ACCA’s PER and how to Achieve It!
ACCA's PER (Practical Experience Requirement) objectives are designed to ensure that ACCA students develop the necessary skills, knowledge, and behaviours required to become competent and ethical professional accountants. PER is a mandatory component of the ACCA qualification and focuses on real-life work experience in addition to passing the exams. It becomes part of the 3 important E’s of ACCA, Exams, Ethics and Experience.
The PER objectives are as follows:
1. Technical Competence: Develop a strong understanding of technical accounting and finance knowledge and its practical application in a professional setting. This involves gaining experience in areas such as financial reporting, management accounting, taxation, audit, and financial management.
2. Ethical and Professional Behaviour: Demonstrate ethical behaviour, professional values, and judgment in dealing with ethical dilemmas and maintaining professional standards. This includes understanding and applying the ACCA's ethical code, demonstrating integrity, and promoting ethical practices in the workplace.
3. Personal Effectiveness: Enhance personal effectiveness by developing skills such as communication, teamwork, time management, problem-solving, and leadership. This involves effectively applying these skills in practical work situations and continuously seeking opportunities for personal growth and development.
4. Business Awareness: Gain a broader understanding of business environments and the commercial context in which organizations operate. This includes developing knowledge of the industry sectors, economic trends, regulatory frameworks, and the impact of business decisions on stakeholders.
To achieve these PER objectives, ACCA students must undertake relevant and varied work experience while being supervised by an appropriately qualified mentor who is an ACCA member or holds a recognized professional accountancy qualification.
Here are some steps to achieve the PER objectives:
1. Secure Employment: Obtain a relevant job or internship position in an organization that provides opportunities to gain practical experience in accounting and finance.
2. Identify a Mentor: Find a qualified mentor within the organization who will guide and support you throughout your PER journey. Your mentor should have a good understanding of the PER requirements and be willing to provide regular feedback and supervision.
3. Plan and Document Learning Objectives: Collaborate with your mentor to identify specific learning objectives based on the PER objectives. These objectives should align with the tasks and responsibilities of your job role and provide opportunities for development.
4. Regular Review and Feedback: Meet regularly with your mentor to review your progress, discuss challenges, and receive feedback on your performance. Use this feedback to improve your technical competence, ethical behaviour, personal effectiveness, and business awareness.
5. Record Practical Experience: Maintain a PER record, documenting your practical experience, responsibilities, and achievements. ACCA provides an online tool called My Experience where you can record and monitor your progress.
6. Reflect and Learn: Reflect on your experiences, challenges, and achievements to identify areas for improvement and personal growth. Actively seek opportunities to enhance your skills, knowledge, and behaviours by taking on new responsibilities and engaging in continuous professional development activities.
7. Complete the PER: Once you have met the required minimum duration and achieved the desired learning outcomes, submit your PER record for review by ACCA. ACCA will assess your record to ensure it meets the PER requirements before granting you the Practical Experience Requirement.
By following these steps and actively engaging in relevant work experience, reflection, and development activities, you can achieve ACCA's PER objectives and demonstrate your readiness to become a professional accountant. Also don’t forget that ACCA provides the flexibility of earning this experience at any time of your lives i.e. before, during and after completing ACCA. Therefore if you already have any experience, don’t let that go waste, use it to reduce the years of experience required if not the technical objectives. All the best!
You are not logged in. Please login to post comments.
All Rights Reserved.