Careers

No accounting for age

Does age really matter these days? We don't think so. Gwen Cheeseman spoke to the oldest and youngest CIMA PQs from the Midlands to qualify last summer

Meet Kimberly DeBarros, who qualified in 2005 at the tender age of 21
So Kim, why did you choose to go straight into studying accountancy and not go to university?
I knew before I'd completed my GCSEs that I wanted to do accountancy – I wanted to earn the big bucks!
That can't have been the only reason can it?
No – I'm joking really! I suppose the serious answer is that I looked into my options and decided that after my GCSEs I was going to study AAT. I said to myself if I don't enjoy it, then I'll start all over again. But I did enjoy it and there was no going back.
You sound like you're sure you made the right decision then, so no regrets about your choice?
No regrets at all. It's the best thing I've done to date.
You're a bit of a spring chicken though, aren't you? Did you find you were young compared to the others you were studying with?
I suppose I was, because generally the people I studied with had just finished their uni degrees.
So when it came to employment did you face any problems with employers, being that you're so young?
Age hasn't been an issue yet – but hey, who knows?
Well, it shouldn't be a problem, so let's hope you don't face any issue in the future. So why did you choose CIMA?
CIMA is a qualification that many employers look for. CIMA is focused on a wide range of areas, not just financial issues. I feel that CIMA helps students to gain good business awareness.
You are obviously happy with your choice there too, CIMA seems to have been right for you. Would you advise others considering studying accountancy, particularly those who are considering it as an alternative to university to follow in your footsteps?
If you know what you want, and it's accountancy, then you should go for it. However, going to uni gives you experiences that you probably wouldn't get going to a college – so I'm told!
Sounds intriguing... And what about work – tell us a bit about your current role.
I'm a financial accountant. I am responsible for all aspects of financial accounting.
Well that's straightforward then! So what's next? Where do you see yourself in five years' time?
I'm highly ambitious and in the next few years would like to be a financial controller. From there who knows, FD maybe? But that's a good few years away.
There's no harm in looking to the future, and a good dose of ambition is always useful. But to look back for a second – did you enjoy studying? Did you think it would be difficult or did you know what you were getting into?
I did enjoy studying, as mad as it sounds. It was tough, but the end result is definitely worth it. The exams were tougher than I expected, but as long as you practice past papers and go to a good college, you can't go wrong.
Sensible advice there – proving you can be wise beyond your years.

Geoff Aris is living proof that if you're good enough, you are young enough. He was the oldest CIMA to qualify in 2005, aged 56
Geoff, you're 56, and you decided quite late in your career to go for a bit of a radical change. Not only did you decide to change your work direction, but you also chose to return to studying in order to become an accountant. Quite a decision – so how did that come about?
I trained and qualified as a precision engineer designing tooling for the automotive industry in the Midlands. I was ambitious but at the time the industry was shrinking and there were few opportunities for personal advancement. It became clear that I needed to consider an alternative career if I was to realise my ambitions. After some careful consideration I settled on a career in finance, a discipline that offered far greater career opportunities across many industries.
That makes sense, and it's great that you followed your ambitions. But it can't have been easy - any regrets?
None at all. The first step came with a move into financial analysis with an aero engine manufacturer and later in car production. I was still unhappy with a career based in a company experiencing difficult trading conditions, but was then offered a position in the relatively young factoring and invoice discounting industry. Here my career wasn't dependent on the fortunes of a single sector and I soon learned that it was in a period of sustained and rapid growth. I have ventured outside the industry into management consulting for five years but was pleased to return. The change was good for my personal development.
If we may be so bold, you're clearly not the same age as most of your study contemporaries - so how was it being a mature student?
Well there are advantages and disadvantages. On the plus side, my wild student days are behind me, my kids have grown up and I am settled in my final career choice. So maturity means that I have a stable background from which to study. By contrast being that bit further on in my career at a senior level, it is no longer a nine-to-five role and study had to compete with other demands on my time. Advancing years and greater experience makes one more questioning of the material presented for study, so that greater understanding follows. The challenge now is retention and much more effort is required to memorise and recall material for the exams. Interestingly, age was never an issue in the study groups, either from peers or lecturers.
Glad to hear it! And it sounds like your memory certainly hasn't failed you. So no ageism issues from any employers, prospective or otherwise?
I can't say that I have found age to be a career issue. It is possible that age has played a part in CV filtering so I may not have reached interview, but in the past 10 years this has not been evident in my career moves. I am a credit management specialist and what seems to count for me at interview are the experience, skills, attributes and ideas I can bring to the new post.
And when it came to studying, you must have deliberated about which qualification to pursue. What made CIMA stand out for you?
Before starting my CIMA studies my work in this industry had brought me into contact with various financial specialists; accountants, auditors, financial advisors insolvency practitioners, corporate recovery experts in addition to banks, asset financiers, business managers and owners. Drawing on this experience and after researching the various accountancy institutes I believed that my role would be best supported by the CIMA qualification. It's down to my particular experience, but it seemed to me that CIMA accountants work with businesses from the inside on a continuously supportive basis rather than through an ad hoc consultancy or project approach. In my work I maintain regular and close contact with a portfolio of clients over an extended period measured in years. My role demands an understanding of how well my clients, their systems and finances, are performing. The CIMA qualification offers the best fit syllabus for this role, it is widely recognised and respected.
A good choice for you then. And what advice would you give to others considering a move to accountancy, particularly late on in their working life?
The prospect of four years' study (without the benefit of financial support and study time release, for those late in their careers) may seem daunting. And one shouldn't underestimate the challenges involved. However, there is flexibility built into the study programme and, like me, mature students can extend the period of study to suit their personal circumstances. It is important to keep an eye on the syllabus as the longer one takes to study the more it is likely to change. I have attended college for study and studied independently to prepare for the exams. In the final year I would recommend college attendance simply to ensure that knowledge accumulated over the preceding study years is relevant and up to date, and to pick up exam techniques, so important in the finals.
And what about where you are now - what's your current role about?
In factoring we provide our client's working capital and manage their sales ledgers. For the security of our investment we must have a very clear idea of how our client's business is performing and how effective their control systems are. As head of structured finance for IGF (Independent Growth Finance) I am responsible for managing the relationship with a portfolio of clients either of very high value or, because of the nature of their business or the industry they operate in, require a more flexible and adaptive approach.
And what about the future, your next move? Where do you see yourself in five years' time?
This is a fiercely competitive, but progressive industry quick to exploit new business opportunities. Driven by competition and the need to stay ahead we are always looking for new financial products to offer alongside sales ledger funding and management. In five years time I expect to have progressed with my company and the industry to take on new responsibilities and challenges hopefully with promotion along the way.
Looking back on 'going back to school' – how was your study experience – easier or harder than you expected?
CIMA is not an easy qualification. The examinations are rigorous but reward those who have worked and prepared. There were times when success seemed a long way off, particularly when studies had to be suspended due to career demands. But CIMA offers flexible learning and it is possible to take a year out then continue. A lot of self discipline is required to keep going especially if studying alone. College helps by providing a distraction free routine and structured disciplines to cover the syllabus. Working with other students also helps by sharing anxieties about tricky subject matter. On balance I have enjoyed the return to study and have a great sense of satisfaction from my achievement. And frankly, if I can do it anyone can!
Just shows it's never too late to change careers if you have the drive and determination. An example to us all!

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