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FAQs: IFRSs and financial reporting learning programmes and qualifications

Frequently asked questions about our IFRSs and financial reporting programmes and qualifications.

General enquiries

Who are the programmes designed for?
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The programmes are suitable for all who use or prepare financial statements. There are no entry requirements for any of the online learning and assessment programmes.
How many programmes are there?
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IFRS learning and assessment programme  Gain an overview of all current international standards 
IFRS for SMEs learning and assessment programme  Prepare for the changes ahead in financial reporting for smaller businesses. 
Do I need a specific qualification to study for the programmes?
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There are no entry requirements for the IFRSs learning and assessment programme and the IFRS for SMEs learning and assessment programme.
How much do the programmes cost?
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IFRSs learning and assessment programme

  • £450 + postage, packing and VAT (includes hard copy study manual, online learning materials and online assessment).
  • 30% discount for ICAEW members and current ACA students.
  • Discounts on multiple purchases are also available and will automatically be applied.

IFRS for SMEs learning and assessment programme

  • £175 (includes online learning materials and online assessment)
  • £140 (online learning materials only)
  • £100 (online assessment only)
  • 20% discount for ICAEW members and current ACA students
  • Discounts on multiple purchases are also available and will automatically be applied

Prices are in GBP sterling.

Do I qualify for a discount?
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IFRSs learning and assessment programme

  • ICAEW members, current ACA students and Financial Reporting Faculty members receive a 30% discount.

IFRS for SMEs learning and assessment programme

  • ICAEW members and current ACA students receive a 20% discount.

To activate a discount, please enter your member number or student registration number when ordering.

Discounts on multiple purchases are also available and will automatically be applied.

Where can I order the programmes?
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You can order the IFRSs learning and assessment programme and the IFRS for SMEs learning and assessment programme at Gillards.
How long will a programme take me to complete?
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On average, we recommend the following number of hours for each programme. Study time may vary depending on your level of prior knowledge and experience.

Programme  Hours
IFRS learning and assessment programme  70 
IFRS for SMEs learning and assessment programme  25-30 


How will I learn?
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When you purchase the IFRSs learning and assessment programme or the IFRS for SMEs learning and assessment programme you will be sent your log in details to access the interactive online learning environment. If you purchase the IFRSs learning and assessment programme, you will also receive your learning manual by post.

How do I access the interactive online learning materials?
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Full instructions and your unique access code will be emailed to you once you have placed your order.
What system requirements do I need to access the programmes?
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The minimum system requirements to run the programme are:

  • Windows 7 operating system
  • IE8, IE9, IE10, IE11 or the latest versions of Firefox/Chrome
  • Processor: 1.4 GHz 32-bit (x86) or 64-bit (x64)
  • Memory (RAM) 2GB or higher
  • 25% Free Hard Disk Space
  • Screen resolution: 1024x768 or higher
  • Flash player: Version 11.2 or higher
  • Adobe Reader: Version 7 or higher
 
Can I study for the IFRSs and financial reporting learning programmes and qualifications outside the UK?
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Yes the programmes are available worldwide.
How do the programmes add to the knowledge that I would gain by only studying the standards?
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The programmes give an overview of the international standards in a user friendly way. They take the accounting-speak out of the standards and put them into general business language. The programmes also include examples and extracts to ensure maximum understanding of the standards.
Are the IFRSs programmes offered by ICAEW endorsed by the IASB?
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The IASB is aware that a number of educational institutions and professional accountancy organisations are offering courses on IFRS. The IASB does not review the content of such courses, and is not able to recommend courses, or to comment on the quality of any courses offered.
Are credits awarded for prior learning?
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There are no credits for prior learning available for any of our IFRSs and financial reporting qualifications and programmes.

What can I do to keep up to date with financial reporting once I have completed the programme?
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The ICAEW Financial Reporting Faculty offers insight into policy issues and provides a strong, flexible network of knowledge and support through regular online factsheets, e-bulletins, its standards tracker and exclusive online forum.

Keep up to date with changes in financial reporting by subscribing today.

Online assessment

How do I access the assessment?
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The assessment is located within the interactive online learning environment. It is available using any computer capable of accessing the internet, so it can be taken any time, anywhere.
How long is the assessment?
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  • IFRSs learning and assessment programme and Cert IPSFR: 120 minutes

  • IFRS for SMEs programme assessment: 80 minutes

  • FRSSE learning and assessment programme: 60 minutes

How many questions will I be asked in the assessment?
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IFRSs learning and assessment programme  60 multiple-choice questions 
Cert IPSFR  60 multiple-choice questions 
IFRS for SMEs programme  40 multiple-choice questions 
FRSSE learning and assessment programme  30 multiple-choice questions 
Is each assessment different?
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Yes. The assessments use a bank of many hundreds of questions which are selected at random in relation to the standards.

How can I practise for the assessment?
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After each learning module you can undertake a module test, this will help you prepare for the final assessment.
What is the pass mark?
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IFRS Learning and Assessment programme  60% 
IFRS for SMEs  55% 
FRSSE learning and assessment programme  60% 
Certificate in International Public Sector Financial Reporting  60% 
When will I receive my results?
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Once you submit your answers, your assessment result will appear immediately.
Is there a formal certificate or certificate of completion?
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When you pass the online assessment, you can download and print your certificate immediately, this demonstrates successful completion of the programme.

ICAEW Diploma in IFRSs assessment

Where can I sit the exam?
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You can sit the final exam in London or New York.

Where possible, the final exam can be arranged in countries other than those stated above. ICAEW / BPP will do their best to accommodate such requests, however, it is important to note that due to factors outside of our control such requests may not always be possible to facilitate. Where exams can be arranged there will be a standard administration charge of £150 / €180, this charge will be in addition to any charges for venue hire and invigilation which will need to be considered on an individual basis. Please be aware that requests should be received at the commencement of the course and can take up to two weeks to process. If the request can be accommodated full details (including all costs involved) will be confirmed to you in writing. Unfortunately any requests received within six weeks of the examination will not be considered.

How will I be assessed?
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The ICAEW Diploma in IFRSs is assessed using a combination of course assignments and an open book final exam.
What is the length of the exam?
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The written exam is three hours.
How long will it take me to prepare for each assignment?
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Assuming you have following the study plan set out by the tutors, each assignment will take approximately 3 – 4 hours to complete.
Can I defer the assessment after I’ve applied?
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The full terms and conditions for deferrals are listed in the Regulations section of the website.
What do I need to do if I fail an assignment or the assessment?
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You can resit the exam and any assignments with the final Diploma in IFRSs session. This is due to start in February 2014 with the final exam taking place on 14 July. All delegates who have previously registered for the diploma and are still within the regulations can resit any assignments or the final exam with this final group in order to complete the diploma.

What is the cost to resubmit my application should I fail?
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The cost of each resubmission is £225 + VAT for each assignment and £400 for the assessment

If you would like any further information, please call us on +44 (0)1908 248 250 or email ifrsdiploma@icaew.com