Student Training Record
ACCA is committed to ensuring that all members are equipped with the skills demanded by the current and future workplace, through a process of lifelong learning. Once qualified, ACCA members should continue to update their range of experience and technical knowledge throughout their careers. In order to become Chartered Certified Accountants, ACCA students must obtain a period of supervised relevant practical experience and achieve competence in a range of skills and activities, in addition to completing the ACCA exams. Students must record their achievement of workplace experience and skills in this Student Training Record (STR). The STR explains ACCA’s practical training requirements and how to document the work experience. It also contains all the forms that students and their Supervisor(s) need to complete. The STR is primarily designed to help students focus on the development of technical and management skills that will enable them to meet ACCA’s practical experience requirements for membership. The completion and review of the STR may also assist employers by encouraging students to consider how they can make greater and more effective contributions to the achievement of organisational goals. Students must provide the completed STR to ACCA if requested to do so.
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Student Training Record
Contents Guidance Notes PAGE 4
Practical Experience
PAGE 5
Completing and Reviewing the STR
PAGE 7
STR Audits
PAGE 8
ACCA Approved Training Practices
PAGE 8
Work Permitted Outside Approved Training
PAGE 9
Applying for Membership
PAGE 10
Frequently Asked Questions Membership Competences
PAGE 14
Membership Competences (including overviews of the Performance Criteria and Examples of how the elements of competence may be achieved)
Student Training Record
PAGE 3
Practical Experience To become Chartered Certified
Technical elements of competence
HOW DO STUDENTS ACHIEVE AN
Accountants, students must:
have been identified as Key. These are
ELEMENT OF COMPETENCE?
• pass the examinations
important technical skills in which
Competence is the ability to perform
• obtain a minimum of three years’
training is encouraged. The elements
an activity to a set standard within the
supervised relevant practical
of competence set out in Key Area 9
workplace. Students achieve an
experience
are Management elements. Some
element of competence if they meet
Management elements of competence
the Performance Criteria associated
are Mandatory. These cover
with the element of competence
communication and interpersonal
without close supervision or regular
Training Record (STR) and provide
skills, ethics, and professional
instruction from their Supervisor.
the completed STR to ACCA if
development.
• satisfy the minimum competence requirements • record their experience in a Student
WHO CAN ACT AS SUPERVISOR?
requested to do so. HOW MANY ELEMENTS OF
Wherever possible the Supervisor
WHY IS PRACTICAL EXPERIENCE
COMPETENCE DO STUDENTS HAVE
should be a line manager or partner
IMPORTANT?
TO ACHIEVE?
who is:
Students must be able to demonstrate
To satisfy ACCA’s minimum
competence in a wide range of
competence requirements for
technical, management and personal
membership, students must achieve at
skills required by the modern
least 16 elements of competence,
professional accountant. ACCA’s
including:
examinations provide students with the knowledge and understanding
• a qualified Chartered Certified Accountant; or • a member of an accountancy or auditing body recognised by law in the country of employment.
• at least 12 Technical elements of
which underpins competent
competence, including a minimum
The Supervisor should regularly review
performance in the workplace.
of 6 Key Technical elements of
the students’ work to check that they
competence which must be taken
are meeting the practical experience
from at least 2 Key Areas
requirements. They are also
WHAT ARE ELEMENTS OF COMPETENCE? ACCA has identified 9 Key Areas that
• all 4 Mandatory Management elements of competence.
cover a range of technical and
responsible for judging whether students have achieved an element of competence.
management functions. Within each of
WHAT ARE THE STANDARDS SET
these Key Areas, specific elements of
FOR EACH ELEMENT OF
Please refer to page 11 for additional
competence have been defined. Each
COMPETENCE?
guidance on who can act as
element of competence relates to a
Each element of competence is
Supervisor.
specific skill, task or area of
underpinned by Performance Criteria
responsibility that may be
that describe the standards expected.
demonstrated by a Chartered Certified
Overviews of the Performance Criteria
Accountant in the workplace.
are listed on pages 14 to 28. Examples are also provided which
There are 68 Membership
illustrate the tasks and activities that
Competences and they are listed on
students might undertake in order to
pages 14 to 28. The elements of
achieve an element of competence.
competence set out in Key Areas 1 to 8 are Technical elements. Some
PAGE 4
Student Training Record
Completing and Reviewing the STR The STR is comprised of three forms:
should note that maintaining a diary is optional. Their diaries will not be
• Employment History
reviewed by ACCA.
• STR1 Records • STR2 Summary of Competences. The STR forms are designed to enable students to record evidence of their practical experience and have this experience verified by their Supervisor. Templates of each STR form are provided in a separate booklet. You should retain these templates and photocopy them as required. Copies of the STR forms can also be downloaded from ACCA’s website at www.accaglobal.com. Examples of completed STR1 Records are also provided in the booklet. Students are recommended to keep a diary of their practical experience and update it on a regular basis e.g. monthly. This will help them to complete the STR1 Records. The diary may be documented in any form. A suggestion of how the diary could be structured is shown below. Students
SUGGESTED DIARY PAGE Date/ Frequency
Tasks undertaken and main areas of responsibility
Elements covered
Monthly
Collated stock sheets, calculated usage ratios, analysed major
Element 3K
variances, discussed with stores managers and produced report April 2001
Prepared report on suppliers’ prices for all consumables, investigated
Element 13
new suppliers, prepared report to management on availability of alternative suppliers and bulk discounts. Discussed report with purchasing department.
Student Training Record
PAGE 5
Completing and Reviewing the STR (continued)
EMPLOYMENT HISTORY (completed by the student) Complete the Employment History giving details about the
The Employment History should be completed each time the
period of employment, the employer’s name and address and
student changes employer.
the nature of the business. When changing employer, confirm that STR1 Records and the STR2 Summary of Competences have been completed and reviewed to cover the period of employment. STR1 RECORD (completed by the student) Complete the header section giving details about the student,
STR1 Records should be completed at least annually (or every
employer, supervisor and the period covered.
six months if the student works in an ACCA Approved Training Practice) and additionally when the student changes jobs or
Describe the work experience undertaken in the Summary of
leaves an organisation.
Work Undertaken and Responsibilities section. Cross-reference the skills and activities described to the elements of
The student should ensure that sufficient detail is given in the
competence.
narrative to support the elements of competence listed.
Sign each STR1 Record. STR1 RECORD (completed by the Supervisor) Review the work experience the student has listed in the
STR1 Records should be reviewed by the Supervisor at least
Summary of Work Undertaken and Responsibilities section.
annually (or every six months in the case of an ACCA Approved
Ensure the skills and activities have been cross-referenced to the
Training Practice) and additionally when the student changes
appropriate elements of competence.
jobs or leaves an organisation.
Evaluate the student’s performance against the Performance
The review is used to monitor the student’s performance;
Criteria set for each element of competence listed. Indicate the
identify areas in which the student needs further experience in
areas in which the student has achieved competence by
order to meet ACCA’s minimum competence requirements for
completing the relevant column in the Summary of Work
membership; and plan the student’s future development.
Undertaken and Responsibilities section.
Copies of the organisation’s own internal appraisal documentation may be attached to this section, provided that it
Use the ‘Comments’ column to highlight strengths, weaknesses
addresses the achievement of elements of competence.
and future work experience and development requirements. Sign each STR1 Record.
PAGE 6
Student Training Record
Completing and Reviewing the STR (continued)
STR2 SUMMARY OF COMPETENCES (completed by the Supervisor) Sign the STR2 Summary of Competences when the student has
The STR2 Summary of Competences should be reviewed by the
achieved an element of competence.
Supervisor at least annually (or every six months in the case of an ACCA Approved Training Practice) and additionally when the
Cross-reference the STR2 Summary of Competences to the
student changes jobs or leaves an organisation.
STR1 Record that evidences the achievement of the element of competence.
Students will achieve an element of competence if they have met the Performance Criteria associated with that element without close supervision or regular instruction.
