Dip IFRS Exam Prep: Which Standards Are Tested Most and How
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Sai Manikanta Pedamallu
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Dip IFRS Exam Prep: Which Standards Are Tested Most and How
By Sai Manikanta Pedamallu (ACCA, CMA US, CSCA US, CGMA, ACMA, Dip IFRS, M.Com, MBA, MA)
Lead Instructor, Global Fin X | www.globalfinx.in/manikanta
The Pass Rates, Verified
ACCA publishes pass rates by session. These are the actual figures.
| Session | Pass rate |
|---|---|
| Jun 2026 | 42% |
| Dec 2025 | 46% |
| Jun 2025 | 44% |
| Dec 2024 | 41% |
| Jun 2024 | 44% |
| Dec 2023 | 35% |
| Jun 2023 | 43% |
| Dec 2022 | 41% |
| Jun 2022 | 45% |
| Dec 2021 | 39% |
The average across the last ten sittings is 42 per cent. Roughly six candidates in ten do not pass.
There is a longer-run pattern worth knowing. Pass rates were materially higher historically: 67 per cent in December 2007, 60 per cent in December 2018, 55 per cent in June 2019. From December 2019 onward, the figures have sat consistently in the mid-thirties to mid-forties.
Whatever caused that shift, the current position is what matters. This is a demanding examination with a fifty per cent pass mark and a majority failure rate, and anyone planning study time should plan against that rather than against a marketing claim, including one from a training provider.
The Format, From the Official Syllabus
Three hours and fifteen minutes. One hundred marks. Four questions, each worth twenty-five marks. All compulsory. Pass mark fifty per cent.
Most questions contain a mix of computational and discursive elements. The examination is computer-based, and the syllabus explicitly includes employability and technology skills as syllabus area E, covering the ability to interact with question item types, manage digital information, and present responses professionally using the on-screen tools.
The syllabus is unchanged for December 2026 and June 2027. ACCA's study guide confirms no additions, deletions, or amendments for that period.
What Each Question Actually Contains
The syllabus describes the structure of each question specifically. This is the most useful planning information available and it is frequently summarised inaccurately elsewhere.
Question One: Consolidation, Plus Pre-Consolidation Issues
Question 1 involves the preparation of a consolidated financial statement.
The detail that matters: this question will often include issues that need to be addressed before performing the consolidation procedures, generally relating to the financial statements of the parent prior to consolidation.
That is a two-stage question. Before the consolidation itself, there may be an error to correct, a transaction to account for, or a measurement to adjust in the parent's own statements. Candidates who begin consolidating immediately, without addressing the preliminary issues, produce a consolidation built on unadjusted figures.
Question Two: A Scenario, Plus Five Marks of Ethics
Question 2 is usually a scenario raising questions about the appropriate accounting treatment or disclosure of a range of issues. Candidates may be asked to comment on management's chosen accounting treatment and determine a more appropriate one.
This question also contains an ethical and professional component, with a mark ceiling of five marks.
This is worth emphasising because it is easy to miss. Ethics appears in every sitting, it is worth up to five marks, and it is syllabus area A2: appraise and discuss the ethical and professional issues in complying with IFRS Accounting Standards.
Five marks is five per cent of the paper, appearing reliably, on material that requires no computation. Candidates who prepare for it collect those marks; candidates who have not thought about ethics at all frequently do not.
The typical framing is that management has adopted a treatment that is not compliant, and the requirement asks about the accounting and the ethical and professional issues arising. Being able to discuss objectivity, professional competence, the pressure to misstate, and the responsibilities of the preparer is what earns those marks.
Question Three: Usually One Standard, in Depth
Question 3 will usually, though not always, focus on the requirements of one specific IFRS Accounting Standard, and will typically contain a mixture of explanation of the principles underpinning the standard and practical application of those principles.
This is the question where depth matters more than breadth. A candidate with a working familiarity across many standards but genuine depth in none is exposed here.
Question Four: Queries From a Colleague, Rarely Numerical
Question 4 usually consists of a scenario in which the candidate is given a series of queries from a work colleague relating to the financial statements, with the requirement to answer each query. The queries are normally independent of each other.
And the point most candidates do not know: it will be rare for the queries in question four to require a numerical answer.
Twenty-five marks, at the end of the paper, largely written rather than computational, on independent issues.
Three implications follow.
The independence of the queries is a safety feature. Getting one wrong does not affect the others, unlike a consolidation where an early error propagates.
Written explanation is a genuine examinable skill, not a supplement to calculation. A candidate who can calculate fluently but explains poorly will struggle with a quarter of the paper.
Question 4 is a poor place to run out of time, because these are among the most accessible marks in the paper for a well-prepared candidate.
The Excluded Topics
This is the most valuable list in the syllabus and it is routinely overlooked. The following are specifically excluded:
Complex group structures, including sub-subsidiaries, mixed groups, and foreign subsidiaries.
Step acquisitions, partial disposal of subsidiaries, and group reconstructions.
Financial statements of banks and similar financial institutions.
Preparation of statements of cash flow, both single company and consolidated.
Preparation of interim financial statements.
Accounting for insurance entities.
International financial reporting exposure drafts and discussion papers.
The international public sector perspective.
Multi-employer benefit schemes.
Information reflecting the effects of changing prices and financial reporting in hyperinflationary economies.
What this means for this series. Several posts cover material that is not examinable and should be read for professional knowledge only, not for marks:
Post 47's coverage of step acquisitions is excluded, though the goodwill, contingent consideration, and bargain purchase content in that post is fully examinable.
Post 67 on interim financial reporting is excluded.
Posts 73 to 76 on IFRS 17 insurance contracts are excluded.
Post 79 on hyperinflationary economies is excluded.
Post 20 on IFRS 9 in Indian banking is excluded to the extent it deals with bank financial statements.
Cash flow statement preparation is excluded, so Post 7 on IAS 7 should be read for understanding rather than for preparation practice.
Complete disposal of shares in a subsidiary is examinable under syllabus area D5. Partial disposal is not. That distinction is easy to miss and worth holding.
The Syllabus Structure
Five areas, taken directly from the study guide.
A. International sources of authority. The IASB and the regulatory framework, the Conceptual Framework, the ISSB, and fundamental ethical and professional principles.
B. Elements of financial statements. Fifteen sub-areas: revenue recognition; property, plant and equipment; impairment; leases; intangibles and goodwill; inventories; financial instruments; provisions and contingencies; employee benefits; tax; foreign currency; agriculture; share-based payment; exploration and evaluation; and fair value measurement.
C. Presentation and additional disclosures. Nine sub-areas: presentation of the primary statements; earnings per share; events after the reporting period; basis of preparation including accounting policies, estimates and errors; related party disclosures; operating segments; reporting requirements of SMEs; reporting requirements for subsidiaries without public accountability; and sustainability disclosures.
D. Group accounts. Consolidated reports, intra-group adjustments, fair value adjustments, associates and joint arrangements, and complete disposal.
E. Employability and technology skills.
Three items in area C deserve attention because they are commonly overlooked and were underweighted in this series.
C7, SMEs. Candidates should be able to outline the principal considerations in developing standards for SMEs, discuss solutions to the problem of differential financial reporting, and discuss why the IFRS for SMEs Standard does not address certain topics. Post 97 covers this and was wrong to describe it as insignificant.
C8, subsidiaries without public accountability. Identifying and explaining when a subsidiary can apply reduced disclosures in its separate financial statements. This series did not cover it, which is a gap.
C9, sustainability disclosures. Outlining the scope, objectives, and core content of the IFRS Sustainability Disclosure Standards, and discussing the usefulness of disclosures of climate-related risks and opportunities. Area A also requires explaining the purpose and role of the ISSB. This series did not cover it either.
Both C8 and C9 are examinable and neither is covered in the preceding ninety-nine posts. Anyone using this series as their study base needs to source that material separately.
The Standards That Carry the Most Marks
Question 1 guarantees group accounting every sitting. Beyond that, the syllabus weighting and the pattern of past papers point consistently to the same core.
Group accounting, being syllabus area D, worth twenty-five guaranteed marks. Posts 46, 47 (excluding step acquisitions), 49, 50, 51, and 52.
Revenue recognition, area B1, with detailed sub-requirements covering the five-step model, measuring progress, contract costs, principal versus agent, repurchase agreements, bill-and-hold, consignment, variable consideration, and significant financing components. Posts 11, 12, and 13.
Property, plant and equipment, area B2, which also carries borrowing costs, government grants, held for sale, and investment property. Posts 33, 34, 38, 65, and the rewritten Post 35.
Impairment, area B3. Posts 39 and 40.
Leases, area B4, covering both lessee and lessor, exemptions, and sale and leaseback. Posts 27, 28, 29, and 30.
Financial instruments, area B7, including classification, the business model and cash flow tests, compound instruments, derecognition, and hedge accounting. Posts 17, 18, 19, 23, and 24.
Provisions, area B8. Posts 42 and 43.
Employee benefits, area B9. Posts 56 and 57.
Tax, area B10, including current tax, deferred tax, and the general principles of sales taxes. Posts 62 and 63.
Share-based payment, area B13. Posts 59 and 60.
Earnings per share, area C2, with a detailed list of examinable circumstances including bonus issues, rights issues, and dilution. Post 66.
Note that fair value measurement (B15), agriculture (B12), and exploration and evaluation (B14) are each their own syllabus area. They are smaller in scope but they are examinable in their own right, not merely as background. Posts 25, 26, 70, and 71.
Series Index by Examinability
Core, study to full working depth:
Posts 1, 11-13, 17-19, 23-24, 27-30, 33-35, 38-40, 42-43, 46, 47 (excluding step acquisitions), 49-52, 56-57, 59-60, 62-63, 65-66.
Examinable, know thoroughly:
Posts 2-3, 8-9, 25-26, 31, 36-37, 41, 44, 53-54, 64, 69-71, 77, 80-81, 97.
Examinable but narrower:
Posts 4-6 (IFRS 18 presentation), 10, 14-16, 21-22, 32, 45, 55, 58, 61, 68, 72, 84-92.
Not examinable, professional context only:
Posts 7 (cash flow preparation excluded), 20, 47's step acquisition content, 67, 73-76, 79, 93-96, 98-99.
Gaps in this series that are examinable:
Syllabus area C8 on reduced disclosures for subsidiaries without public accountability, and area C9 on sustainability disclosures and the ISSB. Neither is covered in these hundred posts.
A specific warning. Posts 96 and the rewritten Post 35 identify where Ind AS and IFRS diverge. Answer on IFRS, not the Indian treatment. Investment property is the clearest trap: the fair value model is prohibited in India and fully examinable here under area B2k.
The Time Arithmetic, Corrected
One hundred marks in one hundred and ninety-five minutes is 1.95 minutes per mark.
That gives approximately forty-eight minutes per twenty-five-mark question, including reading, planning, and writing.
The syllabus itself makes a point that is easy to skip: time should be taken to ensure that all the information and exam requirements are properly read and understood.
Practical consequences:
A five-mark requirement gets roughly ten minutes. The ethics component in Question 2 is worth up to five marks and should be given that time, not treated as an afterthought.
When a question's time is up, move on. The first marks in any question are the easiest; the last are the hardest.
Question 4 is largely non-numerical. Arriving there with fifteen minutes remaining wastes the most accessible written marks in the paper.
Attempt every requirement. An unattempted requirement scores zero with certainty.
Where Marks Are Lost
Technical gaps are rarely what separates a pass from a fail at this level. Six failures cost more.
Answering a different question. The requirement is specific. Note the verb, the period, and the entity.
Producing computation without explanation, or the reverse. Most questions carry both, and the marks are split. Question 3 explicitly mixes principles and application. Question 4 is largely explanation.
Not stating the principle before applying it. State the standard and the relevant requirement, apply it to the facts, then calculate. The examiner is testing whether you know the requirement, not only the arithmetic.
Restating the scenario. The examiner wrote the facts. Marks come from analysis, not repetition.
Ignoring mark allocation. It signals expected depth. Over-writing low-mark requirements and under-writing high-mark ones costs marks at both ends.
Skipping the ethics component. Up to five marks, every sitting, requiring no calculation.
Study Approach
One hundred to two hundred hours over three to four months is the typical commitment for candidates already working in accounting.
Start past papers early, around week four. This examination tests application under time pressure, and that capability develops only through practice.
Practise on screen. Syllabus area E covers technology and employability skills explicitly: interacting with question item types, managing digital information, and presenting responses using the appropriate tools. These are assessed in the live examination. Practising on paper does not develop them.
Drill Question 1. It is the most predictable twenty-five marks in the paper, and it rewards repetition more than any other area. Remember the pre-consolidation adjustments.
Prepare the ethics component deliberately. It appears every sitting with a five-mark ceiling and it is the most reliably available block of marks for the least preparation.
Do not study excluded topics. Cash flow statements, interim reporting, insurance contracts, hyperinflation, step acquisitions, partial disposals, foreign subsidiaries, and bank financial statements are all outside the syllabus. Time spent on them produces no marks.
The Final Month
Weeks one and two: complete papers under timed conditions, at three hours fifteen minutes, marked honestly.
Week three: targeted revision of weaknesses identified from those papers.
Week four: consolidation drilling and light review.
Do not start new topics, read the standards themselves, or attempt to memorise disclosure requirements at this stage.
Closing the Series
One hundred posts. The IFRS Accounting Standards, the interpretations, the Indian differences, the regulatory environment, and the practice context.
Three things I tried to hold to, and it is worth being honest about how that went.
Accuracy over promotion. Where the qualification does not help, I said so, particularly in Post 93. Where I got something wrong, I corrected it publicly: Post 35 on investment property, corrected in Post 96, and now Post 97 on IFRS for SMEs, corrected here.
Both errors came from the same cause. I relied on secondary sources rather than going to the primary document. The ACCA syllabus and the ICAI carve-out material were both available throughout, and reading them earlier would have prevented both. That is a reasonable lesson for anyone studying this material: go to the standard and the syllabus, not to the summary of them.
Distinguishing IFRS from Ind AS, because conflating them produces wrong answers in the examination and wrong assumptions in practice.
Showing where the standards actually apply, because a standard understood only in the abstract is not understood.
The material is complete, with the two acknowledged gaps in areas C8 and C9. What it cannot substitute for is practice, and practice is what passes this examination.
FAQ
What is the actual pass rate?
Forty-two per cent across the last ten sittings, ranging from 35 to 46 per cent. Historically higher, but consistently in the mid-thirties to mid-forties since late 2019.
How long is the exam?
Three hours and fifteen minutes, for one hundred marks across four compulsory twenty-five-mark questions.
Is ethics examinable?
Yes. Syllabus area A2 covers ethical and professional principles, and Question 2 contains an ethical and professional component with a five-mark ceiling in every sitting.
Are cash flow statements examinable?
No. Preparation of statements of cash flow, both single company and consolidated, is specifically excluded.
Are step acquisitions examinable?
No. Step acquisitions, partial disposals of subsidiaries, and group reconstructions are excluded. Complete disposal of shares in a subsidiary is examinable.
Is IFRS 17 examinable?
No. Accounting for insurance entities is specifically excluded.
Is IFRS for SMEs examinable?
Yes. Syllabus area C7 covers the principal considerations in developing standards for SMEs, solutions to differential reporting, and why the IFRS for SMEs Standard does not address certain topics. My earlier statement in Post 97 that it was not significantly examinable was wrong.
Does Question 4 require calculations?
Rarely. The syllabus states it will be rare for the queries in Question 4 to require a numerical answer.
Enroll with Global Fin X
This series has covered most of the syllabus publicly and at no cost, and it now also documents its own two errors and two coverage gaps. What a structured programme adds is sequencing, timed practice with feedback, examination technique, and the parts of the syllabus these posts do not reach.
If you would rather work independently using these posts alongside ACCA's own syllabus, study guide, and past papers, that is a legitimate route and many candidates pass that way. If you take it, go to ACCA's primary documents rather than to any summary of them, including mine.
Enroll Now: Dip IFRS Programme
Faculty profile: www.globalfinx.in/manikanta
This is Post 100, the final post of the Global Fin X IFRS Series. Previous: IFRS Convergence in India.
Official ACCA resources: the DipIFR syllabus and study guide and published pass rates.