News & Views Archives - Page 6 of 22

What was in Chancellor Rishi Sunak’s Autumn 2021 Budget statement for people and business? We take an Astute look at the key takeaways!

In the biggest single-year rates cut in over 30 years, Rishi Sunak has announced a raft of changes.

Included in measures revealed by Chancellor Rishi Sunak today was the announcement that the National Minimum Wage is to rise for the second time this year to £9.50 – an increase of 6.6%.

As reported in a piece by Accountancy Today, Sunak unveiled a 50% discount on business rates for the hospitality, retail and leisure sectors (up to £110,000), equating to a business tax cut worth £1.7bn, the biggest single-year rates cut for firms in over 30 years.

Unveiling his latest Budget in the Commons today (27 October), Sunak said it will help deliver a “stronger economy for the British people”. Nonetheless, he warned of “challenging months ahead”.

Sunak noted that while business rates will be retained, the government will introduce “key reforms”, with more frequent revaluations of rates set to be made every three years from 2023 onwards.

Following suggestions from the British Retail Consortium (BRC) and the British Property federation, Sunak also revealed that from 2023, every company will also be able to make property improvements without having to pay additional business rates for 12 months.

Amongst other measures unveiled by the chancellor, he confirmed that the national minimum wage is set to rise for the second time this year by 6.6% to £9.50 from £8.90 and will come into effect from 1 April.

For the food and drink sector, the chancellor also announced a five-step plan to overhaul alcohol duty, which he called “outdated, complex and full of historical anomalies”. As such, the government is slashing main duty rates from 15 to six – with the new duty aimed at working on the basis of the higher the alcohol level, the higher the rate of tax.

This was also accompanied by a lower rate of duty on draught beer and cider by 5% and a he also confirmed the planned increase of duty on spirits such as Scotch whiskey will be cancelled.

Meanwhile, the Universal Credit taper rate is set to be slashed by 8% from 63% to 55%, which is set to be introduced “no later” than 1 December.

It comes after Sunak noted that inflation has risen to 3.1% in September as demands for goods “increased more quickly” than the supply chain was able to handle, adding that this is set to continue with the Office for Budget Responsibility (OBR) expects inflation to average 4% over the next year.

Underlying debt was also forecast to be 85.2% of GDP this year, with this figure expected to rise to 85.4% in 2023 and peak at 85.7% in 2024. The economy was expected to grow by 6% in 2022, however, while the long-term hit of Covid was revised down from 3% to 2% of GDP.

While the OBR previously expected unemployment to peak at 12%, it now expects it to peak at 5.2%, which by its estimates, would lead to two million fewer people out of work than previously expected.

Sunak concluded:

“This government chooses to invest and build a stronger economy for the future. We’re unleashing the dynamism and creativity of British businesses with a simpler, fairer, more competitive tax system.

“By the end of this parliament I want taxes to go down, not up.”

Kindest Regards,

Mary

Mary Maguire

Managing Director
Astute | Accountancy & Finance | HR | Office Support

M: 07717 412911

Derby Office: Suite One, Ground Floor West, Cardinal Square, 10 Nottingham Road, Derby, DE1 3QT
T: 01332 346100

The University of Derby has invited Midlands businesses to sign up to
employee mental health support scheme, and we are taking part too!

Businesses across the Midlands are being offered the chance to boost productivity by working with the University of Derby to provide better mental health support for employees and here at Astute Recruitment Ltd – we are delighted to announce that we will be using this vital and important service for our team.

The Mental Health and Productivity Pilot will see the implementation of new workplace interventions at pilot organisations and the rollout of existing approaches in small, medium and large businesses across the Midlands Engine region.

The programme aims to:

contribute to the reduction of mental health distress
break down the barriers to accessing care faced by people experiencing mental illness
support their continuation in and return to work
make a positive contribution to organisational productivity, in terms of wellbeing and economic outcomes

Dr Paula Holt, Pro Vice-Chancellor Dean of the College of Health and Social Care at the University of Derby, said: “The cost to the economy of mental health across the Midlands could be in excess of £45bn this year. Yet research shows that for every £1 invested in supporting the mental health of employees, the return to the employer in productivity is £5. Those returns are greater still when employers take preventative, rather than reactive, steps to help their staff.”

Around 1,900 employers took part in the first phase of project, exploring the issues of how mental health and wellbeing are currently dealt with in the workplace and its impact on performance.

Around a third of those taking part reported sickness absence among staff due to mental health issues, and a similar proportion recorded presenteeism, particularly in the hospitality and business services sectors.

Factors negatively affecting mental health of employees include: –

Lone or remote working
Client expectations on time, quality and cost
Job insecurity
Recruitment practices

Dr Holt added: “A healthy and inclusive workplace is essential for all businesses, so providing appropriate support for employees, creating a culture of openness and tackling discrimination and stigma, will help to remove some of the barriers to growth and development for firms.

