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I was like you all after passing my last exam in march. I didn’t know where to start or what to write.
I have now completed 6 with the help of my manager. (as in giving me criticism and advising what else can be done to complete the objective)
What I did was write a statement answering the description and also giving 3 or 4 examples which help cover the elements.
I was on usually 500-600 words so then had to cut it down to 300 words.
first one is always the toughest
Hi all,
I hope you are all well,
I am a South African and i have spent 3 years completing accounting articles locally at a Medium sized firm, in the three years of articles i was mainly completing audits( From planning to finalization and working on taxes for individuals trusts and Companies.
I know i have met the performance objectives related to the papers on Audit and tax, however i would prefer to complete P4 and P5 instead of 6&7. my articles did expose me to matters relating to financial management and we went on additional courses to gain further insights on this topic, however my core competence will be in tax and audit.
Can i still use tax and audit objectives to qualify without completing the tax and audit paper?
Your help will be appreciated
@siyaj
said:
Hi all,I hope you are all well,
I am a South African and i have spent 3 years completing accounting articles locally at a Medium sized firm, in the three years of articles i was mainly completing audits( From planning to finalization and working on taxes for individuals trusts and Companies.
I know i have met the performance objectives related to the papers on Audit and tax, however i would prefer to complete P4 and P5 instead of 6&7. my articles did expose me to matters relating to financial management and we went on additional courses to gain further insights on this topic, however my core competence will be in tax and audit.
Can i still use tax and audit objectives to qualify without completing the tax and audit paper?
Your help will be appreciated
There is no link between which exams you do and which PER objectives you do. You can do any combination.
Does anyone know how long ACCA take to respond once your supervisor confirms and PER objective?
I did my essentials. Tried to figure out whether to do a short example for each element or longer examples covering most but not all – on the basis my manager would sign off the elements because I have demonstrated them, just not in the examples. Called ACCA and they confirmed the latter, as mentioned above by someone else.
I did two examples per objective, 100-150 words each. Using the STAR technique – Situation, Task, Action, Result. Have a look for example competency questions and answers. I found I hit about four of the five elements in two examples.
My manager signed off the first few, waiting on two more. He made suggestions to add things and that’s possible until approved when it’s locked. Fingers crossed ACCA are happy if I get audited on qualifying. It’s strange there is no formal guidance or examples provided by ACCA.
Hi,
Will people from ACCA read the text of objectives that have been approved by supervisor? If ACCA can refuse to accept the approved objectives for PER?Sample answers by ACCA to PERs:
https://www.accaglobal.com/content/dam/acca/global/PDFstudents/acca/per/per_challenge.pdfor just google “PER answering challenge questions”
Now I have become a member I am prepared to post an example of a PER statement. This is for PER objective 6 (Record and process transactions and events).
Bear in mind that ACCA has just tweaked the PER: adding 2 new objectives, adding references to digital skills and increasing the maximum word limit from 300 to 500 words. This statement was written and approved before this change.
Please do not just copy and paste this statement into your own PER. It is a guideline only and your PER should reflect your own experience. I don’t claim this is a ‘good’ statement or what ACCA is looking for. It is just what I wrote. I take no responsibility if you use elements of this statement and this later gets picked up on a PER audit.
My statement:
“During my time at (company) my team was responsible for the financial accounting and reporting of three business units – both the monthly financial accounting processes and quarterly and annual reporting for the units. Reporting was done under IFRS and we were also responsible for other reporting metrics.
As part of the team I performed a variety of daily, monthly and quarterly processes in order to perform the day-to-day financial accounting processes for the three business units. These duties included daily bank reconciliations and cash transfer requests, performing reconciliations, calculation and posting of accruals, conversion of foreign currency transactions and verifying accuracy of automated system generated journals. Many of the processes required me to produce and input accounting journals onto the general ledger system.
On a quarterly and annual basis I performed the financial reporting processes for one of the business units. This involved producing a summarised set of accounts and calculating and posting the required quarter end adjustments. I also had to calculate and post journals for estimated inter-company transfers between my business units and other business units, and then post adjustment journals once the final numbers were confirmed.
