FEBRUARY 2013

THE POWER OF
INFLUENCE
HOW TO MANAGE
YOUR MANAGER

SECTOR VIEW
WORKING IN
BANKING
AN ACCA QUALIFICATIOn

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class (part-time students) at the next available sitting at no extra cost. Please note that the revision course will cover the failed paper and cannot be used for any other
papers. ** T&Cs apply, see website for details. iPad offer is available to eligible students on qualifying courses while stocks last. This promotion has not been endorsed
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ACHIEVE MORE. BECOME MORE.

editors
choice
Welcome to the February issue of
StudentAccountant
This issue includes a feature on the banking sector
useful information if youre considering a career
in this area. We also take a look at the soft skills
required to manage your manager. We have a
feature on ACCAs international recognition and we
speak to students and members who have moved
careers as a result of this.
For those of you expecting exam results, the
waitis nearly over. If you register to receive your
results by SMS or email, you will receive them
on Friday 8 February. Make sure youve set your
preferences in your myACCA account so you can
get the results as soon as possible.
This issues Learning Centre includes some advice
for balancing your studies with work, and we also
include information about the Professional Ethics
module and the practical experience requirement.
What better time to assess your progress to date
while youre waiting for exam results?

We have a number of new technical articles

for you to take a look at relevant to a range of
papers, including some important updates to
Paper P6 (UK) and Paper P6 (CYP), and how to
start at the right level on the Foundation level
papers. We also highlight our subject-specific
videos to help you practise your exam technique
and links to the technical article archive.
Noticeboard contains important information
about annual fees, exam results, exam entry,
MyExperience and the Oxford Brookes degree.
We hope you enjoy this issue of Student
Accountant. If you have any feedback,
pleasecontact us at studentaccountant@
accaglobal.com

magazine, please email us at

Victoria Morgan
Editor, Student Accountant magazine

Published by the Certified Accountants Educational Trust in cooperation withACCA.

The Council of ACCA and the publishers do not guarantee the accuracy of statements made by contributors or
advertisers, or accept any responsibility for any statement which they may make in thispublication.
No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any
means, electronic, mechanical, photocopying or otherwise, without prior written permission of the publishers.
CAET 2013 ISSN14730979

WELCOME | CONTENTS
TECHNICAL | COMMUNICATION

08

10

dispatch

features

06 GRAPHICS NEWS
08 PICTURE NEWS
10 NEWS ROUNDUP

24 SECTOR VIEW:
BANKING
28 INTERNATIONAL
RECOGNITION
WITH AN ACCA
QUALIFICATION
34 MANAGING YOUR
MANAGER

learning
centre
24

12 EXAM TECHNIQUE
14 AFFILIATE PROFILE
16 
PER: MAKING PROGRESS
18 PROFESSIONAL ETHICS
20 ACCA CAREERS

28
20

16

SA technical article archive

All technical content from Student Accountant is

on ACCAs website

PRACTICAL EXPERIENCE

34
Student Accountant | FEBRUARY 2013

Why not log into your myACCA account to record your

experience using the online recording tool MyExperience?

EMAIL US YOUR
FEEDBACKanAT
t@
studentaccount
accaglobal.com

JOIN ACCAs
Facebook
page

Find out h
ow other A
CCA
students p
lan their st
udies.
Join at ww
w.faceboo
ACCA.Offic k.com/
ial

CONTACTS
Dean Westcott | President
Barry Cooper | Deputy President

50

technical
40 TECHNICAL
RESOURCES
Access the technical
article archive at: www.
accaglobal.com/en/
student/publications/
sa-archive.html

resources
47 NOTICEBOARD
ESSENTIAL
INFORMATION
ABOUT ACCA AND
YOUR STUDIES
ACCA Connect,
exam entry,
subscriptions,
recording your PER,
rules and regulations
and important
information about
the OBU degree
programme

ACCA CAR
EERS
Upload yo

Martin Turner | Vice President

ur
global care CV, access
e
and find ad r opportunities
vi
in accoun ce on careers
tan
at www.acc cy and finance
acareers.c
om

Helen Brand | Chief Executive

Editorial Team
Victoria Morgan | Editor
Glen Patterson | Deputy Editor
Jackie Dollar | Design Manager
Jane C Reid | Designer

QUAL
TUITIO ITY
YOUR R N IN
EGION
See th
e fu

Kate Jenkinson | Editorial

Executive
www.accaglobal.com

ll list o
f ACC
Appr
Partne oved Learnin As
rs st
g
uden
beginn
ing on t tuition,
page 4
2

Jamie Ambler | Digital Editor

29 Lincolns Inn Fields
London WC2A 3EE
United Kingdom
tel: +44 (0)20 7059 5700
42

email: info@accaglobal.com
www.accaglobal.com
email: info@accaglobal.com
publishing and Advertising
Adam Williams | Publisher
Anthony Kay | Production Manager
For all advertising-related matters
pleasecontact Nick Willmer:
tel: +44 (0)20 7902 1673

49

email: nickw@educate-direct.com
email: nickw@educate-direct.com

DISPATCH | GRAPHICS NEWS

31% indonesia

MALAYSIA SMEs outwArd bound

Nearly a third of Malaysian SMEs
plan to expand overseas in the next
three years, according to a United
Overseas Bank survey. Projected
GDP growth rates of6.3% and 8%
respectively for 2013 make Indonesia
and China the most popular countries
for expansion.

24% China
13% Singapore
11% thailand
11% india

global businesses to put more eggs in asia pacific baskets

With growth in Asia Pacific continuing to impress, global multinational corporations are shifting their investment
budgets towards the region, according to the latest Asia Business Outlook Survey by The Economist Corporate
Network. China and India remain the top two regional destinations for investments, with Indonesia a close third
and Malaysia fourth. The graphic here shows the top 13 investment destinations in Asia Pacific and by how much
global multinationals say they intend to increase their level of investment there.

15.2%

54.1%
india

53.5%
indonesia

Taiwan

21.4%

43.0%

Hong kong

malaysia

26.2%

38.6%

Japan

thailand

73.8% china
27.0%

37.7%

Australia

Vietnam

28.1%
Philippines

28.9%
South Korea

Student Accountant | FEBRUARY 2013

34.8%
Singapore

insecure about security

The human element is one of the biggest causes

of information security risk, according to Deloittes
Blurring the lines: 2013 TMT Global Security
Study. Levels of third-party involvement, the
growth of mobile devices and cloud computing,
and insufficient privacy protocols all increase risk.

78% 74%
Number and
type of third
parties

increased
use of mobile
devices

200 m

use
twitter

70%

Lack of
sufficient
awareness

rs

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number rs one of the
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perfect partners at the top

Traditional stakeholder relationships are still

considered the most important by senior finance
staff, according to the Finance leaders survey report:
December 2012, published by ACCA and the Institute
of Management Accountants. www.accaglobal.com/
transformation

Happy 30th

The internet quietly celebrated its 30th birthday

on 1January. It began life when the US defence
departments Arpanet network switched fully to an
internet protocol suite communications system.
Above are some figures rounded up by the UKs
Metro newspaper.

9
7

DISPATCH | NEWS IN PICTURES

UK
UK
The five-star Lough
Erne hotel and golf
resort in County
Fermanagh, Northern
Ireland, is the venue for
Junes G8 summit of
world leaders
CHINA
A waterfall in central
Chinas Hubei province
freezes over as the
country is hit by the
lowest temperatures in
almost three decades

china

AUSTRALIA
A firefighter is engulfed
by flames ashe
protects a property
in New South Wales
as fires raged across
the south-east of
thecountry

Student Accountant | FEBRUARY 2013

AUSTRALIA

UK
UK
London Underground,
the oldest subterranean
railway in the world,
celebrated its 150th
anniversary. The
picture shows workers
tunnelling through clay
to carry out extension
work in 1937
FRANCE
Actor Grard
Depardieu was granted
Russian citizenship
after baulking at a
proposed75% tax rate
in his native France.
Russia has a flat tax
rate of 13%

US

FRANCE

US
President Barack
Obama winked as
he arrived to make a
press statement on the
passing of the fiscal
cliff bill, which will raise
$620bn in tax revenue
CHINA
The 29th Harbin
International Ice and
Snow Festival one of
the largest in the world
opened on5 January
in Chinasnorthern
Heilongjiang province

CHINA

DISPATCH | NEWS ROUNDUP

acca awards bank with
global accreditation
Standard Chartered Bank has
joined a distinguished group of
organisations that have achieved
global Approved Employer (Trainee
Development Gold) status
from ACCA in recognition of the
support they provide to employees
worldwide who choose to train
to become ACCA members. This
means that all Standard Chartered
finance and accounting employees
registered as students with ACCA
will receive valuable support in
their ACCA studies and gain the
necessary practical experience to
acquire the range of competencies
required of finance and accounting
professionals in business today.
Helen Brand, ACCA chief executive,
said: ACCA greatly values the
opportunities Standard Chartered
provides to ACCA students and
members worldwide to gain
an internationally recognised
qualification and to pursue varied
and rewarding careers.
global Audit problems
Problems with audits are consistent
across the world, according to a
global survey of inspection findings
published by the International
Forum of Independent Audit
Regulators. Common weaknesses
in audit include lack of consistency
and failure to identify root causes
of negative findings. Issues of
concern discussedbetween national
inspection bodies include professional
scepticism, group audits, revenue
recognition and the role of the
engagement quality control reviewer.
The report found that inspections
of international firms audits varied
according to jurisdiction.
African expansion predicted
African governments success in
reducing their debts puts them
in a strong position to grow their
economies in the coming years,
International Monetary Fund (IMF)

recruitment a battleground
Low unemployment, high staff
turnover and competition for
good candidates will continue to
be challenges for employers in
Hong Kong in 2013, according to
recruitment firm Hays.
With the Hong Kong labour
market remaining in a state
of full employment in 2012
(official unemployment figures
hover around 3%), finance
professionals, engineers and
arange of IT specialists will

bein demand in 2013 along

with procurement and supply
chain roles.
Marc Burrage, regional
director of Hays in Hong Kong,
said: Employee retention is a
priority for 2013, regardless of
hiring plans, with our research
showing local candidates are
still happy to move jobs within
a year or two of joining an
employer to gain a new title or
more money.

Specialists in the IT sector will be in demand in Hong Kong in 2013

managing director Christine Lagarde
said during a visit to Malawi. State
debts in Africa have fallen from an
average of over 100% of GDP to
under 40% in the last 12 years.
Governments have also succeeded
in cutting inflation and more than
doubling foreign exchange reserves.
The IMF predicts growth in
sub-Saharan Africa of 5.25% this
year, rising to 6% in some of the
poorest countries.
Asia returning to supremacy
By 2030 Asia will be well on its way
to returning to being the worlds
powerhouse, just as it was before

Student Accountant | FEBRUARY 2013

1500, so projects the Global Trends

2030: Alternative Worlds report by the
US National Intelligence Council of
the Office of the Director of National
Intelligence. The report notes that
it took Britain 155 years to double
gross domestic product per capita,
with about nine million people, while
the US and Germany took between
30 and 60 years with a few tens
of million people. India and China,
however, are doing this at a scale
and pace not seen before, with a
population 100 times that of Britain.
In addition, by 2030 the majorities in
most countries will be middle class
rather than poor.

Jonathan Simons
Kaplan ACCA ULE student
1st in World, ACCA P7, Dec 2011

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LEARNING CENTRE | EXAM TECHNIQUE

GETTING PREPARED FOR YOUR STUDIES

COMBINING WORK, STUDY AND EXAMS
Many ACCA students combine ACCA study with a full-time job
but as prizewinning student Akosua Frempong-Kore explains,
this does not mean exam performance has to suffer

Name:
Akosua Frempong-Kore
Current career status: 
Third year associate,
KPMG Ghana, Accra
Prizewinner:
Paper P1 worldwide, June 2012

How long have you been combining

work and study?
I have worked for KPMG since
leaving school and started my ACCA
studies when I joined. Finding time
to study can be difficult as although
my job is extremely rewarding,
it is also very demanding. I am
involved in the audit of several
companies and so tight deadlines
often mean working in the evenings
and at weekends, with assignments
running back to back and not all
of these are based in Accra.
What coping strategies do you use?
I download podcasts and audio
lectures on to my iPod and listen
to these when commuting, and
I reserve weekends for lectures
these are my main form of
tuition as I cannot attend lectures
duringthe week because of my
hectic schedule.
I also make sure I meet all my
work deadlines so that any spare
time is free for study, rather than

spent catching up with my in-tray.

I also now know how important
it is to say no to any additional
responsibilities that could affect
my studies, especially near an
exam not just from work, but also
from my church and from other
clubs and societies. This is not
about shying away from my duties
but about prioritising in order to
achievesuccess.
Most importantly, I make the
most of the study leave I receive
from KPMG by completely isolating
myself no phone, internet, TV,
friends or family. It is not easy but
itis effective.
How important is a supportive
employer?
It is very important that an
employer is supportive and
recognises the value of the
ACCA Qualification, as then
they understand that you need
to focus on your studies as an
examapproaches.

Dont feel guilty about taking a break

make an effort to relax during free time
and reconnect with family and friends
Student Accountant | FEBRUARY 2013

KPMG Ghana provides financial

support and exam leave; if a
student works for an employer
unfamiliar with ACCA, then the most
useful support to ask for is study
time and, if possible, that work
experience is matched to exams as
this improves understanding. If you
can put learning into action then
knowledge retention and exam
success is much more likely.
Given the demands of your
schedule, is leisure time
stillimportant?
A break is important, especially
near an exam. I always take a
day off from my studies to have a
pedicure and watch a movie, as I
find this rejuvenating, and helps
if Im feeling overwhelmed. Dont
feelguilty about taking a break
make an effort to relax during free
time and reconnect with family
andfriends.

Flexible part-time ACCA packages

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iPad offer is available to eligible students on qualifying courses while stocks last. This promotion has not been endorsed by Apple Inc. iPad is a trademark of Apple
Inc., registered in the U.S. and other countries. Offer expires on 28/02/2013. * LSBF Pass 1st Time Guarantee ensures that in the event of failure in the paper, you will
be able to attend a free re-sit course (full-time students), or a free revision class (part-time students) at the next available sitting at no extra cost. Please note that the
revision course will cover the failed paper and cannot be used for any other papers. Singapore and all UK Campuses.

ACHIEVE MORE. BECOME MORE.

13

LEARNING CENTRE | AFFILIATE PROFILE

Nawsheen Choomka
MAURITIUS

Affiliate Nawsheen Choomka reveals all about

her plans for a career fighting corruption,
thanks to her ACCA and law backgrounds

What is it that first attracted you

to accountancy?
Accountancy was one of my
favourite A-level subjects. I really
enjoyed devising balance sheets
and doing accounts.

How did you first hear

aboutACCA?
My father was keen for
me to register with ACCA
while I was completing my
college studies and my elder
sister, who was an ACCA
student, recommended
the qualification to me. I
registered with ACCA in
February 2008 andI passed
my final exams in June 2012.

 What do you hope to do once

you have qualified as an
ACCAmember?
I am currently studying law
while working towards the ACCA
Qualification, and I would like
to use the skills and knowledge
I gain from both specialisms
to help me realise my dream
of working for a regulatory
body, such as the Registrar of
Companies or the Financial
Services Commission. I also
plan to apply for roles at
statutory institutions such as
the Financial Intelligence Unit
or the Independent Commission
Against Corruption where
having a background in law and
accountancy will enable me to
become involved in complex
and challenging assignments.

What challenges did you

encounter while studying the
ACCA Qualification?
The main challenge has been
carefully balancing my ACCA
and law studies, especially when
considering that the exams for
both took place during the same
month. Although my exams have
been scheduled closely together,
I have managed to organise
myself effectively.

How did you maintain a study/

life balance?
The key has always been time
management, self-discipline and
effective planning. I believe that
achieving a balance is essential
to succeed. I have enjoyed my
studies, and look forward to
putting into practice all the
knowledge that I haveacquired.

Where do you see yourself in

five and 10 years?
In five years, I hope to work for
an established institution in
Mauritius. In 10 years, I would
either like to be an expert in my
chosen field or will have set up
my own internationally renowned
accountancy and law firm.

Student Accountant | FEBRUARY 2013

What is your strategy for

achieving the practical
experience requirement (PER)
for ACCA membership?
I follow a structured step-by-step
procedure to master each and
every performance objective.
Gaining real-life work experience

is essential to developing my
accountancy skills.

Would you recommend ACCA to

others? If so, why?
Definitely. In Mauritius, many
sectors are experiencing
a downturn. Yet, with
the incorporation of an
everincreasing number of
firms, both domestically
and internationally, skilled
accountants will always be in
demand. Also, the nature of
the ACCA Qualification means
that anyone can study for it
whileworking.

If you could invite three

people to dinner (living or
dead) who would they be?
They would be my late
grandmother, whose wish
it was to see me complete
my studies and become an
accountant; Prince Harry
because he is single; and
Shah Rukh Khan, my favourite
Indian film actor.

What do you like to do in your

spare time?
I like to watch films and play
sports. I also undertake some
voluntary work by training
college students in basketball.
I am an avid basketball fan
and I also play badminton
every week. I attend culinary
classes and will soon begin
swimming classes.

Naomi Smith
Kaplan Live Online student

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LEARNING CENTRE | PRACTICAL EXPERIENCE

MAKING PROGRESS
2012 saw the launch of My Experience, ACCAs improved online
platform for recording your practical experience. Why not take
time to reflect on your practical experience requirement (PER)
achievements so far?
When My Experience was launched
in May last year, one of the many
benefits of the new platform
was that you could now record
your practical experience in one
simpleand user-friendly online
process you simply record it as
you progress.
With 2013 well under way, why
not take stock and assess your
PER progress so far? How many
performance objectives have you
managed to achieve and how many
have you left to complete? Perhaps
you have yet to fully engage with
My Experience if so, why not take
a moment to remind yourself of the
improvements that ACCA has made
to the process of recording your
practical experience?
Understanding and recognising
the desired outcomes for each
performance objective, as well as
how you will go about achieving
them, will put you in a better place
to complete your PER without fuss
and within a reasonable timeframe.
Proper planning
The development plan section in
My Experience has been designed
to help you focus your efforts and
ensure you make the most of the
time you spend working towards
thePER. Here are some tips to get
you started.
Take the time to read through
the performance objectives, with
particular attention to those you are
considering selecting for your four
Options performance objectives.

Then sketch out various factors that

might influence your success in
achieving each objective.
Ask yourself:
Which Essentials performance
objectives will I be most likely to
acquire with minimum hassle?
Which will be the most
tricky, and why? How might I
overcomethese?
Which Options performance
objectives tie in most cleanly with
my job, and might therefore be
easier to achieve?

IF you find yourself

facing a scarily
extensive action list,
break down each
task into its
components
Apart from my workplace mentor,
who else might help me? If my
workplace mentor has offered to
put a word in for me to get the
experience I need, what can I do
to help him or her sell the idea
of, say, a secondment to another
team leader?
What resources are available from
ACCA that would help me? How
can I access these resources?
What resources are available for
my workplace mentor?
When am I going to concentrate
on each performance objective?

Student Accountant | february 2013

How many can I feasibly handle

atany one time?
How will I know when I have
developed sufficient expertise
orcompetence in certain areas
tobe able to complete the
relevantchallenge questions
andobtain sign-off from my
workplace mentor?
Preparation is key. If, after this
initial period of introspection,
you find yourself facing a scarily
extensive action list, break down
each task into its components. Plot
your key milestones and build in
safety nets that allow you to get
back on track if you fall behind.
Be gentle with yourself
If you discover that you have been
overly ambitious about certain
objectives, it is important to
regularly review your progress
towards completing your PER,
revising certain dates or goals so
that you dont feel that you are
perpetually scrambling to catch up.
Read through the regular member
case studies that are published in
Student Accountant, featuring those
who have already completed their
PER. Of course, everyone will have
their own approach what works for
one person may not work for others.
But what they virtually all share
is recognition that planning is the
beststrategy.
Get yourself on track

DATES FOR YOUR DIARY

This month we will be taking your questions
on the experience requirements for
transferring to ACCA membership.
Do you have a question concerning the My Experience tool
or the Professional Ethics module? Perhaps you need advice
on finding a suitable workplace mentor to help you achieve
your practical experience requirement (PER).
If so, join us on ACCAs official Facebook page on:
19 February, 810am*
(*UK times)
20 February, 46pm*
Access ACCAs Facebook page

17

LEARNING CENTRE | ETHICS

Ethics and the

ACCA student
As a professional accountancy body, ACCA must ensure that
its students understand what it means to work and act
professionally and ethically in the workplace. We explain why
the Professional Ethics module is such an integral, and now
mandatory, component of the ACCA Qualification
As an ACCA student, ethical and
professional development starts as
soon as you register with ACCA.
The ethics theme is maintained
throughout the ACCA Qualification.
To complement this, ACCA
developed the Professional Ethics
module to form part of your ethical
development as a professional
accountant. The module allows you
to test your ethical knowledge in a
series of real-life situations.
On completion of the Professional
Ethics module, you are required to
reflect on your learning and give a
statement about your experience of
completing the module.
As you may need time to think
about the material, the module can
be worked on in several sessions. You
are given access to the Professional
Ethics module as soon as you
become eligible to take Paper P1,
Governance, Risk and Ethics. It is
recommended that you take it at the
same time as, or before, Paper P1.
Integrity and
professional behaviour
Integrity and professional behaviour
are two of the five fundamental
principles of professional ethics.
For you as students this means
that you must be straightforward,

honest and fair when dealing with

ACCA in the following areas:
Supplying valid information for
the purpose of your admission as
a student.
Providing authentic information
for the purposes of gaining
exemptions from any
ACCAexams.
Conducting yourself properly in
all exams, using fair practice.
Making regular and honest
submissions relating to the
practical experience requirement
(PER) in My Experience.
Diligently working through and
completing the Professional
Ethics module, independently
reflecting on your own personal
experience and learning.
Paying all due subscriptions and
fees in a timely fashion.
It also places an obligation on
you to properly conduct yourself
in exams and in the completion
of all requirements (including the
Professional Ethics module) of the
ACCA Qualification.
How to avoid
disciplinary action
To comply with the ACCA Rulebook
and with the fundamental principles

Student Accountant | february 2013

of professional behaviour expected

of ACCA students, certain minimum
standards of behaviour are expected
from students completing and
submitting their Professional
Ethicsmodule.
These minimum requirements are
as follows:
Work through the module
independently and at your
ownpace.
Read and complete all
sectionsfully.
Take adequate time to ensure
thateach section is properly read,
understood and completed.
Undertake and complete all
exercises and selftests diligently,
including those requiring the
completion of text boxes.
Recap on any material where
there are any obvious gaps in your
knowledge or understanding.
Complete the reflective statement
responsibly and entirely in your
own words.
Ensure that you describe your
learning experience honestly
andobjectively.
ACCA audits Professional
Ethics module submissions. Any
submissions that contain reflective

The value of the Professional Ethics

module is to familiarise potential ACCA
members with the ethical dimensions of
professional accountancy and the wider
responsibility of the accountant
statements that are far too short,
inappropriately written, or deemed
not to be the original work of the
student, will be investigated and
will leave students submitting them
potentially liable to disciplinary
action. This could ultimately lead

to them being removed from the

student register.
Students should especially make
sure that their personal learning
statement is not copied from other
sources, but is reflective of what
they have learned.

The value of the Professional

Ethics module is to familiarise
potential ACCA members with the
ethical dimensions of professional
accountancy and the wider
responsibility of the accountant to
the client, to ACCA, to the profession,
and above all to promoting public
value and the public interest.
The module is intended to be taken
seriously as a development resource
and as a reflective exercise. Although
a mandatory element of the ACCA
Qualification, it can also be used as a
flexible resource to return to and use
whenever it is required.

19

TECHNICALCENTRE
LEARNING
| COMMUNICATION
| ACCA CAREERS

Taking the PLUNGE

You have got your CV, cover letter and social media
profile primed and you are ready to dive head first
into your accountancy job search. Now it is time for...
The hunt
Be proactive, imaginative and
persistent. It helps to be a little
thick-skinned too.
Accountancy jobs arent in the
habit of seeking you out, and while
it is important to search through
advertised positions, there is
evidence that 80% of jobs dont get
advertised, so you need to hunt them
out. When it comes to searching for
an accountancy job, dont just rely
on ads.
Here are some ways to sniff
out those buried roles:
network, network,
network. The
importance of
networking
cannot be
emphasised
enough,

according to the successful

professionals who have been
interviewed on ACCA Careers
(PeterMoller at Deloitte and
Evgeniya Mironova to name two).
Alumni and relatives
Dont be afraid to call up old
university friends and even those
relatives you only see every few
years at a family wedding. You
would be surprised at how helpful
people can be if you are connected
to them, either by family ties or
university associations.
Be inquisitive
Write short letters as well worded
as you can, accompanied by a CV,
introducing yourself and your skills
to companies. It is a speculative
approach that may turn up a few
surprise opportunities and is
yet another way to increase your
network. It may seem like a lot of
work and futile when you
hear nothing back,

Student Accountant | february

DECEMBER2013
2012

but if just one of those letters lands

on the desk of someone about to
post a job ad, and you are just what
they are looking for, it will make it all
worthwhile. For this approach to be a
success, you need to make sure your
CV is in tip-top form and contact
small firms they will probably be
more responsive to this approach
than large firms. You also need to do
your research: know the company
and the name of the person you are
writing to; find out if they went to
your old university or if you share
some other connection (played for
the same local football team, is
a friend of your older brother or
sister), and point this out in your
introductory letter.
Online-offline
You need both an online and an
offline presence. This is simply
another way of saying network,
network, network. Do it via social
media and email, and get in
touch with old friends, bosses
andteachers.

21

LEARNING CENTRE | ACCA CAREERS

Network, network, network. The
importance of networking cannot be
emphasised enough, according to the
successful professionals who have
been interviewed on ACCA Careers
Referrals
When you are doing the networking
rounds and making contact with all
these people, dont be afraid to ask
to be referred on. The person you are
speaking to may not be able to help
you directly, but they may well know
someone who could use your skills.
What is the perfect job
anyway?
Ah, the dream accountancy job! But
what exactly is it and how do you
know when you are ready for it? While
it is good to have goals and direction,
be careful that your outlook does
not narrow from being too focused
on attaining one role. Be sure that
while you are working towards the
perfect accountancy job you are
also open to all the challenges and
opportunities that will arise along the
way. You never know there may be
an accountancy job that is perfect for
you that you had never considered.
Also, be prepared to take a step
backward to reach your perfect role.
Sometimes one route wont seem to
work for whatever reason, so go away
and attack it from another angle, with
new skills and experience to bring to
the table.
Are you experienced?
Employers want it and candidates
need it but experience is not always
that easy to find. In a tough labour
market, employers can be very
fussy about who they hire, so work
experience can give you the edge.
Good universities, professional
qualifications and technical skills
can be prerequisites that many
people have, but work experience is
always valuable.

How to get work experience

From a one-day-a-week job in
a local accountancy firm to a
monthlong work placement or a
summer internship with a Big Four
firm, such work experience all
adds incredible value to your CV,
proving that you are committed,
proactive and enthusiastic. It also
shows you have office experience,
can work with people and know
the basics of certain roles. And
that tells an employer they wont
have to spend as much time or
money on training or integrating
you into a team, making you much
more appealing.
TransfeRable skills
Work experience looks good on
your CV and teaches you invaluable
professional skills. But what about
when you worked as a cashier at
your local supermarket, or a waiter
in a restaurant? Dont ignore these
as having little to do with a career
in finance. Many experiences in
life provide us with skills, and
they may be ones that employers
find extremely important. They
are the kinds of skills that, in
addition to an education, help
make a wellrounded candidate.
Sothink about the leadership skills
you learnt when captaining the
football team, or the
interpersonal skills you
gained from working
in a bar. Do you have
transferable skills?
Extra-curricular
activities
Transferable skills can
be gained through

Student Accountant | february 2013

extracurricular activities. Joining

societies at university looks great on
your CV, as does doing charity work.
Also think about blogging to
increase your online profile. It is not
just about sharing your daydreams
with an audience of 10friends
comment and engage with people
who are studying or working in
your field. Offer advice, start
discussion groups, hold meetings
with likeminded people and try to
support each other. Such activities
will provide you with further skills
and will look impressive on the CV.
Check out our career bloggers
So there is the big picture... it
is now time to start building your
candidate profile. Take your time, get
it right, and good luck in landing that
accountancy job.

USEFUL LINKS:

Peter Moller Deloitte
interview

Evgeniya Mironova,
EY interview
Network your way to CFO
Work experience tips
Transferable skills

Register you
r CV on
ACCA Caree
rs and
start your jo
b search

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ACHIEVE MORE. BECOME MORE.

FEATURES | SECTOR FOCUS

DURING RECENT YEARS, THOSE WORKING IN THE BANKING INDUSTRY

HAVE BEEN MADE TO FEEL A LITTLE LIKE SOCIAL PARIAHS. HOWEVER,
THE SITUATION IS AT LAST CHANGING

SECTOR focus:

BANKING
Student Accountant | FEBRUARY 2013

The financial services industry has

received a lot of flack in the media
and, unfortunately, accountancy and
finance professionals have been
swept along with the tide, even if
they were not directly involved,
says Andy Dallas, director, Robert
Half Financial Services. While
lingering opinions exist, those
aware of the role that accountancy
plays will know that accountants
are adding a lot of value in the
present climate.
That present climate is
demonstrated perfectly by a recent
Ipsos Mori poll, which found the
banking sector as the industry
global consumers feel is most in
need of greater regulation. The
24-country study found that 37%
of people globally think there still
needs to be more regulation in the
banking sector.
This continuing pressure, then,
as well as the regulatory changes
already seen within financial services
has brought regulatory, risk and
compliance professionals to the
fore, as has the role that finance is
playing as driving corporate strategy
and growth initiatives throughout
thebusiness.
Highly skilled accountancy
professionals are highly sought-after
within the sector, particularly if they
have specific product experience.
Most of the accounting roles that
exist in industry, such as financial
or management accounting, internal
audit and accounting operations, are
also present within financial services,
although there are some specialist
streams specific to the sector,
such as product control and fund
accounting, says Dallas. Regulatory
accountants are highly in demand
within the sector, with demand
outweighing supply, particularly as
the regulatory climate continues to
gain momentum.
As the financial markets continue
to evolve, financial institutions

are working to grow and maintain

profits while adjusting to
everchanging regulations and the
downturns effects on profitability
and performance. So how could you
help successful institutions reassess
their operating models and address
the effects of regulatory reform,
competitive dynamics, evolving
markets and increased expectations
from stakeholders?
Accountants have assumed
greater responsibility throughout the
downturn and now firmly occupy a
seat at the decision-making table,
says Dallas. They are being called
upon to optimise performance
throughout the business, providing
financial information, tools, analysis
and insight to executives, challenging

activities with compliance will

continue to pose a conundrum for
finance leaders.
Dallas adds that companies
are looking for accountants with
specific product knowledge plus a
solid understanding of the industry
as a whole, in addition to strong
accounting skills. Business-savvy
professionals who can provide a
commercial outlook are in demand,
as are those with an exposure to
technical accounting standards,
particularly within the regulatory
arena. Furthermore, strong systems
knowledge, particularly SAP, Oracle,
Hyperion Financial Management,
SUN and TM1 are a necessity
within the sector. Finally, financial
business partners who can work

Business-savvy professionals who can

provide a commercial outlook are in demand,
as are those with an exposure to technical
accounting standards, particularly within
the regulatory arena
their thinking, helping them make
more informed decisions and driving
business strategy. As such, financial
business partners are being called
upon within the industry to deliver
growth and return for stakeholders.
At the same time, finance leaders
need to balance these functions that
drive revenue with the requirement
to remain compliant with
regulatorychange.
During a time when the industry
is focused on growth, the cost for
businesses to remain compliant has
increased. According to a survey of
finance services executives, 53%
have increased their regulatory
spend compared to four years
ago, and financial directors are
spending as much as one day a
week managing regulatory change.
Balancing revenue generating

with various departments to deliver

efficiencies and growth will be highly
soughtafter in 2013.
The global nature of the ACCA
Qualification is a major plus
because it makes the qualification
very portable. Alongside this, the
emphasis on commercial awareness
that runs through the ACCA
Qualification is increasingly important
in banking and financialservices.
While salaries vary by role, years
of experience and product, overall
they are higher than the average
salaries on offer for accountants in
other industries.
What sector would you want us
tofocus on next?
Email us at studentaccountant@
accaglobal.com

25

FEATURES | sector VIEW

SECTOR VIEW: BANKING

THE VIEW FROM:

Simon Chipuriro, Treasury Analyst, Ubank, Johannesburg

Formerly TEBA Bank, Ubank has offered banking and financial services
for over 30 years, primarily to mining and rural communities in South
Africa, and prides itself on its social responsibility

Whats your role at Ubank?

As a treasury analyst I look
after the banks middle office,
as well as the Assets and
Liabilities (ALM) function. My
responsibilities are very varied
but focus primarily on balance
sheet optimisation and risk
management from providing
interest rate risk and liquidity
risk input for regulatory
reporting, to developing
and implementing treasury
risk strategy, including risk
reporting and the governance
process. I also help product
specialists understand and
define product characteristics,
develop and implement the
strategic assets allocation
process, and run a variety of
strategic and stress scenarios
to support decision making
within the bank.

Why did you decide to work

inbanking?
As I was growing up I always
admired banking staff, and
banks had a reputation for
being the best employers and
treating their employees well.
This reputation was confirmed
when I had the opportunity to
audit some banks during my
training, providing me with
further encouragement to

pursue a career in this sector. I

have now been in the industry
for almost 10 years.

 Whats the best thing about

working in banking?
Support for personal
development is a great benefit
for those working in banking;
many banks act as learning
organisations, providing a
wide range of assistance
for their employees, such as
mentorship programmes, and
other opportunities for staff to
further their studies and equip
themselves with knowledge.
Banking is also a very positive
career choice as it widens your
future options. I have noticed
during my career that it is easy
to get bored if you only work in
one area of business; banking
can help you gain experience
of different business functions,
and also equips you with the
skills required to succeed in
general management, if that is
a career path you want to follow
in the future.

Are there any disadvantages?

If you want to move outside
banking later in your career
you can find that commercial
organisations sometimes
prefer candidates with
industryspecific experience.
However, I do not think this is
a major disadvantage when
compared to the benefits
banking delivers. As ACCA
accountants are trained
to thrive in any industry
sector, alack of very specific
experience should not affect
ones competence.

In terms of studies and ACCA

exams, how supportive is the
banking sector?
From my experience, and the
experience of colleagues, most
banks are very supportive of
accountancy students, usually
providing financial support and
generous study leave. Many
banks are also ACCA Approved
Employers, which is very helpful
when students finish their exams
and need to complete their

From my experience, and the experience of

colleagues, most banks are very supportive
of accountancy students, usually providing
financial support and generous study leave

Student Accountant | FEBRUARY 2013

Johannesburg, South Africa

practical experience requirement
in order to gainmembership.

Does banking sector experience

give accountants particular
skills, especially transferable
skills?
Banking offers training in a
number of skills, including
treasury management, financial
reporting and control, balance
sheet and business performance
management, and also risk
and investment management.
You can also develop further
specialised expertise in areas
such as internal auditing,
forensic accounting, and
product management. All
these skills are internationally
transferable, and if you hope
to work abroad during your
career, you will find that many
of the skills gained while
working in banking are listed
as being in high demand by
many immigration authorities.
ACCA membership is also very

many of the skills gained while working in

banking are listed as being in high demand by
many immigration authorities
useful in this respect, as it
is internationally recognised
and easily meets immigration
requirements for accountancy
professionals.

What is career progression like?

In banking, your career could
go in a number of different
directions depending on the
skills you acquire. For example, if
you join the finance team as an
accountant, you could become a
finance manager and eventually
CFO. In the risk department,
opportunities include risk
manager, compliance manager
and chief risk officer, and there
are other career paths in internal
audit, forensic accounting, asset
management and investment
banking. In my opinion, it

would take an ambitious

accountant around five years,
post-qualification, to reach the
summit of their chosen career
and I have seen this happen,
more than once.
For me, the next step would
be to head up a balance sheet
management team, but at the
appropriate time I will consider
leaving banking to pursue a
more specialised career in
financial risk management
consultancy. I therefore hope
to move into practice and
gain a position within a major
accountancy firm I predict
great opportunities, and I can
use the skills I have acquired in
banking to progress my career
in this direction.

27

TECHNICAL| INTERNATIONAL
FEATURES
| COMMUNICATION
BENEFITS

ACCA:AN INTERNATIO

Student Accountant | FEBRUARY

DECEMBER2013
2012

ONAL QUALIFICATION
ACCA is proud of its international reputation a real benefit
for students hoping to develop their careers INTERNATIONALLY.
but what if you plan to stay at home? We look at the value of
international recognition, and consider how YOU can make
the most of this CV-boosting advantage
INTERNATIONAL OUTLOOK
We live and work in an increasingly
global community, and nowhere more
so than in the financial sector. Here,
as corporate reporting standards
develop along international lines, the
trend towards joined up thinking
now influences both financial and
narrative reporting strategies. Global
convergence is also evident in the
work of supra-national accounting
standards bodies such as the IASB,
and education standards such as
those issued by IFACs International
Accounting Education Standards
Board also reflect the reality of
an environment of cross-border
commerce and new technologies
designed to make the world an
even smaller place. As a result,
professional business qualifications
such as ACCA must have international
and multijurisdictional recognition if
they are to remain relevant, valuable,
and truly portable.
The globalisation of accountancy
affects every member of the
profession irrespective of where
they work, now or in the future,
and not just in terms of technical
knowledge. Some of the biggest
changes currently taking place
focus on what an accountant is and
does, comments Wendy Towner,
ACCAs head of business intelligence.
Increasingly, accountants are driving

owards greater responsibility to

be considered an integral part of an
organisation, enabling a business to
make the right financial decisions.
If this drive is to be successful then
it has to be in a global context, and
must reflect changing patterns of
employment in the sector. Our own
research shows that more people
than ever before work across borders
for multinational organisations, and
that more students and members
are now taking advantage of ACCAs
portability to work or study outside
their home market.
Ahead of the game
The ACCA brand has become
a trusted global benchmark
for accountancy training and
professionalism, and ACCA was
also the first accountancy body to
examine IFRS (in 1998). In terms
of appreciating the importance of
international understanding, weve
long been ahead of the game,
says Louise Farrow, ACCAs head
of marketing promotions. We
know that the world is shrinking
and that many of our students are

working in a global context, and

not only in commerce the public
sector, for example, is increasingly
dependent on external providers of
key services, and many of these are
global operators in their own right.
Even if international accountancy
issues are not immediately relevant,
it is an aspect of the profession all
students must engage with, says
Farrow: You must become familiar
with International Accounting
Standards because you will
undoubtedly draw on this knowledge
at some point in your working life if
not in your current job then at some
point in the future. Career plans that
are made while studying can change
quickly once in the world of work.
ACCA aims to equip its members with
the skills they need wherever their
career path takes them, especially
as many accountants now develop
portfolio careers, working across a
number of sectors and for a number
of employers. The international
understanding delivered by ACCA can
effectively future proof your career,
giving you the freedom to move job
when you want to.

In terms of appreciating the importance of

international understanding, weve long
been ahead of the game
29

FEATURES | INTERNATIONAL BENEFITS

Meeting employer expectations
Given ACCAs well-established, global
reputation, employers know what to
expect when considering employing
an ACCA student or member,
whether local or from overseas. The
ACCA brand represents consistency
in professional training, work
experience, specific knowledge
and broad experience. But ACCA
also provides the training required
for compliance with the global
accounting standards now used in
many countries. This represents real
value, as employers know that the
world of finance is international,
even if their business or sector is
not even the smallest business can
have clients, customers or suppliers
based anywhere in the world, with
internet trading an important
accelerator of the local/global
business model.
In addition, the national
and international networking
opportunities ACCA provides, both
face to face and through social
media, give employees the chance
to learn from their peers around the
world, sharing ideas, and learning
about innovations and best practice.
As a result, ACCAs international
recognition adds significant value to
a CV, and students should make the
most of this both when at work and
when job hunting. Employers should
know that the ACCA Qualification is
broad in scope, and gives students
and members the skills required to
work in different industries and in
different roles, concludes Towner.
But the technical understanding
of international accounting
practiceit delivers, together with
far reaching knowledge of a global
profession, are real assets that will
be valued whether the employer
operates inalocal market or
aroundthe world.

