Practical Experience Requirement is the most vital part of the ACCA Qualification. When a student registers for ACCA, he becomes an ACCA affiliate. To become an ACCA member, a student has to go through all three levels of ACCA qualification i.e. 1. The Exams, 2. The Professional Ethics module and 3. The Practical Experience Requirement. The ACCA Practical Experience Requirement also called ACCA PER is defined as the minimum work experience in relevant domains needed to earn the ACCA membership and certificates. Lets discuss in detail about ACCA PER.
U.S. Air Force pilot learning to fly an aircraft for the first time on his training day) Look at the image above. What do you think? Does the pilot know everything about flying an aircraft because he read it in a book? No!!!! The pilot must be thinking that everything what he read in the books are different from what he sees in the field. In the field, we face real challenges. And every challenge we face is different from past challenges. The only skill that works here is experience. That is why experience is a must in any line of work.
What is ACCA PER?
ACCA PER has 3 parts
- Three years/36 months of job/work experience in Accounting or Finance domain. The experience can be gained during the ACCA examinations or after passing all the examinations.
- The achievement of 9 performance objectives which are set by ACCA. Your practical experience supervisor has to approve and certify that you have successfully achieved all the performance objectives.
- Recording & Reporting of the candidate’s PER progress via an online platform.
Working for an ACCA approved employer during ACCA PER
ACCA approves different employers for their ability & quality in providing useful training to ACCA affiliates. There are two types of ACCA approved employers i.e. Platinum ACCA Approved Employer & Gold ACCA Approved Employer. If your employer is Gold or Platinum approved then you can claim for exemptions from achieving your performance objectives. That means that you do not need to document completing the performance objectives in your My Experience record.
How to claim exemption from achieving performance objectives?
- Get employed in an ACCA Gold/Platinum approved employer
- Confirm with your employer that they have that level of approval
- Get your employer’s approval before applying for exemptions
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