Diploma in IFRS: Guide for 2024-25 exams

Diploma in IFRS: Your Complete Guide for 2024-2025 exams

A diploma in IFRS is a crucial certification for finance and accounting professionals specializing in International Financial Reporting Standards (IFRS). With more than 120 countries adopting IFRS, the demand for professionals skilled in global accounting standards is growing. A Diploma in IFRS can be the stepping stone to a rewarding career in financial reporting, audit, or consulting.

In this guide, we'll walk you through everything you need about the Diploma in IFRS, from eligibility and exam structure to career opportunities. Plus, we’ll provide insights on how to register and where to find discounts on course fees through platforms like Eduyush.

What is a Diploma in IFRS?

A Diploma in IFRS is an advanced qualification issued by the Association of Chartered Certified Accountants (ACCA). It provides in-depth knowledge of IFRS and equips professionals with the skills needed to apply global accounting standards in financial reporting.

Key Features:

• Global Recognition: Accepted by multinational companies and financial institutions worldwide.
• Focus on IFRS Standards: Offers a practical approach to implementing IFRS in financial statements.
• Career Mobility: Opens up international finance, audit, and consulting opportunities.

For more insight into how IFRS compares to other certifications, our blog on ACCA DIPIFR vs. AICPA IFRS Certification might be helpful.

Benefits of Earning a Diploma in IFRS

Global Expertise in Financial Reporting

A Diploma in IFRS demonstrates that you are proficient in international accounting standards, essential for working with multinational companies. The qualification ensures you can prepare and interpret financial statements using globally recognized principles. 

Better Career Prospects

Many firms worldwide require IFRS expertise, especially those listed on stock exchanges or those with international subsidiaries. The diploma gives you a competitive edge, making you a more attractive candidate for financial reporting manager, IFRS consultant, or audit specialist positions.

Increased Salary Potential

Professionals who hold an IFRS certification can expect a salary boost. In regions like India, professionals with an IFRS certification earn 20-30% more than their peers without it, making it a worthwhile investment for long-term career growth.

For more information on how IFRS certification can boost your career prospects, check out our blog on IFRS salary in India.

Professional Growth and Global Recognition

The IFRS certification enhances your professional standing and demonstrates your commitment to staying updated with global financial reporting standards. This recognition can fast-track your career, especially in multinational corporations.

Eligibility Criteria for the Diploma in IFRS

The Diploma in IFRS is targeted at professionals working in the accounting and finance sectors. However, it’s not limited to certified accountants.

Who is Eligible?

• Qualified Accountants: Chartered Accountants (CA), Certified Public Accountants (CPA), or anyone with a recognized professional qualification in accounting.
• Finance Professionals: Individuals in financial reporting, audit, or consulting with at least three years of relevant work experience. 

For more detailed insights into the eligibility criteria for ACCA DIPIFR, explore our comprehensive DIPIFR eligibility blog to understand better who qualifies for the program.

Diploma in IFRS Exam Structure

ACCA conducts the exam and follows a rigorous format designed to test theoretical knowledge and practical application of IFRS standards.

Key Details:

• Exam Duration: 3 hours.
• Format: Computer based exam with case studies, scenario-based, and essay-type questions.
• Passing Criteria: To pass, candidates must score 50% or higher.
• Exam Topics: The exam covers a broad range of over 25 IFRS standards.

For more tips on preparing for this challenging exam, check out our blog on How to Pass the Diploma in IFRS Exam.

Where Are the Diploma in IFRS Exams Conducted?

The DIPIFR exam is conducted globally through Pearson VUE Prometric centers. These are highly secure, computer-based testing locations where you can schedule your exam at a time that suits you during the exam window.

• The ACCA DipIFR exam is conducted twice annually, usually in June and December. For more details on exam dates and pass rates, check out the blog on upcoming ACCA exam dates.
• Candidates can choose the exam cycle that aligns with their preparation and availability.
• The global pass rate for the DipIFR exam typically falls between 35-40%, highlighting the need for thorough preparation.

 For a complete list of ACCA exam centers for DipIFR, visit our ACCA Exam Centre Guide.

