruptions could result in a company concluding that it should use a different valuation technique. However, it would not be appropriate to use a method that relies on unobservable inputs (Level 3) when there are orderly transactions that provide relevant price information or other observable inputs (Level 2). Note that the rules require disclosure when a company changes its valuation approach or technique.
There are several income tax considerations that companies may need to address. Two of the more likely topics to arise, given the economic consequences of Russia's invasion of Ukraine, are
1) the realizability of deferred tax assets (including carryforwards) and
2) the assertion that foreign earnings are indefinitely reinvested.
Although companies with significant operations in eastern Europe are most likely to encounter these income tax issues, the ripple effects of global markets may make the realizability of deferred tax assets and the ability to assert that foreign earnings are indefinitely reinvested essential considerations for a wider audience.
Some companies may encounter cash flow issues due to increasing costs or declining revenues. Others may face difficulties meeting loan covenants due to impairment or exit activities.
When debt terms are modified, companies should consider whether the amended arrangement represents
The accounting models for each are different.
When a loan covenant has been violated or another default exists, companies should consider whether long-term classification remains appropriate.
Considerations related to trade receivables could present themselves in several ways. A customer may be unable to pay for goods or services that have already been delivered. There may be a change in the estimate of variable consideration under an existing contract arising from concerns regarding collectibility. A revenue contract might be modified to allow for extended payment terms.
A customer's inability to pay due to credit problems is distinct from a price concession granted by the seller to incentivize payment and thus is accounted for as a bad debt outside of revenue. A change in the estimate of variable consideration that does not result from a modification of the terms of the revenue contract would generally be recognized via a cumulative catch-up adjustment to revenue in the period the change in estimate occurs.
Extended payment terms may indicate that the agreement includes a significant financing component, potentially affecting the transaction price for the time value of money.
A loss contingency is an existing condition, situation or set of circum- stances involving uncertainty as to possible loss that will ultimately be resolved when one or more future events occur or fail to occur when it is probable that a loss has been incurred. The loss can be reasonably estimated, and the loss contingency is recognized.
While many companies may not encounter loss contingencies directly from the Russia- Ukraine war, the downstream global disruption and instability could create situations where one or more loss contingencies arise. Note that future operating losses do not meet the definition of a loss contingency or expected losses on firmly committed executory contracts.
In preparing the financial statements, management must consider whether some conditions or events raise substantial doubt about the company's ability to continue as a going concern within one year after the balance sheet date.
Each of the accounting topics described above contains specific disclosure requirements. In general, those disclosures call for information about the accounting policies and methodologies that apply to the topic; descriptions of the events or transactions that are the subject of that accounting topic; and information about critical assumptions and inputs that underlie significant estimates and judgements used to measure the transactions or events.
Given the current instability in Ukraine, companies with operations in the region face several difficult decisions regarding their financial reporting. In this blog post, we have examined some key issues to examine for the IFRS Accounting implications of the Russian invasion and offered guidance on how companies should proceed. We hope that this information will be helpful for those making these difficult decisions.
If you are keen on learning IFRS or getting a qualification from either AICPA or ACCA, feel free to reach out to us.
]]>The International Financial Reporting Standards (IFRS) are a set of accounting standards that organizations worldwide use. Over 100 countries have adopted IFRS, and the United States is in the process of doing so.
As the global economy has become more connected, it has become increasingly crucial for businesses to have a common set of accounting standards. This is where IFRS comes in.
If you want to learn more about IFRS, you are in luck. There are many excellent books on the subject. This blog post will list the top 4 best books on IFRS. These books will provide a solid foundation to build your understanding of IFRS.
Here's a quick summary of what we recommend.
Our recommendation is based on your functional profile and need
The Wiley IFRS Standards 2023 book is a revised and comprehensive resource that includes the information you need to interpret and apply the most recent International Financial Reporting Standards (IFRS) outlined by the International Accounting Standards Board (IASB).
Price approx - 8000 INR
Eduyush recommendation:
The only unfavourable point is that some topics are not covered, and reference is given only to other kinds of literature.
The Kindle edition is reasonably priced and can be purchased from Amazon.
PwC's Manual of accounting IFRS is a guide to the International Accounting Standards Board's (IASB) standards. These standards can be complex, but this guide breaks them down into practical advice. The 2023 edition of the book includes updates made since December 2022.
Price for ebook - approx 22,000 INR
Eduyush recommendation:
Pros
Cons
The ACCA's Diploma in International Financial Reporting is designed for accountants who have been qualified by national accounting standards and want to learn about International Financial Reporting Standards (IFRS).
The book has been fully updated to include all portions of the IFRS set so far and reflects technical developments in the subject area. The BPP Learning Media team is an ACCA-approved content provider, meaning they have written this specific text with you in mind!
We also ran a survey of our past ACCA DIPIFR students to give their opinion on this book, here are the poll results
The poll was conducted over 1000+ students and it looks like all of them have given it a great thumbs up and fulfilled their IFRS needs
Price: Paperback. 4300 INR , ebooks 2250 INR
Watch our expert video on usage of passcards
Eduyush recommendation:
Pros
Cons
IFRS For Dummies is a guide that explains IFRS and international accounting and balancing standards. The focus is easy to read and has examples to help you understand the complex subject.
Price ebook - Approx 1300 INR
Eduyush recommendation:
Pros
Cons
These are the top four best books on IFRS. They will provide a solid foundation to learn about this critical topic. With so many countries adopting IFRS, it is becoming increasingly crucial for businesses to have a common set of accounting standards. These books will help you understand why that is and how IFRS works.
If you are looking to get a certification or take training on IFRS. Eduyush offers solutions from both AICPA and ACCA to get your certifications. Do read up our expert blog to know which course is best suited for you.
