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ACCA practical experience for professional level

ACCA practical experience for professional level

ACCA practical experience for professional 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 professional level

An essential part of becoming an ACCA member is fulfilling the 36 months’ Practical Experience Requirement (PER).

Where can I work?

ACCA trainees can work in any sector and size of organisation. You do not have to work for an employer approved by ACCA.

What is important is to look for the opportunities to help you meet your PER and to obtain a total of 36 months’ experience in a relevant role or roles. It is also important that your work is appropriately supervised and that the time you complete towards your 36 months’ experience is signed off by your practical experience supervisor.

What are relevant roles?ssional level

Ideally, this means that you have a job where the majority of your time is spent on activities and tasks that are accounting, finance, audit and assurance related, or in other related technical areas such as taxation, insolvency and forensics.

Experience can be gained prior to registering with ACCA, while you are studying for the exams and/or after you have completed the exams. However remember that you will still need to get this prior experience signed off by a practical experience supervisor at the employer where you gained the experience.

ACCA practical experience for professional level

Part-time work and pro rata experience

You can gain your PER working on a part-time basis or in a role where your job includes only some accountancy and finance work.

When you record your employment details in My Experience you will be asked to provide details about your role, including the number of hours you work and the percentage of your time spent on accounting or finance related tasks. This will allow us to calculate the amount of time you can count towards the 36 months’ requirement.

For example, if only a quarter of your working time during the year (equivalent to three months) is spent in an accounting capacity, you may only claim three months – not 12 – as relevant time. This will mean that it will take you more than three years to achieve the relevant experience.

ACCA practical experience for professional level

Changing roles

Your experience doesn’t have to be gained in a single role or one continuous period. You can gain your experience in different roles and with different employers. It is important to ensure that your online PER record is updated and that your practical experience supervisor has signed off any performance objectives you have achieved when you change roles.

If you are employed by an Approved Employer where you are claiming the performance objective exemption and you are planning on leaving, you must complete the Approved Employer PER Confirmation form. This form will be available to download in My Experience once you end your Approved Employer role.

Please forward a copy of your signed-off Approved Employer PER Confirmation form to ACCA and we will update your PER record to reflect the performance objectives you have achieved. Please keep the original for your own record.

You will then need to achieve the balance of your time in a relevant role and performance objectives with a new employer.

ACCA practical experience for professional 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.

ACCA practical experience for professional level

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