Small businesses are going global, and their accountants can help them on the journey; a look at recent surveys and trends, plus nine recommendations to help accountants enhance their ability to provide international services.
As part of its comprehensive review of the International Financial Reporting Standard for Small- and Medium-Sized Entities (IFRS for SMEs), the International Accounting Standards Board is seeking input from its SME Implementation Group.
Small- and medium-sized entities (SMEs) might think that sustainability is only relevant to large companies—that for a small business, the administrative and financial costs outweigh the benefits. Moreover their accountants will tell you it is a hard sell getting SMEs to embrace sustainability. However, SMEs that integrate sustainability into their core business strategy can benefit from lower costs, reduced risk, and new opportunities. And their accountants, typically operating in small- and medium-sized practices (SMPs), can play a key role in their journey.
IFAC SMP Committee Chair Giancarlo Attolini interviews five committee and IFAC Board members on the technologies that have and will most impact them.
In today’s global economy, small- and medium-sized entities (SMEs) are increasingly expanding their operations beyond their home jurisdictions, and they are looking to their accountants for support. As trusted business advisors, accountants can play a key role in supporting the internationalization of their SME clients.
New research by futurist Dr. James Canton highlights the relentless pace of change and disruption in business and accounting, and the steps accounting firms need to take to ready themselves for a future shaped by constant innovation and disruption.
As pressures have long been increasing for companies across all industries to form or join alliances, accounting practices might learn something by looking outside the profession.
To address challenges such as competition and pricing—and benefit from related opportunities—practices must broaden their services, particularly in the area of advisory, that are key to the sustainable success of their clients.
Survey results and global evidence demonstrate that advisory and consulting services are important to future practice growth for SMPs—but what types of services are most in demand and what does it mean for the future of SMPs?
For many practitioners the busy season is over and it’s time to relax and reflect—reflect on what the future holds for our great profession and consider whether, and if so how, to grow the firm. This future might rest in building advisory and consulting services. This article looks at some steps a firm might take to go about this.