Practical Experience Requirement (PER) Part 3

for u…

Question from a Student
“I applied as SAA student before Jan 2007. BUT i’m not working in an accounting field as i’m not studying business related course during poly days. Hence does this apply to me? Do i need to change to a accounting related job before Dec 2007?”
First and foremost, all students and affiliates of ACCA will be affected by PER.
To get the four letters “ACCA” at the end of your name, GENERALLY you have to take 3 steps.
– Exams
– Ethics
– Experience ie. PER
So whether you are working directly or indirectly in an accounting-related job, you must be able to fulfill the lucky 13 performance objectives.
The first 9 Essentials are from 3 main areas ie.
  • professionalism / ethics / governance
  • personal effectiveness
  • business management

As you can see, these are generally non-accounting/financial related and should be achievable by all.

The next 4 are to be chosen from 11 from 5 areas. They are definitely accounting/finance related but they are strictly not accounting/finance jobs. The details are as follows:-

Financial accounting and reporting
– prepare financial statements for external purposes
– interprete financial transactions and financial statements

Performance measurement and management accounting
– prepare financial information for management
– contribute to budget planning and production
– monitor and control budgets

Finance and financial management
– evaluate potential business / investment opportunities and the required finance options
– manage cash using active cash management and treasury systems

Audit and assurance
– prepare for and collect evidence for audit
– evaluate and report on audit

Taxation
– evaluate and compute taxes payable
– assist with tax planning

So realistically, what should you do?
Answer – Get yourself involved actively in at least 4 of the above activities. Diarise the whole process for each activity so as to evident your involvement. Your supervisor must be satisfied with your participation to finally sign off.

You have time to achieve all 13 ie. from the day you start work till whenever you are ready over different supervisors / departments / employers / companies etc.

So it is good to keep PER info in your office all the time!

Welcome more questions. Till then, cheers.

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One Comment

  1. Hi, I’ve been an affiliate member for a number of years (way before Jan 07) although I work in an IT organisation as a project manager. I’ve implemented a number of packaged accounting systems (e.g SAP, ACCPAC) as well as developed accounting systems with double-entries, acrrual handling, Journal postings, and taxation rules from scratch for a few clients. However, there is no suitable mentor in my organisation to sign-off my work. With regards to the first 9 Essentials are from 3 main areas ie. professionalism / ethics / governance, personal effectivenessand business management, can I get my non-finance/accounting reporting officers to sign-off?As for the other 4 accounting areas, is there any suggestions for me how I can achieve the experience?Thanks!

    Reply

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