“The research we have carried out shows that employers recognise that understanding how to address mental health issues effectively can boost morale, engagement and motivation, but also reveals that they are not always sure where to obtain the help they need.”

The pilot will link employers directly to initiatives such as Every Mind Matters, This is Me and Mental Health First Aid, which all provide expert guidance. Once embedded into an organisation, the guidance aims to help reduce the prevalence of mental health difficulties and increase productivity among the workforce.

The University is now offering businesses of all sizes and from all sectors in Derbyshire, Nottinghamshire, Stoke and Staffordshire, Shrewsbury and Shropshire, and Herefordshire the opportunity to work with them integrate effective mental health provision into their organisation.

Training courses which not only help to raise awareness but could be used to support continuing professional development (CPD) are also available.

Businesses taking part will be asked to commit to an initial meeting to discuss how the programme would work for their company, creating a roadmap for its success, and promoting their commitment to the pilot in the workplace.

To find out more about the pilot, visit the MHPP website: https://www.derby.ac.uk/business-services/midlands-engine-mental-health-and-productivity-pilot/

Why Mental Health Matters

Why mental health matters now, more than ever

We all have mental health, and just like physical health, this can fluctuate throughout our lives. If we cast our minds back to life before the pandemic, 1 in 6 UK workers are affected by mental health each year (Deloitte Research, 2020). Stress, depression, and anxiety account for almost half of working days lost.

With new stressors, including health anxieties, social anxieties, returning to the workplace, bereavement, pressures of caring responsibilities and other challenges brought about by the pandemic, there has never been a more important time to prioritise mental health and wellbeing.

There is so much information out there around mental health that Astute Recruitment have worked with the University of Derby and the Mental Health and Productivity Pilot, to pull together tips and resource that you may find beneficial.

TIPS FOR MANAGING YOUR MENTAL HEALTH

Talk about your feelings – these are valid and by acknowledging them you can take control and use a variety of techniques. Talking about your feelings can help you stay in good mental health and deal with times when you feel troubled.

Keep active – Regular exercise can boost your self-esteem and can help you concentrate, sleep, and feel better. Exercise keeps the brain and your other vital organs healthy and is also a significant benefit towards improving your mental health.

Eat well – Your brain needs a mix of nutrients in order to stay healthy and function well, just like the other organs in your body. A diet that’s good for your physical health is also good for your mental health.

Drink Sensibly- We often drink alcohol to change our mood. Some people drink to deal with fear or loneliness, but the effect is only temporary. When the drink wears off, you feel worse because of the way the alcohol has affected your brain and the rest of your body. Drinking is not a good way to manage difficult feelings.

Keep in touch -There’s nothing better than catching up with someone face to face, but that’s not always possible. You can also give them a call, drop them a note, or chat to them online instead. Keep the lines of communication open: it’s good for you!

Ask for help – None of us are superhuman. We all sometimes get tired or overwhelmed by how we feel or when things don’t go to plan. If things are getting too much for you and you feel you can’t cope, ask for help. Your family or friends may be able to offer practical help or a listening ear.

Take a break!

A change of scene or a change of pace is good for your mental health.It could be a five-minute pause from cleaning your kitchen, a half-hour lunch break at work, or a weekend exploring somewhere new. A few minutes can be enough to de-stress you. Give yourself some ‘me time’.

Do something you’re good at.

What do you love doing? What activities can you lose yourself in? What did you love doing in the past? Enjoying yourself can help beat stress. Doing an activity you enjoy probably means you’re good at it, and achieving something boosts your self-esteem.

Accept who you are.

We’re all different. It’s much healthier to accept that you’re unique than to wish you were more like someone else. Feeling good about yourself boosts your confidence to learn new skills, visit new places and make new friends. Good self-esteem helps you cope when life takes a difficult turn.

Some websites / apps you might find useful : –

Every Mind Matters Get Your Mind Plan – Every Mind Matters – NHS (www.nhs.uk)

Every Mind Matters offers a range of useful resources including information on signs of common mental health issues, practical self-care tips, and where to seek further support. It has a free NHS-approved online tool which will help you build a self-care action plan to deal with stress and anxiety, boost your mood, improve your sleep and help you feel more in control. Complete the Mind Quiz to get free resources, tools, information and signposting to help manage your mental health

Zen Buddy App

The Zen Buddy App offers support to individuals struggling with mild to moderate depression, anxiety, stress, as well as preventing mental health problems and post-treatment condition management. Whether it’s struggling to concentrate on work tasks due to the intrusive sadness/depression from having had a close bereavement; managing excessive demands/anxiety/stress, juggling work and home life, owing to the individual’s lack of assertiveness skills; or feeling under-valued and not having the respect of colleagues due to lacking emotional intelligence, Zen Buddy brings skills and techniques to your fingertips, and is ready to spring into action and help your workforce achieve positive mental health.

Anyone interested in signing up for the app, please email: [email protected]

Mental Health Charity MIND Home | Mind, the mental health charity – help for mental health problems

The MIND website has a wealth of information around managing your own mental health, supporting others, guides and resources, and accessing support services local to you.

