DIPIFR FAQS

How do I find learning materials to support my studies towards the DipIFR

qualification?
In accordance with IFRS9 Financial instruments, an entity may elect to recognise
subsequent re-measurement of investments in equity instruments within other
comprehensive income. Is this within the syllabus?
My revision strategy is to learn certain topics and answer questions only on
those. Is this the best way to revise?
Are recently revised versions of (IFRS) International Financial Reporting
Standards examinable?
Does the examiner prefer full or partial measurement of goodwill?
Could you test the reconciliation of group-retained earnings?
Will discount factors be given if candidates are expected to determine present
values?
What if candidates are taught different methods of preparing consolidated
accounts, for example, journal entries or ledger accounts?
How should candidates better prepare for the Diploma in International Financial
Reporting Standards exam?
If partial workings in the consolidated financial statements arent referenced
back to the financial statements, would they be marked?
The topic of reporting SMEs is included in the syllabus (part C, section 7
"Reporting requirements of small and medium sized entities"), but SME standard
is not included in the list of examinable documents. Is this a mistake?
HOW DO I FIND LEARNING MATERIALS TO SUPPORT MY STUDIES TOWARDS THE
DIPIFR QUALIFICATION?

ACCA has an Approved Content Provider. This is the way in which ACCA quality
assures a range of content from different providers designed to support study for
the ACCA qualifications.

These approved materials are subject to review by ACCA's examining team.

The approved providers for Dip IFR are Becker Professional Education and BPP
Learning Media.

For information about ACCA's Approved Content Prover programme and for
access to ACCA's Content Provider Directory, please go to the Content Provider
Directory where you can find in the Related Links section on this page.

IN ACCORDANCE WITH IFRS9 FINANCIAL INSTRUMENTS, AN ENTITY MAY ELECT

TO RECOGNISE SUBSEQUENT RE-MEASUREMENT OF INVESTMENTS IN EQUITY
INSTRUMENTS WITHIN OTHER COMPREHENSIVE INCOME. IS THIS WITHIN THE
SYLLABUS?

Yes, this is within the syllabus and it is therefore examinable. However, unless
the question specifically mentions that the entity has made this election,
candidates should assume the default position where any changes in fair value
are regosnised in profit or loss.

MY REVISION STRATEGY IS TO LEARN CERTAIN TOPICS AND ANSWER QUESTIONS

ONLY ON THOSE. IS THIS THE BEST WAY TO REVISE?

A candidate should have an understanding of every element of the syllabus.

ARE RECENTLY REVISED VERSIONS OF (IFRS) INTERNATIONAL FINANCIAL

REPORTING STANDARDS EXAMINABLE?

The current version of the IFRS is examinable if it has been issued before the cutoff date of 31 August. You should refer to the published list of examinable
documents for the exam session that is applicable to you. For exams in
Decemebr 2014 and June 2015, the versions of standards that will be examined
are those that were issued by 1 September 2013.

DOES THE EXAMINER PREFER FULL OR PARTIAL MEASUREMENT OF GOODWILL?

This will depend on the question; both the full measurement (which includes noncontrolling interests in the goodwill calculation) and the partial measurement
(which excludes non-controlling interests) of goodwill could be examinable.

COULD YOU TEST THE RECONCILIATION OF GROUP-RETAINED EARNINGS?

Yes, but it hasnt been tested very often in the past and candidates dont answer
this type of question particularly well. Despite this, the preparation of a
consolidated statement of changes in equity does form part of section D of the
syllabus so candidates should know how to reconcile the opening and closing
balances of group retained earnings.

WILL DISCOUNT FACTORS BE GIVEN IF CANDIDATES ARE EXPECTED TO

DETERMINE PRESENT VALUES?

Yes, the relevant discount factors will be given.

WHAT IF CANDIDATES ARE TAUGHT DIFFERENT METHODS OF PREPARING

CONSOLIDATED ACCOUNTS, FOR EXAMPLE, JOURNAL ENTRIES OR LEDGER
ACCOUNTS?

Appropriate credit will be given as long as the student has answered the question
and their workings are clear.

HOW SHOULD CANDIDATES BETTER PREPARE FOR THE DIPLOMA IN

INTERNATIONAL FINANCIAL REPORTING STANDARDS EXAM?

We have evidence that many candidates do not practise exam questions prior to
the exam but simply read the questions and model answers together. Candidates
are advised to practise the past papers as if they were sitting the exam. Past
papers are published on the website but these are not updated for any technical
changes arising from updates to IFRS. We recommend that candidates use the
revision question banks published by the approved content providers as these
contain past exam questions that are updated to reflect the latest syllabus and
examinable documents

IF PARTIAL WORKINGS IN THE CONSOLIDATED FINANCIAL STATEMENTS ARENT

REFERENCED BACK TO THE FINANCIAL STATEMENTS, WOULD THEY BE MARKED?

Yes, anything in the answer booklet is marked.

THE TOPIC OF REPORTING SMES IS INCLUDED IN THE SYLLABUS (PART C,

SECTION 7 "REPORTING REQUIREMENTS OF SMALL AND MEDIUM SIZED
ENTITIES"), BUT SME STANDARD IS NOT INCLUDED IN THE LIST OF EXAMINABLE
DOCUMENTS. IS THIS A MISTAKE?

This is not a mistake. The study guide for this section of the syllabus contains the
detailed learning outcomes and these all focus on the reasons behind the IFRS
for SMEs and other issues related to its development. Candidates will not be
asked about the detailed requirements in the standard or about how these differ
from full IFRS. For this reason it was decided that the standard should not be
included in the examinable documents list.