The Diploma in International Financial Reporting (DipIFR) examiner reports are one of the most useful resources for understanding where students lose marks. Across multiple sittings, some recurring mistakes show up consistently. Students preparing for the upcoming examination can strengthen their concepts and application skills through a structured DipIFR preparation course focused on exam-oriented IFRS learning and practical application technique What the Examiner Really Wants A professional analysis of the DipIFR Examiner’s Reports — synthesised for students and teachers preparing for the upcoming examination. Key Findings: Students who understand the standards but fail to apply them to the specific scenario score far below their potential. After analysing the recent examiner’s reports, the patterns are clear, consistent and mistakes can be entirely avoided. The Examination pattern - Which does not change The DipIFR examination has a fixed pattern. Understanding this structure is ...

  Background In previous blog we had seen what property, plant and equipment (PPE) is and its recognition and initial measurement principles under International Financial Reporting Standards (IFRS) as per IAS 16 – PPE. In this blog we will understand accounting for an equally important resource or asset for a business, however, which does not have physical substance, called as intangible asset. Intangible assets cannot be seen or touched because they lack physical substance for e.g. brands, copyrights, patents, trademarks, trade names, Customer relations etc. Intangible assets are crucial for businesses in some sectors because they provide competitive advantage, innovative capabilities and long-term value, in the business.   IAS 38 – Intangible assets under IFRS framework  provides the detailed accounting for such intangible resources. It provides in depth guidance on the topics like which resources can be considered as intangible assets (IA), when entity is eligible...