HOW ENGAGING WITH A MENTOR CAN BENEFIT YOUR CAREER

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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A career mentor can bring huge benefits and, with their help and support, make a significant contribution to enabling you to achieve your professional goals. Not only can they be a real source of inspiration, but they will also have knowledge, expertise and advice that can help you at every stage of your career.

Identifying the right individual (or individuals) to provide mentoring support is crucial; we look at what you should consider before making your all-important choice.

Firstly, you need to determine what you want to achieve from your mentoring relationship and set yourself some clear and tangible goals of where you want to be in, for example, the next year, three years and five years. A good mentor will want to work with you to achieve a clear objective and as part of the exercise you will need to understand what support you need from them – this will help you focus your search and enable you to narrow down the key criteria to best identify someone suitable to your circumstances.

Next, you need to give consideration to where you can find your potential mentor. It could a senior colleague from another department or office location or it could be someone from outside your place of work such as a former colleague or a respected industry figure. There are several options available to help you find a mentor; your company may run an internal mentoring scheme, or you may feel comfortable approaching somebody in the business direct. Education bodies, training institutions, professional membership bodies and regional and industry networking groups may also operate programmes that can put you in touch with potential members. It is essential that you spend time researching all the options available before making your approach.

Your chosen mentor must someone that you trust as this is fundamental to you being able to build a successful relationship from the outset; much of what you discuss with them could be confidential and you will also need to open up to them about your weaknesses and be honest about what is holding you back.

Your mentor should make you feel comfortable and be someone that you can build a rapport with. They are very likely to have a career you admire – not only in relation to what they have achieved but also the route they have taken to reach their level. It is important to spend some time finding out about how your potential mentor likes to work and ensure they are prepared to give honest and constructive feedback in way that you will find supportive and motivational.

Many individuals become mentors as they want to give something back but remember that they want and need to get something from the relationship as well. Successful mentoring is very much two-way so consider what you can bring and offer in return – passion, enthusiasm and a keenness to learn will all contribute to a positive and successful partnership.

Typically, mentoring relationships will focus upon career advice, guidance on professional development, encouraging creativity and innovative ways of working, support with a specific project, suggestions on how to build upon a person’s strengths and address any weaknesses as well as learning and development of new skills.

It is important to remember that your mentor is offering to provide you with valuable help and support for free so it is essential that you are committed and open to learning from their advice – even when the feedback might be negative. Go into each session well prepared and with feedback on how you have put into practice what has been discussed in previous meetings.

There’s no set time frame to how long a mentoring relationship will last; some may have several mentors over the course of their career, others may work with the same person for many years.

Our top benefits of having a mentor:

They help educate you and support you developing new skills.
They provide you with someone to talk to about your career outside of your workplace.
Their advice is free.
They offer you a different perspective.
They are there to provide you with support.

Sharp Consultancy specialises in the recruitment of temporary, interim and permanent finance and accountancy professionals. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for positions throughout Yorkshire and beyond. CONTACT UStoday for expert advice on your next career move.