The Practical Experience Requirement (PER) is an essential component of the Association of Chartered Certified Accountants (ACCA) qualification program, designed to complement the theoretical knowledge gained through academic studies with practical experience in real-world accounting and finance roles. The PER aims to develop candidates’ professional skills, competencies, and judgment, ensuring they are well-prepared to meet the demands of the accounting profession and make meaningful contributions to their organizations.
The PER serves as a bridge between academic learning and professional practice, providing candidates with hands-on experience in areas such as financial reporting, management accounting, audit and assurance, taxation, and financial management. By gaining practical experience in these core areas, candidates develop a deeper understanding of accounting principles, regulations, and best practices, as well as the ability to apply them in diverse business contexts.
To fulfil the PER, ACCA candidates are required to complete a minimum of three years of relevant work experience under the supervision of a qualified mentor. The work experience must be gained in roles that are relevant to the ACCA qualification and cover a range of technical and soft skills essential for success in the accounting profession.
During the PER, candidates are expected to demonstrate competency in key areas identified by the ACCA, including technical skills, professional skills, and ethical behaviour. Technical skills encompass proficiency in accounting and finance concepts, financial analysis, and reporting standards, while professional skills include communication, teamwork, leadership, and problem-solving.
Ethical behaviour is a fundamental aspect of the PER, as candidates are expected to adhere to the highest standards of integrity, honesty, and professionalism in their work. Ethical dilemmas may arise in various scenarios, and candidates must demonstrate the ability to identify, assess, and resolve such dilemmas in accordance with ethical principles and professional standards.
Throughout the PER, candidates are supported by a qualified mentor who provides guidance, feedback, and supervision to help them develop their skills and competencies. The mentor plays a crucial role in shaping candidates’ professional development, providing valuable insights, advice, and support as they progress through their practical experience journey. To ensure the quality and relevance of the practical experience gained, the ACCA has established specific requirements and guidelines for PER employers and mentors. Employers must be approved by the ACCA and offer roles that provide opportunities for candidates to develop the necessary skills and competencies outlined in the PER framework.
Mentors, on the other hand, must be qualified accountants with relevant experience and expertise in the candidate’s chosen field of specialization. Mentors are responsible for overseeing candidates’ work, providing constructive feedback, and guiding them through their professional development journey. In addition to gaining practical experience in the workplace, candidates are required to document their experience and progress in a PER portfolio, which serves as evidence of their competency and readiness to become fully qualified ACCA members. The portfolio includes reflections on key learning experiences, examples of work completed, and feedback from mentors and supervisors.
Once candidates have completed the required three years of practical experience and met all other ACCA qualification requirements, they are eligible to apply for ACCA membership and become fully qualified chartered certified accountants. ACCA membership signifies the attainment of a high level of professional competence and ethical integrity, as well as a commitment to lifelong learning and continuous professional development.
The Practical Experience Requirement is a vital component of the ACCA qualification program, providing candidates with the opportunity to gain hands-on experience in real-world accounting and finance roles. Through practical experience, candidates develop the skills, competencies, and judgment necessary to excel in the accounting profession and make meaningful contributions to their organizations. With the support of qualified mentors and employers, candidates are able to navigate the challenges and opportunities of their professional development journey and emerge as fully qualified ACCA members ready to embark on successful careers in accounting and finance.
