Six top tips for attending careers fairs Posted 10/02/2012 by Aimee Bateman & filed under Career. Attending careers fairs can be exciting and overwhelming in equal measure. To coincide with AAT’s careers event, which takes place later this week, AAT career coach Aimee Bateman offers her top tips to help you make sure you get the most out of them. 1. Do your research Treat this event just as you would an interview – because that is what it is. This event is actually lots of ‘mini’ interviews. Get a list of the companies (if possible) that will be attending, and research their websites. Discover what they do, how they started, who their competitors are and what products/services they are focusing on. Knowledge is power and you need to equip yourself as best you can to conduct intelligent, commercial conversations. Identify who you want to engage with and what you want to achieve… and stick to it, no matter how nervous you get on the day. 2. Remember the seven second rule It’s widely believed that we have approximately seven seconds to make a first impression (whether good or bad). You will be meeting potential employers, training providers and professionals who you hope to include in your network. Please don’t think this is just a day out with your friends and throw on a pair of scruffy jeans (like many of my friends did, when we went to our first careers fair). Wear something smart and ensure you look presentable. That goes for your persona, as well as your outfit. Remember to keep a big smile on your face and look confident and approachable, even if you don’t feel confident inside (fake it until you make it). 3. Practice makes perfect Prepare your ‘elevator pitch’. This is a one minute pitch that focuses on what you have to offer. What are your key skills and what are the benefits you could offer a business? There will be lots of people there and you need to impress. If you can’t tell someone how great you are and how you could benefit their business, how are they ever going to know? Now, please don’t immediately approach the people who are your top priority. I would warm up on some other stands before heading for the ones that you really want to talk to. Practice makes perfect, so build your confidence up before heading to the ones that matter to you the most. 4. Keep a record of everything Ask for business cards and make a note of all names and conversations. Did the consultant from Hays go to the same university as you? Make notes of absolutely everything. The little things do matter and will not only help you remember them, but also help you build upon these relationships in the future. Don’t think you will remember all this stuff, because you won’t. However, I would avoid making notes while they are talking to you. Stay focused and engaged, and make your notes as soon as you are away from the stand and before you move to the next. 5. Take your CV with you This may sound obvious, but you would be surprised how many people do not do this. Take a number of copies with you and insert each one into a clear plastic wallet. I’ve managed stands at these events more times than I can remember, and things can get a little hectic – we don’t want any coffee stains on your CV! Also, at the end of the day, things can get thrown into boxes and packed up very quickly. I don’t want your CV to be one of the pieces of paper that gets scrunched up and disregarded just because people may be tired or in a rush. 6. Go it alone Even if you’re attending with friends or family, make a big effort to approach stands on your own. It’s much easier for someone to build a rapport with you if you’re alone (one on one), and it also shows people that you are independent, confident and serious about your career development. It also shows that you have visited that stand because you wanted to, not because your friends have dragged you here on your way around the room. And lastly, get up nice and early on the day, have that extra bit of breakfast and ensure you arrive early to avoid the queues. Stay professional, focused and enjoy yourself. Search for careers fairs near you on the Prospects website.