Interested in supporting the mental health and wellbeing of your workforce?

The Mental Health and Productivity Pilot (www.mhpp.me) is funded by the Midlands Engine, offering businesses of any size and sector free support and guidance around enhancing the mental health and wellbeing of their workforce.

The programme aims to:

contribute to the reduction of mental health distress
break down the barriers to accessing care faced by people experiencing mental illness
support their continuation in, and return to, work
make a positive contribution to organisational productivity, in terms of wellbeing and economic outcomes

The University of Derby are supporting businesses across the D2N2, Stoke and Staffs, and the Marches by rolling out by working closely with key individuals within the business to ensure they have the confidence to open-up conversations around mental health, the training and resources to enable them to effectively signpost staff and strategies to enhance the culture within their organisation, ensuring it is a supportive environment for staff to open up about mental health.

If you are interested in hearing more, please complete the enquiry form on our landing page: –

https://www.derby.ac.uk/business-services/midlands-engine-mental-health-and-productivity-pilot/

And always remember, its OK to talk about mental health at work.

Someone is there to listen to you.

Recruitment is a funny old game.

No two days are ever the same!

From arranging interviews, and sourcing jobs,

To building confidence, coaxing pre-interview nerves to stop!

Earlier today, a young chap called back

Relaying his interview feedback

He’s really keen and thanked me for the interview prep

He really wants our job and hopes he gets to the next step!

Then a qualified temp role to recruit, we needed CVs!

Onto the phones to drum up great interviewees 😊

A few calls later, we have a stellar candidate

Our client loved the profile, ‘Can they start on Monday around 8?

Then its onto reference checks,

Its important to ensure our candidate’s skills meet our client’s specs

Now to cover for a dear colleague whose very ill,

Ensuring continuity for their clients with their jobs we’re trying to fill.

Everyone is lovely and wishes our colleague all the best

So they can return soon, after having lots of rest (heart emoji)

Now its near home time for us in the office, the rest are WFH

Some are on annual leave, having a well deserved break from the phone!

Whether you’re a trainee recruiter, or a managing consultant

Recruitment is a helter-skelter, helping those needing a new move to those made redundant.

The ability to help guide those starting their finance careers

As well as to help FD’s and CFOs recruit amongst their peers

So if you’re looking for a brilliant new accountancy recruiter

Call our amazing, happy team – we really are ‘astuter’ 😊

With flexible working, and happy team vibe,

Your career in our family will really develop and thrive!

We are a multi-award winning and rapidly growing accountancy recruitment consultancy. We are recruiting for several opportunities, from Trainee Consultants to experienced Senior Consultants and Managers.

If you are looking for a genuinely original, caring, and fun team, who value integrity and honesty above all else, pop an email to Mary Maguire or Sarah Stevenson.

They will be delighted to arrange a confidential time to talk to you about what we can offer.

Remember: –

If you need to recruit

Call our team at Astute!

Sustainability, and the environment are really important to all of us at Astute Recruitment Ltd. We already have a sustainable environmental policy.

We already encourage a number of environmentally positive initiatives, but will be announcing a new one that our clients, candidates and team can all take part in soon!

With Glasgow’s current global climate conference, ‘COP 26’, underway, here’s a simple wish from all of us in the meantime: –

Now is our final warning
To avoid 6 degrees of warming
For those in power
Now is our critical hour

Not COP 27 OR 28,
Or it will simply be too late.

Right now we have to act –
Nations must agree, form a proper pact.
Not just empty words, but actions.
Clear plans, timelines ‐ no more distractions!

20 years ago, glaciers in the Himalayas,
Stood proud, 100’s of feet higher.
Coral in the Great Barrier Reef,
Weren’t bleached beyond belief.

From Attenborough to the Pope,
Their call to action really is humanity’s final hope

For our children and all of us living now,
How can we possibly allow,
The destruction of our beautiful blue pearl?
Allow uncontrolled distress to unfurl!

From heatwave to fire,
1000 year flooding and tides getting higher,

Let’s agree to make this November
A real turning point our ancestors will remember
For scientists and folk all-over the globe
This really is our final hope.

But, let’s not succumb to morbid doom,
Instead lets strive for ingenuity to bloom!
From Tim Berners-Lee to Archimedes –

We can be a brilliant species!

Lets innovate and work together,

To make our planet healthy again, and make all our lives better!

You can watch the inspirational David Attenborough giving his electrifying speech at Cop 26 by clicking on the video link below. His powerful words and message of hope are possibly the most important words uttered. https://www.youtube.com/watch?v=wzF1LLbSepk

We can all make a difference to help our environment.

We will be announcing some great ways our clients, candidates and friends of

Astute Recruitment Ltd can all help the planet.

Whether at work, in the home or socially, we can all

do our bit to help.

As a leading provider of accountancy staff, we look at what does accountancy mean, it’s history and importance to businesses today. Plus we explore the huge variety of careers available in the accountancy profession, and why accountancy really is a great career choice! We’ve included some great, useful links at the end too!

First, ‘WHAT IS ACCOUNTANCY?’

Historically, ‘Financial Accounting’ referenced how information was communicated on the financial position and performance of a business to its owner(s). An instant snapshot of how a business is really performing.

Financial statements, i.e. balance sheets and the income statement of a business revealed the real financial health of a company.

The word ‘accounting’, however, referred to one of the three principles of accountancy namely the process of reading, understanding, and maintaining the financial records of a business.

The other two? – Bookkeeping and auditing.

Accountancy and accounting are now synonymous, both referring to the methods of identifying, measuring, processing, classifying, recording, and reporting the financial status of an individual, company, business or organisation.

This information is mainly reported in the form of five key financial statements, prepared in accordance with relevant accounting standards, (IFRS, FRS, and various national GAAPs – including US GAAP – i.e. ‘generally accepted accounting principals’) to provide useful information to the users of these financial statements.

The two most important and most used accounting standards are IFRS and US GAAP.

USEFUL LINK: https://www.cfainstitute.org/en/advocacy/issues/gaap

Accounting is one of the key functions of every business. Every company, charity, and organisation around the world will have the use of an accounting department, internally or externally, to look after it’s transactions, i.e. sales ledger and purchase ledger.

The size of the accounting department of a business depends on the scale and type of business. In larger companies, the accounting department usually has many more staff compared to SMEs.

Smaller SME companies and businesses typically have one or two bookkeepers/ accounts all-rounders, who can manage the day to day transactions, and either have an external accountant to refer to, monthly or yearly, or employ a company accountant/ financial controller or finance director/ Chief Operating Officer (CFO).

Similarly, businesses with a larger number of transactions per day will need more employees in their accounting department than ones with a smaller number of transactions.

Where did Accountancy come from?

Accountancy is one of the oldest professions, with a very rich past woven through history.

The modern guidelines we use today were formed from accounting principles started thousands of years ago in ancient region of Asia, called Mesopotamia.

When the idea of counting, tallying money and writing were conceived, that’s when the concept of accountancy is thought to have been born.

The Romans brought order and more formal processes in accounting. Logging and filing transactions.

Double-entry bookkeeping as we know it today, was credited as being first created in 1494 by Luca Pacioli, an Italian mathematician.

Pacioli is commonly credited as the first person to describe the concept of debits and credits in journals and ledgers.

His work in the field of accounting earned him the title of “Father of accounting” and he laid the foundation of modern accounting systems and processes.

The industrial revolution in the mid to late 18th century, created the need for a more advanced system of accounting.

The old, ancient accounting systems, while intrinsically sound, did not provide a solution for the then emerging modern structures of corporations.

For example, corporations had complex structures of ownership that did not exist in ancient times. Investments in those businesses were hard to make due to the lack of credible, detailed information available to investors.

To tackle this problem and attract more investors, corporations adopted a system of reporting their financial activities by publishing financial statements.

At the beginning, these financial statements were limited to the balance sheet, income statement, and cash flow statement. The rise of the system of financial statements also gave rise to agency problems.

Agency problems arose because the shareholders of a corporation did not believe the management. This led to the development of a mainstream auditing system.

While the concept of auditing was already developed in ancient Egypt, it became a mainstream practice during these times.

So, what is an Accountant? What is their job?

An accountant is a professional practitioner of accountancy. Accountants are trained, competent professionals who have worked through different professional certification exams, or through their careers, have become ‘Qualified By Experience’.

Accountants are members or associates of professional accounting bodies such as the Association of Chartered Certified Accountants (ACCA), Institute of Chartered Accountants in England and Wales (ICAEW), Association Accounting Technicians (AAT).

Useful links to all of the professional accountancy bodies are at the foot of this blog if you would like to find out more about their courses, the training and examinations these really good organisations can offer to aspiring accountants.

In ancient times, accountants were viewed as solicitors that offered accounting services to their clients. However, in the mid-19th century, the Institute of Accountants in Glasgow petitioned Queen Victoria no less, for a royal charter.

This permitted them to legally define themselves as ‘accountants’ in their own right, rather than as ‘solicitors’. Even before the petition, accountancy as a profession was already recognised in Scotland. The petition to Queen Victoria meant that accountants could for the first time, be seen as professionals in accountancy rather than mere solicitors in the rest of the world as well.

This petition also laid the foundation for many professional accounting bodies such as the London Association of Accountants, later renamed to Association of Chartered Certified Accounts (ACCA) in the United Kingdom and the Certified Public Accountants (CPA) in the United States.

Aided by the industrial revolution, this created a demand for technically sound professionals who were capable of handling modern accountancy problems.

Branches of Accountancy – Our Astute ‘Accountancy Tree’ gives some clues!

Most people think of accountancy as simple bookkeeping and debits and credits. While these are a part of accountancy as a profession, there are several branches you can follow, each leading to varied, exciting and commercial accounting and finance jobs that are very different from each other.

**Choosing Accountancy as a profession really can offer contrasting, fulfilling, and varied career choices.**

We’ve broken down the key ones for you below: –

1) Financial Accounting

Financial accounting is the most popular and widely implemented branch of accountancy. Financial accounting branch is related to the reporting of the financial status of a business, through the financial statements, and any process that helps with the preparation of these financial statements.

For example, any process involved from entering source documents into the accounting systems of the business up to the preparation of the key financial statements falls under the financial accounting branch.

Careers can develop from training within a firm of accountants – local, regional firms including Dains, to the so called ‘Big 4’ – PWC, EY, Deloittes, and KPMG.

Or, you can choose commerce and industry (C&I), and secure Graduate Trainee Accountancy positions or Trainee Transactional jobs, such as Accounts Payable (AP), Accounts Receivable (AR) – also commonly referred to as Credit Control, and Accounts Assistant positions.

2) Management Accounting

While financial accounting has to do with the preparation of the information that is reported externally, management accounting is related to the preparation of information for internal use.

Daily or monthly operating reports, budgets, variance analysis, etc. all fall under management accounting.

The information produced through management accounting is used by the management of the business to make decisions for the future of the business. These can be used for short-term or long-term strategy making.

3) Cost Accounting

Cost accounting is similar to management accounting and often considered a type of management accounting.

Cost accounting is the area of accountancy that is commonly used in the manufacturing industry. Costings are used to derive the cost of a product for decision-making purposes.

This cost can be calculated using different costing techniques such as absorption costing, marginal cost, activity-based costing, target costing, etc. Once costs are determined, cost accounting is also concerned with monitoring those costs. Some companies typically have a dedicated Cost Accountant while others employ a Management Accountant whose job description will also embrace Costings.

4) Auditing

While auditing does not involve preparing any accounting information, it is related to reviewing the information produced through other branches of accounting.

Auditing can either be internal or external. Internal auditing is performed by the management of the business to review accounting information produced for internal use.

External accounting is related to reviewing the information produced for external use, which mainly includes reviewing the financial statements of a business.

Auditing can also be used to determine level of internal control of an organization.

Just as with Financial Accounting, careers can develop from training within a firm of accountants – local, regional firms including Dains, to the so called ‘Big 4’ – PWC, EY, Deloittes & KPMG.

Each will have their own trainee schemes and will look to recruit staff directly through LinkedIn or use the services of an accountancy recruitment agency or recruitment consultancy.

5) Forensic Accounting

Forensic accounting is closely related to auditing. Forensic accounting is related to the use of accountancy techniques, skills, and knowledge in circumstances that might have legal implications.

Forensic accounting is the process of carrying out forensic investigations to present in a legal proceeding. Forensic accounting is mainly used for fraud investigations within the business, professional negligence cases, or insurance claims.

6) Accounting Information System – or System Accountants

Accounting Information System (AIS) is related to the collection, development, deployment, implementation and monitoring of the accounting procedures and systems that are used in the accounting process.

With the computerisation of the accounting process, AIS has become a computerized methodology for conducting accounting processes with information technology resources.

7) Tax Accounting

Tax accounting is the branch of accountancy that deals with the application of tax planning to benefit the business and preparation of tax returns.

It also involves calculating the income tax and other taxes of the business. Tax accounting is used to legally decrease the taxes of the business. Tax accounting should not be used for tax evasion.

The rules of tax accounting are defined and dictated by the local tax body of the country the tax is being paid in.

8) Fiduciary Accounting

Fiduciary accounting is the branch of accountancy that is related to the management of funds in trusts. This branch is mainly concerned with the trustee communicating any financial information about the trust to the beneficiaries.

Fiduciary accounting is regulated by the law and court and, therefore, the information produced through this branch must be accurate and precise.

9) Nonprofit Accounting

Nonprofit accounting mainly applies to charities and nonprofit organisations. In this branch of accountancy, incomes and expenses are recorded according to the nonprofit accounting standards. (SORPS)

This is the alternative of financial accounting for nonprofit organizations. In this branch of accounting, expenses are recorded in the statement of functional expenses.

Furthermore, both the income and expenses are recorded in the statement of activities.

10) Social Accounting

Social accounting is the branch of accountancy that is related to reporting the effect of the business’ activities on the society and environment.

For companies, social accounting is used in the context of Corporate Social Responsibility (CSR) and companies may be required by law to do so.

However, other types of organisations such as not-for-profits, charities or government departments, may also choose to adapt social accounting voluntarily.

So, in summary, ‘Accountancy’ or ‘accounting’ is the process of identifying, measuring, processing, classifying, recording, and reporting the financial information of a business.

Accountancy has many branches such as financial accounting, management accounts, financial analysis, cost accounting, auditing, tax accounting, and many, many more.

