The GAAPweb blog

Cost saving opportunities for the new Finance Director

By Paul Giuffredi

Paul Giuffredi is a Finance Director of entrepreneurial companies. He has been Finance Director of PE backed, family owned and AIM listed companies in a variety of business sectors.

When you've just landed a new position there are a number of ways to make a good impression....

One that often gets overlooked is finding cost reductions in some of the less glamorous areas of company spend. This can be a good early win, especially if you're working for an owner managed or private equity backed business where cash flows are tight. 

Price vs. people?

By Simon Smith 

Simon Smith has over 10 years finance recruitment experience within Commerce & Industry in the UK, Asia Pacific and United States and is responsible for all qualified temp, interim and contract recruitment. Simon joined Marks Sattin in March 2011 to develop and grow the temp and contract Division to build on the market leading reputation in accountancy and finance. He has extensive relationships developed across retail, media, FMCG and the oil and gas communities.

Over the past decade I have spent my time as a consultant working in three different continents in a range of industries, and during this time - whether it be in Beijing or Bradford - there is one recurring conversation that just keeps coming up; the question and negotiation of margins and fees in our industry and the debate of price with clients. 

Interview tips to help get your foot on the ladder

Top interview tips on how to get your foot on the ladder in the world of accountancy and finance

By Gemma Cozens 

Gemma Cozens is Membership Progression Manager at AAT (Association of Accounting Technicians). She is responsible for supporting members in their journey through studying  the AAT accounting qualification into the accountancy profession.

The world of accountancy and finance is now appealing to more people than ever. Why? It can be a lucrative field to work in and once skilled up; finance and accounting professionals are sought after in every industry and across both public and private sectors. 

In this competitive marketplace, you need to be more prepared than ever before to get your foot up the ladder.

There’s No Such Thing as a Candidate ...

 ... In the modern world of hiring, everyone’s a customer!  

By Paul Strong, Associate Director

Paul Strong is an associate director with Robert Half UK, the world’s first and largest specialised recruitment agency and member of the S&P 500. For six years Paul has connected highly-skilled accounting and finance professionals with leading London organisations.  

Despite what you may have heard, it’s still critical for employers to make a good impression on job candidates. Even with general unemployment levels high, competition is intense for professionals with in-demand specialised experience.

But no matter how sought-after a candidate is, companies should treat him or her courteously. In an online world, it’s a simple matter for applicants who have an unpleasant experience contacting or interviewing with your company to post negative comments about your organisation.

IFA speak - 'Big developments for the champions of small business'

By William Archer

William Archer is the Marketing & Communications Manager for the Institute of Financial Accountants and the Federation of Tax Advisors. 

2011 has seen a number of highs and lows for accountancy professionals within the UK, especially those who operate within the SME and SMP sector. For those that do, the advantage of having dedicated support and guidance from a professional accountancy body is worth its weight in gold.  

In light of this need, the Institute of Financial Accounts (IFA), as demonstrated with its recent Business Barometer survey, has dedicated its focus upon the SME and SMP sector, frequently tailoring policies and recommendations to meet the unique challenges and trading relationships associated with smaller business.

Value adding analysis

By Neil Gaskell 

Neil Gaskell is the Commercial Financial Controller for Indesit Company UK Ltd. He is a CIMA qualified accountant and is responsible for commercial finance and credit management. He specialises in financial modelling in Excel and Access.

In the current climate many companies are tightening their belts and looking where to cut unnecessary overheads. Far too often the area that is overlooked is the one profit and loss line that can do more for the bottom line than any fixed cost.

A 5% increase in sales revenue will add more to the bottom line than a 5% cut in fixed costs ever will. Before proposing a blanket price increase to your sales director, a simple analysis can be done to identify areas to reduce discounting and where profitable customer behaviour is not being encouraged.

Acing an Accountancy Interview

By Daniel Jones

Daniel Jones is the head of Alexander Lloyd’s Interim Accountancy division, which is part of the South East’s leading recruitment consultancy for the Accountancy market. With an unrivalled network of contacts and industry knowledge, they continually and successfully place the region’s top candidates in a range of companies. 

Being a job seeker is challenging in today’s highly competitive marketplace. One of the most consistent areas of concern for those seeking new roles is performing successfully at the all-important interview. It is not surprising considering the time and effort that has gone into getting this far and the pressure on you to shine is considerable.

The very first thing to do is thoroughly quiz your consultant on the interviewer and the company. How many people and who will be conducting the interview and what are their roles within the company.  How do these relate to the role that you are interviewing for?  Any good consultant will have all these details to hand and be able to fully brief you.  The other important question to ask them is what format the interview will take, will you be asked to take tests?  Many accountancy and finance roles will require you to pass numerical and verbal reasoning and possibly personality assessments.  Whilst there is little practical preparation you can do for these, you must be prepared for them so that there are no nasty surprises on your arrival.

Challenging the establishment

By Michael Mosley

At the start of 2010 it was claimed (once again) that this would be the ‘year of the boutique’. When this failed to materialise, the Bulge Bracket Banks once more held aloft the mystical figures that saw off these up-start challengers, ‘the rainmakers’.

The rainmakers have for sometime been the defining feature of the Bulge Bracket Banks with their ability to bring work to the M&A team, their ability to make or break a bank’s year and some say their ability to walk on water.

But nothing lasts forever and the Bulge Bracket Banks have stopped asking themselves a simple question. A question every firm should ask themselves about revenue generating staff - what if they left? The answer…5%.