7/30/2019 SA February 4
1/65
Working life
ACCA students At shell
Managing conflict
AvoidingtActics
cliMate change
PlAy your PArt
feBrUarY 2012
7/30/2019 SA February 4
2/65
Pbi b Ci Acca ecaia t i cpaiwi ACCA.
t Cci ACCA a pbi gaa accac am ma b cib avi, accp apibii a am wic ma mak i i pbicai.
n pa i pbicai ma b pc, i a ivam, ami i a m b a ma, cic,mcaica, pcpig wi, wi pi wi pmii pbi. CAet 2012 Issn 14730979
EditoRs cHoicEWelcome to the February issue of Student accountnt.
ti i ic a maagig c
cfic, cima cag a wkig a s.W a pak ompic p a ACCA e McKv ab w baacaiig a ig, a cimca pai wa ki a mga b mp a mm.
tcica c ic a mb aa aic, a k a bivaai va Pap F9 , aaaig Pap P5 qi.
Fia, mi impa w abam , J 2012 am a, am pc, imai ab a Bsc i Appi Accig m o Bkuivi i nicba ci.
Victoria Morganeditor, Student accountntmagazin
http://www.kaplanfinancial.co.uk/accasuccessmailto:[email protected]://www.kaplanfinancial.co.uk/accasuccess7/30/2019 SA February 4
3/65
CONTACTS
How do you
manage the work/study balance? Letus know your top tipsand you could bein a forthcoming SAfeature. Email us [email protected]
X
balancin
gact
emailyourfeedback
dispatch learning centre technicalfeatures
06 GRAPHICS NEWS* 24 MANAGING CONFLICT 12 RECRUITMENT REQUIREMENTS 30 TECHNICAL ARTICLES08 PICTURE NEWS*10 NEWS ROUNDUP
26 FOCUS ON SHELL 14 PROFILE: ED MCKEEVER28 CLIMATE CHANGE
AND ACCOUNTANTS16 WORKING LIFE
18 TALKING TECHNOLOGY
20 ACCA CAREERS
22 PRESENTATION TIPS
WELCOMEStudent Accountant February 2012
Why did you wantto become anaccountant,and what do youhope to be in thefuture? Emailyour story to us [email protected]
X
whatsyourstory?
38 NOTICEBOARD
resources
RELEVANT TOFOUNDATIONS INACCOUNTANCY AND ACCAQUALIFICATION STUDENTSAccess the technical articlearchive at: www2.accaglobal.com/students/student_accountant/archive
* Page spreads available in digital magazine only
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/students/student_accountant/archivehttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/students/student_accountant/archivehttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/students/student_accountant/archivehttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/students/student_accountant/archivemailto:[email protected]:[email protected]:[email protected]7/30/2019 SA February 4
4/65
nEwsR
ounduP
dIsPAtCh
nEw islAmicbAnking RulEs
AfRicAn councilsPRAisEd
sHiPPingAccountingoPAQuE
nEwcommunicAtionsstAndARd
PRAdA cHAiRs ifRsfoundAtion
RussiAAdoPts
ifRsRussia has adopted International
Financial Reporting Standards
(IFRS) in full, with the countrysMinistry of Finance, Minfin,
signing an order to implement
IFRS. This has now been
registered with the Ministry of
Justice, published in the countrys
official Gazetteand is now in force.
From this year, credit institutions,
insurers and listed companies
must issue a full set of IFRS-
consolidated financial statements.
10
http://www.kaplanfinancial.co.uk/accaanywheremailto:[email protected]://www.kaplanfinancial.co.uk/accaanywherehttp://www.accaglobal.com/content/dam/acca/global/word/sa_feb_d_pp10.doc7/30/2019 SA February 4
5/65
leArnInG Centre
REcRuitmEnt
We InVestIGAte the toP reQuIreMents FroMleAdInG reCruIters And hoW eMBrACInGtheM WIll helP Boost your CAreer ChAnCes.Alex MIller rePorts
toP tiPs
REQuiREmEnts
Click here to read more
12
http://www.lsbf.org.uk/SAhttp://www.accaglobal.com/content/dam/acca/global/word/sa_feb_lc_pp12.doc7/30/2019 SA February 4
6/65
s Acca Fba 2012leArnInG Centre
EmAilyouRfEEdbAck
PAddling to victoRy
How did you gEt into PAddling?
How do you mAnAgE youR tRAining And studiEs?How do you dEAl witH tHE PREssuRE?
As A succEssful sPoRtsmAn, wHAt mAdE you dEcidEto tAkE uP An AccountAncy QuAlificAtion?
wHAt ARE you HoPing to AccomPlisH oncE youfinisH youR AccA QuAlificAtion?
do you HAvE Any sPARE timE?
HAvE you AlwAys bEEn A HigH AcHiEvER?
wHAt do you find moRE ExHAusting studying foRAn ExAm oR RAcing?
How HAs tHE dEdicAtion And disciPlinE you HAvEHAd to Put into sPoRt HElPEd witH youR studiEs?
olyMPIC MedAl hoPeFul ed MCKeeVer sPeAKs to studentACCountAnt ABout the ChAllenGes he FACes WIth MAnAGInGA sPortInG CAreer WhIle studyInG For hIs ACCA QuAlIFICAtIon
At only 28, Ed McKeever has already endured years of sacrifice and dedication to get to the top of his game. He is the
current world silver medallist and European bronze medallist kayaking sprint champion, and is a strong contender to
land a gold medal at the London 2012 Olympics. The pressure is mounting...
do you know Any AccA studEnts wHo ARE comPEting innAtionAl sPoRting comPEtitions?
emai i ai [email protected] c a i a i s Acca.
PRofilE
Ed mckEEvER
14
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]://www.accaglobal.com/content/dam/acca/global/word/sa_feb_lc_pp14.docmailto:[email protected]://twitter.com/accanewshttp://www.facebook.com/ACCA.Official7/30/2019 SA February 4
7/65
leArnInG Centre
Location:
Stockton-on-Tees, UK
Passed final exams:
June 2004
Achieved membership:
October 2004
mAnAgER, bAinEs JEwitt
JoAnnE cotton
woRkin
glifE
Click here to read more
16
http://www.accaglobal.com/mailto:[email protected]://www.accaglobal.com/content/dam/acca/global/word/sa_feb_lc_pp16.doc7/30/2019 SA February 4
8/65
tAlking
tEcH
tAlk is cHEAP
IF you hAVe ACCess to An InternetConneCtIon And you Are stIll PAyInGA teleCoMs serVICe ProVIder For lonGdIstAnCe And InternAtIonAl CAlls then youAre oVerlooKInG An oPPortunIty to sAVeMoney PersonAlly And ProFessIonAlly
onlinE
s Acca Fba 2012leArnInG Centre
EmAilyouRfEEdbAck
Click here to read more
18
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]://www.accaglobal.com/content/dam/acca/global/word/sa_feb_lc_pp18.docmailto:[email protected]://twitter.com/accanewshttp://www.facebook.com/ACCA.Official7/30/2019 SA February 4
9/65
Rebecca GRantham
htet htet Win aye
Khadijat ezimoKhai
oveR 250 neW job postinGs have been added to
acca caReeRs in the last WeeK. bRoWse and apply
FoR all available vacancies on one platFoRmacca
ca
ReeRs
top tips
LEARNING CENTRE
ACCA Careerswelcomes newbloggers
maKinG the most oF
accas caReeRs poRtal
Click here to read more
20
https://www.accacareers.com/career_centre/?p=5081https://www.accacareers.com/career_centre/?p=5088https://www.accacareers.com/career_centre/?p=5296https://www.accacareers.com/browse-jobshttps://www.accacareers.com/browse-jobshttps://www.accacareers.com/browse-jobshttp://www.lsbf.org.uk/SAhttp://www.accaglobal.com/content/dam/acca/global/word/sa_feb_lc_pp20.dochttps://www.accacareers.com/browse-jobshttps://www.accacareers.com/career_centre/?p=5296https://www.accacareers.com/career_centre/?p=5088https://www.accacareers.com/career_centre/?p=50817/30/2019 SA February 4
10/65
cAREER
skills
How to tAcklEPERsonAlity QuEstionnAiREs How to tAcklE PREsEntAtions
toP tiPs toP tiPsdontWANTS dontWANTSwAnts wAnts
An InterVIeW PresentAtIon Is the IdeAloPPortunIty For you to shIne, to shoWCAseyourselF And your AChIeVeMents. It Could BeWhAt ClInChes the deAl, so you Must PrePAreWell And leArn to Control your nerVes, sAysIWonA toKCWIlde
these Are PoWerFul tools thAt AlloWeMPloyers to PredICt your BehAVIour At WorK.WIll you FIt Into the role? WIll you WorK WellWIth others? Are you A MAtCh or WIll youClAsh? IWonA toKCWIlde rePorts
Click here to read more Click here to read more
22
s Acca Fba 2012leArnInG Centre
EmAilyouRfEEdbAck
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]://www.accaglobal.com/content/dam/acca/global/word/sa_feb_lc_pp22.docmailto:[email protected]://twitter.com/accanewshttp://www.facebook.com/ACCA.Official7/30/2019 SA February 4
11/65
s Acca Fba 2012FeAtures
EmAilyouRfEEdbAck
WorKPlACe ConFlICt CAn not only MAKe your ProFessIonAl deVeloPMentnext to IMPossIBle But It CAn MAKe you unhAPPy, stressed And Ill. And IF eVerthere WAs A tIMe thAt you Could thInK, IVe hAd enouGh oF thIs, IM out oFhere And sWAn oFF Into Another JoB, 2012 Is not the yeAr In WhICh to do It
PRoblEm solvEd:AccA studEnt cAsE studyI have never had a good relationship with my boss.
She is extremely demanding and works incredibly
long hours and I dont think she has ever praised my
efforts. A couple of weeks ago I submitted a financial
report to her and I still havent received the finalapproval. Ive sent emails and left messages, and when
I spoke directly to her she didnt talk about the report
but criticised another aspect of my performance at
work. I feel totally undermined and my confidence is
at a low. I just cannot see how Im going to develop
professionally and Im feeling miserable.
mAnAging woRkPlAcE conflict
REAd An ExPERts AdvicEClick here to read more
24
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]://www.accaglobal.com/content/dam/acca/global/word/sa_feb_f_pp24.docmailto:[email protected]://twitter.com/accanewshttp://www.facebook.com/ACCA.Official7/30/2019 SA February 4
12/65
focusonsHEll
WhAts It lIKe to WorK For shell, the 76Bn GloBAl enerGy AndPetroCheMICAls GrouP WIth Around 93,000 eMPloyees In 90+ CountrIes?
blAckHuRststoP study tiP
solEkstoP study tiP
At A glAncE
Click here to read more
26
s Acca Fba 2012FeAtures
EmAilyouR
fEEdbAck
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]://www.accaglobal.com/content/dam/acca/global/word/sa_feb_f_pp26.docmailto:[email protected]://twitter.com/accanewshttp://www.facebook.com/ACCA.Official7/30/2019 SA February 4
13/65
Supporters of the Rural Womens Assembly sing and dance during a protestat speakers corner in Durban
As ClIMAte ChAnGe tAlKs CAMe to An end In durBAn In deCeMBer 2011,ACCA WAs AMonG the MAny oBserVers Keenly AWAItInG the outCoMe
wHAt nExt?tHE imPActkEy Actions
climAtE cHAngE And AccountAnts
wHERE to nExt?the accountancy profession can, and
should, make a significant contributionto the global communitys efforts to
confront climate change.helen brand, acca chief executive
wHAt nExt?COP17 concluded with the launch of fresh negotiations on a
new climate deal that would have legal force and, crucially,
require both developed and developing countries to cut their
carbon emissions. The terms now need to be agreed by 2015
and will come into effect from 2020. Alongside governments,
scientists, campaigners, legislators, and business leaders,
ACCA will be analysing the immediate and long-term impact ofCOP17 on policy development, with an aim of strengthening its
contribution towards a more sustainable world. For ACCA, this
means engaging everyone within accountancy with the climate
change agenda especially students, as they are the future of
the profession and must be ready for the challenge ahead.
downloAd
REPoRt
28
s Acca Fba 2012FeAtures
EmAilyouR
fEEdbAck
http://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/pubs/general/activities/library/sustainability/cc_pubs/tech-af-cop17.pdfhttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/pubs/general/activities/library/sustainability/cc_pubs/tech-af-cop17.pdfhttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/pubs/general/activities/library/sustainability/cc_pubs/tech-af-cop17.pdfhttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/pubs/general/activities/library/sustainability/cc_pubs/tech-af-cop17.pdfhttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/pubs/general/activities/library/sustainability/cc_pubs/tech-af-cop17.pdfhttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/pubs/general/activities/library/sustainability/cc_pubs/tech-af-cop17.pdfhttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/pubs/general/activities/library/sustainability/cc_pubs/tech-af-cop17.pdfhttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/pubs/general/activities/library/sustainability/cc_pubs/tech-af-cop17.pdfhttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/pubs/general/activities/library/sustainability/cc_pubs/tech-af-cop17.pdfhttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/pubs/general/activities/library/sustainability/cc_pubs/tech-af-cop17.pdfhttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/pubs/general/activities/library/sustainability/cc_pubs/tech-af-cop17.pdfhttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/pubs/general/activities/library/sustainability/cc_pubs/tech-af-cop17.pdfhttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/pubs/general/activities/library/sustainability/cc_pubs/tech-af-cop17.pdfhttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/pubs/general/activities/library/sustainability/cc_pubs/tech-af-cop17.pdfhttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/pubs/general/activities/library/sustainability/cc_pubs/tech-af-cop17.pdfhttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/pubs/general/activities/library/sustainability/cc_pubs/tech-af-cop17.pdfhttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/pubs/general/activities/library/sustainability/cc_pubs/tech-af-cop17.pdfmailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]://www.accaglobal.com/content/dam/acca/global/word/sa_feb_f_pp28.docmailto:[email protected]://twitter.com/accanewshttp://www.facebook.com/ACCA.Officialhttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/pubs/general/activities/library/sustainability/cc_pubs/tech-af-cop17.pdf7/30/2019 SA February 4
14/65
ExAmsuPPoRt
teChnICAl
EmAilyouRfEEdbAck
Continue to next page
businEss vAluAtionsreleVAnt to ACCA QuAlIFICAtIon PAPer F9
This article discusses the three broad approaches to
business valuations assets-based, income-based, and
cash flow-based.
AccEss tHE ARticlE HERE
REAding tHE QuEstionREQuiREmEnts of PAPER P5releVAnt to ACCA QuAlIFICAtIon PAPer P5
Alex Watt, Paper P5 examiner, provides an insight
into some common problems and misconceptions
surrounding Paper P5. The article considers how to
carefully understand the question requirement with
use of selected examples from the past three
Paper P5 exams.
AccEss tHE ARticlE HERE
vAluE AddEd tAx PARt 1releVAnt to ACCA QuAlIFICAtIon PAPer F6 (uK)
In the first article of two, Paper F6 (UK) examiner
David Harrowven describes how VAT will be examined in
Paper F6 (UK). Among the areas discussed in the article
are VAT registration and deregistration, and output and
input VAT.
AccEss tHE ARticlE HERE
cHARgEAblE gAinsreleVAnt to ACCA QuAlIFICAtIon PAPer F6 (uK)
David Harrowven, Paper F6 (UK) examiner, looks at
chargeable gains in either a personal or corporate context.
This article is relevant to candidates sitting Paper F6 (UK)
in 2012.
AccEss tHE ARticlE HERE
nEw comPAniEs stARt-uP REliEfreleVAnt to ACCA QuAlIFICAtIon PAPer F6 (Irl)
The purpose of this article is to explain the workings of
Irelands tax relief for start-up companies, which was
introduced in the Finance Act 2009 to encourage new
business activity. The article sets out details of the scheme,
including the maximum and marginal tax-exempt amounts
allowable and the time limits for the relief.
AccEss tHE ARticlE HERE
cAPitAl gAins AndinHERitAncE tAxreleVAnt to ACCA QuAlIFICAtIon PAPer P6 (uK)
This article by Paper P6 (UK) examiner Rory Fish considers
the occasions where both capital gains and inheritance taxes
are relevant to a transaction. It also features illustrations of
some issues that need to be considered when giving advice
in the context of the Paper P6 exam.