The ACCA brand represents consistency in professional training,

work experience, specific knowledge and broad experience
Student Accountant | FEBRUARY 2013

ACCAs international recognition adds

significant value to a CV, and students
should make the most of this both when at
work and when job hunting

FACTS AND FIGURES

Recent research from ACCA shows how relevant the
ACCA Qualification has become:
94% of employers agree that ACCA is a world class
organisation

92% of employers agree that ACCA is a respected
global brand

88% of employers agree that ACCA is relevant across
all sectors
86% of students agree that ACCA is international in

its reach and outlook

78% of students say that ACCA will give them the
skills they need for the job they want

77% of students agree that studying with ACCA has
given them transferable skills

74% of students agree that ACCA is a great career
choice for young people

31

FEATURES | INTERNATIONAL BENEFITS

MORE THAN JUST AN ADDED EXTRA

DIDZIS BERZINS

ACCA member,
financial controller
atan international
consultancy,
Riga, Latvia
Between 2006
and 2008, ACCA
member Didzis
Berzins (then a student) was on
secondment with PwC in Australia
as a senior financial auditor, as his
ACCA studies had enabled him to
fulfil a long-term ambition to travel.
ACCA definitely helped me in my
move to Australia, he comments.
The benefit of an international
qualification is that it is relevant
wherever you go and I found
working in Australia very similar
to working in Latvia, especially as
Big Four auditors are all guided by
the same International Standards
onAuditing.
Didzis returned to Latvia after two
years, working first for PwC in Riga,
then joining a major consulting
company where surprisingly his
ACCA membership and international
experience have proved even more
relevant, as Didzis explains: Im
now the financial controller for a
consulting firm that looks after
around 100 holding companies that
make up a major industrial group.
These companies are located across
CIS and European countries and
operate in sectors ranging from
metallurgy to hotels and leisure.
As a result, I now travel frequently,
dealing with service providers
all over Europe, where ACCA has
relevance to our partners as well
and shows that we are educated to
the same level.

Whereas his ACCA Qualification

was initially a passport to work
abroad, its international reputation
now makes it increasingly valuable
in Latvia: In a period of economic
downturn, when competition for
jobs is increasing, ACCA may be the
deciding factor. Most candidates
have a degree or an MBA, but ACCA
gives you real differentiation, and
in Latvia it may become a specific
requirement for certain finance
positions, as in most developed
countries, rather than just
recommended, making it even
more relevant.

DHAKSHAYENEE
THIEERAN
ACCA affiliate,
trainee associate,
KPMG, Colombo,
Sri Lanka
I was a full-time
student throughout
my studies, says
ACCA affiliate Dhakshayenee
Thieeran, passing all my exams
first time, and gaining a First in the
Oxford Brookes University BSc in
Applied Accounting. I completed
my final ACCA exam in December
2010 and, in order to gain my
work experience, I joined KPMG in
Colombo the following June where I
am now a trainee associate.
Dhakshayenee always wanted to
take advantage of ACCAs global
reputation, and so the move to
KPMG was strategic; not only did
Dhakshayenee want to work for a
leading accountancy firm, but she
also wanted to access international
career opportunities. I had first

If you can, join a global firm where you can

work abroad, even for a short time
Student Accountant | FEBRUARY 2013

decided to study with ACCA because

I hoped the qualification would
enhance my mobility and allow me
to work anywhere in the world. This
ambition has not faded and, as I
now work for a globally recognised
firm, I hope that when I am an
ACCA member I can travel to the
UK to continue my accountancy
career, she says, adding: I feel
I have the confidence to pursue
an international career as I can
combine my experience of different
industries and IFRS assignments
with the knowledge that ACCA is
globally recognised.
Dhakshayenee encourages
current students to make the
most of ACCAs global reputation
as she thinks that it undoubtedly
improves career potential. If you
can, join a global firm where you
can work abroad, even for a short
time, she says. This can help
your international experience, and
will enhance your career even if
you stay at home, as accounting
practices are becoming increasingly
consistent worldwide such as
Sri Lankas adoption of IFRS, for
example. This makes the exposure
to global standards and practices
gained through ACCA study,
together with its international
reputation, relevant to local
business as well.

JEFF TAN
ACCA member,
senior associate,
PwC, San Jose, US
Having ACCA on
your CV definitely
helps your
career; recruiters
know how hard it is to gain the
ACCA Qualification, and ACCA
membership shows you have
both tenacity and experience,

says ACCAmember Jeff Tan,

whose successful career not only
includesa major change of sector,
but also an international move to
join a Big Fourfirm.
Originally from Singapore, Jeff
started his career as a police
officer,but after a year in the force
decided to change to a career
where my value would actually
increase with age and experience,
he says. After completing most of
his ACCA exams while still serving
as a police officer, Jeff joined a Big
Four firm as an audit associate but
three years later decided to develop
his career further by moving
abroad, joining PwC in San Jose,
US. I hadnt appreciated the value
of ACCAs international reputation
until I began the interview process,
he comments. Not only is ACCA
considered an equivalent to a
US bachelors degree, but the
technical knowledge and practical
understanding represented by ACCA
provided essential differentiation
formy CV.
Jeff is now a senior associate
in PwCs audit and attestation
department, undertaking audit
engagements from start to
finish. Once again, my technical
knowledge is a significant
advantage, he says. I know much
more than those who entered
the profession directly from
university, and I credit this
to ACCA. n

THE EMPLOYERS PERSPECTIVE

pwc, Trinidad and Tobago
Susanne Mahabir,
director, assurance, PwC,
Trinidad and Tobago
Susanne has primary
responsibilities for learning and
development, and ethics and
business conduct.
The accountancy profession
is certainly becoming more
global and there is a worldwide
movement towards greater
economic, financial, trade and
communication integration.
The profession has had to
respond to this global trend,
with standardsetting bodies
aiming for greater convergence
of financial accounting standards
so that corporations increasingly
adhere to the same rules when
they prepare financial statements,
wherever they are in the world.
In Trinidad and Tobago,
it is very important for PwC
employees to gain an international
perspective of accounting and
business as our client base
includes many multinational
organisations, and we need this
perspective if we are to meet
their needs. Clients operating
in Trinidad and Tobago are
required to prepare financial
statements in accordance with

IFRS, and our audits are also

undertaken in accordance with
ISAs (International Standards
on Auditing), with the result
that our accountants use their
international knowledge every day.
When we hire new accountants
we value an internationally
recognised accounting
qualification such as ACCA and,
in fact, 99% of our qualified
accountants are ACCA members.
Having ACCA on a CV does make
it easier for accountants to apply
for jobs in another country as
ACCA is becoming increasingly
recognised internationally.
However, the ACCA Qualification
is just as valuable for accountants
who do not want to travel, given
the importance of international
standards in the accounting
profession, especially here in
Trinidad and Tobago.
As an FCCA, I have certainly
benefited from having the
ACCA Qualification it is highly
respected here, and there is an
expectation that ACCA members
adopt the highest standards of
practice and of ethical conduct. I
feel that these qualities certainly
make me highly marketable both
here andoverseas.