Further information about practical
STR AUDITS
experience, the completion and review
ACCA reviews a significant number of STRs to ensure that they have been completed
of the STR, and the role of the
correctly and provide an accurate picture of students’ work experience. Students will
Supervisor, is available within the
be notified if their STR has been selected as part of this review and required to send
Frequently Asked Questions section.
in copies of their STR1 Records and STR2 Summary of Competences. An ACCA
Alternatively, please refer to the
Training Consultant will then provide appropriate feedback.
contacts listed at the back of this booklet for advice.
Student Training Record
PAGE 7
ACCA Approved Training Practices An ACCA Approved Training Practice is
membership training towards an ACCA
a firm of accountants that is registered
practising certificate or an ACCA
reviews, comment on experience
with ACCA to train students and
practising certificate and audit
and sign off the STR1 Records and
members towards an ACCA practising
qualification.
the STR2 Summary of
certificate, which is valid in any
• a qualified manager may undertake
Competences if there is no
country, or an ACCA practising
If students work in an ACCA Approved
nominated Principal sufficiently
certificate and audit qualification
Training Practice, special instructions
familiar with a student’s work to
which is valid in the UK (including
apply to completing the STR:
undertake these activities.
Jersey, Guernsey and the Isle of Man), Republic of Ireland, Cyprus and Zimbabwe. Students who work in an ACCA
However, the STR1 Records and • an STR1 Record must be
STR2 Summary of Competences
completed and reviewed every six
must be countersigned by a
months;
Principal, if the pre-membership
• the Supervisor should be a suitably
experience is to contribute towards
Approved Training Practice can count
qualified accountant nominated by
an ACCA practising certificate or an
up to 12 months of their pre-
the firm to act as Principal;
ACCA practising certificate and audit qualification.
Work Permitted Outside Approved Training ACCA students and affiliates may not
• payroll
Accountants, The Chartered
claim to be members of ACCA or
• VAT (applies in the UK only).
Institute of Public Finance and Accountancy; or
undertake work within the definition of public practice. ACCA students and
Students/affiliates may provide such
affiliates may not be partners or
services either in a self-employed
professional accountancy
directors of a firm that undertakes
capacity or as an employee. However,
qualification which confers the
public practice work. They may
the provision of these services directly
right to practise in their country of
undertake work outside this definition,
to the public cannot constitute
residence.
provided that they do not refer to their
‘approved accountancy experience’ for
status as a student or potential
the purpose of obtaining ACCA
Further information about the work
member of ACCA.
membership.
permitted outside approved training is
• is resident overseas and holds a
available on ACCA’s website at The work that may be undertaken is
The above rules do not apply if the
www.accaglobal.com. Alternatively,
basic bookkeeping which is defined
student/affiliate:
please contact ACCA Connect.
as: • is a practising certificate holder • the recording of basic accounting
and member of one of the UK or
data up to and including the
Irish Institutes of Chartered
preparation of accounting records
Accountants, The Chartered
to trial balance stage
Institute of Management
PAGE 8
Student Training Record
Applying for Membership When students have completed the examinations, they will automatically receive a form entitled ‘Transfer to ACCA Membership or ACCA Affiliate Status’. This form must be completed and returned in all circumstances. Successful finalists can either apply for full membership of ACCA, if they have obtained a minimum of three years’ supervised relevant practical experience and satisfied the minimum competence requirements, or apply for ACCA affiliate status. Affiliate certificates are issued by ACCA only on receipt of a completed form.
Frequently Asked Questions PRACTICAL EXPERIENCE
soon as possible after registration as
Do I have to work for an organisation
When can I gain my practical
an ACCA student, as it will be easier
that has been approved by ACCA?
experience?
to recall this experience, and have it
No. You do not need to obtain your
You can gain your practical experience
verified by your current/previous
practical experience for membership in
before, during or after completion of
Supervisor.
an organisation that has been
the examinations. There is no time
approved by ACCA. However, if you
limit to gaining practical experience
Does my experience have to be gained
work in an ACCA Approved Training
and applying for ACCA membership.
in a specific role or business sector?
Practice, up to 12 months of your pre-
The 10 year time limit only applies to
No. You may use any experience
membership training can count
completing the examinations.
gained in any accounting or
towards the practical training
accounting-related role, provided that
requirement for an ACCA practising
Can I use experience gained before I
it contributes to the achievement of
certificate, which is valid in any
registered as an ACCA student
the minimum competence
country, or an ACCA practising
towards the practical experience
requirements. The experience may be
certificate and audit qualification
requirements for membership?
gained in any business sector or
which is valid in the UK (including
Yes, provided that the experience is
combination of sectors (e.g. public
Jersey, Guernsey and the Isle of Man),
supervised, relevant and can be
practice, industry and commerce or
Republic of Ireland, Cyprus and
verified. You should record your
the public sector).
Zimbabwe. Similarly, if you work in
previous experience in the STR as
Student Training Record
the corporate or public sectors, and
PAGE 9
Frequently Asked Questions (continued)
your employer has been granted
count towards the practical experience
listed so that your Supervisor is able to
Approved, Gold Approved or Platinum
requirements for membership on a
assess your competence against the
Approved accreditation status, up to
pro-rata basis. Therefore, wherever
set standards. Wherever possible, you
12 months of your pre-membership
possible, it is advisable to obtain full-
should avoid using jargon and
training can count towards the
time work experience1 that is relevant,
abbreviations that are not explained.
practical training requirement for an
supervised and meets the Membership
ACCA practising certificate.
Competences. 1
What if I work in a specialist area? ACCA will accept experience gained in a number of specialist areas (e.g. corporate recovery, corporate finance, banking, internal audit, forensic
As a guideline, ACCA considers fulltime work experience to be 35 hours per week. 1,540 hours of part-time work equates to one year of full-time work experience.
If I undertake certain tasks on a regular basis, over a long period of time, do I still need to describe them in every STR1 Record or can I just refer back to earlier STR1 Records? Each STR1 Record should stand alone as a summary of all the key aspects of
accounting), provided that you can
What if I am self-employed?
work undertaken in the period. You
demonstrate that you have satisfied
In order for work experience to count
should not refer back to earlier STR1
the minimum competence
towards the Professional Scheme
Records. However, where such tasks
requirements for ACCA membership.
practical experience requirements, it
are performed regularly, you may
must be supervised and verified by a
initially describe the task in detail, but
Can lecturing experience count?
suitably qualified person (see the
give a briefer, more general description
Yes, up to 12 months’ lecturing
section on supervisory issues). While
in later STR1 Records. You should try
experience can count towards the
Professional Scheme students can
to ensure that your records
practical experience requirements for
provide basic book-keeping and certain
demonstrate the progression in your
membership. The lecturing experience
other services direct to the public,
role, both in terms of your technical
must be at a level equivalent to Part 1
this cannot constitute ‘approved
ability and management skills.
of ACCA’s professional examinations
accountancy experience’ and therefore
and cover basic accounting, business
may not count towards the practical
Can my STR be completed
studies and finance-related subjects.
experience requirements for the ACCA
retrospectively?
qualification. However, basic book-
Although experience gained prior to
Can I use experience gained in a
keeping and other accountancy work
registration can be entered in the STR
part-time or temporary position?
undertaken under supervision (eg on a
retrospectively, you are strongly
Yes, provided that the work
sub-contract basis) may constitute
advised to document your work
experience is of a sufficient breadth
‘approved accountancy experience’.
experience on an ongoing basis and
and depth to contribute towards
arrange for your STR to be reviewed
achieving the minimum competence
COMPLETING THE STR
regularly. This will enable your
requirements. You may find that
How much detail do I need to put in
Supervisor to consider your work
experience gained in a part-time or
the STR?
experience, plan for your future
temporary position does not allow you
The description of your work
development, and ensure that you
to achieve many elements of
experience should be concise.
meet the practical experience
competence and may not provide you
However, it should still give a
requirements for membership.
with sufficient opportunities for career
sufficient explanation of the key skills
development. Also, work experience
and activities associated with each
gained on a part-time basis can only
element of competence that you have
PAGE 10
Student Training Record
Frequently Asked Questions (continued)
Can I use experience that I obtained
If your Supervisor is not a qualified
Competences are brought up-to-date
when I was studying for another
accountant, there may be another
and reviewed when you leave an
professional accountancy
individual within your organisation who
employer or change departments.
qualification?
holds a professional accountancy
Yes, provided that the experience is
qualification. If this person has
MEMBERSHIP AND POST-
supervised, relevant and can be
sufficient knowledge of your work,
MEMBERSHIP ISSUES
verified. Unfortunately, ACCA is unable
then they can review and verify your
I have passed my examinations.
to accept the training records of
STR1 Records and STR2 Summary of
Does that mean I am a member of
another professional accountancy body
Competences instead.