If you would like to speak with our experts, do WhatsApp us at +919643308079 or leave us an email at ifrs@eduyush.com
]]>Seven common mistakes that many candidates make are
Students can read our blog on 3 tips on how to score heavy for the DIPIFR Exams
These mistakes are not mutually exclusive. Candidates may commit to one or more of the above items. Every time you reduce the number of common errors; you increase your chances of successfully clearing the ACCA SBR / ACCA DIPIFR Exam
]]>IFRS Foundation and the International Accounting Standards Board (IASB) stated objective is to develop a single set of high-quality, understandable, enforceable and globally accepted financial reporting standards based upon clearly articulated principles.
At the time of writing, more than 100 countries now require or permit IFRS use. China has moved its national standards significantly towards IFRS. In recent years, all other major economies, such as Japan and the United States, have moved towards IFRS or established timelines for convergence or adoption shortly.
IFRS Trained professionals are some of the most in-demand globally, and the skills shortage is particularly challenging. Employer demand for the right mix of finance skills in financial reporting is growing faster than what major labour markets can fill. In addition, 45% of CFOs think that attracting qualified or suitable talent is one of the top local challenges.
A DIPIFR can be extremely helpful in boosting your CV and making you more attractive to potential employers. Here are top reasons why:
1. Having an ACCA DIPIFR demonstrates that you have the knowledge and skills required to understand and apply relevant financial reporting standards. This can be valuable for businesses that operate in multiple jurisdictions, or who plan to expand their operations internationally.
2. Understanding IFRS can help you become a more effective financial decision-maker.
2. IFRS touches almost every area of accounting standards. A strong understanding of these standards can help you make better financial decisions both for yourself and for the businesses you work for.
3. By having a diploma in IFRS, you can show potential employers that you are up-to-date with the latest accounting standards. This can give you a competitive edge when applying for jobs, or when negotiating salary and benefits packages.
4. Having a diploma in IFRS on your CV can make you more attractive to potential employers, especially if they operate internationally or are looking for someone with experience in applying these standards.
Pass the ACCA Diploma in IFRS exams with us in your first go
To be eligible for the ACCA DIPIFR exam, you must be either one of the below.
ACCA will provide you with a comprehensive understanding of the interdependency between Financial reporting and accounting and equip you with the applied technical skills to remain relevant and competitive in today’s dynamic and regulatory-driven landscape.
The program will deliver technical and financial reporting skills across a range of standards to provide you with the confidence to apply the reporting skills in large MNCs or complex businesses. Students will also understand using accounting standards for unique Industries and frameworks and what it means to be an ethical professional.
Every December, the syllabus is changed to test students on the latest IFRS standards. The syllabus covers all the standards except complex applications of IFRS under consolidation and financial instruments, IAS 7 cash flows and IFRS 17 – Insurance.
There are primarily four factors driving the demand for IFRS skilled professionals.
The Eduyush program has been designed with the busy working professional in mind and offers you a learning environment where you can learn each course at your own pace or by attending our live lectures. This means you can qualify in as little as 3-5 months to leverage the employer demand sooner.
We have one of the highest pass rates for this course. Our program comes with a no question asked pass guarantee.
We enrol students globally, with most of our students coming from India, the Middle East and Egypt.
Our collection of study materials does give you the edge in applying IFRS in real Industry applications.
Please read our reviews left by our students on.
Linkedin, Youtube, Google, Trustpilot.com
Summary:
The ACCA Diploma in IFRS is a globally recognised qualification that offers accountants the opportunity to develop their knowledge and understanding of financial reporting standards. Adding this qualification to your CV can be extremely beneficial when looking for new opportunities, as it demonstrates your commitment to professional development and your ability to apply international accounting standards. Eduyush can help you achieve this qualification by providing expert tuition and support throughout your studies. If you're interested in learning more about the ACCA Diploma in IFRS, or any of our other courses, please don't hesitate to speak to one of our counsellors.
]]>What to look out for when deciding to take an IFRS course
There are many reasons you might be considering getting certified on IFRS. You might want a promotion, or maybe there's a new job you have been vying for or your company/clients' deals in IFRS.
But where do you begin? How do you get knowledge and get certified? Should you choose between AICPA or ACCA for your needs?
We try and give you an assessment of the differences between both bodies so that you can make a better decision.
Note: Eduyush offers both the ACCA Diploma in IFRS and AICPA IFRS course
About AICPA
The American Institute of CPAs (AICPA) is the world's largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887
About ACCA
The ACCA certification program on IFR is for finance professionals who wish to know and understand International Financial Standards. It increases students' employability by opening the doors of global opportunities as IFRS is mandatory compliance in more than 150 nations across the globe.
ACCA IFRS | AICPA IFRS | |
Eligibity | 3 years of work exp. or CA | Any finance professional |
Exam | 3 hours exam held twice a year | Self Assessment to be completed within 1 year |
Passing rates | between 35% to 45% | Guaranteed pass if you finish the course within 1 year |
Total fees | Approx 28K INR or 350 USD per attempt | Approx 27K INR or 325 USD |
Study materials | Students need to buy books and take coaching separately | AICPA provides the study material in the fees |
Recognition | Europe, Middle East, India | US-based MNC's, Europe, Middle East and India |
Ease of passing | Low | High |
Popularity with recruiters | High in India | Medium in India, high in US based MNC's |
No: hours required | approx 150 - 300 hours | 40-70 hours |
Certification | PDF download after clearing the exam | Digital Badge of AICPA and CIMA |
Mode of Exam | Computer based and proctored | Online self assessed, with multiple retakes within 1 year |
Syllabus | 90% of IFRS topics | 90% of IFRS topics |
We train students for ACCA Diploma in IFRS. The overall pass rates for the exams are now in the range of 35% to 45%. The primary reasons for low pass rates are
We have observed the passing rates of students over the past five years, and some of the traits of students with over 80 to 90% pass rates are as follows
Both ACCA and AICPA are popular and globally recognised. Both give you a certificate on clearing, and practically there's no difference in recruiter perception.
ACCA Diploma has been more popular because of its pricing. AICPA's course retails at 1100 USD, and therefore there were very few students opting for the same.
With its India pricing at 300 USD, AICPA IFRS certification is now at par with ACCA. So from a pricing perspective, both are equal.
