The Graduate School of Business and Entrepreneurship (hereinafter referred to as the “School”) invites students to learn the principles of International Financial Reporting Standards (IFRS) based on ACCA’s DipIFR (Rus.) qualification.

International Financial Reporting Standards (IFRS) is a set of common rules issued by the International Accounting Standards Board (IASB) that provide consistency and transparency in financial statements all over the world. IFRS have allowed to create a common accounting language and specify how companies must maintain and report their accounts, defining types of transactions, and other events with financial impact.

DipIFR (Rus.) study program in Russian allows specialists in the banking and finance fields to develop their knowledge of IFRS. The companies in more than 113 countries (including European Union) make their financial reports that comply with IFRS, and such countries as Australia, Hong Kong and South Africa have already adopted IFRS or equivalents as their local Generally Accepted Accounting Principles (GAAP).

ACCA (Association of Chartered Certified Accountants) is the largest and fastest growing accounting body headquartered in London, UK, which unites professional accountants from all over the world. ACCA offers a wide range of qualifications, among which are ACCA Qualification, Foundations in Accountancy, Diploma in International Financial Reporting, to name a few. These qualifications help accounting and financial graduates and specialists from the whole world to better understand the financial aspects and implications of their professions.

In accordance with the Decree of the President of the Republic of Uzbekistan No ПП-4611 dated February 24, 2020, joint stock companies, commercial banks, insurance companies and other       legal entities, considered as major tax payers, have become obliged since January 1, 2021 to   make their accounting reports based on IFRS and hire up to 3 specialists with qualifications   confirming their knowledge of IFRS. The School’s DipIFR (Rus.) study program therefore is ready   to provide companies and their employees with required knowledge of IFRS and prepare them   for exam.

This program is designed to develop participants’ knowledge and understanding of IFRS. They will also learn how to apply them, as well as the concepts and principles which underpin them.

Upon successful pass of the exam, candidates must be able to:

• understand and explain the basic principles of IFRS;
• apply the necessary international standards to key elements of financial reporting;
• identify and apply the disclosure requirements in connection with the preparation of the financial statements and notes;
• prepare financial statements of individual companies in accordance with specific IFRS and other regulations;
• prepare financial statements of groups of companies (except for statements of cash flows of the group), including subsidiaries, associates and joint ventures.

This qualification is suitable for professional accountants or auditors who work in practice or business, and are qualified according to national accounting standards.

In case you work for an accounting or auditing firm, but do not yet have the required qualifications, you may still be eligible for the exam. In this case, you must meet one of the criteria below:

• be a member of an association of professional accountants and/or auditors, which is a full member of the International Federation of Accountants (IFAC), or
• have relevant higher education qualifying for exemptions from the first four ACCA exams (or a non-IFAC certification of professional accountants and / or auditors, allowing exemptions from the first four ACCA exams) + 2 years of experience in finance accounting or auditing, or
• have 3 years of experience in finance, accounting or auditing, or
• have ACCA Affiliate status, or

have ACCA Certificate in International Financial Reporting + 2 years of experience in finance, accounting or audit.

The modules below are taught based on the study materials prepared by the PWC Academy in Russian (“Учебное пособие АССА ДипИФР»), June, 2021.

Syllabus

The cost of attending the DipIFR (Rus.) program in a face-to-face mode is UZS 5 500 000 per student (incl. all applicable taxes). The program’s duration is 80 hours (2+months).

With more than 10 years of existence on the market, our School has become a home to high-profile professional courses tailored both for junior specialists and leaders of companies and government organizations. We always aim to deliver cutting-edge trainings on actual topics hiring local and international experts in the fields. Our cooperation history includes organizing joint study courses in banking and finance, development and project management with various global universities and organizations, such as United Nations Office for South-South Cooperation, United Nations Development Programme, European School of Management and Technology in Berlin, The London Institute of Banking & Finance, to name a few.

If you would like to study in the DipIFR (Rus.) offered by the School, please click here to fill in the enrolment form.  

Generally, the exams are held twice a year at the ACCA examination centers:

June 11, 2021 – student registration takes place from November 10 to April 5, exam registration - until April 26;

December 10, 2021 - student registration takes place from May 4 to October 11, exam registration - until November 2.

Please note that the dates above are subject to change by ACCA.

More information about the exam registration can be found on https://www.accaglobal.com/russia/ru/qualifications/dipifr-rus/how-to-register.html.

DipIFR (Rus) exam lasts 3 hours and 15 minutes. The passing score of the exam is 50%.

The tasks presented in the exam are designed to test the calculation and analytical skills of the candidate. In addition to the exam time, 10 minutes are added to read the instructions, after 10 minutes the exam will start automatically and count down 3 hours 15 minutes.

The exam consists of 4 questions. The maximum score for each question is 25 points.

The exam consists of the following questions:

• Question 1 involves the preparation of one or more consolidated reports. Often the question includes tasks that must be solved before proceeding directly to the preparation of consolidated reports.
• Question 2 often offers a specific scenario and concerns the selection of an appropriate accounting policy and disclosure on various aspects. In this question, applicants may be asked to comment on the accounting policy chosen by management and determine the most appropriate one, guided by the conditions outlined in the scenario.
• Question 3 usually focuses on the requirements of a specific international financial reporting standard. This question is usually related to both the explanation of the principles underlying the standard and the practical application of those principles.
• Question 4 usually contains a scenario in which candidates are asked a series of questions from management related to financial reporting.

More information about DipIFR (Rus.) exam can be found on the ACCA official website: https://www.accaglobal.com/russia/ru/qualifications/dipifr-rus.html

If you would like to study in the ACCA DipIFR (Rus.) offered by the School, please click here to fill in the enrolment form.