IT’S NOT OVER TILL IT’S OVER!

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.

Read article

Those of you who have known me for some time might be surprised to read that this is my first comment piece of 2021. Normally, I would be out of the trap like a rabbit during the first days of January with uplifting and inspiring words to share on how ‘new year brings new opportunities in your career’ and there’s ‘no better time to look ahead and shape the team around you for success’.

This year, however, has got off to somewhat of a different start.

I began 2021 much like I do every year. Phone calls to clients and candidates, exchanging pleasantries about the festive break, sending best wishes for the coming year and then moving on to discuss business. But during those early days of January, each conversation followed what was to become a very familiar path.

“So how are things?” I’d ask, to which I was met with, “We’re not really sure.”

I’d had comparable conversations with many of these same people pre-Christmas and the contrast in responses and mood could not be more stark. Then, there was a collective feeling that, let’s face it, 2020 had been – to put it politely – pretty rubbish all round; but as the end of the year approached there was a sense of optimism, the mood was decidedly upbeat, and you felt that a corner was very much about to be turned – “we just need to get through these next few weeks and 2021 will be a new start” (or words in a similar vein).

But then the hammer blow came – tucked into that week between Christmas and New Year when you are never quite sure what day of the week it is – that we were to be plunged back into a national lockdown.

Now you might say that this was not completely unexpected. In fact, you might argue that after the introduction of the tier system, the four week lockdown in November and the last-minute changes to relaxing the rules over the festive period, it was very much on the cards and was, by the majority of people, entirely expected. But despite all of signs that it was coming, it certainly knocked the wind out of a lot of peoples’ sails.

So why was that when we have effectively been living and working under enforced restrictions in some form or another for well over nine months now? The more people that I engaged with, the more apparent the answer became.

It was clear that nobody expected that this would all be done and dusted, as if the chimes from Big Ben would signal the time for COVID-19 to leave the party. But there was something about the shift from 2020 to 2021 that had given people something to hold onto as the end of the year approached, and that, come the new year, things could be and would be different. It was what had driven them on through those final weeks – possibly why for some the November lockdown was close to, as things currently stand, business as usual – as they drew on their last reserves of resilience to see out 2020 and be ready to face 2021 with renewed focus and determination.

And whilst for many, little changed from one day to the next following the lockdown announcement as they were already operating under some degree of restrictions, the collective psyche that we were leaving the rollercoaster of 2020 behind and turning a new page/making a fresh start/opening a new chapter (insert your own favourite cliché as you wish) which had helped people get through the final few weeks of the year had been whipped away overnight.

For many, the news that 2021 was starting with more of the same, took several weeks of mental adjustment whilst they got to grips with the situation, regrouped and reset their priorities. However the last week or so has seen the tide start to turn and my most recent conversations with those that I spoke with at the beginning of the year have been peppered with much more of the resolve and fight that will ensure that we emerge from this.

Any runners amongst you will have no doubt said at some point that the final miles of any race can be the hardest. It seems that there are still a few more miles of this particular race to be run – but we should all remind ourselves that we are now much closer to the end than we were at the beginning.

Sharp Consultancy specialises in the recruitment and executive search of finance and accountancy professionals. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for temporary, interim and permanent roles across the full spectrum of positions throughout Yorkshire and beyond. CONTACT US today and speak to a member of our team about your recruitment needs or next career move.