The difference primarily now comes in carving out time to study. ACCA Diploma comes with a rider that you have a base on Accounting standards and can devote a minimum of 100-250 hours for the exams.
AICPA IFRS is simple, easy to understand and can be taken at any level of your life. Some students complete their course in 1 month, and some take 3-6 months. Certification is guaranteed.
We share a table below to help you make an easy decision.
ACCA IFRS | AICPA IFRS | |
Globally recognised | Yes | Yes |
Recruiter perception | High |
High |
CA with less than 5 years of work exp | Strongly Recommends |
Dont recommend |
CA between 5-12 years of work | Recommend if you can devote time |
Recommends |
CA with over 12 years | Dont Recommend |
Recommends |
Non CA with less than 3 years of work exp | Cant take this exam |
Recommends |
Non CA with over 5 to 12 years of exp in Accounting standards | Recommends |
Recommends |
Non CA looking to switch into Financial Reporting role | Don't Recommend |
Strongly Recommends |
Note: Eduyush offers training for both ACCA and AICPA and provides a bundled combo where you save almost 15% on fees when taken together.
Suppose you would like to get a consultation on which is better for you. Pls WhatsApp us at +91 9643308079 or write to us at ifrs@eduyush.com.
]]>Why the change has been done
The IFRS Interpretations Committee informed the Board of difficulties entities faced in distinguishing accounting policies and accounting estimates. The distinction is important as changes in accounting policies must be applied retrospectively whereas changes in accounting estimates are required to be accounted for prospectively.
Distinguishing between a change in accounting policy and a change in accounting estimate is, in some cases, quite challenging. To provide additional guidance, the amended standard clarifies that the effects on an accounting estimate of a change in an input or a change in a measurement technique are changes in accounting estimates if they do not result from the correction of prior period errors.
The Board noted that the previous definition of a change in accounting estimate specified that changes in accounting estimates may result from new information or new developments. Therefore, such changes are not corrections of errors. The Board concluded that this aspect of the definition is helpful and should be retained. For example, if the applicable standard permits a change between two equally acceptable measurement techniques, that change may result from new information or new developments and is not necessarily the correction of an error.
Amendments
The Board amends IAS 8 to define accounting estimates as “monetary amounts in financial statements that are subject to measurement uncertainty”. Accounting policies may require items in financial statements to be measured in a way that involves measurement uncertainty—that is, the accounting policy may require such items to be measured at monetary amounts that cannot be observed directly and must instead be estimated. In such a case, an entity develops an accounting estimate to achieve the objective set out by the accounting policy. Developing accounting estimates involves the use of judgements or assumptions based on the latest available, reliable information.
The definition of a change in accounting estimates was deleted. However, the Board retained the concept of changes in accounting estimates in the Standard with the following clarifications:
• A change in accounting estimate that results from new information or new developments is not the correction of an error
• The effects of a change in an input or a measurement technique used to develop an accounting estimate are changes in accounting estimates if they do not result from the correction of prior period errors.
Observation
The revised Standard lists the following items as examples of accounting estimates:
A loss allowance for expected credit losses (IFRS 9 Financial Instruments)
The net realisable value of an item of inventory (IAS 2 Inventories)
The fair value of an asset or liability (IFRS 13 Fair Value Measurement)
The depreciation expense for an item of property, plant and equipment (IAS 16 Property, Plant and Equipment)
A provision for warranty obligations (IAS 37 Provisions, Contingent Liabilities and Contingent Assets)
In developing an accounting estimate, an entity uses estimation techniques (for example to estimate the loss allowance for expected credit losses) and/or valuation techniques (for example to measure the fair value of an asset or liability).
Effective date and transitional provisions
The amendments are effective for annual periods beginning on or after 1 January 2023 to changes in accounting policies and changes in accounting estimates that occur on or after the beginning of that period. Earlier application is permitted.
Eduyush is very proud of its students who have cleared the second remote and CBE exams with aawesome scores. Despite numerous technical glitches, 72% of our students cleared the examination vis-à-vis 35% global passing percentage of ACCA.
Eduyush’s students passing ratio also increased from 66% to 72% and the highest scorer is Mankirat Kaur with 85%. More than 45% of the students who passed scored 65% and above.
Let’s see what our students have to say about their experiences and challenges
Pass the ACCA Diploma in IFRS exams with us in your first go
Mankirat Kaur, the highest scorer from Jun 2021 batch started her preparation in April with 2 hrs during weekdays and 3—4 hrs on weekends. She made her examination strategy in a way that she could revise the entire syllabus 2 times before examination and practiced all questions of the revision kit; she also finished the last 10 years’ examination papers and that too twice.
Work commitment, examination preparation, and remote-based examination were enough to make her nervous. A good amount of practice with time management is essential and she recommends the same.
She says - Eduyush team was extremely helpful and quickly responded to her questions.
Poorva took 3 months for her preparation; she initially started with 1-2 hours every day which was later increased to 3 hours. For her, Eduyush Team was a great help, she made sure to revise the subject before the weekend session. She did not miss any online classes and noted key points and tips shared by the Faculty. BPP books BPP passcards, Eduyush workbooks, curated videos, quizzes, and past 5 years’ question papers were helpful in clarifying her doubts and gave her a better understanding of the concepts. She did a thorough practice of descriptive questions as well as consolidation questions on the CBE platform/ BPP software.
CBE platform was the major challenge for her since the application has a lot of restrictions and limitations. Instructions should be read very carefully before sitting for the examination.
She believes that one should be adaptive enough to learn, unlearn and relearn. Being CA / Non-CA won’t make much difference.
She highly recommends Eduyush as a learning partner because of the resources, faculty, and students' support. A weekend session is the best time to get the doubts cleared by the faculty. Mock tests and quizzes further helped in identifying the weak areas.
She also suggests a strong wifi connection and UPS facility before the examination.
Keshav, a qualified Chartered Accountant and working professional has his own experience to share with us. For him, the weekend was the best time to cover up the time; 4 to 5 hours was a must for him since he used to get merely 2 hours during weekdays.
