The Institute for Enterprise Issues Educational Programs

The Institute for Enterprise Issues Educational ProgramsThe Institute for Enterprise Issues Educational Programs

Professional BodiesProfessional 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

Educational programs of ACCA – Association of Chartered Certified Accountants

• Programs and qualifications of ACCAWhat is АССА?Review of professional programs Why АССА?Other similar organizations

• Programs of АССА• The Institute for Enterprise Issues (IEI) –

St-Petersburg, Russia• Programs of IEI• Terms of registration• Cost of educations• Requirements of АССА to students

Why АССА?• One of the largest international associations of

professional accountants and financial specialists

• Offices in 70 countries• On 1 December 2003 АССА had its 100 years

anniversary• More than 300 000 students and members in

160 countries• Other similar organizations:• CIMA: Offices in 12 countries, 130 000 students

and members in 156 countries

What is АССА?What is АССА?

АССА offers to study both basic qualifications as well as continuous professional development

• Certified Accounting Technician

• Charted Certified Accountant (ACCA)

• MBA (ACCA with Oxford Brooks University)

Basic qualificationsBasic qualifications

Secondary education

Part 1

3 papers

Higher education Exemptions

Part 2

6 papers

Part 3 (on choice) 3 papers out

of 4

MBA Oxford

Part 3 (obligatory)

3 papers

Accounting

Audit

Bank

Insurance

Education

Financial services

Chartered Certified AccountantChartered 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 - ACCAMBA - ACCA

• Diploma in International Financial Reporting (DipIFR)

• Diploma in Financial Management (DipFM)

Programs of professional developmentPrograms 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 IssuesThe 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, RussiaPrograms of IEI in St-Petersburg, Russia

• Core qualification

• International recognition

• Both fundamental theoretical and practical knowledge

Certified Chartered AccountantCertified Chartered Accountant

Course consists of 16 papers (14 are obligatory)

• Up to 10 years• Usually 2-3 years• To become a member there is a

requirement for practical experience in the related field of at least 3 years

Certified Chartered AccountantCertified Chartered Accountant

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

Course content

Part 1

Subject nameDays 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 ContentPart 2Course ContentPart 2

Information Systems• Principles of planning and control in information

systems• Determination of users specifications

requirements• Introduction, control and support of information

systems• Methods of organization and principles of design

works• Quality control

Course contentPaper 2.1.Course contentPaper 2.1.

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


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


Financial Reporting

(International Financial Reporting Standards (IAS/IFRS) or Accounting Standards of UK/Ireland streams)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


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• Variation analysis • Evaluation of events after balance sheet date• Auditors conclusion



Paper 3.1.

(on choice)

Audit and Assurance services 6 days

Paper 3.2.

(on choice)

Advanced Taxation

Paper 3.3

(on choice)

Performance Management 6 days

Paper 3.4.

(on choice)

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 contentPart 3Course contentPart 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


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


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 different

users• Evaluation of recent events and tendencies in the field

of corporate reporting


Strategic Financial Management

• Sources of finance• Evaluation of capital allocation; investment

decisions (NPV)• Risk management• Cash flow management and liquid assets

management• Evaluation of company’s financial position


• 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 ManagementDiploma 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


Paper 1 Interpretation of Financial Statements 6 days

Paper 2 Performance Measurement 6 days

Paper 3 Financial Strategy 6 days

Paper 4 Risk Management 6 days

Diploma in Financial ManagementDiploma 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 contentPaper 1.Course contentPaper 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.


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.


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.


• 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



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



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 EducationCost of Education

Diploma in Financial Management:

1) Education at IEI in St-Petersburg: Cost of education of this diploma is equivalent of 3000

USD for the whole course, including VAT, registration fee collected by ACCA, which is 235 Pounds, and study materials.

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


• 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.


Chartered Certified Accountant:• Incomplete higher education• Adequate knowledge of English

Diploma in Financial Management:• Higher education• Adequate knowledge of English

Diploma in International Financial Reporting• Professional Qualification in accordance with National standards of

accounting, OR• Diploma of higher education in corresponding field and 2 years of

practical experience in accounting, • OR• 3 years of practical experience in accounting, • Adequate knowledge of English (for Diploma in English).

Requirements of ACCA to studentsRequirements of ACCA to students

The Institute for Enterprise Issues in St-Petersburg, Russia

191119, St-Petersburg, Marata St., H. 92, Russia

Tel: (+7-812) 7033007 Fax: (+7-812) [email protected]@ippnou.ru www.ipp.spb.ru www.ippnou.ru

Director: Sergey Sokolov

Administrator of ACCA courses: Yulia Fedina

Director DipIFR ACCA IEI: Sergey Moderov

ContactsContacts

Association of Chartered Certified Accountants

www.accaglobal.comIlya Yuferev tel. [email protected]

mailto:[email protected]


http://www.ipp.spb.ru/

http://www.ippnou.ru/

http://www.accaglobal.com/


Documents

The Institute for Enterprise Issues Educational Programs