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The practical experience requirement (PER)

ACCA's PER is designed to reflect international best practice in learning and development. It has been developed after extensive research with the global profession and employers. This consultation process revealed that employers require an increased focus on an individual's workplace performance, and also closer links between in-company performance management processes and ACCA's PER.

Key features

Under the new ACCA Qualification, the PER:

• sets clear expectations of what trainee (student and affiliate) accountants should be able to do in the workplace through a series of performance objectives
• is goal driven, so trainees are encouraged to set targets, plan development, and mark progress along with their employer
• provides simple and clear progress-reporting tools, which will help both employees and employers get the most out of the process
• is underpinned by a new, online trainee development matrix (TDM), allowing employers to undertake a more proactive and purposeful approach to developing trainees
• comprises a mix of Essentials and Options performance objectives based on the types of work activities trainees will be involved with in addition to the values and attitudes they should demonstrate as they fulfil their requirement
• requires trainees to complete an annual return.

Achieving performance objectives

ACCA is replacing the current process which requires students to complete a Student Training Record (STR).

Under the new ACCA Qualification, trainees will need to demonstrate that they have met a range of workplace performance objectives - benchmarks of effective performance. Performance objectives are divided into nine key areas of knowledge which are closely linked to the exam syllabus - reinforcing that any knowledge developed through the exams process will have a clear application in the workplace. Individuals will be required to achieve 13 performance objectives in total - all nine from Essentials and any four from Options.

Trainees will demonstrate they have achieved a particular performance objective by responding to a set of 'challenge questions' - questions similar to those asked in a performance review, interview or appraisal. This will help them to describe their workplace achievements and will also encourage the trainee to evaluate how the work they have completed has benefited their employer.

Recording practical experience

Trainees will record their achievements through an online trainee development matrix (TDM), which they will access via myACCA using their secure login. The TDM will provide the individual trainee with a valuable record of their workplace achievements - recorded through answering challenge questions. When these achievements are reviewed and signed off by a workplace mentor, the performance objective is achieved. Trainees can also use this facility to print out reports on their progress and maintain a virtual CV.

The online tool will lead trainees through the process of identifying performance objectives they may be capable of achieving as well as providing assistance when describing and evaluating experience gained.

A paper-based version of the TDM will be available for trainees who do not have Internet access. Trainees who opt to use a paper-based version of the TDM will need to retain hard copies of their responses to the challenge questions, and of performance objectives they have had signed off and therefore achieved, as ACCA may require to view these for monitoring purposes.

Annual return

To track trainee development in the workplace and their progress against the performance objectives, ACCA has introduced an annual reporting requirement for all trainees. This means that in the last quarter of each year, trainees will need to declare which performance objectives they have achieved in that calendar year and also how long they have worked in relevant roles. Trainees can also record if they have not found relevant work experience and if they have been studying.

The annual return can be made online through the TDM, or by paper, and allows ACCA to compile a transcript of PER achievement which will accompany the exam transcript.

Trainees working for ACCA gold and platinum Approved Employers will not be required to use the TDM, unless they or their employers prefer to retain this route. However, this group of trainees must still make an annual return to ACCA.

ACCA will continue to recognise work experience gained before, during or after completing the ACCA exams, but strongly recommends that work experience is gained alongside or soon after completing the exams.

Workplace mentors

Trainees will need a workplace mentor to support their development and review their progress and achievements at work. The mentor, alongside the trainee, will be responsible for:

• selecting which performance objectives trainees should work towards achieving
• setting targets in terms of performance and timescales
• providing access to appropriate work experience and supporting trainees' development
• evaluating and reviewing a trainee's progress on a regular and ongoing basis.

Trainees will advise ACCA who is in charge of signing off their PER and acting as their mentor. It could be their line manager, their mentor or another individual. Wherever possible, a mentor should be a qualified accountant. Comprehensive online guidance will be provided - free of charge - to workplace mentors to ensure they are adequately prepared for the role.

Monitoring

ACCA will be increasing its audit and monitoring of trainees' workplace achievement. Non-completion of the annual reporting requirement, lack of recording, and continued non-achievement of performance objectives (where the trainee is in a relevant role), will be among the factors taken into account when selecting trainee records for review. Trainees' online TDM or paper-based records will be subject to the same levels of monitoring.

Conversion arrangements

The new practical experience requirements was introduced in January 2007. Any new students registering on the ACCA Qualification from January 2007 will need to complete the new practical experience requirements. All existing students and affiliates will be required to convert to the new practical experience requirements by 31 December 2007.

Whereas conversion to the new exam syllabus happens automatically for active students in mid-August 2007, students and affiliates will need to convert any competences they have achieved under the current STR to its equivalent under the new system. No student will be disadvantaged by the conversion arrangements or will have to repeat work experience already achieved.

ACCA will accept membership applications based on the current STRs up until 30 June 2008.

From accounting link magazine