For him, Eduyush was ‘The Golden Ticket’; he followed the chapter schedule and reviewed the chapter before every weekend session so that all his doubts are clear. Like his morning tea, practicing 1 consolidation sum in CBE software and revision of other chapters based on Eduyush schedule was his everyday routine. Our faculty’s methodology helped him a lot in clarifying the doubts.
CBE was more stressful than the exam itself, everyday practice in BPP software for more than a month gave him the confidence and knowledge of all the in and outs of the application. He also wrote 2 to 3 mock tests in the BPP software considering the time limitations.
Being a CA was an advantage for him, as he was already familiar with a couple of concepts and correlated them well with DipIFRS.
He recommends
Vandana, a non-CA and working professional was determined to clear the examination even after a long academic gap. She says – ‘Success Depends on Your Backbone Not Your Wishbone’.
She was very consistent in her preparation; reading and revising the concepts before the weekend session was the key success factor for her. She neither missed any class nor weekend quizzes. Initially, IFRS 9 (Financial Instrument), IAS 12 (Income tax) and IFRS 15 (Revenue) were concerned areas for her which later got resolved.
CBE was not a major issue for her, infact, this was better than the classroom based examination; regular practice is needed so that you can complete your examination in 3.15 hours.
She says - A tutor handhold you throughout the process from schedule preparation to the revision of concepts; mock tests for testing your concepts and capacity and that’s where Eduyush supported her.
She recommends some key points like –
For our students, the Recipe for Success turns out to be Consistency, Dedication and Determination. Many thanks to Mankirat, Poorva, Kesav, Vandana for sharing their wonderful journey with us.
]]>We are sharing feedback stories from 3 of our students as to how they went through their journey. The feedback has been replicated and is intended to help and bring belief to other students who are writing the DIPIFR (Diploma in IFRS) exams that they too can clear .
At Eduyush we had some outstanding results, over 20% of our students scored over 70, here's what some of the students said
Also read the reviews left by our students in the Sep 2020 Exams
Firstly, A huge thank you to the entire Eduyush team. It’s been nothing short of a roller coaster ride, switching from paper based exams to CBE to remote exams. And the entire team wholeheartedly helped at every stage.
Experience:
CBE exams require practice. One may be extremely well conceptually but that has to executed well in the CBE exams. The CBE dashboard will consist of:
1. Questions in PDF
2. Text Editor ( Similar to MS word)
3. Spreadsheet ( Similar to a very basic version of Excel)
These options are provided based upon the questions asked. So Q1 on consolidation has only the spreadsheet option. From the balance, spreadsheet would be available only if there are calculations involved, say for questions on IFRS 2.
Each sub-part of a question is a separate PDF. Further, toggling through the keyboard is not possible. Switching among PDFs is possible only through mouse clicks. This means you have to balance your screen space in such a way that you are able to read and answer the questions with minimum clicks. Try and use the largest monitor you can think of!
The spreadsheet software is very basic, it won’t allow you to:
1. Repeat formulae into the cell below using Ctrl+D
2. Insert rows Or columns using Ctrl+space or rows using shift+space
3. Show formulae using F2.
4. Use Autosum
Formulae can only start with with =, not with @ or +
In a nutshell, if you well-versed in Excel, make a conscious effort to remind yourself this isn’t Excel. Else, you would end up losing precious time.
Time management is of utmost importance. During the mocks, a consolidation question I solved on Excel 2010 in 30 minutes took 1:10 hrs in the CBE software.
The total time available to attempt the paper is 3 hours 15 minutes. I would recommend to solve the consolidation question at the end, as this one is usually tricky. Even you are not able to complete the consolidation, points would still be awarded for steps.
In addition to whichever books you refer, Do the Eduyush Quizzes and Google class material very well. They are the most well drafted questions and the most well curated content I've come across in my study journey.
That’s all from my December 2020 DipIFR CBE experience. Best wishes to you!
First of all, I would like to thank Eduyush and their team for constant support and learning updates since the time of enrolment until the exam date!
1) Ability to navigate multiple windows at the same time
2) Unfamiliarity with the Excel functions on the CBE format
3) Time management, lots of students didn't finish the exam on time
ACCA has put out some good videos and resources which students can access to familiarise themselves with the CBE format.
Get Familiar
Start by getting familiar with the CBE interface for the Strategic Professional (SP) exams, you can do this by accessing the resources linked below. click here
CBE guidance document
Read through the CBE Guidance document. This provides a comprehensive introduction to the SP CBE functionality. This will guide you as you start to explore specimens and other practice content on the practice platform. Click here to download the document
CBE Preparation videos
Watch the bitesize videos introducing what to consider before the exam day, exam strategy and how to manage the workspace effectively, including tips and techniques for completing answers. Click here to watch a video
Managing the SP CBE workspace
Watch the short video on how to manage the SP CBE workplace effectively. Acquire tips and tricks that can make it more efficient for you when attempting questions in the real exam.
Practice Hard
Make it a habit to practice exam questions using the practice specimen. You’ll be able to view up to date specimens and past exam questions provided by ACCA. Practice at least 7-10 times
Let’s hear it from the students who have cleared the September 2020 examination.
Veronica cleared the Sep 2020 examination. She has shared her 6 years’ DIPIFR journey along with some important tips.
She says - I enrolled in 2014, but was not consistent with the decision to pursue this certification. Therefore, my BPP books became obsolete while registering 3 times for the exam, without showing up.
I restarted it in 2018, using the old books (2014-2015), which was a bad idea and I don't recommend. I scored 29 marks in December and was happy about knowing how the exam looked like. I studied mainly from the Text Book.
I continued in June 2019, studying mainly from the Revision Kit (a newer version 2018-2019). I scored 41 marks and got some confidence.
In December 2019, I took 2 weeks off, and dedicated my days in practicing previous year question papers. The exam structure slightly changed and I scored 33 marks which was a Big disappointment.
That did not stop me from trying again in June 2020. I enrolled myself for upcoming examination in June. During this time, I discovered the eduyush whatsapp study group and I joined it as soon as I got to know. Purchased the Eduyush FlexiQuiz, the BPP Books, and continued studying.
For me, Covid was Blessing in Disguise, June examination got postponed to September, and I got some additional time, I focused on my last exams from MBA. I studied without any break from mid June to early September. I mainly read the Study Text, at home, on the beach, after lunch during vacation, when my friends used to have a little nap.
Consistency is my Mantra and regular studies helped me a lot. I got my first prize from the eduyush weekly quiz on the beach, reading the little fonts on my phone. That provided a boost to my morale. I love Provisions (legal and/ or contingent obligations).
I arrived at the examination venue 1 hour in advance, as recommended, and re-read the BPP Passcard.
On top of that, I read as much as possible about the examiners reports, what they expect to read in our papers for each question / answer. How the question is structured, what knowledge do they expect to discover in the paper.
Finally, I got the result and couldn’t be more proud to see 51 points on the dashboard.
I learnt that explanation is very important; you need to explain your calculation in detail.
Be confident and focus during the exam. All the information provided in the question paper is supposed to be used.
Ahmed is very systematic and according to him a study plan is very important and same should be followed without fail.
He has shared some tips with us –
1). Don't fear if your English language is not good , it's not an obstacle.
2). Do not memorize, try to understand all the IFRS standards
3). Practice, practice and practice
4). Test yourself before appearing for the examination
Arman struggled between his office work and examination preparation. But who can stop you if you decide to do it. Arman dedicated his after office hours to DipIFRS and utilized the pandemic lockdown period to study.
He studied 4 hours every day for 2.5 months for clearing the examination. First month, he understood the examination format, pattern of question level, syllabus and then studied one by one through online classes and materials.
Next one and a half month, he practiced the past examination question papers of ten years which helped him to have a practical understanding of the standards.
And spent some time for conceptual understanding of theory standards as well which carries about 25 to 35 Marks.
Tips -
1). Go through the entire syllabus, format and pattern of the question paper.
2). Understand the concept of standard then go to the question asked in past exams.
3). Practice, practice and practice. Note the tricky concept while you are facing tough/important while solving the question.
4). Don’t skip the small standard. Understanding the concept of theory type standards is very important to crack this exam.
5). Attempting full 100 marks is extremely important.
6). Test Yourself before the examination. Attempt the complete question paper in 3 hr 15 minutes.
We say thank you to Veronica, Arman and Ahmed for sharing their experience with fellow students. Wishing everyone All the Best for the examination.
]]>Here are the rules and regulations for students who are undertaking the ACCA remote proctoring exams
Facial comparison technology may be used for the purpose of verifying your identity during the testing process by comparing your facial image to that presented on your identification and to facial images captured during the testing. If you do not agree to the use of facial comparison technology during your testing session, do not accept its use.
Before the Examination
Proctored Exam
The exam can be attempted at home or in your office. Wherever you choose to sit the exam, you should be in a walled room, with a closed door and without distractions.
Before the examination start, you must ensure you follow the instructions below:
• Ensure you are not disturbed by anyone.
What do you need for entry to the examination?
• An official means of photographic identification, such as your valid passport, driving license, national identity card or biometric residence permit. If you are unable to prove your identity your examination attempt may not be marked.What items are permitted at your desk?
• A small bottle of water all labels removed. No other drinks or food are permitted.
web: www.accaglobal.com/gb/en/help.html
email: students@accaglobal.com
tel: +44 (0)141 582 2000
During the examination
• No other person is permitted to enter the room.After the examination
For remote proctored exams only: Your computer-based exam answers will remain the property of ACCA and will not be returned to you
What else do you need to know?
• Your examination entry fees are not refundable or transferable.Results release
Examination results will be available on myACCA and by email and text message. Please check www.accaglobal.com/examresults for details of when these will be published.
Notes
If an exam attempt is suspended, cancelled or otherwise nullified by the examining board (at any stage, whether before or after the examination sitting itself) ACCA will waive the fee (or part thereof) for the next attempt at the exam(s) unless such suspension, cancellation or otherwise is caused by an epidemic, pandemic or other event against which ACCA is unable to obtain insurance on reasonable commercial terms. Due to the nature and complexity of operating professional exams, ACCA reserves the right not to reschedule any exam or offer any compensation other than as specified above.
For computer-based exams only: All computer-based exams will include an additional 10 minutes, which commences from the start time stated above, for the candidate to read the exam instructions and summary screens. Once you have completed reading the information and instructions, your exam duration time will start.
Before entering for a remote session CBE it is important that you have performed and passed the system test on the device you'll use and in the location where you will take the exam. This will ensure that your computer/laptop and your desk environment meet the minimum requirements and exam regulations to run the exam successfully. If you are unable to successfully pass the system test then you should not enter for this exam.
Additionally, you'll need to have access to a private and quiet location and have your desk setup which meets the exam regulations
Click here to perform the System Test
Click here to check System Requirements
Taking your ACCA exams is part of your journey towards becoming an ACCA professional accountant and we therefore expect you to act in a professional manner when taking your exams.
The following regulations apply to students sitting paper based, computer-based, and remotely proctored exams, as well as those taking internally-assessed ACCA courses.
1. You are required to adhere at all times to the examination regulations and guidelines below. If you are found to be in breach of any of these regulations or fail to adhere to the guidelines below, you may become liable to disciplinary action, pursuant to Bye-law 8, which could result in your removal from the student register.
2. You are required to comply in all respects with any instructions issued by the exam supervisor/s, invigilator/s, proctor/s, and any ACCA personnel before, during and at the conclusion of an exam. Failure to comply with these instructions may result in the termination of your examination and potential disciplinary procedures being invoked.
3. You may not attempt to deceive the exam supervisor/s, invigilator/s, proctor/s and any ACCA personnel by giving false or misleading information.
4. You are not permitted during the exam to possess, use or attempt to use any books, notes or other materials except those expressly permitted in the guidelines below. These are known as 'unauthorised materials'.
5. You are not allowed to possess, use, or intend/attempt to use, any unauthorised materials while the exam is in progress (whether at your desk or otherwise).
6. You are not permitted to use a dictionary or an electronic translator of any kind or have on or at your desk a calculator (if applicable) which can store or display text. You are also not permitted to use mobile phones, electronic communication device, camera, or any item with smart technology functionality in your examination room. These are known as "unauthorised items" and are taken into the examination room at the candidates own risk. ACCA accepts no responsibility for their loss or damage, if applicable. Such items must not be worn, or be placed on your desk, in pockets of clothing, in your bag or personal belongings, or be kept anywhere else on or about your person. If you bring a mobile phone, electronic communication device or camera, or any item with smart technology functionality and/or capable of taking photographic images with you to your examination, you must declare this to the examination personnel prior to the start of the examination. You must switch the phone or electronic communication device or camera off and disable any alarms or notifications. You must then follow the instructions given to you by the examination personnel.
7.(a) If you breach exam regulation 4 and/or 5 and the 'unauthorised materials' are relevant to the syllabus being examined, it will be assumed that you intended to use them to gain an unfair advantage in the exam. In any subsequent disciplinary proceedings, you will have to prove that you did not intend to use the unauthorised materials to gain an unfair advantage in the exam.
7.(b) if you breach exam regulation 6, it will be assumed that you intended to use the 'unauthorised items' to gain an unfair advantage in the exam. In any subsequent disciplinary proceedings, you will have to prove that you did not intend to use the 'unauthorised items' to gain an unfair advantage in the exam.
8. You (irrespective of if you are a licensed weapon holder) are not allowed to attend your exam with a weapon. If you are found to have a weapon in your possession you will be excluded from the exam without any reimbursement.
9. You are required to comply with the ruling of supervisor/s, invigilator/s, proctor/s and any ACCA personnel. They are obliged to report any cases of irregularity or improper conduct to ACCA. They are also empowered to discontinue your exam if you are suspected of misconduct and to exclude you from the exam room.
9 (a) If you breach exam regulation 9 and fail to disclose any 'unauthorised materials' or 'unauthorised items' the supervisor/s, invigilator/s, proctor/s reasonably suspects you to have in your possession, it will be assumed the 'unauthorised materials' are relevant to the syllabus being examined and that you intended to use the 'unauthorised materials' and/or 'unauthorised items' to gain an unfair advantage.
10. You may not engage in any improper conduct designed to assist you in your exam attempt or provide any improper assistance to any other exam entrant in their exam attempt, including taking photos of exam questions during the course of the exam, copying, sharing and or distributing in any form images of exam questions and or selling or advertising for sale exam questions or images thereof during or subsequent to the exam.
11. If you are sitting paper-based examinations, you are not permitted to remove either your candidate answer booklet(s) or your question paper from the exam room. All candidate answer booklets remain the property of ACCA.
12. If you are taking a computer- based exam you are not permitted to remove any working papers issued to you. All exam working papers remain the property of ACCA.
13. If you are taking a remote-proctored exam you must destroy any working paper (if applicable) as instructed by your proctor(s).
14. You must not copy, photograph or reproduce in any manner exam questions. You are also strictly prohibited from distributing or seeking to exploit for commercial gain unauthorised copies of exam questions.
15. If you attempt to gain an unfair advantage in the exam (whether by breaching an exam regulation or otherwise) you are likely to be removed from ACCA's student register following disciplinary proceedings.
16. Candidates must not talk to, or attempt to communicate with, people other than the exam supervisor/s, invigilator/s or proctor/s for the duration of the exam.
17. You must not attempt to access and/or obtain your examination results prior to ACCA's official published results release date.
18. For remotely-proctored computer based exams; student behaviours may be reported to ACCA, exam session terminated or refusal of admittance to the exam; all of which could result in disciplinary action being taken if the student exhibits any behaviour which the proctor(s) deems vulgar, offensive, pornographic, obscene, abusive, criminal, or otherwise inappropriate.
As all ACCA exams are high stakes, ACCA chooses proctoring models which include the use of AI and human invigilation. Live invigilators monitor students taking exams.
The student first logs into the exam and performs several checks, such as demonstrating the room is empty and there are no materials that could facilitate cheating. The exam software locks the student’s computer to ensure they cannot access any material during the exam and the student, and their exam screen are then monitored throughout the exam. The students must keep their webcam and microphone on for the duration.
All exams are CBE now, you can read about the CBE more on our blog here
CBE Exams - view the following links to familiarise yourself with CBE exams
To read more about what the CBE exams are click here
To read the FAQ's of CBE, click here
Here are some FAQ;'s which will be helpful for your DIPIFR CBE practice
The entire script will be marked by the same person. The examiner exercises quality control over the whole marking process and has the power to amend marks should he/she see fit.
Either the number or name would be sufficient although both would be better – we would want the candidate to know there is a specific IFRS standard which they are applying to answer the question but how they reference it in their answer is less important.
No
Yes, this will be provided
Yes, each workstation should have a mouse/keyboard etc. set up.
The CBE functionality is set by PearsonVue who provide the system. The functionality cannot be changed and this is why we would recommend students familiarise themselves with the CBE specimen for practice. The spreadsheet, while similar in look to Excel, is not Microsoft Excel and as such does not have the same functionality.
Students should present the answers in the order they are asked but if they want to start with Q3 (for instance) just make sure they clearly identify it as Q3. If a question has sub-requirements eg Q3 (a) and Q3 (b), annotate it accordingly. Or with Q4 the question is usually broken down into a number of specific queries with their own title – use the heading title as a paragraph heading. There is no particular order for setting out workings and narrative but we would suggest labelling the workings (w1, w2 etc) and then cross referencing to any narrative. This will be the case if using the spreadsheet response option for workings and the word response option for the explanation.
The published answers are in a spreadsheet option already which could be used as an example of the type of workings expected– if it is a simple calculation they can use formulas in cells or copy from a working (clearly referenced). The parent and subsidiary accounts will be presented as a spreadsheet so a good technique is to copy/paste the entire accounts from the exhibit in the question into the spreadsheet response area, close the question exhibit and then use the spreadsheet functionality to add together the parent and subsidiary and then have a column for adjustments before summing each line to get the final figures – extended trail balance approach. We would expect DipIFR students to be used to using spreadsheets for consolidation/financial statement preparation in their work. This is something they should practice using past papers
The CBE exam will provide a spreadsheet for questions 2-4 if there are significant amount of calculations required – this will be a judgement made by the examining team on a question by question basis. It is unlikely Q4 would have a spreadsheet however as it is usually entirely narrative. If no spreadsheet is provided it is because the calculations can just as easily be typed in the same way as a student would have approached the exam when it was paper based – they are important but not overly complex. In this case the calculations form part of the narrative explanation and should be integrated as such. However if it is something like a lease calculation we may feel a spreadsheet would be appropriate – the student would ensure they clearly cross reference any workings back into the word processing response area where they would provide their narrative explanations. Please note a student can choose whether or not to use a spreadsheet if it is provided, but is not required to.
Yes, these will continue to be published on the ACCA Global website
]]>Informal studies show that less than one-third of today’s college graduates have taken a computer-based examination. People are often fearful of situations in which they have no experience. We outline some of the key points for the CBE exams which will help you navigate and help ease your anxieties.
The computer-based exam (CBE) is given at secure test administration sites run by Pearson Vue. Pearson VUE is a well-established exam vendor that now delivers CBE for ACCA, CIMA, and other accounting bodies. All the ACCA locations now offer the CBE. Click here for a list of some of the busy CBE centers.
Pros
Cons:
If you ever taken a car driving license test, anyone would say try out the route at least 7-8 times before you present yourself in front of the authority. The same goes for the CBE exams. Practice, practice is the only key. You will need to train your mind to translate your IFRS neurons & memories into your fingers, and the keyboard. Plus the entirely new experience of training your eyes straight on a screen rather than looking down on a piece of paper will be new. Here are some tips, which can help
At eduyush.com, we do share out a mock test on our LMS on a weekly basis, where students can submit their answers online. This LMS comes complimentary if you take the ACCA DIPIFR registration with us. We believe, practicing at least 10-15 times will get your neurons connected and ready for battle.
Are you worried you will experience computer problems? Stop worrying now. The procedures have been in place long enough to prove that the system works. Chances are highly unlikely that the computer will give you problems. You could, however, provoke problems if you are not well versed in the exam navigational processes. It is essential that you practice the tips we laid out above.
You must work with the system. The platforms are in place, the center’s staff is well trained, and you are not the first person to take the CBE exam. All of the computer features should work well. In the very unlikely situation that they do not, the test center staff will give you guidance about how and where you report the problems. Some of the very best technical personnel in the world have prepared this exam.
Remain focused on your job: to prepare by reviewing the technical content. The computer format is the least of your worries. Get back to the business of studying. You must be prepared to answer the technical questions. You are not required to fix computer glitches.
Candidates report that the Pearson test center personnel are very polite and efficient. To date, no major problems have been reported. The centers are quiet and the computers work as promised. Don’t expect the exam proctors to make exceptions for you. If you forget your exam docket or your required forms of identification, you will be barred from sitting the exam. Leave prohibited items, such as watches, food, beverages, plastic bags, and writing instruments, at home. You will be given everything you need to complete the exam. If noise is a problem, you can obtain a special headset at the test center. You will not be permitted to bring your own earplugs.
Examples of behavior that will not be tolerated during the exam are
Other things to note at a CBE
Most candidates who have written a CBE rate their experience highly including the COVID exams in July. You will participate in one of the most professional examination processes in the world. This won’t be like the typical reality television show. There is no requirement to eat live worms or to walk on hot coals. The experience will be real, and you will survive when you plan ahead, practice the sample exams, and follow the rules listed in your exam dockets. Cheers and best of luck.
Eduyush.com has all the tools to get you started, LMS, BPP books, and ACCA registration. Start your DIPIFR journey with us, we will make it enjoyable.
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Here are some FAQ’s for the September 2020 DIPIFR exams
Which countries have been affected?
The DipIFR Exams have been canceled in the following countries, Armenia, Australia, Brazil, Ethiopia, India, Ghana, Kuwait, Pakistan, South Africa, USA, and Uganda.
Why have they been canceled?
Due to the COVID situation in these countries, ACCA is not going ahead with pen and paper-based exams. It needs to be noted that DIPIFR exams will be Computer Based (CBE) from Dec 20 only. Hence, there is no option to remote proctor the exams for Sep 2020.
What will be the changes in format for CBE and syllabus?
The format of the DIPIFR exam will remain the same. Instead of pen and paper, your tools will be MS word and MS excel. Students can practice the exams on ACCA’s specimen CBE link here
Syllabus – The Dec 2020 exams will be on the new syllabus, Read about it here.
When will the exams be held and is there a change in the exam booking process?
The DIPIFR exam for Dec 2020 will be held on December 11. Students will be directed to the Pearson VUE exam booking window to select their exams and center. Click here to see the step by step process
Where will the exams be held for December 2020?
As of now, the ACCA exams will be at a center. Click here to access the center list by city. If the COVID situation continues, we expect the exams to be remote proctored instead of the center. At the moment, students need to book their exams at the Center.
I have paid my fees, can I utilize it for the December 2020 exam?
Yes, the fees which you paid can be utilized for the December 2020 exam. You should see a credit of the fees paid, post your September 2020 exam cancellation
Where can I get the latest study materials for the Dec 2020 syllabus?
Students who are registered with us can find the Google classroom updated with the latest syllabus. We are also a BPP authorized tuitions provider, students can take the ebook from our site here. The hard copies of the book are not available, as BPP has not printed the book as yet. Use code BPPLAUNCH at checkout to get an extra 5% off till July 31, 2020
Where can we practice CBE?
