SERVICE AREAS Enterprise Development Accounting Reform Franchising Strategies Financial Services Local Economic Development Management Training Development Strategies

"The AEAR Project went beyond the original scope of work and introduced cost accounting and the beginnings of managerial accounting to the newly trained accountants within a selected number of Armenian enterprises. These accountants started to apply their new accounting skills in the decision-making process. The project was considered one of the most successful within the Yerevan Mission's portfolio."

--USAID Contractor Performance Report, Feb. 21, 2002

ACCOUNTING REFORM

Georgia Enterprise Accounting Reform (GEAR) Project
Republic of Georgia

This project was designed to be all encompassing accounting reform program. The project objective was to strengthen business enterprises through accounting reforms that including the adoption of the International Accounting Standards (IAS).

Sibley International managed a large team of accounting professionals that provided financial management, advice and training to several hundred micro, small and medium enterprise owners and managers. The Sibley Team, in conjunction with Georgia's Minister of Finance Office, introduced accounting reforms, completed hands-on enterprise-level assistance in conversion techniques for Georgian firms, initiated educational reforms and offered professional training. The Sibley team also created a progressive legal and regulatory framework intended to foster the creation of self-regulatory bodies that would further the growth of the accounting industry. All of these efforts helped increase user awareness of, and capacity for, utilization of accounting information during this three-year program that is regarded by USAID/Georgia as one of its "flagship" efforts.

Armenia Enterprise Accounting Reform (AEAR) Project
Republic of Armenia

Following the success of the Georgian accounting reform project, Sibley International managed a consortium that dramatically changed financial management and dialogue practices in Armenia's emerging market economy. The team converted Armenia's then current accounting and auditing systems into market oriented accounting for enterprise managers, financial sector professionals, and other institutions. Sibley worked directly with the Ministry of Finance and Parliament to develop and adopt International Accounting Standards (15 core standards within 5 months) as well as International Standards for Auditing as a major component of market and economic reform. The project merged two associations into a new entity, the Association of Accountants and Auditors of Armenia (AAAA), and eased the devolution of authority to this self-regulatory organization. Sibley professionals developed a comprehensive training program based on internationally recognized ACCA syllabus for international and national certification, as well as licensing. They used the ACCA model in order to reform the educational curriculum in the training of future accountants. Sustainability was ensured by transferred skill-sets and know-how to local Armenian auditing companies and enhancing the growth potential for Armenian accounting services through the incorporation of public awareness tools.

Accounting Training
Azerbaijan

Under a USAID-sponsored initiative with the Academy for Educational Development, Sibley International implemented a comprehensive accounting training program in Azerbaijan. Through an Azeri accounting association, Sibley trained accountants in Generally Accepted Accounting Principles (GAAP) and ACCA-based accounting.

Department of Commerce, SABIT Program Training
U.S.A.

The Department of Commerce's SABIT program organized a specialized accounting program entitled Business Management for Women directed at women accountants from the former Soviet Union. A Sibley specialist provided training to the selected participants in Generally Accepted Accounting Principles (GAAP) and International Accounting Standards (IAS) during a two-week period. Participants received a customized plan of instruction that included all aspects of financial reporting, including classification of assets and liabilities and presentation of financial statements, with special attention paid to the conditions faced by accountants from the FSU. Upon successful completion of the program participants received a certificate of training in accounting.