ACCA Diploma in. Starting this January! International Financial Reporting (DipIFR)

Transcription

1 ACCA Diploma in International Financial Reporting (DipIFR) Starting this January! Suite 4, Level 1, Tower Business Centre, Tower street, Swatar, BKR

2 Overview The Diploma in International Financial Reporting (DipIFR) is an internationally recognized qualification in Financial Accounting using International Financial Reporting Standards (IFRS/IAS). It is accredited by the ACCA (Association of Chartered Certified Accountants) and is aimed at accounting and finance professionals who already have experience in accounting. On passing the final exam, the participant will be able to use the letters DipIFR after his/her name. The aim of the qualification is to develop knowledge, understanding and application of International Financial Reporting Standards and the concepts and principles which underpin them. Who should attend? The Diploma is ideal for accountants, finance or tax professionals, who need a comprehensive refresher of IFRS/IAS or who need to understand and apply the IFRS/IAS. If you are a professional accountant or auditor who works in practice or business, and are qualified according to national accounting standards, then you are eligible to take this ACCA financial reporting qualification. If you are working in practice, but not yet qualified, then you may still be eligible. You will need to prove that you have one of the following: Two years' relevant accounting experience and a relevant degree (attracting at least ACCA qualification exemptions F1-F4) Two years relevant accounting experience and an ACCA Certificate in International Financial Reporting Three years' relevant accounting experience ACCA affiliate status

3 Am I eligible to apply? To confirm the relevance of a degree please refer to ACCA s Exemption Enquiry database If applying on the basis of experience, please submit a completed experience confirmation form Why study DipIFR? On completion of the Diploma candidates should be able to: understand and explain the structure of the framework of international accounting apply relevant financial reporting standards to key elements of financial reports identify and apply disclosure requirements for companies in financial reports and notes prepare group financial statements (excluding group cash flow statements) including subsidiaries, associates and joint ventures

4 DipIFR Course June 2018 Module 1: Saturday 13 th January 9:00am 12.30pm Mr. John Debattista Saturday 20 th January 9:00am 12.30pm Mr. Jonathan Dingli Module 2: Saturday 27 th January 9:00am 12.30pm Mr. Kevin Vassallo Saturday 3 rd February 9:00am 12.30pm Mr. Kevin Vassallo Module 3: Saturday 17 th February 9:00am 12.30pm Mr. Jonathan Dingli Saturday 24 th February 9:00am 12.30pm Mr. Jonathan Dingli Module 4: Saturday 10 th March 9:00am 12.30pm Mr. Kevin Vassallo Saturday 17 th March 9:00am 12.30pm Mr. Kevin Vassallo Module 5: Saturday 7 th April 9:00am 12.30pm Mr. John Debattista Saturday 14 th April 9:00am 12.30pm Mr. John Debattista Module 6: [Revision] Saturday 21 st April 9:00am 12.30pm Mr. Kevin Vassallo Saturday 28 th April 9:00am 12.30pm Mr. Kevin Vassallo Module 7: [Revision] Saturday 5 th May 9:00am 12.30pm Mr. Kevin Vassallo Saturday 12 th May 9:00am 12.30pm Mr. Kevin Vassallo

5 Module 1: Topic areas: 1.1 Non-current assets under IFRS IAS 16 Property, Plant and Equipment IAS 40 Investment Property IAS 38 Intangible Assets IAS 36 Impairment of Assets IAS 23 Borrowing Costs IAS 20 Government Grants 1.2 Statement of Cash Flows under IFRS IAS 7 Statement of Cash Flows (not examinable) 1.3 Substance over Form under IFRS IAS 18 Revenue IAS 17 Leases Module 2: Topic areas: 2.1 Income Taxes IAS 12 Income Taxes 2.2 Earnings per Share IAS 33 Earnings per Share 2.3 Share-based payment IFRS 2 Share-based Payment

6 Module 3: Topic areas: 3.1 Introduction to Groups 3.2 Preparation of the Consolidated Statement of Financial Position 3.3 Preparation of the Consolidated Statement of Comprehensive Income 3.4 Accounting for Associates and Joint Ventures Standards to be covered: IFRS 3 Business Combinations IFRS 10 Consolidated and Separate Financial Statements IAS 28 Investments in Associates IFRS 11 Joint Arrangements IAS 21 The Effects of Changes in Foreign Exchange Rates Module 4: Topic areas: 4.1 Financial instruments under IFRS IAS 32 Financial Instruments: Presentation IAS 39 Financial Instruments: Recognition and Measurement IFRS 9 Financial Instruments

7 Module 5: Topic areas: 5.1 The Conceptual Framework 5.2 Presentation of Published Financial Statements IAS 1 Presentation of Financial Statements 5.3 Reporting Financial Performance IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors IFRS 5 Non-current Assets Held for Sale and Discontinued Operations IFRS 8 Operating Segments 5.4 Inventories and construction contracts IAS 2 Inventories IAS 11 Construction Contracts 5.5 IAS 21 Foreign Transactions and Entities 5.6 IAS 37 Provisions, Contingent Liabilities and Contingent Assets Module 6 & 7: Topic areas: Revision course in preparation for the DipIFR examination Will refresh participants knowledge of the subjects covered in the course and go through a number of past exam questions to develop one s examination skills. Please Note! Some topics from the course, which are examinable, may not be covered during the course. These remaining topics, which are unlikely to be examined, must be covered as home study.

