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ACCA Platinum
ACCA Diploma in International Financial Reporting (IFRS) -
2012

If you are not already familiar with the principles of International Financial Reporting (IFR) you may now be facing the challenge of developing a working knowledge of IFR as quickly as possible. To meet this need, Griffith College Cork is delighted to announce that, in conjunction with top accounting lecturer Christy Kearney, it will offer a Diploma in International Financial Reporting for June 2012 in Cork. Validated by the Association of Certified Chartered Accountants (ACCA), this diploma is aimed at accountants who need to develop a working knowledge of International Financial Reporting Standards.

The six month course will culminate in an examination in June 2012 and successful candidates will be awarded the diploma by the Association of Certified Chartered Accountants (DipIFR). the diploma will enable candidates to cross boundaries in an increasingly important field of accountancy. It is designed to develop knowledge of international standards by providing an understanding of the concepts and principles which underpin them, and of their application in the international marketplace.

The programme will run in our Cork city-centre location. The lecture team will be led by Christy Kearney who is an award winning lecturer with over 25 years experience in delivering quality lectures to professional accountancy students of ICAI, ACCA, CIMA and CPA examinations. In addition, he continues to be in high demand by top professional bodies for Continuing Professional Development/Education courses across the country.

Who should apply?

The qualification is intended for professional accountants and auditors, working in practice and industry, and who are qualified in accordance with national accounting standards. In addition, those without formal qualifications can also achieve the formal qualification subject to other conditions of entry being met.

or Download an application form

ACCA DIPLOMA IN INTERNATIONAL FINANCIAL REPORTING EXAMINATION DETAILS JUNE 2012

Eligibility

  • Professional accountants and auditors, working in practice and industry, who are qualified in accordance with national accounting standards, are eligible to take the qualification.
  • Practitioners who may not yet be qualified, but who can verify that they have three-years' relevant
    accounting experience through submitting an employer's letter, are also eligible.

Assessment
New exam format (June 2011 onwards)
All questions will be compulsory to ensure each candidate is examined on all the main syllabus areas. The paper will be:

  • One compulsory 40 mark question covering group accounting and individual company adjustments, and
  • Three compulsory 20 mark questions covering a variety of accounting standards.

Changes to examinable documents
From June 2011, IFRICs will no longer be listed as examinable documents. There are no changes to the study guide other than those required to reflect the above.

Examination Entry
You must register directly with ACCA as a student in order to take this exam. ACCA Ireland may be contacted on
01-988900 or www.accaglobal.com.

Important dates and fees
You can register for the Diploma in International Financial Reporting at any time, however in order to sit exams at a specific session, the following deadlines apply:

  • For the June exams Register by 8 April
  • For the December exams Register by 8 October

The same dates apply for requests to change exam sessions and centres.

Fees (payable to ACCA)
The following fees are applicable (and are subject to change without written notice)

  • Registration fee (including one examination attempt) £167 (including VAT)
  • Re-sit fee £167 (if applicable)

For further information visit http://www.accaglobal.com/en/qualifications/glance/dipifr.html

Why choose Griffith College?

Griffith College is Ireland's leading professional accountancy tuition provider for the past 30 years, providing high quality lectures nationwide. In recent years it has also branched into the area of Continuing Professional Education. With the college's experience in the administration of quality CPE courses we are confident that a rewarding and valuable education experience will be obtained by delegates on the diploma programme.

Does the course qualify as CPD?

Yes. The course qualifies as CPD with all major accounting institutes. For example both the ACCA and CPA Institutes indicate the following:

Main body of the course 30 hours
to complete the formal assessment 12 hours

In an innovative development, Griffith College permit candidates to attend the whole course, or any part of the course they wish and earn CPD hours on a pro rata basis.

EXAMINATIONS JUNE 2012

Due to public holidays taking place in the UK from 2–5 June 2012, the ACCA June 2012 exam session will take place from 11–20 June 2012. Therefore the examination for the Diploma in International Financial Reporting will be held on the following date in 2012:

  • 19th June 2012

For further information please contact our Course Administrator, Helen Long on 021 4969110 or email courses@griffithcork.com

Diploma in International Financial Reporting TIMETABLE JUNE 2012

  • Saturday February 18th 2012
  • Saturday March 3rd 2012
  • Saturday March 17th 2012
  • Sunday April 22nd 2012
  • Saturday April 28th 2012
  • Saturday May 13th 2012
  • May 26th (REVISION – Day 1)
  • May 27th (REVISION – Day 2)

Classes start @ 10am unless otherwise stated. Course fee - €1200.

Dip IFR-Course Outline 2012

Comment

Group Accounts and consolidation are the principle part of the course and are examined in the Case Study question (40 marks). This question will also include a number of adjustments which requires in depth knowledge of individual IFRSs.

The other three questions (20 marks each) examine individual IFRSs in real business situations and require a thorough and practical knowledge of each IFRS

Day 1 Introduction & Individual standards

•  IAS 1 Presentation of Financial Statements

•  IFRS 1 First Time Adaptors of IFRS standards

•  IAS 8 Accounting policies, changes in accounting estimates & errors

•  IAS 16 Property, Plant and Equipment

•  IAS 40 Investment Properties

•  IAS 23 Borrowing Costs

•  IAS 20 Accounting for Government Grants and disclosure of Government

•  IFRS 5 Non Current Assets “Held for Sale”

Day 2 Consolidation Technique

•  IFRS 3r Consolidation Theory & Goodwill Calculation

•  IAS 27 Consolidated & separate Financial Statements

•  IFRS 3r Consolidation – Statement of Financial Position

•  IFRS 3r Consolidation – Income Statement

•  IAS 28 Investments in Associates

•  IAS 31 Investments in Joint Ventures

Day 3 – Individual IFRSs

•  IAS 17 Leases

•  IAS 38 Intangible Assets

•  IAS 36 Impairment of Non Current assets

•  IAS 2 Inventories

•  IAS 41 Agriculture

•  IAS 37 Provisions & Contingent Liabilities

•  IAS 10 Events after the reporting date

•  IAS 19 Pensions

•  IFRS 2 Share Based Payments

•  IAS 19 Deferred Tax

Day 4 Income Statement IFRSs

•  IAS 18 Revenue recognition & Exposure Draft

•  IAS 11 Construction Contracts

•  IAS 33 Earnings per share

•  IFRS 8 Segmental Reporting

•  IFRS 5 Discontinued Activities

•  IAS 24 Related Party Transactions

Day 5-Financial Instruments

•  IFRS 9 Financial Instruments

•  IAS 39 Financial Instruments

Day 6

•  IAS 21 Foreign Exchange & Translation of Foreign Entities accounts

•  IAS 7 Cash flows

•  IFRS for MEs

•  Differences between IFRS & Ire/UK GAAP

•  IFRS & US convergence

•  AOB

Companies wishing to sponsor students should download the Griffith College sponsorship agreement and forward it to Griffith College, Cove Street, Sullivans Quay, Cork.

For further information regarding our professional accountancy courses contact us now on 021 4969110 or email Email: courses@griffithcork.com. For details of our undergraduate programmes, please contact 021 4507027.

 

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