IFRS Exam in December 2020 – CBT Exam

IFRS Exam in December 2020 – CBT Exam

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IFRS Exam in December 2020 – CBT Exam A beginning of a new era for ACCA IFRS Exam! It is for the better.

The Diploma in IFRS (DipIFR) Exam to be conducted in December 2020 as Session Computed Based Exam (CBT Exam), which means, it will be conducted via computer at a designated centre assigned by ACCA UK. The participants willing to appear for Diploma in IFRS will be booking the exam for Dec and select the centres as per the availability of seats and authorised centre in their location, so it is advised to book exams early, if one has made up their mind to appear for Diploma in IFRS examination in Dec 2020.

The DipIFR exam participants are going through a tough phase with postponement of exam in June 2020 and then its cancellation in Sep 2020.

It has come up with another surprise that exams will now be conducted only via Computer through sessions CBT Exam, which is creating fear, doubts among the people willing to appear for this examination. www.takshilalearning.com

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IFRS Exam in December 2020 – CBT Exam I am sharing the change in method of examination and how it will be conducted under the new system.

I personally believe, this is a welcome change as in the past 10 years, I have been delivering lectures on IFRS and always used excel or spreadsheet as a medium to perform calculations for a Consolidated Statement of Financial Position question and there were loud noises that you have excel, but we have to write on a pen and paper, how we are going to navigate in the examination and leave space or move up and down for performing calculations.

I thank god, that finally the way I have been performing calculations for doing a consolidation question have been included as part of the system to conduct examination, which I plan to share, by performing a calculation in the new format.

The new exam system is as follows:

The DipIFR Exam consists of four questions of 25 marks each presented in a workspace. www.takshilalearning.com

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IFRS Exam in December 2020 – CBT Exam A workspace is the area within the computer based exam which contains all of the question content, the question requirements and the response options, within which, the participant is required to construct the responses. All workspace response options will be expert marked. Each workspace contains introductory information about the question on the right hand side of the screen.

The left hand side of the screen lists a series of buttons under the headings Exhibits, Requirements and Response Options.

The key features of the workspace are: All exhibit, requirements and response option windows can be moved around the screen and resized as required.

Anything entered into the response options will be saved, so one can re-open them and continue working at any time. www.takshilalearning.com

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IFRS Exam in December 2020 – CBT Exam One can highlight or strikethrough text in the introductory information, exhibits or requirements.

If a participant close windows individually or use the Close All button, any highlighting or strikethrough applied will be saved for when the window is re-opened.

One can copy and paste between different elements of the workspace by using the Ctrl-C (Copy) and Ctrl-V (Paste) shortcuts.

Copy and paste is possible between Response options (eg word processor to spreadsheets) and Scratch Pad. Functions – A number of word processing functions are available via the tool bar.

One can add a selection of currency symbols to answers by selecting on the top toolbar When the buttons are selected, the relevant windows are opened and displayed onscreen.

Exhibits www.takshilalearning.com

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IFRS Exam in December 2020 – CBT Exam These contain the question scenario content broken down into sections or sources of information that the participant will need to answer the question requirement(s).

An exhibit may be in the format of a spreadsheet or may contain text or images.

Requirements These are the requirement(s) or questions the participant is expected to complete in the workspace.

Response options The participants are presented with one or more response options within which he/she has to construct the answer. Some questions may specify which response option one should use to answer the requirements, however if this is not specified then according to the response option provided.

A response option may be in the format of: – www.takshilalearning.com

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IFRS Exam in December 2020 – CBT Exam A word processor – B spreadsheet The response option will either be presented with: A blank word processing area or a blank spreadsheet within which one can enter answer; or A pre-formatted area (a template) within which one should complete the answer.

Workings/scratch pad A participant can use an on-screen Scratch Pad to make notes/workings,can cut and copy text from the Scratch Pad . This will not be submitted for marking. Paper is provided if needed for workings.

Navigator screen Navigator can be accessed at any time during the exam which allows to move to any question number in the exam. It also allows seeing the status of each question and whether it has been viewed, attempted or flagged for review. www.takshilalearning.com

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IFRS Exam in December 2020 – CBT Exam Item review screen This screen gives a final opportunity to see the flag and attempted status of each question and to review answers before exiting the exam.

ENDING THE EXAM – Once a participant has completed item review and wish to finally end the exam after submitting, they cannot revisit the questions.

All the best wishes for the exam and watch out for this space for a solved question paper in the new format.

Good luck!

SUGGESTED READING: Ind AS 116 Leases – IFRS 16 Leases 5 Steps to prepare for clearing Dip IFR www.takshilalearning.com

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IFRS Exam in December 2020 – CBT Exam Here, at Takshila Learning, we provide IFRS Online Course, for ACCCA Certification.

Prepare yourself with our IFRS Course Online by our expert faculty ACCA Amit Kumar. We are also serving Online Classes for various Courses such as School from K12, Professional Courses, i.e., CA/CS/CMA/DIPIFR, Skill Development courses, i.e, Digital Marketing and Competitive Exams, i.e., SSC/Banking/Railways.

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