Modern popular careers in accountancy and finance that are increasingly key in today’s collaborative business world, are Finance Business Partners – blending the worlds of management accounting, financial analysis and stakeholder engagement.

If you are looking for a career in accountancy, or are wanting to develop your CPD / training – here are some useful links: –

USEFUL LINKS: –

CIMA – https://www.cimaglobal.com/

ACCA – https://www.accaglobal.com/uk/en.html

ICAEW (ACA) – https://www.icaew.com/

AAT – https://www.aat.org.uk/

FRC (Financial Reporting Council) – https://www.frc.org.uk/accountants/accounting-and-reporting-policy/uk-accounting-standards/statements-of-recommended-practice-(sorps)

If you are looking for training providers for the professional accountancy examinations you can contact these two great organisations: –

KAPLAN – https://kaplan.co.uk/

BPP – https://www.bpp.com/

You can view our latest permanent and temporary vacancies on the following link;

https://www.astuterecruitment.com/all-jobs/

If you would like any further help, guidance or support, please contact our MD, Mary Maguire by email to; [email protected]

Or of course you can contact our team on 01332 346 100 – we are always happy to help.

Mary Maguire

Managing Director
Astute | Accountancy & Finance | HR | Office Support

Suite One, Ground Floor West, Cardinal Square, 10 Nottingham Road, Derby, DE1 3QT

T: 01332 346100
M: 07717 412911

E: [email protected]

W: www.astuterecruitment.com

LI: https://uk.linkedin.com/pub/mary-maguire/18/73/553

LI: www.linkedin.com/company/astute-recruitment/

“A smooth sea never made a skilled sailor.”

A great quote by FD Roosevelt. We feel that the same applies to accountants.

It’s through the turbulent times though that we learn, in life and at work. When things don’t go quite as planned, we have an opportunity to learn, to become a better sailor – or, in the case of our clients, become a better business, and our candidates – to become better accountants.

Enjoy the smooth sailing when the seas are calm. But when the surf swells and storms brew, remember: that experience brings the ability to cope with headwinds.

The same is true of accountants and all finance professionals. From credit controllers who can free up much needed cashflow by reducing outstanding debtors to a strong Finance Director or Financial Controller who can win that key tender or negotiate better rates with that new tender. Hard experiences teach finance professionals how to cope in difficult situations.

Our Astute seafaring ode to accountants everywhere: –

What is a business, without an accountant at the tiller?

Assessing performance, the greatest biller?

Forecasting growth, future success,

How to improve profits, stakeholders to impress!

Through recession, through growth, the bad and the good,

None can enlighten like a great accountant could.

Through the choppy waters of business life,

A strong accountant can solve financial woes and strife.

A seasoned finance professional,

Can bring a steady hand and deliver the exceptional.

Financial accountants; “How much are we owed?”

Payrollers processing pay for those furloughed.

Credit controllers to keep debtors down,

Managing relationships with a smile not a frown.

Part Qualified and Finalists, improving analysis,

Working hard to avoid performance paralysis.

Accountants in the office or WFH,

Rest assured, their value alone,

Will see your business thrive and grow.

So #BeAstute, use the finance recruitment firm ‘in the know!’

Contact our team ‘in the know’ for your career development or to source an experienced accountant in your finance team: –

A change in your career is always a critical decision to make. Especially within the world of recruitment. If you are a successful consultant, why would you want to move from your existing employer and team?

It could be that due to a change in circumstance you are looking for more of a work/ life balance, and an employer who knows that if you need to leave early you will make up the time on another occasion.

It may be that post-pandemic and lockdowns, your leadership team are placing unrealistic targets and pressures on you to harass your clients and candidates to ‘force’ a win, rather than allowing the natural flow of a recruitment process preferred by hiring managers and job applicants.

Perhaps you are feeling dissatisfied with the culture and team where you are working. The ‘fun’, ‘banter’ and ‘excitement’ of working in a passionate team seems to have gone missing?

Astute Recruitment Ltd was set up by two friends, and former colleagues, Sarah Stevenson and Mary Maguire, who happened to share a passionate belief that candidates and clients should be treated equally and fairly, but so should the recruitment consultants and teams representing those candidates and clients.

They wanted to demonstrate to a wider audience that there are professional recruitment specialists in the world of accountancy recruitment who value people and integrity more than just a ‘quick fee’. Their passion for recruitment saw Astute Recruitment Ltd progress from a small, unknown agency to become one of the top ‘go to’ financial recruitment specialists in the East Midlands. Unrivalled with over 15 business awards, and currently finalists in the East Midlands Chamber ‘Enterprising Women’s Awards’ Team of the Year category – they could have another award win under their belts in October!

Established nearly 12 years ago, Astute has enabled numerous consultants to train from entry level roles in the business and to go onto secure several promotions. None more so than Sarah-Louise Wykes. Sarah-Louise started at Astute following a successful career in accountancy and began her career at Astute as a Trainee Recruitment Consultant. In 4 short years she was promoted 3 times to become Associate Director. Earlier in 2021, Sarah and Mary were delighted to reward all Sarah-Louise’s hard work officially making Sarah-Louise a Director!

