The Institute for Enterprise Issues Educational Programs

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The Institute for Enterprise Issues Educational Programs

  1. 1. The Institute for Enterprise Issues Educational Programs
  2. 2. 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.
  3. 3. Educational programs of ACCA – Association of Chartered Certified Accountants
  4. 4. <ul><li>Programs and qualifications of ACCA </li></ul><ul><li>What is АССА? </li></ul><ul><li>Review of professional programs </li></ul><ul><li>Why АССА ? </li></ul><ul><li>Other similar organizations </li></ul><ul><li>Programs of АССА </li></ul><ul><li>The Institute for Enterprise Issues ( IEI ) – St-Petersburg, Russia </li></ul><ul><li>Programs of IEI </li></ul><ul><li>Terms of registration </li></ul><ul><li>Cost of educations </li></ul><ul><li>Requirements of АССА to students </li></ul>
  5. 5. <ul><li>Why АССА? </li></ul><ul><li>One of the largest international associations of professional accountants and financial specialists </li></ul><ul><li>Offices in 70 countries </li></ul><ul><li>On 1 December 2003 АССА had its 100 years anniversary </li></ul><ul><li>More than 300 000 students and members in 160 countries </li></ul><ul><li>Other similar organizations: </li></ul><ul><li>CIMA : Offices in 12 countries , 130 000 students and members in 156 countries </li></ul>What is АССА?
  6. 6. <ul><li>АССА offers to study both basic qualifications as well as continuous professional development </li></ul>
  7. 7. <ul><li>Certified Accounting Technician </li></ul><ul><li>Charted Certified Accountant ( ACCA ) </li></ul><ul><li>MBA (ACCA with Oxford Brooks University ) </li></ul>Basic qualifications
  8. 8. 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 Accountant
  9. 9. <ul><li>Combined program by АССА and Oxford Brooks University </li></ul><ul><li>Any member of АССА may obtain МВА in 21 month </li></ul><ul><li>Executive education (without interruption from work) </li></ul><ul><li>Possibility to study through Internet </li></ul><ul><li>ACCA qualification is recognized all over the world </li></ul>MBA - ACCA
  10. 10. <ul><li>Diploma in International Financial Reporting (DipIFR) </li></ul><ul><li>Diploma in Financial Management (DipFM) </li></ul>Programs of professional development
  11. 11. <ul><li>Founded in 199 2 </li></ul><ul><li>Professional programs of education in accounting and finance – one of the strongest features of the colledge </li></ul><ul><li>Accredited by АССА « Registered Tuition Provider » for 2004, 2005 </li></ul><ul><li>Technologies of IEI have been awarded Gold Approved status by ACCA in 2004 </li></ul>The Institute for Enterprise Issues
  12. 12. <ul><li>Certified Chartered Accountant (students at Universities , employees of international audit firms , international and Russian companies ) </li></ul><ul><li>Diploma in Financial Management ( international and Russian companies ) </li></ul><ul><li>Diploma in International Financial Reporting ( international and Russian companies , governmental bodies ) </li></ul>Programs of IEI in St-Petersburg, Russia
  13. 13. <ul><li>Core qualification </li></ul><ul><li>International recognition </li></ul><ul><li>Both fundamental theoretical and practical knowledge </li></ul>Certified Chartered Accountant
  14. 14. <ul><li>Course consists of 16 papers </li></ul><ul><li>(14 are obligatory ) </li></ul><ul><li>Up to 10 years </li></ul><ul><li>Usually 2-3 years </li></ul><ul><li>To become a member there is a requirement for practical experience in the related field of at least 3 years </li></ul>Certified Chartered Accountant
  15. 15. Course content Part 1 6 - 8 days Managing People Paper 1.3 6 - 8 days Financial Information for Management Paper 1.2. 6 - 8 days Preparing Financial Statements Paper 1.1. Days of study Subject name
  16. 16. Course Content Part 2 6-8 days Business Taxation Paper 2.3 8 - 10 days Financial Management and Control Paper 2.4. 8-10 days Financial Reporting ( continuing from paper 1.1.) Paper 2.5. 6 - 8 days Audit and Internal Review Paper 2.6. 6-8 days Corporate and Business Law Paper 2.2. 6 - 8 days Information Systems Paper 2.1. Days of study Subject name
  17. 17. <ul><li>Information Systems </li></ul><ul><li>Principles of planning and control in information systems </li></ul><ul><li>Determination of users specifications requirements </li></ul><ul><li>Introduction , control and support of information systems </li></ul><ul><li>Methods of organization and principles of design works </li></ul><ul><li>Quality control </li></ul>Course content Paper 2.1.
