Achieve

Performance
objectives
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK

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 nine As an employer or practical experience supervisor,

performance objectives in total – all five you should encourage trainees to think about
Essentials performance objectives and any ways they can achieve performance objectives
four Technical performance objectives. and provide opportunities for them to do this eg
secondments or job rotations, project work, or
Performance objectives are divided into 10 areas
learning and undertaking new responsibilities.
which are closely linked to the exam syllabus –
These types of activities will help the trainee to
reinforcing that any knowledge developed through
meet ACCA’s practical experience requirements
the exams process will have a clear application in
and benefit the organisation in which they work.
the workplace.
The performance objectives are made up of a Once the practical experience supervisor and
description, elements which describe the skills the trainee have identified which performance
and experience trainees must demonstrate, objectives the trainee is going to achieve, the
and a statement where they summarise trainee will need to complete a period of work
and reflect on the work activities they have where they are gaining experience and developing
undertaken to meet the performance objective their skills. The practical experience supervisor
description. Trainees will need to claim five and the trainee will then need to review this
elements and complete a statement for each experience. Using My Experience trainees will
performance objective. Trainees can claim need to claim the elements and write a statement
elements individually as they achieve them. that relates to the performance objective they are
working towards achieving. Practical experience
Each trainee is required to plan with their practical
supervisors will need to review and sign-off the
experience supervisor which performance
performance objective if the trainee has achieved
objectives they aim to achieve. This process will
it or alternatively, provide further guidance on what
help both to identify which performance objectives
future activity needs to be completed.
the trainee can realistically achieve in their current
role. Trainees should consider:
The table opposite outlines the performance
• their role and responsibilities objectives. Detailed information to guide trainees
• opportunities for gaining experience on each performance objective is contained within
• which exams they have passed or are this booklet.
currently studying.

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 ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK

Performance
objectives
ESSENTIALS – complete all five
1 Ethics and professionalism
2 Stakeholder relationship management
3 Strategy and innovation
4 Governance, risk and control
5 Leadership and management

TECHNICAL – choose any four

Corporate and business reporting

6 Record and process transactions and events

7 Prepare external financial reports
8 Analyse and interpret financial reports

Financial management

9 Evaluate investment and financing decisions

10 Manage and control working capital
11 Identify and manage financial risk

Management accounting

12 Evaluate management accounting systems

13 Plan and control performance
14 Monitor performance

Taxation

15 Tax computations and assessments

16 Tax compliance and verification
17 Tax planning and advice

Audit and assurance

18 Prepare for and plan the audit and assurance process

19 Collect and evaluate evidence for an audit or assurance engagement
20 Review and report on the findings of an audit or assurance engagement

Advisory and consultancy

21 Business advisory

Data, digital and technology

22 Data analysis and decision support

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ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK

Essentials
Performance
Objectives
PO1 – ETHICS AND PROFESSIONALISM

Description
The fundamental principles of ethical behaviour mean you
should always act in the wider public interest. You need to
take into account all relevant information and use professional
judgement, your personal values and scepticism to evaluate
data and make decisions. You should identify right from
wrong and escalate anything of concern. You also need to
make sure that your skills, knowledge and behaviour are
up-to-date and allow you to be effective in your role.

Elements
a Act diligently and honestly, following codes
of conduct, taking into account – and
keeping up-to-date with – legislation.
b Act with integrity, objectivity, professional
competence and due care and confidentiality. You
should raise concerns about non-compliance.
c Develop a commitment to your personal and professional
knowledge and development. You should become
a life-long learner and continuous improver, seeking
feedback and reflect on your contribution and skills.
d Identify, extract, interrogate and evaluate complex
data to make reliable, informed decisions.
e Interrogate, critically analyse and assess data and
other information with professional scepticism.
You should challenge opinion and facts through
corroboration and robust testing.

Example activities
• Applying legislation appropriately to client needs.
• Continually reviewing legislation and regulation
that affects your working environment.
• Briefing a team on a new standard and how to apply it.
• Keeping sensitive information confidential
and disclosing only to those who need it or
when disclosure is legally required.
• Recognising unethical behaviour and telling your
line manager about what you have seen.
• Avoiding situations where there may be any
threat to your professional independence.

