Practical experience requirement per

The article is a PER Guide for students and intends to explain all about Practical Experience Requirement PER. PER is 36 months or 3 years long practical experience required by the ACCA body for students to become a Member. The examinations are not the only premise requiring fulfillment to your ACCA dreams but they are a part of requisite along with PER. The students need to demonstrate the practical use of theoretical skills and their applications in the real-world context. Students need to train themselves to meet a set of objectives mandated in the PER and perform roles with their selected organization of employment. The Practical Experience Requirement is designed to ensure students get equipped with essential skills, knowledge of situation-specific details, and other specialized skills to tackle real-world business situations.

Differences in ACCA Membership and role of PER in membership

There are several types of membership in ACCA but the most important for aspirants looking to become an ACCA are student, affiliate, and member. The ACCA students are those people who have paid an initial registration fee and yearly subscription fee. Since ACCA students can complete the qualification in a time span of 10 years, they are considered students as long as they pay a subscription fee and are not required to appear exams during every exam cycle. Affiliates is a membership where an individual has cleared all the 13 ACCA examinations along with Ethics and Professional Skill Module. Finally, the last membership important to ACCA pursuing students is ACCA Member, ACCA member are the individuals with a clearance of all examinations along with PER.

Steps to completion of Practical experience requirement in ACCA

The students of ACCA in Nepal and everywhere else the ACCA education is accepted and recognized the need to go through similar steps for completing their PER Objectives. The task of gaining PER can be tough but it is not daunting as an ACCA Aspirant might expect. The practical experiment requirement of ACCA can be performed in a few simple and easy steps.

     1. Acquiring relevant skills or experience

An ACCA affiliate or ACCA student needs to acquire a job or role in an organization that is related to account or financial tasks. The students and affiliates have the liberty of selecting the jobs that partially involve accounting or financial tasks, it does not have to be a full-time job related to accounting or jobs. Further, students can join organizations in any sector and are allowed to use their internship and volunteering experiences for meeting their PER objectives given they are supervised. The relevant jobs worked prior are also eligible for claiming PER experiences. Likewise, jobs for Practical experience requirements in ACCA can be part-time or full time and ACCAaspirants can work with different employers during a 36-month time span. ACCA students can either work with only one employer throughout their entire term of employment but it is not mandatory for them to work under one employer. They can work with a number of different employers to complete their PER

  1. Getting a supervisor

Getting a supervisor is another important step to getting your PER. The PER guide for students from ACCA advises you to get your ACCA relevant work experience signed by a supervisor who needs to sign up with My Experience account with ACCA. The supervisor needs to confirm and sign off the roles or tasks ACCA students performed during their term of employment. The Practical Experience Supervisor’s confirmation assures employers and ACCA body the performance objectives are met by affiliate or student during their work. It is essential to get a PER Supervisor who is either a member of the International Federation of Accountants (IFAC) or an accounting body in a student or affiliates country(it is an ICAN registered chartered accountant in case of Nepal). A student need not worry, if there an immediate supervisor or manager is not qualified to sign off the PER objectives, they can ask the firms auditors, other qualified managers or consultant to sign off their objectives.

  1. Begin Recording the experience

ACCA students, MyACCA account comes with a MyExperience section which they must use to record their experience for completion of objectives. The students need to record the name of the organization of employment, organization’s address, their PER supervisor, their job title, and starting date of employment of their employment. The students need to add the details of their selected PER Supervisor and send them an e-mail registration link to sign up as their supervisor.

  1. Choose your objectives and record wisely

They’re a set of essential and technical objectives in PER objectives which student need to choose for making through the PER Completion Criteria. ACCA work experience requirements mandate the completion of nine essential objectives where five are essential objectives (compulsory) and the other four are Technical objectives (selective). The PER guide for students advises them to make a plan with their supervisors to relate the tasks performed to their technical and essential objectives. The students or affiliates both need to write a statement detailing the ways they have used to achieve elements of the particular objectives. The elements and statements must be signed off after submission as proof completion of objectives. The selection of PER objectives varies from students to students and students better consult the Approved Learning Partners (ALPs) they are enrolled with. Students also need to know whether they want to be consultant, analyst, accountant, auditor, or various other career choices available with ACCA qualification to choose objectives that match their goals.

S.N. Objective Name Objective Type Technical Area
1 Ethics and Professionalism Essential Objective
2 Stakeholder Relationship Management Essential Objective
3 Strategy and Innovation Essential Objective
4 Governance, Risk, and Control Essential Objective
5 Leadership and management Essential Objective
6 Record and process transaction and events Technical objective Corporate and Business Reporting
7 Prepare external financial reports Technical objective Corporate and Business Reporting
8 Analyze and interpret financial reports Technical objective Corporate and Business Reporting
9 Evaluate investment and financing decision Technical objective Financial Management
10 Manage and control working capital Technical objective Financial Management
11 Identify and manage Financial Risks Technical objective Financial Management
12 Evaluate management accounting system Technical objective Management Accounting
13 Plan and control performance Technical objective Management Accounting
14 Monitor Performance Technical objective Management Accounting
15 Tax computations and assessments Technical objective Taxation
16 Tax compliance and verification Technical objective Taxation
17 Tax planning and advice Technical objective Taxation
18 Prepare for and plan the audit and assurance process Technical objective Audit and assurance
19 Collect and evaluate evidence for an audit or assurance engagement Technical objective Audit and assurance
20 Review and report on the findings  of an audit or assurance engagement Technical objective Audit and assurance
21 Business Advisory Technical objective Advisory and Consultancy
22 Data Analysis and Decision Report Technical objective Data, digital and Technology

 

Choose Gold Approved Employer

On, all about Practical Experience Requirement, PER advises students to choose ACCA approved employers for completion of PER. The benefit of getting employed at ACCA approved employer outweighs the benefit of pursuing PER objectives from unapproved employers. The Gold and Platinum Approved employer possesses the right to exempt an ACCA student from PER requirements. The right to sign off ACCA aspirants 36 month-long PER objectives – solely rests on the ACCA approved employer and students to keep recording their experience.

Choosing the right employer for completion of PER criteria is as important as choosing the Best ACCA college – SEED Financial Academy is a premier Gold Approved Learning Partner with ACCA offering finest quality education under world-class service and infrastructure. Facilitated learning provided by top professional accountants and brilliant management team ensures students get the best education in our corridors. In the house, Computer Based Examination CBE Centre approval and tie-ups with Gold Standard Approved Employers ensure ACCA students get all the help they need.