Technical resources

Proposed amendments to the international financial reporting standard for small and medium-sized entities

Comments from ACCA to the International Accounting Standards Board (IASB)

Innovations in access to finance for SMEs

This paper reviews a broad range of innovations in business financing and highlights examples of good practice in developed and emerging economies.

ACCA insights - overview

ACCA insights is a monthly ezine that reviews ACCA's work on the key policy issues of the last month.

Building a responsible payment culture

Comments from ACCA the Department for Business Innovation & Skills.

Zombie companies

As expectations of an economic recovery start to grow, so too does a concern that an army of businesses, so-called zombie companies, are holding back the recovery, tying up capital and resources.

E-invoicing adoption by UK SMEs: 2012–13 estimates

This report updates and expands ACCA’s 2012 estimates of e-invoicing adoption among UK SMEs, and investigates the relationship between e-invoicing and SMEs’ access to finance.

Financial education for entrepreneurs: what next?

This report considers how the global agenda on financial literacy, capability and education relates to entrepreneurs, and reviews the latest evidence on the effectiveness of such interventions.

Zombie companies: just a bad dream?

Q3 of 2013 saw the first signs of a recovery in the UK, and with it a debate about the existence and prospects of so-called ‘zombie’ companies.

Connecting capital markets: the Nairobi Security Exchange Growth Enterprise Market Segment

This paper draws on interviews with Nairobi Security Exchange (NSE) officials as well as coverage in the African and international financial press to tell the story of the Growth Enterprise Market Segment (GEMS), the Nairobi-based board targeted at small and medium-sized enterprises. It is part of a series of ACCA case studies looking into the shared experiences of regulators, exchange operators, investors and listed firms in emerging capital markets.

Five things we’ve learned about SMEs during the downturn

[10/10/2013] What has the past few years taught us about SMEs, and what will this mean for your business in the months to come?

Surviving the recession and the recovery: the SME story

This report provides a unique insight into how SMEs have survived and thrived the latest period of global economic developments and drawing lessons for the future.

SMEs and foreign exchange risk: are small and medium-sized accountancy practices up to speed?

This report explores the role of accountancy practitioners in managing the foreign exchange exposures of SME clients, and what the accountancy profession could do to improve its offering to small businesses.

Tapping into SME international potential

ACCA, July 2013. This paper presents a number of recommendations for increasing SME presence in international trade. Aimed at policy makers and broader business support stakeholders, the paper identifies critical success factors that hinder cross-border trade for SMEs, as well as areas in need of further development that remain under-exploited by policy makers and business owners alike.

In safe hands: the future of financial services

Gill Ringland from SAMI Consulting discusses the findings of a scenario analysis project carried out by her firm and the Long Finance Forum of Futurists (L3F).

Hedging FX risk: taking stock of the challenge for mid-caps and SMEs

The first output from ACCA's 2013 Trade Finance project is a research report produced in association with Kantox FX.

Accountants for small businesses

ACCA, March 2013. Accountants for Small Business is a campaign aiming to raise awareness of the value of professional accountants in SMEs. This report is the centrepiece of the campaign, which will build partnerships between ACCA and business associations, government agencies, and service providers in order to provide practical resources and support for SMEs investing in internal finance functions.

Building your financial capabilities: a guide for growing businesses

This guide is an essential tool for setting up and managing good financial management practices for small businesses. It outlines the systems and tools needed by the start up business, and continues through to the needs of the growing business developing more sophisticated financial capabilities.

Protecting stakeholder interests in SME companies

John Davies, March 2013. This report discusses how four different countries – the UK, the US, Australia and Singapore – see the role of accounting information in protecting third-party interests in SME companies.

Use of e-invoicing by SMEs

This report reviews the extent and the drivers of e-invoicing adoption among UK SMEs. Its concludes that UK SMEs have the potential to send hundreds of billions of pounds’ worth of e-invoices, which could improve their access to some forms of external finance. Nonetheless, adoption generally depends on the initiative of customers rather than SMEs themselves. This report was commissioned by the UK Department for Business for the UK National E-invoicing Forum. It was prepared by ACCA using evidence from the BDRC Continental SME Finance Monitor.

Embedding sustainability in SMEs

This paper presents the ACCA Global Forum for SMEs’ recommendations for the development of a series of SME-specific measures and approaches that will need to be adopted by governments, the business support community and the accountancy profession, if current efforts to engage SMEs in sustainable business practices are to gain significant momentum.

Managing cashflow guides

This collection of 10 guides can be helpful to small business clients as a quick reference and to practitioners as a trigger for more in-depth discussions on cashflow and related services.

Environmental aspects of sustainability, SMEs and the role of the accountant

ACCA research report 128, by J. Spence, G. Agyemang and L. Rinaldi.

High growth SMEs: understanding the leaders of the recovery

ACCA, July 2012. This report discusses the challenges, difficulties and the successes that Growth Oriented Entrepreneurs have in the US, European and BRICSA (Brazil, Russia, India, China and South Africa) and compares them to an international benchmark created by this study. The implications of the findings for governments, financiers and advisors are considered in terms of what support entrepreneurs need to build sustainable companies and thereby continue to stimulate their domestic and global economies.

Making capital markets work in emerging and frontier economies: case studies

This paper presents five case studies on the development of capital markets in emerging and frontier economies. These first-hand accounts reveal the crucial human, social and regulatory capital that capital markets rely on and demonstrate how much local regulators and operators around the world can learn from each other.

Access to finance for SMEs: a global agenda

ACCA, June 2012. This paper presents ACCA’s’ recommendations for the development of a visible and consistent global agenda on SME access to finance. It calls for intergovernmental organisations to develop and support a consistent platform for sharing best practice. It also encourages national governments to engage in this process, developing a long-lasting change in SME financing across the world.

In search of innovative solutions: report of the discussions from the FEE roundtable series 'access to finance for SMEs'

FEE SMP Task Force. This document reflects the outcome of debates held in expert roundtables organised by FEE, the Federation of European Accountants.

SMEs and their advisers: measuring trust and confidence

ACCA research report 127, by E. Schizas, R. Jarvis and N. Daskalakis.

Basel III and SMEs: getting the trade-off right

The provisions of Basel III, the global framework governing the regulation of bank capital, liquidity and leverage, will, for the coming years, determine the supply and cost of capital to businesses globally. The financial crisis presented policymakers with a choice between promoting business growth and safeguarding financial stability. This paper discusses how Basel III can be adapted to reflect the appropriate trade-off between the two.

The rise of capital markets in emerging and frontier economies

Capital markets promote economic development and growth by facilitating and diversifying firms’ access to finance. In order to do this they rely on institutions, including sound financial reporting and assurance, and these in turn depend on the accounting profession. This discussion paper considers how these relationships work and how policymakers can build on them.

Getting paid: lessons for, and from, SMEs

Paul and Boden, February 2012. This report brings together the experiences of business owners and managers as well as credit and finance professionals in businesses large and small, from the supplier's as well as the buyer's side. It finds that there is only so much government can do to protect small firms from abusive credit terms and late payment, but also a great deal that businesses can do for themselves. Published as part of ACCA's contribution to the UK Government's Finance Fitness Campaign.

SME internationalisation in Central and Eastern Europe

Rosana Mirkovic, February 2012. This report investigates both challenges and opportunities that exist in increasing the rate of SME international activity, with a particular focus on central and eastern Europe. Insights into the barriers to SME international activity, as well as policy recommendations and practical steps that can be taken to overcome these, will be of interest to the regional policy makers and business owners alike.

Get paid! A guide for owners and managers of small businesses

A joint resource from ACCA, Experian, FPB and ICM. As part of the government’s ‘Get Paid’ campaign, this ‘quick guide’ to avoiding or managing late payment, summarises the tips outlined in ACCA's 2012 report by Boden and Paul.

CRD IV and small businesses: revisiting the evidence in Europe

CRD IV is one of the most important pieces of regulation ever to come out of the EU institutions and its implementation could determine the shape of the recovery from one of the most challenging times in the Union’s existence. Based on its analysis of the likely impact of CRD IV on lending to SMEs, this paper endorses UEAPME’s reaction to CRD IV and makes a set of ten recommendations for European policymakers in order to address the shortcomings of current proposals.

Nurturing Europe’s spirit of enterprise: how entrepreneurial executives mobilize organizations to innovate

Forbes, December 2011. This report uses a survey of 1,245 European executives in order to assess how personalities, external support mechanisms and internal structures determine firms ability to innovate

Female perspectives in the global economy

Rosana Mirkovic, October 2011. This report examines how ACCA’s female membership has experienced the global economic conditions, by tracking their responses to ACCA’s confidence and recovery indices. The findings point towards some notable differences between the female and male respondents in the areas of business support and access to finance. These lead to lessons for policymakers and others working towards closing the gender gap, which is prevalent in much of the world’s economic activity.

A digital agenda for European SMEs

ACCA’s European members who work in the SME sector present recommendations aimed at increasing the demand and uptake of the digital solutions by European small firms in the areas of cloud computing, e-invoicing, social lending and e-commerce.

Framing the debate: Basel III and SMEs

The capital and liquidity provisions of Basel III are intended to shield the global financial system from a new financial crisis. Yet the extent to which they represent a good trade-off between financial stability and economic growth is still unclear. Policymakers still know little about the potential impact of Basel III on lending to SMEs, apart from the fact that it will be disproportionate. With the sector contributing half of the world's private-sector output, this uncertainty renders all existing impact assessments virtually irrelevant. In this discussion paper, ACCA considers how an impact assessment can be designed that would be 'about right' as opposed to very precisely wrong.

The future of microfinance in Kenya

Emmanouil Schizas, July 2011. ACCA's conference, 'Better Business Kenya 2011', considered the prospects of the microfinance industry. This paper summarises the resulting insights into four recommendations for the present and future leaders of the industry in Kenya.

ASB: FRED 43, application of financial reporting standards, and FRED 44, financial reporting standard for medium-sized entities

Comments from ACCA to the Accounting Standards Board, April 2011

Business advice to SMEs: professional competence, trust and ethics

ACCA research report no. 119, by R. Blackburn, P. Carey and G.A. Tanewski.

Accountants as providers of support and advice to SMEs in Malaysia

ACCA research report 118, by S.S. Devi and R.H. Samujh.

Living up to expectations

This report looks into the state of the small business sector and the different strategies being adopted by them and their advisers to enhance their fortunes.

Conceptualising self-employment income in the UK

ACCA research report 113, by G. Allinson, P. Braidford and I. Stone.

Intermediation of intellectual property awareness

ACCA research report 107, by R. Pitkethly.

Connections, collaboration and networks

Katherine Ng, 2009. On 12 March 2009 ACCA hosted a highly engaging ideas forum as part of ESRC’s Festival of Social Science, focusing on communication channels for creative businesses and the role of the accountant. Fostering debate between internationally respected scholars and leading practitioners, the roundtable was part of the successful Ideas Forum series advanced by ACCA’s Research Committee.

Intangible assets and SMEs

ACCA, March 2007. Report of the February 2007 seminar, where over 80 experts and interested parties gathered at the Department of Trade and Industry conference centre to discuss the issue of intangible assets and SMEs. The seminar covered a broad range of topics including how SMEs use the formal property system, how advisers can support SME's intangible assets and the use of intangible assets for accessing finance.

SME intangible assets

ACCA research report 93, by C. Martin and J. Hartley.