Jonathan Barber – Head of Business Development 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 Accountancy Practices

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

Definition – numbers RUSSIA 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 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 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 and students Worlds largest SME/SMP focused accountancy group Both Institutes FULL members of the International Federation of Accountants (IFAC) IPA Group 20th 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 Endorsed local programmes

Progression Routes to Membership Programme Membership level Available Diploma in IFRS for Accounting Professionals + Ethics Financial Accountant Executive (FAE) Certified Financial Manager + Ethics Certified Financial Director including endorsed tax unit + Ethics Associate Financial Accountant (AFA) IFA Level 4 regulated qualification + Ethics IFA Level 5 regulated qualification + Ethics Associate members of FULL IFAC bodies ACCA students who have achieved units F1-F9

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 Strength and reassurance from professional membership IFA / IPA Group can help