Acca The Institute For Enetrprise Issues Eng

• Certified Chartered Accountant students at Universities, employees of international audit firms, international and Russian companies • Diploma in Financial Management international an

The Institute for Enterprise Issues Educational Programs

Professional Bodies

IEI – is a member of international network of independent

accountants Kreston International.

IEI is accredited as a provider of ACCA (Association of Chartered Certified Accountants), including IFRS

courses.

Educational programs of ACCA – Association of

Chartered Certified

Accountants

• Programs and qualifications of ACCA

Why АССА?

• One of the largest international associations

of professional accountants and financial

• Other similar organizations:

• CIMA: Offices in 12 countries, 130 000 students and members in 156 countries

What is АССА?

АССА offers to study both basic qualifications as well as

continuous professional

development

3 papers out

of 4

MBA Oxford

Part 3 (obligatory)

3 papers

AccountingAuditBankInsuranceEducation

Financial services

Chartered Certified

Accountant

• Combined program by АССА and Oxford Brooks University

• Any member of АССА may obtain МВА in 21 month

• Executive education (without interruption from work)

• Possibility to study through Internet

• ACCA qualification is recognized all over the world

MBA - ACCA

• Diploma in International Financial Reporting (DipIFR)

• Diploma in Financial Management (DipFM)

Programs of professional

development

• Founded in 1992

• Professional programs of

education in accounting and

finance – one of the strongest

features of the colledge

• Accredited by АССА «Registered Tuition Provider» for 2004, 2005

• Technologies of IEI have been

awarded Gold Approved status by ACCA in 2004

The Institute for

Enterprise Issues

• Certified Chartered Accountant

(students at Universities, employees of international audit firms, international and Russian companies)

• Diploma in Financial Management

(international and Russian companies)

• Diploma in International Financial Reporting (international and Russian companies, governmental bodies)

Programs of IEI in

St-Petersburg, Russia

Course consists of 16 papers

Subject name

Days of study Paper 1.1 Preparing Financial Statements 6-8 days

Paper 1.2 Financial Information for

Management

6-8 days Paper 1.3 Managing People 6-8 days Course content

Part 1

Subject name

Days of study

Paper 2.1 Information Systems 6-8 days Paper 2.2 Corporate and Business Law 6-8 days Paper 2.3 Business Taxation 6-8 days Paper 2.4 Financial Management and Control 8-10 days

Paper 2.5 Financial Reporting (continuing

from paper 1.1.) 8-10 days Paper 2.6 Audit and Internal Review 6-8 days

Course Content

Part 2

Business Taxation (Russian stream)

• Tax system structure

• Corporate profit tax (CPT) for individual companies and groups of companies

• VAT and sales tax

• Social insurance scheme

• Tax exemptions

• Personal Income Tax (PIT)

• Property tax for companies

Course content

Paper 2.3.

Financial Management and Control

• Working capital management

• Appraisal of sources of finance

• Capital allocation among investment projects using Net Present Value (NPV)

• Implementation of Profit Centers and Cost

Centers system

• Budgeting

Course content

Paper 2.4.

continuing from Paper 1.1

• Application of International Financial Reporting Standards in certain business-cases

• Preparation of financial reports in accordance to International

Financial Reporting Standards

• Consolidation

• Analysis of financial statements of groups pf companies and

preparation of reports for different groups of users

Course content

Paper 2.5.

Audit and Internal Review (International

stream)

• Aim and scope for internal and external audit

• Planning

• Evaluation of the systems of accounting and internal control

• Sources of audit evidences, kinds of testing, materiality level

• Evaluation of audit evidences

Subject name

Days of study

Business Information Management

Paper 3.5 Strategic Business Planning and

Development

6 days Paper 3.6 Advanced Corporate Reporting 6 days Paper 3.7 Strategic Financial Management 6 days

Course content

Part 3

Audit and Assurance

Services

(on choice)

• Codes of professional and business ethics

• Recent tendencies in audit business

• Requirements of International Standards on Auditing to client’s engagements

• Application of Audit Standards

Course content

Paper 3.1.

Strategic Business Planning and Development

• Principles and concepts used in strategic planning

• Evaluation of purposes and share on

market

• Methods of strategies achievement

• Influence of globalization to strategic

business planning

Course content

Paper 3.5.