ACCA and can use the designatory letters ‘ACCA’ after my name?
because they are not based upon the achievement of our Membership
However, if there is no other qualified
No. You may only refer to yourself as
Competences. Therefore you will need
accountant within your organisation,
a member of ACCA, and use the
to record your previous experience in
ACCA will still accept STR forms that
designatory letters ‘ACCA’ after your
the STR as soon as possible after
have been verified by an unqualified
name, when you have been admitted
registration as an ACCA student and
Supervisor.
to full ACCA membership.
I work in an ACCA Approved Training
When you have passed the
Practice. Who should be my
examinations, you will be invited to
SUPERVISORY ISSUES
Supervisor?
transfer to ACCA membership or ACCA
I am the most senior member of
Ideally, your Supervisor should be a
affiliate status. If you have not yet
accounting staff in my organisation.
suitably qualified accountant
gained the necessary practical
Who should review my STR?
nominated by the firm to act as your
experience for membership, you
You should make arrangements for
Principal. A qualified manager may
should apply for ACCA affiliate status.
your organisation’s auditors or
review and verify your STR forms.
Affiliates are not members of ACCA
accountants to sign, or countersign,
However, the STR1 Records and
and they may not use the designatory
the STR1 Records and STR2
STR2 Summary of Competences must
letters ‘ACCA’ after their name. Once
Summary of Competences.
be countersigned by a Principal if your
you have satisfied the practical
have it verified by your previous Supervisor.
pre-membership work experience is to
training requirements for membership,
My Supervisor has no professional
contribute towards an ACCA practising
you may then apply for full ACCA
accountancy qualification, but has
certificate or an ACCA practising
membership.
considerable experience in finance.
certificate and audit qualification.
Can he/she verify my STR1 Records
When I have been admitted to full
and STR2 Summary of
Can my current Supervisor verify
ACCA membership, can I offer my
Competences?
experience gained at a previous
services directly to the public?
Wherever possible, your Supervisor
employer or in another department?
As an ACCA member you may provide
should be a line manager or partner
No. Your current Supervisor is only
payroll, VAT and basic book-keeping
who is:
responsible for verifying the experience
services; record basic accounting data;
• a qualified Chartered Certified
gained under his/her supervision and
and prepare accounting records to trial
the elements of competence
balance.
Accountant; or • a member of an accountancy or
demonstrated in your current role.
auditing body recognised by law in
You should ensure that your STR1
your country of employment.
Records and STR2 Summary of
Student Training Record
PAGE 11
Frequently Asked Questions (continued)
However, you are not permitted to
How do I obtain an ACCA practising
A practising certificate and audit
undertake work that falls within
certificate?
qualification is only available to
ACCA’s definition of public practice
To obtain a globally portable practising
members who, in addition to providing
unless you hold an appropriate
certificate, individuals must meet
general accountancy services, wish to
practising certificate. ACCA’s definition
ACCA’s practical training requirements
undertake audit work in the UK,
of public practice includes accepting
which are focused on experience
Republic of Ireland, Cyprus and
appointment as an auditor; signing or
gained after admission to membership.
Zimbabwe where ACCA has specific
producing any accounts, report or
Post-membership experience must be
legislative responsibilities to regulate
certificate or tax return, that a ‘third
recorded in a Practising Certificate
members providing audit services. The
party’ may place reliance on; or
Training Record and verified by an
practising certificate and audit
holding yourself out as being available
appropriately qualified individual – the
qualification may entitle members to
to undertake these activities.
Principal. Up to 12 months’ pre-
transfer the validity of their practising
membership experience can be
certificate to other countries (subject
What types of ACCA practising
counted towards the minimum three
to any local authorisation requirements
certificate are there?
years required for a practising
also being met). The audit
ACCA issues two types of practising
certificate and recorded in the Student
qualification is not generally
certificate: the ACCA practising
Training Record.
transferable.
Training for a practising certificate
Members with ACCA practising
certificate and the ACCA practising certificate and audit qualification.
must be gained in an organisation
certificates in countries other than the
The ACCA practising certificate allows
appropriately accredited by ACCA.
UK, Republic of Ireland and Zimbabwe
you to perform any activity constituting
Corporate and public sector
may carry out audit or other reserved
public practice, apart from accepting
organisations as well as public
work where authorised under local
work as an auditor .
practice firms can now provide such
legislation but ACCA will require proof
training. Public practice firms must be
of authorisation.
1
The ACCA practising certificate and
registered as Approved Training
audit qualification is only valid in the
Practices and corporate or public
Members in the UK and Republic of
UK (including Jersey, Guernsey and
sector organisations should be
Ireland must also sit and pass an
the Isle of Man), Republic of Ireland,
accredited at Approved level or above.
Orientation Course & Test.
allows you to perform any activity
Members who hold a licence to
Further information about the practical
constituting public practice, including
practise issued by a recognised local
training requirements for ACCA’s
work reserved for Registered Auditors.
body or authority may apply for a
practising certificates is available on
waiver of the practical training
ACCA’s website at
requirements to obtain an ACCA
www.accaglobal.com/members.
Cyprus and Zimbabwe. This certificate
1
In counties other than the UK and
Republic of Ireland, members holding
practising certificate. Where a waiver
an ACCA practising certificate may
is granted, however, the ACCA
What is the Orientation Course &
carry out audit work or other reserved
practising certificate awarded will be
Test?
work where authorised under local
valid only in the country where the
The Orientation Course & Test only
legislation but ACCA will require proof
local licence allows the member to
applies to members in the UK
of authorisation.
practise.
(including Jersey, Guernsey and the Isle of Man) and Republic of Ireland
PAGE 12
Student Training Record
Frequently Asked Questions (continued)
who wish to obtain an ACCA
In addition to attending the relevant
Are there any special requirements if
practising certificate or an ACCA
sections of the course, you are
I wish to become an Insolvency
practising certificate and audit
required to undergo an assessment
Practitioner?
qualification.
procedure which includes a pre-course
If you think that you will be moving
case study and a case study taken
into insolvency work in the UK and
under examination conditions during
Republic of Ireland, you will need to
the course. Both case studies are
be aware of the rules governing the
marked by qualified accountants and
issue of insolvency licences. Applicants
reviewed by an external assessor.
have to complete appropriate relevant
Once you have completed the practical training requirements for a practising certificate, you may apply to undertake an Orientation Course & Test. The objective of the course is to confirm your ability to practise as a Chartered Certified Accountant in the UK and Republic of Ireland. It also provides an assessment and enhancement of your skills and aptitudes before the award of a practising certificate. In particular, you are required to demonstrate that you are able to apply the technical and practical knowledge gained in your professional work to practical problems. There are two types of Orientation Course & Test: Audit and Practice. If you apply for an ACCA practising certificate and audit qualification you must pass an Audit Orientation Course & Test. If you apply for an ACCA practising certificate you must pass a Practice Orientation Course & Test. The Orientation Course & Tests are held during the course of a week, but you only attend for a maximum of 3 days. The courses include a variety of modules, such as practice management, professional
insolvency experience and pass the In order to satisfactorily complete the
examination of the Joint Insolvency
Orientation Course & Test, you must
Examination Board. Insolvency
score a minimum average mark of
licences are not, as a general rule,
50%, with a minimum mark for each
issued to members outside of the UK.
case study of 40%. Where the mark for either case study is below 40%,
Further information about Insolvency
you automatically fail the Orientation
licences is available on ACCA’s
Course & Test regardless of the mark
website at www.accaglobal.com.
for the other case study.