AccEss tHE ARticlE HERE
30
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]://www.accaglobal.com/content/dam/acca/global/PDF-students/2012-2/sa_feb12_f9_valuations.pdfhttp://www.accaglobal.com/content/dam/acca/global/PDF-students/2012-2/sa_feb12_p5_requirements.pdfhttp://www.accaglobal.com/content/dam/acca/global/PDF-students/2012-2/sa_feb12_f6_vat1.pdfhttp://www.accaglobal.com/content/dam/acca/global/PDF-students/2012-2/sa_feb12_f6_gains.pdfhttp://www.accaglobal.com/content/dam/acca/global/PDF-students/2012-2/sa_feb12_p6_startup.pdfhttp://www.accaglobal.com/content/dam/acca/global/PDF-students/2012-2/sa_feb12_p6_capgains.pdfhttp://www.accaglobal.com/content/dam/acca/global/word/sa_feb_t_pp30.docmailto:[email protected]://twitter.com/accanewshttp://www.facebook.com/ACCA.Officialhttp://www.accaglobal.com/content/dam/acca/global/PDF-students/2012-2/sa_feb12_p6_capgains.pdfhttp://www.accaglobal.com/content/dam/acca/global/PDF-students/2012-2/sa_feb12_p6_startup.pdfhttp://www.accaglobal.com/content/dam/acca/global/PDF-students/2012-2/sa_feb12_f6_gains.pdfhttp://www.accaglobal.com/content/dam/acca/global/PDF-students/2012-2/sa_feb12_f6_vat1.pdfhttp://www.accaglobal.com/content/dam/acca/global/PDF-students/2012-2/sa_feb12_p5_requirements.pdfhttp://www.accaglobal.com/content/dam/acca/global/PDF-students/2012-2/sa_feb12_f9_valuations.pdf7/30/2019 SA February 4
15/65
ExAmsuPPoRt
teChnICAl
tRusts And tAxreleVAnt to ACCA QuAlIFICAtIon PAPer P6 (uK)
The transfer of assets to and from trustees is a complex
area of the UK tax system. This article, by Paper P6
(UK) examiner Rory Fish, sets out the associated rules
that may be examined in Paper P6 (UK) and those areas
where knowledge is not required.
AccEss tHE ARticlE HERE
coRPoRAtion tAx PARt 1releVAnt to ACCA QuAlIFICAtIon PAPer P6 (uK)
This article follows a company as it begins trading,
acquires an additional business, and eventually invests
overseas. It sets out the commercial decisions taken by
the company and its shareholders at the different stages
in the companys development and summarises the tax
implications of those decisions.
AccEss tHE ARticlE HERE
tAxAtion of AnunincoRPoRAtEd businEssreleVAnt to ACCA QuAlIFICAtIonPAPer P6 (uK)
This is the first of two articles on the
unincorporated business. It covers issues relating
to a new business including the choice of
business vehicle and the first years of trading.
AccEss tHE ARticlE HERE
32
http://www.accaglobal.com/content/dam/acca/global/PDF-students/2012-2/sa_feb12_p6_trusts.pdfhttp://www.accaglobal.com/content/dam/acca/global/PDF-students/2012-2/sa_feb12_p6_corp.pdfhttp://www.accaglobal.com/content/dam/acca/global/PDF-students/2012-2/sa_feb12_p6_unincorp.pdfhttp://www.accaglobal.com/content/dam/acca/global/word/sa_feb_t_pp30.docmailto:[email protected]://www.beckeratci.com/http://twitter.com/accanewshttp://www.facebook.com/ACCA.Officialhttp://www.accaglobal.com/content/dam/acca/global/PDF-students/2012-2/sa_feb12_p6_unincorp.pdfhttp://www.accaglobal.com/content/dam/acca/global/PDF-students/2012-2/sa_feb12_p6_corp.pdfhttp://www.accaglobal.com/content/dam/acca/global/PDF-students/2012-2/sa_feb12_p6_trusts.pdf7/30/2019 SA February 4
16/65
ExAmsuPPoRt
ACCA is committed to providing support to all its
students. As part of this support, a range of materials
in a variety of media to reach as many students as
possible is available specifically to address the ACCA
Qualification exams. Information from ACCAs examiners
including examiner reports, examiner interviews and a
wide variety of technical articles are available in a range
of different media on the ACCA website.
The two sets of examiner interviews are available onwww.accaglobal.com and are extremely valuable resources.Each set of interviews can help you prepare for your examsin different ways and, when used in conjunction with thepaper resources available, they can make a big difference
to your studies.
ExAminERs APPRoAcH intERviEws
The examiners approach interviews are very usefulwhen you are undertaking a particular paper for the firsttime, giving you a real insight into what examiners arelooking for in terms of exam performance. They coverthe main themes of each paper and give informationon the style of the exams and how they are structured.
They also advise on exam technique, with tips on how tosucceed and potential pitfalls to avoid.
The examiners approach interviews complement theexaminers approach articles, which were written togive guidance on how to tackle each exam paper. Theseresources contain similar information but the differencein delivery method can be a useful advantage whenstudying and may give you a better chance of absorbingthe examiners advice. The examiners approachinterviews also contain useful links to other relevantresources for your exam.
teChnICAl
34
http://www.accaglobal.com/content/dam/acca/global/word/sa_feb_t_pp34.doc7/30/2019 SA February 4
17/65
ExAmsuPPoRt
teChnICAl
ExAminERs AnAlysis intERviEws
The examiners analysis interviews build on the examinersapproach interviews. They highlight where students areperforming well, where students are performing less well,and give advice on how students can improve performance inproblem areas.
Its never too soon to start listening to the examiners analysisinterviews, but they would probably be most useful once youhave covered the syllabus and are starting to think about the
detail of a paper and how to apply what you have learned inthe exam.
They are designed to give guidance around which areas of thesyllabus students have been struggling with in recent examsittings and how students can tackle the difficulties othershave been having. The analysis interviews are closely related tothe examiners reports, which are published after each examsession. They bring together the examiners reports from thefirst three sessions of the ACCA Qualification, illustrating thatsome mistakes are being repeated consistently and highlightingcritical areas of the syllabus to focus on. Remember, this doesnot mean one of those areas will necessarily be examinable inthe next session.
The ACCA website also features examiner interviews recorded atlast years Learning Providers Conference. It is still vital to makeuse of the individual examiners reports available in StudentAccountantand on the ACCA website, as well as listening to theanalysis interviews. After you have worked through a practicequestion, refer to the relevant examiners report and you willfind an analysis of that question, what the examiner is lookingfor in a good answer, typical answers given by students, whythey might not be relevant and so on.
All of these resources and others such as the Syllabus andStudy Guide, past papers, examinable documents and technicalarticles can be accessed at www2.accaglobal.com/students/
acca/exams/
36
http://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/students/acca/exams/http://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/students/acca/exams/http://www.kaplanfinancial.co.uk/premierhttp://www.accaglobal.com/content/dam/acca/global/word/sa_feb_t_pp36.docmailto:[email protected]://www.kaplanfinancial.co.uk/premierhttp://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/students/acca/exams/7/30/2019 SA February 4
18/65
ContaCt details
Telephone: +44 (0)141 582 2000
Email: [email protected]
myACCA: https://portal.accaglobal.com
The following fees and subscriptions apply:
ACCA Qualification students Initial registration 77
Re-registration *77
Annual subscription 77
*plus unpaid fee(s)
Foundations in Accountancy students
Initial registration 77
Subscription 77
FeesAnnual subscription 2012
Please note that, as a student, you are
required to pay an annual subscription for
each year you are registered with ACCA.
aCCa
Co
nneCt
staYinG ConneCted
Rules and ReGulationsACCAs disciplinary procedures cover matters such
as professional misconduct, misconduct in exams
and breaches of regulations which include any
actions likely to bring discredit to you, ACCA, or the
accountancy profession.
ACCAs Rulebook is available for reading online at
www2.accaglobal.com/students/rules/
At ACCA we continuously work hard to improve the
service and support we offer you, our customers. Our
aim is to make it easier for you to do business with us
and improve your customer experience.
ACCA Connectis available 24 hours a day, seven days a
week, 365 days a year providing global support at times
convenient for you.
dontFoRGettopayyourfeesontime.Datesbywhichfeesandsubscriptionsmustbepaid,andarrangementsforhowpaymentmustbemade,areincludedinyourACCAwelcomepack.
38
RESOURCES Student Accountant February 2012
emailYouRFeedbaCk
http://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/students/rules/http://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/students/rules/mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/students/rules/http://www.accaglobal.com/content/dam/acca/global/word/sa_feb_r_pp38.docmailto:[email protected]://twitter.com/accanewshttp://www.facebook.com/ACCA.Official7/30/2019 SA February 4
19/65
TIMETABLEDates have been confirmeD forthe next exam session for accaQualification anD founDations
in accountancy papers
Monday 11 June
FTX Foundations in TaxationF5 Performance
Management
P7 Advanced Audit and
Assurance
Tuesday 12 June
MA2 Managing Costs and
Finance
FFM Foundations in Finance
Management
F6 TaxationP4 Advanced Financial
Management
Wednesday 13 JuneFA2 Maintaining Financial
Records
F7 Financial Reporting
Thursday 14 June
MA1 Management
Information
F8 Audit and Assurance
P5 Advanced Performance
Management
Friday 15 June
FAB Accountant in Business
F1 Accountant in Business
F9 Financial Management
P6 Advanced Taxation
Monday 18 June
FAU Foundations in Audit
F4 Corporate and
Business Law
P3 Business Analysis
Tuesday 19 June
FFA Financial AccountingF3 Financial Accounting
P2 Corporate Reporting
Wednesday 20 June
FA1 Recording Financial
Transactions
FMA Management
AccountingF2 Management
Accounting
P1 Governance, Risk and
EthicsJUNE20
12EXAMS
resources
40
http://www.kaplanfinancial.co.uk/accamaterialsmailto:[email protected]://www.kaplanpublishing.co.uk/accamaterials7/30/2019 SA February 4
20/65
NOTICEBOARD
EXAM ENTRY INfORMATIONThe exam entry process has changed. You can now:
submit an exam entry at any time of the year
enter for exams early and save money
enter for one of the next two exam sessions
June or December
make amendments to existing exam entries including
changing exam centre, variant papers or entering for exams.
KEEPING YOU INfORMEDThe quickest way for us to send you important
information such as changes to exam entry and exam
results is by e-communication (such as email and SMS)
but we need you to give us your permission its the law.
To update your details to ensure we use your preferred
method of communication, please visit our website at
www2.accaglobal.com/consentfor further information.
8 March 2012
Early exam entry
(online only)
8 April 2012
Standard exam entry
(online and paper)
8 May 2012
Late exam entry
(online only)
CLOSING DATES TO REMEMBER fOR JUNE 2012
OXfORD BROOKES:BSC (HONS)
KEY DATES
Students completing certain papers of the ACCA
Qualification are eligible to apply for a BSc (Hons) in
Applied Accounting from Oxford Brookes University.
!
resources sd a f 2012
emailyourfeedback
Click here to read more
42
http://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/consenthttp://www2.accaglobal.com/students/bsc/submission/mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]://www.accaglobal.com/content/dam/acca/global/word/sa_feb_r_pp42.docmailto:[email protected]://twitter.com/accanewshttp://www.facebook.com/ACCA.Officialhttp://www2.accaglobal.com/students/bsc/submission/http://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/students/bsc/http://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/consent7/30/2019 SA February 4
21/65
NOTICE
BOARD
resources
CHANGES TO EXAMRESULTS DATESThe December 2011 exam results
will be made available to view
online the week commencing
13 February 2012, and an official
exam results notification will besent to you by email or SMS.
Click here to read more
44
http://www.lsbf.org.uk/SAhttp://www.accaglobal.com/content/dam/acca/global/word/sa_feb_r_pp44.dochttp://twitter.com/accanewshttp://www.facebook.com/ACCA.Official7/30/2019 SA February 4
22/65
http://www.accaglobal.com/students/exams/entrieshttp://www.accaglobal.com/dontforget7/30/2019 SA February 4
23/65
RECRUITMENT REQUIREMENTS
Most trainees consider what their recruitment companyis, or should be, doing for them in relation to finding
a new job and rightly so. Many will consider thisaspect as a key issue in determining which recruitmentcompanies to choose in the first place.
However, it will also likely prove beneficial to flip thequestion around and ask yourself what it is you can doto help your recruiter help you. This is because thereare a number of key areas that recruitment companies
are constantly asked about from their clients looking toemploy trainees.
Soft skills in demandPage Personnel Finance managing director Peter Isteadsays his recruitment company has noticed several skillsthat are most in-demand from employers, as have other
top recruitment companies.
We have noticed a high demand from clients forpart-qualified candidates with exceptional soft skills,explains Istead. Soft skills are what differentiateyou from other candidates. In particular, excellentcommunication skills to interpret technical contentand clearly explain this in everyday language to a non-
specialist audience.
Paul Strong, associate director at Robert Half UK,agrees: The finance team is increasingly calledupon to partner with non-finance departments, suchas operations and sales, to deliver a more effectiveand financially-sound business strategy. Strong
communication and presentation skills, as well as theability to explain financial information to non-financial
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
24/65
RECRUITMENT REQUIREMENTS CONTINUED
audiences, is a critical ability for accountants lookingto play an indispensable role within their organisation.
CommercialityAccording to a recent Robert Half survey, around onein five CFOs believe that the lack of commercial skillswithin their teams has a negative impact on theirbusiness. This is a clear demonstration that reinforcesthe fact that employers are looking for individuals who
have both the requisite technical accounting knowledgeand commercial acumen to understand how the financefunction can drive sustained growth and efficiencies.
Commercial awareness also includes having goodbusiness sense, being aware of whats going on in theindustry and being able to clearly demonstrate returnon investment for different types of business activity.
A lot of our clients are looking for candidates that canhit the ground running, so advanced Excel skills andknowledge of accounting software such as Sage, SPSSand Crystal Reports are very important, says Istead.A good way to advance your IT skills is to get hands-onexperience, so if you havent already, look into getting
some experience by temping.
Exams and experienceAs technical skills are a pre-requisite, many employerswill rank candidates on their academic history obviously passing your exams at the first attempt isvery attractive to potential clients and will put you atthe top of the list.
But if you dont have first-time passes, industry
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
25/65
RECRUITMENT REQUIREMENTS CONTINUED
experience is perhaps the next most desirable qualityin trainees. The best candidates will have both a
professional finance qualification and a proven trackrecord of hands-on experience, explains Istead.
Core competenciesIn the current economic climate, it is important toremember that many employers are having to go togreat lengths to justify taking on new staff and they
can ill-afford to make any hiring mistakes. As a result,they now have very high expectations and are lookingfor trainees who meet all the competencies laid out intheir job specifications. In turn, recruitment companiesneed to ensure that you, as a trainee, meet thesecompetencies.
James Brent, business director at Hays Accountancy
& Finance, provides guidance on meeting thecompetencies laid out in job specifications. In order tobe successful, you need to prepare, prepare, and thenprepare some more, he says.
If you are applying for a specific role, thoroughlyresearch the organisation and role. Make sure you can
comfortably provide an example for each competencyand can talk confidently about your relevant experience.Accountants may have fared well in the recession, butthey are still faced with intense competition for jobsand so need to make sure they are in the best positionto secure an interview and convince a future employerhow they will add value.
Strong competitionThe quest for newly qualified accountants has resulted
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
26/65
RECRUITMENT REQUIREMENTS CONTINUED
in strong competition from vying companies lookingto recruit and groom future leaders, adds Strong.
Reduced hiring levels throughout the downturn haveresulted in a smaller pool of individuals with the skillsand qualifications required by companies to helpnavigate the ever-changing economic landscape.
While it is true that good recruitment companies willoffer valuable advice, it is important for you to be as
clear as you can in terms of where you want to workand what you want to do. The more accurate picturethe recruiter has of your capabilities and interests, thebetter it is for everyone and this will allow recruitersto ensure they put you forward for the right jobs and,as a result, increase your chances of success.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
27/65
WORKING LIFE: JOANNE COTTON
After 10 years at your current workplace, what hasbeen your career highlight so far?
Passing my ACCA finals and becoming an ACCAmember were my career highlights, and also a relief!At the time, I hadnt appreciated to what extent thelearning had only just begun. I remember the first timethat I was assigned a new client to work with. I felt areal sense of pride when the job was all signed off.
What are your main areas of work?I work with small and medium-sized enterprises in abroad range of industries. I am also heavily involved inthe audit of some UK subsidiaries of German groupcompanies; this requires knowledge of internationalstandards as well as UK generally accepted accountingprinciples. I spend a lot of my time working at clientspremises, which gives me a greater insight into theethos of a business.
Where would you like to be in five years time?I hope that there will be opportunities for me tobecome more involved with the specialisms within thefirm. I would also hope to be working on larger groupcompanies, perhaps with overseas aspects.
