Personal Development

Exam prep, study and practising in exam-day conditions are all important to acing your exams. Caelainn McGonigle knows it's important to take care of yourself, as well During your Chartered education, stress is unavoidable. When you experience high levels of stress, it can present itself by impacting physical and mental health.  Below are several steps to mitigate these stressors and give ourselves the best opportunity to excel when it counts. Sleep When we are stressed, it's easy to think of sleep as “time-consuming”, but allowing our mind and body to rest is critical to our success.  By the time we reach exam week, countless hours will have been spent preparing by attending lectures, revising notes and attempting sample papers. Without achieving seven to nine quality hours of sleep a night, we risk restricting our exam performance on the day.  If you encounter difficulties resting in the lead up to your exams, attempt to close the books an hour earlier and reduce screen time before bed. Exercise and fresh air Taking a break to move your body and relish the fresh air enables your mind and body to relax and reset.  Exercise, whether walking, running or cycling, can moderate our stress levels and improve sleep quality.  When heading outside, you might prefer to enjoy the silence of the outdoors, or need a little motivation to move your body, such as listening to a podcast or music – either is excellent for your mind and body as long as you are getting your heart pumping. Nutrition Maintaining nutritional balance in your meals can be taxing when stressed. It can lead us to over-indulge in meals and snacks, or forgo them all together. We must uphold a nutritious diet to aid focus levels and sustain energy.  Meal planning in advance of high-stress periods, like exam week, along with keeping enjoyable snacks to hand, is a sure way to remain fuelled when working hard.  Positive mindset during exams Stress can amplify our emotions. Preserving a positive mindset and prioritising being gentle with ourselves is critical.  It's important to remember the efforts you have made to reach exam season. The groundwork is complete, and it’s time to flaunt what we have learned.  Exams are important, but maintaining our health is a necessity. If you struggle with positivity, try subscribing to a “quote of the day” app or social media page – it may give you the boost you need at just the right time! Reach out If stress is increasing faster than you can handle, reach out to a fellow student, friend or family member.  Alternatively, the amazing Thrive team and the Chartered Accountants Ireland Wellbeing Hub are on hand to offer help and support throughout our journey.  We have excelled through stressful situations in the past. Accept that stress is unavoidable but manageable, and you haven’t come this far only to come this far. Caelainn McGonigle is PR Officer with CASSI and a trainee with Gilroy Gannon

Patrick McCarthy's failed Y-combinator interview changed his perspective on problem-solving. He highlights five common stressors experienced by ACAs and suggests developing skills to address them In 2019, I had a 10-minute interview that could have made me a millionaire.  Y-combinator is a business accelerator program in San Francisco famous for being early investors in Stripe, Airbnb and Dropbox. Of 15,000 applications, they interview 600, of which 50 percent will be chosen for investment. We made that 600.  I won’t drag you through the suspense. We didn’t get in. They hated our idea (to create a Netflix for Continuous Professional Development), but the explanation of why they hated it changed the way I have looked at problems and solutions forever. Performing under pressure… or not Fifteen seconds into the interview, we pitched our idea.  I don’t remember most of the next nine minutes specifically, but I do remember being really annoyed that they kept asking us the same question: “How would you create content that was broad enough for a mass audience but make it specific enough to solve the problems on an individual scale?”  We answered it. They asked it in a different way. We answered again. They asked in a different way. Continuous loop.  We had prepared over 50 questions, and they still hadn’t moved past this one. I felt the time passing. It was infuriating, and I wasn’t handling it well.  A chime went off; it was the timer to signal the 10 minutes were up. They said thanks, and the Zoom call ended.  It's not you (or me) Y-combinator communicates the process to you ahead of time. If you’re successful in the interview, someone will call you immediately. Otherwise, you receive an email with feedback.  We waited for the email. The feedback was painful and centred on the looping question. It felt like a personal rejection. But it wasn’t. And that’s the key takeaway from the whole debacle. So many people attribute blame to themselves when the blame can often be inherent in a situation.  Take our position into consideration. Y-combinator has invested in various companies trying to do what we were doing. They all failed based on the content creation for a mass audience not being specific enough on an individual basis. Millions of dollars had been wasted. The interview panel had invested in those ideas. That’s why they were interviewing us. The obsession with that question was to see if we had some sort of unique insight into how to solve it. Without an insight, we had no chance of succeeding.  It didn’t matter what we’d done or who we were. We weren’t special. We were just two more people with a common idea who had no insight on how it could grow apart from “we’ll figure it out”.  I’m not going to pretend I enjoyed the experience. I didn’t. But the lessons were invaluable.  Their rejection wasn’t personal. The problems we inherited weren’t personal either. They were situational. Anyone building a business in this space inherited the problems we did. Why that matters to you There are five problems almost all ACAs experience stress around. They’re inherent in qualifying as an ACA. You may not experience any of them ever, but you’d be unique if that was the case.  I hear these problems from hundreds of people every year through my lecturing. They’re always the same. Here they are in no particular order: Their manager: The feeling of support from your manager is  one of the cornerstones of enjoying and staying in your job. The minute you don’t feel supported, you’d have one foot out the door. Personal fulfilment: Some people want to find a large element of personal fulfilment and satisfaction in their work, and if that disappears, they often question their jobs. Professional development: In some positions, competition for promotions and leadership roles can be fierce, and this can create pressure and anxiety for individuals who are seeking to advance their careers. Social pressure: There is often societal pressure to 'succeed' and advance in one's career, and this can create additional stress and worry for people who feel that some jobs may be more prestigious than others. Work-life balance: The trade-off between working hours and salary is a constant battle for most people. Most of these problems have a large portion of generality followed by a flavour of individualism.  For example, you fight with your manager because you format documents differently from how they do. The generality of that problem is a relationship issue with your manager (everyone has them). The specific piece is it’s based on formatting (individual part).  It would make sense generally to develop skills to deal with these five problems instead of taking on each one personally. What (I think) I would do I have purposely kept this light because I refuse to give specific advice to a general audience (Y-combinator echoing in my mind). What I will do is outline exactly what I think I would do.  First, I would evaluate my own job based on how things are going.  Most people are quite happy in their roles. If you are one of the people who aren’t, take out a piece of paper and rate your issues on a scale of 1–10 with 1 meaning you don’t care about that problem much and 10 meaning that it matters a lot to you.  Now you have narrowed it down to what you care about.  Second, I would find someone a few years older than you to reach out to for advice. It may be an ACA or someone else you admire. I would ask them what they would do if they were experiencing one of your problems, or if have they any advice on how to manage the situation.  In every situation there is an element of responsibility that has to be taken on by you. However, if this isn’t the first or second time you’ve found yourself with this issue, you may need to look at your skillset in problem resolution.  Getting advice from an objective person can be invaluable in this context.  There are 30,000 qualified Chartered Accountants in Ireland. I have yet to meet one who wouldn’t spare 10 minutes to offer advice to someone asking in the right way. Navigating our growth Ultimately, my failed Y-combinator interview may not have made me a millionaire, but the lessons learned and the changed perspective on problems and solutions have proven invaluable. Rejections should not be taken personally but rather viewed as situational challenges to overcome, and by developing skills to address common stressors and seeking advice when needed, we can navigate these challenges and grow both personally and professionally. Patrick McCarthy is a Chartered Accountant and Founder of Performance Labs

You’ve finished up your exams and now have some time to relax. However, you want to make sure you don’t lose focus. Suvi Inkinen shares her tips on staying motivated while having a restful summer With the CAP1 and CAP2 exams completed for the summer, some students might feel a slump in their productivity or worry they will get out of their established study-work-life routine. Here are a few ways to stay active while getting a much-needed break. Upskilling The summer is the perfect time to upskill in ways that may be unrelated to work.  For most students, it is a slightly quieter period and thus is great for branching out into different work-related tools. For example, teaching yourself how to use various digital assets. This is a good way to keep the brain active during summer. Prioritise your health Students should learn to prioritise their health to maintain an excellent work-life balance.  Working or studying late some evenings is a must, but students should always ensure that they’re getting enough exercise and rest.  A simple way to ensure a good work-life balance is to take your lunch break and have it blocked off on your calendar every day. If I’m working from home, I love to head out on a walk during lunchtime.  Another fantastic way to ensure there is balance in your busy life as a Chartered Accountancy student is to get actively involved in related societies, such as CASSI (or regional societies for Dublin, Cork, Ulster, Galway, Mid-West, Midlands and Limerick) for students or Young Professionals (YPs) once you qualify.  CASSI & YPs provide academic content through webinars, CPD events, exam top-tips and career evenings throughout the year, along with social activities such as BBQs, quizzes, cruises and weekends away with fellow Chartered Accountants. Prep for the next term? I recommend taking a break from studying over the summer period and starting fresh once the term begins.  The Institute’s exams are much more challenging than any college exam (in my opinion), and your brain deserves a break before starting again in September.  I always find myself motivated to begin studying again after taking time off and relaxing. You’ll have plenty of time to study before the next set of exams! CASSI CASSI is there for students, and you can contact us through any of our socials, which include: Email Address: cassinetwork@gmail.com Instagram: @cai_student_society LinkedIn: Chartered Accountants Students Society Ireland Our CASSI Education Officer prepares an exam survey sent to students via the Institute’s student affairs team after each exam. I recommend that students complete this survey as the results are brought to the Institute for review when assessing the marking scheme. This contributes to how exams are run in the future, ensuring your needs are being met. Suvi Inkinen is a Risk Assurance Associate at PwC Ireland 

With exam season kicking off this month, it can be an extremely overwhelming and pressured time for students. Dee France, Thrive’s Wellbeing Lead, shares her advice on handling exam stress and anxiety  It is a perfectly normal experience to feel worried and stressed when faced with impending exams or any type of performance situation.  A healthy and ordinary amount of stress can even be good for you, giving you the motivation to push through and keep you focused. However, when worry, self-doubt, fear of failure and the pressure to perform well become too intense, they can interfere negatively with exam preparation and performance.  As feelings of stress push past optimal levels, it can have a devastating effect on our concentration, and our ability to learn, remember and demonstrate what we know.  Causes of exam anxiety  To effectively manage anxiety, it is important to understand why you are feeling this way. There are many variables that may contribute to and relate to these feelings:  Past experience with exams;  Poor preparation, inexperience undergoing exams and unfamiliarity with exam and study techniques;  Poor self-care, such as bad sleep habits, unhealthy eating, lack of exercise and limited relaxation time; Intrusive and unhelpful thinking patterns such as saying to yourself, “I can’t do this” or “I’m going to fail”;  Strong sense of failure; or  Extreme pressure to achieve placed on you by yourself or others. Tips for handling exam anxiety  How you spend your time leading up to your exams can have a huge knock-on effect on your anxiety and stress levels.  Routine  Essential to managing anxiety and stress when faced with exams is creating a study routine early in the year as opposed to haphazardly cramming a year’s worth of learning into a few days.  Design a study schedule and map out how you will spend your days.  Schedule your study time in short, succinct time blocks with a 10-minute break for every hour.  It is important to have a hard stop each evening to allow some time to unwind, and block out a day each week that is revision free. By carving out a comprehensive and realistic schedule, you will focus better, feel in control and be less likely to procrastinate.  Being prepared will help you feel more relaxed and confident and goes a long way to easing stress levels and keeping your nerves in check. Mind and body  When we are busy, other parts of our life can be easily neglected, and we can forget to take care of ourselves.  When it comes to managing anxiety and stress, nourishing your mind and body should not be underestimated.  It is important not to push yourself too hard or overlook your needs.  Regular exercise, eating well and sleeping properly are some of the most effective stress relievers at our disposal and are essential for being at our best physically, mentally and emotionally.  Incorporating fundamental self-care practices into your study routine can ease the pressure of trying to balance your time with other vital activities. Relax  To relieve symptoms of anxiety and stress, practise deep breathing or other relaxation techniques such as progressive muscle relaxation or yoga to help calm the body, alter the body’s response to anxiety and release tension.  In general, relaxation techniques are about refocusing your attention and increasing awareness in the body. It is a good idea to engage in these activities when you are relaxed and practise regularly to reap the benefits.  Ask for help  If you are overwhelmed by upcoming exams, you might find it helpful to share how you are feeling.  At Thrive, we witness a spike in students contacting our services at this time of year regarding exam stress and anxiety, which is one of the most common concerns students are dealing with.  Thrive is the Institute’s dedicated well-being hub, which is freely accessible to all students.  The hub provides a wide range of services tailored to our students' well-being, such as wellness coaching and professional counselling. All services are delivered in complete confidence and are available at any stage of your journey with the Institute.  For more advice or information, check out Thrive’s dedicated wellbeing hub.  Alternatively, you can contact the Wellbeing team by email at: thrive@charteredaccountants.ie or phone: (+353) 86 0243294

Remote work has given trainee accountants a lot of freedom. However, that freedom comes with some challenges that can be overcome with balance, says Jack Deignan It’s easy to list the obvious joys of remote work. The increased levels of flexibility in daily routines, the total elimination of the pains of the commute and the comfort to be found in working from your own home.  There’s also something to be said of the lack of pressure that working from home allows. There is no expectation to get out of your pyjamas, and you can take solace in knowing your favourite mug is just down the hall.  It can be much easier to get into the rhythm of the day if you just need to walk from your bed to your desk.  Work and study challenges However, working remotely is not without its challenges.  The lack of social cohesion in teams when everyone works from home can impact performance. It’s also difficult to foster a sense of comradery if every interaction is facilitated through a screen.  Learning on the job has also become more difficult in some cases. It’s almost always more beneficial to ask someone to explain something face-to-face.  The same goes for studying. When the pressure is on, it can feel isolating to be away from people who are going through the same kind of juggling act between work, study and life. A proper balance Working remotely has created an opportunity to reflect on what is gained and lost when given a chance to work from home.  We must balance our work and study while utilising the advantages of remote working. When working from home, you can get lost in a task and continue working more than what would be considered healthy for proper work-life balance. It’s important to remember to take breaks—go for a walk, get a coffee and don’t worry about going to the GP or running to the post office if needed. Similarly, studying can take over your life when you don’t have people around you that can keep you in check. Take the initiative to meet fellow trainees for a study session at the office or a local café.  Alternatively, set up a Teams or Zoom study call, so you don’t have to leave home but still have a study group. Having flexibility doesn't mean forgetting when the work and study day ends—it means you get some of that time back for yourself. Enjoy it. Jack Deignan is a Risk Assurance Associate at PwC  

What’s the second most crucial step to qualification after passing your exams? Your CA Diary. Hugh Carroll, Education & Training Support Manager at Chartered Accountants Ireland, explains why The secret of making progress is to get started’ –Mark Twain The Training Support Unit (TSU) welcomes all our new intake trainees for the 2022/23 academic year. We also recognise the continuing efforts of our established and progressing trainees. Each of you has a fantastic opportunity to push on and join over 31,000 members of Chartered Accountants Ireland. One key area the TSU oversees is the online CA Diary. As you should be aware, the CA Diary is an essential tool used throughout the training period that demonstrates incremental development of skills, knowledge, and competence. This detailed record and success in the FAE form the eligibility requirements for membership.  In short, the CA Diary is as important to qualifying as a Chartered Accountant as success is in your exams, so now is an excellent time to start (or to restart)! Keeping up momentum There is no better time to consider your approach to completing your CA Diary than at the beginning of a new year. Similar to your study and exam technique, setting out (or revising) your plan for ensuring your CA Diary is up-to-date is time well invested.  If you are joining us this academic year, you should be aware that two items need to be in place before you can access and record experience in your CA Diary: You need to have an approved formal registration, which is either an approved Training Contract or an approved Flexible Route registration; and You need to have an assigned CA Diary Mentor. In larger firms, this is typically overseen by human resources or the learning and development/education teams.  Whether you are a new or established trainee, we strongly advise engaging with the available resource materials, including the recently published ‘Trainee checklist for CA Diary entries’, before engaging or re-engaging with your CA Diary record.  It is your responsibility to ensure that your record is kept up-to-date and that you maintain regular contact with your mentor on this crucial aspect of your qualification.  Please be aware that the TSU, in conjunction with our Professional Standards Department, monitor the compliance of trainees and mentors in this area.  If you have any questions about the above, contact the relevant team/person in your training organisation, or contact us at the TSU.  Audit qualification An important future consideration for all trainees working in audit is a (post-membership) qualification called the Eligibility Requirements for the Audit Qualification (AQ). This is separate and distinct from the ACA qualification.   To meet the AQ, the CA Diary record needs to document specific details around your audit engagements. Before creating or updating entries, trainees should consult the ‘Guidance for recording audit experience’ section of the CA Diary Resources webpage. Resources and support The TSU provides guidance and direction on the CA Diary, and documents such as the Professional Development Requirements guide, CA Diary Guide and Sample Entries document are essential reading. These and further resources, such as onscreen tutorials, are available on the CA Diary Resources Webpage.  Should you wish to contact the team, we would be happy to hear from you at trainingsupport@charteredaccountants.ie or by phone: +353 01 637 7202.