Alternatively please refer to the contact list at the back of this booklet
If you score an average mark between
for advice.
40%–50%, you are invited to an oral examination (usually a few weeks after the course) with a Panel of Assessors. If your average mark is below 40%, you fail the Orientation Course & Test and are ineligible to re-sit the same Course & Test for 12 months. Further information about the Orientation Course & Test is available on ACCA’s website at www.accaglobal.com/members.html or from Members’ Affairs at ACCA (see the inside of the back cover for contact details).
assignments, and the professional environment.
Student Training Record
PAGE 13
Membership Competences This section provides overviews of the
KEY AREA 1 FINANCIAL
accounting regulations and
performance criteria associated with
INFORMATION
guidelines
each element of competence and
• Provide supporting information
examples of how the elements of
UNIT A
competence may be achieved.
Prepare financial and other statements and accounts for external
The full set of Membership
Examples:
Overviews and detailed Performance
ELEMENT 1 K
Criteria) is available on ACCA’s
Appraise information for the
website at www.accaglobal.com.
preparation of financial and other
Hard copies are also available on
statements and accounts
request. To satisfy ACCA’s minimum
should:
competence requirements for
• Collect information for the
membership, students must achieve at
preparation of accounts, ensuring
least 16 elements of competence,
that it is complete and accurate
including:
• Ensure any estimates are
• at least 12 Technical elements of
• Investigate any unusual trends or
reasonable competence, including a minimum
variances, giving explanations
of 6 Key Technical elements of
where appropriate
and accounts • Prepare supporting schedules/notes to the accounts affairs • Prepare a prospectus for a public listing • Prepare a cover statement for a bank report UNIT B Prepare financial information for management ELEMENT 3 K
competence which must be taken
elements of competence.
• Prepare the financial statements
• Prepare an up-to-date statement of To gain competence in this area, you
• all 4 Mandatory Management
show an adverse financial position
purposes
Competences (including Unit
from at least 2 Key Areas
where appropriate • Identify whether or not the accounts
Examples:
Appraise financial information for the
• Maintain sales ledger, purchase
preparation of management
ledger, cash book and payroll
information
• Prepare bank and other Throughout this overview, Key
reconciliations
To gain competence in this area, you
Technical elements of competence
• Prepare the Trial Balance
should:
have been marked K and Mandatory
• Identify the assets and liabilities of
• Collect information for the
Management elements of competence
an organisation to form the basis of
preparation of accounts to meet
have been marked M.
a statement of affairs
management requirements • Investigate areas where there is
ELEMENT 2 K Prepare and present financial and other statements and accounts
doubt as to the completeness, accuracy and validity of information • Review variations between actual and anticipated major ratios, giving
To gain competence in this area, you
explanations where appropriate
should: • Prepare statements and accounts in
PAGE 14
Examples:
an appropriate format and in
• Prepare a schedule of fixed assets
accordance with relevant
• Analyse stock levels
Student Training Record
Membership Competences (continued)
• Analyse sales figures
Examples:
UNIT D
• Prepare graphs
• Ensure compliance with taxation
Assist in the development and
• Analyse trends
legislation, accounting standards,
• Obtain market, industry and
industry standards and regulations
implementation of accounting systems
organisational statistics for a share
or public sector regulations and
ELEMENT 7 K
valuation
instructions
Identify potential changes to an
• Monitor compliance with legislation ELEMENT 4 K
for buyouts, mergers and takeovers
Prepare and present financial information for management purposes To gain competence in this area, you
To gain competence in this area, you ELEMENT 6
should:
Provide support in meeting regulatory
• Review existing accounting systems
obligations
should: • Present information for management purposes • Provide any necessary supporting explanations
To gain competence in this area, you should: • Carry out the functions required to
any reasons for being unable to
• Prepare monthly management
perform certain executive functions,
reporting package
UNIT C Advise and support clients/
Examples: • Recommend changes/improvements to current accounting system ELEMENT 8
only)
Assist in the introduction of new/ changes to accounting systems
Examples: • Prepare minutes of meetings
To gain competence in this area, you
• Prepare documents for the issue of
should:
shares or debentures • Review/file Annual Returns
regulatory obligations
• Maintain statutory books • Prepare returns specific to the
ELEMENT 5 K
organisation for submission to the
Advise on relevant regulatory
appropriate authority e.g. pension
obligations
schemes, charities commission • For an insolvent organisation,
To gain competence in this area, you
ensure that creditors are paid in the
should:
appropriate order of priority
regulations that the organisation
and packages
accountant’s independenc (practice
management in meeting their
• Identify and monitor specific
• Identify potentially suitable systems
or other roles which impinge on the
• Prepare management information for buyouts, mergers and takeovers
in consultation with clients/users
meet regulatory obligations
Examples:
• Prepare monthly management
and discuss future requirements • Assess current and potential needs
• Be aware of and be able to explain
accounts
organisation’s accounting systems
• Implement a new system or changes to an existing system • Monitor the introduction of new/ changes to accounting systems and obtain feedback from users Examples • Introduce a new software package • Train staff and deal with any queries arising
• For an insolvent organisation, file all relevant statutory returns
must comply with • Offer advice which is consistent with the regulations
Student Training Record
PAGE 15
Membership Competences (continued)
ELEMENT 9
KEY AREA 2
Examples:
Assist in the evaluation of changes to
BUSINESS ANALYSIS AND
• Set up a system for benchmarking
accounting systems
MEASUREMENT
To gain competence in this area, you
UNIT A
should:
Assist in the planning and monitoring
and seasonal variations, using pre-
• Monitor changes to accounting
of business performance
set performance indicators
organisational performance against competitors’ activities • Train staff to identify sales trends
systems and provide on-going advice and support • Make recommendations for modifications to the system where
ELEMENT 10 K
ELEMENT 12 K
Assist in identifying financial
Assist in monitoring the achievement
objectives and performance measures
of financial performance and objectives
required To gain competence in this area, you Examples:
should:
To gain competence in this area, you
• Meet clients/users to obtain
• Gain an understanding of the
should:
feedback and offer support
overall business objectives and performance measures • Set performance measures and financial objectives
• Assess performance and inform management of the outcome • Diagnose problems in performance and give advice on how to solve them
Examples: • Identify key financial ratios that are to be used by the business to
• Report the results of monitoring and analysis to the client/management • Set new or amend existing business
assess performance e.g. return on
objectives/performance measures to
capital employed or debtors ratios
accommodate changes in
• Identify other relevant performance
circumstances
indicators Examples: ELEMENT 11 Assist in the introduction of systems and practices to plan and monitor financial performance
• Produce a report of achievement of monthly sales targets per region • Compare the achievement of objectives/margins/ratios/targets with expectations/previous periods/
To gain competence in this area, you should:
industry averages/benchmarks • Produce detailed variance analyses
• Agree the nature and scope of systems to measure and monitor
UNIT B
financial performance
Identify and analyse the costs
• Demonstrate the system to users
associated with products and services
and ensure that they understand it ELEMENT 13 Identify the cost of products and services
PAGE 16
Student Training Record
Membership Competences (continued)
To gain competence in this area, you should: • Identify both short term and long
products and services • Calculate and analyse differences between estimated and actual costs
term costs of products and services • Identify and contact potential suppliers • Maintain an awareness of market conditions as they affect supply
operates • Identify the funding required for business activities and relevant
Examples: • Prepare an illustration of how actual costs compare to estimated
sources of funding • Design spending plans/cash flow forecasts
costs • Prepare a report to management
Examples:
which explains any major cost
• Prepare costings of new raw
variances
materials or service contracts • Investigate alternative suppliers of
economic environment in which it
Examples: • Prepare spending proposals for the department’s activities • Prepare cash flow forecasts
ELEMENT 16 Make recommendations to reduce