What would be your top tips for ACCA students?Passing exams is excellent but there is still so muchto be learned, thats why completing ACCAs practicalexperience requirement is so important. It is also vitalto try and establish a healthy work/life balance earlyon when you become an ACCA member. And rememberthat it is OK to ask questions.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
28/65
WORKING LIFE: JOANNE COTTON CONTINUED
As a keen runner and rock climber, how do you findspare time for sports?I dont find time, I make time! I always try and bookmy sports and social appointments in my diary a fewweeks in advance. I am a healthier and happier personfor having these interests.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
29/65
TALKING TECHNOLOGY: TALK IS CHEAP
ONLINE
Nowadays, money-saving opportunities are literally atour fingertips when you consider the possibilities ofmaking and receiving voice and video calls, as well astapping into a host of business telephony services,simply by signing up with a service provider that usesinternet-based networks to provide low-cost telephony.
This is done using TCP/IP (Transmission ControlProtocol/Internet Protocol), a suite of communicationsprotocols for moving data around various networksincluding the internet. When the data is audio (andvideo) the process is called Voice over IP (or VoIP); itgenerally goes by the simpler term internet telephony,though in the workplace this may be provided viaan IP-PBX (private branch exchange) or UnifiedCommunications (UC) system.
In its infancy, internet telephony didnt go any furtherthan making calls between computers that wereequipped to handle sound through built-in recordersand speakers, plug-in headphones and microphones, orspecial internet telephones. These capture speakers
voices, which are then digitised, assembled into smallpackets of (IP) data, and then transmitted at intervalsso close together that they can be reassembled tocreate sound, or sound and images, that appear to becontinuous.
Once the next step was taken, and these calls connectedbeyond the internet, across local telephone networksand on to any regular landline or mobile phone, the
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
30/65
TALKING TECHNOLOGY: TALK IS CHEAP
ONLINE CONTINUED
possibilities (for services and cost savings) expandedexponentially and so did the number of internetservice telephony providers (ISTPs). The most widelyknown is probably Skype (which was created by a start-up in Tallinn, Estonia, but is now owned by Microsoft),but there are many other providers of VoIP services.
Kobikom Telekomnikasyon (Turkey), Telemo (Spain),S-unno (Singapore), and Google Talk are just a few ofthe thousands and the near ubiquity of mobile phonesthat can access the internet using WiFi, 3G and 4Gcellular connections makes low-cost international calls amobile phenomenon too. With the right service provideryou can use a computer, landline or mobile to call,instant message or text for a fraction of what it wouldotherwise cost.
Businesses can also benefit. A virtual IP-PBX (privatebranch exchange) offers the features and functionalityof its hardware predecessor, but at a fraction of thecost. An IP-based unified communications systembrings voice together with collaboration services, such
as email, calendaring, instant messaging and presence(the location of users and/or who is online), and createsa single inbox thats accessible from anywhere, via anyinternet-enabled device.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
31/65
MAKING THE MOST OF ACCAS CAREERS PORTAL
ACCA Careers welcomes new bloggers
Three new bloggers have joined ACCA Careers toregularly share their experiences of studying the ACCAQualification, the recruitment process, and more.
ACCA student Rebecca Grantham has made the career
switch from teaching to accountancy and recently sather first three ACCA exams (Papers F1, F2 and F3).In her blogs, she will focus on job-hunting, interviews,starting in a new role and ACCAs practical experiencerequirement (PER).
Htet Htet Win Aye is an accountant in Singapore with10 years experience. Her blogs will consider the work/
life balance while studying for ACCA, the dilemmas shehas encountered as a student accountant, and finding aworkplace mentor.
Khadijat Ezimokhai, originally from the United ArabEmirates, travelled to Europe to further her education.Now an ACCA student based in the UK, she plans to
use her blog to provide advice for other internationalstudents seeking relevant work experience.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
32/65
HOW TO TACKLE PERSONALITYQUESTIONNAIRES
There are only three questions any employer needsto answer during the recruitment process. First,do you have the right academic background, skillsand experience? Second, are you enthusiastic andmotivated? Finally, are you going to fit in? The second
and third of these questions are largely about yourpersonality and this is what really matters for the overallsuccess of every organisation. If the team doesnt workwell together, productivity and quality of service suffersand profitsgo down.
Personality questionnaires aim to assess aspects
of your behaviour, your attitudes and opinions, yourmotivation, interests and values. Your results arethen compared to the characteristics essential for therole. For example, a successful candidate for a salesposition with a local bank could be expected to bepersuasive, competitive, energetic and outgoing. So, acandidate who doesnt have these character traits may
not be suitable for this particular role (which doesntmean they wouldnt make a perfect fit with a differentemployer or with a different role).
If you worry the employer wont like who you are, youmay be tempted to try and cheat the system and givethem the answers you think theyre looking for. But isthis the right move?
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
33/65
HOW TO TACKLE PRESENTATIONS
The presentation is a common feature at graduate ortrainee assessment centres, and some organisationsalso use it to test part-qualified and qualifiedcandidates. You may be asked to prepare a presentationon a certain topic or on a topic of your choice; it maybe an individual effort or you may have to speak as partof a group; you could be asked to prepare a five-minute
speech on the day or to do a longer presentation thatyou can prepare in advance.
Delivered well, a presentation can certainly enhanceyour chances of success. However, it can also have theopposite result due to nerves, lack of preparation andlack of focus.
So, what do you need to do to get it right on the day?
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
34/65
MANAGING THE WORKPLACE CONFLICT
Workplace conflict can not only make your professionaldevelopment next to impossible but it can make youunhappy, stressed and ill. And if ever there was a timethat you could think, Ive had enough of this, Im outof here and swan off into another job, 2012 is not theyear in which to do it
Regardless of whether you have been in the workplace
for a number of years already before choosing to doyour accountancy qualification or whether you are ayoung student just starting out in your professional life,the chances are you dont feel quite as confident aboutlife in the office as you would have done 10 years ago.The world, after all, has changed and we should all feelhappy and grateful to be in work, right? But what if work
is miserable because you dont get on with a colleagueor, worse still, your boss?
Understanding what can go wrong in relationships cango a long way to solving the problem and teach you howyou should deal with workplace conflict and what help isavailable to you.
There is both a common-sense approach and also amore formal line of conflict management to consider(they are often not the same thing!). But while tryingto sort out problems yourself to make your work andpersonal life as content as possible, dont forget thatemployment law exists to protect both employer andemployee; it may be that this course of action is both
required and will ultimately be most successful.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
35/65
MANAGING THE WORKPLACE CONFLICT CONTINUED
First, though, why does it even matter whether we get onwith our colleagues or not?
We dont have to like the people we work with, but ithelps if we can at least respect the fact that they mayhave opinions that are different to our own, says Dr RobYeung, director at leadership consultancy Talentspace
and author of E is for Exceptional: The New Scienceof Success. So just because you dont like someonedoesnt mean that they are automatically wrong all ofthe time. Its worth listening even to people you dislikebecause what they say may often make good sense. Thealternative is to be surrounded by people who simplysay yes to everything and thats how bad decisions
end up sometimes being made.
Dr Yeung warns against the sometimes natural reactionof trying to let things that annoy you simply go awaybecause there is then the chance that bad feeling willfester.
Suppose you think someones made a mistake but you
let it go on that occasion, he says. Ignore it severaltimes and you may get more and more frustrated untilyou end up blurting something out. By that point,the situation has blown out of proportion. So it canbe helpful to resolve issues early on by giving peopleconstructive criticism. That doesnt mean that weshould criticise every little thing that our colleagues do,
but to raise moderate issues before they become majorones.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
36/65
MANAGING THE WORKPLACE CONFLICT CONTINUED
And Dr Yeung adds that truly successful people get to
where they are by admitting that they are not infallible.None of us is an all-knowing, all-seeing omnipotentbeing who knows every single fact that has gone on.So we would all do well to remember that we can onlyever share one side of the story and that we must askpeople for what they think happened or the reasons theybehaved the way they did.
These are all common-sense approaches to issues thatare thrown up when there is a personality clash betweentwo individuals in the office. Sometimes that bad feelingwill turn into something more serious.
If you really feel as though it is impossible to work witha colleague, is there anything you can do about it other
than quit?
Try raising the issue in a calm fashion, suggests DrYeung. Perhaps say something like: I feel that werenot working as well together as we could do andsuggest that the two of you go for a coffee or a drinkafter work. Getting out of the office environment can
make a conversation feel less stiff and formal. Tell yourcolleague how you feel and ask for their perspective.Avoid at all costs getting into an argument about whatmay or may not have happened in the past. Instead,focus on how the two of you will work together in thefuture. Focus on what you can influence going forward,not what you cannot change from the past.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
37/65
MANAGING THE WORKPLACE CONFLICT CONTINUED
Of course, sometimes these solutions will not work
and a problem is too deeply entrenched in a toxicrelationship that can be described as bullying. At whichpoint, its time to get other people involved.
