DIPIFR Master Keywords Terminology Dictionary

Organized by Standard Number for Strategic Exam Application

🎯 How to Use This Dictionary

Purpose: Master the exact terminology for each standard that examiners expect to see.

Strategy: When tackling any standard, use 4-6 terms from that standard's section to demonstrate mastery.

Exam Application: Quickly reference the standard you're working on to ensure professional language throughout your answer.

Competitive Edge: While others use generic terms, you'll use precise language that triggers positive examiner recognition.

💸 IAS 12 - Income Taxes

"Temporary difference"

• When to use: Explaining variance between accounting and tax
• Why critical: Official IAS 12 terminology replacing "timing differences"
• Weak alternative: "Tax difference," "timing difference"

"Tax base"

• When to use: Calculating temporary differences for deferred tax
• Why critical: Technical term for tax measurement basis
• Weak alternative: "Tax value," "tax amount"

"Taxable temporary difference"

• When to use: When carrying amount exceeds tax base
• Why critical: Technical classification for DTL recognition
• Weak alternative: "Will pay more tax," "tax increase"

"Deductible temporary difference"

• When to use: When tax base exceeds carrying amount
• Why critical: Technical classification for DTA recognition
• Weak alternative: "Tax savings," "future deduction"

"Deferred tax liability"

• When to use: Recognizing future tax obligations
• Why critical: Precise liability classification
• Weak alternative: "Tax provision," "future tax payable"

"Deferred tax asset"

• When to use: Recognizing future tax benefits
• Why critical: Specific asset classification
• Weak alternative: "Tax credit," "tax benefit"

"Probable taxable profits"

• When to use: Assessing DTA recognition criteria
• Why critical: Key recognition test for tax benefits
• Weak alternative: "Likely profits," "expected earnings"

"Enacted or substantively enacted"

• When to use: Selecting tax rates for measurement
• Why critical: Specific rate selection criteria
• Weak alternative: "Expected rates," "current rates"

"Non-current classification"

• When to use: Presenting all deferred tax items
• Why critical: All deferred tax is non-current
• Weak alternative: "Long-term," "fixed assets section"

"Reversal of temporary differences"

• When to use: Explaining future tax impact timing
• Why critical: Shows understanding of when differences unwind
• Weak alternative: "Tax effects," "future consequences"

🏗️ IAS 16 - Property, Plant & Equipment

"Available for use"

• When to use: Determining when depreciation begins
• Why critical: Precise timing trigger, not "actually used" or "full capacity"
• Weak alternative: "Ready to use," "completed," "in use"

"Capitalizable cost" / "Cost of PPE"

• When to use: Summarizing what gets included in PPE initial cost
• Why critical: Professional terminology for asset recognition
• Weak alternative: "Total cost," "amount to record"

"Directly attributable costs"

• When to use: Determining what to capitalize in PPE cost
• Why critical: Exact IAS 16 terminology showing standard knowledge
• Weak alternative: "Related costs," "associated expenses"

"Manner intended by management"

• When to use: Defining when assets are available for use
• Why critical: Exact standard wording for depreciation trigger
• Weak alternative: "How management wants to use it"

"Accumulated depreciation"

• When to use: Discussing asset carrying amounts and contra-assets
• Why critical: Proper terminology for depreciation presentation
• Weak alternative: "Depreciation expense," "total depreciation"

"Revaluation surplus"

• When to use: Recording upward PPE revaluations
• Why critical: Official terminology for equity component
• Weak alternative: "Revaluation gain," "increase in value"

"Other Comprehensive Income (OCI)" (Cross-standard term)

• When to use: Recording revaluation surpluses, not profit or loss
• Why critical: Proper financial statement presentation
• Weak alternative: "Income statement," "profit or loss"

"Qualifying asset" (IAS 23 integration)

• When to use: Determining borrowing cost capitalization eligibility
• Why critical: Shows cross-standard knowledge with IAS 23
• Weak alternative: "Asset being built," "construction project"

"Constructive obligation" (IAS 37 integration)

• When to use: Discussing dismantling/restoration provisions
• Why critical: Demonstrates IAS 37 integration understanding
• Weak alternative: "Future cost," "expected expense"

👥 IAS 19 - Employee Benefits

"Defined contribution plan"

• When to use: When employer obligation limited to contributions
• Why critical: Simple classification affecting accounting treatment
• Weak alternative: "Pension contribution," "retirement plan"