ELEMENT 18 K
costs and enhance value
Agree budgets for activities
Identify the potential profitability of
To gain competence in this area, you
To gain competence in this area, you
products and services
should:
should:
• Follow up evaluations on the cost
• Negotiate budgets and resolve any
goods and services ELEMENT 14
To gain competence in this area, you
of products and services and their
should:
value to the organisation
• Calculate potential revenue from
• Give advice to improve profitability
products and services and estimate future profitability • Consider if the profitability of
Examples: • Make recommendations to discontinue an unprofitable product
organisation’s objectives and
line • Produce a report to management/ the client on potential cost
Examples: margins policies
Examples: • Attend meetings to discuss and agree budgets • Amend budgets to reflect the outcome of negotiations
reductions ELEMENT 19 K
• Prepare predictions of profit • Prepare information for price setting
those who are responsible for administering or controlling funds
products and services meets the strategies
outstanding issues • Communicate agreed budgets to
UNIT C
Monitor and report on budgets
Control expenditure and monitor budgets
To gain competence in this area, you should:
ELEMENT 15
ELEMENT 17 K
Calculate the actual costs of products
Prepare spending proposals and
and services
profiles
• Analyse variations between actual and budgeted figures • Report to management/the client on the variations identified, giving
To gain competence in this area, you
To gain competence in this area, you
adequate explanation and
should:
should:
interpretation of the data
• Identify the actual costs of
• Understand the business objectives
production and delivery for
Student Training Record
of the organisation and the
PAGE 17
Membership Competences (continued)
Examples:
KEY AREA 3
Examples:
• Prepare monthly variance analysis
TAXATION
• Correspond with the tax authorities
reports • Give explanations and make recommendations based on the
on routine or specific issues arising UNIT A
from the submission of tax
Compute tax payable
correspondence
analysis
• Agree final settlement of disputed ELEMENT 20 K Compute the tax payable by the client/organisation
tax position, including payment schedule and interest, if relevant • Attend VAT/PAYE investigations and liaise with the tax officer on the
To gain competence in this area, you
client’s/management’s behalf
should: • Collect the necessary data and make accurate calculations of
UNIT B Develop plans for tax liabilities
tax(es) payable • Prepare and submit the relevant tax returns
ELEMENT 22 Advise on tax liabilities and payments
• Ensure that calculations and returns conform to current legal
To gain competence in this area, you
requirements
should: • Provide oral or written advice to the
Examples:
client/management about their tax
• Prepare corporation tax
liabilities and payments
computations • Prepare income tax computations • Prepare PAYE/NI returns • Prepare VAT returns
• Respond to any queries resulting from the advice given • Ensure that the client/management fully understand the advice given
ELEMENT 21
Examples:
Negotiate with the tax authorities
• Inform the client/management of their tax liabilities and explain any
To gain competence in this area, you should: • Liase with the tax authorities on routine or specific tax enquiries
issues arising • Provide reminders of due dates for submission of tax returns/payment of tax liabilities
• Negotiate with the tax authorities on behalf of the client/management • Correspond in writing or conduct face to face negotiations with both the client/management and the tax authorities
PAGE 18
Student Training Record
Membership Competences (continued)
ELEMENT 23 K
KEY AREA 4
Examples:
Assist clients/management with tax
STATUTORY AUDIT
• Record and evaluate clients’
planning
systems using systems notes, flow UNIT A
charts, internal control
To gain competence in this area, you
Prepare for and control the statutory
questionnaires etc.
should:
audit process
• Have a working knowledge of the
• Design and carry out compliance tests
client’s/organisation’s business and
ELEMENT 24 K
its future plans
Determine the level of audit risk
ELEMENT 26 Co-ordinate the delivery of statutory
• Forecast the future tax payable and compare the potential cash
To gain competence in this area, you
requirements against the level of
should:
cash that is needed for the planned
• Obtain and evaluate information
audit evidence To gain competence in this area, you
about the business and its
should:
• Advise the client/management on
environment, including any work
• Plan and manage resources such as
ways to optimise the timing of
prepared by internal auditors and
people and time to enable the audit
activities/transactions to ensure the
any risks identified in previous
to be completed on a timely and
best possible tax position
audits
cost-effective basis
activity
• Identify the risk areas
• Monitor audit work against audit
Examples:
• Document the audit approach
programmes to ensure that audit
• Compare the effect of changes in
• Plan the use of audit tests and
objectives are met
tax rates on the client’s/
design audit programmes
organisation’s tax liabilities and
• Resolve any problems by communicating and discussing
advise on any action required by
Examples:
issues with senior colleagues or the
the client/organisation to optimise
• Prepare an Audit Planning
client
their tax position • Advise on the timing of capital asset purchases to optimise the
Memorandum and supporting schedules • Design/tailor audit programmes
client’s/organisation’s tax position
Examples: • Plan staffing arrangements and allocate audit work to staff
ELEMENT 25 K
according to their knowledge and
under future plans of the client/
Evaluate the control risk within an
level of experience
organisation and advise on how
organisation’s accounting systems
• Review the interaction of taxes
future tax liabilities may be minimised
• Set time and cost budgets and review these on a regular basis
To gain competence in this area, you should: • Test and evaluate the adequacy of the accounting system as a basis for the preparation of financial statements • Investigate areas of concern • Make any necessary changes to the
• Review audit work produced and ensure that it adequately supports the audit objective • Consider if amendments to the audit programme are required to gain sufficient evidence • Discuss and resolve issues arising during the audit with the client
audit approach and the audit programme
Student Training Record
PAGE 19
Membership Competences (continued)
UNIT B Collect evidence and evaluate risk for a statutory audit
• Evaluate any significant lack of evidence fairness of the financial statements Examples:
statutory audit
• Complete an analytical review of
• Collect audit evidence, carry out and evaluate the results of audit tests • Investigate inconsistencies or areas of concern arising from audit work • Corroborate evidence based on
• Ensure that audit papers are complete and that all significant
implications of the audit
the financial statements at the final
To gain competence in this area, you
review stage
should:
• Summarise and evaluate errors or misstatements identified during the course of the audit • Document your opinion on the truth and fairness of the financial statements, and the information on which they are based
management representations with evidence from another source
ELEMENT 30 Advise on the findings and
Evaluate evidence collected for a
should:
Report on the findings of the audit
• Form an opinion on the truth and
ELEMENT 27
To gain competence in this area, you
UNIT C
• Inform the client of the audit results and opinion and discuss matters of concern with management • Prepare and retain records of management responses • Record instances where management sheds further light on matters where sufficient evidence is
ELEMENT 29 Review the performance of a statutory audit
lacking • Design and discuss a management letter
matters relating to audit judgement are documented for the attention of
To gain competence in this area, you
Examples:
the reporting partner
should:
• Attend a closing meeting with the
• Ensure that all work undertaken by Examples: • Prepare working papers that document and evaluate audit tests and conclude thereon
staff is complete and accurate • Ensure that auditing standards and current legislation are adhered to • Ensure that sufficient evidence has
• Verify the audit programme
been obtained and that there are no
• Prepare a completion memorandum
outstanding queries
audit partner and the client and prepare minutes thereon • Obtain a letter of representation • Prepare and issue a management letter ELEMENT 31 K Prepare a formal audit report
ELEMENT 28 K
Examples:
Make judgements about the truth and
• Review audit work prepared by
fairness of an organisation’s financial
other staff
statements
• Complete the audit programme and
To gain competence in this area, you
• Complete a statutory disclosure
clear all outstanding points should: • Review the financial statements • Consider the materiality of errors or misstatements identified from the audit work performed
checklist
To gain competence in this area, you should: • Draft the audit report in accordance with current auditing standards, relevant legislation and statutory declarations • Arrange for this to be reviewed and confirmed by the audit principal • Explain the consequences of any qualification of the audit report to the client organisation
PAGE 20
Student Training Record
Membership Competences (continued)
• Ensure that audit files adequately
KEY AREA 5
• Monitor the completion of the
document the reasons for any
INTERNAL REVIEW AND
review programme and amend it
qualification and any relevant
CONSULTANCY
where necessary
discussions before the audit report is signed Examples:
• Ensure that any organisational and UNIT A
other regulatory requirements are
Prepare for and control an internal
met
review
• Prepare an appropriately worded audit report • Prepare a working paper to discuss the issues contributing to any
through discussion with the client/ ELEMENT 32 K
management
Determine the scope, purpose and objectives of an internal review
qualification, and the client’s responses
• Resolve any problems as they arise
Examples: • Complete the review programme
To gain competence in this area, you should:
• Discuss major issues as they arise with the client/management
• Determine the scope and objectives of the review and the specific areas
UNIT B
to be reviewed
Deliver the objectives of an internal
• Establish criteria against which the
review
evidence will be judged • Collect any relevant background documentation • Design the review programmes and
ELEMENT 34 Obtain evidence for analysis against the objectives of an internal review
planning documentation To gain competence in this area, you Examples:
should:
• Collect and document information
• Collect evidence to meet the
on the business environment • Produce planning documentation and audit programmes • Establish the objectives of a due diligence assignment and plan the work accordingly
objectives of the review • Investigate any areas of inconsistency or concern and document all significant findings • Corroborate management representations
ELEMENT 33
Examples:
Co-ordinate the delivery of evidence
• Carry out interviews with client staff
for an internal review
• Prepare documentation from site visits
To gain competence in this area, you should: • Manage staff and resources to ensure that the review outcomes
• Obtain third party evidence e.g. by performing a debtors’ circularisation • Produce systems documentation and working papers
are delivered
Student Training Record
PAGE 21
Membership Competences (continued)
ELEMENT 35 K
KEY AREA 6
Examples:
Make judgements against the
ASSET MANAGEMENT
• Make arrangements for bank overdrafts or loans
objectives of an internal review UNIT A
• Prepare grant applications
To gain competence in this area, you
Monitor and maintain the
• Investigate potential financing
should:
organisation’s working capital
options and consider alternative
• Analyse the evidence gathered
requirements
costs of financing
• Compare results with the criteria ELEMENT 37
UNIT B
Assess the organisation’s working
Contribute to controlling credit and
capital requirements
monitoring debt
To gain competence in this area, you
ELEMENT 39
Examples:
should:
Contribute to the specification of
• Perform analytical review of
• Collect information on working
credit and debt policies and
established at the planning stage • Select appropriate areas for further investigation and collect further evidence as necessary
evidence • Prepare a summary of findings ELEMENT 36 K Report on the findings and outcomes of an internal review To gain competence in this area, you
capital requirements market trends which may affect
To gain competence in this area, you
working capital requirements
should:
• Have adequate knowledge of the
outcomes of the review • Present the report to the client/ management
mechanisms and make
processes, customers and suppliers
recommendations for modifications
in order to make informed decisions
to existing/the introduction of new policies
Examples: • Produce a schedule of working capital requirements and timings of these requirements
• Investigate relevant market trends and organisational developments to determine their effect on future policies and mechanisms • Assess the organisation’s payments
• Ensure that the report meets the set requirements
• Evaluate existing policies and
organisation’s structure and
should: • Prepare a written report on the
mechanisms
• Consider current and expected
ELEMENT 38
policies
Co-ordinate the provision of working Examples:
capital
the review • Present the report to the client/ management
Examples: • Establish credit and debt control
• Produce a final written report on To gain competence in this area, you should: • Identify assets available
policies • Evaluate and report on existing credit and debt control policies
• Deposit funds in order to gain the optimum return on capital • Phase the provision of working capital over suitable time periods as required • Identify sources of finance and prepare finance applications
PAGE 22
Student Training Record
Membership Competences (continued)
ELEMENT 40
UNIT C
Monitor and maintain credit control
Evaluate potential business/
mechanisms
investment opportunities
To gain competence in this area, you
ELEMENT 42 K
should:
Determine the risks and benefits
return on capital employed, debtors
• Ensure that customers are offered
associated with business/investment
and creditors days and make
opportunities
recommendations on how
• Recommend ways of developing assets where appropriate Examples
credit appropriate to their level of credit worthiness and consistent with organisational policy • Ensure that customers comply with agreements • Monitor the activities of colleagues
improvements may be made To gain competence in this area, you
• Investigate the tax implications of
should:
the current and future asset
• Evaluate the potential returns of
structure
business/investment opportunities
to ensure that they are working
• Evaluate the risks associated with
within the limits of their stated
business/investment opportunities
authority
• Perform ratio analysis such as the
• Analyse the need to secure finance and identify sources from which
Examples:
that finance may be obtained
• Perform credit control checks on new customers • Ensure that the sales department are operating within set credit limits for specific customers • Monitor customers’ payment patterns
Examples: • Perform cost benefit analysis of potential investments • Perform value for money studies • Identify the advantages and constraints of potential corporate action (e.g. buyout, merger,
ELEMENT 41 Monitor and control the level of outstanding debt
takeover) • Evaluate potential capital investment opportunities
To gain competence in this area, you
ELEMENT 43 K
should:
Identify ways to optimise the use of
• Check on outstanding debt and
assets
make arrangements for its payment • Take necessary action when
To gain competence in this area, you
agreements are not reached or
should:
adhered to
• Consider the way that assets (cash/ current assets/fixed assets) are used
Examples:
• Identify ways to optimise the use of
• Produce late payment records
these assets in the organisation
• Take action against late-paying
• Analyse trends and developments
customers
which may affect the way that assets are used
Student Training Record
PAGE 23
Membership Competences (continued)
KEY AREA 7
ELEMENT 45
BUSINESS GROWTH AND
Assist in the setting of business
optimise the trading position of an
DEVELOPMENT
targets and objectives
organisation in financial difficulty
UNIT A
To gain competence in this area, you
UNIT B
Contribute to formulating business
should:
Contribute to developing products and
strategy and objectives
• Translate business strategy into
services
(Please note that this unit does not
clear targets and objectives
include controlling expenditure and
• Consult relevant personnel to
• Negotiate and agree plans to
ELEMENT 47
monitoring budgets, which is covered
determine business targets and
Identify and evaluate new ideas for
in Key Area 2, Unit C)
objectives
products and services
• Use suitable performance ELEMENT 44 K Assist in formulating business strategy
measurement criteria • Communicate targets to those responsible for their achievement
To gain competence in this area, you Examples:
• Formulate recommendations for
• Set cost and expenses category targets in line with the
• Take into account any internal and
organisation’s strategy
external factors such as budget
• Communicate targets and
constraints and competitor
performance criteria to cost centre
information
managers or budget-holders
Examples:
ELEMENT 46
business or department • Produce a 5 or 10 year business plan for the organisation • For administrative receiverships, review the possible outcomes for continuing to trade or closure of the business • Provide advice to management/ clients on possible alternative exit
• Consider ways to improve the quality of service offered by the organisation • Analyse and evaluate ideas for changes to products and services
• Advise the client/management on how goods can be produced/
targets and objectives
services provided in a more costeffective way by undertaking an
To gain competence in this area, you
internal review or project
should: • Set clear operational plans so that targets can be achieved • Provide details of the resources
ELEMENT 48 Contribute to the identification of changes to products and services
required to implement the plans • Involve the relevant personnel in the development of the plans • Where necessary, make allowances for risks and contingencies
routes e.g. sale of the business, public listing etc.