A recent study from the UKs Chartered Institute ofPersonnel & Development shows that the scale ofworkplace conflict is remarkable and has increased
during the recession. Over half the respondents saidtheir organisation has increased its use of disciplinaryaction (49.5%), grievance procedures (47.7%) andmediation (49.4%) during the past two years.
The high proportion of respondents saying thattheir organisation makes more use of mediation isencouraging, but is overshadowed by the proportion
making increased use of training line managers inhandling difficult conversations.
Two out of three respondents (65.3%) say that trouble-shooting by the HR department has gone up, reflectingthe increased volume of disciplinary and grievancecases.
Its important to remember that not all conflict is bad.Although conflict can become destructive and damagingif the boundaries are crossed, healthy conflict can bea springboard for constructive analysis of work and adynamic and motivated workforce.
Its also wise to take responsibility for your ownbehaviour in the office and keep that common-sense
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
38/65
MANAGING THE WORKPLACE CONFLICT CONTINUED
approach in potentially dangerous work situationswhere emotions are more likely to come to the fore.Remember that a corporate social occasion or theoffice Christmas party are still work events, says DrYeung. Yes, let your hair down and enjoy yourself, butdont do anything that could be career-limiting. Its likegoing to a party with your parents-in-law. You have toremember that your peers and close friends may let you
get away with things that you do for laughs or becauseyoure being ironic. However, senior managers or justthose who dont know you well enough may misinterpretsituations or find your behaviour inappropriate.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
39/65
FOCUS ON SHELL
Alan Blackhurst, 30, from Chapelhall outside Glasgow,
UK, and Agnieszka (Aga) Solek, 37, from Rzeszw insoutheastern Poland, are both studying for their finalACCA exams through Shell and work at the groupsBusiness Service Centre in Glasgow. This is one ofShells five finance operations hubs around the worldthat handle processes including expenditure, revenue,data management, management information and
various record-to-report activities. The other four centresare in Manila in the Philippines, Chennai in India, KualaLumpur in Malaysia and Krakow in Poland.
Even just within this office there are so many differentnationalities, explains Blackhurst, who joined Shellin 2007 after a degree in accountancy from GlasgowCaledonian University and a spell at Aon, the global
risk management group. On top of that, many peopleyou connect with in the business are based in othercountries. Its a normal day to have a teleconferencewith about five different countries dialled in.
Solek studied for five years at Krakows Academy ofEconomics and was branch controller of development
group Skanskas roads and bridges branch in Rzeszwfor six years before joining Shell in 2007. Its a veryopen place to work and you get this feeling that yourepart of something bigger, she says. You can meet somany people and learn many things. Changing your jobis also quite easy, so its a good way to gain a lot ofexperience in a short space of time.
Blackhurst is a governance risk and assurance adviserworking with Shells controls assurance team. His job
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
40/65
FOCUS ON SHELL CONTINUED
involves testing and working through controls relatingto the SarbanesOxley Act (SOX), the post-Enronlegislation introducing enhanced standards for all USpublic companies.
Because weve got a listing on the New York StockExchange were required to report on our controleffectiveness in the annual report each year, he
explains. The SOX controls report the major risks tothe financial statements and weve got a procedure inplace to check them, report on their effectiveness andremediate any controls that arent effective. If thesewerent corrected by the end of the year theyd have tobe listed as deficiencies. We also test a number of keycontrols that arent reported for SOX but still supportthe Shell control framework.
Solek is a project accountant providing managementinformation to Shells Downstream Retail IT business.This includes Shells Global Site Systems Project a$120m per year programme to upgrade and replacedated IT infrastructure across Shell sites worldwide,including the card payment systems used at Shell petrol
station forecourts. Its the biggest and longest-runningretail IT project of its kind and I think we probably havethe biggest offshore management information team ofany company in the world, says Solek. Im responsiblefor costs accuracy and analysis, which leads to a morerobust planning process and more reliable forecastingof business spend. Greater clarity on where wereadding value and increased predictability of spend inturn helps to lower the volatility of share prices. Thestakeholders I report to range from project managers to
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
41/65
FOCUS ON SHELL CONTINUED
the programme director.
Solek is just waiting for results of her final exam PaperP4, Advanced Financial Management while Blackhurstis waiting for his results for Paper P7, Advanced Auditand Assurance. So how has studying helped with theirwork and vice versa?
Doing my exams has given me a technical knowledgethats helped me a lot, says Blackhurst. Ive recentlymoved into a new role and the knowledge gainedfrom my studies on financial statements and the risksinvolved has made it much easier for me to do that andhas eased the training process a little. Conversely, myjob also helped me study towards my exam on audit
and assurance as my role features a lot of internal auditwork.
Improved speed, confidence and professionalism inher work have been key benefits for Solek. The mainadvantage for me has been understanding how theseparate parts of financial management, managerialaccounting, financial accounting and ethical aspects all
fit together and fit into the big picture, she says. I thinkthats given me the edge when Im talking to peoplefrom Shell at a senior level because I know what Imtalking about and what I need to focus on.
Shell has supported Blackhurst and Solek through theirACCA exams by providing tuition classes, the exam fees,
a revision class and five days study leave. However, bothfeel Shells mentoring circles have provided the mostvalue.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
42/65
FOCUS ON SHELL CONTINUED
Each mentoring circle has a few qualified ACCAmembers and some students, explains Blackhurst. Weall meet quarterly to discuss any developments withinACCA and the exams. The mentors also give you adviceabout what sort of roles to aim for and encourage youto develop. They could be team managers or analysts,but theyre all qualified ACCA members who give us thebenefit of their experience.
For Solek, informal networking around the mentoringcircles was also a huge support. It really helped meout because whenever I struggled I knew that there wassomeone I could go to and ask advice or just to give youencouragement, she says. Obviously you bond withyour peers too so you talk to each other over lunch. The
circles are very small and you can move from one to theother, so it gives you this really wide base of people thatyou can talk to.
In terms of career progression, Blackhurst admits: Ivenot really got a vision because when I left universitythe one thing I said I didnt want to work in was audit.But my current role is in audit and Im really enjoying
it! There are financial reporting teams, managementinformation teams and other teams in governance riskand assurance that have roles Id be interested in. Butreally for me its just a case of working hard in mycurrent role and taking advantage of any opportunitiesthat come my way.
Solek doesnt have a long-term plan either but is keento continue learning on the Global Site Systems Project.I would like to benefit from it for a couple more years
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
43/65
FOCUS ON SHELL CONTINUED
because I think my skills are quite good within theaccounting of long-term projects, she says.
Management information has a long way to go in manycompanies and Ive been lucky to work with and learnfrom brilliant managers and leading companies withinthis sector.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
44/65
OXFORD BROOKES: BSc HONOURS
EligibilityThe degree must be completed within 10 years ofyour initial registration on to ACCAs professionalqualification; other wise, your eligibilty will bewithdrawn. Check your eligibility status at www2.accaglobal.com/students/bsc/
Online RAP submissionResearch and Analysis Projectsubmissions andre-submissions including payment for Period 24(May 2012) should all be made online. A link withinstructions of how to submit and pay online will bemade available from 1 May to 25 May; all submissionshave to be completed within this period.
Students can no longer send hard copies to the ACCAoffice at Oxford Brookes University as these will not beaccepted.
The cost of submission for Period 24 is 135.
Students will be required to upload their Research
and Analysis Projectfiles which can be in all major fileformats including Microsoft Word and PowerPoint.Students should upload separate files for their ResearchReport, Skills and Learning Statement, Appendicesand List of References; these will all then be submittedalong with their payment.
Any queries relating to online submission should be sentto Oxford Brookes University at [email protected]
> BACK TO MAIN ARTICLE
http://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/students/bsc/http://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/students/bsc/mailto:[email protected]:[email protected]://localhost/var/www/apps/conversion/tmp/scratch_1/www2.accaglobal.com/students/bsc/7/30/2019 SA February 4
45/65
OXFORD BROOKES: BSc HONOURS CONTINUED
Professional Ethics moduleIn order to qualify for the BSc (Hons) in AppliedAccounting, all students must first complete the nineFundamental exams as well as the online ProfessionalEthics module. This module is compulsory for anyonesubmitting a project to Oxford Brookes even thoughyou may not have to complete it as part of your ACCA
studies if you registered before 2007.
