IFAC Issues Paper on Developing Business Plans for Small and Medium Entities

    Filter By

     
     

    Press Releases/News Alerts

    May 25, 2006
    New York

    English

    PAIB Committee

     

    Find more news & events related to:
    PAIB

    IFAC Issues Paper on Developing Business Plans for Small and Medium Entities

    The International Federation of Accountants' (IFAC's) Professional Accountants in Business (PAIB) Committee has released a new information paper that provides guidance on developing a business plan for small and medium entities (SMEs), including how to develop a corporate values statement and manage business risks. The principles and practices in the paper, entitled Business Planning Guide: Practical Application for SMEs, were designed primarily, but not exclusively, for management operating in SMEs and for the small- and medium-sized accounting practices (SMPs) that service them. It was prepared in collaboration with the Malaysian Institute of Accountants (MIA).

    "The publication provides comprehensive guidance to assist SMEs and their SMP advisors in the business planning processes and features critical success factors to help them effectively manage their technological, human and financial resources. We would like to thank the MIA for their contribution to the development of the document," states PAIB Committee Chair Bill Connell.

    The paper describes how the business plan may serve as a performance tool on an ongoing basis and support a business in obtaining external funding. It also includes a checklist and a practical example of the structure of a business plan. The information paper can be downloaded from the IFAC online bookstore at http://www.ifac.org/store.

    IFAC is the worldwide organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC's current membership consists of over 160 professional accountancy bodies in 120 countries, representing more than 2.5 million accountants in public practice, education, government service, industry and commerce. IFAC, through its independent standard-setting boards, sets international standards on ethics, auditing and assurance, education, and public sector accounting. It also issues guidance to encourage high-quality performance by professional accountants in business.

     

    Related Resources

     
     
     
 

Important Note: Please read our website Terms of Use.

ALL RIGHTS ARE RESERVED. You may not reproduce, store or transmit in any form or by any means, electronic or otherwise, including photocopying, recording, or storage in any type of reference or information retrieval system, nor may you translate, modify or create derivative works or adaptations based on the text of any file, or any part thereof, without the prior written permission of the International Federation of Accountants (IFAC). Please direct permission requests to permissions@ifac.org. See also Permissions Information.