So, September 2014…

I had a thirst for knowledge, I wanted to learn. Having two higher educations (mathematical and economics), I constantly try to learn something new. I have always been attracted to IFRS. Without hesitation, I chose the first courses I came across - a practical course of preparation for DipIFR in one well-known general training center. And immediately a mistake: my goal of studying at the courses was to get acquainted with IFRS, and not to pass the DipIFR exam, and the goal already half determines success / failure.

Further, it turned out that my classmates studied the theory earlier in the theoretical course and it was stated that their lecture notes would be enough to pass the DipIFR. You just need to read them more often. One of my course colleagues did not register for the exam and gave me her lectures to prepare. I diligently read and re-read them, however, some standards were generally ignored by the lecturer for some reason, then I read the primary sources - IFRS themselves. Another mistake: IFRS and DipIFR are two big differences.

In the most practical course of the problem, we solved it this way: we read the condition and analyzed the finished answer, commenting orally - this is a calculation, this is from notes, you can not write this, there is generally an incorrect translation here. Another mistake: you need to prepare for the written exam only in writing. There was also no consolidation algorithm, I got acquainted with it at a free master class from a well-known IFRS coach almost before the exam. I was inspired by KOFP, I liked KOSD less, I didn’t want to know anything about KOIK at all. Another mistake: you need to know the consolidation (both OFP and OSD) and work out more than once, also for a while. We didn't write mock exams - none.

Did I believe that I would pass the exam in December 2014? No.

To June 2015 I prepared in a completely different way. Already in the evening after the exam on 12/09/2014, I started looking for training centers, I did not want to take risks again. On the site, the site found diagrams in free access according to some standards, I really liked the accessibility of presenting complex things. I corrected the notes I had written earlier and immediately ordered the textbook, which I received fairly quickly (as soon as it was edited for the June 2015 exam). I knew what only three half-trained standards cost me. Therefore, I decided not to leave any standard unlearned, whether I like it or not. I wrote down the numbers of all 37 standards tested in the DipIFR exam and crossed them out when I made a summary of the standard for myself. Having visited the training presentation, I first of all liked the teacher: his competence, calm, confident and friendly tone. I was so confused, I just needed support. I was skeptical at first about the webinar form of training, but later I appreciated it. I woke up at 9:59 one morning and within a minute I was ready to go. Due to unforeseen and very sad family circumstances, I missed several webinars, which I then safely watched in recording mode. Classes have always started with the right attitude, now I know for sure that this is important! And after analyzing the theory, together with the teacher, we solved problems from real exams of past years, I finally learned how to structure the solution in a structured way. The exam guide turned out to be a real find - ready-made clear algorithms for all types of tasks that are submitted for the exam. But this is all the visible part of the iceberg, the main and main part of the plan is independent work - PRACTICE, PRACTICE and again PRACTICE. Yes, it was difficult, but sometimes my nerves gave out and I wanted to quit, but all the same, the training was excitingly interesting. We wrote several mock exams, learned how to pre-evaluate our papers, and how to mark them by assessing our chances of winning.

And this time, I was sure that I would pass the exam.

Comparison of two DipIFR exam attempts

Before the exam:

December 2014

Groups of candidates are discussing something, someone is rereading lectures. I wander aimlessly around the hall and tremble with fear. Who am I, what am I doing here? I catch snippets of phrases and do not understand their meaning. Did I take the wrong exam?

June 2015

She found her desk, checked its stability, put the stationery on the corner of the table. Lap of honor around the tables, looked how many of us, nodded to friends. I don’t enter into conversations, I don’t want to waste energy, I still need it. Favorite melodies on the player sound somehow belligerent today. I ate nuts and chocolate. The exam is getting closer. I'm ready to fight! I threw the player to personal belongings around the perimeter. Sat down at the table. Inhale-exhale. With God!

Exam. First 15 minutes.

December 2014

I open the booklet and see the OSD. How? Still waiting for OFP! I'm shocked, I don't like OSD, I don't remember the consolidation algorithm (did I know it at all?). I hang for five minutes, then read on. What's this? Got all three IFRS that I didn't finish my studies! I remember nothing! Everyone around scribbled, what, the main time has already gone?

June 2015

I open the booklet, No. 1 - OFP - there are no emotions, since there are no favorites. I am equally well versed in both OFP and OSD with OIC. I figured that two DCs (more precisely, I’ll calculate the percentage of ownership in regular time) are excellent, we’ll forget about the MDU for now. I read tasks 2-4 diagonally, draw up a plan - in what order I will answer the questions.

Of course, I will start with consolidation, I set a time limit of 1.5 hours. Then No. 4 - Agriculture and IFRS for SMEs (Surprise is such a surprise!) - remember everything that I knew and never return to this issue, then No. 3 - theory and tasks for stock settlements, and finally No. 2 - a collection of tasks on different standards of varying complexity. I have time to write regulatory IFRS and several numerical formulas in the margins. I heard permission to open the notebooks for answers.

Exam. Main time.

December 2014

I started right away with questions 2-4, wrote a little. Writing is difficult, I think about every verbal turn. Here I remember, here I don't remember! Hands are waiting for the commands of the brain, and the brain is in a trance! I jump from one question to another, looking for them all over the notebook. I return to task number 1, I want to write at least a pro forma and count a couple of numbers.

Having squeezed all the information out of myself in 1.5 hours, for the last 1.5 hours I sat and did not know what to do. My head was empty.

June 2015

It started! You never know what you can do till you try! Do not panic! Write, count, look at the clock! You can't write, you can't think! I thought - I lost time, which means points. Therefore, I simply ignored a couple of notes on other components of capital. As a result, the first issue was dealt with in exactly 1 hour. Two counters are spinning in my head - time and points. There are about 20, there are 30 left. Well, in theory, I will fight for every half point! Wrote two sheets of surprise standards in question #4. I carefully described the theory on question No. 3, completed the calculations and did not forget about the explanations. I wrote the answer to question number 2, it was necessary to quickly switch from one sub-question to another.

All is ready! I did all I could! There is still half an hour left before the end of the exam. I didn’t double-check, I was afraid to replace the correct answer with an erroneous one, I just read my work and underlined the key words along the way.

After exam:

December 2014

Already leaving Crocus City Hall, I knew that DipIFR had not passed. But it was only when I realized that I had flunked my exam that I really wanted to pass it. I was not upset, I got angry and on the same day I sketched out my plan to conquer DipIFR.

June 2015

Immediately after the exam, I realized that I had answered question #2c incorrectly, convincing myself and writing that this was a corrective event. Such a shameful mistake on an elementary question! How many points have I lost? All that remained was to surrender to the mercy of the marker. I did my best and come what may!

I knew for sure then that if the second attempt was unsuccessful, I would take DipIFR for the third time. I will not change the goal - I will change the plan of my actions.

My results:

December 2014

Your score for the DipIFR-Rus exam is 30. The exam is NOT PASSED.

At first I thought, what a shame, everything is terrible. And then I thought that everything was not so bad: after all, I scored these 30 points on two questions. And I have every chance to pass DipIFR.

June 2015

Your score for the DipIFR-Rus exam is 82. The exam has been PASSED.

Waking up, I can’t make out the first digit, is it 3 or 5? I wake up my husband, I ask you to read and hear his admiring - 82 !!! I'm in seventh heaven!

I return to the ground and analyze my scores, it feels like I got 55 points for questions 2-4 (I flunked 4 points on the easiest exam question, well, 1 point somewhere else) and for consolidation I was awarded 27 points (a good score when solved consolidations from past exams, rarely scored more than 20. But maybe I'm too strict on my own marker?

Recipe for Success

Is it possible to pass the DipIFR exam on the first try? Quite! I learned from my mistakes and will gladly share them with you.

To pass the DipIFR exam, you need to really want it. You must firmly decide for yourself that you want to pass DipIFR in this particular session and set yourself up for work, draw up your own preparation plan.

When choosing training centers, pay attention to the passing statistics, the training materials provided and, of course, the teacher. Do all your homework and do everything your teacher tells you to do.

Even if you attend the most wonderful courses, you need to spend a huge amount of time on self-preparation - PRACTICE, PRACTICE and again PRACTICE, and so on all the months of preparation.

Do not disregard any standard (from the list of those tested on the exam), albeit with unequal probability, but each of them can appear on the exam - this way you will be insured against any surprises of the examiner.

Make friends with consolidation, learn the consolidation technique used in the exam, it is equally good for GPP and OSD and even OIC. Solving the consolidation problem makes it possible to get a significant part of the exam scores.

Solve the exam tasks of the past sessions, first in a calm mode, closer to the exam - for a while. Be sure to check and mark yourself according to the examiner's answers, sort out the mistakes.

Write at least one real-time mock exam. Just be sure to leave at least a week to work on the bugs.

And finally, the mood with which you go to the exam is important. If you say, "I'll try to pass the exam," then it will just be one of your attempts. If you tell yourself before the exam: “I will definitely pass the exam, I have a good preparation and I will fight for every half a point”, then SUCCESS is guaranteed to you.

On a real exam, don't worry, don't panic, but just try to give your 100%. Write structured and neat, not for yourself, but for the marker. Write even those things that seem obvious to you, so you will not lose easy points. However, try to answer on the merits of the question, achieve an exact hit - they will not give points for water. Watch the time, the complexity of the DipIFR exam is largely due to the time limit for completing all tasks.

I was recently informed by ACCA that I was ranked 5th among all those who took the DipIFR exam (rus) in June 2015, and there were approximately 2,800 candidates. I received great satisfaction from the work done.

I wish you success, victories and high scores!!!

Elena Arshinova, Moscow

The results of the ACCA DipIFR exam (rus) for June 2016

The results of the June ACCA DipIFR exam (rus) 2016 have become known. Its participants throw all their strength, skills and knowledge into solving a large number of tasks, but not everyone copes with them.

Students of the Financial Academy "Active" showed a good percentage of change - 65%. We are proud of the worthy result!

For comparison:

According to ACCA, the share of students who successfully passed the DipIFR exam for June 2016 is 50%

Congratulations to the students of the Financial Academy “Active” on their achievement! We wish you not to slow down and continue to work on your own qualifications in order to achieve your intended career heights.

Testimonials from DipIFR 2016 Exam Participants

Kiryanko Tatiana

The exam is well organized. Everything was on time, conditions were comfortable. The atmosphere is solemn and exciting. Impressions were only positive.
Exam topics: VAT, personal income tax, Profit. In general, the topics are the same. There were no particular difficulties. The practice exam helped. The course is very useful, it is aimed specifically at passing the exam. A very good workout. The teacher Sofya explains everything very correctly, makes the necessary accents. Thank you all very much!

Babykbayeva Salimash

Everything was on time for the exam. Topics: OSD with two daughters, deferred taxes (one whole question). Confused topics: investment with a minus, deferred taxes, financial instruments. But there were no tasks that would not be considered in the course. Did not participate in the trial exam. In the Financial Academy "Active" cool teachers. I especially want to mention Mironova Sophia, she explains well each topic, the process of solving problems. Thank you!

Chekanova Elena

Impressions from the exam are positive. The main topics were personal income tax and VFSS, there were also questions and tasks on VAT, income tax, thin capitalization rules.
Difficulties were questions and their nuances, which were not considered at the webinars. The test exam from the academy helped in terms of more rational use of the time allotted for the exam. Thank you for the opportunity to find out the answers to taxation questions that I have never encountered in practice.

June 2016 DipIFR exam objectives

Before the announcement of the results, the tasks and answers of the exam for June 2016 appeared on the ACCA website. They can be used by those who are just planning to take the DipIFR session (rus) and want to get acquainted with the tasks. According to the participants of the ACCA DipIFR(rus) 2016 exam, the exam tasks were on the following topics:

• personal income tax and VFSS, fixed assets;
• temporary deductible differences, VAT, income tax;
• thin capitalization rules;
• OSD with two subsidiaries and KOIC;
• calculation of goodwill by two methods, options.

DipIFR exam preparation courses 2016

And for everyone who wants to thoroughly prepare and successfully pass the ACCA DipIFR (rus) exam, we remind you of the online courses from the Aktiv Financial Academy:

1. “DipIFR.Guarantee” is a comprehensive training program for obtaining the prestigious ACCA DipIFR(rus) qualification. A phased transition from simple to complex will allow you to cover the theoretical study of IFRS from scratch, their application in practice and intensive study of the tasks and tasks of the exam.
2. “IFRS:Basis + Practicum (DipIFR)” is a comprehensive preparation for passing one of the most difficult exams for obtaining the ACCA DipIFR (rus) qualification, which is suitable even for those who have just started mastering IFRS. The course consists of two steps: Step 1. “IFRS. Basis” and Step 2. “ACCA DipIFR(rus)”. DipIFR (Rus), ACCA Qualification level teachers will provide an excellent theoretical base and practical skills for passing the exam.

Find out how these courses work.
Apply now and get free access to the 1st lesson!

Sign up for a suitable course from the Aktiv Financial Academy and use the opportunity to prepare for one of the most difficult exams online!

It is hardly possible to predict what will appear on the Dipifre exam. All we can try to do is to analyze past exams and look for some patterns in how the examiner chooses topics for problems. I invite everyone to do this together: all those who are just preparing for the exam and those who have already passed it. In the article, I created several surveys, with the help of which, I hope, we will be able to make a people's prediction for the exam. In the article itself, of course, I will express my opinion, but I really hope to use the collective mind of the site's readers.

Consolidation question - will there be OSD?

The key to Dipifre is the consolidation report. Many would like to know exactly what will happen in the June session - OSD or OFP? Look at the table below, the following abbreviations are used in it: MK - parent company, DC - subsidiary, AK - associate, SD - joint activity. I brought exams in it only from June 2011, when the Dipif format became what it is now - 40 points for consolidation (until June 2011, 1 question was 25 points).

Table 1.

Exam	What report	Who sells
JUNE 2016	?	?
December 2015	OFP, DC+DC	DK sells
June 2015	OFP, DC+DC	MK sells
December 2014	OSD+OIC, DC+DC	MK sells
June 2014	OSD, DC+DC	MK sells
December 2013	OFP, DC+SD	MK sells
June 2013	OFP, DC+AC	MK sells
December 2012	OSD, DC+SD	MK sells
June 2012	OFP, DC+SD	MK sells
December 2011	OFP, DC+AC	MK sells
June 2011	OSD+OIC, DC+AC	DK sells

What will be the consolidated report for Dipifre in June 2016?

• OSD with DECs (67%, 280 Votes)
• OSD without DEC (24%, 100 Votes)
• OFP (9%, 39 Votes)

Of course, the answer is that there must be an SDO, since our examiner Paul Robins never gave the same report three exams in a row. The only exception is two OSDs in June and December 2009, after which there was also an OSD for the Russian audience in March. At that time, this left many behind, as everyone was learning the consolidated balance sheet. But that case has nothing to do with the current situation, since then the March exams were only in Russia, and Paul Robins allowed himself all sorts of experiments on Russian students. Therefore, yes, the probability of the occurrence of OSD in June 2016 is approaching (although not equal!) To 100%.

This table also shows that during the two years 2014 and 2015, Robins proposes a consolidated statement with two subsidiaries. Although before that, since March 2010, I tested the equity method. This method is currently used to account for associates and joint ventures.

To be honest, I don't know when the examiner will remember about . It would seem that it is time, I predicted that it would be in December 2015. It is not clear what the stubborn testing of two subsidiaries is connected with, there is little logic here, since one subsidiary is enough to test knowledge of the calculation of net assets and goodwill. I am inclined to believe that in June 2016 there will still be either a joint venture or an associate. Robins needs to complicate the issue of consolidation, as everyone will expect the appearance of the OSD and prepare hard for it. He already did this - in June 2014, after two OFPs in a row, an OSD appeared with two subsidiaries (then it was unexpected) and with many complications.

What will be in the consolidation in June 2016?

• Subsidiary and Associate (58%, 194 Votes)
• Subsidiaries and joint activities (30%, 99 Votes)
• Two subsidiaries (12%, 41 Votes)

Who will sell stocks to whom in the June consolidation is not so important. I won’t be surprised if in June 2016 the sale of reserves again goes from the subsidiary to the parent company. Just to scare the exam takers, because everyone is used to the sale going from the parent company to the subsidiary. Therefore, do not forget to learn the reverse order.

What IFRS will be in question 3?

An important question is the third question of the Dipifre exam. As a rule, Robins tests some one standard in it - several (5-6) points for pure theory (definitions, recognition criteria, for example, five steps of revenue recognition) and two tasks for applying the standard.

If you look at the exam program, you can see that some of the standards are not suitable for testing for 20 points - they are too simple. Of course, you can come up with tasks for 20 points according to these standards, but this will greatly simplify the exam as a whole. Thus, IFRS 2 Inventories, IFRS 8 Accounting Policies, IFRS 10 Events after the Balance Sheet Date, IFRS 20 Government Grants, IFRS 24 Related Parties, IFRS 34 Interim Reporting, IFRS IFRS 1 First-time Adoption IFRS, IFRS 8 IFRS 8 Operating Segments - we remove all these standards from the candidates for the 20-point question.

The remaining standards after elimination are shown in Table 2:

Table 2.

Standard	Name	Exam
IFRS 12	income tax	DEC 2013, JUNE 2014
IFRS 16	fixed assets	was not on 20 points
IAS 17	Rent	was not on 20 points
IAS 19	Remuneration (pensions)	DECEMBER 2011
IAS 33	Earnings per share	was not on 20 points
IAS 36	Impairment of assets	was not on 20 points
IAS 37	Estimated liabilities	MARCH 2010
IAS 38	Intangible assets	JUNE 2011
IAS 40	investment property	was not on 20 points
IAS 41	Agriculture	was not on 20 points
IFRS 2		JUNE 2015
IFRS 3	Business combination	DECEMBER 2014
IFRS 5		JUNE 2012
IFRS 6	Mineral exploration	was not on 20 points
IFRS 9	Financial instruments	was not on 20 points
IFRS 10	Consolidated reporting	was not on 20 points
IFRS 13	fair value	was not on 20 points
IFRS 15	Revenue	DECEMBER 2015

Some of these standards have already appeared in the third question for 20 points. In table 3, such standards are arranged in chronological order for clarity:

Table 3

Standard	Name	Exam
IFRS 15	Revenue	DECEMBER 2015
IFRS 2	Equity payments	JUNE 2015
IFRS 3	Business combination	DECEMBER 2014
IFRS 12	income tax	JUNE 2014
IFRS 12	income tax	DECEMBER 2013
IAS 18	Revenue	JUNE 2013
IAS 18	Revenue	DECEMBER 2012
IFRS 5	Non-current assets for sale	JUNE 2012
IAS 19	Remuneration (pensions)	DECEMBER 2011
IAS 38	Intangible assets	JUNE 2011

IFRS 18 is an old revenue standard that is no longer tested for Dipif, so it has been crossed out.

What will Paul Robins choose for June 2016? It may be some standard from table 3, which was already in the third question. For example, IAS 38 "Intangible Assets" or IAS 19 "Employee Benefits", since these standards were in 2011. I think there is a good chance of repeating the new IFRS 15 revenue standard by 20 points. The examiner has already done such tricks (two times in a row the same standard) with IFRS 18 and IFRS 12. IFRS 15 is a voluminous standard, and you can find tasks in it to even test it three times in a row. and - two articles with examples from the new revenue standard are available on this site.

On the other hand, Paul Robins can choose one of the standards that have never been tested for 20 points. In table 2, next to them is the note "was not on 20 points." Of these, we can distinguish:

1. IFRS IFRS 9 Financial Instruments
2. IFRS 16 Property, plant and equipment.

The first two standards from this list, in my opinion, are suitable to finally appear on 20 points in the third question. Here you can do calculation tasks and it is interesting to test the theory.

IAS 36 has not been tested by Paul Robins, except for goodwill impairment targets, which occasionally occur. Therefore, this standard is a candidate for appearing in question 4 in the light of the new tradition of testing standards there that were not previously submitted for examination. So it was in June 2015 - IFRS 41 "Agriculture" and the standard for small enterprises by 10 points each, so it was in December 2015 - IFRS 6 "Exploration for minerals" also by 10 points.

IFRS 16 Property, Plant and Equipment is also a candidate for question 3, although, in my opinion, Robins already considers this standard as simple and therefore has practically stopped testing it in the way that he used to. However, this may also be a lull before suggesting this standard as a third question for 20 points.

• IFRS 15 Revenue (34%, 103 Votes)
• IFRS 9 Financial Instruments (25%, 77 Votes)
• IAS 17 Leases (19%, 58 Votes)
• IAS 36 Impairment of Assets (7%, 21 Votes)
• IAS 12 Income Taxes (3%, 10 Votes)
• IAS 38 Intangible Assets (3%, 9 Votes)
• Question 3 will have tasks according to different standards (3%, 8 Votes)
• IFRS 16 Property, Plant and Equipment (3%, 8 Votes)
• IFRS 5 Non-current assets available for sale (2%, 5 Votes)
• IAS 37 Provisions (1%, 4 Votes)
• Other (1%, 2 Votes)

What standards might appear in the second and fourth questions of the exam?

Here the examiner has a large selection of standards. Those that were discussed above, plus the rest that we excluded from the third question. What will Paul Robins want to do for test takers who are taking the exam in June 2016? In 2015, there is a noticeable tendency to include in the exam those standards that have not been tested before or were rarely tested:

• IFRS 41 "Agriculture" and the standard for small enterprises in June 2015
• IFRS 40 Investment Property and IFRS 6 Mineral Exploration in December 2015

If this trend continues, we can expect IFRS 33 "Earnings per share" (was earlier in December 2010), IFRS 34 "Interim reporting", IFRS 20 "Government grants" (intuitively it seems unlikely), IFRS 1 "First time application IFRS” (was in December 2011), IFRS 8 “Accounting Policies” or IFRS 10 “Events after the reporting date”.

The last two standards in the list of IFRS 8 and 10 have always been tested in conjunction with other standards in calculation tasks, but they can also be used to make excellent tasks for a completely theoretical fourth question. In December 2014 and in 2015, the fourth question was structured in the same way: the Managing Director attended a seminar and asked for clarifications regarding 2-3 standards. All standards from the list above, not only IFRS 8 and 10, are well suited to be in this role.

In addition, in the fourth question, Paul Robins can repeat something that has already happened and happened not so long ago. For example, IAS 24 "Related Parties" or.

What will happen in the second question, one can only guess. , the same IFRS 33 “Earnings per share”, and calculation tasks for IFRS 5 and IFRS 6, which were tested in December only in part of the theory.

And yes, you have to learn. This standard appears in the theoretical part of the exam or in the note to consolidate 11 (eleven!) sessions in a row. The twelfth time is likely to take place, I do not rule it out, rather, I expect it. It might be a cash-out sale for a few points. It is imperative to learn this standard, because even 4-5 points will never be superfluous.

In the survey below, you can select up to 5 standards from the list provided. For greater reliability of the results, it is advisable not to do this at random, but to turn to your intuition for help.

Popular vote results

90% of the participants believe that there will be an OSD, with two thirds expecting it together with the OIC. Yes, most likely it will be an OSD, although just in case, I would advise you to do one question with the consolidation of GPP before the exam. After all, it is in the consolidation that the foundation for passing the entire exam is laid. What if Robins changes himself and gives a consolidated OFP for the third time in a row? Is there a guarantee that this won't happen?

90% of survey participants believe that in June there will be an equity method: either an associate or a joint venture. I voted for the option of two subsidiaries, assuming that there will be an OSD with an OIC. After all, an OIC with two daughters is more difficult than with a subsidiary and an associated company. On the other hand, such a task was in December 2014 and will the examiner repeat it? Therefore, I agree that the equity method in June 2016 is more likely.

In voting on the standard, two leaders were determined by 20 points: these are IFRS 15 “Revenue” and IFRS 9 “Financial Instruments”. Slightly behind IFRS 17 "Leases", gaining almost a fifth of the votes of the survey participants. I voted for Revenue, although Financial Instruments for 20 points also seems very likely. One thing can be said - these two standards should be worked out better than others. If only because even if not for 20 points, then some task on these topics simply cannot fail to appear on the exam. If it's IFRS 9, then Robins will probably want to ask about the classification of financial assets and financial liabilities, as well as new rules for the impairment of financial assets.

Among other standards expected at the June 2016 exam, IAS 33, Earnings per Share, leads the way. I understand that this standard is the most expected in the Dipifre training centers. I did not vote for him, it seems to me that the probability of his appearance this time is not too high. But I may be wrong. You should expect tasks for revenue and financial instruments if they do not appear in the question for 20 points. For question 4, which is now completely theoretical, if I were Paul Robins, I would take IFRS 40 Investment Property and IFRS 13 Fair Value. Because according to these standards there is something to write, and there is something to write for 10 points. Although this time the format of the fourth question may be different - some calculation tasks may appear there again. IFRS 1 "First-time Adoption of IFRS" and IFRS 34 "Interim Reporting", which occupy one of the last places in the people's rating of expectations, I would not exclude from preparation. If in June 2014 a question on IAS 24 “Related Parties” appeared, then this means that there are no obstacles for Paul Robins to choose any standard for putting it on the exam. Therefore, according to these standards, it is necessary to make at least a small cheat sheet (of course, for memorization, and not for use in the exam!)

And yes, there will be options. Or in the notes to the consolidation, or for the umpteenth time in theoretical matters. Repeat them.

Good luck to everyone on the exam!

I put the word “prediction” in quotation marks, since it is impossible to accurately predict the topics on the Dipifre exam. But it is always interesting to speculate and read other people's thoughts on this topic. In this article, I will give some generalizations that caught my eye when analyzing the Dipifre exams of past years. And, of course, I would very much like to know the opinion of all of you: teachers, course participants and all those who decide to independently prepare for the December session. Please vote.

What will be in the consolidation this time - OSD or OFP?

A big request to those who studied in the spring or are now studying remotely at the Aktiv Financial Academy, contact me in the comments. All comments are moderated, so they will not be published, only I will read them.

Let's try to continue the summary table on the consolidation issue. The following abbreviations are used in it: MK - parent company, DK - subsidiary, AK - associated company, SD - joint activity. I brought exams in it only from June 2011, when the Dipif format became what it is now - 40 points for consolidation (until June 2011, 1 question was worth 25 points).

Table 1.

Exam	What report	What a group
DECEMBER 2016	?	?
June 2016	OSD+OIC	DC+DC
December 2015	OFP	DC+DC
June 2015	OFP	DC+DC
December 2014	OSD+OIC	DC+DC
June 2014	OSD	DC+DC
December 2013	OFP	DC+SD
June 2013	OFP	DC+AC
December 2012	OSD	DC+SD
June 2012	OFP	DC+SD
December 2011	OFP	DC+AC
June 2011	OSD+OIC	DC+AC

Starting from 2013, Paul Robins preferred to give two identical reports in a calendar year: GPP in 2013, OSD in 2014, GPP in 2015. If you put yourself in the place of an examiner, then, of course, it is more convenient to prepare two exams at once at the beginning of the year, and then study other things. A controversial assumption, but nevertheless, this can explain the fact that in one year there were either OFP or OSD.

One more observation: in the December question on consolidation in both 2014 and 2015, some conditions from the previous June exam were repeated, i.e. consolidation issues in one year were similar. This is especially true in 2014. This also suggests the simultaneous writing of two exams at once for the June and December sessions.

I believe that the appearance of OFP and OSD in December 2016 has absolutely equal probability, I do not exclude that it will be OSD with OIK, as in June.

And, of course, it is necessary to solve all the notes to the consolidation question that were already in the previous exams. They are repeated in one form or another. Almost always in the notes there are questions about financial instruments - either by themselves (bonds, convertible), or associated with the calculation of exchange rate differences. By the way, there were no pension plans and options in the notes for a long time.

What will be the consolidated report for Dipifre in DECEMBER 2016?

• OSD with DECs (40%, 171 Votes)
• OFP (36%, 154 Votes)
• OSD (23%, 99 Votes)

Sale of a subsidiary - new in the DipIFR RUS program

Surely, many already know that in the Dipifr program, a complication has appeared in the consolidation issue in the form of the sale of a full share in a subsidiary. Exactly the same complication now exists in the F7 exam program of the main ACCA program. This innovation in the F7 program is explained on the ACCA website by the desire to ensure that candidates are better prepared for the more difficult P2 exam. And since the Dipifre certificate gives the right to pass the F7 paper automatically, then, accordingly, this innovation also affected the Dipifre exam. Given all of the above, it is not clear who is the initiator of all this: our examiner Paul Robins or the examiner of the F7 paper.

Most likely, Robins will take the chance to diversify the consolidation and compose the sale of a subsidiary in the December Dipifre exam, although this is not completely certain. But even if there is such a complication, everything is not so scary.

The sale of a subsidiary can be tested in both the FCE and the ATO consolidation. In the second case, it is a little more difficult, since it will take a little more time: it will be necessary to reflect the discontinued activity. The most difficult option of the three is the OSA plus OIC, as the disposal of the subsidiary would affect both the OSA and the statement of movements in capital (OIC).

Now the courses have just begun preparing for the December exam, and it will come closer to solving the consolidation issues closer to November. Those who are preparing to take Dipifre again are also unlikely to have time to repeat the consolidation.

Will there be a sale of a daughter in the consolidation in DECEMBER 2016?

• No, not this time (40%, 113 Votes)
• Yes, with OSD (35%, 98 Votes)
• Yes, with OFP (25%, 71 Votes)

Will there be an objective under IFRS 2 Share Payments?

The examiner's favorite topic is the IFRS 2 standard. Those who pass Dipifr not for the first time have seen this from their own experience. Of course, options can be expected at the exam in December 2016. If you scroll through past Dipifre exams, you can see that, since December 2010, there has not been a single session in which Paul Robins would not have tested this standard. Why such an enduring love of employee options is one can only guess, but it is impossible to comprehend. Our examiner tried everything: a) purely theoretical questions without calculations, b) settlement questions for the purchase of shares (settled in shares) and for the increase in the value of shares (settled in cash), and c) a 20-point question in June 2015, and d) notes in the consolidation of OFP and OSD for several points.

Exam	Options IFRS 2	Points
DECEMBER 2016	?	?
June 2016	stock settlement, option exercise price changes	9
December 2015	stock settlement	4
June 2015	theory + stock settlement, option exercise price changes + cash settlement	20
December 2014	theory without calculations	8
June 2014	settlement in cash	8
December 2013	stock settlement	6
June 2013		2
December 2012	note in OSD consolidation	2
June 2012	stock settlement	5
December 2011	note in OFP consolidation	3
June 2011	stock settlement	8

It can be assumed that in December 2016, for a change, Paul Robins may give a note in the options consolidation. Or a task that he himself tested the only time back in 2007 in his first exam. Or he will choose something from what has already been, or perhaps come up with something new. In any case, IFRS 2 is a mandatory standard for detailed study, because the likelihood of its appearance on the exam does not decrease over time.

Will there be a task on options (IFRS 2 standard)?

• Yes, in a note to consolidation (45%, 94 Votes)
• Yes, the calculation problem in theory (32%, 68 Votes)
• Yes, theory and tasks for 20 points (14%, 29 Votes)
• Yes, descriptive task in theory (no calculations) (5%, 10 Votes)
• No (4%, 9 Votes)

What standard of 20 points will Paul Robins choose for question #3?

Of course, many were waiting in June 2016 for the question on IFRS 15 “Revenue” for 20 points. IFRS 9 "Financial Instruments" and IFRS 17 "Leases" were also at the very top of the public rating. And the IFRS 12 “Income Taxes” standard appeared, for which only 10 people voted.

I will not express my ideas about the 20-point question, but I will definitely vote myself. The list is in chronological order. Please select one answer.

The history of the standards for the exam

Standard	Name	Exam
IFRS 12	income taxes	JUNE 2016
IFRS 15	Revenue	DECEMBER 2015
IFRS 2	Equity payments	JUNE 2015
IFRS 3	Business combination	DECEMBER 2014
IFRS 12	income tax	JUNE 2014
IFRS 12	income tax	DECEMBER 2013
IAS 18	Revenue	JUNE 2013
IAS 18	Revenue	DECEMBER 2012
IFRS 5	Non-current assets for sale	JUNE 2012
IAS 19	Remuneration (pensions)	DECEMBER 2011
IAS 38	Intangible assets	JUNE 2011

• IFRS 15 "Revenue" (23%, 62 Votes)
• IFRS 9 Financial Instruments (20%, 55 Votes)
• IAS 17 Leases (18%, 50 Votes)
• IFRS 12 Income Taxes (11%, 31 Votes)
• IAS 38 Intangible Assets (5%, 14 Votes)
• IFRS 5 "Non-current assets for sale" (4%, 12 Votes)
• Question 3 will have tasks according to different standards (4%, 12 Votes)
• IAS 36 Impairment of Assets (4%, 11 Votes)
• Some other standard (4%, 11 Votes)
• IAS 40 Investment Property (2%, 6 Votes)
• IFRS 16 Property, Plant and Equipment (2%, 5 Votes)
• IFRS 2 Share Payments (1%, 4 Votes)

Perhaps, it is worth paying attention to one more change in the exam program. It concerns the standard

As written in the right column, these changes were made "to clarify that this topic is being examined." That is, not because new IFRS standards have appeared that have affected the accounting of transactions, but so that we know that this may appear on the exam. Who knows, maybe this is a hint from the examiner and IAS 36 should be expected as a big question in the coming sessions (although not necessarily in December).

