Overview of the course
We offer a range of ACCA courses on International Financial Reporting, including the Certificate in International Financial Reporting. This financial reporting course offers a broad introduction to the field of International Financial Reporting and International Financial Reporting Standards (IFRS). It traces the history of the International Accounting Standards Board (IASB) from its early roots through to recent changes and updates and future developments.
The qualification is structured in an accessible and user-friendly way that underlines key information and provides useful summaries. It examines and breaks down specific standards topic-by-topic. There are case studies, which are based on real-life examples, and many exercises, multiple-choice questions and sample answers for you to test your knowledge as you progress through the course.
How it works?
The certificate is assessed by a one-hour exam with multiple-choice questions.
The pass mark is 50%.
The fees cover two attempts to re-sit the assessment if you fail but must be taken within six months. If you do not pass after three attempts, you will need to pay another registration fee to attempt the assessment again, giving you a further three attempts to pass.
THE SYLLABUS
1. The nature and operations of the IASB
• Structure of the IFRSF/IASB
• Extant standards of the IASB
• The framework.
2. The status and use of IFRSs around the world
• The use of IFRS around the world
• The IAS Broadmap
• The annual IASB bound volume and its use.
3. Presentation and profit
• IAS 1, Presentation of financial statements
• IFRS 15, Revenue from contracts with customers
• IAS 8, Accounting policies, changes in accounting estimates and errors.
4. Accounting for assets and liabilities - part 1
• IAS 16, Property, plantand equipment
• IAS 38, Intangible assets
• IAS 40, Investment Property
• IAS 36, Impairment of assets
• IAS 23, Borrowing costs
• IAS 20, Accounting for government grants and disclosure of government assistance
• IAS 2, Inventories
• IFRS 16, Leases
• IFRS 5, Non-current assets held for sale and discontinued operations
5. Accounting for assets and liabilities - part 2
• IFRS 13, Fair Value Measurement
• IFRS 32, Financia linstruments - presentation
• IFRS 9, Financial instruments
• IFRS 7, Financial instruments: disclosures
• IFRS 2, Share-based payment
• IAS 37, Provisions, contingent liabilities and contingent assets
• IAS 10, Events after the reporting period
• IAS 19, Employee benefits
• IAS 12, Incometaxes
• IAS 41, Agriculture
• IFRS 6, Exploration for and evaluation of mineral resources.
6. Groupaccounting
• IFRS 10, Consolidated Financial Statements
• IAS 27 (revised 2011), Separate financial statements
• IFRS 3, Business Combinations
• IAS 28 (revised 2011), Investments in associates and joint ventures
• IFRS 11, Joint arrangements
• IFRS 12, Disclosure of interests in other entities
• IAS 21, The effects of changes in foreign exchange rates
• IAS 29, Financial reporting in hyperinflationary economies.
7. Disclosure standards
• IAS 7, Statement of cash flows
• IAS 24, Related party disclosures
• IAS 33, Earnings per share
• IAS 34, Interim financial reporting
• IFRS 4, Insurance contracts
• IFRS 1, First time adoption of IFRS
• IFRS 8, Operating segments.
8. Principal differences between UK/US GAAP and IFRS
9. Proposals for change
Why ACCA: Your success is our mission
Why study with ACCA? Simple. You have the world’s most progressive and supportive accountancy body driving your career towards even greater opportunity. Join the fastest-growing gateway to the accountancy profession and build your success story.
ACCA is the world’s fastest-growing gateway to the accountancy profession, helping people like you to become successful accountancy professionals. Our global reputation is so strong that we now have over 170,000 members and 436,000 students in 180 countries. We also work with over 8,500 approved employers and over 80 accountancy partnerships worldwide.
Greater opportunity
Our mission is to give you greater career opportunity through qualifications that are recognized and recommended around the world. Based on international accounting standards and independently benchmarked for quality, employers know that an ACCA qualification is a mark of professional excellence. This has been proved to greatly increase the opportunities for career progression and reward.
Championing equality and diversity
Promoting greater career opportunity differentiates ACCA from many other professional bodies that focus on exclusivity. We believe that everyone should have access to exceptional qualifications that give professionals and their employer’s confidence. As a result, we’re proud to have one of the most diverse member and student bodies in the world.
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Our qualifications embody ACCA’s reputation for excellence, integrity and accountability – a reputation you become associated with the moment you begin studying. This contributes to the greater career opportunities that ACCA students benefit from. You can read more about how we gained our reputation and worldwide influence.
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ACCA is also seen as a driving force at the forefront of accountancy. Alongside our educational opportunities, we champion a well-regulated and ethical profession that delivers the highest standards of expertise and client care. We advise and support members, governments, organizations, regulators and employers, and encourage and deliver research that helps to inform and shape the future of accountancy and business.