"Defined benefit plan"

• When to use: When employer bears actuarial and investment risk
• Why critical: Complex classification requiring three-component measurement
• Weak alternative: "Company pension," "benefit scheme"

"Current service cost"

• When to use: Discussing DB plan expense components
• Why critical: Technical term for pension service element to P&L
• Weak alternative: "Service expense," "pension cost"

"Net interest"

• When to use: Calculating DB plan finance cost component
• Why critical: Technical term for pension interest element
• Weak alternative: "Interest expense," "discount unwinding"

"Remeasurements"

• When to use: Discussing actuarial gains/losses on DB plans
• Why critical: Official term for pension OCI component
• Weak alternative: "Actuarial adjustments," "valuation changes"

"Present value of defined benefit obligation"

• When to use: Measuring employer's pension liability
• Why critical: Technical measurement terminology
• Weak alternative: "Pension liability," "benefit obligation"

"Plan assets at fair value"

• When to use: Discussing DB asset measurement
• Why critical: Specific measurement basis for plan investments
• Weak alternative: "Pension assets," "plan investments"

"Actuarial gains and losses"

• When to use: Explaining remeasurement components
• Why critical: Technical actuarial terminology
• Weak alternative: "Valuation changes," "estimate adjustments"

"Discount rate" (Cross-standard term)

• When to use: Present value calculations for pensions
• Why critical: Key assumption in measurement
• Weak alternative: "Interest rate," "discount factor"

"Employee benefit expense"

• When to use: Recognizing various employee-related costs
• Why critical: General expense classification
• Weak alternative: "Staff costs," "payroll expense"

⚖️ IAS 37 - Provisions, Contingent Liabilities & Contingent Assets

"Present obligation"

• When to use: Establishing that provision recognition criteria exist
• Why critical: Exact IAS 37 terminology for recognition criteria
• Weak alternative: "Current debt," "amounts owed"

"Constructive obligation"

• When to use: Explaining obligations from past practice without legal requirement
• Why critical: Most tested IAS 37 concept distinguishing business reality
• Weak alternative: "Moral obligation," "ethical duty"

"Probable outflow of resources"

• When to use: Assessing provision recognition likelihood (>50%)
• Why critical: Precise standard language for probability threshold
• Weak alternative: "Likely to pay," "probably will cost"

"Best estimate"

• When to use: Discussing provision measurement methodology
• Why critical: Official IAS 37 measurement approach
• Weak alternative: "Reasonable estimate," "approximate cost"

"Reliable estimate"

• When to use: Assessing final recognition criterion
• Why critical: Fourth essential recognition criterion
• Weak alternative: "Can estimate," "rough calculation"

"Time value of money"

• When to use: Justifying discounting of long-term provisions
• Why critical: Shows understanding of present value concepts
• Weak alternative: "Future value," "interest effects"

"Settlement of obligation"

• When to use: Describing how provisions are utilized
• Why critical: Professional terminology for provision discharge
• Weak alternative: "Paying the bill," "making payment"

"Unwinding of discount"

• When to use: Accounting for interest accretion on discounted provisions
• Why critical: Technical term for provision interest expense
• Weak alternative: "Interest increase," "time adjustment"

"Valid expectations"

• When to use: Explaining constructive obligations from past practice
• Why critical: Key concept for constructive vs legal distinction
• Weak alternative: "People expect," "assumptions made"

"Contingent liability"

• When to use: When disclosure only required (not recognition)
• Why critical: Distinguishes from recognized provisions
• Weak alternative: "Possible cost," "potential liability"

🧠 IAS 38 - Intangible Assets

"Development phase"

• When to use: Distinguishing from research phase for capitalization
• Why critical: Critical phase distinction enabling asset recognition
• Weak alternative: "Later stage," "advanced development"

"Technical feasibility"

• When to use: Assessing first development recognition criterion
• Why critical: Exact IAS 38 terminology for development criteria
• Weak alternative: "Can be done," "technically possible"

"Probable future economic benefits"

• When to use: Applying intangible asset recognition criteria
• Why critical: Core recognition criterion for development costs
• Weak alternative: "Will make money," "profitable"

"Reliable estimate" (Cross-standard term)

• When to use: Assessing measurement capability for intangibles
• Why critical: Final recognition criterion shared with IAS 37
• Weak alternative: "Can estimate," "rough calculation"

"Available for use" (Cross-standard term)

