SA February 4

feBrUarY 2012
Working life ACCA students At shell cliMate change PlAy your PArt Managing conflict
Avoiding tActics
EditoRs cHoicE
Welcome to the February issue of Student accountant. this issue includes features on managing office conflict, climate change and working at shell. We also speak to olympic hopeful and ACCA student ed McKeever about how he balances training and studying, and recruitment consultants explain what skills are most soughtafter by employers at the moment. technical content includes a number of taxrelated articles, a look at business valuations relevant to Paper F9 students, and analysing Paper P5 questions. Finally, dont miss the important news about exam results, June 2012 exam dates, exam entry process, information about fees and the Bsc in Applied Accounting from oxford Brookes university in the noticeboard section. Victoria Morgan editor, Student accountant magazine
Published by the Certified Accountants educational trust in cooperation with ACCA. the Council of ACCA and the publishers do not guarantee the accuracy of statements made by contributors or advertisers, or accept any responsibility for any statement which they may make in this publication. no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying or otherwise, without prior written permission of the publishers. CAet 2012 Issn 14730979
WELCOME
Student Accountant February 2012
CONTACTS
dispatch
06 GRAPHICS NEWS* 08 PICTURE NEWS* 10 NEWS ROUNDUP
features
24 MANAGING CONFLICT 26 OCUS ON SHELL F 28 LIMATE CHANGE C AND ACCOUNTANTS
learning centre
12 14 16 18 20 22 RECRUITMENT REQUIREMENTS PROFILE: ED MCKEEVER WORKING LIFE TALKING TECHNOLOGY ACCA CAREERS PRESENTATION TIPS
technical
30 TECHNICAL ARTICLES RELEVANT TO FOUNDATIONS IN ACCOUNTANCY AND ACCA QUALIFICATION STUDENTS Access the technical article archive at: www2.accaglobal. com/students/student_ accountant/archive
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resources
38 NOTICEBOARD
How do you manage the work/ study balance? Let us know your top tips and you could be in a forthcoming SA feature. Email us at studentaccountant@ accaglobal.com
ct ing a nc bala
* Page spreads available in digital magazine only
Why did you want to become an accountant, and what do you hope to be in the future? Email your story to us at studentaccountant@ accaglobal.com
whats your story?
ack email your feedb
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dIsPAtCh
nEws RounduP
RussiA AdoPts ifRs

nEw islAmic bAnking RulEs AfRicAn councils PRAisEd sHiPPing Accounting oPAQuE nEw communicAtions stAndARd PRAdA cHAiRs ifRs foundAtion
Russia has adopted International Financial Reporting Standards (IFRS) in full, with the countrys Ministry of Finance, Minfin, signing an order to implement IFRS. This has now been registered with the Ministry of Justice, published in the countrys official Gazette and is now in force. From this year, credit institutions, insurers and listed companies must issue a full set of IFRSconsolidated financial statements.
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leArnInG Centre
REQuiREmEnts
We InVestIGAte the toP reQuIreMents FroM leAdInG reCruIters And hoW eMBrACInG theM WIll helP Boost your CAreer ChAnCes. Alex MIller rePorts
REcRuitmEnt
Click here to read more
toP tiPs
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leArnInG Centre
student Accountant February 2012
Ed mckEEvER
olyMPIC MedAl hoPeFul ed MCKeeVer sPeAKs to student ACCountAnt ABout the ChAllenGes he FACes WIth MAnAGInG A 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...
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 dEcidE to tAkE uP An AccountAncy QuAlificAtion?
PRofilE
wHAt ARE you HoPing to AccomPlisH oncE you finisH youR AccA QuAlificAtion? do you HAvE Any sPARE timE? HAvE you AlwAys bEEn A HigH AcHiEvER? wHAt do you find moRE ExHAusting studying foR An ExAm oR RAcing?
EmAil youR fEEdbAck
PAddling to victoRy
How HAs tHE dEdicAtion And disciPlinE you HAvE HAd to Put into sPoRt HElPEd witH youR studiEs? do you know Any AccA studEnts wHo ARE comPEting in nAtionAl sPoRting comPEtitions? email their details to us at studentaccountant@accaglobal.com and they could feature in a future issue of student Accountant.
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leArnInG Centre
JoAnnE cotton
mAnAgER, bAinEs JEwitt Location: Stockton-on-Tees, UK Passed final exams: June 2004 Achieved membership: October 2004
woRking lifE
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leArnInG Centre
onlinE
tAlking tEcH
IF you hAVe ACCess to An Internet ConneCtIon And you Are stIll PAyInG A teleCoMs serVICe ProVIder For lonG dIstAnCe And InternAtIonAl CAlls then you Are oVerlooKInG An oPPortunIty to sAVe Money PersonAlly And ProFessIonAlly
tAlk is cHEAP
EmAil youR fEEdbAck
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LEARNING CENTRE
maKinG the most oF accas caReeRs poRtal

ACCA Careers welcomes new bloggers
acca caReeRs

Rebecca GRantham htet htet Win aye Khadijat ezimoKhai
top tips
oveR 250 neW job postinGs have been added to acca caReeRs in the last WeeK. bRoWse and apply FoR all available vacancies on one platFoRm
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leArnInG Centre
cAREER skills
How to tAcklE PERsonAlity QuEstionnAiREs

these Are PoWerFul tools thAt AlloW eMPloyers to PredICt your BehAVIour At WorK. WIll you FIt Into the role? WIll you WorK Well WIth others? Are you A MAtCh or WIll you ClAsh? IWonA toKCWIlde rePorts
How to tAcklE PREsEntAtions

An InterVIeW PresentAtIon Is the IdeAl oPPortunIty For you to shIne, to shoWCAse yourselF And your AChIeVeMents. It Could Be WhAt ClInChes the deAl, so you Must PrePAre Well And leArn to Control your nerVes, sAys IWonA toKCWIlde
EmAil youR fEEdbAck
wAnts
dont WANTS
toP tiPs
wAnts
dont WANTS
toP tiPs
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FeAtures
mAnAging woRkPlAcE conflict

WorKPlACe ConFlICt CAn not only MAKe your ProFessIonAl deVeloPMent next to IMPossIBle But It CAn MAKe you unhAPPy, stressed And Ill. And IF eVer there WAs A tIMe thAt you Could thInK, IVe hAd enouGh oF thIs, IM out oF here And sWAn oFF Into Another JoB, 2012 Is not the yeAr In WhICh to do It
PRoblEm solvEd:
I 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 final approval. 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. Click here to read more
AccA studEnt cAsE study
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REAd An ExPERts AdvicE
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FeAtures
WhAts It lIKe to WorK For shell, the 76Bn GloBAl enerGy And PetroCheMICAls GrouP WIth Around 93,000 eMPloyees In 90+ CountrIes?
focus on sHEll
At A glAncE
blAckHuRsts toP study tiP
solEks toP study tiP
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FeAtures
wHERE to nExt?
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 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 climate change agenda especially students, as they are the future of the profession and must be ready for the challenge ahead.
climAtE cHAngE And AccountAnts
As ClIMAte ChAnGe tAlKs CAMe to An end In durBAn In deCeMBer 2011, ACCA WAs AMonG the MAny oBserVers Keenly AWAItInG the outCoMe
downloA d REPoRt
the accountancy profession can, and should, make a significant contribution to the global communitys efforts to confront climate change.
helen brand, acca chief executive
EmAil youR fEEdbAck
kEy Actions
tHE imPAct
wHAt nExt?
Supporters of the Rural Womens Assembly sing and dance during a protest at speakers corner in Durban
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teChnICAl
businEss vAluAtions
releVAnt 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
cHARgEAblE gAins
releVAnt 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.
ExAm suPPoRt
REAding tHE QuEstion REQuiREmEnts of PAPER P5

releVAnt 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.
nEw comPAniEs stARt-uP REliEf

releVAnt 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.
vAluE AddEd tAx PARt 1

releVAnt 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.
cAPitAl gAins And inHERitAncE tAx

releVAnt 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.
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Continue to next page
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teChnICAl
tRusts And tAx
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.
ExAm suPPoRt
coRPoRAtion tAx PARt 1

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.
tAxAtion of An unincoRPoRAtEd businEss

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.
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teChnICAl
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 on www.accaglobal.com and are extremely valuable resources. Each set of interviews can help you prepare for your exams in different ways and, when used in conjunction with the paper resources available, they can make a big difference to your studies.
ExAm suPPoRt
ExAminERs APPRoAcH intERviEws

The examiners approach interviews are very useful when you are undertaking a particular paper for the first time, giving you a real insight into what examiners are looking for in terms of exam performance. They cover the main themes of each paper and give information on the style of the exams and how they are structured. They also advise on exam technique, with tips on how to succeed and potential pitfalls to avoid. The examiners approach interviews complement the examiners approach articles, which were written to give guidance on how to tackle each exam paper. These resources contain similar information but the difference in delivery method can be a useful advantage when studying and may give you a better chance of absorbing the examiners advice. The examiners approach interviews also contain useful links to other relevant resources for your exam.
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teChnICAl
ExAminERs AnAlysis intERviEws
The examiners analysis interviews build on the examiners approach interviews. They highlight where students are performing well, where students are performing less well, and give advice on how students can improve performance in problem areas. Its never too soon to start listening to the examiners analysis interviews, but they would probably be most useful once you have covered the syllabus and are starting to think about the detail of a paper and how to apply what you have learned in the exam.
ExAm suPPoRt
They are designed to give guidance around which areas of the syllabus students have been struggling with in recent exam sittings and how students can tackle the difficulties others have been having. The analysis interviews are closely related to the examiners reports, which are published after each exam session. They bring together the examiners reports from the first three sessions of the ACCA Qualification, illustrating that some mistakes are being repeated consistently and highlighting critical areas of the syllabus to focus on. Remember, this does not mean one of those areas will necessarily be examinable in the next session. The ACCA website also features examiner interviews recorded at last years Learning Providers Conference. It is still vital to make use of the individual examiners reports available in Student Accountant and on the ACCA website, as well as listening to the analysis interviews. After you have worked through a practice question, refer to the relevant examiners report and you will find an analysis of that question, what the examiner is looking for in a good answer, typical answers given by students, why they might not be relevant and so on. All of these resources and others such as the Syllabus and Study Guide, past papers, examinable documents and technical articles can be accessed at www2.accaglobal.com/students/ acca/exams/
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RESOURCES
Student Accountant February 2012
staYinG ConneCted
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 Connect is available 24 hours a day, seven days a week, 365 days a year providing global support at times convenient for you. ContaCt details Telephone: +44 (0)141 582 2000 Email: students@accaglobal.com myACCA: https://portal.accaglobal.com
Fees
Annual subscription 2012 Please note that, as a student, you are required to pay an annual subscription for each year you are registered with ACCA. The following fees and subscriptions apply: ACCA Qualification students 77 Initial registration *77 Re-registration Annual subscription 77 *plus unpaid fee(s) Foundations in Accountancy students 77 Initial registration 77 Subscription
oRGet to pay you r fe Dates by w es on time. hich fees a subscripti nd ons must be p and arran gements fo aid, r how payment m ust be ma de, are includ ed in your ACCA welcome p ack. dont F
aCCa ConneCt
Rules and ReGulations

ACCAs 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/
email YouR FeedbaCk
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resources
TIMETABLE
Dates have been confirmeD for the next exam session for acca Qualification anD founDations in accountancy papers
JUNE 2012 EXAMS
Monday 11 June FTX Foundations in Taxation F5 Performance Management P7 Advanced Audit and Assurance Tuesday 12 June MA2 Managing Costs and Finance FFM Foundations in Finance Management F6 Taxation P4 Advanced Financial Management Wednesday 13 June FA2 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 Accounting F3 Financial Accounting P2 Corporate Reporting Wednesday 20 June FA1 Recording Financial Transactions FMA Management Accounting F2 Management Accounting P1 Governance, Risk and Ethics
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student accountant february 2012
!
NOTICEBOARD
EXAM ENTRY INfORMATION
The 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.
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.
KEEPING YOU INfORMED
The 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/consent for further information.
CLOSING DATES TO REMEMBER fOR JUNE 2012

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)
email your feedback
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resources
CHANGES TO EXAM RESULTS DATES
The December 2011 exam results will be made available to view online the week commencing 13 February 2012, and an official exam results notification will be sent to you by email or SMS.
NOTICEBOARD
RECRUITMENT REQUIREMENTS
Most trainees consider what their recruitment company is, or should be, doing for them in relation to finding a new job and rightly so. Many will consider this aspect as a key issue in determining which recruitment companies to choose in the first place. However, it will also likely prove beneficial to flip the question around and ask yourself what it is you can do to help your recruiter help you. This is because there are a number of key areas that recruitment companies are constantly asked about from their clients looking to employ trainees. Soft skills in demand Page Personnel Finance managing director Peter Istead says his recruitment company has noticed several skills that are most in-demand from employers, as have other top recruitment companies. We have noticed a high demand from clients for part-qualified candidates with exceptional soft skills, explains Istead. Soft skills are what differentiate you from other candidates. In particular, excellent communication skills to interpret technical content and clearly explain this in everyday language to a nonspecialist audience. Paul Strong, associate director at Robert Half UK, agrees: The finance team is increasingly called upon to partner with non-finance departments, such as operations and sales, to deliver a more effective and financially-sound business strategy. Strong communication and presentation skills, as well as the ability to explain financial information to non-financial
> BACK TO MAIN ARTICLE
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audiences, is a critical ability for accountants looking to play an indispensable role within their organisation. Commerciality According to a recent Robert Half survey, around one in five CFOs believe that the lack of commercial skills within their teams has a negative impact on their business. This is a clear demonstration that reinforces the fact that employers are looking for individuals who have both the requisite technical accounting knowledge and commercial acumen to understand how the finance function can drive sustained growth and efficiencies. Commercial awareness also includes having good business sense, being aware of whats going on in the industry and being able to clearly demonstrate return on investment for different types of business activity. A lot of our clients are looking for candidates that can hit the ground running, so advanced Excel skills and knowledge of accounting software such as Sage, SPSS and Crystal Reports are very important, says Istead. A good way to advance your IT skills is to get hands-on experience, so if you havent already, look into getting some experience by temping. Exams and experience As technical skills are a pre-requisite, many employers will rank candidates on their academic history obviously passing your exams at the first attempt is very attractive to potential clients and will put you at the top of the list. But if you dont have first-time passes, industry
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experience is perhaps the next most desirable quality in trainees. The best candidates will have both a professional finance qualification and a proven track record of hands-on experience, explains Istead. Core competencies In the current economic climate, it is important to remember that many employers are having to go to great 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 looking for trainees who meet all the competencies laid out in their job specifications. In turn, recruitment companies need to ensure that you, as a trainee, meet these competencies. James Brent, business director at Hays Accountancy & Finance, provides guidance on meeting the competencies laid out in job specifications. In order to be successful, you need to prepare, prepare, and then prepare some more, he says. If you are applying for a specific role, thoroughly research the organisation and role. Make sure you can comfortably provide an example for each competency and can talk confidently about your relevant experience. Accountants may have fared well in the recession, but they are still faced with intense competition for jobs and so need to make sure they are in the best position to secure an interview and convince a future employer how they will add value. Strong competition The quest for newly qualified accountants has resulted
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in strong competition from vying companies looking to recruit and groom future leaders, adds Strong. Reduced hiring levels throughout the downturn have resulted in a smaller pool of individuals with the skills and qualifications required by companies to help navigate the ever-changing economic landscape. While it is true that good recruitment companies will offer valuable advice, it is important for you to be as clear as you can in terms of where you want to work and what you want to do. The more accurate picture the recruiter has of your capabilities and interests, the better it is for everyone and this will allow recruiters to ensure they put you forward for the right jobs and, as a result, increase your chances of success.
WORKING LIFE: JOANNE COTTON

After 10 years at your current workplace, what has been your career highlight so far? Passing my ACCA finals and becoming an ACCA member were my career highlights, and also a relief! At the time, I hadnt appreciated to what extent the learning had only just begun. I remember the first time that I was assigned a new client to work with. I felt a real 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 a broad range of industries. I am also heavily involved in the audit of some UK subsidiaries of German group companies; this requires knowledge of international standards as well as UK generally accepted accounting principles. I spend a lot of my time working at clients premises, which gives me a greater insight into the ethos of a business. Where would you like to be in five years time? I hope that there will be opportunities for me to become more involved with the specialisms within the firm. I would also hope to be working on larger group companies, perhaps with overseas aspects. What would be your top tips for ACCA students? Passing exams is excellent but there is still so much to be learned, thats why completing ACCAs practical experience requirement is so important. It is also vital to try and establish a healthy work/life balance early on when you become an ACCA member. And remember that it is OK to ask questions.
WORKING LIFE: JOANNE COTTON
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As a keen runner and rock climber, how do you find spare time for sports? I dont find time, I make time! I always try and book my sports and social appointments in my diary a few weeks in advance. I am a healthier and happier person for having these interests.
TALKING TECHNOLOGY: TALK IS CHEAP ONLINE

Nowadays, money-saving opportunities are literally at our fingertips when you consider the possibilities of making and receiving voice and video calls, as well as tapping into a host of business telephony services, simply by signing up with a service provider that uses internet-based networks to provide low-cost telephony. This is done using TCP/IP (Transmission Control Protocol/Internet Protocol), a suite of communications protocols for moving data around various networks including the internet. When the data is audio (and video) the process is called Voice over IP (or VoIP); it generally goes by the simpler term internet telephony, though in the workplace this may be provided via an IP-PBX (private branch exchange) or Unified Communications (UC) system. In its infancy, internet telephony didnt go any further than making calls between computers that were equipped to handle sound through built-in recorders and speakers, plug-in headphones and microphones, or special internet telephones. These capture speakers voices, which are then digitised, assembled into small packets of (IP) data, and then transmitted at intervals so close together that they can be reassembled to create sound, or sound and images, that appear to be continuous. Once the next step was taken, and these calls connected beyond the internet, across local telephone networks and on to any regular landline or mobile phone, the
TALKING TECHNOLOGY: TALK IS CHEAP ONLINE CONTINUED

possibilities (for services and cost savings) expanded exponentially and so did the number of internet service telephony providers (ISTPs). The most widely known is probably Skype (which was created by a startup 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 of the thousands and the near ubiquity of mobile phones that can access the internet using WiFi, 3G and 4G cellular connections makes low-cost international calls a mobile phenomenon too. With the right service provider you can use a computer, landline or mobile to call, instant message or text for a fraction of what it would otherwise cost. Businesses can also benefit. A virtual IP-PBX (private branch exchange) offers the features and functionality of its hardware predecessor, but at a fraction of the cost. An IP-based unified communications system brings voice together with collaboration services, such as email, calendaring, instant messaging and presence (the location of users and/or who is online), and creates a single inbox thats accessible from anywhere, via any internet-enabled device.
MAKING THE MOST OF ACCAS CAREERS PORTAL

ACCA Careers welcomes new bloggers Three new bloggers have joined ACCA Careers to regularly share their experiences of studying the ACCA Qualification, the recruitment process, and more. ACCA student Rebecca Grantham has made the career switch from teaching to accountancy and recently sat her 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 experience requirement (PER). Htet Htet Win Aye is an accountant in Singapore with 10 years experience. Her blogs will consider the work/ life balance while studying for ACCA, the dilemmas she has encountered as a student accountant, and finding a workplace mentor. Khadijat Ezimokhai, originally from the United Arab Emirates, 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 international students seeking relevant work experience.
HOW TO TACKLE PERSONALITY QUESTIONNAIRES

There are only three questions any employer needs to answer during the recruitment process. First, do you have the right academic background, skills and experience? Second, are you enthusiastic and motivated? Finally, are you going to fit in? The second and third of these questions are largely about your personality and this is what really matters for the overall success of every organisation. If the team doesnt work well together, productivity and quality of service suffers and profits go down. Personality questionnaires aim to assess aspects of your behaviour, your attitudes and opinions, your motivation, interests and values. Your results are then compared to the characteristics essential for the role. For example, a successful candidate for a sales position with a local bank could be expected to be persuasive, competitive, energetic and outgoing. So, a candidate who doesnt have these character traits may not be suitable for this particular role (which doesnt mean they wouldnt make a perfect fit with a different employer or with a different role). If you worry the employer wont like who you are, you may be tempted to try and cheat the system and give them the answers you think theyre looking for. But is this the right move?
HOW TO TACKLE PRESENTATIONS

The presentation is a common feature at graduate or trainee assessment centres, and some organisations also use it to test part-qualified and qualified candidates. You may be asked to prepare a presentation on a certain topic or on a topic of your choice; it may be an individual effort or you may have to speak as part of a group; you could be asked to prepare a five-minute speech on the day or to do a longer presentation that you can prepare in advance. Delivered well, a presentation can certainly enhance your chances of success. However, it can also have the opposite result due to nerves, lack of preparation and lack of focus. So, what do you need to do to get it right on the day?
MANAGING THE WORKPLACE CONFLICT

Workplace conflict can not only make your professional development next to impossible but it can make you unhappy, stressed and ill. And if ever there was a time that you could think, Ive had enough of this, Im out of here and swan off into another job, 2012 is not the year in which to do it Regardless of whether you have been in the workplace for a number of years already before choosing to do your accountancy qualification or whether you are a young student just starting out in your professional life, the chances are you dont feel quite as confident about life in the office as you would have done 10 years ago. The world, after all, has changed and we should all feel happy and grateful to be in work, right? But what if work is miserable because you dont get on with a colleague or, worse still, your boss? Understanding what can go wrong in relationships can go a long way to solving the problem and teach you how you should deal with workplace conflict and what help is available to you. There is both a common-sense approach and also a more formal line of conflict management to consider (they are often not the same thing!). But while trying to sort out problems yourself to make your work and personal life as content as possible, dont forget that employment law exists to protect both employer and employee; it may be that this course of action is both required and will ultimately be most successful.
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First, though, why does it even matter whether we get on with our colleagues or not? We dont have to like the people we work with, but it helps if we can at least respect the fact that they may have opinions that are different to our own, says Dr Rob Yeung, director at leadership consultancy Talentspace and author of E is for Exceptional: The New Science of Success. So just because you dont like someone doesnt mean that they are automatically wrong all of the time. Its worth listening even to people you dislike because what they say may often make good sense. The alternative is to be surrounded by people who simply say yes to everything and thats how bad decisions end up sometimes being made. Dr Yeung warns against the sometimes natural reaction of trying to let things that annoy you simply go away because there is then the chance that bad feeling will fester. Suppose you think someones made a mistake but you let it go on that occasion, he says. Ignore it several times and you may get more and more frustrated until you end up blurting something out. By that point, the situation has blown out of proportion. So it can be helpful to resolve issues early on by giving people constructive criticism. That doesnt mean that we should criticise every little thing that our colleagues do, but to raise moderate issues before they become major ones.
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 omnipotent being who knows every single fact that has gone on. So we would all do well to remember that we can only ever share one side of the story and that we must ask people for what they think happened or the reasons they behaved the way they did. These are all common-sense approaches to issues that are thrown up when there is a personality clash between two individuals in the office. Sometimes that bad feeling will turn into something more serious. If you really feel as though it is impossible to work with a colleague, is there anything you can do about it other than quit? Try raising the issue in a calm fashion, suggests Dr Yeung. Perhaps say something like: I feel that were not working as well together as we could do and suggest that the two of you go for a coffee or a drink after work. Getting out of the office environment can make a conversation feel less stiff and formal. Tell your colleague how you feel and ask for their perspective. Avoid at all costs getting into an argument about what may or may not have happened in the past. Instead, focus on how the two of you will work together in the future. Focus on what you can influence going forward, not what you cannot change from the past.
CONTINUED
Of course, sometimes these solutions will not work and a problem is too deeply entrenched in a toxic relationship that can be described as bullying. At which point, its time to get other people involved. A recent study from the UKs Chartered Institute of Personnel & Development shows that the scale of workplace conflict is remarkable and has increased during the recession. Over half the respondents said their organisation has increased its use of disciplinary action (49.5%), grievance procedures (47.7%) and mediation (49.4%) during the past two years. The high proportion of respondents saying that their organisation makes more use of mediation is encouraging, but is overshadowed by the proportion making increased use of training line managers in handling difficult conversations. Two out of three respondents (65.3%) say that troubleshooting by the HR department has gone up, reflecting the increased volume of disciplinary and grievance cases. Its important to remember that not all conflict is bad. Although conflict can become destructive and damaging if the boundaries are crossed, healthy conflict can be a springboard for constructive analysis of work and a dynamic and motivated workforce. Its also wise to take responsibility for your own behaviour in the office and keep that common-sense
CONTINUED
approach in potentially dangerous work situations where emotions are more likely to come to the fore. Remember that a corporate social occasion or the office Christmas party are still work events, says Dr Yeung. Yes, let your hair down and enjoy yourself, but dont do anything that could be career-limiting. Its like going to a party with your parents-in-law. You have to remember that your peers and close friends may let you get away with things that you do for laughs or because youre being ironic. However, senior managers or just those who dont know you well enough may misinterpret situations or find your behaviour inappropriate.
FOCUS ON SHELL
Alan Blackhurst, 30, from Chapelhall outside Glasgow, UK, and Agnieszka (Aga) Solek, 37, from Rzeszw in southeastern Poland, are both studying for their final ACCA exams through Shell and work at the groups Business Service Centre in Glasgow. This is one of Shells five finance operations hubs around the world that handle processes including expenditure, revenue, data management, management information and various record-to-report activities. The other four centres are in Manila in the Philippines, Chennai in India, Kuala Lumpur in Malaysia and Krakow in Poland. Even just within this office there are so many different nationalities, explains Blackhurst, who joined Shell in 2007 after a degree in accountancy from Glasgow Caledonian University and a spell at Aon, the global risk management group. On top of that, many people you connect with in the business are based in other countries. Its a normal day to have a teleconference with about five different countries dialled in. Solek studied for five years at Krakows Academy of Economics and was branch controller of development group Skanskas roads and bridges branch in Rzeszw for six years before joining Shell in 2007. Its a very open place to work and you get this feeling that youre part of something bigger, she says. You can meet so many people and learn many things. Changing your job is also quite easy, so its a good way to gain a lot of experience in a short space of time. Blackhurst is a governance risk and assurance adviser working with Shells controls assurance team. His job
FOCUS ON SHELL
CONTINUED
involves testing and working through controls relating to the SarbanesOxley Act (SOX), the post-Enron legislation introducing enhanced standards for all US public companies. Because weve got a listing on the New York Stock Exchange were required to report on our control effectiveness in the annual report each year, he explains. The SOX controls report the major risks to the financial statements and weve got a procedure in place to check them, report on their effectiveness and remediate any controls that arent effective. If these werent corrected by the end of the year theyd have to be listed as deficiencies. We also test a number of key controls that arent reported for SOX but still support the Shell control framework. Solek is a project accountant providing management information to Shells Downstream Retail IT business. This includes Shells Global Site Systems Project a $120m per year programme to upgrade and replace dated IT infrastructure across Shell sites worldwide, including the card payment systems used at Shell petrol station forecourts. Its the biggest and longest-running retail IT project of its kind and I think we probably have the biggest offshore management information team of any company in the world, says Solek. Im responsible for costs accuracy and analysis, which leads to a more robust planning process and more reliable forecasting of business spend. Greater clarity on where were adding value and increased predictability of spend in turn helps to lower the volatility of share prices. The stakeholders I report to range from project managers to
FOCUS ON SHELL
CONTINUED
the programme director. Solek is just waiting for results of her final exam Paper P4, Advanced Financial Management while Blackhurst is waiting for his results for Paper P7, Advanced Audit and Assurance. So how has studying helped with their work and vice versa? Doing my exams has given me a technical knowledge thats helped me a lot, says Blackhurst. Ive recently moved into a new role and the knowledge gained from my studies on financial statements and the risks involved has made it much easier for me to do that and has eased the training process a little. Conversely, my job also helped me study towards my exam on audit and assurance as my role features a lot of internal audit work. Improved speed, confidence and professionalism in her work have been key benefits for Solek. The main advantage for me has been understanding how the separate parts of financial management, managerial accounting, financial accounting and ethical aspects all fit together and fit into the big picture, she says. I think thats given me the edge when Im talking to people from Shell at a senior level because I know what Im talking about and what I need to focus on. Shell has supported Blackhurst and Solek through their ACCA exams by providing tuition classes, the exam fees, a revision class and five days study leave. However, both feel Shells mentoring circles have provided the most value.
FOCUS ON SHELL
CONTINUED
Each mentoring circle has a few qualified ACCA members and some students, explains Blackhurst. We all meet quarterly to discuss any developments within ACCA and the exams. The mentors also give you advice about what sort of roles to aim for and encourage you to develop. They could be team managers or analysts, but theyre all qualified ACCA members who give us the benefit of their experience. For Solek, informal networking around the mentoring circles was also a huge support. It really helped me out because whenever I struggled I knew that there was someone I could go to and ask advice or just to give you encouragement, she says. Obviously you bond with your peers too so you talk to each other over lunch. The circles are very small and you can move from one to the other, so it gives you this really wide base of people that you can talk to. In terms of career progression, Blackhurst admits: Ive not really got a vision because when I left university the 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, management information teams and other teams in governance risk and assurance that have roles Id be interested in. But really for me its just a case of working hard in my current role and taking advantage of any opportunities that come my way. Solek doesnt have a long-term plan either but is keen to continue learning on the Global Site Systems Project. I would like to benefit from it for a couple more years
FOCUS ON SHELL
CONTINUED
because I think my skills are quite good within the accounting of long-term projects, she says. Management information has a long way to go in many companies and Ive been lucky to work with and learn from brilliant managers and leading companies within this sector.
OXFORD BROOKES: BSc HONOURS

Eligibility The degree must be completed within 10 years of your initial registration on to ACCAs professional qualification; other wise, your eligibilty will be withdrawn. Check your eligibility status at www2. accaglobal.com/students/bsc/ Online RAP submission Research and Analysis Project submissions and re-submissions including payment for Period 24 (May 2012) should all be made online. A link with instructions of how to submit and pay online will be made available from 1 May to 25 May; all submissions have to be completed within this period. Students can no longer send hard copies to the ACCA office at Oxford Brookes University as these will not be accepted. The cost of submission for Period 24 is 135. Students will be required to upload their Research and Analysis Project files which can be in all major file formats including Microsoft Word and PowerPoint. Students should upload separate files for their Research Report, Skills and Learning Statement, Appendices and List of References; these will all then be submitted along with their payment. Any queries relating to online submission should be sent to Oxford Brookes University at acca@brookes.ac.uk
OXFORD BROOKES: BSc HONOURS
CONTINUED
Professional Ethics module In order to qualify for the BSc (Hons) in Applied Accounting, all students must first complete the nine Fundamental exams as well as the online Professional Ethics module. This module is compulsory for anyone submitting a project to Oxford Brookes even though you may not have to complete it as part of your ACCA studies if you registered before 2007. The Professional Ethics module is accessed via myACCA, but you will only be given access to the module once you are eligible to sit Paper P1. The module does not need to be completed in one go, and you may therefore find yourself re-visiting the module as it takes approximately two to three hours in total to complete. Once you have fully completed it, you are required to write a completion statement, and a certificate will subsequently be sent to you. By completing this module, you will be gaining a better understanding of ethical issues in accounting, and it will also give you a chance to reflect on your own behaviours. If you are planning to submit a Research and Analysis Project to Oxford Brookes University in Period 24 (running from 125 May 2012), you must ensure you complete the Professional Ethics module by 8 April, or you will be unable to submit a project in this session.
CHANGES TO EXAM RESULTS DATES

If you are a student who has chosen to receive a paper copy of the exam results, this will be mailed to you in the week commencing 20 February 2012. Please note that you can print a copy of your exam results 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 receive their official exam results notification by email or SMS. You will not be issued with a paper copy of your exam results, but you will be able to print a copy of your exam results after they are released at any time during the year 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 official exam results notification via your preferred method by checking and updating the consent levels you agreed to. Please do this by logging into myACCA before 12pm on Friday 10 February 2012.
NEW ISLAMIC BANKING RULES

The Malaysian Accounting Standards Board has issued discussion papers considering the treatment under International Financial Reporting Standards (IFRS) of three forms of Islamic finance: sharia, takaful and sukuk. Malaysia converged its accounting standards with IFRS at the beginning of this year and the discussion papers consider the application of IFRS to the profit-sharing arrangements of the different forms of Islamic finance. Issues that arise include revenue recognition, presentation of statements, fair value measurement, impairment and the use of smoothing techniques.
AFRICAN COUNCILS PRAISED

Municipalities in South Africa have been praised for improving their financial reporting performance. Jan Hattingh, chief director for local government budget analysis at the National Treasury, said nearly all municipalities now produce their financial reports on time, whereas three years ago fewer than 50 of the countrys nearly 400 municipalities did so. This is a remarkable achievement, said Hattingh.
SHIPPING ACCOUNTING OPAQUE

Financial reporting in the shipping industry is improving, but best practice is lagging, according to a KPMG study. Investors and stakeholders are driving improvements as they demand clearer, more regular and detailed financial reports. Yet, in 2008, 44% of the worlds largest shipping companies did not produce publicly available accounts, said KPMG. It also found that less than half of shipping companies provide sustainability information. John Luke, KPMGs global head of shipping, said: Capital is in short supply therefore, ship owners should be interested in presenting themselves in the best possible light if they are after some of that capital.
NEW COMMUNICATIONS STANDARD

The US Public Company Accounting Oversight Board (PCAOB) has proposed a revised standard on communications between auditors and audit committees, replacing an earlier proposal from last year. The revised proposal is intended to strengthen communications and align with other PCAOB standards.
PRADA CHAIRS IFRS FOUNDATION

Michael Prada has been appointed as chairman of the trustees of the IFRS Foundation. He was chairman of the Autorit des Marchs Financiers (AMF) and its predecessor body, the French markets and securities regulator, for 12 years. He has also chaired the Executive and Technical Committees of The International Organization of Securities Commissions and was a founding member of the Financial Stability Forum, now the Financial Stability Board.
TOP TIPS
Land your dream job in the current climate Make sure your CV is tailored to the job and highlights your key competencies and career achievements Do your research into the company and role Remember you never get a second chance to make a first impression Consider opportunities within your current company Be flexible in terms of salary and location Dont forget to continually look to strengthen your technical or commercial skills with training Be proactive if you cannot secure paid-for work, voluntary work can keep you busy and help expand your 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
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 gradually became more and more successful at it, it took up an increasing amount of my time.
HOW DO YOU MANAGE YOUR TRAINING AND STUDIES? HOW DO YOU DEAL WITH THE PRESSURE?
The ACCA Qualification exam sittings take place each year in June and December. Generally, I am busy with World Cup races and the European Championships in June so I sit my exams out of the racing season in December. Because of the difference between the physicality of training and the mental fatigue of studying, its quite nice to find a balance between the two.
AS A SUCCESSFUL SPORTSMAN, WHAT MADE YOU DECIDE TO TAKE UP AN ACCOUNTANCY QUALIFICATION?
I had good A-level results in maths and business studies so I followed that up by studying accountancy at Kingston University, UK, which is coincidentally where the British kayak team was training at the time.
WHAT ARE YOU HOPING TO ACCOMPLISH ONCE YOU FINISH YOUR ACCA QUALIFICATION?
After this years Olympic Games in London, I am hoping to take a small break from the sport to focus on completing most of my studies and gaining more work experience. Once I have finished my ACCA Qualification Im looking forward to getting involved in a regular job.
DO YOU HAVE ANY SPARE TIME?
I generally train six days a week, so that leaves one day which I spend with my girlfriend, my dog, and strangely enough watching other sports (Im a Bath rugby fan).
HAVE YOU ALWAYS BEEN A HIGH ACHIEVER?

I have always done well at sport and academically. Unfortunately, neither comes without hard work.
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 front of 20,000 people. But in terms of preparation, you taper down so youre fresh for a race, whereas for an exam I find myself trying to cram in everything up until the last minute.
HOW HAS THE DEDICATION AND DISCIPLINE YOU HAVE PUT INTO SPORT HELPED WITH YOUR STUDIES?
Ultimately, I would have to say sport has been the biggest distraction for my studies and future career, just because after a hard days training the last thing you have the energy for is studying. But Im very happy that I have kept up with my studies.
TOP TIPS
ON APPLYING FOR A TRAINEE ROLE IN A LARGE COMPANY
We reveal what SingerLewak one of Californias leading accounting and 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 and consulting firms, looks so closely at the potential of prospective trainees to work successfully in teams and deliver client service excellence. Sally Aubury, assurance and advisory partner, describes an extensive interviewing process, designed with service and teamwork in mind. We want people to leave the interview with a strong sense of what were about, and be excited at the prospect of working here, she says. Thats not something we feel conventional over-the-desk interviews alone can typically provide. We put them through their paces, but we also introduce them to those theyd be working with directly if they end up starting with us. Education, ethics, experience But candidates have to secure that crucial interview first. Like many firms, SingerLewak scrutinises CVs (and accompanying emails) for evidence of qualities indicating trainees may be worth the considerable investment of hiring and training them. Good academics are 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 parttime jobs while at university, well look at the tenure of each position. While there may be perfectly good reasons for job-hopping, people who have been with the same employer for the duration are probably doing something right; thats an immediate plus point.
TOP TIPS
CONTINUED
Work experience neednt be in accounting. For example, jobs in coffee shops or retail stores can develop skills that transfer well into professional services, says Aubury. Listening to customers, teamworking and dealing with a diverse range of demanding personalities amount to valuable experience, especially for client-facing roles. We can help talented communicators develop their accounting skills, but many of the soft skills we need from day one are either instinctive or intrinsic and open to nurturing. If candidates have no work experience, the firm takes a big-picture view. Sports activities and university society memberships can demonstrate a readiness to work, a competitive mindset or the ability to work well in teams, says Aubury. What were looking for is the ability to interface with people. Cards on the table Karyn Gallen, who heads up SingerLewaks professional training department, says selection procedures are thorough but ultimately productive. Candidates are given written, numerical and reasoning exercises and introduced to a manager and partner, before being taken to a team lunch. It may seem daunting but everyone benefits, she says. The exercises show who takes control and who takes a back seat, or whos impulsive and whos methodical. If that unnerves some candidates, its probably a good thing, as both parties can agree theyre not well-matched before its too late. And the lunch? It provides a less formal atmosphere for candidates to ask potential colleagues or the previous years trainees about the firm. But while it might be a welcome alternative to a tense second interview, its still part of the hiring process, and not an opportunity for candidates to let their hair down. Its actually proved a useful predictor of how new hires might behave in similar situations with clients, says Karyn. And as were ultimately all about client service, thats of paramount importance, even for entry-level roles.
WHAT ASSESSORS DO WANT

The questionnaires are not tests and there are no right or wrong answers, says Nadim Choudhury, head of career services at London School of Business & Finance. Your true personality traits must be the right fit for the organisation or it wont work for anyone involved. You need to be honest and move from one 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 to outsmart them. Assessors look for consistency in responses and can easily spot candidates who give different answers to very similar questions, says Nadim Choudhury, head of career services at London School of Business & Finance. They can also spot candidates who provide the answer they think is correct because they believe it would reflect well on them, adds Andy Dallas, associate director at Robert Half International. Honesty is the best policy after all, if you are not the right fit but you pretend you are, its most likely that neither you nor the employer will be happy in the long term.
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 all the questions, says Nadim Choudhury, head of career services at London School of Business & Finance. Let your personality shine through, adds Andy Dallas, associate director at Robert Half International. And if youre not a match for this role 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 good communication skills, who are able to articulate key messages and information. They want someone who can deliver information succinctly and accurately and be relied upon to do so in front of unfamiliar audiences, says Andy Dallas, associate director at Robert Half International. Although assessors expect clear structure (introduction, exposition, conclusion and question time) and engaging content, theyll be especially concerned about your presentation style: how articulately you express yourself and how you come across, says Nadim Choudhury, head of career services at London School of Business & Finance. Also, make sure you keep to the allocated time.
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
TOP TIPS
CONTINUED
pace. People tend to speak quickly when stressed or nervous, says Dallas. If you feel yourself starting to rush, pause for a few seconds. You can use silence to emphasise points, adds Choudhury. This also allows you time to think through your next point.
KEY ADVICE Arrange a meeting to discuss the issues. Keep professional and try not to become
over-emotional. Explain that you want to improve your performance but that you feel that there is a communication problem. Tell your boss that you worked hard on your report and that you are looking forward to her constructive criticism. Dont expect everything to change overnight but view this initial discussion as a way of putting the idea in your bosss head that open dialogue is the way forward and that you are not afraid of criticism as long as its constructive and that you are committed to your job. Try to stay positive. If things dont improve, seek help from a senior line 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 will take you through the process and tell you the options available.
SHELL AT A GLANCE
Listings: London, New York and Amsterdam Turnover: $368.1bn (2010) Profits: $20.5bn (2010) Capital investment: $30.6bn (2010) Daily oil and gas production: 3.3 million barrels Shell service stations worldwide: 43,000 Refineries and chemical plants: 30+
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SOLEKS TOP STUDY TIP

Never doubt your capabilities, and if a prospect is daunting, focus on your next step only instead of the whole path.
BLACKHURSTS TOP STUDY TIP

Having a workplace mentor to share experiences and ideas with is very helpful.
KEY ACTIONS FOR THE PROFESSION
From ACCAs perspective, if the profession is to realise its full potential in this context we must take the following actions: Exploit current skills: Our technical skills and strategic understanding 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 to develop and deliver mechanisms for monitoring and review. Renew knowledge: In a constantly evolving area, we must continuously expand our knowledge base and develop new mechanisms to underpin the reporting of credible emissions and climate change mitigation information. Change accountancy education: We need to reshape our educational curriculum and skills requirements both to maintain confidence in our current ability to help mitigate climate change, and to ensure future generations of accountants have the skills and understanding required. Take a leading role in the debate: We must be proactive in the development of climate change mitigation policies, using our extensive experience of MRV to ensure credible policy frameworks and agreements are formulated.
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 dayto-day professional lives. But we may have reached the point where 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 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 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 climate change agenda especially students, as they are the future of the profession and must be ready for the challenge ahead.

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feBrUarY 2012

Student Accountant February 2012

whats your story?

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RussiA AdoPts ifRs

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student Accountant February 2012

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student Accountant February 2012

EmAil youR fEEdbAck

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maKinG the most oF accas caReeRs poRtal

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student Accountant February 2012

How to tAcklE PERsonAlity QuEstionnAiREs

How to tAcklE PREsEntAtions

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mAnAging woRkPlAcE conflict

AccA studEnt cAsE study

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blAckHuRsts toP study tiP

solEks toP study tiP

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student Accountant February 2012

climAtE cHAngE And AccountAnts

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ExAminERs APPRoAcH intERviEws

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Rules and ReGulations

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JUNE 2012 EXAMS

student accountant february 2012

EXAM ENTRY INfORMATION

OXfORD BROOKES: BSC (HONS)

KEEPING YOU INfORMED

CLOSING DATES TO REMEMBER fOR JUNE 2012

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WORKING LIFE: JOANNE COTTON

WORKING LIFE: JOANNE COTTON

TALKING TECHNOLOGY: TALK IS CHEAP ONLINE

TALKING TECHNOLOGY: TALK IS CHEAP ONLINE CONTINUED

MAKING THE MOST OF ACCAS CAREERS PORTAL

HOW TO TACKLE PERSONALITY QUESTIONNAIRES

HOW TO TACKLE PRESENTATIONS

MANAGING THE WORKPLACE CONFLICT

MANAGING THE WORKPLACE CONFLICT

MANAGING THE WORKPLACE CONFLICT

MANAGING THE WORKPLACE CONFLICT