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hi all,
It looks like i’ll be the first one to post here 🙂
This is our newly created group, specially for Diploma in IFRS!
Most of u come here for ACCA materials and study buddies, however ACCA qualification is not the only thing that we can study.
There are plenty of degrees that we can get on our way to ACCA membership or after it 🙂One of those degrees is Diploma in International Financial Reporting Standards, or DipIFR.
You can read more about it here :
https://www2.accaglobal.com/members/qualifications/dipifr/
Some of u might think , why borther , u’ll have ACCA, which includes financial reporting papers, and what makes this Diploma different.
Well, the big difference is that u’ll need to pass just one exam and u’ll be recognized as an IFRS specialist, while ACCA will still take you years. So simply, u can get some proof of your qualification earlier, plus it’s a separate Diploma which will serve as a good proof of your professional knowledge.
The difficulty of the paper lies between F7 and P2 exams.
Many things could be mentioned here, but excessive information is presented at ACCA website 🙂
As for materials, from my quick overview, i guess BPP and ATC would be the most suitable 🙂
So let’s gather together and work towards obtaining of this degree!!
good luck,
ansi
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Hi Ansi,
Have you achieved the DipIFR? I’m planning to take the June 2012 exam and right now starting the preparation class with BPP material.
Do you have any suggestion for those preparing for the exam?
Thanks
Hi Myv,
yea , i did, thanks God 🙂
For DipIFR i suggest ATC materials. I also had bpp books, but ATC just did it for me. Some days of practice and i passed the exam without big problem, though i failed F7 at the same sitting 🙂
Add me to friends, i think we’ll have things to discuss 🙂Big suggestion for this exam two things :
1) Be perfect at consolidation.
Columnar approach (several columns) is better then 1 column for CIS.
And concentrate on your workings. They must be clear and detailed.Get ready that it might take u half of exam time. At least that’s how it did for me.
2) Don’t ignore theoretical issues, like conceptual framework.
Be ready to explain what u are doing.U see DipIFR is a complicated exam, so my advice is, do not try to memorise the book. It’s not possible in 3 months. It can take up to year or more to study it well.
To pass this exam u need to practice. Practice!
I was studying DipIFR at the same time with F7 so of course it was easier for me then if i was doing DipIFR alone, but to be honest with u , i was not good at standards, i really was not. What i did , is practiced with kit. And memorized all the small differences between F7 and DipIFR, because same things are examined all the time.- Topics: 0
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Hi Ansi
If I may ask, which kit are you refering to?.
Also I just registered for the certIfr and the DipIfr and i barely have 3months to prepare. the good thing is i have now to june free to study full time, no work.
In your opinion, what will be the best aproach I can take, and what will you recommend as study matterial.warm regards
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Does this Forum actualy exist? who is the moderator/admin here? cant feel your action.
Hi,
this forum exists 🙂
but it’s not like it’s being checked every day 🙂
i was quite busy recently and noticed your post only now.In my posts i am refering to ATC kit.
Go to ATC international website and you’ll find that kit there, not for free though.I am not sure it was a good idea to register for CerfIFR and DipIFR at the same time. You should have completed CertIFR first., but well it’s up to u.
And again, as for Study material, i recommend ATC.
Though ATC is good to use when u have a strong knowledge of consolidation. I acquired it by using LSBF lectures,
however if u check OT F7 videos , they will be very helpful to you.What i suggest u is to practice immediately , with kit.
U don’t really have time to study and in DipIFR it’s impossible to study everything anyway. U just need to train yourself to pass this exam.Hello All, just joined the forum recently, and observed we don’t have much discursive content on DipIFR i.e not so much comments on topics and how the exam went. I wrote the June 2013 exams. Did any other person do this here?
Thanks.
Hello all
Hoping someone can assist with the below
I am currently practicing questions for DipIFRS and came across step acquisitions.
I am having issues with calculating the extra 20% purchase – hoping someone can help. QUESTION BELOWMolle intends to purchase a controlling interest in another entity, Compound Ltd
(Compound), which supplies components for Molle’s business, with a target date set
for the acquisition of 1 July 2018. The directors of Molle are undecided as to whether
to make an offer for 100% or 80% of Compound’s shares. If only 80% of the shares
are purchased, Molle’s intention would be to purchase the remaining 20% of the
shares at a later date. Compound’s current owners are open to a sale, and would be
willing to enter into an agreement whereby Molle would have an option to purchase
the remaining shares in Compound within a time period in accordance with a preagreed
valuation basis.
Molle expects to pay €8 million for 80% of Compound’s shares (or €10 million for
100% of the shares) on 1 July 2018. Compound’s net assets are estimated to be €7.6
million at carrying amount at 1 July 2018. It is estimated that the fair value of
Compound’s net assets would be €8.4 million at that date, the difference relating to
depreciable assets with a remaining useful life of 8 years.
For estimation purposes, the directors are assuming that net assets, fair value and
proportionate purchase price would rise by 10% if 20% of the shares are purchased at
a later date.
Any non-controlling interest would be measured at the proportionate share of the fair
value of the identifiable net assets of Compound.
Molle’s directors would like to know the financial reporting consequences for its
consolidated financial statements at and after the proposed acquisition date of
Compound, including the key financial reporting differences that would arise between purchasing 100% of Compound’s shares in one transaction, versus purchasing 80% of
the shares followed by a purchase of the remaining 20% of the shares at a later date.
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