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 ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK

• Deciding what information is important and reliable, Example activities

using it to support your decision making. • Communicating in a way that suits the audience or
audiences, using the right tone, style and medium,
• Completing all the code of conduct and/or professional
including data visualisation techniques. This could include
ethics training provided by your organisation.
communicating with clients from different cultures.
• Checking transactions and supporting documents
• Developing relationships in meetings
to verify the accuracy of accounting records.
that lead to positive outcomes.
• Use digital technology responsibly to analyse and
• Discussing work problems with colleagues or
evaluate data from a variety of sources, ensuring
clients to improve and maintain relationships.
the integrity and security of this data.
• Planning for and engaging positively
Linked exams with the appraisal process.
Links to all exams.
• Using media and technology to contribute to business-
related discussions – for example, contributing to
intranet community conversations, hosting virtual
PO2 – STAKEHOLDER RELATIONSHIP MANAGEMENT
meetings or making online presentations.
Description • Presenting internally or externally.
You manage stakeholder expectations and needs, developing
• Participating effectively in interviews.
and maintaining productive business relationships. You listen
to and engage stakeholders effectively and communicate • Drafting reports effectively.
the right information to them when they need it.
• Dealing well with conflicting deadlines or requirements.
Elements • Acting responsibly and with maturity
a Display sensitivity, empathy and cultural awareness when there are disagreements.
in all your communications. This allows you to
establish trust and credibility with a range of • Addressing service level complaints.
stakeholders and gain their confidence. • Engaging productively with internal and external
b Use a range of mediums and make appropriate use of stakeholders including business partners.
digital technology to communicate clearly, concisely • Discussing expectations of your work with your supervisor.
and persuasively in formal and informal situations.
• Working within your supervisor’s requirements
c Gain commitment from stakeholders by consulting and and giving them regular progress updates.
influencing them to solve problems, meet objectives
and maximise mutually beneficial opportunities. • Networking at conferences, internally or
by joining business-related groups.
d Develop and build effective and ethical
professional relationships and networks using Linked exams
face to face and digital technology. Accountant in Business
e Deal calmly and efficiently with conflicting Financial Reporting
priorities, deadlines or opinions – both internally Strategic Business Leader
and externally – by listening and negotiating. Strategic Business Reporting
Advance Financial Management.

5
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK

PO3 – STRATEGY AND INNOVATION • Using online resources to develop commercial

awareness and keep up with emerging technologies.
Description This could include using social and business
You contribute to the wider business strategy of your media to develop your business networks.
organisation through your personal and team objectives.
• Highlighting issues at work which cause ineffectiveness
You identify innovative ways to improve organisational
or inefficiencies and recommending solutions.
performance – which may include making or recommending
business process changes and improvements. • Improving organisational systems/tools to drive
innovation, process, system and technological change.
Elements
• Obtaining information from other departments to evaluate
a Research and be familiar with your employer’s
performance or suggest business improvements.
business, the sector it operates within and
the wider business environment.
Linked exams
b Listen to and learn from colleagues and experts. Strategic Business Leader
Anticipate challenges, show openness and Advanced Financial Management
contribute to new ideas and opportunities. Advanced Performance Management.
c Plan, identify and monitor your personal targets and
standards of delivery so that they meet the wider
PO4 – GOVERNANCE, RISK AND CONTROL
departmental and strategic objectives of your organisation.
d Think systematically, critically and innovatively using Description
technological capabilities, where appropriate, You contribute to effective governance in your
when you’re solving business problems. area. You evaluate, monitor and implement risk
management procedures, complying with the spirit
e Develop financial acumen and commercial awareness.
and the letter of policies, laws and regulations.
This will allow you to adopt and apply innovative methods
and technologies to identify business problems and
Elements
evaluate strategic options and manage solutions.
a Provide and present information at the
appropriate time to comply with organisational
Example activities
requirements and external regulation.
• Using market data analytics tools to research
competitor and customer activities. b Operate according to the governance standards, policies
and controls of your organisation. You also review your
• Attending courses or conferences and accessing
work and your colleagues’ work to make sure it complies.
online training that will help you with your work.
c Evaluate and identify areas of risk including data and
• Highlighting business problems or system issues.
cyber security risks – assessing the probability of fraud,
• Planning or managing a project. error, security breaches and other hazards in your area
of responsibility, and the impact they would have.
• Proposing innovative and practical ideas.
d Assess the risk of failures in the internal controls
• Discussing general business matters with your colleagues.
and procedures in your area of responsibility.
• Thinking creatively and speaking openly about
e Consult with stakeholders and specialists, communicating
business issues and how to solve them.
with them to solve problems and reach conclusions.

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 ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK

Example activities b Manage time and tasks effectively to meet

• Collating data on risks, including cyber security business needs and professional commitments.
risks and assessing their likelihood and potential You are capable of working under pressure.
impact using appropriate technology.
c Manage resources – including teams – to deliver your
• When you identify risks, bringing them to objectives to agreed deadlines. You motivate other people
the attention of your line manager. and you’re actively involved in helping them to develop.
• Complying with authorisation limits d Work with others to recognise, assess and improve business
and other internal controls. performance. You use different techniques and appropriate
technologies to support business improvement.
• