Do you plan to become an ACCA (Association of Chartered Certified Accountants) member and need guidance on how to satisfy the ACCA PER? You may be beginning the ACCA qualification or almost at the end, but in either case, it is important to understand the practical experience requirements in order to be able to finalise your journey to full qualified accountant status.Â
Within this blog, we will take you through the steps, facts, and requirements of the ACCA PER and provide some guidance on how you can achieve the necessary practical experience.
What is ACCA PER?
The full form of ACCA is Association of Chartered Certified Accountants and the ACCA Practical Experience Requirement (PER) is an important milestone in the journey to becoming an ACCA member. The practical experience requirement is designed to ensure that the candidates have not only academic knowledge but also real-world experience in the accounting and finance sectors. Completion of the ACCA PER is proof that you’ve gained the hands-on experience necessary to excel in your career.
In order to achieve the ACCA PER, the candidates are required to have three years of relevant professional experience. This professional experience allows them to gain a portfolio of skills in various accounting and finance roles. ACCA PER focuses on the development of an integrated set of skills that are required by the global finance industry.
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What Are the Features of the ACCA PER?
The ACCA PER has several key features that make it both a comprehensive and flexible program. Here’s a breakdown of the main features that you should know about:
What is the Time Frame for Completing ACCA PER?
The ACCA practical experience requirement (PER) is usually completed over a period of three years. You will be required to work in accounting and finance roles during this time and record your experience. This three-year duration, however, can be fulfilled over time flexibly as you acquire the experience. You are not required to finish the three years in succession, and part-time or full-time work can be included in your experience, provided the work is relevant to your ACCA qualification.
Why Do You Need a Practical Experience Supervisor?
To finish the ACCA PER, you will need a practical experience supervisor. He/she is a senior member of staff in your organisation with the relevant experience and qualifications in accounting. Your supervisor will be responsible for guiding you in your learning, ensuring that your work is relevant to the ACCA work experience requirements, and ensuring your progress. He/she will also provide feedback and sign off on your experience completion.
What Is the MyExperience Tool?
The ACCA MyExperience tool is an online tool that allows you to record, track, and manage your practical experience. Through the tool, you are able to log your experiences, objectives, and skills gained over time. You are also able to upload evidence and documentation of your work, which allows your supervisor to assess your progress and sign off on your experience. With the MyExperience tool, you are able to make the process more efficient and keep track of your progress in fulfilling the ACCA practical experience requirement.
What Are the Essential Objectives of the ACCA PER?
ACCA PER has its own aims, which you ought to attain to be able to complete the program successfully. The aims have been categorised into essential and technical aims.
Essential Objectives: These objectives are based on core competencies that are expected of any professional accountant. They include topics like communication, professional judgment, and ethical conduct. These objectives are necessary to make sure that you gain the right mindset and ability to succeed in the accounting field.
What Are the Technical Objectives of the ACCA PER?
The technical objectives have more specific skills in relation to accounting and finance. These objectives cover fields like financial reporting, taxation, management accounting, audit, and other technical fields of the profession. Completing these technical objectives ensures that you gain the detailed technical knowledge required for an ACCA-qualified professional.
Is the ACCA PER Flexible?
Yes, the ACCA PER is extremely flexible and hence a favorite of those who wish to balance work, study, and personal life. You get the chance to gain practical experience through part-time employment, voluntary work, or even internships, as long as it relates to the practice of accounting. The timing of the completion of the three years is also flexible, as you can align your learning and experience pace based on your requirements.
About Zell’s ACCA Course
We, at Zell Education, offer you a comprehensive ACCA course that allows you to meet both the academic and practical experience requirements of the ACCA qualification. Our course is designed to provide you with in-depth knowledge of finance and accounting and prepare you for the practical challenges you will face as an accountant.
We take you through every step of your ACCA journey, helping you build the competencies and confidence that will see you succeed. From accounting fundamentals to strategic management at an advanced level, Zell’s ACCA program will equip you with the skills necessary to excel in the competitive world of accounting.
Why Zell’s ACCA Course Is the Best
Zell Education’s ACCA course is one of a kind for several reasons. We offer expert tutoring from experienced lecturers with years of practical experience in the accounting field. Our course covers all the topics required for the ACCA exams while also allowing you to fulfill the practical experience component through work placements, internships, and partnerships with leading firms in the accounting field.
Our course also offers convenient learning opportunities, such as online courses, to suit your schedule. With Zell, you don’t learn just theory; you develop hands-on skills that will prepare you for the workforce upon course completion.
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FAQs on ACCA PER
Does My Previous Work Experience Qualify for ACCA PER?
Yes, your previous work experience can qualify for the ACCA PER as long as it meets the practical experience requirements as outlined by the ACCA. You should ensure the job roles and activities you have performed are mapped to the competencies outlined in the ACCA PER. Discuss with your practical experience supervisor to determine if your previous roles can be included.
Do Internships Count for ACCA PER?
Internships may be included in your ACCA practical experience requirement, provided the work you are doing is relevant to the accounting profession and in line with the ACCA PER objectives. Make sure your internship supervisor will be able to verify your progress and that you will be able to log your experience via the MyExperience tool.
Who Can Be My Practical Experience Supervisor?
Your work experience supervisor must be a qualified and experienced accountant. There will typically be a senior manager or colleague in your company who can guide you and make sure your experience is relevant to the ACCA PER. If you’re self-employed, you can appoint someone to oversee your work experience.
Do I Qualify for ACCA PER if I Am Self-Employed?
Yes, if you’re self-employed, you will be able to meet the ACCA practical experience requirement. You will be required to appoint an independent supervisor who is accountancy-trained and can verify and assess your work. This supervisor will need to verify your experience is meeting the required objectives outlined in the ACCA PER.