Top tips for dealing with clients from hell Posted 10/01/2012 by Rebecca Wilber & filed under Run your business. Last week AAT member in practice Jenni Frost urged readers to bin clients from hell. Rebecca Wilber, partner at accountancy firm RJ Wilber, offers her top tips for ensuring you don’t ever have to During my 20 years in the business, I’ve only come across two clients who believe they are above the law. Those clients are, of course, difficult because they think the law doesn’t apply to them and that they don’t have to pay tax. But more often, when things go wrong between accountant and client, it’s down to something much less dramatic – and it can be fixed. Why you should manage expectations The first mistake people make is not managing expectations properly. When we have the initial meeting with a new client, if we don’t supply the information clearly and concisely and only focus on the money we can save them, how can we expect them to do the right thing? There is an assumption that what is obvious to you as an accountant will be as clear-cut to the client. This is not the case. It is our job to work out a system that works for both sides and to lay down the terms clearly at the beginning. Use a Prepared By Client list In general, my clients have responded positively to this. There is no messing about and I’m straight to the point and clear about what I need from them. I give them a PBC (Prepared By Client) list of things they have to give me at the end of the year. Some clients do, of course, complain that it’s too much hard work. What I do then is explain to them that they don’t have to do it, we can do it instead, but that will cost them more. For most people, this is incentive enough to do what I ask. This way, I manage expectations from the beginning, I tell them where they can save and how, and then it’s their choice to actually do it. Establish better communication The second issue is that, as accountants, we have to understand that to most businesses, doing the books is just a problem that has to be solved. They want an easy way to do this and they need guidance. It’s our role to provide that. Often, they’ve had bad experiences in the past with accountants, not necessarily because of faults of their own or the accountant, but because there’s been no communication between them. Understanding your niche Finally, many accountancy firms are niche. They specialise in certain sectors and keep clients within the same. Sometimes, when things go wrong, it’s because the client doesn’t fit the practice. In that case it is simply about the firm realising its limits and its niche, and not taking on clients that fall outside of that, as it is bound to bring complications. Simply, managing bad clients doesn’t have to be that hard. Know what you need from them and know what they need from you. Communicate early, clearly, manage expectations and be open. Then it’s their decision whether or not to accept it.
Taxing times for General Anti-Abuse Rule Posted 09/26/2012 by Tania Hayes & filed under Accountancy resources. The General Anti-Abuse Rule offers a valuable ethical, legal and professional framework on tax evasion and avoidance. But will it help accountants satisfy the all-important court of public opinion? The jury’s out, says AAT Head of Conduct and Compliance Tania Hayes HMRC has just closed its consultation on the proposed and much-publicised General Anti-Abuse Rule (GAAR). The implementation of the GAAR as a viable mechanism for countering what could be perceived as unethical (or even immoral) tax avoidance has divided opinion. Ask the BBC, Barclays or Jimmy Carr, all of whom have faced the wrath of politicians and the media for their use of avoidance schemes that have been seen as abusive. Under the GAAR, loopholes in specific tax legislation can be addressed on the basis that the mechanism used to exploit the loophole to gain a tax advantage was not what the primary legislation intended. HMRC says the GAAR would lead to a simpler tax regime for the UK by reducing the need for remedial legislation to address loopholes. But we should not rule out the possibility that it will actually increase complexity. This is because it requires the authorities to consider the spirit of any tax-avoidance scheme, and where it sits on the scale from legal avoidance to illegal evasion. This is a key issue. It is going to affect accountants, whose professional judgement will become even more important when determining the spirit of suggested avoidance schemes and their compliance with the GAAR. AAT’s Code of Professional Ethics requires accountants who provide tax services to put forward the best position for their client or employer. However, the service must be carried out with professional competence, must not impair integrity or objectivity, and must comply with the law. Clearly, the ethical accountant uses only legal means to minimise their client’s tax liabilities. But they also have an obligation to ensure their integrity – in the eyes of both the law and the public – and objectivity are not impaired. Here, the GAAR presents an interesting challenge. There is always a risk that the accountant’s interpretation of appropriate tax planning may be interpreted as ‘creative, verging on abusive’ by HMRC or the public. If this occurs there is a danger that the accountant’s client becomes exposed and the accountant has their professional integrity called into question despite their best attempts to apply ethical, professional judgement while creating the best tax position for their client. A wise AAT member once summed up ethics in practice to me by saying: ‘As an accountant I make sure that my clients do not pay a penny more tax than they need to, nor a penny less tax than they need to.’ This mantra is consistent with the outcomes the GAAR intends to achieve; the question is whether the means proposed will manage to satisfy HMRC and the court of public opinion. More information on ethics and conduct for accountants is available on the AAT website.