• When to use: Determining when amortization begins
• Why critical: Same trigger as IAS 16 depreciation
• Weak alternative: "Ready to use," "completed"

"Systematic basis"

• When to use: Describing amortization method for intangibles
• Why critical: Required amortization approach in the standard
• Weak alternative: "Even allocation," "regular basis"

"Identifiable asset"

• When to use: Discussing intangible asset recognition criteria
• Why critical: Core concept distinguishing recognizable intangibles
• Weak alternative: "Separate asset," "specific item"

"Indefinite useful life"

• When to use: Classifying intangibles not subject to amortization
• Why critical: Technical classification affecting measurement
• Weak alternative: "Unlimited life," "permanent asset"

"Internally generated"

• When to use: Applying recognition restrictions for intangibles
• Why critical: Key distinction for capitalization rules
• Weak alternative: "Self-created," "developed in-house"

"Annual impairment testing" (IAS 36 integration)

• When to use: Discussing indefinite life asset requirements
• Why critical: Shows integration with impairment standard
• Weak alternative: "Check for impairment," "value testing"

🌾 IAS 41 - Agriculture

"Biological asset"

• When to use: Identifying living plants/animals in agricultural contexts
• Why critical: Official scope definition triggering fair value measurement
• Weak alternative: "Farm animals," "growing crops," "livestock"

"Agricultural produce"

• When to use: Discussing harvested products at point of harvest
• Why critical: Technical term distinguishing from biological assets
• Weak alternative: "Harvested crops," "farm products"

"Biological transformation"

• When to use: Explaining why IAS 41 applies to living assets
• Why critical: Core concept distinguishing agriculture from other industries
• Weak alternative: "Natural growth," "development," "maturation"

"Fair value less costs to sell (FVLCTS)"

• When to use: Stating IAS 41 measurement methodology
• Why critical: Exact measurement terminology - never just "fair value"
• Weak alternative: "Fair value," "market value"

"Point of harvest"

• When to use: Timing transfer from biological assets to inventory
• Why critical: Critical transition point between standards
• Weak alternative: "When picked," "harvest time"

"Bearer plant" (IAS 16 integration)

• When to use: Discussing productive plants over multiple periods
• Why critical: Classification affecting which standard applies
• Weak alternative: "Fruit trees," "productive plants"

"Active market" (IFRS 13 integration)

• When to use: Discussing fair value hierarchy Level 1 inputs
• Why critical: Fair value measurement integration
• Weak alternative: "Available market," "trading market"

"Principal market" (IFRS 13 integration)

• When to use: Determining fair value measurement basis
• Why critical: IFRS 13 hierarchy concept for agricultural valuations
• Weak alternative: "Main market," "primary market"

"Present value of expected cash flows"

• When to use: Level 3 fair value when no active market exists
• Why critical: Shows understanding of valuation techniques
• Weak alternative: "Discounted cash flow," "future value"

🎭 IFRS 2 - Share-based Payment

"Grant date fair value"

• When to use: Measuring equity-settled share-based payments
• Why critical: Precise timing and measurement principle
• Weak alternative: "Fair value," "option value"

"Vesting period"

• When to use: Determining share-based payment recognition timing
• Why critical: Technical term for performance period
• Weak alternative: "Service period," "waiting period"

"Service condition"

• When to use: Classifying employment-based vesting requirements
• Why critical: Specific vesting condition affecting quantity adjustment
• Weak alternative: "Work requirement," "employment terms"

"Market condition"

• When to use: Classifying share price-based vesting conditions
• Why critical: Affects fair value measurement, not quantity
• Weak alternative: "Share price target," "stock performance"

"Non-market performance condition"

• When to use: Classifying operational target conditions
• Why critical: Precise condition classification affecting treatment
• Weak alternative: "Business target," "company performance"

"Share-based payment reserve"

• When to use: Recording equity-settled compensation arrangements
• Why critical: Specific equity component terminology
• Weak alternative: "Equity reserve," "option reserve"

"Remeasured at each reporting date"

• When to use: Describing cash-settled arrangements
• Why critical: Key distinction from equity-settled treatment
• Weak alternative: "Revalued regularly," "updated periodically"

"Cash-settled liability"

• When to use: Discussing SBP arrangements settled in cash
• Why critical: Creates balance sheet obligation requiring remeasurement
• Weak alternative: "Share-based liability," "compensation liability"

"Incremental fair value"