Your future career options at Astute are neatly displayed below in an infographic.

The pandemic has taught many of us that in life you cannot take anything for granted. It has changed the working lives and work/life balance between the office and home, perhaps forever. Never has there been a more exciting time for a recruitment company to really harness true partnerships within the business communities through trust and integrity. Those are the values that set Astute above and beyond more national, impersonal agencies. They take the time to provide the ‘human touch’.

Through established recruitment relationships spanning two decades – Astute Recruitment’s owners have been able to maintain these friendships and increase their market share considerably in the last 2 years.

Now, as businesses have learned to navigate remote and agile working practices, Astute are in a position to grow their teams further and expand at what is a really exciting moment for the company.

Sarah had this to say, “Mary and I are really excited to resume our plans for growth after having to put our strategy on hold during 2020. We are looking for like-minded recruitment professionals or for trainees who are keen to get involved, learn and develop in the recruitment sector. Maybe like Sarah-Louise they can also aspire to promotions and future growth too!”

So if you value working as part of a collaborative, winning team who want to have fun but also work hard – why not contact Sarah Stevenson or Mary Maguire and they will be delighted to have confidential meeting or conversation with you.

57,600. A special number. Why?

Not my salary 🤣

Not how many fans will be at the next game at Wembley ⚽🤞

Nope.

Give or take, 57,600 is the number of hours I’ve spent at work in my career spanning 30 years.

That’s more than I’ve roughly spent with my family, friends and partners in all that time.

(happily married last 17 years👫).

I bet I’m not alone.

You can calculate your own career clock with some simple sums for fun.

But my serious point is, how much of my career clock is left? How much longer do I have to achieve my professional goals?

That’s not such a large number for me. (I love my job, but I don’t plan on working at 70 🧓). I am mindful that I only have a finite time left to achieve remaining professional goals.

If you do your sums, you can calculate how much of your very own career clock you have left.

The answer may surprise, appall or enthrall.

The difference between your ‘time served’ and ideal working career left tells you, in a nutshell, how long you have left to achieve your ambitions.

A time line.

Most people don’t think about this, wrapped up in layers of today’s problems. But if you are thinking of changing job/ applying for that promotion/ studying for your CIMA/ACCA/ACA/ AAT or other professional exam, you absolutely should know what the time is on your personal career clock.

Everything you work for, the job you do now to the people you work for, the exams and qualifications you select to acquire, should be helping you to achieve your ultimate career goal.

Knowing your ‘why am I doing this’ will make sure you are doing the right job for the right reasons, at the right time for you.

It could be to secure a job with better work /life balance now, while the kids are small but with a business that can give you promotions and growth in the future?

It could be you are an aspiring FD and need a role offering more man management / controls / commercial or other experience to fill that skill gap on your cv.

“Better three hours too soon than a minute too late.” – William Shakespeare.

As the Bard says, ’tis better to spend time waiting for the opportunity to take an action than miss the chance. But you need to recognise what those chances are, at the right time for you, seize them, and make those decisions to keep your life and career on track and on time.

The quote references Shakespeare’s “The Merry Wives of Windsor”, a character who suspects his wife’s infidelity, but it could be applied to any situation when you need to take a chance to change things and not miss the opportunity.

So, what’s the time left on your career clock?

It might just be the most important question for you and your professional aspirations!

If you would like confidential career advice you can contact Mary Maguire or our call our experienced team at Astute Recruitment Ltd on 01332 346 100.

An article by Mary Maguire, Managing Director
Astute | Accountancy & Finance | HR | Office Support

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Recruiting the right team will get the right results.

Every time.

On a warm June evening, Gareth Southgate led his England team out onto the Wembley turf. To the thousands of England and German fans there in the balmy air plus the millions watching on their TV screens, it promised to be an exciting evening and did not disappoint.

But lets turn the clock back a couple of days, even a few short hours before the game. Football experts, home-spun armchair critics and fans were giving their opinions.

Play X on the left, leave y on the bench. The formation has to be 3 4 3 or 4 4 2 or other.

Gareth gave a brilliant lesson to all in management.

He was on the ground, and he knew his players inside out.

He had trained with them.

Laughed with them. Cried with them on many a day and game before that summer evening facing their German opponents.

He knew what each player was capable of and when to deploy their strengths.

A certain fresh pair of legs in the second half gave just the right blend of creative endeavor, skillful artistry, and sheer energy at just the right moment to make the maximum impact. 2 goals in just a few mesmerising minutes.

That is the lesson for managers in business. To recruit and use the right talent at the right time. To listen to your own instincts and be guided by the facts in front of you. To play to your team’s strengths. Not to allow frustration to sap away energy when things seem to drag. Not to sacrifice the quality and professionalism of the team for a quick easy foul.

