The ACCA Diploma in International Financial Reporting (DipIFR) consists of a single, three-hour and 15-minute computer-based exam. This comprehensive exam is held twice a year in June and December. Other IFRS certifications, such as the FSA Credential, require passing two exams.
Assessment. Diploma IFRS will be assessed by a single three-hour fifteen minutes computer based exam, which is held twice a year, once in June and again in December at ACCA's exam centres- in India.
The 9 ACCA exams at the fundamentals level form the backbone of your accounting and business acumen. They include BT, MA, FA, LW, PM, TX, FR, AA, and FM. These exams test your grasp of concepts like management accounting, taxation, financial reporting, and business law.
There are seventeen IFRS principles laid out by the IFRS Foundation; however, unlike the United States' much more prescriptive GAAP method, these IFRS principles supply a set of helpful, high-level guidelines instead of direct rules for companies to follow when issuing financial reports.
You have to attempt all 13 papers for ACCA.
The dip IFRS represents one of the most challenging yet rewarding qualifications in the accounting profession.
All aspiring professionals who appear for the IFRS ACCA exam must score at least 50% to pass the test.
2021 FAR Changes
The FAR section of the CPA Exam saw the elimination of the International Accounting Standards Board (IASB) framework and the IFRS versus U.S. GAAP content area.
The four pillars of IFRS S1 and S2 are governance, strategy, risk management and metrics and targets.
IFRS Skills That Every Accounting Professional Needs:
The typical duration for ACCA is 2–3 years, depending on exemptions, study pace, and exam planning. Class 12 students may take 3–3.5 years, while CA Inter and commerce graduates complete it faster.
The difficulty is different but not strictly “easier” or “harder.” ACCA's toughest paper tends to be AAA or APM, which demands high-level professional judgment and strategic thinking. CA exams might emphasise tax, audit, or regulation more aggressively.
Average Salary of an ACCA in India
5.5 – 11 lakhs p.a and for senior roles, it is ₨. 19-30 lakhs per annum. The average salary of an ACCA member in India is: Entry level: ₹7.05 lakhs per year.
In this blog, we have addressed the most asked questions about the ACCA qualification like, can you finish ACCA in 2 years? On average, it takes two to three years to prepare for all 13 exam papers, but you may earn the qualification in 18 months if you focus on the major eight.
ACCA Certificate in IFRS (CertIFR)
Provided by the Association of Chartered Certified Accountants. Internationally well-known and best suited for accounting and finance professionals.
Exam difficulty: Higher-level exams demand strong analytical skills. Many candidates struggle to complete papers within the given time. Study approach: Students who rely only on self-study often find it harder to pass. Enrolling in a structured ACCA course increases success rates.
In 2001, the International Accounting Standards Board (IASB) took over and developed the International Financial Reporting Standards (IFRS), which replaced IAS and became the global benchmark.
IFRS S1: prescribes how a company prepares and reports its sustainability-related financial disclosures. IFRS S2: sets out supplementary requirements that relate specifically to climate-related risks and opportunities.
IFRS 5 applies to a non-current asset (or disposal group) that is classified as held for distribution to owners. A discontinued operation is a component of an entity that has either been disposed of or is classified as held for sale.
In India, a fresher with IFRS skills typically earns between ₹6,00,000 and ₹8,00,000 annually. Internationally, starting positions in IFRS generally offer salaries ranging from $50,000 to $70,000 per year.
Statistically, BAR has the lowest pass rate at 40%, followed closely by FAR at 41%, making them the hardest to pass, while TCP has the highest pass rate at 76%. However, when CPA candidates were surveyed, FAR was overwhelmingly chosen as the most difficult by 63% of respondents, with AUD in second place at 24%.
IFRS 9 Financial Instruments is one of the most challenging standards because it's quite complex and sometimes complicated.