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Курс НБУ

Almost the only platform where they hear practitioners’ wishes

Olga Marchuk
economic observer


Six times, the All-Ukrainian accounting Congress was held in summer by the sea in sunny Yalta. But the seventh time, organizers decided to put together community of like-minded in high mountains, in paradise of the Carpathians - Bukovel. About event, which brings together accountants of Ukraine in professional community, giving them opportunity to influence existing laws and prospective legislation, spoke co-founder of the Congress, head of the All-Ukrainian accounting club "Balance", the founder and CEO of publishing and consulting company "Balance-Club" Apollon Pozov

What is the main goal of the congress?

- First of all - discussion of regulations governing accounting and tax accounting, involvement of members of professional accountants’ community to actively participate in their development. This will allow businesses to plan activity, improve profitability, make capital investments over a long period, and will also help to attract long-term investment in economy of Ukraine. On the other hand, we would like the leaders to understand why their accountants go to the Congress, what further a company gets from participation in the event and how accountants can help directors to make informed management decisions.

Today Ukrainian enterprises need to work on two indicators. The first – is growth of employees’ productivity. This can be achieved if people are training, while helping other units to achieve a common goal. And accounting is also interested in this, because chief accountant – is one of the leaders, who is responsible for the overall company’s performance.

The second indicator - we should increase efficiency and flexibility of business processes to more quickly implement our innovation. They may appear to improve the quality characteristics of product, service properties of company. And high quality, well-written information that is provided to the head to make informed considered decisions, can help this.

A key theme of the new Congress you told to be a consideration of how to ensure profitability and sustainability of business. Why this topic? What are the criteria for this choice?

- The main purpose of commercial enterprises, as it is written in the Civil Code, is profit. But every leader must understand at what point is an enterprise, according to profitability scale, and what needs to be done to climb higher and increase own income. In this case, important issues are how to deal with finances responsibly and how to manage capital, how to preserve available assets in enterprise, not devalue them tomorrow to Western investors have started buying for a song, how to increase assets and make our companies to be attractive for investment and competitive.

These issues are now coming to the fore in activities of each entity and the same concerns both managers and accountants. After all, company has two ways of development. First - do not fund anything, do not invest in company or new projects. Then little by little the company will go into bankruptcy. The second way – is to invest and expand. You can invest your own money out of profits or investment processes, both internal and external, to search for other acceptable ways of development. So we decided to make the main focus just on stability of doing business.

- You have stated that the VII Congress will have several distinctive features. Can you tell us more, what are they?

- Indeed, event will surprise participants with pleasant innovations. For the first time we hold a competition among accountants to define the best talent in three categories: public sector, commercial, as well as the best accountant on salary. Today we are in midst of the first stage of competition, and we can conclude that profession representatives are actively interested in event. On the first day of the Congress, we are to sum up and have awarding ceremony for the winners. The prize fund – is 50 thousand UAH. We assume that accountants should spend this money on training, getting a second education or professional development.

The second distinctive feature will be that the Congress will work for the first time in section for corporate executives, at which they will be able to learn how to avoid falling into trap of financial dependence on banks and other financial lenders, rejecting idea of expansion due to lack of cash injections and work in sweat in order to make ends meet. Answers to these and other questions can be obtained by participating in the workshop "Financial Management, which, according to bankers, you should not have to know". To perform this workshop, we invited international coach-consultant Patrick Valtin, owner and chairman of the “U-MAN Belgium” - Europe's largest company providing training and advice on management techniques. Patrick Valtin has an MBA (Master of Business Administration) from the University of South Carolina in area of human resources.

What, in your opinion, accountants will be able to learn at workshop of known top manager?

- As a leader I have to look forward, have to understand the future economic benefits. I calculate points that may be useful to company, investors, that company operates for the benefit of society. There always have to be an accountant next to me, with whom we are thinking in the same direction. And here, there are new challenges for accountants coming from both investors and legislation. Functions of accounting are expanding, requirements to information, compiled in accounting and reporting of interested users, are growing, and accounting, in form in which it exists today, is not able to perform all tasks.

Therefore, it is mandatory to introduce administrative accounting to obtain or provide information for management decisions. This is a novelty. This is the direction that should be developed, where accountants should "grow". Perhaps the question arises, why chief accountant must provide managerial accounting? As long-term implementation of managerial accounting practice certifies, this approach is effective. Accountant does not need to delve into the business processes in matters of financial and management analysis, etc. And I strongly believe that in 10 years an accountant, first of all, will be a financial manager, financial analyst, and financial forecaster. There is no other way in today's environment.

Another feature of congress will be a special workshop of Patrick Valtin "How to be healthy, beautiful and rich". Why do accountants need this topic?

- In current economic situation, we, like other companies, have to prove ability to maintain morale of employees, having a strong set of corporate values (the most important of which is responsibility, transparency, innovation and growth) and ability to constantly "rethink" ourselves by inventing new ways to control what is happening and respond to it. And the most important, which helps to keep one’s feet - is our belief and faith in us. Faith is the support for us, our employees and people around them. Outstanding people achieved fantastic results simply because they strongly believed in themselves or in accuracy of their beliefs.

I had to communicate with accounting community a lot, and findings are not very comforting. It turns out that the majority of accountants – are mostly people with low self-esteem. But they all want to be the first, to prove their rightness throughout, and are very nervous when they do not get to do it. As a result, accountants are slowly losing hope that they can make improvements in their activities.

They linger at work until 10-11 pm, very tired, and for some reason in most cases believe that no one sees their great work and do not think about how to facilitate it. But it's a little bit wrong. Communication in Congress allows accountants to understand that they have the same problem, so it is necessary to look together for answers to these questions.

How did representatives of government agencies respond an offer to participate in event, since a lot of questions were accumulated from accounting community for these years?

- We believe that if that accountants have to comply with applicable laws in the field of accounting, they should have the right to discuss these rules with lawmakers before they enter into force and become effective in practice, so you do not criticize, and, accordingly, work in legal framework, which is offered. Accounting congress allows profession representatives to suggest improvement or enhancement of regulations that govern areas of accounting and taxation, and participation of representatives of public authorities - to hear proposals.

For example, in the last Congress, 10 of 12 proposals made by accountants, who work in agricultural sector, were taken into account in development of regulations. I think this is a worthy achievement. But to my great regret, there are very few active accountants, ready to participate directly in creation of standard documents in preparation, not after their adoption, only 3-4% of the total number of profession members. For example, enterprising people, who can "change the world" – are up to 8% in the West.

Representatives of state bodies are taking part in event with pleasure, because they can hear wishes of practitioners. Especially as our Congress – is almost the only place of such level, where there is a direct contact with each other. And above all, both sides have an opportunity to discuss pressing issues in the field of accounting and taxation not in a formal setting, but in an atmosphere of informal communication.

Conversation was held by Olga Marchuk

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