  18. 18. <ul><li>Business Taxation ( Russian stream ) </li></ul><ul><li>Tax system structure </li></ul><ul><li>Corporate profit tax (CPT) for individual companies and groups of companies </li></ul><ul><li>VAT and sales tax </li></ul><ul><li>Social insurance scheme </li></ul><ul><li>Tax exemptions </li></ul><ul><li>Personal Income Tax (PIT) </li></ul><ul><li>Property tax for companies </li></ul>Course content Paper 2.3.
  19. 19. <ul><li>Financial Management and Control </li></ul><ul><li>Working capital management </li></ul><ul><li>Appraisal of sources of finance </li></ul><ul><li>Capital allocation among investment projects using Net Present Value (NPV) </li></ul><ul><li>Implementation of Profit Centers and Cost Centers system </li></ul><ul><li>Budgeting </li></ul>Course content Paper 2.4.
  20. 20. <ul><li>Financial Reporting </li></ul><ul><li>( International Financial Reporting Standards ( IAS/IFRS ) or Accounting Standards of UK/Ireland streams ) </li></ul><ul><li>continuing from Paper 1.1 </li></ul><ul><li>Application of International Financial Reporting Standards in certain business-cases </li></ul><ul><li>Preparation of financial reports in accordance to International Financial Reporting Standards </li></ul><ul><li>Consolidation </li></ul><ul><li>Analysis of financial statements of groups pf companies and preparation of reports for different groups of users </li></ul>Course content Paper 2.5.
  21. 21. <ul><li>Audit and Internal Review ( International stream ) </li></ul><ul><li>Aim and scope for internal and external audit </li></ul><ul><li>Planning </li></ul><ul><li>Evaluation of the systems of accounting and internal control </li></ul><ul><li>Sources of audit evidences , kinds of testing , materiality level </li></ul><ul><li>Evaluation of audit evidences </li></ul><ul><li>Variation analysis </li></ul><ul><li>Evaluation of events after balance sheet date </li></ul><ul><li>Auditors conclusion </li></ul>Course content Paper 2.6.
  22. 22. Course content Part 3 6 days Advanced Corporate Reporting Paper 3.6. 6 days Performance Management Paper 3.3 ( on choice ) Business Information Management Paper 3.4. ( on choice ) 6 days Strategic Business Planning and Development Paper 3.5. 6 days Strategic Financial Management Paper 3.7. Advanced Taxation Paper 3.2. ( on choice ) 6 days Audit and Assurance services Paper 3.1. ( on choice ) Days of study Subject name
  23. 23. <ul><li>Audit and Assurance Services </li></ul><ul><li>( on choice ) </li></ul><ul><li>Codes of professional and business ethics </li></ul><ul><li>Recent tendencies in audit business </li></ul><ul><li>Requirements of International Standards on Auditing to client’s engagements </li></ul><ul><li>Application of Audit Standards </li></ul>Course content Paper 3.1.
  24. 24. <ul><li>Strategic Business Planning and Development </li></ul><ul><li>Principles and concepts used in strategic planning </li></ul><ul><li>Evaluation of purposes and share on market </li></ul><ul><li>Methods of strategies achievement </li></ul><ul><li>Influence of globalization to strategic business planning </li></ul>Course content Paper 3.5.
  25. 25. <ul><li>Advanced corporate reporting </li></ul><ul><li>( International Financial Reporting Standards - IFRS ) </li></ul><ul><li>Evaluation of impact by existing and proposed accounting standards on company </li></ul><ul><li>Evaluation of impact by business decisions on financial reports </li></ul><ul><li>Evaluation of conformity of accounting policy to existing legislation </li></ul><ul><li>Preparation of financial reports for difficult situations </li></ul><ul><li>Financial reports analysis and presentation for different users </li></ul><ul><li>Evaluation of recent events and tendencies in the field of corporate reporting </li></ul>Course content Paper 3.6.