Instead, stick to your game plan, ensure that each member of your team knows their role inside out, what to do and when.

Most important of all, as a manager you are the creator of your team’s destiny. To get that togetherness and will to win, not just for each player but for them to want to win for each other.

That’s the true goal of every manager and the way for teams, whether in business or on the pitch, to win.

Do you have ‘FORTO’ – fear of returning to the office?

Apparently, many of us do.

A survey of 2000 UK office workers commissioned by the Institute of Workplace and Facilities Management (IWFM) in March this year revealed 31% felt their employer was pressuring them to return leading to feelings of anxiety and stress.

IWFM’s ‘Returning to work’ research provides key insights into the thoughts, experiences, attitudes and concerns of the UK’s office workers as employers seek to establish new ways of working and wider adoption of hybrid working post-COVID-19.

Key takeaways from IWFM’s

‘Returning to the workplace’ research: –

The majority of UK employees expect a move to hybrid working
The vast majority of employees will expect a level of ‘hybrid’ working in the future – with nearly half (44%) of the workforce planning to work from the office for 3 days or fewer a week.
63% of employees now believe the office to be unnecessary – a rise of a fifth since the first lockdown (51%).
The demand for hybrid working is particularly strong for younger staff, with two-thirds (66%) of 18-24-year-olds admitting that not being offered flexible work patterns would cause them to look for a new job.
More than a third (38%) of this demographic felt their employer is pressuring them to return to the office – risking losing new talent.

As Chris Moriarty, Director of Insight at the Institute of Workplace and Facilities Management comments: ‘More than a year on, we continue to see employers striving to strike the right balance between remote and office working. The benefits of the office have not been forgotten, yet we continue to become accustomed and comfortable with our home working routines.

‘The truth is home versus office working should not be viewed as a binary choice between focus and connection. A true commitment to ‘hybrid working’ will give employees and employers flexibility to work in a way that is best suited to them – allowing them to reap the productivity and social benefits of both home and office working environments, how and when it best suits their needs. Employers should now make every effort to provide staff with genuine choice to perform their role wherever they feel their performance would be best supported – adapting the office space, incentives and policies to reflect the changing nature of the workspace environment.’

Over three-quarters (79%) of 18-24-year-olds believe that they will be equally as productive or more productive working from home.

This demographic is also working the most unpaid overtime from home – on average 11.6 extra hours a week – and has invested on average nearly £300 in creating a suitable working environment at home.

From speaking to all levels of accountancy and finance professionals our team has experienced most finance workers say that COVID has illustrated that most of their role can be effectively performed working from home. Finance Directors, CFOs, and Heads of Finance have said time and again that thanks to the implementation of additional technology and ‘smart working’ practices, their view is hybrid working – a blend of wfh and in the office – is here to stay.

Our view is that employers need to be flexible according to the sector of work employees are engaged in. Certain sectors – Sales, Creative/ Media, and others – need the face to face collaboration to bounce ideas off each other. Other sectors are able to be totally independent of the office environment, but for training and mental health reasons, a flexible approach is key.

Not so much cause for fear of returning to the office, more an opportunity for increased staff engagement and for managers to implement a great blend of flexibility that addresses individual’s needs and allow for continued business success.

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Mike

16:04 13 Mar 23

Highly recommended! Josh and Sarah have been fantastic at Astute. They've found and placed me in 2 jobs now between them, both really responsive and excellent at keeping you up to speed with things. Very knowledgable about the roles and happy to talk to companies with any queries you have.

C R.

10:45 27 Jan 23

Great agency one of the best ones I've worked with! Liz has been a great help and support in helping me towards a new direction in my career life. She is very attentive and keeps me in the loop at all times! She makes the extra effort to work with my preferred requirements for work and even if it isn't completely attainable she meets me in the middle and does as much as she can to help! Also Liz is very funny might I add 😂 and I'm happy that I can now put a face to the name after all these years! Thank you again Liz for all your help and support! 😊

Christine

10:32 20 Dec 22

Josh and the Astute team was very swift to help me to find roles that matched my profile. They are really reliable and will help through every step of the recruitment process going out of their way to assist and follow up when needed. Could not find a better recruitment agency!

Helen Pinegar

16:19 18 Dec 22

Fantastic recruitment agency.. Josh was extremely enthusiastic, encouraging and clearly knowledgeable about what was needed from both the employee and the employers point of view. Extremely supportive especially in regards to interview preparation and endeavoured to procure feedback promptly. Wouldn’t hesitate to recommend Astute in the future to both candidates and recruiting businesses particularly for the right fit for the role!!!

Lisa Leigh

11:56 30 Nov 22

I have worked as a candidate for Astute and they have been excellent. Super friendly service and professional agents keen to fit the right person to the right job. It has been a pleasure dealing with them and I would happily work for them again in the future. Highly recommend this agency.

The University of Derby has invited Midlands businesses to sign up to employee mental health support scheme, and we are taking part too!