SMEs an accountants role the need for continual

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SMEs – an accountants role, the need for continual learning & professional membership Jonathan

SMEs – an accountants role, the need for continual learning & professional membership Jonathan Barber – Head of Business Development www. ifa. org. uk

Terminology • SMEs – Small & Medium Enterprises • SMPs – Small & Medium

Terminology • SMEs – Small & Medium Enterprises • SMPs – Small & Medium Accountancy Practices

Content • • • SMEs – relevance & definition An accountants role Institute of

Content • • • SMEs – relevance & definition An accountants role Institute of Financial Accountants (IFA) Institute of Public Accountants of Australia (IPA) Learning & Personal Development Professional Membership

SMEs • Globally relevant • Definition

SMEs • Globally relevant • Definition

Definition – numbers RUSSIA EU EU SME Segmentation Revenue (eur min) Number of employees

Definition – numbers RUSSIA EU EU SME Segmentation Revenue (eur min) Number of employees Medium 10 -25 101 -250 10 -50 50 -250 Small 1. 5 -10 15 -100 2 -10 10 -50 Micro Less than 1. 5 Less than 15 Less than 2 Less than 10 Source: European Investment Bank report 2013

SMEs – an accountants role • Small accounting or finance department • Need for

SMEs – an accountants role • Small accounting or finance department • Need for all-round & generalised experience & knowledge • Ability to multi-task • Knowledge of non finance matters • Part of senior management team – strategic input • Work closely with external professional advisers • Trusted Business Advisers

IFA & IPA Group • • IFA established 1916 IPA Group – 35000 members

IFA & IPA Group • • IFA established 1916 IPA Group – 35000 members and students Worlds largest SME/SMP focused accountancy group Both Institutes FULL members of the International Federation of Accountants (IFAC) • IPA Group 20 th largest member body of IFAC • Members work as accountants / finance professionals in SMEs or SMPs serving SMEs

Professional Qualifications & Learning • IFA qualifications • Diploma in IFRS for Accounting Professionals

Professional Qualifications & Learning • IFA qualifications • Diploma in IFRS for Accounting Professionals • Endorsed local programmes

Progression Routes to Membership Programme Membership level Available Diploma in IFRS for Accounting Professionals

Progression Routes to Membership Programme Membership level Available Diploma in IFRS for Accounting Professionals + Ethics Financial Accountant Executive (FAE) Certified Financial Manager + Ethics Financial Accountant Executive (FAE) Certified Financial Director including endorsed tax unit + Ethics Associate Financial Accountant (AFA) IFA Level 4 regulated qualification + Ethics Financial Accountant Executive (FAE) IFA Level 5 regulated qualification + Ethics Associate Financial Accountant (AFA) Associate members of FULL IFAC bodies Associate Financial Accountant (AFA) ACCA students who have achieved units F 1 -F 9 Associate Financial Accountant (AFA)

Professional Membership – why? • • • International recognition Enhanced credibility – designatory letters

Professional Membership – why? • • • International recognition Enhanced credibility – designatory letters Portability – global acceptance Standards & Quality Relevancy – specific support to members in SMEs & SMPs Continual Professional Development – opportunities Top Up degree – Northampton University MBA Programme – Australian University Relationship with other bodies

Summary • SMEs “life blood of many economies” • Need for continual learning •

Summary • SMEs “life blood of many economies” • Need for continual learning • Strength and reassurance from professional membership • IFA / IPA Group can help

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