  26. 26. <ul><li>Strategic Financial Management </li></ul><ul><li>Sources of finance </li></ul><ul><li>Evaluation of capital allocation ; investment decisions ( NPV) </li></ul><ul><li>Risk management </li></ul><ul><li>Cash flow management and liquid assets management </li></ul><ul><li>Evaluation of company’s financial position </li></ul>Course content Paper 3.7.
  27. 27. <ul><li>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 ) </li></ul><ul><li>Intended for financial personnel of middle and top management </li></ul><ul><li>Diploma program was recently недавно была renewed </li></ul><ul><li>Diploma is granted to more than 10 000 managers internationally </li></ul>Diploma in Financial Management
  28. 28. <ul><li>Course consist of 4 papers , united into 2 modules ( subjects are similar to those of Chartered Certified Accountants program ) </li></ul><ul><li>On completion of every module student will have to sit for an examination and write thesis script </li></ul>Diploma in Financial Management 6 days Risk Management Paper 4 6 days Financial Strategy Paper 3 6 days Performance Measurement Paper 2 6 days Interpretation of Financial Statements Paper 1 Days of study Subject name
  29. 29. <ul><li>Interpretation of Financial Statements ( IFRS ) </li></ul><ul><li>R ole and function of external financial reports and their users and the regulatory framework in which they are prepared </li></ul><ul><li>A ccounting concepts and conventions present in generally accepted accounting practice </li></ul><ul><li>P resentation, measurement and meaning of the primary financial statements and their contents </li></ul><ul><li>I nformational role of the constituent parts of a corporate annual report usually presented in addition to the primary financial statements </li></ul><ul><li>F inancial performance, financial position and adaptability as revealed by financial statement analysis, particularly by the use of financial and accounting ratios. </li></ul>Course content Paper 1.
  30. 30. <ul><li>Performance Measurment </li></ul><ul><li>P erformance measures and overall organisation strategy </li></ul><ul><li>B udgets and their use to control and evaluate organisational performance </li></ul><ul><li>Techniques that aid decision-making to maximise financial performance </li></ul><ul><li>I mplement ation of appropriate costing systems and business control systems </li></ul><ul><li>T echniques to evaluate decisions in relation to costing, pricing, product range, marketing strategy, purchasing and production strategies </li></ul><ul><li>N on-financial performance measures, and the inter-relationships between different performance measures </li></ul><ul><li>B ehavioural and organisational consequences of using performance measurement and performance management techniques </li></ul><ul><li>T echniques for evaluating the performance of divisions </li></ul><ul><li>I ssues that may cause performance to fall short of expectations, such as actions of competitors, labour disputes, supply problems, foreign exchange movements and late payment. </li></ul>Course content Paper 2.
  31. 31. <ul><li>Financial Strategy </li></ul><ul><li>T he role and nature of financial strategy and its relationship to shareholder value </li></ul><ul><li>The main elements of investment appraisal </li></ul><ul><li>L ong-term decision opportunities through the use of appropriate techniques </li></ul><ul><li>T he major sources of finance available to an organisation </li></ul><ul><li>The role of capital markets in raising finance </li></ul><ul><li>The main methods of managing working capital and analyse working capital policies </li></ul><ul><li>E valua tion the motives for, and financial implications of, mergers and acquisitions </li></ul><ul><li>The impact of taxation and inflation on financial strategy decisions. </li></ul>Course content Paper 3.
  32. 32. <ul><li>Risk Management </li></ul><ul><li>The drivers behind an organisation’s appetite and consequent policy for managing risk </li></ul><ul><li>T he main types of financial risk and evaluat ion of the mechanisms available for managing exposure to them </li></ul><ul><li>V arious tools and techniques for identifying, measuring and communicating risk </li></ul><ul><li>Importance of internal control in the management of risk </li></ul><ul><li>V arious frameworks and codes enshrining good governance practice </li></ul><ul><li>R ole of individuals and committees in implementing and reporting on good governance. </li></ul>Course content Paper 3.