8 Examination Exam Dates: 8 th June 2018 The DipIFR will be assessed by a single three-hour closed book written exam, which is held twice a year in June and December. The pass mark is 50%. Exam Approach: The examination is a three hour paper divided into two sections. It contains a mix of computational and discursive elements. Some questions adopt a scenario/case study approach. Section A includes a mainly computational question and Section B contains a mix of computational and discursive questions. Marks: Section A: One group accounting question 40 Section B: Three compulsory questions (20 marks each) All questions are compulsory to ensure each candidate is examined on all the main syllabus areas. The paper will consist of: One compulsory 40 mark question covering group accounting and individual company adjustments, and Three compulsory 20 mark questions covering a variety of accounting standards.

9 ACCA & Exam Registration Register online through the following link, taking into consideration the 10 days until applications are fully processed Upload the following supporting documentation during registration process Passport size photo Copy of the educational certificates and/or letter from employer confirming your work experience Pay the applicable fee (please refer to the ACCA Registration Fee section on page 7) Once your ACCA registration is complete, inform AIM Academy that your online registration has been completed, quoting your registration number. BPP Study Materials BPP Learning Media is the market leading publisher of study materials for professional exams. BPP Learning Media is an ACCA approved publisher worldwide. Study Text The DipIFR study book contains all the knowledge you need for the exam in practical and user friendly format. Practice & Revision Kit The DipIFR practice & revision kit contains a wealth of practice questions helping you to apply your knowledge and fully prepare for the exam. Pass Cards The DipIFR Passcards will make the best use of your revision time. Their innovative card format helps you revise at a glance.

10 Fees Participation Fees Fee for each individual modules: 150 (including vat but excluding books) Textbooks: BPP Study Text which has extensive coverage of all the topics covered in the Diploma 60 BPP Practice & Revision Kit which is full of exam standard questions to practice 35 BPP Pass Cards aid revision by giving clearer visual emphasis to key points 20 ACCA Registration Fees The fee is 185. This allows one exam attempt. THOSE ALREADY REGISTERED A fee of 185 is applicable until 30 April A fee of 299 is applicable 31 April - 7 May Registered DipIFR students re-sitting the examination in June 2018 should enter through the myacca account created at the time of registration. When you log in to your myacca and choose exam entry, you will then select the country you want to sit your exam in. This will provide you with a list of available exam centres within that country, for that particular exam session. These fees are subject to change without written notice.

11 John Debattista John Debattista is a Certified Public Accountant and Registered Auditor. John is one of the founding partners at Zampa Debattista and heads the Assurance function of the office. He is the IFRS leader and acts as an advisor on highly technical IFRS issues. Prior to Zampa Debattista, John occupied the post of audit manager in a medium sized audit firm where he developed a specialization in the financial services industry and remote gaming sector. John lectures at the final stages of the ACCA, namely the Corporate Reporting paper. John also lectures the ACA course for the ICAEW, Institute Chartered of Accountants for England and Wales, namely the Corporate Reporting paper. John is also a speaker in various audit and accounting seminars delivered by a number of institutes in Malta. Jonathan Dingli Jonathan is an Associate Director within KPMG s Accounting Advisory Services Unit. He has been involved in providing technical advice on various IFRS issues. He also assisted clients in the preparation of consolidated financial statements and in delivering training sessions on specific IFRS matters. Prior to returning to KPMG, Jonathan led the Malta Institute of Accountants Technical Department for seven years. He lectured for the ACCA Advanced IFRS Paper (P2) for BPP in Malta and internationally between 2008 and 2012, and is today an Assistant Lecturer with the Department of Accountancy in the Faculty of Economics, Management and Accountancy at the University of Malta. Kevin Vassallo Kevin is a Certified Public Accountant and holds a Masters Degree in Finance from the University of Leicester. He has been involved in IFRS training for the past 16 years having lectured in both ACA and ACCA accounting and finance papers. He also delivers CPE seminars on behalf of the MIA and a number of other providers. Kevin is a senior executive at the Central Bank of Malta where he has been employed for the past 27 years in financial markets, risk management and accounting.

12 For more Information AIM Professional Academy Limited, Suite 4, Level 1, Tower Business Centre, Tower Street, Swatar, BKR 4013 Tel: (+356) , Facebook: AIM Professional Academy Website: Book your Course Please fill in the following application form and return it by post along with payment (where applicable) at the address specified in the form itself. Please view the Terms and Conditions

13 ACCA Diploma in International Financial Reporting (DipIFR) Application Form- June 2018 Examinations Name & Surname: ID Number: Date Of Birth: Qualification/Degree: Address: Postcode: Telephone Number: Address: Examination Date: If you wish AIM to issue the payment receipt on the employer s company address, please include details and VAT number Module Date Fee Tick where Module 1 Saturday 13 th & 20 th January 18 (9:00-12:30pm) 150 Module 2 Saturday 27 th January & 3 rd February 18 (9: pm) 150 Module 3 Saturday 17 th & 24 th February 18 ( pm) 150 Module 4 Saturday 10 th March & 17 th March 18 ( :30pm) 150 Module 5 Saturday 7 th & 14 th April 18 ( pm) 150 Module 6 Saturday 21 st & 28 th April 18 ( pm) 150 Module 7 Saturday 5 th & 12 th May 18 ( :30pm) 150 Study Material Study Text 60 Practice and Revision Kit 35 Passcards 20 Total

14 Good luck!