22 Performance Objectives for ACCA Practical Experience Requirements (PER)

There are 3 requirements to be fulfilled in order to becoming ACCA Member. One of the requirements is Practical Experience Requirement (PER).

Read more on 3 requirements to be awarded ACCA membership: https://blog.fame.edu.my/3-requirements-to-be-awarded-acca-membership/

Candidates must fulfill Practical Experience Requirement, which involves achieving nine performance objectives over a minimum of three years of relevant work experience. These objectives are designed to ensure that aspiring members gain the practical skills and knowledge required to excel in the accounting profession. The nine performance objectives consist of five compulsory Essentials and any four from the 17 Technical objectives.

Essentials (Complete All Five Objectives)

1. Ethics and Professionalism
   This objective ensures that candidates uphold ethical standards and act with integrity in their professional roles. It involves identifying and addressing ethical dilemmas, adhering to professional codes of conduct, and ensuring that decisions align with ethical principles.
2. Stakeholder Relationship Management
   Candidates must demonstrate the ability to effectively manage relationships with stakeholders, including clients, colleagues, and other business partners. This involves clear communication, understanding stakeholder needs, and fostering trust to achieve mutual goals.
3. Strategy and Innovation
   This objective focuses on contributing to the strategic direction of an organization and encouraging innovative solutions. Candidates are required to identify opportunities for improvement, support strategic decision-making, and drive initiatives that add value.
4. Governance, Risk, and Control
   Professionals must ensure strong governance structures are in place, identify organizational risks, and implement appropriate control measures. This objective is crucial for maintaining compliance and safeguarding the integrity of operations.
5. Leadership and Management
   This objective emphasizes leadership skills, including managing teams, motivating colleagues, and allocating resources effectively. Candidates must show they can guide others towards achieving organizational goals and drive performance.

Technical Objectives (Choose Any Four)

The Technical objectives allow candidates to develop specialized expertise in specific areas of finance and accounting. These objectives are grouped into five key areas:

Corporate and Business Reporting

6. Record and Process Transactions and Events
   This involves accurately recording and processing financial transactions, ensuring they comply with relevant accounting standards and regulations.
7. Prepare External Financial Reports
   Candidates must prepare financial statements and reports in line with statutory and regulatory requirements.
8. Analyze and Interpret Financial Reports
   This objective requires the ability to evaluate financial reports to provide insights that inform management decisions.

Financial Management

9. Evaluate Investment and Financing Decisions
   Professionals must assess investment opportunities and financing options to maximize organizational value.
10. Manage and Control Working Capital
    This involves overseeing the effective management of working capital, ensuring sufficient liquidity while minimizing costs.
11. Identify and Manage Financial Risk
    Candidates need to recognize financial risks such as market fluctuations and implement strategies to mitigate their impact.

Management Accounting

12. Evaluate Management Accounting Systems
    This requires assessing the effectiveness of management accounting tools and systems used to support decision-making.
13. Plan and Control Performance
    Candidates should demonstrate the ability to set performance targets and establish mechanisms to monitor progress.
14. Monitor Performance
    This objective involves regularly reviewing performance data and providing feedback to enhance operations.

Taxation

15. Tax Computations and Assessments
    Professionals must perform accurate tax calculations and ensure compliance with tax laws.
16. Tax Compliance and Verification
    This involves ensuring all tax filings meet statutory requirements and verifying their accuracy.
17. Tax Planning and Advice
    Candidates should provide effective tax planning strategies and advice to optimize tax liabilities for individuals or businesses.

Audit and Assurance

18. Prepare for and Plan the Audit Process
    This involves organizing audit engagements and ensuring they align with regulatory standards.
19. Collect and Evaluate Evidence for an Audit
    Candidates need to gather, analyze, and assess audit evidence to support conclusions.
20. Review and Report Audit Findings
    This objective requires summarizing audit results and preparing comprehensive reports for stakeholders.

Advisory and Consultancy

21. Business Advisory
    This objective focuses on providing strategic advice to improve business performance, including financial and operational insights.

Data, Digital, and Technology

22. Data Analysis and Decision Support
    Candidates must use data analytics tools and techniques to provide actionable insights and support decision-making processes.

Practical Experience Process

Candidates achieve these objectives by documenting their experience in the ACCA online platform, guided by a workplace mentor. This structured approach ensures candidates develop a robust blend of technical expertise and essential soft skills. Together, the performance objectives prepare future ACCA members to thrive in diverse accounting and finance roles across industries.

Read m0re on ACCA Practical Experience Requirement: https://www.accaglobal.com/content/dam/ACCA_Global/Students/per/PER-trainee-guide.pdf