The Professional Ethics module is accessed viamyACCA, but you will only be given access to themodule once you are eligible to sit Paper P1. Themodule does not need to be completed in one go, andyou may therefore find yourself re-visiting the moduleas it takes approximately two to three hours in total
to complete. Once you have fully completed it, youare required to write a completion statement, and acertificate will subsequently be sent to you.
By completing this module, you will be gaining a betterunderstanding of ethical issues in accounting, andit will also give you a chance to reflect on your own
behaviours.
If you are planning to submit a Research and AnalysisProjectto Oxford Brookes University in Period 24(running from 125 May 2012), you must ensure youcomplete the Professional Ethics module by 8 April, oryou will be unable to submit a project in this session.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
46/65
CHANGES TO EXAM RESULTS DATES
If you are a student who has chosen to receive a papercopy of the exam results, this will be mailed to you inthe week commencing 20 February 2012.
Please note that you can print a copy of your examresults after they are released at any time throughout
the year.
Students in Hong Kong, Singapore, Malaysia, Australia,New Zealand, UK, Ireland and Ukraine will only receivetheir official exam results notification by email or SMS.You will not be issued with a paper copy of your examresults, but you will be able to print a copy of your exam
results after they are released at any time during theyear via myACCA at https://portal.accaglobal.com
So why delay receiving those all-important exam results?
Please make sure you have opted to receive your officialexam results notification via your preferred method bychecking and updating the consent levels you agreed to.
Please do this by logging into myACCA before 12pm onFriday 10 February 2012.
> BACK TO MAIN ARTICLE
https://portal.accaglobal.com/https://portal.accaglobal.com/https://portal.accaglobal.com/7/30/2019 SA February 4
47/65
NEW ISLAMICBANKING RULES
The Malaysian AccountingStandards Board has issueddiscussion papers consideringthe treatment under InternationalFinancial Reporting Standards(IFRS) of three forms of Islamicfinance: sharia, takaful andsukuk. Malaysia converged itsaccounting standards with IFRSat the beginning of this year andthe discussion papers consider
the application of IFRS to theprofit-sharing arrangements ofthe different forms of Islamicfinance. Issues that arise includerevenue recognition, presentationof statements, fair valuemeasurement, impairment andthe use of smoothing techniques.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
48/65
AFRICAN COUNCILS PRAISEDMunicipalities in South Africa havebeen praised for improving theirfinancial reporting performance.Jan Hattingh, chief director forlocal government budget analysisat the National Treasury, said
nearly all municipalities nowproduce their financial reportson time, whereas three years agofewer than 50 of the countrysnearly 400 municipalitiesdid so. This is a remarkableachievement, said Hattingh.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
49/65
SHIPPING ACCOUNTINGOPAQUE
Financial reporting in theshipping industry is improving,
but best practice is lagging,according to a KPMG study.Investors and stakeholders aredriving improvements as theydemand clearer, more regularand detailed financial reports.Yet, in 2008, 44% of the worldslargest shipping companies did
not produce publicly availableaccounts, said KPMG. It alsofound that less than half ofshipping companies providesustainability information. JohnLuke, KPMGs global head ofshipping, said: Capital is in
short supply therefore, shipowners should be interested inpresenting themselves in the bestpossible light if they are aftersome of that capital.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
50/65
PRADA CHAIRS IFRSFOUNDATION
Michael Prada has been appointedas chairman of the trusteesof the IFRS Foundation. Hewas chairman of the Autoritdes Marchs Financiers (AMF)
and its predecessor body, theFrench markets and securitiesregulator, for 12 years. He hasalso chaired the Executive andTechnical Committees of TheInternational Organization ofSecurities Commissions andwas a founding member of theFinancial Stability Forum, now theFinancial Stability Board.
NEW COMMUNICATIONSSTANDARD
The US Public Company Accounting
Oversight Board (PCAOB) hasproposed a revised standardon communications betweenauditors and audit committees,replacing an earlier proposal fromlast year. The revised proposalis intended to strengthen
communications and align withother PCAOB standards.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
51/65
TOP TIPS
Land your dream job in the current climate
Make sure your CV is tailored to the job
and highlights your key competencies andcareer achievements
Do your research into the company and role
Remember you never get a second chance to makea first impression
Consider opportunities within your currentcompany
Be flexible in terms of salary and location
Dont forget to continually look to strengthen yourtechnical or commercial skills with training
Be proactive if you cannot secure paid-for work,voluntary work can keep you busy and help expandyour skill set
Talk to an expert recruiter for careers advice and
help to secure a job Dont give up looking for a new job can take time
Source: Hays Accountancy & Finance
X
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
52/65
HOW DID YOU GET INTO PADDLING?A school friend introduced it to me as something
to do after school 16 years ago and, as I graduallybecame more and more successful at it, it took upan increasing amount of my time.
HOW DO YOU MANAGE YOUR TRAININGAND STUDIES? HOW DO YOU DEAL WITHTHE PRESSURE?The ACCA Qualification exam sittings take placeeach year in June and December. Generally, I ambusy with World Cup races and the EuropeanChampionships in June so I sit my exams out of
the racing season in December. Because of thedifference between the physicality of training andthe mental fatigue of studying, its quite nice tofind a balance between the two.
AS A SUCCESSFUL SPORTSMAN, WHATMADE YOU DECIDE TO TAKE UP ANACCOUNTANCY QUALIFICATION?I had good A-level results in maths and businessstudies so I followed that up by studying accountancyat Kingston University, UK, which is coincidentally
where the British kayak team was training at the time.
> BACK TO MAIN ARTICLE
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
53/65
WHAT ARE YOU HOPING TO ACCOMPLISHONCE YOU FINISH YOUR ACCA QUALIFICATION?
After this years Olympic Games in London, I amhoping to take a small break from the sport to focuson completing most of my studies and gaining morework experience. Once I have finished my ACCAQualification Im looking forward to getting involved ina regular job.
DO YOU HAVE ANY SPARE TIME?I generally train six days a week, so that leaves oneday which I spend with my girlfriend, my dog, andstrangely enough watching other sports (Im a Bathrugby fan).
HAVE YOU ALWAYS BEEN A HIGH ACHIEVER?I have always done well at sport and academically.Unfortunately, neither comes without hard work.
> BACK TO MAIN ARTICLE
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
54/65
WHAT DO YOU FIND MORE EXHAUSTING STUDYING FOR AN EXAM OR RACING?There is definitely a lot more pressure with racing,with everything decided in just over 34 seconds. Also,at the World Championships last year I raced in frontof 20,000 people. But in terms of preparation, youtaper down so youre fresh for a race, whereas for anexam I find myself trying to cram in everything upuntil the last minute.
HOW HAS THE DEDICATION AND DISCIPLINEYOU HAVE PUT INTO SPORT HELPED WITHYOUR STUDIES?
Ultimately, I would have to say sport has been thebiggest distraction for my studies and future career,just because after a hard days training the last thingyou have the energy for is studying. But Im veryhappy that I have kept up with my studies.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
55/65
ON APPLYING FOR A TRAINEEROLE IN A LARGE COMPANYTOP TIPS
X
We reveal what SingerLewak one of Californias leading accountingand consulting firms looks for when selecting potential trainee
finance professionals
In todays professional services market, people make the difference.Thats why SingerLewak, one of Californias leading accounting andconsulting firms, looks so closely at the potential of prospectivetrainees to work successfully in teams and deliver client serviceexcellence.
Sally Aubury, assurance and advisory partner, describes an extensiveinterviewing process, designed with service and teamwork in mind.We want people to leave the interview with a strong sense of whatwere about, and be excited at the prospect of working here, shesays. Thats not something we feel conventional over-the-deskinterviews alone can typically provide. We put them through theirpaces, but we also introduce them to those theyd be working withdirectly if they end up starting with us.
Education, ethics, experienceBut candidates have to secure that crucial interview first. Like manyfirms, SingerLewak scrutinises CVs (and accompanying emails)for evidence of qualities indicating trainees may be worth theconsiderable investment of hiring and training them. Good academicsare important; the firm looks at university GPA (grade point average)scores, but delving deeper can reveal less tangible but equally valid
attributes.
