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All listed countries in the European Union are required to prepare consolidated company accounts in compliance with IFRS. IFRS also affects associates and subsidiaries of EU-listed companies, and with many countries around the world moving towards applying IFRS, the impact of financial reporting is significant.

ACCA has long-believed in the importance of international accounting and financial reporting standards in global business, and was the first organisation to offer globally-available online and open-learning qualifications in international financial reporting and auditing. The qualification is intended as a conversion course for professional accountants already qualified or experienced in country specific financial reporting standards.

The diploma programme addresses international financial reporting and first time application of international financial reporting standards.

Syllabus aim

To develop knowledge, understanding and application of International Financial Reporting Standards and the concepts and principles which underpin them.

Objectives

On completion of the Diploma candidates should be able to:

• understand and explain the structure of the international professional and conceptual framework of accounting
• apply relevant financial reporting standards to key elements of financial reports
• Identify and apply disclosure requirements for companies relating to the presentation of financial reports and notes
• prepare financial statements of single entities and account for their key elements complying with specified International Financial Reporting Standards and other related pronouncements
• prepare group financial statements (excluding group cash flow statements) including subsidiaries, associates and joint ventures.

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