Experience is one of the three main components of the ACCA qualification. The other two components are exams and ethics. ACCA members must demonstrate their competence in ten broad competency areas, appropriate for the Complete Finance Professional. To demonstrate their competence, students must complete nine performance objectives which must be verified by an IFAC qualified practical experience supervisor. All five Essentials performance objectives must all be completed plus a further four Technical performance objectives from a choice of 15.
The demonstration of the achievement of these objectives are recorded using an online tool called MyExperience.
PO3 Strategy and innovation
You contribute to the wider business strategy of your organisation through your personal and team objectives. You identify innovative ways to improve organisational performance – which may include making or recommending business process changes and improvements.
PO5 Leadership and managment
You manage yourself and your resources effectively and responsibly. You contribute to the leadership and management of your organisation – delivering what’s needed by stakeholders and the business.
PO6 Record and process transactions and events
You use the right accounting treatments for transactions and events. These should be both historical and prospective – and include non-routine transactions.
PO11 Identify and manage financial risk
You identify, measure, and advise on the financial risks to the organisation.
PO12 Evaluate management accounting systems
You apply different management accounting techniques in different business contexts to effectively manage and use resources.
PO13 Plan and control performance
You plan business activities and control performance, making recommendations for improvement.
PO15 Tax computations and assessments
You prepare computations of taxable amounts and tax liabilities according to legal requirements
PO20 Review and report on the findings of an audit
You complete an audit, preparing the formal documentation and reporting any control deficiencies to management. You report back to managers in a formal audit report.