How to Register for the Diploma in IFRS

Registering for the Diploma in IFRS is a straightforward process. You must create an account on the ACCA portal, pay the required fees, and select your preferred exam date and location.

It’s essential to follow the registration deadlines to avoid late fees. For a detailed walkthrough, follow our Step-by-Step Guide to Diploma in IFRS Registration to ensure a smooth registration process.

How to Prepare for the Diploma in IFRS Exam

Understand the IFRS syllabus

To ace the exam, it would help if you thoroughly understood the IFRS syllabus. Ensure you are familiar with the structure and content of the critical standards. Refer to the ACCA-approved diploma in ifrs Books to help you get familiar with the syllabus.

Enroll in a Preparation Course

Enrolling in a Diploma in IFRS course is advisable to increase your chances of passing. Many preparation providers offer comprehensive study materials, expert guidance, and mock exams to help you succeed.

Eduyush, a trusted partner for ACCA certification courses, offers DIPIFR courses discounts. They also provide affordable BPP study materials and instructor support, helping you prepare effectively.

Get discounts on your Diploma in IFRS registration through Eduyush here.

Practice with Past Exam Papers

Solving past exam papers will help you understand the format and types of questions that may appear in the exam. Regular practice improves your speed and accuracy, ensuring you’re well-prepared on exam day.

Stay Updated on Changes

IFRS standards are updated regularly, so follow global IFRS updates and read ACCA technical articles to stay informed about the latest developments.

For more tips and resources, visit our blog on Top tips on how to pass the Diploma in IFRS. 

Cost and Duration of the Diploma in IFRS

The cost and duration of the Diploma in IFRS vary depending on the preparation method and country of registration.

Cost Breakdown:

• ACCA Registration Fees: The initial registration fees and exam fees for the ACCA DIPIFR range from INR 27,000 to INR 30,000 (approximately $350-USD 500), depending on where you are taking the exams.
• Preparation Course Fees: If you enroll in a course provider like Eduyush, the preparation course fee ranges from INR 10,000 to INR 20,000, depending on the materials and support offered. Tip: Eduyush offers a complete waiver on the ACCA initial registration fees of 89 GBP.

Read our blog on detailed break up of Diploma in IFRS costs and how to save on the registration fees..

Duration:

• Study Time: The average preparation time for the DIPIFR exam is 3-6 months, with candidates typically dedicating 150-200 hours of study time. Read our insights on how much time it takes to prepare for the DIPIFR exams.

Career Opportunities After Diploma in IFRS

Once you earn your IFRS certification, several career opportunities become available. Some of the key roles include:

• IFRS Consultant: Advising companies on transitioning to or complying with IFRS standards.
• Financial Reporting Manager: Prepares financial statements for multinational organizations using IFRS.
• Audit Manager: Conducting audits to ensure IFRS compliance.
• IFRS Trainer: Training and consulting services to firms on the latest IFRS standards.

Professionals with IFRS expertise are in high demand, especially in the banking, insurance, IT, and manufacturing industries.

FAQs

What is the pass rate for the Diploma in IFRS exam?

The global pass rate for the Diploma in IFRS exam is typically between 35% and 40%, so adequate preparation is vital.

Can I take the Diploma in IFRS exam online?

Yes, depending on your location, you can take the exam online or at an ACCA exam center.

How long does it take to receive the Diploma in IFRS certificate?

Once you pass the exam, ACCA usually issues the Diploma in IFRS certificate within six weeks.

Is the Diploma in IFRS recognized globally?

Yes, the Diploma in IFRS is recognized globally and is especially valued in regions where IFRS compliance is mandatory, such as the EU, India, and the Middle East.

Conclusion: Is a Diploma in IFRS Worth It?

A Diploma in IFRS is a valuable investment for any finance or accounting professional looking to expand their expertise in global financial reporting. The certification opens doors to exciting career opportunities, provides significant salary benefits, and enhances global mobility. This qualification is an excellent choice if you’re considering a career in financial reporting or audit.

To learn more about discounts on Diploma in IFRS registration fees and courses, visit Eduyush.