ACCA(Association of Standard Chartered Accountants) completion is the dream of many in the world. Is only completing ACCA enough? Yes, completing ACCA is a very big accomplishment but, ACCA theory does not equate practical experience. It’s essential to gain some practical experience as well.For that purpose professionals and students do PER. Let’s read along and we will guide you with the importance of ACCA practical experience
What is ACCA PER certification?
ACCA PER certification is an important aspect of ACCA qualification. It is specially designed to bridge the gap between theory and practicality of the ACCA studies. This certification gives candidates hands- on experience and skills to excel in the workplace during their studies. PER helps students in achieving ACCA membership by demonstrating their practical skills.
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What Background is Needed to complete ACCA PER certification?
Completing the ACCA Practical Experience Requirements, does not need specific academic or professional background instead these following elements are mandatory to be fulfilled.
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Enrollment in the ACCA programme
Before initiating your PER journey one must be enrolled as an ACCA student. This includes registration with ACCA meeting the eligibility criteria and passing through your exams.
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Relevant employment
Your work must be lined up with the knowledge listed in ACCA syllabus. Typical roles include accounting, finance and auditing and taxation related roles to ACCA.
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Workplace mentor
Mentors hold so much importance in student lives.Having an ACCA qualified member and already employed ACCA accountant is important for PER. Mentors will guide you throughout the process and ensure you will meet the required standard.
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Committed to learning
PER is a passive process and it needs active participation, continuous learning and consistent progres tracking to meet the performance objectives.
Key Features of the ACCA PER Certification
Here are the main criteria for ACCA PER certification that needs to be fulfilled.
Candidates must complete 9 of 20 performance objectives classed as technical and professional skills. These objectives include.
- Ethics and professionalism
- Stakeholder Relationship Management
- Financial management
- Risk management
Supervisory Approval
Practical experience must be overseen and confirmed by a trained professional who will serve as your workplace mentor.
Work Duration
A minimum of three years of relevant work experience is necessary, which can be obtained prior to, during, or after passing the ACCA exams. Past work experience can be counted if it fits in the field of ACCA.
Benefits of ACCA PER Certification
PER certification has many benfits and it promotes personal and professional development. Below are the reasons why it is so important for ACCA students.
Comprehensive skill development
PER includes all the technical and soft skill development steps. This is super beneficial for individuals who will serve in financial domains in future. Hence, this PER makes you an all rounded professional.
Improving Employability
Both academically and practical skills are essential in getting the best jobs. Employers seek professionals who are best in professional skill. PER makes you stand out from others and attractive employers for the companies.
Building Professional competence
PER helps in developing your personal skills such as communication skills, analytical and problem solving skills. Analytical and leadership skills advance with the PER and all these expertise are making you competence for the job market.
Linking the Gap between theory and practical
Students can get theoretical knowledge with exams and real world knowledge with jobs and practical experience in ACCA. By gaining the PER student can connect their theoretical knowledge with the practical skills. As, theoretical skills is of no use with the practical knowledge and vice versa.
Global recognition
PER is globally recognized and validates for students to get jobs in the global market. PER certificate completion validates that students can get exposure in diverse financial fields and learn so much from their changed culture environment if they get employed somewhere else in the world.
Conclusion
The ACCA practical experience requirements(PER) is the important part of the journey to becoming an ACCA member. PER makes one a competent, confident and skillful accountant. So, it should not be a milestone for ACCA students but an evergreen opportunity to grow, learn and excel successfully in the field of accounting and finance.
FAQs (Frequently Asked Question)
What happens if PER is not completed?
If PER is not completed you cannot fully achieve the ACCA membership even if you passed all the exams.
How much time does it take to complete PER?
It takes three years and relevant work experience to complete the PER that can be completed before, during and after the completion of your ACCA exams.
Can past work experience give advantage in PER?
Yes, working experience before enrolling in the ACCA programme counts as well. But, it should be aligned with the ACCA objectives and approved by the qualified mentor.
Do I need to work full-time to complete PER?
No, you do not need to work full-time for completion of PER part-time work is enough as long as it meets the requirements of ACCA.
How do I find a workplace mentor?
You can find a workplace mentor through networking and look for the supervisor or seniors who are already qualified accountants. They can guide you best.
