CAN STAYING WITH THE SAME COMPANY TOO LONG SPELL

Celebrating International Day of Accounting with David Cameron, Vice President of the LCASS

International Day of Accounting is an annual celebration to commemorate the publication of Luca Pacioli's book on double-entry bookkeeping in 1494 which is the bedrock of modern day accounting. In the modern day, International Day of Accounting is about the appreciation of the crucial work Accountants do and the recognition of their importance for business longevity and success. This year, we caught up with David Cameron of EY's Restructuring Team and Vice Presidentof the Leeds Chartered Accountants Student Society (LCASS) to gather his advice for those in the early days of their accounting career and insights about all things ACA.Starting a Career in Accounting 1.What advice would you give to someone just starting their career in accounting?I would say the sooner you realise that all of the exams require a fair amount of work and can’t be blagged (no matter how easy you found A-levels or university), the better. ACA is tough but I think it is certainly passable for most people, as long as you put the work in. The next big piece of advice I would give is if you go into the initial mundane tasks, when you first start, with a positive can-do attitude, it goes such a long way. The people who go into tasks with that outlook often find they move onto much more interesting tasks, quickly. Finally, the last tip I’d give to anyone starting out in accountancy is start building your network straight away, not only will it benefit your career in the end when everyone climbs the ranks together, it is even more beneficial from a social point of view at the junior levels. People you meet at networking events will become your friends and just enhance your overall experience when you are starting out. 2.How can recent graduates make themselves stand out to potential employers?It sounds cliché but I think showing your personality in an interview and just being yourself is something people feel as though they shouldn’t do. I really believe that that’s by far the easiest way to stand out. The majority of applicants will also have a great CV, the way you will stand out is by the employer thinking that they will enjoy working with you every day. Picking an ACA Specialism 3.Can you share some insights on the different specialisms available whilst studying ACA?Audit and Assurance:Examining financial statements and processes to verify accuracy and provide confidence to stakeholders through regulatory compliance. Tax:Advice on tax planning, compliance or strategy, dependent on what department of tax you’re in. Transactions:This could be a role in Mergers & Acquisitions/Corporate Finance, Transaction Due Diligence or Restructuring. 4.How did you decide on your own specialism, and what influenced your choice?I work within the Restructuring service line and absolutely love it. I’d always had a big interest in how businesses work operationally, and Restructuring allows me to assist businesses through times of distress with the hope that we can help to provide a solution to save/improve the business. Being in the service line I am in, it has allowed me to think outside the box and use problem solving at work as there is never the same solution for each business in a time of crisis, with solutions ranging from running an accelerated sale process of the business to possibly refinancing its existing debt. What the ACA Has to Offer5.What are the key benefits of pursuing the ACA qualification?First and foremost, the comprehensive skillset you acquire through completion of the ACA qualification shouldn’t be overlooked as it allows you to apply knowledge you have learnt from topics/exams usually unrelated to your usual job role to situations where it is required or even personal situations. I believe that the practical work experience you gain (at least 450 days of practical work experience) whilst completing your ACA enables you to improve your technical skills at a far quicker rate as you are utilising knowledge you have learnt at work on a daily basis, to better your understanding of the technical aspects, something which you don’t get to do at university or school. I would say the largest benefit is realistically the career flexibility and opportunities it allows you to have access to. As mentioned above, there are so many different avenues that you can go down through having an ACA qualification. If you don’t like one role, you can quite easily try something different. 6.How does the ACA prepare accountants for the challenges both inside and outside of the profession?As touched on above, the comprehensive knowledge gained from an ACA qualification is fantastic and can be applied to so many different scenarios outside of an accountancy role, such as personal tax planning or even the strong financial acumen gained to assist with running your own business. ACA also of course reiterates the importance of ethical behaviour and integrity throughout your studying period which helps instil such traits into students. Learnings from this will help students make correct decisions at work or even in their own personal life when faced with difficult choices. Personal Journey into Accountancy 7.Can you tell us about your journey into accountancy and what inspired you to choose this career?I joined the EY Leeds Restructuring team back in 2020 via the school leaver programme. I probably got unlucky with the year I joined given we were in the midst of the pandemic, however, what I was certain of even back then was no matter what, I still just wanted to get into work rather than continue full time education. I was keen on the potential qualifications I would come out of university with; however, I knew that I had always much preferred working throughout school than the education side of things. I was drawn to the Restructuring apprenticeship due to the element of problem solving involved and the opportunity to leverage commercial skills. Admittedly, I wasn’t overjoyed about the prospect of 15 ACA exams, however, I knew the end goal was worth it and provided some incentive. Four years later and I have completed my ACA and my apprenticeship. I’d recommend this path to many, for the experience and level of qualification I’ve been able to obtain by such a young age, coupled with the opportunity to meet so many people that will be mates for life. 8.Looking back, is there anything you would have done differently in your career path?Nothing I would change that’s in my control. It would’ve been ideal to have joined at a time outside of the pandemic as it did effect the social side of things for the first year or so. To find out more about the ACA click here.Looking for your next career move in finance or accountancy? At Sharp Consultancy, our expertise lies in matching your potential with the perfect temporary, interim, or permanent position. With a well-established presence in Leeds and Sheffield, our seasoned team of consultants extends their services across Yorkshire and beyond. Don't wait for opportunity to knock, reach out to us TODAYand let's chart your career path together.