What "rare" standard will be on the exam in December 2016?

In June 2016, IFRS 24 “Related Parties” was tested for the second time in the last 2 years. In addition, in the fourth question, a question about biological assets (IFRS 41 “Agriculture”) and a question about accounting policies and estimates (IFRS 8) appeared. All three standards are rarely tested and the questions were completely descriptive. In December 2015, Paul Robins “remembered” two standards that had not previously been tested in the new exam format IFRS 6 Exploration and IAS 40 Investment Property. True, the issue under IFRS 40 was a calculated one, but explanations also had to be written. Is it possible to speak of a tendency to submit small questions on the Dipifre exam according to two or three standards, which are considered “rare”? Perhaps yes, but perhaps not.

Everyone learns large and important standards, but rare standards can give or take away that critical mass of points that are not enough or, on the contrary, will be enough to pass the exam. And, starting from December 2014, tasks for such “rare”, and therefore not very expected standards, contained from 17 to 20 points. I think we should expect the emergence of "rare" standards and further. The table below provides an analysis of the emergence of such standards since June 2011. With the exception of the IFRS 40 question in December 2015, all tasks were purely descriptive, ie. calculations were not required. The numbers next to the standard number is the number of points in the task.

Exam	Rare Standards	Total points
DECEMBER 2016	?	?
June 2016	IFRS 24 - 5b, IFRS 41 - 5b, IFRS 8 - 7b	17
December 2015	IFRS 6 - 10 b, IFRS 40 - 9 b	19
June 2015	Small businesses - 8 b, IAS 41 - 12 b	20
December 2014	Small enterprises - 8 b, pro control IFRS 10 - 4 b, pro goodwill IFRS 3 - 5 b	17
June 2014	IAS 24 - 7 b	7
December 2013	No	0
June 2013	IFRS 8 - 10 b, IFRS 13 - 10 b	20
December 2012	No	0
June 2012	IFRS 10 non-controlling event - 3b	3
December 2011	IFRS 1 - 6 b, IFRS bodies - 8 b, benefits from IFRS - 6 b	20
June 2011	No	0

Looking at , the majority (35%) expected the IAS 33 Earnings per Share target to emerge. However, there was no such task. And IFRS 8, 24 and 41 were not even included in the short list, according to which it was proposed to vote. This shows how little I, and probably all of us, understand the logic of our examiner Paul Robins. I invite everyone to think about what rare and descriptive standards he can choose this time. I hope that the list will cover all possible options, and someone will be able to guess at least 1 or even 2 standards from the list. There are three possible answers for this survey.

What rare standards will be tested in December 2016?

• IAS 20 Government Grants (15%, 53 Votes)
• IAS 33 Earnings per Share (12%, 43 Votes)
• IFRS 8 Operating Segments (12%, 41 Votes)
• IAS 19 Employee Benefits (10%, 34 Votes)
• IFRS 13 Fair Value (9%, 31 Votes)
• IFRS 10 "Events after the balance sheet date" (8%, 27 Votes)
• IFRS 1 First-time Adoption of IFRS (7%, 26 Votes)
• IAS 23 Borrowing Costs (7%, 25 Votes)
• IFRS 6 Mineral Exploration (5%, 18 Votes)
• IFRS 11 Joint Arrangements (5%, 18 Votes)
• IAS 40 Investment Property (4%, 15 Votes)
• Small Business Standard (3%, 11 Votes)
• One of those that were in June 2016 - IFRS 8, 24 or 41 (3%, 10 Votes)

I have included IFRS 13 Fair Value in the list, since, most likely, only a descriptive task without calculations can be expected under it. Although this standard may become part of a question on another topic in the same way as, in fact, IFRS 20, 23 standards. In addition, questions under IFRS 40 can also be settlement questions, as it was recently.

Attention: Exam predictions rarely match reality!

The predictions and votes that are in this article are nothing more than entertainment. This was once again clearly shown by similar surveys for the June 2016 exam. The standard for 20 points was correctly named by 3% of voters, IAS 33 "Earnings per share", which was expected by more than a third of respondents, was not on the exam. I managed to guess only two things - that there will be OSD in the consolidation (it was simple) and that there will be an option task (IFRS 2).

Let's face the truth in the monitor: do not prepare for the exam on the "forecasts"! You just need to learn all the standards. And periodically look into the exam program - do you know everything that is written there.

IFRS 16 Property, Plant and Equipment, IFRS 17 Leases, IFRS 19 Employee Benefits, IFRS 36 Impairment of Assets, IFRS 37 Provisions and Contingencies, IFRS 38 Intangible Assets, IFRS 5 Non-Current Assets Available for Sale ”, IFRS 9 “Financial Instruments”, IFRS 15 “Revenue” - all these standards should be included in the mandatory set for detailed study. Each of these standards may appear in the theoretical part of the Dipifre exam. But rare standards are now being tested with surprising regularity.

Two topics to which I would like to draw attention

IFRS 21 The Effects of Changes in Foreign Exchange Rates was not included in any of the surveys. It is also not on the list of "great standards" from the mandatory set. Judging by past exams, it is difficult to say whether this is a rare standard or not anymore. Do not forget to repeat it, the topic of calculating exchange rate differences is too attractive in order to complete the task on it.

• December 2016 - ?
• June 2016 - no
• December 2015 - exchange rate differences on fixed assets with depreciation calculation, 7 points
• June 2015 - no
• December 2014 - no
• June 2014 - exchange differences on fixed assets and accounts payable, 7 points
• December 2013 - no
• June 2013 - foreign exchange difference on a financial liability, 7 points
• December 2012 - no
• June 2012 - foreign exchange differences on a loan in consolidation, 4 points

In December 2015, a new IFRS 15 “Revenue” standard was issued for Dipifr, in June 2016 there was also a completely new topic, only recently included in the program, namely, the impairment of financial assets under IFRS 9 “Financial Instruments”. From the new one, Paul Robins still has a topic, or rather, accounting for financial assets according to the SS through the PED, which has never been taken to the exam. This topic must be studied well.

Those who are preparing for Dipif for the first time are unlikely to have any expectations for the December session. But as we get closer to December 9, I hope the number of voters will increase. The voting results will be summed up, probably, a week before December 9th. And the surveys themselves will be active until the start of the Dipifre exam.

Voting results

There is very little time left before the exam in December. You can already sum up the results of the vote. In fact, everyone can see it for themselves. How justified people's forecast, we will soon find out.

Will there be OSD or OFP?

In my opinion, two options are most likely: 1) OFP with the sale of a subsidiary and 2) OSD + OIC without the sale of a subsidiary. Although, of course, a third option is also likely: 3) OSD without OIC, but with the sale of a subsidiary.

Why can there be OFP? In 2013, 2014 and 2015, Paul Robins submitted two identical reports in a row for the exam: in 2013 - OFP, in 2014 - OSD, in 2015 - OFP. To catch by surprise, in December 2016, it turns out, there must be an OFP, otherwise everything will be too predictable. In addition, the sale of a subsidiary with an OFP is an easier option than the same with an OSD. It would be logical to first offer something simpler.

Why can there be OSD with OIC? Perhaps the examiner will find the appearance of an OSD with an OIC a bit more of a surprise than the GPP. The last two exams with OSD included the task of compiling the OIC - these are December 2014 and June 2016 (in 2015 there were two OFPs). Of course, this is a likely option, given that our examiner gives a consolidation question in December for three years in a row, similar to the June consolidation (maybe he writes two exams at once and is too lazy to invent two different questions?).

Of course, Robins can also present an unpleasant surprise: he proposes to draw up a consolidated OSD with sale of a subsidiary. This is a more complicated option than selling a daughter with a general physical condition, but then, it seems to me, there should be simpler theoretical questions. But just OFP and just OSD, in my opinion, are no longer so interesting to the examiner.

question for 20 points

With the new IFRS 16 leasing standard coming out in January 2016, Robins only has two exams left to test IFRS 17 Leases to the fullest, something he has never done before. In fairness, it must be said that IFRS 17 appeared once for 25 points in June 2006, but this was in the English version of the exam, and in Russia at that time the exams were written by another examiner.

In general, all these four standards need to be prepared very well: to be able not only to solve problems, but also to write an answer to purely theoretical questions. Although, nothing prevents Robins from putting some other standard on the exam, say, IAS 38 “Intangible Assets” or IAS 40 “Investment Property”.

Other standards that are likely in the exam in December

I would single out only tasks for exchange rate differences, it seems to me that the appearance of this topic in December is a little more likely. And all the other standards - well, how can you guess. Many are waiting for government subsidies, pension plans, earnings per share - maybe, maybe. But, of course, you need to learn the rest of the standards as well. I voted for IFRS 40 Investment Property, IFRS 13 Fair Value and IFRS 11 Joint Arrangements. And what will happen in the exam, those who will take Dipifr on December 9 will be the first to know.

Other helpful articles for exam preparation.

06/11/2016 at 12:09 pm

In general, it’s interesting in life - everything that you didn’t understand, you didn’t do, all the unfinished business will overtake you in the end ... And even these unfortunate options found me) .. maybe even now, after another complication of options, the teachers themselves will figure out HOW to do these tasks. And taxes would be sorted out properly. On the example of real reporting. It would be cool!

expert
June 11th, 2016 at 02:19 pm

Inna, in life you have to deal with everything on your own, in a different way, most often it does not happen.
Everyone has access to the Internet, and therefore to translations of IFRS standards in Russian. Take it, read it, take a step on your own, ask a question such that it will be clear - you really want to understand this, everything that you could have already shoveled, but ambiguity remained.
In order to explain this, I need to write an article with excerpts from the standard, and this is work for a day or two. Do you think I just sat down and wrote from the sheet? Each article takes a lot of time, which I have to spend. I thought that since this topic is not in the program, then why waste so much time.
In the end, there is an official answer, it was possible, if desired, to figure out which figure to subtract from which and where to put it in the reporting.

Inna
June 11th, 2016 at 02:48 pm

I don't like your intonation. I don't blame anyone. I'm talking about the fact that if you help people, and people ask questions, it means they want to figure it out. And do not reproach me for the fact that I did not read and did something on my own. I was just digging deep and in love with the standards .. You don’t know WHAT I went through and am still going through. And I put a lot of time and health into this exam. I am very grateful to you for your articles and site, but the way you began to respond rudely discourages any desire to ask you questions. Well, now delete my comment, just like you deleted our yesterday's chat to discuss the exam.

expert
June 11th, 2016 at 04:24 pm

Do you think some teacher will like it when they write “maybe even now, after another complication of options, teachers figure out how to do these things"? In your opinion, is it not rude to hint that the teachers themselves do not know anything?
If you take into account the costs of time and effort, I do not earn anything on this site, but only spend it. And your claims are completely unfounded. The choice of topics for articles is my prerogative. The percentage of passing this exam will be non-zero, and for all the conditions are the same.

43 chat messages with five words each - this is not Twitter. Unfortunately, other people unsubscribe from the community because of these chats. You can also discuss on the site.