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ACCA practical experience for foundation level

ACCA practical experience for foundation level

ACCA practical experience for foundation level:Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA or FCCA). From June 2016, ACCA recorded that it has 188,000 members and 480,000 students in 178 countries. ACCA’s headquarters are in London with principal administrative office in Glasgow. ACCA works through a network of 100 offices and centres and more than 7,100 Approved Employers worldwide, who provide employee development.

The term ‘Chartered’ in ACCA qualification refers to the Royal Charter granted in 1974.

Chartered Certified Accountant is a legally protected term. Individuals who describe themselves as Chartered Certified Accountants must be members of ACCA and if they carry out public practice engagements, must comply with additional regulations such as holding a practising certificate, carrying liability insurance and submitting to inspections.

The Association of Authorised Public Accountants (AAPA), one of the British professional bodies for public accountants, has been a subsidiary of ACCA since 1996.ACCA works in the public interest, assuring that its members are appropriately regulated. It promotes principles-based regulation. ACCA actively seeks to enhance the value of accounting in society through international research. It takes progressive stances on global issues to ensure accountancy as a profession continues to grow in reputation and influence.

ACCA practical experience for foundation level

THE FPER (FOUNDATIONS PRACTICAL EXPERIENCE REQUIREMENT)

Before you can become a Certified Accounting Technician, you must:

  • pass or be exempt from the CAT exams
  • complete the Foundations in Professionalism (FiP) module, and
  • meet the FPER (Foundations Practical Experience Requirement).

You can read more about FPER and what is expected of you on this page.

Supporting guides are also available to download from the ‘Additional information and support’ section below.

ACCA practical experience for foundation level

What is the FPER?

As part of the Certified Accounting Technician qualification, you need to demonstrate that you can apply your skills and knowledge within the workplace.

The FPER programme is designed to help you:

  • apply and develop the knowledge, skills and behaviours you have learned through the exams
  • develop your judgement
  • assess the quality of your work, and
  • improve your work performance.

Working for an Approved Employer

If you work for an ACCA Approved Employer who holds Certified Accounting Technician (CAT) trainee development approval at Gold or Platinum level, they may allow you to claim a performance objective exemption. This means that you do not need to document completing the performance objectives in My Experience.

However, it is important to confirm whether they want to allow you to claim the performance objectives exemption and that your employer has the necessary level of approval.

If you qualify for the exemption, you will still need to achieve 12 months’ experience and record this in My Experience.

ACCA practical experience for foundation level

What you need to do to complete the FPER?

FPER (Foundations in Practical Experience Requirement) must be completed by all students who have registered for CAT.

To gain CAT holder status students need to:

  • gain 12 months’ relevant practical experience
  • appoint a practical experience supervisor to supervise your work
  • record your experience in your FPER My Experience recording tool, and
  • achieve eight performance objectives, consisting of two Essentials and six Technical.

Benefits to you Not only will you gain personal satisfaction in seeing the results of your involvement through the improved skills and performance of your trainee, but by becoming a practical experience supervisor you are sending out a clear message to employees that you are committed to their support and development. Supporting trainees in this way can also lead to better recruitment, retention and development of staff for your organisation. In addition if you are an ACCA member any new skills you gain in order to undertake your supervisor role may contribute towards your continuing professional development (CPD).

ACCA practical experience for foundation level

ACCA stands for the Association of Chartered Certified Accountants a leading international accountancy body. The ACCA qualification is recognised and is treated in other countries as being equivalent to their local qualification.

brief history of ACCA:

ACCA traces its origin to 1904, when eight people formed the London Association of Accountants to allow more open access to the profession than was available through the accounting bodies at the time, notably the Institute of Chartered Accountants in England and Wales and the Institute of Chartered Accountants of Scotland. As of 2006, the goal of ACCA is to become the world’s largest global professional body.

The term ‘Chartered’ in ACCA qualification refers to the Royal Charter granted in 1974.

Chartered Certified Accountant is a legally protected term. Individuals who describe themselves as Chartered Certified Accountants must be members of ACCA and if they carry out public practice engagements, must comply with additional regulations such as holding a practising certificate, carrying liability insurance and submitting to inspections.

The Association of Authorised Public Accountants (AAPA), one of the British professional bodies for public accountants, has been a subsidiary of ACCA since 1996.

ACCA works in the public interest, assuring that its members are appropriately regulated. It promotes principles-based regulation. ACCA actively seeks to enhance the value of accounting in society through international research. It takes progressive stances on global issues to ensure accountancy as a profession continues to grow in reputation and influence.

ACCA practical experience for foundation level

For more information on ACCA please follow this Visit cakart.in

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