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ACCOUNTANCY EDUCATION for micro, small and medium size enterprises. SUMMARY. Experiences Role of accounting / accountant in MSME What profile ? profile s ?. 3 stories . 1973 Coopers and Lybrand ( now PWC) 1991 Central Accounting and reporting : the World Bank 2009

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summary
SUMMARY

Experiences

Role of accounting/accountant in MSME

What profile ? profiles?

3 stories
3 stories

1973

Coopers and Lybrand (now PWC)

1991

Central Accounting and reporting : the World Bank

2009

Financial statements ESAA (Algerian School of Business)

slide4
1973

Master in Business Administration

With top grades in Accountancy

First supervisorevaluation:

« technicalknowledge : weak »

slide5
1991

Central Accounting and reporting : the World Bank

Recruitment : March 13

Complexity of activity: 123 currencies…

Year end : June 30

Financial statements:

issued: July 14

Approved by the board: July 21….

…..Vacation: july 25

slide6
2009

ESAA (Algerian School of Business):

100 students in Msc and 50 in EMBA (created in 2005)

Recruitment: april 2009

First and only Financial Statements (FS) presented to the boardfebruary 2009 (end of 2007 cumulatedsince the creation)

FS as of december 2008 presented to the board: january 2010

slide7

Explanation 1

The main objective of accountingis to providefinancial information to help the

users

to takebetterdecisions

slide8
Internalusers

versus

Externalusers

accounting in msme
Accounting in MSME

Quiteoftenaccounting not the priority

and oftenorientedtowards

externalusers

slide11

Accounting in MSME

Difficult for internalusers to takedecisions

as no formal informationavailable

slide13
Accountingsystemsshaped by the environment

variables such as :

Legal system

Code law

Common law

Relationship between businesses and providers of capital

History

Political and economicties

Size and complexityof enterprises

Culture and religion

slide14

ACCOUNTING EDUCATION

Bookeeping

Accounting

Financial Reporting

slide15

ACCOUNTING EDUCATION

Local rules in code laws countries

Accountingprinciples

IFRS

Bookeeping

Accounting

Financial Reporting

harmonization of accounting and of education
Harmonization of accounting and of education

As accountingisinfluenced by culture

It cannotbechanged by a decreenor a law

Oftentaught (especially in codes countries) on « how to do » with no much « thinking »

comparison of accounting text books in different countries
Comparison of accountingtext books in different countries

As accountingisinfluenced by culture

The approach of introduction to accountingverydifferentin the textbooks

Major problemswhenusingtextbooks of other countries

slide18
Accountingisat the end of the process.

If the processis not wellorganized and documented

It is impossible to have soundaccounting information

Explanation 2

in msme
In MSME?

Quiteoftenveryinformal (or non existent) atstart

Thennecessity to complywithlaws and tax ….

Recruting a bookeeper or contractingwith an externalaccountant

bookeeper
Bookeeper

If the processeswellorganized and documented:

  • Limited to financialaccounting on a day to day basis
  • No budget, no managerial information
  • No or lowanalysis
  • Oftenneed of an externalaccountant for the closing
external accountant
Externalaccountant
  • Compliance
  • Knowledge of all regulations
  • No need to deal withpaperwork
  • Confidence of third parties
conclusion accounting education
CONCLUSIONACCOUNTING EDUCATION

The smallest, the company….

the largest, the accountancyrole

The broadershouldbe the education

(management, organization, processes, IT etc…)

…in general the contrary

conclusion general management education
CONCLUSIONGENERAL MANAGEMENT EDUCATION

Why not educationspecialized for MSME?

Covering administration and finance

conclusion general management education1
CONCLUSIONGENERAL MANAGEMENT EDUCATION

And « marketing » to non accountants and entrepreneurs the importance of

largerrole of « accountancy »

for developing a sound business