33

TECHNICAL| HOW
FEATURES
| COMMUNICATION
TO MANAGE YOUR MANAGER

THE POWER OF

INFLUENCE

Student Accountant | FEBRUARY

DECEMBER2013
2012

It is a well-known adage that people dont leave their jobs,

they leave their managers. Iwona Tokc-Wilde finds out how
to improve your job satisfaction and benefit your manager,
too by learning to influence upwards
Do you dread going to work? Do you
hope something better will soon
come along? If so, have you asked
yourself what exactly makes you
want to leave?
According to Deloittes recent
global talent survey, Talent 2020,
nearly one-third of employees are
dissatisfied with their jobs and of
these 26% are Millennials (people
aged 31 and younger) who plan to
leave their employers in the next year.
You may be surprised to learn money
isnt their main reason for seeking
pastures new it is lack of career
progression (27%), closely followed
by dissatisfaction with their manager
or supervisor (22%).
In the perfect world, you and your
line manager would be completely
compatible, says Neil Owen, global
practice director of Robert Half
Financial Services. You would have
similar personalities, common
goals and shared ways of working
and communicating. There would
be no misunderstanding and your
work would always be praised.
Unfortunately, this doesnt always
happen and, although you both have
equal responsibility for making it
work, sometimes you might have to
take the lead. Here is how.
Get to know them
If you have just started in a new job,
make sure you understand the bigger
picture by learning about the goals of
the larger organisation. Your manager
will have goals, too, set by the person
they report to. The first step in
learning to manage upwards is to
know what priorities and objectives
both your manager and your
managers boss have, says Heather
Townsend, executive coach and

coauthor of How to Make Partner and

Still Have a Life. Then find out what
they expect from you. This way, you
can ensure your work is consistent
with what they plan toachieve.
Get to know your manager on a less
formal level, too what makes them
tick and, especially, what stresses
them out. Bosses face problems and
challenges just like the rest of us,
says Owen. If you know what they are,
you will be better placed to respond
to the demands they make of you.

report on projects, but you really

need to find out when your manager
requires face-to-face meetings and
when a short email will suffice,
advises Owen. Keep in mind that
some busy managers dislike drop-in
visits and prefer to schedule meetings
in advance.
Effective daily or weekly
communication with your manager
is mostly about reporting on the
progress you are making with tasks
or projects. To discuss any broader

Bosses face problems and challenges just

like the rest of us. If you know what they are,
you will be better placed to respond to the
demands they make of you
Keep them in the loop
One of the reasons why people are
unhappy with their managers is lack
of communication (this goes both
ways). Youve got to keep it regular,
says Townsend. Set times when you
both sit down and update each other
on whats going on, and when you can
feedback to them in private if youre
upset or annoyed. If it was their
actions that upset you, dont tell all
and sundry, adds Townsend: Youll
only alienate them if you grumble
about them in public. Dont wait
for small problems to develop into
big crises, either. Tell your manager
promptly if you encounter difficulties
with a project or if it looks like you
might miss a deadline, says Owen.
New employees and those working
with a new manager may find it
difficult to gauge how often to
communicate. In most non-urgent
cases, weekly catch-ups are fine to

issues for example, training or

general feedback on the team and the
work you should request quarterly
meetings, says Owen.
Solutions, not problems
In a professional environment,
effective communication isnt about
running to your manager with every
little thing. Do some background
research first, especially if you have
questions to ask, says Richard
Williams, audit trainee at UHY Hacker
Young. You may well find the answers
for yourself and therefore not waste
your managers time. This approach
will also help in your learning and
professional development as you
will soon notice that you are likely to
remember more detail if youve spent
time looking into something yourself.
It is all about using your initiative.
When given a task, try to add
value if possible, says Williams.

35

FEATURES | HOW TO MANAGE YOUR MANAGER

You may identify a more efficient
way of working or spot something
that could be useful to your
colleagues. If you feel able, offer
to take on additional tasks. Your
support will be appreciated and
your manager will have more time
for other critical responsibilities,
says Owen. In fact, managers value
taking the initiative so highly that
some are willing to overlook any
mistakes that you might make
in the process. Sometimes, the
best way to manage your manager
is to just get on and do it, and
thenseek forgiveness afterwards if
you dont get it right,
saysTownsend.

AND IF YOUR MANAGER IS A PAIN?

In your working life you are likely
to come across managers who
are a nightmare and, seemingly,
unmanageable. They may criticise
your work constantly or even
get angry a lot and be unaware
of concepts such as praise,
gratitude, humour or teamwork,
says psychologist Graham Price
of Abicord Ltd. In short, they are
unpleasant, even aggressive.
Is there anything you can do to
help them change their ways?

Identify your
work styles
Handling a manager
who has a working
style different from your
own can be a challenge.
According to our research,
most workers prefer to
receive clear directions,
while a large minority like to
collaborate and some want
to do things on their own,
with minimal supervision,
says Owen. The trick is to
find the common ground
identify your work style, the
work style of your manager
and make some adjustments to
either match their style or to meet
in the middle. If you discover how
you can work best together, youll
enjoy your job and keep your
manager happy at the same time,
says Owen.
But what if your working styles
are polar opposites? What if you
clash? You and your manager are
bound to experience conflict from
time to time, says Owen, but
if youre tactful, respectful
and professional, youll
have a better chance of
establishing and maintaining
a mutually productive and
rewardingrelationship.
Student Accountant | FEBRUARY 2013

We all want to be liked and

respected and your managers
aggression may be partly driven by
a sense that they are not liked or
supported by their staff, says Price.
You can fight back but itll probably
get you nowhere. Trying to meet
their need to be liked and respected
will get you better results. Make
it clear that you want to support
them in meeting their goals,
advises Price. Be friendly and
courteous. Ask them about their
weekend. Give praise, say thank
you and invite them to join you and
your colleagues for a drink after
work. Sometimes you may have
to tread very carefully, especially
when giving feedback. Avoid overt
criticism, says Price. If you have
to give negative feedback, start
with I as in Im not blaming you but
Id appreciate your help to resolve
myproblem.
Dont jump to conclusions though
as your manager, just like everyone
else, could simply be having a bad
day. Part of the skill of managing
your manager is to know when to
approach them, and
when to stay well
away, says
Townsend. Learn
to recognise
the signs of
them being stressed
and find out how you can
relieve their stress levels.
Sometimes it can be as easy
as giving that little bit extra.
Stay on a little longer to meet
a deadline or offer to pick up your
manager some lunch, saysPrice.
Iwona Tokc-Wilde is a
freelancejournalist

How do you manage your

manager? If you have a story
to tell, email us at
studentaccountant@
accaglobal.com

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