new ones
Develop plans to achieve business • Formulate a 12 month strategic plan for the activities of the
• Consider ways to improve existing
Examples:
• Present information in a clear and precise form, as required by users
should: products or services or to introduce
should: business strategy
To gain competence in this area, you
To gain competence in this area, you should: • Monitor the organisation’s products and services with a view to improving them
Examples: • Develop plans for the department or organisation which show how
• Evaluate the ongoing value and applicability of existing products and services
targets and objectives will be met
PAGE 24
Student Training Record
Membership Competences (continued)
• Make recommendations for changes to products and services
• Ensure that newly defined standards are in line with organisational values and aims
Examples: • Review sales and usage figures to identify slow moving stock lines and suggest possible improvements
products, services and processes • Monitor quality achievement in products, services and processes
Examples: • Gather feedback from customers, to specify customer service standards and policies
ELEMENT 49
• Constantly promote quality in
• Carry out benchmarking techniques
Examples: • Establish and monitor the criteria for meeting customer deadlines • Monitor the level of customer
Define and implement plans for the
to ascertain and measure customer
complaints and ensure that
introduction of changes to products
satisfaction
appropriate remedial action is taken
and services
• Monitor adherence to industry ELEMENT 51
To gain competence in this area, you
Implement and monitor customer
should:
service standards and policies
standards
• Reach agreement on how changes will be implemented • Plan and monitor the implementation of the changes identified • Amend plans as necessary
To gain competence in this area, you should: • Take the newly defined standards and translate them into practical action • Ensure that colleagues and service
Examples:
providers understand the new
• Design plans for the phasing out of
standards
obsolete stock or the introduction of new stock lines
Examples: • Perform a presentation at a staff
UNIT C
meeting to communicate new
Monitor and maintain the quality of
standards to staff
service to customers
• Provide staff training as necessary
ELEMENT 50
ELEMENT 52 K
Specify customer service standards
Promote continuous quality
and policies
improvement in products, services and processes
To gain competence in this area, you should:
To gain competence in this area, you
• Gather and analyse appropriate
should:
data • Communicate the benefits of
• Seek feedback on the quality of service provided by the organisation
customer service standards to staff
and compare to that provided b
and colleagues
similar organisations and/or industry standards
Student Training Record
PAGE 25
Membership Competences (continued)
KEY AREA 8
Examples:
ELEMENT 56
MANAGE INFORMATION SYSTEMS
• Prepare a cost benefit analysis of
Manage the system specification
different structures e.g. internal UNIT A
information systems such as off-
To gain competence in this area, you
Advise on information systems to
the-shelf packages, bespoke
should:
meet requirements
software and external information
• Produce a project plan for the
systems such as outsourcing ELEMENT 53 K Identify information system requirements
• Report on the findings of analysis and provide recommendations • Develop a cost allocation model
installation of the system, detailing objectives and constraints • Consider project risks, resources needed, timescales and the roles and responsibilities of those
To gain competence in this area, you
UNIT B
should:
Specify information systems to meet
• Evaluate the capability and
identified requirements
involved • Seek authority to implement new/ modify existing information systems
relevance of current information systems • Identify the costs and benefits of developing information systems to
ELEMENT 55
Examples:
Contribute to the design of
• Prepare the project plan
information systems UNIT C
meet organisationa requirements To gain competence in this area, you
Install information systems to meet
Examples:
should:
requirements
• Prepare a review of the
• Identify the requirements for
organisation’s existing information systems • Prepare a cost benefit analysis of new/modifications to information systems ELEMENT 54 Assist in establishing structures to deliver information systems
information systems and the needs
ELEMENT 57 K
of users
Implement information systems which
• Prepare a system specification • Consider potential problems, legislative requirements; access
To gain competence in this area, you
requirements, output requirements
should:
and ease of use
• Obtain the resources for the
• Contribute to the design of a system which balances current needs and anticipated future requirements
To gain competence in this area, you
meet requirements
• Consult with users throughout the
implementation and testing of systems • Implement and test the system in accordance with the system
should:
design process and negotiate
specification and in co-operation
• Review the options available to
approval for the design with
with users and systems specialists
deliver information systems and
appropriate personnel
• Provide recommendations on the most appropriate structure to deliver information systems • Consider the most suitable method of allocating the costs of
• Maintain the performance of the existing systems at operating levels
consider their costs and benefits Examples: • Construct and appraise an appropriate system specification • Contribute to the design of a flexible
throughout installation and testing • Communicate the results of the system testing to the appropriate personnel
and maintainable system
information systems
PAGE 26
Student Training Record
Membership Competences (continued)
Examples:
KEY AREA 9
• Implement the system
MANAGE PEOPLE
• Ensure that information given to others is clear and concise
• Produce test plans and document test results and user feedback • Prepare a report detailing the results of system testing
UNIT A
Examples:
Develop and maintain effective and
• Give support and encouragement
ethical relationships
to junior staff • Ensure effective team working
ELEMENT 58
ELEMENT 59 M
Review and evaluate implemented
Develop and maintain effective and
UNIT B
information systems
ethical business relationships
Recruit and develop people
To gain competence in this area, you
To gain competence in this area, you
ELEMENT 61
should:
should:
Identify personnel requirements and
• Review the system and gain
• Develop effective business networks
role specifications
feedback from users at regular
and maintain relationships with
intervals
clients, statutory and professional
To gain competence in this area, you
bodies
should:
• Identify opportunities for improvements to the system • Produce timely reports on systems performance • Make recommendations for
• Ensure confidentiality of information • Demonstrate and maintain professional integrity • Refer matters outside your
improvements and take action to
responsibility to senior colleagues
rectify problems, where authorised
or external sources as appropriate
to do so
• Identify recruitment needs in terms of skills gaps and staff shortages • Consider resource constraints against the benefits of bringing in new personnel • Produce clear and concise job and personnel specifications
Examples: Examples:
• Develop good working relationships
• Produce a systems evaluation
with auditors, clients, banks,
• Report on systems performance
debtors, creditors and other external
• Recommend improvements to the
bodies
appropriate people
Examples: • Produce a job specification for a sales ledger clerk • Review staffing allocations
• Attend external business meetings ELEMENT 62
• Rectify any problems arising ELEMENT 60 M
Recruit and select teams and
Develop and maintain effective and
individuals
ethical relationships with colleagues To gain competence in this area, you To gain competence in this area, you should: • Respond to requests and offer advice to colleagues as appropriate and when necessary • Request assistance in a manner sensitive to the needs and work load of colleagues
Student Training Record
should: • Use appropriate recruitment techniques to select individuals based upon agreed selection criteria • Ensure consistency with legal and organisational requirements • Ensure equality of opportunity and record the selection process
PAGE 27
Membership Competences (continued)
• Make recommendations on the recruitment and selection of
• Discuss your understanding of changes with relevant people
personnel
• Ensure that work methods and objectives are consistent with the organisation’s ethos and priorities,
Examples:
comply with relevant legal
Examples:
• Read relevant literature
requirements and optimise the use
• Review applications received for a
• Attend in-house or external
of available resources
vacant post
technical update sessions Examples:
• Sit on the interview panel ELEMENT 65 M
• Set team objectives
ELEMENT 63
Demonstrate a commitment to own
Develop teams and individuals
ongoing personal and professional
ELEMENT 67
development
Delegate activities to teams and
To gain competence in this area, you should: • Make assessments of the work of teams and individuals • Identify staff training and development needs • Identify and organise activities to meet development needs • Provide feedback to individuals and the team on their performance and development
individuals To gain competence in this area, you should:
To gain competence in this area, you
• Assess your own current level of
should:
competence • Set yourself challenging and achievable objectives • Take responsibility for your own development • Discuss your development and
• Allocate work to meet objectives • Provide learning opportunities to team members as appropriate • Allocate work in accordance with the abilities and development needs of team members
progress with your supervisor/line manager on a regular basis
Examples: • Allocate work to team members
Examples:
Examples:
• Carry out staff appraisals
• Complete and discuss your Student
• Implement training plans
issues
Training Record • Attend an appraisal and discuss
UNIT C
• Coach team members on specific
future objectives
ELEMENT 68 Monitor the work of others
Prioritise own ongoing personal and professional development
UNIT D
To gain competence in this area, you
Lead others to achieve objectives
should: • Monitor the team and individuals’
ELEMENT 64 M Maintain an awareness and
ELEMENT 66
understanding of changes affecting
Identify and agree objectives and
the profession
methods to deliver required outcomes
performance against objectives • Provide feedback to the team and individuals and suggest improvements
To gain competence in this area, you
To gain competence in this area, you
should:
should:
• Keep up to date with changes
• Develop and agree work methods
affecting the profession • Keep a record of information gathered
PAGE 28
• Reschedule or reallocate work to achieve objectives
and objectives with the team in
Examples:
order to achieve the required
• Co-ordinate team/project meetings
outcomes
• Carry out individual appraisals.
Student Training Record
Useful Addresses AUSTRALIA
ACCA Australia and New Zealand Centre Level 25 Chifley Tower 2 Chifley Square Sydney NSW 2000 tel: +61 (0)2 9747 2444 fax: +61 (0)2 9747 2403 e-mail:
[email protected] http://australia.accaglobal.com
BOTSWANA
ACCA Botswana Private Bag 00225 Gaborone tel: +267 318 8756 fax: +267 318 8757 e-mail:
[email protected]
CANADA
ACCA Canada 55 St Clair Avenue West Suite 255 Toronto Ontario M4V 2Y7 tel: +1 416 966 2225 fax: +1 416 967 6320 e-mail:
[email protected] http://canada.accaglobal.com
GHANA
ACCA Ghana PO Box OS3110 Osu Accra tel: +233 (0)21 250856/7010615 fax: +233 (0)21 250857 e-mail:
[email protected]
GREATER CHINA
ACCA Beijing Representative Office c/o Seacron Ltd Unit 1820 Tower 2 Beijing Bright China Chang An Building No. 7 Jianguomennei Avenue Beijing 100005 tel: +86 (0)10 6526 9776 or 6522 4885/6 fax: +86 (0)10 6526 9778 e-mail:
[email protected] http://china.accaglobal.com ACCA Guangzhou Representative Office c/o Seacron Ltd Room 3211-12 Guangzhou Metro Plaza 183 Tian He Bei Road Guangzhou 510620 tel: +86 (0)20 8755 7932/3/6012 fax: +86 (0)20 8755 7935 e-mail:
[email protected] http://china.accaglobal.com ACCA Hong Kong Room 1901 19/F World Wide House 19 Des Voeux Road Central tel: +852 2524 4988 fax: +852 2868 4909 e-mail:
[email protected] http://hongkong.accaglobal.com ACCA Shanghai Representative Office Unit G 25/F Shanghai Industrial Investment Building 18 Cao Xi North Road Xu Hui District Shanghai 200030 tel: +86 (0)21 6468 6175/6/7 fax: +86 (0)21 6468 6178 e-mail:
[email protected] http://china.accaglobal.com
IRAN
ACCA Iran Representative PO Box 15745 – 1177 Tehran e-mail:
[email protected]
IRELAND
ACCA Ireland 9 Leeson Park Dublin 6 tel: +353 (0)1 498 8900 fax: +353 (0)1 496 3615 e-mail:
[email protected] http://ireland.accaglobal.com
KENYA
ACCA Kenya PO Box 42502 Nairobi tel: +254 (0)20 2730728/9 fax: + 254 (0)20 2730730 e-mail:
[email protected]
MALAYSIA
ACCA Malaysia Sdn Bhd (473007P) 27th Floor Wisma Denmark No. 86 Jalan Ampang 50450 Kuala Lumpur tel: +60 (0)3 2713 5051 fax: +60 (0)3 2713 5052 e-mail:
[email protected] http://malaysia.accaglobal.com
MAURITIUS
ACCA Mauritius Fon Sing Building 4th Floor 12 Edith Cavell Street Port Louis tel: +230 210 9701 fax: +230 210 9699 e-mail:
[email protected]
NEPAL
ACCA Nepal Representative c/o P P Pradhan & Co Chartered Certified Accountants Kalimati Kha 1–13 PO Box 3242 Kathmandu tel: +977 1 4270495 fax: +977 1 4270346 e-mail:
[email protected]
OMAN
ACCA Oman Representative PO Box 57 Al-Harthy Complex Postal Code 118 tel: +968 571320 fax: +968 571324 e-mail:
[email protected]
PAKISTAN
ACCA Pakistan 61-C Main Gulberg Main Boulevard Lahore 54660 tel: +92 (0)42 575 9129/571 4361 fax: +92 (0)42 575 9346 e-mail:
[email protected] http://pakistan.accaglobal.com ACCA Islamabad Office Office #13 1st Floor Mohammadi Plaza 1-C Jinnah Avenue Between Sector F-6 and G-6 Blue Area Islamabad tel: +92 (0)51 287 6637/6654 fax: +92 (0)51 287 6605 e-mail:
[email protected] http://pakistan.accaglobal.com ACCA Karachi Office 603 6th Floor Fortune Centre Block-6 PECHS Shahrah-e-Faisal Karachi tel: +92 (0)21 431 5301/438 6612 fax: +92 (0)21 438 6613 e-mail:
[email protected] http://pakistan.accaglobal.com
RUSSIA
ACCA Russia Representative Office Room 223 Building 1 Petrovka Street 27 103031 Moscow tel/fax: +7 095 737 5542 e-mail:
[email protected] http://russia.accaglobal.com
SINGAPORE
ACCA Singapore 435 Orchard Road #12-03 Wisma Atria Singapore 238877 tel: +65 6734 8110 fax: +65 6734 2248 e-mail:
[email protected] http://singapore.accaglobal.com
SOUTH AFRICA
ACCA South Africa PO Box 924 Saxonwold 2132 tel: +27 (0)11 537 1760 fax: +27 (0)11 537 1761 e-mail:
[email protected] http://southafrica.accaglobal.com
SRI LANKA
ACCA Sri Lanka No.9 Rosmead Place Colombo 7 tel: +94 (0)1 679129/688593 fax: +94 (0)1 676599 e-mail:
[email protected]
UGANDA
ACCA Uganda PO Box 33000 Kampala tel: +256 (0)41 251328/9 or +256 (0)31 262503 fax: +256 (0)41 251330 e-mail:
[email protected]
UNITED KINGDOM
ACCA UK 64 Finnieston Square Glasgow G3 8DT tel: +44 (0)141 582 2000 fax: + 44 (0)141 582 2222 e-mail:
[email protected] www.accaglobal.com
USA
ACCA US e-mail:
[email protected] http://usa.accaglobal.com
Student Training Record
PAGE 29
VIETNAM
ACCA Vietnam Unit 605A - 6th Floor of Saigon Trade Center 37 Ton Duc Thang Street District 1 Ho Chi Minh City tel: +84 (0)8 910 3488 fax: +84 (0)8 910 3489 e-mail:
[email protected]
ZAMBIA
ACCA Zambia Postnet #135 Private Bag E835 Lusaka tel: +260 (0)1 223 810 fax: +260 (0)1 223 824 e-mail:
[email protected]
ZIMBABWE
ACCA Zimbabwe PO Box BE896 Belvedere Harare tel: +263 (0)4 704 798/794 474 tel/fax: +263 (0)4 704 777 e-mail:
[email protected]
REGIONAL OFFICES ASIA–PACIFIC
ACCA Asia–Pacific e-mail:
[email protected]
CARIBBEAN
ACCA Caribbean PO Box 5047 Newtown Port of Spain Trinidad West Indies tel: +1 868 622 3434 fax: +1 868 622 1358 e-mail:
[email protected] http://caribbean.accaglobal.com
CENTRAL AND EASTERN EUROPE
ACCA Central and Eastern Europe Na Prikope 9/11 110 00 Praha 1 Czech Republic tel: + 420 2 2224 0855 fax: +420 2 2423 9720 e-mail:
[email protected]
EAST AFRICA
ACCA East Africa PO Box 42502 Nairobi Kenya tel: +254 (0)20 2730728/9 fax: + 254 (0)20 2730730 e-mail:
[email protected]
SOUTHERN AFRICA
ACCA Southern Africa PO Box 924 Saxonwold 2132 South Africa tel: +27 (0)11 537 1760 fax: +27 (0)11 537 1761 e-mail:
[email protected] http://southafrica.accaglobal.com
PAGE 30
Student Training Record
Every effort has been made to ensure that the information in this booklet is accurate and up to date at the time of going to press. ACCA accepts no liability for inconvenience or loss caused by the publication of any out of date or inaccurate information. Any fees quoted are relevant to 2003 and are subject to change without written notification. No part of this publication may be reproduced in any format, without prior written permission of ACCA. Student Record © ACCATraining August 2003
PAGE 31
ACCA/STR/002
For further information please contact ACCA Connect, our dedicated global customer service centre 64 Finnieston Square Glasgow G3 8DT United Kingdom tel: +44 (0)141 582 2000 fax: +44 (0)141 582 2222 e-mail:
[email protected] www.accaglobal.com PAGE 32 The Association of Chartered Certified Accountants
Student Training Record
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