SPOTLIGHT ON…PART-QUALIFIED AND NEWLY QUALIFIED

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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In the first of a new series, we’ll be examining in detail a particular area of accountancy and finance recruitment and finding out more about the current market for both candidates and employers from one of our highly experienced consultants.

We caught up with Jack Curtis, Business Manager in our Sheffield office to find out more about the part-qualified and newly qualified market in South Yorkshire, North Derbyshire and surrounding areas.

Jack joined Sharp Consultancy in 2020 having previously spent several years with a well-known national recruiter. Having graduated from the University of Lincoln with a degree in Sport Science, he was keen to pursue and career which would allow him to combine his interest in supporting individuals develop their skillset alongside his natural flair for sales – recruitment proved to be an ideal fit.

At Sharp Consultancy, each consultant has a dedicated area of focus and expertise; tell us a little about the area in which you specialise?

Currently, I specialise in the placement of part-qualified and newly qualified finance and accountancy professionals across South Yorkshire, North Derbyshire and surrounding areas. I work with businesses – both on an exclusive and contingency basis – ranging in size from SME to global PLC.

What is your assessment of the current marketplace and what are your expectations of how the coming 6 to 12 months will look?

As we approach the end of 2021, many businesses have begun to recover incredibly well from a troublesome COVID induced 2020 – some have been more fortunate to surpass and beat sales targets and forecasts! Through regular conversations with many businesses from varying sectors in the region, I expect for this extremely buoyant marketplace to continue into 2022 – admittedly perhaps not at the same growth rate, but nevertheless still incredibly positive.

Many businesses are looking ahead with much more confidence, and, as they develop their growth strategies and targets for upcoming period, it is imperative that they invest and ensure the correct staff are in place to accommodate that business growth. As a result, we would expect to see continued market growth over the next 6 to 12 months.

What are the main recruitment challenges currently being faced by businesses in the region?

The main challenges being faced centre primarily around candidate availability and this is something which is being felt across all levels of accountancy and finance, from junior positions right through to senior appointments.

Another key challenge is the adjustment to or a return to pre-COVID working patterns. Over the course of the pandemic, the majority of workers - particularly those in office-based roles - have found that the enforced home working offered a level of flexibility and agility which many candidates have become accustomed to. Many businesses are now looking at how they balance employee flexibility with a return to the office and when recruiting for roles that are specific to being in the office five days a week, this can present additional challenges during the recruitment process.

What should employers be doing to overcome these challenges?

Employers need to recognise that there is currently a shortage of candidates which has come about as a result of a number of factors. Competition is stiff and we actively work closely with hiring managers to ensure they take as flexible an approach as possible when looking to bring in new team members. How this looks will vary – from a candidate’s technical experience to their personality to study support etc – and it is vital that we work consultatively with each organisation to prioritise candidates who are the ‘right fit’ for their particular needs.

Our in-depth and up-to-date knowledge of the marketplace enables us to provide the best possible advice and feedback to our clients and, by responding positively and flexibly, it is those business that have found themselves best placed when it comes to attracting and securing the highest calibre candidates.

What particular skills are currently in demand?

Commercial skillset is certainly in demand; businesses that are performing well understand the value of having a strong commercially focussed Management Accountant or Business Partner and what that individual can add into the organisation. Mitigating risk and maximising opportunities are at the forefront of any business looking to grow in today’s market!

What should candidates be doing to take advantage of this opportunity?

To take advantage of this, candidates should be asking their current employers for an insight and further exposure into the budgeting and forecasting process alongside as much stakeholder management as possible. This will enable them to develop their skillset far beyond the technical and reporting experience they will have to date and will add a new dimension to their accounting arsenal.

What should candidates be looking for when considering a new role opportunity?

Moving jobs can be difficult at the best of times – however if you establish what are the most important things that you would want from a move at the outset, it will ensure the rest of the process is far smoother. For example, if a key motivator in looking for a new role is the limited growth opportunities at your current organisation, ensure the businesses you are interviewing with provide enough clarity and detail around the progression opportunity, business growth and mentoring and development. I can’t recommend strongly enough the need to ask as many probing questions as possible – the recruitment process is most definitely a two-way street - and don’t be afraid to be assertive and seek out examples of previous or current employees and their journey within the business.

What advice would you give to a part-qualified candidate about the next stage in their career development?

Understandably, the salary package is a very attractive point of any offer made to a candidate – especially in today’s market. That being said, any part-qualified finance professional (regardless of background) should strongly prioritise the level of exposure that they will have in the role they eventually choose to accept. Money can be an overly influential factor and, unfortunately, can often mask other limitations within that specific role or business which could potentially harm a candidate’s development and studies further down the line.

The priority for any active studier, should be attaining their full qualification including getting their practical experience signed off and ensuring that they join a business which aligns with their values and will prioritise supporting their progressing to gaining qualification.

What advice would you give to a newly qualified candidate about the next stage in their career development?

Once qualified, it is key to understand that there is no immediate need to move employers and it is paramount that you take your time to reflect on your career to date and to understand what environments and roles you have thrived in and, more importantly, have enjoyed.

The next step in your career (post qualifying) will be pivotal in how your future career shapes up – for example taking a more ‘typical’ progression route through to Finance Controller or Finance Director or moving into a more specialised department such as Commercial/Finance Business Partnering through to Commercial Manager. Whichever path you choose, it is vital that you ensure you are moving for the right reasons and going into a business or sector in which you can progress and that compliments your interests and skillset.

Finally, what advice would you give to a client about recruiting part-qualified or newly qualified candidates?

When recruiting any part-qualified or newly qualified candidates, businesses need to ensure that they are prepared to and are happy to invest in that individual. For example, if you are looking to bring on board a part-qualified candidate who is actively studying, you will need to recognise that – from a technical point of view - you are not getting the finished article and their studies will need to be prioritised. As such they will need a supportive working environment and line manager who will empower them to progress and develop alongside a role offering full exposure to accounts that will enhance their studies, as they progress through their exams.

During the interview processes it is also important to mention that technical skills can be developed and improved but personalities are limited to change; it is pivotal to onboard the most suitable candidate that reflects the culture and values of the business, and I would strongly recommend investing in the best personality fit as possible.

To find out more about career and recruitment opportunities for part-qualified and newly qualified accountancy professionals, contact Jack on 0114 261 1700 or jackcurtis@sharpconsultancy.com.

Sharp Consultancy specialises in the recruitment of temporary, interim and permanent finance professionals. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for positions throughout Yorkshire and beyond. CONTACT US today to discuss your recruitment needs with a member of our team.