ACCA gives out one mock test on their site, which was listed above. BPP does offer the same in their online training course but they don't have one for the DIPIFR. Students can take the SBR (Strategic Business Reporting) course to learn IFRS and practice the CBE
If you have any further questions on the same, please email them to ifrs@eduyush.com
]]>Passing the DIPIFR examination is challenging. Every candidate hopes to take the exam only once. What can you do to give yourself the best chance at passing each section on your first attempt? Sometimes it’s the simple things we do in life that help us achieve our goals more effectively and efficiently.
Are you hoping to find a time in your life when everything will be operating smoothly? Think again. A better way to phrase the question is: Are you ready to make the commitment to clear the exam? If you are unsure, read on about how soon after completing your CA you should take the DIPIFR exam. Maybe you will see how important it is to start the process early.
Our words of advice remain the same from year to year: take the DIPIFR exam as soon after you complete your CA/college or when you are doing your CA final”, It’s a known fact that it is difficult to retain technical material. The old saying goes: “If you don’t use it, you lose it.” This couldn’t be truer regarding accounting. The sooner you study and take the exam, the better your chances of passing it. Does this mean you should give up the idea of passing the exam if you graduated several years ago? No, definitely not, candidates who have work experience and have reached a certain level of maturity have a good chance of passing. They may, however, need to budget additional time to study and practice the concepts learned.
If you already meet the requirements to sit for the DIPIFR exam, then get going! There is no time to waste. Begin today. There are four factors to think about before choosing the date you will start the exam:
Obviously, you must be able to answer question 1 positively. You will not be permitted to sit for the exam until you meet the requirements.
Question 2 is not meant to discourage people who have completed their CA or college work some time ago. However, we can’t overlook the obvious fact: The exam tests an accountant’s concepts, competencies and abiltity to write a 3 hour exam. Accounting rules change frequently. As a recent CA graduate, you are accustomed to taking exams; the material is fresher in your mind, and your workload is not yet as demanding as it will be when you advance within the company. The best time to take the exam is as soon as you meet the requirements to sit, which is usually upon your CA final or just after.
What about those of you who completed your CA or college several years ago? Don’t give up! You, too, can pass. There is something to be said for work experience, especially in the area of accounting. Work experience helps you to quickly analyze situations, write better, and read with greater understanding. At work, you may utilize some of the practical experiences you gain on accounting standards, and your time to retain technical material may be less.
Questions 3 and 4 are important to your decision. Once you register, you won't just automatically clear; it takes hard work. Are you concerned that you will never be able to make such a commitment? Don’t be! You must not lose sight of the fact that people do pass this exam. Read our blog to understand the time required to prepare for the exam.
Are you ready? Good. Now let’s get you registered for the DIPIFR exam. We will manage all your paper work and admin issues with ACCA till the time you clear the exam. We just want you to focus and invest your time and commitment.
]]>Recently, we've seen countless examples of new technology having a massive impact on our lives. More than ever, finance executives need to strengthen their understanding of and perspective on technology. They need to survey new innovations, forecast their pace of change, and gauge the implications.
They also need to keep asking, "What if?" And adopt new tools and strategies as industry shifts, not after its shift. Simply, people need to develop a healthy obsession with technology.
And as we begin to embrace disruptive change in one technology, far more exciting possibilities unfold when we explore how multiple areas are converging. Technology is and will increasingly be a driver of disruption, destabilizing entrenched business in entire industries, while also creating new markets and value not yet imagined.
Leading like a finance function requires a vigilant understanding of potential sources of disruption. It requires that you understand the potential for how your company's offering might become obsolete, and inspires you to think about entirely new opportunities. While the answers may not always be perfectly clear, what's most important is relentlessly seeking them.
A CFO is a decision-maker and business enabler, unless he and his team don’t understand the language of this technology, they will no longer add value to an organization. Digital skills like MS excel or Oracle and ERP knowledge will soon start looking like old age Nokia or Blackberry phones. Its, therefore, imperative that the finance function upgrades to the new age technologies to keep their skill sets secure.
The ACCA Certificate in Digital Innovation for Finance is aimed at accountancy, finance, business, and advisory professionals who wish to develop their knowledge, skills, and awareness of innovations in digital technology and its impact on the finance profession. The certified members will be competent in Data, Digital and Technology, equipped to hit the ground running with the skills your organization needs for both now and in the future.
The certificate is divided into 20 units, each lasting around one hour. The certificate structure includes learning materials, sharing experiences, and reflection through notes:
Broad topics cover bitcoin blockchain, AI, Machine learning, Analytics, Robotics, and the role of digital transformation by finance in an organization.
Users get one year to complete this course, post the completion, they will get the CERTDIF.
Read the syllabus of this new certification here.
The CertDIF is designed to help you:
There are no formal educational requirements to begin the certificate.
If you already have a professional accountancy qualification, this certificate can help you top up existing competencies with specific knowledge and skills around digital technology, future disruptors and digital transformation. It's also be a valuable source of CPD.
The CFO and the finance unit are critical to the success of a digital business transformation. A successful transformation isn’t just about introducing digital technologies into the enterprise. Many of these technologies can easily be copied, and they don’t provide a competitive advantage. Instead, the success of the transformation rests on the enterprise’s ability to integrate, creating a multi-product, multichannel experience or a single view of the customer, or services that couple products with data.
The CFO and the finance unit are well-positioned to lead the integration efforts, as not only do they understand the law, accounting, and internal controls, but they have a birds-eye of the key business drivers and can aid and add a lot of value to the business.
Specifically, they help create a vision on how to use digital to transform the enterprise via both efficiencies and growth. The difference between effective and ineffective CFOs and finance units is a big potential leverage point for the enterprise. It is worth investing in both.
Read the global reviews coming on CERTDIF here
Students can register for the course either from ACCA’s site or avail our ervices to register you at discounted prices on eduyush.com. To know more browse the product section or contact us via email at info@eduyush.com or call us at +919643308079
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