The%20Institute%20for%20Enterprise%20Issues%20Educational%20Programs

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The Institute for Enterprise Issues Educational
Programs
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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.
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Educational programs of ACCA Association of
Chartered Certified Accountants
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• Programs and qualifications of ACCA
• What is ?????
• Review of professional programs
• Why ?????
• Other similar organizations
• Programs of ????
• The Institute for Enterprise Issues (IEI)
  St-Petersburg, Russia
• Programs of IEI
• Terms of registration
• Cost of educations
• Requirements of ???? to students

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What is ?????

• Why ?????
• One of the largest international associations of
  professional accountants and financial
  specialists
• Offices in 70 countries
• On 1 December 2003 ???? 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

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• ???? offers to study both basic qualifications
  as well as continuous professional development

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Basic qualifications

• Certified Accounting Technician
• Charted Certified Accountant (ACCA)
• MBA (ACCA with Oxford Brooks University)

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Chartered Certified Accountant
Higher education
Exemptions
Part 1 3 papers
Part 2 6 papers
Secondary education
Accounting
Audit
Part 3 (on choice)
3 papers out of 4
Part 3 (obligatory)
3 papers
Bank
Insurance
MBA Oxford
Education
Financial services
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MBA - ACCA

• Combined program by ???? and Oxford Brooks
  University
• Any member of ???? may obtain ??? in 21 month
• Executive education (without interruption from
  work)
• Possibility to study through Internet
• ACCA qualification is recognized all over the
  world

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Programs of professional development

• Diploma in International Financial Reporting
  (DipIFR)
• Diploma in Financial Management (DipFM)

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The Institute for Enterprise Issues

• Founded in 1992
• Professional programs of education in accounting
  and finance one of the strongest features of
  the colledge
• Accredited by ???? Registered Tuition Provider
  for 2004, 2005
• Technologies of IEI have been awarded Gold
  Approved status by ACCA in 2004

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Programs of IEI in St-Petersburg, Russia

• 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)

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Certified Chartered Accountant

• Core qualification
• International recognition
• Both fundamental theoretical and practical
  knowledge

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Certified 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

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Course content Part 1
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
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Course ContentPart 2
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
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Course contentPaper 2.1.

• 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

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Course contentPaper 2.3.

• 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

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Course contentPaper 2.4.

• 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

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Course contentPaper 2.5.

• 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

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Course contentPaper 2.6.

• 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

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Course contentPart 3
Subject name Days of study
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
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Course contentPaper 3.1.

• Audit and Assurance Services
• (on choice)
• Codes of professional and business ethics
• Recent tendencies in audit business
• Requirements of International Standards on
  Auditing to clients engagements
• Application of Audit Standards

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Course contentPaper 3.5.

• 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

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Course contentPaper 3.6.

• 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

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Course contentPaper 3.7.

• Strategic Financial Management
• Sources of finance
• Evaluation of capital allocation investment
  decisions (NPV)
• Risk management
• Cash flow management and liquid assets
  management
• Evaluation of companys financial position

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Diploma in Financial Management

• 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 ??????? ????
  renewed
• Diploma is granted to more than 10 000 managers
  internationally

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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 days
Paper 2 Performance Measurement 6 days
Paper 3 Financial Strategy 6 days
Paper 4 Risk Management 6 days
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Course contentPaper 1.

• 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.

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Course contentPaper 2.

• 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.

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Course contentPaper 3.

• 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.

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Course contentPaper 3.

• Risk Management
• The drivers behind an organisations 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.

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Diploma in International Financial Reporting
(DipIFR)

• ???? 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

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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

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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 ?????? ???????? joint ventures

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Cost of Education

• 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 ???? 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

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Cost 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

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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 ????, 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.

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Requirements of ACCA to students

• 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).

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Contacts

• The Institute for Enterprise Issues in
  St-Petersburg, Russia
• 191119, St-Petersburg,
• Marata St., H. 92, Russia
• Tel [phone]
• Fax [phone]
• smoderov_at_ipp.spb.ru
• info_at_ippnou.ru
• www.ipp.spb.ru www.ippnou.ru
• Director Sergey Sokolov
• Administrator of ACCA courses
• Yulia Fedina
• Director DipIFR ACCA IEI
• Sergey Moderov

Association of Chartered Certified Accountants
www.accaglobal.com Ilya Yuferev tel.
70957375542 Ilya.yuferev_at_accaglobal.com