Five myths about ACCA's Performance Objectives

Many ACCA students focus on their exams progress. In the same time, the employers are keen on their knowledge gained from exams, ethical behaviour and practical experience.

Thus, do not forget about your Ethics module and PER. It makes your value as a professional higher and your chances to get an attractive job offer increase significantly.

ACCA analysed the students' contacts via ACCA Connect and found five myths about Practical Experience Requirements (PER).

Myth #1 "All I need to achieve a PO is to tick right box"

There are three challenge questions for any PO and no any prescribed right or wrong answer. You should describe your own situation (up to 500 words), then your experience gained (up to 500 words) and possible impact if you had not behaved ethically in this situation (up to 500 words).

Myth #2 "I don't need to prove experience - once, I've passed exams, I am ACCA member"

Exams are only part of the story. You need to apply the knowledge gained from exams in the workplace. Exams, ethics and experience are all needed for ACCA membership.

Myth #3 "I can only use permanent job to count 36 months of my experience"

Experience can be gained also in part-time roles, secondments, job rotations, project works.

Myth #4 "Whoever I'm working for can sign off my POs - even I achieved them in a previous job"

Your workplace mentor should sign off your POs at the time you undertake the work. You may have more than one mentor if you are promoted, switch teams or changed employer.

Myth #5 "I don't need to do my PER"

Employers value ACCA qualification, but without relevant experience you will be at a disadvantage compared with those who complete ACCA in its entirety.

There are three main requirements to get ACCA membership:

• 14 Exams
• Professional Ethics module
• 36 months work experience & 13 Performance objectives

First requirement are fully clear and understandable. You should pass 14 exams during 10 years period from your initial registration.

Second requirement is to complete online module of Professional Ethics. There are 9 units to pass. I have already done it !

Third requirement is to gain relevant practical experience (PER) and to complete 13 Performance objectives.

For people who work for ACCA approved employers there is no need to complete 13 POs. They just fill in the form for approved ACCA employer which is an evidence of relevant experience and maintaining the POs. This form is signed by seniors and with his (her) professional certificates copy will be sent to ACCA office. The goal is met and ACCA membership would be given after completion of two requirements.

I am not so happy to work for approved employer, so I need to start my 13 POs:
all nine Essentials - from 1 to 9 POs
any four Options - from 10 to 20 POs

I will demonstrate my achievements of POs to workplace mentor by answering three unique questions of any POs.
My workplace mentor should be ACCA member or has a world wide known financial qualification.
My CFO has CFA certificate and therefore he is eligibe to be my workplace mentor under ACCA rules.

ACCA procedure of claming your POs