A strong work ethic is critical, says Aubury. If someones held part-time jobs while at university, well look at the tenure of each position.While there may be perfectly good reasons for job-hopping, peoplewho have been with the same employer for the duration are probablydoing something right; thats an immediate plus point.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
56/65
CONTINUEDTOP TIPS
X
Work experience neednt be in accounting. For example, jobs incoffee shops or retail stores can develop skills that transfer well intoprofessional services, says Aubury. Listening to customers, team-working and dealing with a diverse range of demanding personalitiesamount to valuable experience, especially for client-facing roles. Wecan help talented communicators develop their accounting skills, butmany of the soft skills we need from day one are either instinctive orintrinsic and open to nurturing.
If candidates have no work experience, the firm takes a big-pictureview. Sports activities and university society memberships candemonstrate a readiness to work, a competitive mindset or the abilityto work well in teams, says Aubury. What were looking for is theability to interface with people.
Cards on the tableKaryn Gallen, who heads up SingerLewaks professional trainingdepartment, says selection procedures are thorough but ultimatelyproductive. Candidates are given written, numerical and reasoningexercises and introduced to a manager and partner, before beingtaken to a team lunch. It may seem daunting but everyone benefits,she says. The exercises show who takes control and who takes a backseat, or whos impulsive and whos methodical. If that unnerves somecandidates, its probably a good thing, as both parties can agreetheyre not well-matched before its too late.
And the lunch? It provides a less formal atmosphere for candidatesto ask potential colleagues or the previous years trainees about thefirm. But while it might be a welcome alternative to a tense secondinterview, its still part of the hiring process, and not an opportunityfor candidates to let their hair down. Its actually proved a usefulpredictor of how new hires might behave in similar situations withclients, says Karyn. And as were ultimately all about client service,thats of paramount importance, even for entry-level roles.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
57/65
WHAT ASSESSORS DO WANT
The questionnaires are not tests and there are noright or wrong answers, says Nadim Choudhury, head
of career services at London School of Business &Finance. Your true personality traits must be the rightfit for the organisation or it wont work for anyoneinvolved. You need to be honest and move fromone question to another without thinking too long instinctive answers are likely to be the most frank.
X
WHAT ASSESSORS DONT WANT
Candidates who are dishonest and who try tooutsmart them. Assessors look for consistency in
responses and can easily spot candidates who givedifferent answers to very similar questions, saysNadim Choudhury, head of career services at LondonSchool of Business & Finance. They can also spotcandidates who provide the answer they thinkiscorrect because they believe it would reflect well onthem, adds Andy Dallas, associate director at Robert
Half International. Honesty is the best policy afterall, if you are not the right fit but you pretendyouare, its most likely that neither you nor the employerwill be happy in the long term.
X
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
58/65
TOP TIPS
Be honest with yourself and in your answers,dont second guess what theyre looking for, keep
an eye on the allotted time and try to answer allthe questions, says Nadim Choudhury, head ofcareer services at London School of Business &Finance. Let your personality shine through, addsAndy Dallas, associate director at Robert HalfInternational. And if youre not a match for thisrole but would still like to work for the employer, ask
about any other suitable openings.
X
WHAT ASSESSORS DO WANT
Assessors want confident candidates with goodcommunication skills, who are able to articulate keymessages and information.
They want someone who can deliver informationsuccinctly and accurately and be relied upon to do soin front of unfamiliar audiences, says Andy Dallas,associate director at Robert Half International.Although assessors expect clear structure(introduction, exposition, conclusion and questiontime) and engaging content, theyll be especiallyconcerned about your presentation style: howarticulately you express yourself and how you comeacross, says Nadim Choudhury, head of careerservices at London School of Business & Finance.
Also, make sure you keep to the allocated time.
X
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
59/65
WHAT Assessors DoNT WANT
Candidates who havent prepared, who waffle or use
too much jargon, or who just read off the PowerPoint
presentation or their notes. Theyre looking for you
to be able to engage with the audience, says Nadim
Choudhury, head of career services at London School
of Business & Finance.
X
ToP TIPs
Practising your presentation out loud is essential,
says Andy Dallas, associate director at Robert Half
International. Speaking to an imaginary audience
may feel unnatural, but practice gives you confidence,so you must do it if you want to get it right in front of
the interviewers.
Dress smartly and dont let anything in your
appearance or your body language distract from
your talking, says Nadim Choudhury, head of career
services at London School of Business & Finance.Keep hand gestures to a minimum and dont fidget.
Look at the audience, but avoid staring at one person
throughout try to move your eyes from face to face
every five seconds. Remember, in some cultures
direct eye contact is inappropriate, and some people
just feel uncomfortable being looked at.
Vary the tone of your voice so that you dont sound
like a drone. Speak clearly and at a measured
X
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
60/65
TOP TIPS CONTINUED
X
pace. People tend to speak quickly when stressed or
nervous, says Dallas. If you feel yourself starting torush, pause for a few seconds. You can use silence toemphasise points, adds Choudhury. This also allowsyou time to think through your next point.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
61/65
KEY ADVICE Arrange a meeting to discuss the issues.
Keep professional and try not to becomeover-emotional.
Explain that you want to improve your performance
but that you feel that there is a communicationproblem. Tell your boss that you worked hard onyour report and that you are looking forward to herconstructive criticism.
Dont expect everything to change overnight butview this initial discussion as a way of puttingthe idea in your bosss head that open dialogue
is the way forward and that you are not afraid ofcriticism as long as its constructive and that youare committed to your job.
Try to stay positive.
If things dont improve, seek help from a seniorline manager before taking matters to HR.
Make notes of precise details of where you feel
your treatment has been discriminatory and why and provide clear examples.
At this point, an effective HR department willtake you through the process and tell you theoptions available.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
62/65
SHELL AT A GLANCEListings: London, New York and AmsterdamTurnover: $368.1bn (2010)Profits: $20.5bn (2010)Capital investment: $30.6bn (2010)Daily oil and gas production: 3.3 million barrelsShell service stations worldwide: 43,000Refineries and chemical plants: 30+
X
SOLEKS TOPSTUDY TIP
Never doubt your capabilities,and if a prospect is daunting,focus on your next step onlyinstead of the whole path.
X
BLACKHURSTSTOP STUDY TIP
Having a workplacementor to shareexperiences and ideaswith is very helpful.
X
> BACK TO MAIN ARTICLE
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
63/65
KEY ACTIONS FOR THE PROFESSIONFrom ACCAs perspective, if the profession is to realise its fullpotential in this context we must take the following actions:
Exploit current skills: Our technical skills and strategicunderstanding can help clarify goals and actions in the context
of climate change policy formulation and implementation,especially in MRV where we already have the skill-set required todevelop and deliver mechanisms for monitoring and review.
Renew knowledge: In a constantly evolving area, we mustcontinuously expand our knowledge base and develop newmechanisms to underpin the reporting of credible emissions
and climate change mitigation information.
Change accountancy education: We need to reshape oureducational curriculum and skills requirements both to maintainconfidence in our current ability to help mitigate climate change,and to ensure future generations of accountants have the skillsand understanding required.
Take a leading role in the debate: We must be proactive inthe development of climate change mitigation policies, usingour extensive experience of MRV to ensure credible policyframeworks and agreements are formulated.
> BACK TO MAIN ARTICLE
7/30/2019 SA February 4
64/65
THE IMPACT: WHAT DOES IT MEAN FOR ME?
Student accountants may feel that events such as COP17
although undoubtedly important play little part in their day-
to-day professional lives. But we may have reached the pointwhere ignoring the issue is no longer an option. So what should
students know, and how should they react? In essence:
climate change will impact on every aspect of business and
society being forewarned is forearmed
students should take advantage of ACCAs lead role in this
debate and investigate the wealth of resources that ACCA
provides, such as the paper on COP17 as a leading educator of accountants, ACCA will ensure
its syllabuses equip students with the skills required by a
green economy
when meeting climate change issues during study or at work,
students must give these issues the attention they deserve, as
they are increasingly relevant to the global business agenda.
WHAT NEXT?
COP17 concluded with the launch of fresh negotiations on a
new climate deal that would have legal force and, crucially,
require both developed and developing countries to cut theircarbon emissions. The terms now need to be agreed by 2015
and will come into effect from 2020. Alongside governments,
scientists, campaigners, legislators, and business leaders,
ACCA will be analysing the immediate and long-term impact of
COP17 on policy development, with an aim of strengthening its
contribution towards a more sustainable world. For ACCA, this
means engaging everyone within accountancy with the climatechange agenda especially students, as they are the future of
the profession and must be ready for the challenge ahead.
> BACK TO MAIN ARTICLE
Top Related