Tuesday, April 9, 2013

ACCA: SMEs Need To Be Finance-Ready To Access Funding

KUALA LUMPUR, April 8 (Bernama) -- The Association of Chartered Certified Accountants' (ACCA) new report has shown that small-and-medium enterprises (SMEs) with well-developed finance teams achieve faster, more sustainable growth.

Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=940294
Published: April 09, 2013

In a statement, the ACCA said the new report, entitled "Accountants for small business", highlights the critical role the SME finance function plays at different stages of an SME's growth in attracting investment and helping them "emerge from the shadows".

ACCA Head of SME Policy, Rosana Mirkovic, said the role of the accountant in an SME setting goes well beyond the basics of bookkeeping as they are central to providing insights into the business at all stages.

Mirkovic noted a well-run finance function staffed with appropriately trained people makes SMEs more creditworthy and investment-ready.

"Accountants who help a new start-up get off the ground will play a very different, but equally critical role when that business is in full, sustainable growth mode.

"It is for this reason that ACCA trains its members to be skilled in a broad range of abilities to make them complete finance professionals," Mirkovic added.

The ACCA also revealed that the SME sector is a major employer of finance professionals in its own right.

It said although only about 13 per cent of ACCA members' careers start in SMEs, 45 per cent of members, including 54 per cent of chief financial officers, have at some point in their lives worked for an SME.

-- BERNAMA

No comments: