Acca Per

Topics: Management, Management accounting, Finance Pages: 20 (6164 words) Published: December 29, 2012
Performance objectives are benchmarks of effective performance that describe the types of work activities students and affiliates will be involved in as trainee accountants. They also outline the values and attitudes trainees should demonstrate as they fulfil their practical experience requirements. Trainees are required to achieve 13 performance objectives in total – all nine Essentials performance objectives and any four Options performance objectives. Performance objectives are divided into nine areas which are closely linked to the exam syllabus – reinforcing that any knowledge developed through the exams process will have a clear application in the workplace. Each trainee is required to plan with their workplace mentor which performance objectives they aim to achieve. This process will help both to identify which performance objectives the trainee can realistically achieve in their current role. Trainees should consider: • their role – they can complete a role profile using the trainee development matrix (TDM) which can be accessed through myACCA • their responsibilities • opportunities for gaining experience • which exams they have passed or are currently studying. As an employer or workplace mentor, you should encourage trainees to think about ways they can achieve performance objectives and provide opportunities for them to do this eg secondments or job rotations, project work, or learning and undertaking new responsibilities. These types of activities will help the trainee to meet ACCA’s practical experience requirements and benefit the organisation in which they work. Once the workplace mentor and the trainee have identified which performance objectives the trainee is going to achieve, the trainee will need to complete a period of work where they are gaining experience and developing their skills. The workplace mentor and the trainee will then need to review this experience. Using the trainee development matrix (TDM) trainees will need to answer a series of challenge questions that relate to the performance objective they are working towards achieving. Workplace mentors will need to review and sign-off the performance objective if the trainee has achieved it or alternatively, provide further guidance on what future activity needs to be completed. The table opposite outlines the performance objectives. Detailed information to guide trainees on each performance objective is contained within this booklet.

Performance objectives
ESSENTIALS (all nine to be completed) Professionalism, ethics and governance 1 Demonstrate the application of professional ethics, values and judgement 2 Contribute to the effective governance of an organisation 3 Raise awareness of non-financial risk Personal effectiveness 4 Manage self 5 Communicate effectively 6 Use information and communications technology Business management 7 Manage on-going activities in your area of responsibility 8 Improve departmental performance 9 Manage an assignment oPTIoNS (four to be completed) Financial accounting and reporting 10 Prepare financial statements for external purposes 11 Interpret financial transactions and financial statements Performance measurement and management accounting 12 Prepare financial information for management 13 Contribute to budget planning and production 14 Monitor and control budgets Finance and financial management 15 Evaluate potential business/investment opportunities and the required finance options 16 Manage cash using active cash management and treasury systems Audit and assurance 17 Prepare for and collect evidence for audit 18 Evaluate and report on audit Taxation 19 Evaluate and compute taxes payable 20 Assist with tax planning

demonstrate the application of professional ethics, values and judgement

You must be fully aware of the ethics, values and standards that apply to you as a professional and make their application a consistent feature in all aspects of your work. This will include taking personal...
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