Certificate in International Financial Reporting (Cert IFR)

The syllabus

1. The nature and operations of the IASB

  • The origins of the International Accounting Standards Board (IASB®, 'the Board')
  • The structure of the IFRS Foundation
  • International Accounting Standards (IAS® Standards), and International Financial Reporting Standards (IFRS® Standards) that are currently in issue
  • The purpose of financial statements – The Conceptual Framework for Financial Reporting.

2. The status and use of IFRS standards around the world

  • A brief summary of the adoption of International Financial Reporting Standards (IFRS® Standards) in different jurisdictions
  • The growth of the International Accounting Standards Board (IASB®, 'the Board') and IFRS Standards
  • IFRS Standards and small and medium-sized entities.

3. Revenue, presentation and profit

  • IAS 1, Presentation of financial statements
  • IFRS 15, Revenue from contracts with customers
  • IAS 8, Accounting policies, changes in accounting estimates and errors.

4. Accounting for non-current assets

  • IAS 16 Property, Plant and Equipment
  • IAS 40 Investment Property
  • IAS 23 Borrowing Costs
  • IFRS 5 Non-current Assets Held for Sale and Discontinued Operations

5. Accounting for assets, impairments and grants

  • IAS 38 Intangible Assets
  • IAS 36 Impairment of Assets
  • IAS 20 Accounting for Government Grants and Disclosure of Government Assistance
  • IAS 2 Inventories

6. Accounting for leases and specialised assets

  • IFRS 16 Leases
  • IAS 41 Agriculture
  • IFRS 5 Exploration and Evaluation of Mineral Resources

7. Accounting for financial instruments

  • IAS 32 Financial Instruments: Presentation
  • IFRS 9 Financial Instruments
  • IFRS 7 Financial Instruments: Disclosures
  • IFRS 13 Fair Value Measurement
  • IFRS 4 and IFRS 17 Insurance Contracts

8. Accounting for liabilities

  • IAS 37 Provisions, Contingent Liabilities and Contingent Assets
  • IAS 19 Employee Benefits
  • IAS 12 Income Taxes
  • IFRS 2 Share-based Payment

9. Group accounting – part 1

  • IFRS 10 Consolidated Financial Statements
  • IAS 27 Separate Financial Statements
  • IFRS 3 Business Combinations

10. Group accounting – part 2

  • IFRS 11 Joint Arrangements
  • IAS 28 Investments in Associates and Joint Ventures
  • IFRS 12 Disclosure of Interests in Other Entities
  • IAS 21 The Effects of Changes in Foreign Exchange Rates
  • IAS 29 Financial Reporting in Hyperinflationary Economies

11. Disclosure and other Standards

  • IAS 7 Statement of Cash Flows
  • IFRS 8 Operating Segments
  • IAS 24 Related Party Disclosures
  • IAS 33 Earnings Per Share
  • IAS 34 Interim Financial Reporting
  • IAS 10 Events after the Reporting Period
  • IFRS 1 First-time Adoption of IFRS

12. Principal differences between IFRS Standards and UK GAAP

13. Current issues in IFRS Standards

  • Convergence of IFRS Standards with US GAAP
  • Convergence of IFRS Standards with UK GAAP
  • The work plan of the International Accounting Standards Board

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Information on syllabus and materials updates and assessment

ACCA reserves the right to examine anything contained within the syllabus of the Certificate. This includes knowledge, techniques, principles, theories and concepts as specified in the syllabus and in the examinable documents contained within the syllabuses.

We update the materials, the syllabus and the examinable documents once a year to indicate which regulations and legislation could potentially be assessed. The updated syllabuses, examinable documents, materials and assessments are uploaded on the ACCA website in or around 1 April each year.

Regulation issued or legislation passed on or before 31 December annually will be assessed within the certificates from early in April until 31 March of the following year.

Regulation issued or legislation passed in accordance with the above dates may be examinable even if the effective date is in the future. The term 'issued' or 'passed' relates to when regulation or legislation has been formally approved. The term 'effective' relates to when regulation or legislation must be applied to entity transactions and business practices.

The syllabus and materials offer more detailed guidance on the depth and level at which examinable documents will be assessed. The study guide should therefore be read in conjunction with the syllabus and the examinable documents listed within the relevant syllabus.