  33. 33. <ul><li>АССА firstly offers qualification in International Financial Reporting </li></ul><ul><li>European Union requires quoted companies to report in accordance with IFRS </li></ul><ul><li>Intended for working accountants, finance specialists and auditors </li></ul>Diploma in International Financial Reporting ( DipIFR)
  34. 34. <ul><li>Course consists of 1 subject </li></ul><ul><li>Education lasts fro 3 to 6 months </li></ul><ul><li>There is 10 days of education in class </li></ul><ul><li>On completion of the program there is one written exam </li></ul>Diploma in International Financial Reporting (DipIFR)
  35. 35. <ul><li>Main topics : </li></ul><ul><li>International bodies , regulating adoption and application of standards </li></ul><ul><li>Elements of financial reports (BS, PL, SCE, CF) </li></ul><ul><li>Form of representation of financial reports and additional disclosure of information, </li></ul><ul><li>Preparation of financial reports for certain companies </li></ul><ul><li>Consolidated financial statements for groups of companies and группы компаний joint ventures </li></ul>Diploma in International Financial Reporting ( DipIFR)
  36. 36. <ul><li>Certified Chartered Accountant : </li></ul><ul><li>1) Education at IEI in ST-Petersburg : </li></ul><ul><li>Equivalent of 800 USD for one paper of part 1 and 2 (6-10 days ), including VAT and study materials </li></ul><ul><li>Equivalent of 950 USD for one paper of part 3 (6 days ), including VAT and study materials </li></ul><ul><li>2) Registration in АССА and annual payments : </li></ul><ul><li>57 Pounds – registration </li></ul><ul><li>57 Pounds – annual payments </li></ul><ul><li>3) Payment to ACCA for examination sessions : </li></ul><ul><li>Part 1 – 40 Pounds per paper </li></ul><ul><li>Part 2 – 48 Pounds per paper </li></ul><ul><li>Part 3 – 56 Pounds per paper </li></ul>Cost of Education
  37. 37. <ul><li>Diploma in Financial Management : </li></ul><ul><li>1) Education at IEI in St-Petersburg : </li></ul><ul><li>Cost of education of this diploma is equivalent of 3 000 USD for the whole course , including VAT , registration fee collected by ACCA , which is 235 Pounds , and study materials . </li></ul><ul><li>2) Payment to ACCA for examination session : </li></ul><ul><li>240 Pounds for all papers (60 Pounds * 2 exams + 2 thesis ) </li></ul><ul><li>3) Annual payments to ACCA </li></ul><ul><li>50 Pounds </li></ul>Cost of Education
  38. 38. <ul><li>Diploma in International Financial Reporting ( in English ): </li></ul><ul><li>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 . </li></ul><ul><li>Diploma in International Financial Reporting ( in Russian ): </li></ul><ul><li>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 . </li></ul>Cost of Education
  39. 39. <ul><li>Chartered Certified Accountant : </li></ul><ul><li>Incomplete higher education </li></ul><ul><li>Adequate knowledge of English </li></ul><ul><li>Diploma in Financial Management : </li></ul><ul><li>Higher education </li></ul><ul><li>Adequate knowledge of English </li></ul><ul><li>Diploma in International Financial Reporting </li></ul><ul><li>Professional Qualification in accordance with National standards of accounting , OR </li></ul><ul><li>Diploma of higher education in corresponding field and 2 years of practical experience in accounting , </li></ul><ul><li>OR </li></ul><ul><li>3 years of practical experience in accounting , </li></ul><ul><li>Adequate knowledge of English (for Diploma in English ). </li></ul>Requirements of ACCA to students
  40. 40. <ul><li>The Institute for Enterprise Issues in St-Petersburg, Russia </li></ul><ul><li>191119, St-Petersburg , </li></ul><ul><li>Marata St. , H. 92 , Russia </li></ul><ul><li>Tel : (+7-812) 7033007 </li></ul><ul><li>Fax : (+7-812) 7033008 </li></ul><ul><li>[email_address] </li></ul><ul><li>[email_address] </li></ul><ul><li>www.ipp.spb.ru www.ippnou.ru </li></ul><ul><li>Director : Sergey Sokolov </li></ul><ul><li>Administrator of ACCA courses : </li></ul><ul><li>Yulia Fedina </li></ul><ul><li>Director DipIFR ACCA IEI : </li></ul><ul><li>Sergey Moderov </li></ul>Contacts Association of Chartered Certified Accountants www.accaglobal.com Ilya Yuferev tel. +70957375542 [email_address]

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