Throughout I had to be aware of financial accounting standards and our own policies, for example posting journals to recognise expenses in the period they were occurred rather than the period they were paid in.
Another part of my role involved reviewing the controls around key spreadsheets, checking the controls were operating effectively and reviewing any changes made by other members of the team.”
Right, I’ve just done a major clean up of this thread.
There were countless post of people saying nothing but “please send samples of your PER to my email address”. This was clogging up the thread and detracting from the discussion of the topic. No one is watching this thread waiting to email their PER to anyone who posts here. Such requests will go unanswered. I also suspect some of the accounts were not genuine students, but spammers or bots.
If you’re struggling with PER then please read this thread in full. If you actually read it, there is lots of good advice from different students, and 2 people have actually posted a sample in this thread! Now that the other posts have been deleted, this will be easier to see and read. If you’re struggling, perhaps you could have a go at creating a statement and then post it here and we could see how it could be improved. However, you need to remember that PER is specific to you as an individual.
If you have a genuine question about PER or you’re a qualified student who wants to post their examples then please do post it here, but any more posts begging for PER samples will be deleted.
The example from Chris is as far as I am aware, exactly what is needed as I have had all of mine signed off along similar lines. Just look at the objective, imagine someone asked you what do you do at work to achieve the objective and whatever you’d say to them, that is your answer.
If you check this link from the ACCA website, the examples are given for each objective. You can then give a situation according to which example you relate to.
@aadya said:
Hi Pawel,
Would it be possible for you to share a sample?ACCA provides sample of what is required online. It looks like by asking for somebody’s sample you are asking for a free ride.
Go to the ACCA website, read requirement and write 200 words. If not sure what to write about, click on each PER, it specifies what you need to achieve. Then start with sentence ‘in my position I have achieved this and this’ and then write an example of how you did it.Hie guys. can someone help me and share some sample on writing my PER statements .
Thanks a lot.I have recently submitted my PER for ‘Tax computations and assessments as my experience in doing VAT returns.’
My supervisor (who’s chartered with ICAEW) questioned if experience in VAT is enough to fulfil the objective as he thought it was more personal/corporation tax related.
I have contacted ACCA and learnt that they don’t advise on the PER and it’s up to the supervisor to decide.
Am I wrong thinking that VAT is a tax and doing vat returns gives you experience is Tax computations and assessments??
Any advice would be much appreciated, thank you.Referring to your question whether VAT qualifies for PER as tax, I can say yes because:
– had similar situation with my ICAEW qualified mentor and we agreed that
A. Vat is a tax indeed
B. It involves computation and assessment
C. It is part of your experienceOne could argue that broad topic as such should cover in fact all three starting from VAT to CT and Personal Tax Returns and maybe even CIS, but, in my understanding, even if you have experience in all of the above, 500 words simply won’t be enough to use as examples of work performed.
Also, depending on your role and duration of employment, just bear in mind that 3 years in general will likely have you exposed to number of taxes and you won’t need to amend what you have already submitted back then. The point is, that you actually state how you have achieved objective without worrying that it will be expanded in the future to new areas such as CT etc.
As long as your mentor is satisfied with your current achievement and that you understand the methodology, neccessary evidence and apply regulations that is what you have learned from and can export such skills and apply in other areas if necessary.
I would in fact gently hint them that although VAT is sufficient, you could only benefit from additional taxes exposure, surely January must have plenty of opportunities within,Best of luck!
Kim Smith wrote:See the post from Chris above:
Could you please provide the link
Chris’s post is on this page (so there is no link) – about 10 posts before yours – May 8, 2019 at 4:41 pm
Chris wrote:Now I have become a member I am prepared to post an example of a PER statement. This is for PER objective 6 (Record and process transactions and events).
What do you mean by a PER audit?
See the moderator’s post October 12, 2018 at 3:18 pm on this page: https://opentuition.com/topic/acca-per-5
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