ACCA

Archives for SMEs

Surprisingly, the vast majority of European companies (around 98. 7%) are today exempted from statutory audit, covering almost half of all employees in Europe. It is also interesting to note that approximately 1.4 million audits are performed each year while the EU mandates only 0.3 million and that the audit exemption threshold varies according to… » read more

Posted by cecilebonino

eXtensible Business Reporting Language (XBRL) is a tool designed for the digital communication and presentation of financial and business data. It has been developed to allow users throughout the world to easily access timely accurate and relevant financial information from both world-wide and local organisations. However, although internal use and basic forms of digital reporting… » read more

Posted by cecilebonino

The European parliament will vote on the 25 March on the report to amend EU Commission’s proposal to amend Directive 78/660/EC on the annual accounts of certain types of company. However , if efforts to reduce or eliminate burdens – where their identifiable net benefits are exceeded by the costs of compliance – are supported,… » read more

Posted by cecilebonino

From 1 January 2010, Spain will take over the rotating presidency of the European Council for six months and be the first of a new ‘trio’ – comprising also Belgium and Hungary- to fully operate under the auspices of the Lisbon Treaty. It will face three main challenges: improving the single market with a special… » read more

Posted by cecilebonino

Access to finance for SMEs during the economic recovery is a very relevant issue as we start to move tentatively out of the recession. The prediction of reduced credit will affect the availability of finance for SMEs. This is a critical issue for the recovery of European economies. The issue about access to finance was… » read more

Posted by cecilebonino

While welcoming the Commission’s “European Economic Recovery Plan” to restore consumer and business confidence – in which the Commission pledges to reduce the burden on small and medium sized enterprises (SMEs) – and supporting initiatives to simplify company law, it appears that the current Commission Proposal to exempt micro-entities from annual accounts requirements precisely fails… » read more

Posted by cecilebonino

Equity, not debt, holds the key to financing the future of the EU’s small business sector. The economic recovery could prove to be business angel’s shining moment. Professor Robin Jarvis, Head of SME Affairs at ACCA (the Association of Chartered Certified Accountants) and member of ACCA’s Small and Medium Sized Enterprises (SME) Committee, in the… » read more

Posted by cecilebonino

G20 leaders face a number of challenges when they next meet in Pittsburgh in September. Not least is that they must not be over optimistic about the economic situation, since that could actually reignite the financial crisis with economic indicators still predicting declining global growth and contracting output. They also face the threat of a… » read more

Posted by cecilebonino

The European Parliament begins its tenure at a challenging time. However, Members of the Parliament have the opportunity to make a real difference, by taking steps to resolve the crisis and ensuring that the legislation and other structures that come out of it are robust and benefit, rather than harming business. The EU could provide… » read more

Posted by cecilebonino