Advanced corporate reporting

(International Financial Reporting Standards - IFRS)

• Evaluation of impact by existing and proposed

accounting standards on company

• Evaluation of impact by business decisions on

financial reports

• Evaluation of conformity of accounting policy to

existing legislation

• Preparation of financial reports for difficult situations

• Financial reports analysis and presentation for

• International diploma, covering key aspects in financial management (planning, budgeting,

evaluation of financial and economic activity, cost and profit centers, risk management and so on)

• Intended for financial personnel of middle and top management

• Diploma program was recently недавно была renewed

• Diploma is granted to more than 10 000

managers internationally

Diploma in Financial

Management

• Course consist of 4 papers, united into 2 modules (subjects are

similar to those of Chartered Certified Accountants program)

• On completion of every module student will have to sit for an

examination and write thesis script

Subject name

Days of study

Paper 1 Interpretation of Financial Statements 6 daysPaper 2 Performance Measurement 6 daysPaper 3 Financial Strategy 6 daysPaper 4 Risk Management 6 days

Diploma in Financial

Management

Interpretation of Financial

Statements (IFRS)

• Role and function of external financial reports and their users and the regulatory framework in which they are prepared

• Accounting concepts and conventions present in

generally accepted accounting practice

• Presentation, measurement and meaning of the

primary financial statements and their contents

• Informational role of the constituent parts of a

corporate annual report usually presented in addition

to the primary financial statements

• Financial performance, financial position and

adaptability as revealed by financial statement

analysis, particularly by the use of financial and

accounting ratios

Course content

Paper 1.

Performance Measurment

• Performance measures and overall organisation strategy

• Budgets and their use to control and evaluate organisational performance

• Techniques that aid decision-making to maximise financial performance

• Implementation of appropriate costing systems and business control systems

• Techniques to evaluate decisions in relation to costing,

pricing, product range, marketing strategy, purchasing and production strategies

• Non-financial performance measures, and the

inter-relationships between different performance measures

• Behavioural and organisational consequences of using

performance measurement and performance management techniques

• Techniques for evaluating the performance of divisions

• Issues that may cause performance to fall short of

expectations, such as actions of competitors, labour disputes, supply problems, foreign exchange movements and late

payment

Course content

Paper 2.

Financial Strategy

• The role and nature of financial strategy and its relationship to shareholder value

• The main elements of investment appraisal

• Long-term decision opportunities through the use

of appropriate techniques

• The major sources of finance available to an

organisation

• The role of capital markets in raising finance

• The main methods of managing working capital and analyse working capital policies

• Evaluation the motives for, and financial

implications of, mergers and acquisitions

• The impact of taxation and inflation on financial strategy decisions

Course content

Paper 3.

Risk Management

• The drivers behind an organisation’s appetite and consequent policy for managing risk

• The main types of financial risk and evaluation of the

mechanisms available for managing exposure to them

• Various tools and techniques for identifying, measuring and communicating risk

• Importance of internal control in the management of risk

• Various frameworks and codes enshrining good governance practice

• Role of individuals and committees in implementing and

reporting on good governance

Course content

Paper 3.

• АССА firstly offers qualification in

International Financial Reporting

• European Union requires quoted

companies to report in accordance with IFRS

• Intended for working accountants,

finance specialists and auditors

Diploma in International

Financial Reporting

(DipIFR)

• Course consists of 1 subject

• Education lasts fro 3 to 6 months

• There is 10 days of education in class

• On completion of the program there is one written exam

Diploma in International

Financial Reporting

(DipIFR)

Main topics:

• International bodies, regulating adoption and

application of standards

• Elements of financial reports (BS, PL, SCE, CF)

• Form of representation of financial reports and

additional disclosure of information,

• Preparation of financial reports for certain companies

• Consolidated financial statements for groups of

companies and группы компаний joint ventures

Diploma in International

Financial Reporting

(DipIFR)

Certified Chartered Accountant:

1) Education at IEI in ST-Petersburg:

• Equivalent of 800 USD for one paper of part 1 and 2 (6-10 days), including VAT and study materials

• Equivalent of 950 USD for one paper of part 3 (6 days), including VAT and study materials

2) Registration in АССА and annual payments:

• 57 Pounds – registration

• 57 Pounds – annual payments

3) Payment to ACCA for examination sessions:

• Part 1 – 40 Pounds per paper

• Part 2 – 48 Pounds per paper

• Part 3 – 56 Pounds per paper

Cost of Education

2) Payment to ACCA for examination session:

240 Pounds for all papers (60 Pounds * 2 exams + 2 thesis)

3) Annual payments to ACCA

50 Pounds

Cost of Education

• Diploma in International Financial Reporting (in English):

Cost of education on this Diploma is 49 500 Russian Roubles for the hole course, VAT exempt, including registration fee and payment for exams, collectable by АССА, as well as cost of study materials

• Diploma in International Financial Reporting (in Russian):

Cost of education on this Diploma is 49 500 Russian Roubles for the hole course, VAT exempt, including registration fee and payment for exams, collectable by ATC International, as well

as cost of study materials

Cost of Education

Chartered Certified Accountant:

• Incomplete higher education

• Adequate knowledge of English

Diploma in Financial Management:

• Higher education

• Adequate knowledge of English

Diploma in International Financial

• 3 years of practical experience in accounting,

• Adequate knowledge of English (for Diploma in English).

Requirements of ACCA to students

The Institute for Enterprise Issues in

Director: Sergey Sokolov

Administrator of ACCA courses: