DIPLOMA IN INTERNATIONAL FINANCIAL REPORTING

687 Pages·2012·5.89 MB·English

ATC International became a part of Becker
Professional Education in 2011. ATC International
has 20 years of experience providing lectures
and learning tools for ACCA Professional
Qualifications. Together, Becker Professional
Education and ATC International offer DipIFR
candidates high quality study materials to maximize
® their chances of success.

2013 EDITION | Study System
ACCA
DIPLOMA IN INTERNATIONAL
FINANCIAL REPORTING
In 2011 Becker Professional Education, a global leader in professional education, acquired ATC
International. ATC International has been developing study materials for ACCA Professional Qualifications
for 20 years, and thousands of candidates have succeeded in their professional examinations using ATC
International’s materials and through its Platinum and Gold ALP training centres in Central and Eastern
Europe and Central Asia.*
Becker Professional Education – ATC International has been awarded ACCA Approved Learning Partner
- content Gold Status for the Diploma in International Financial Reporting (DipIFR) and the ACCA
qualification.
Nearly half a million professionals have advanced their careers through Becker Professional Education's
courses. Throughout its more than 50 year history, Becker has earned a strong track record of student
success through world-class teaching, curriculum and learning tools.
Together with ATC International, we provide a single destination for individuals and companies in need of
global accounting certifications and continuing professional education.
*Platinum – Moscow, Russia and Kiev, Ukraine. Gold – Almaty, Kazakhstan
BECKER PROFESSIONAL EDUCATION’S DIPIFR STUDY MATERIALS
All of Becker’s materials are authored by experienced IFRS specialists and are used in the delivery of
classroom courses.
Study System*: Provides comprehensive coverage of the core syllabus areas and is designed to be
used both as a reference text and as part of integrated study to provide you with the knowledge, skill
and confidence to succeed in your DipIFR examinations. It also includes a bank of practice questions
relating to each topic covered.
Revision Question Bank*: Exam style and standard questions with model answers to give guidance
in final preparation.
* ACCA Gold Approved Learning Partner – content
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ACCA Professional Diploma in
International Financial Reporting

For Examinations from June 2013

®
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ACCA Professional Diploma in
International Financial Reporting

Technical Editor
Phil Bradbury

Accountancy Tuition Centre (International Holdings) Limited
16 Elmtree Road
Teddington TW11 8ST
Telephone: [phone]
E-mail: [email protected]
Internet: http://www.atc-global.com
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No responsibility for loss occasioned to any person acting or refraining from action as a result of any
material in this publication can be accepted by the author, editor or publisher.
This training material has been published and prepared by Accountancy Tuition Centre (International
Holdings) Limited:
16 Elmtree Road
Teddington
TW11 8ST
United Kingdom.
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CONTENTS
Session Page
Introduction (vii)
Syllabus (viii)
Study guide (xii)
Examinable documents (xvii)
Introduction
1 Introduction to International Financial Reporting Standards 0101
2 Conceptual Framework for Financial Reporting 0201
3 IAS 1 Presentation of Financial Statements 0301
4 IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors 0401
Income
5 IAS 18 Revenue 0501
6 IAS 11 Construction Contracts 0601
Assets
7 IAS 2 Inventories 0701
8 IAS 16 Property, Plant and Equipment 0801
9 IAS 20 Accounting for Government Grants and Disclosure of
Government Assistance 0901
10 IAS 23 Borrowing Costs 1001
11 IAS 17 Leases 1101
12 IAS 38 Intangible Assets 1201
13 IAS 40 Investment Properties 1301
14 IAS 41 Agriculture 1401
15 IAS 36 Impairment of Assets 1501
16 IFRS 6 Exploration for and Evaluation of Mineral Resources 1601

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CONTENTS
Session Page
Liabilities
17 IAS 37 Provisions, Contingent Liabilities and Contingent Assets 1701
18 IAS 19 Employee Benefits 1801
19 IFRS 2 Share-based Payment 1901
20 IAS 12 Income Taxes 2001
21 Financial Instruments 2101
Group accounts
22 Regulatory framework 2201
23 Consolidated statement of financial position 2301
24 Further adjustments 2401
25 Consolidated statement of comprehensive income 2501
26 Associates and joint arrangements 2601
27 IAS 21 The Effects of Changes in Foreign Exchange Rates 2701
Disclosure and analysis
28 IAS 33 Earnings per Share 2801
29 IFRS 8 Operating Segments 2901
30 IFRS 5 Non-Current Assets Held for Sale 3001
31 IAS 10 Events After the Reporting Period 3101
32 IAS 24 Related Party Disclosure 3201
33 IAS 34 Interim Financial Reporting 3301
34 IFRS 1 First-time Adoption of International Financial Reporting Standards 3401
35 IFRS for Small and Medium-sized Entities 3501
Index 3601

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SYLLABUS
Introduction
This Study System is specifically written for the ACCA’s Diploma in International Financial
Reporting (DipIFR). This Diploma is designed to develop knowledge of IFRSs – providing an
understanding of the concepts and principles which underpin them, and their application in the
international marketplace. Together with the Question Bank, this volume provides
comprehensive coverage of the syllabus and is designed to be used both as a reference text and as
an integral part of your studies to provide you with the knowledge, skill and confidence to
succeed in your Diploma examination.
About the author: Phil Bradbury is ATC International’s lead tutor in international
financial reporting and has more than 10 years’ experience in delivering ACCA exam-
based training.
How to use this Study System
You should first read through the syllabus, study guide and approach to examining the
syllabus provided in this session to familiarise you with the content of this paper. The
sessions which follow include:
 An overview diagram at the beginning of each session.
This provides a visual summary of the topics covered in each Session and

how they are related
 The body of knowledge which underpins the syllabus. Features of the text

include:
Definitions Terms are defined as they are introduced.

Illustrations These are to be read as part of the text. Any
solutions to numerical illustrations follow on
immediately.
Worked examples Solutions are provided with additional explanations.

Activities These should be attempted using the proforma
solution provided (where applicable).

Commentaries These provide additional information.

Key points Attention is drawn to fundamental rules and

summary underlying concepts and principles is a summary at
the end of each session.
 Focus These are the learning outcomes relevant to the

session, as published in ACCA’s Study Guide.
 Example solutions are presented at the end of each session.
A bank of practice questions is contained in the Study Question Bank provided. These
are linked to the topics of each session and should be attempted after studying each
session.
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