The journey to be a member of the “Association of Chartered Certified Accountants (ACCA)”, involves concentration and dedication to relevant skills. Alongside this, the knowledge gainer should have experience within a real-time world i.e. the ACCA’s practical experience (PER) and active participation during the industrial training.
Although several questions have arisen in your mind, what and how the students achieve practical experience during the journey of ACCA? What the effective practical experience achieved by ACCA students? So here we address every piece of the information about practical experience you should follow up to achieve your goal during the qualification of ACCA. Let’s read them out!
All aspirants of the ACCA are required to complete all the exams, you must take ethics and professional skills module from the administrator or the real-time environment and complete successful PER before you become an ACCA member and make sure the supervisor you choose must be able to provide you all possible knowledge of all the areas of ACCA to be a member.
There are three components of PER that you should complete before you apply for the membership of ACCA.
- You must complete the 36 months of employment in an accounting or finance-related role. You must achieve five essentials and at least four technical performance objectives to the satisfaction of your practical experience supervisor
- You must record and report your practical experience (PER) progress through the online My Experience record.
You should regularly update your online “My experience record” for betterment. As one of the difficulties trainees can encounter when you come to apply for membership. It is just because they can figure out you are missing some dynamic information such as employee details or you have to gain sign off for time and performance objectives achieved by the previous employer.
ACCA apprentices work in every sector or organization. Wherever you look up for opportunities to help in your requirement or to meet your PER and to obtain one of the important component 36 months’ experiences in an appropriate role. You should choose a job where you can spend your time on activities or tasks related to accounting, auditing, and finance or in other related criteria such as taxation, insolvency, and forensic accounting. If your job only includes some accounting or finance work then the time you spend on it is still valid towards 36 months’ experience for your PER to be a member of ACCA or you can apply your previous experience from a previous role, voluntary work, work experience or internship towards your PER including the experience you gained for ACCA member before registering ACCA.
The lecturing experience is also counted in the PER of the ACCA. So the lecturing experience must be at a minimum level equivalent to the applied skills exams of the ACCA Qualification and cover basic accounting, business studies, and finance-related subjects. If you are a student and you are studying full-time, or not working in a relevant role to gain your PER, it’s still important for you to start thinking about what steps you should need to take in the future to gain the practical experience you are needed to become a member.
The role where most of your time is spent on activities and tasks related to accounting, finance, audit, and assurance, or in other related technical areas such as taxation, insolvency, and forensic accounting. You will be asked to confirm what percentage of your role is spent on relevant accounting or finance tasks and your time will then be automatically calculated on a pro-rata basis. So it is very much important for you to get the range of experience needed to achieve the performance objectives.
For work experience to count towards the PER, it must be supervised and verified by a suitably qualified person. While aspirant can provide basic book-keeping and certain other services directly to the public, this cannot constitute ‘approved accountancy experience’ and therefore can’t count towards the PER.
So you must choose a work station or internship that can widely, easily can help you to get a better practical experience and a complete role to meet your PER and provide you an efficient way to achieve membership of ACCA. If you are looking for the best ACCA college in Nepal, do contact us.