Beyond the books: music Posted 09/24/2012 by Louise Bell & filed under Study tips. In the fourth in a series of posts throughout September looking at the lighter side of student life, Louise Bell shows you how to let your musical side out whilst you study What do REM, MGMT, Radiohead, Public Enemy, The Strokes and the Chemical Brothers all have in common? Yes, they’re all massively successful bands – but that’s not the only answer. The thing that links them is that they all got together when they were studying. Of course, we can’t guarantee that you’ll end up playing stadiums in front of thousands of screaming fans, but if you have the urge to make music, your student years are a great time to start. Again, it’s a good way to meet people. And as a student music-lover, plugged into the local gig circuit, there’ll be plenty of opportunities to perform. Think of all those student events and parties you could play. Every star has to start somewhere… So where to begin? The obvious first step is to find other people who can play, but it’s not the only way: some bands are drawn together by a love of the same type of music, then learn as a group. Place an ad in the local paper or listings magazine, or pin it to the noticeboard at college, your favourite café or local shops. Then find a place to practise. Does anyone have access to a garage? Is there a space at college or a local church hall? Okay, that’s the easy part done. Now all you have to do is practise, practise…and practise a bit more. Spread the word When it comes to music, the internet’s got a lot to answer for. Yes, it’s brought us the Arctic Monkeys (playing small gigs one week, straight to number one the next after building up a huge fanbase on MySpace) and Lana Del Rey (rocketed to fame – and a Vogue front cover – after posting a home-made film to accompany her song Video Games on YouTube). But it’s also brought us Justin Bieber. The lesson is clear, though: the internet is a great place to get yourself heard. Tell your friends and followers where to find you online, and join relevant forums and groups. MySpace even offers design tips (check out the ‘Profile of the Day’ feature) and expert seminars on how to make your page work for you. If you’re in Glasgow Would-be guitar heroes should head to the Riverside Music Complex for weekly classes and private lessons for levels from beginners to advanced. If you’re in Liverpool Knotty Ash Rehearsal Space offers free studio space, plus tuition in DJing and songwriting Wherever you are There are always groups trying to complete their lineup, and the internet can be an ideal way to track down new bandmates. Try Musofinder or Join My Band. This article first appeared in the July/August 2012 issue of Accounting Technician, AAT’s membership magazine. Don’t miss Louise’s last post, which goes live on 1 October, which will look at how you can test your brain away from your studies.
AAT as an alternative to university Posted 09/21/2012 by Nicky Burke & filed under Career. Very few people will have escaped to notice the news that tuition fees have risen to a staggering £9k this month. For school leavers considering their next step, this presents a real challenge. The simple fact of the matter is that starting university, knowing you are going to incur large debts to cover both tuition fees and living expenses, is a worry for the majority of people and their families no matter what their financial circumstances – especially when there is no guarantee of a well-paid job at the end of it. For many years, AAT has done a lot of work promoting alternatives to university, particularly around A Level results day. But given what is currently happening in the education market, it seemed wise to promote what we offer further. We are fairly unique in the fact that we offer a non-graduate vocational route into a profession. Many of our younger students study AAT as part of an accountancy apprenticeship, which in practice means they receive training at little or no cost to themselves and earn a wage at the same time. Following AAT, many then go on to study with one of the chartered bodies and can qualify quicker than someone who has been down the university route. We decided to create a bespoke Web TV show discussing all of these issues and invited Emma Mason (who is on the school leaver scheme at Baker Tilly) and Harry Collins (on the school leaver scheme at PKF) to talk about their experiences of life after A Levels. We also involved Aimee Bateman, AAT’s Career Coach. The Web TV show was filmed live and viewers were invited to ask questions by posting on Facebook or through Twitter. The show was hosted on AAT’s Facebook page as well as 18 other external websites including the Huffington Post and Female First. You can watch a recording below: The Web TV show was supported by further public relations activity. We asked AAT students (both past and present) to talk first-hand about their experiences to journalists, and our Chief Executive, Jane Scott Paul OBE, also spoke about the education landscape and where the AAT route can take you. In addition, we used research which we had commissioned earlier in the year to provide supporting statistics on young people and their thoughts/concerns about their future. Interviews were carried out on radio as well as in print and online media. In total, we received over 100 items of coverage including BBC Radio 5 Live, the Guardian and the Huffington Post to name a few. Watch more AAT videos on our YourBigFuture YouTube Channel Keep up with AAT news by following us on Twitter: @YourAAT Find out more about AAT as an alternative to university
Why it’s okay to kiss clients from hell goodbye Posted 09/20/2012 by Jenni Frost & filed under Run your business. Fed up with putting up with clients from hell? Don’t get mad – just kiss them goodbye, says AAT member in practice Jenni Frost Problem clients. We all have them. And some of them have a Man Down The Pub (MDTP). He is an even bigger problem, an accountant’s recurring headache. The MDTP says he doesn’t pay tax. The MDTP said he only pays £50 for his tax return. The MDTP says if I get an offshore account I won’t pay tax. That’s what he does and he earns loads…One day, I’d like to meet this mythological MDTP. And I’d like to clip him round the ear with a heavy calculator. Most clients with MDTPs have the good grace to accept reality when you tell them how it really is. But some seem to want to pick a fight or, worse, decide you don’t know your stuff. Don’t you just hate that? Doesn’t it wind you up? You shouldn’t, and it shouldn’t, because you should be able to sniff them out and prune them from your client list (or not let them pass muster in the first place) Problem clients That’s right: there is no time in your life for problem clients. Maybe it’s not a client with an MDTP or the one who thinks he knows better than you at tax. Maybe it’s the guy who takes you by surprise, accuses you of lying and proceeds to rant at you for ten minutes without any just cause (never have I been so close to hanging up the phone after first venomously shouting something both unladylike and unprintable). As it was, I just burst into tears after the call ended (I’m a big softie really). And then showed him the Order of The Boot (softie, not doormat). Clients should treat you with respect and you shouldn’t have to put up with being a verbal punch-bag or having your knowledge undermined. There is a door – you are allowed to use it. Likewise the client who doesn’t pay on time (read: pays reluctantly after months of chasing), delivers her books a week before the deadline and doesn’t even say thank you for working late to stop her getting fined. You don’t need clients like that. Or the bookkeeping client who, when you advise them of your price increase, tells you, ‘Actually, we were thinking of offering you £x per hour’ – less than what they were previously paying. You don’t need to be treated like an employee, disrespected or underappreciated (I took a leap of faith on the bookkeeping client as it was a big contract, and it was my first client-sacking, but the work was replaced relatively quickly). No regrets. Don’t be afraid to say no When you’re starting, it’s hard to say no to work – especially given the state of the economy. But you are running a business, not a charity, and you deserve to be happy in your work. And indeed to get paid for it – that’s why it’s called work, not ‘doing some accounts for pleasure’. You deserve nice clients – and there really are plenty out there. I firmly believe in the Law of Attraction (if you’re interested, Google it). The more nice clients you have, the more you will attract. The more problem clients you have, the more you will attract. Even if that sounds like hippy mumbo jumbo, you may as well try it (attracting nice clients, that is, not problem ones – unless masochism’s your bag). I’m sure few practitioners have all A1 clients (I know I don’t), but don’t be one who settles for the dregs of the client base. I mean that in the nicest way. Some clients are trainable. Some aren’t. Some are so lovely you can overlook their faults. And the others? Don’t get mad. Walk.
How to enjoy student life without breaking the bank Posted 09/17/2012 by Louise Bell & filed under Study tips. In the third in a series of posts throughout September looking at the lighter side of student life, Louise Bell shows you how to enjoy your spare time without spending a fortune Even the most dedicated scholar needs to let off steam from time to time. Socialising and having fun will help you relax and keep a bit of balance in your life. Of course, you don’t need us to tell you that moderation is the key (you don’t, do you?), but the University of Melbourne cites research showing that students who combine their studies with social activities actually achieve better results. If you’re at college, again that’s the obvious place to start. The big universities don’t have a monopoly on social events. The events calendar at my old college in Norwich includes a comedy night, a musical theatre showcase, a fashion show at a local nightclub and a charity gala dinner – all in the space of a month. Of course, money can be an issue – the cost of tickets and drinks can really mount up. But there are ways to cut the cost of your social life. Start with AAT Additions, which can save you enough to make back your membership fee. Then try discount sites like Student Beans and Snapfax, which offer two-for-one restaurant deals and cheap cinema tickets – and you don’t need a student card to qualify for all the offers. But if you do have an NUS card, apply for an Extra card: the NUS reckons the average Extra cardholder saves £500 each year. If you’re in London Keep your eyes open for details of this year’s annual Night of 1,000 Waistcoats. At around £20, this quirky vintage ball is a great-value night out. If you’re in the south West Cultivate your air of mystery at the Masked Ball, one of Cornwall’s biggest parties of the year. Tickets go on sale soon for the Halloween bash on 27 October. This article first appeared in the July/August 2012 issue of Accounting Technician, AAT’s membership magazine. Don’t miss Louise’s fourth post, which goes live on 24 September, which will look at music.
How electronic payments are replacing money Posted 09/13/2012 by Steven Perryman & filed under Run your business. The new iPhone 5 may have spurned near field communication (NFC) for another year at least, but that doesn’t mean electronic payments won’t replace the notes and coins in your pocket. We look at three forms of electronic payment that could signal the end of cash Pre-paid swipe cards Pre-paid swipe cards have been around for a while. One of the first, the Octopus card, originated in 1997 as a contactless smart card for Hong Kong’s public transport system, but can now be used for payment at retail outlets and parking. The technology, which speeds up payment by not requiring a PIN or signature – just slap it on the reader – is generally limited to small payments. Providers in the UK include Visa Cash, Barclays and sQuid. Near-field communication (NFC) NFC chips and readers can be embedded in mobile devices and credit cards. The technology works over a short range and supports encryption, making it more secure than existing pre-paid swipe-card technology. Barclays set up the first commercial NFC payment system last year, in conjunction with Orange, and has since launched PayTag, which glues an NFC chip to any mobile phone. The Post Office intends to roll out contactless payment terminals, allowing NFC payments across its 11,500 branches by next month. Google has already launched its own NFC-based service, Google Wallet. App-based payment systems A growing market in the UK, application-based payments avoid the expense of chip and terminal infrastructure. Barclays has launched Pingit, which allows users to send money to another Pingit account by entering a PIN and the recipient’s phone number. PayPal has launched an app that provides a personal bar code retailers can swipe using existing scanners. Despite these advantages, app-based technology is less secure than chip-based technologies. Users are potentially vulnerable to phishing scams – attempts to acquire payment details by masquerading as a bona fide party in electronic transactions. Is this really the end of cash? Some experts don’t think so. Read our exclusive post which explores why hard currency isn’t ready for the scrapheap just yet.
Life beyond the books: writing Posted 09/10/2012 by Louise Bell & filed under Study tips. You don’t have to be at university or college to enjoy the lighter side of student life. In the second of a series of posts throughout September, Louise Bell shows you how to use your writing skills to good effect The student newspaper is a great British tradition – The Student, Edinburgh University’s official paper, was established in 1887. BBC royal correspondent Nicholas Witchell edited Leeds University’s Leeds Student, as did Daily Mail editor Paul Dacre. But even if you’re not planning a career in the media, writing – whether it’s about the latest student issues or your own passions – is a fantastic way to cultivate employer-friendly skills. Getting your thoughts in order, prioritising important information and telling your audience what they need to know are all useful transferable skills, whether you’re putting together a presentation, compiling a report or just writing an email. And sharing your thoughts with others is a great way to get involved in the community, whether it’s a community of students, music nerds, computer geeks or anything else. And that’s the key, really. When you’re studying accountancy, the last thing on your mind may be your written skills. But you’d be wrong to think like that. Strong writing skills are just as important and form a big part of the AAT Accounting Qualification, especially at Level 4. There are loads of practical guides to writing out there for news stories or the web, but your stories won’t come to life unless you’re passionate about the subject. If you’re at a college, see if it already has a paper or magazine you can write for (and if it hasn’t, why not set one up?) Otherwise, try approaching publications and websites you like – within reason – if you love music, think local listings magazine rather than the NME, at least to start with. And there’s also right here on AAT Comment, where we’re always hunting for writers keen to discuss their experiences of being an AAT student. Drop us a line now if you would like to get involved. Keep it brief – editors are busy people – include a short sample of your writing and try to show that you know something about the publication and its readers. Follow up with a phone call. And remember, newspapers and magazines need photographers and designers as well as writers. If you’re in Manchester… News Associates run free sports and general journalism workshops (also available in London) If you’re in Wales… Let 247 and Buzz, two great free listings magazines (with online versions, too), inspire you to start writing your own reviews Wherever you are… The National Student is a free, independent student paper, covering news, entertainment, sport, travel and technology This article first appeared in the July/August 2012 issue of Accounting Technician, AAT’s membership magazine. Don’t miss Louise’s third post, which goes live on 17 September, which will look at socialising and having time off from the books.
Making the Games happen Posted 09/07/2012 by Steven Perryman & filed under News. The flame will finally go out on a glorious sporting Summer this weekend when the Paralympic Games come to a close. We meet AAT members and staff who have played their part in making it all happen. Games Maker: Ian Smiler FMAAT The media mover – Ian Smiler FMAAT, Chair of AAT’s East Kent Branch My role was working at the Bloomsbury Media Hub, in Russell Square. The world’s media were housed in hotels and university student accommodation (vacant in the summer holidays) found in this part of London, and a temporary bus station was set up to transport them to Stratford or other Olympic venues. My role was to man one of the bus stops ensuring the media caught the correct bus to their chosen destination, or to assist with return back to their accommodation via the shuttle services if required. As a volunteer I was invited to attend a rehearsal of the opening ceremony. There was such elaborate detail to the presentation and the acoustics in the stadium were fantastic; everyone was jumping with joy by the end. On the day of the opening ceremony I was sent to a hotel in Greenwich, to ensure the press staying there got to Stratford in time. After my shift I went to Stratford myself and watched the opening ceremony on a big screen and marvelled at the fireworks at the end of the evening. Another surprise was the opportunity to visit the Olympic Park. I was able to see all the sporting venues (from the outside) and the rest of the park. It was packed – I’ve never seen so many people enjoying themselves so much. I am very pleased to have volunteered to part of London 2012. I met many interesting people and there was a great camaraderie amongst the volunteers. It was a once in a lifetime experience and well worth the effort. Games Maker: Steven Perryman The athlete interviewer – Steven Perryman, AAT’s Editorial Manager My role was a Flash Quote Reporter in the velodrome. There is an area of the venue called the Mixed Zone where athletes ‘mix’ with reporters straight after competing. In the velodrome it is track centre, right in the thick of the action. My role was to interview athletes in this area and upload my quotes to a central system which was accessed by the world’s media. It was quite stressful – we had just 15 minutes to file quotes, so they were on the system as soon as possible. It is amazing then seeing your quotes popping up in newspapers and websites across the globe almost straight away. Each day we would be assigned a medallist to interview at our team briefing. Of course, we would not know who that person was until the race was run. Some days I was interviewing riders who had come fourth (not an easy interview) and on others I was interviewing the Great Britain gold medal winning riders. No day was ever the same. I was fortunate enough to be assigned the gold medallists in both the keirin races, meaning I got to interview Victoria Pendleton and Sir Chris Hoy after their respective victories. It really is one of the best volunteer roles to have got – seeing the athletes up close straight after their moment of joy (or tragedy). I even set up my own blog to document my experience. Probably my over-riding memory was of interviewing an American rider called Jimmy Watkins, who had come fifth in the Men’s Sprint. He is actually a full time fireman back home and trains in his spare time. He was over-joyed just to be there and fifth, he said, felt like winning. It was a sobering reminder that not all the athletes train and compete full time. For me, being a Games Maker was an unforgettable experience. I even grew to like the uniform. I am already looking at volunteer opportunities at other sporting events. There can’t be a better endorsement of my experience than that. Torch bearer: Jen Hall The torch bearer – Jen Hall, AAT student As an official sponsor of the 2012 London Olympic Games, Proctor & Gamble (P&G) gave its employees the opportunity to nominate to become a torch bearer. Jen was nominated to take part for her outstanding commitment to the Manzini Youth Care, which fosters a close bond between her old school, St Anthony’s, and an orphanage in Swaziland. She carried the torch in Newcastle in June. “I was thrilled to be given the chance to be involved in the Olympic Games, it really is a once in a lifetime opportunity. “I have been able to obtain a good balance between my charity work and study. I have been fortunate enough to visit some of the orphanages in Africa and have taught English to orphaned children between the ages of 8-19.”