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How long is too long?It’s a classic ‘piece of string’ question and a conundrum that will have faced many candidates (and employers).At what point does staying with the same company no longer demonstrate that you are a loyal and committed employee but instead sees potential new bosses become critical of your long tenure?

In the same way as someone who has regularly moved from one role to another may find themselves having to explain their lack of longevity in a role, a candidate who has remained with the same company could find themselves facing questions about why they have never looked elsewhere.

Yes, bosses want employees who are committed and loyal but on the flip side, staying in same job ‘too long’ may also make them question the possible reasons why you haven’t searched out a career move before now.

Perhaps they may feel you will be too expensive salary wise – staying with the same company implies that you have been looked after financially.Do you lack drive and determination and have been content to coast along in a role that is comfortable with your feet firmly under the table?Maybe you are so used to doing things a certain way that you will unable to adapt to new approaches and will struggle to build relationships with new clients, contacts and colleagues?

You need to sell yourself positively and highlight to a potential employer how your long service has had a positive impact on your career so far and how it will be of significant benefit to your new boss and company.

Progression

How has your role changed and developed during your time with the company?Have you played a significant part in helping the team to grow and increase in number?What promotions have you received and what additional responsibilities have you taken on? You may have stayed with the same company but that shouldn’t mean that your job has remained the same throughout and it’s important to highlight how you have continued to seize opportunities to move your career forward.

Relationships

Demonstrate that you know your industry inside and out. You have worked with people for a long time.You are great are building and maintaining relationships.You know how to develop and cultivate relationships which are beneficial to your role and your company – these are highly sought after qualities in potential new employees.

Salary

Some would-be employers could consider a candidate to be priced out of the market if they have remained with the same company.Have they been too well rewarded financially to have stayed in the same place so long?Or have they not been paid enough which could perhaps indicate that there may be performance issues?If you have received regular pay increases demonstrate how these have been linked to progression opportunities but remember, if you feel that you are underpaid then it’s not necessarily a new employer’s responsibility to address this so have clear, well thought out reasons as to why you think you are worth more than your current employer is prepared to pay.

Aspirations

Employers place high value on employees that can recognise the link between their own career aspirations and the objectives of the business.Indicate what your personal career goals have been to date and how your current employer has been able to help you achieve these.Demonstrate that you have ambition and are ready to take on a new role in order to take the next step towards reaching your goals.

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