• When to use: Accounting for share-based payment modifications
• Why critical: Technical term for modification accounting
• Weak alternative: "Additional value," "extra compensation"

"Accelerated recognition"

• When to use: Discussing cancellation accounting
• Why critical: Specific timing adjustment required
• Weak alternative: "Early recognition," "immediate expense"

💰 IFRS 9 - Financial Instruments

"Business model"

• When to use: Classifying financial assets for measurement
• Why critical: Core IFRS 9 classification concept alongside SPPI
• Weak alternative: "Investment strategy," "management intent"

"SPPI test"

• When to use: Assessing debt instrument cash flow characteristics
• Why critical: Official IFRS 9 terminology for contractual analysis
• Weak alternative: "Cash flow test," "payment analysis"

"Fair value through profit or loss (FVPL)"

• When to use: Default classification for financial instruments
• Why critical: Exact IFRS 9 classification terminology
• Weak alternative: "Fair value," "mark to market"

"Fair value through OCI (FVOCI)"

• When to use: Debt instruments held to collect and sell
• Why critical: Specific classification with presentation impact
• Weak alternative: "Fair value to reserves," "OCI treatment"

"Amortised cost"

• When to use: Measuring debt instruments held to collect
• Why critical: Core IFRS 9 measurement category
• Weak alternative: "Book value," "carrying amount"

"Effective interest method" (Cross-standard term)

• When to use: Measuring amortised cost instruments
• Why critical: Required technique vs straight-line method
• Weak alternative: "Interest calculation," "amortization method"

"Derivative financial instrument"

• When to use: Identifying contracts meeting derivative definition
• Why critical: Triggers specific measurement and hedging rules
• Weak alternative: "Derivative contract," "financial derivative"

"Hedging instrument"

• When to use: Discussing derivatives in hedge relationships
• Why critical: Technical hedge accounting terminology
• Weak alternative: "Derivative," "hedge contract"

"Effective portion"

• When to use: Discussing hedge accounting gains/losses
• Why critical: Critical distinction for OCI vs P&L treatment
• Weak alternative: "Hedge gains," "successful hedge amount"

"Cash flow hedge reserve"

• When to use: Recording hedge accounting in OCI
• Why critical: Specific reserve name in equity section
• Weak alternative: "Hedge reserve," "OCI account"

"Unavoidable obligation" (IAS 32 integration)

• When to use: Distinguishing financial liabilities from equity
• Why critical: Key test for liability classification
• Weak alternative: "Requirement to pay," "debt obligation"

💵 IFRS 15 - Revenue from Contracts with Customers

"Performance obligation"

• When to use: Identifying revenue recognition units in contracts
• Why critical: Core IFRS 15 concept defining recognition timing
• Weak alternative: "Deliverable," "service element"

"Transfer of control"

• When to use: Determining when to recognize revenue
• Why critical: Fundamental IFRS 15 principle replacing risk/rewards
• Weak alternative: "Delivery," "completion"

"Transaction price"

• When to use: Measuring consideration for revenue recognition
• Why critical: Technical term for IFRS 15 measurement basis
• Weak alternative: "Contract value," "sales price"

"Standalone selling price"

• When to use: Allocating consideration to performance obligations
• Why critical: Specific IFRS 15 allocation methodology
• Weak alternative: "Fair value," "market price"

"Distinct"

• When to use: Identifying separate performance obligations
• Why critical: Technical test determining recognition units
• Weak alternative: "Separate," "individual"

"Highly probable"

• When to use: Constraining variable consideration recognition
• Why critical: Much higher threshold than simple "probable"
• Weak alternative: "Likely," "probable"

"Over time" vs "Point in time"

• When to use: Determining revenue recognition timing patterns
• Why critical: Fundamental IFRS 15 timing classification
• Weak alternative: "Progressive," "upon completion"

"Contract asset"

• When to use: When performance exceeds customer billings
• Why critical: Specific IFRS 15 balance sheet presentation
• Weak alternative: "Unbilled revenue," "accrued income"

"Contract liability"

• When to use: When customer payments exceed performance
• Why critical: Specific IFRS 15 obligation terminology
• Weak alternative: "Deferred revenue," "unearned income"

"Significant reversal"

• When to use: Applying constraint to variable consideration
• Why critical: Specific threshold for recognition constraint
• Weak alternative: "Major change," "substantial adjustment"

"Significant financing component"

• When to use: Adjusting transaction prices for time value
• Why critical: Technical IFRS 15 adjustment affecting measurement
• Weak alternative: "Interest element," "time value"

🏠 IFRS 16 - Leases

"Right-of-use (ROU) asset"

• When to use: Initial and subsequent measurement under leases
• Why critical: Core IFRS 16 concept replacing operating lease treatment
• Weak alternative: "Lease asset," "rental rights"

"Lease liability"

• When to use: Initial and subsequent measurement of lessee obligations
• Why critical: Core IFRS 16 liability requiring specific measurement
• Weak alternative: "Rent obligation," "payment liability"

"Incremental borrowing rate"

• When to use: Discounting lease payments when implicit rate unknown
• Why critical: Technical discount rate determination
• Weak alternative: "Interest rate," "discount rate"

"Present value of lease payments"

• When to use: Initial measurement of lease liability
• Why critical: Core measurement approach for lease obligations
• Weak alternative: "Discounted payments," "PV calculation"

"Effective interest method" (Cross-standard term)

• When to use: Subsequent measurement of lease liability
• Why critical: Same method as financial instruments
• Weak alternative: "Interest calculation," "amortization"

"Available for use" (Cross-standard term)

• When to use: Determining when ROU asset depreciation begins
• Why critical: Consistent with IAS 16 depreciation trigger
• Weak alternative: "Ready to use," "lease commencement"

"Lease term"

• When to use: Determining depreciation period for ROU assets
• Why critical: Key estimate affecting measurement
• Weak alternative: "Contract period," "rental duration"

🔗 Cross-Standard Power Terms

Universal Integration Terms

These terms appear across multiple standards and show comprehensive understanding:

"Time value of money" (IAS 37, IFRS 16, IAS 19)

• Shows present value concept understanding across all contexts

"Present value" (IAS 37, IFRS 16, IAS 19)

• Demonstrates discounting technique application

"Fair value" (IFRS 9, IFRS 13, IAS 41, IFRS 2)

• Core measurement concept across multiple standards

"Other Comprehensive Income (OCI)" (IAS 16, IAS 19, IFRS 9, IAS 12)

• Proper financial statement presentation vs profit or loss

"Available for use" (IAS 16, IAS 38, IFRS 16)

• Consistent timing trigger across asset standards

"Reliable estimate" (IAS 37, IAS 38)

• Recognition criterion in multiple standards

"Effective interest method" (IFRS 9, IFRS 16)

• Measurement technique for financial instruments and leases

🎯 Strategic Usage by Exam Question Type

For IAS 12 Questions:

Use: "Temporary difference," "Tax base," "Deferred tax liability/asset," "Probable taxable profits"

For IAS 16 Questions:

Use: "Directly attributable costs," "Available for use," "Revaluation surplus," "OCI"

For IAS 19 Questions:

Use: "Defined benefit plan," "Current service cost," "Remeasurements," "Present value of defined benefit obligation"

For Provision Questions (IAS 37):

Use: "Present obligation," "Constructive obligation," "Probable outflow," "Best estimate"

For Intangible Asset Questions (IAS 38):

Use: "Development phase," "Technical feasibility," "Probable future economic benefits," "Systematic basis"

For Agriculture Questions (IAS 41):

Use: "Biological asset," "Fair value less costs to sell," "Biological transformation," "Point of harvest"

For Share-based Payment (IFRS 2):

Use: "Grant date fair value," "Vesting period," "Service condition," "Remeasured"

For Financial Instruments (IFRS 9):

Use: "Business model," "SPPI test," "Fair value through profit or loss," "Effective interest method"

For Revenue Recognition (IFRS 15):

Use: "Performance obligation," "Transfer of control," "Transaction price," "Distinct"

For Lease Questions (IFRS 16):

Use: "Right-of-use asset," "Lease liability," "Incremental borrowing rate," "Present value of lease payments"

High-Impact Combinations:

• IAS 16 + IAS 12: "Revaluation surplus" + "Deferred tax liability" + "OCI"
• IAS 37 + IAS 16: "Constructive obligation" + "Directly attributable costs"
• IFRS 15 + IAS 37: "Performance obligation" + "Service-type warranty"
• Any standard + Ethics: Technical terms + "Faithful representation"

Master these standard-specific terms and you'll demonstrate professional competence that sets you apart from other candidates! Use 4-6 terms per answer to maximize examiner recognition and marks! 🚀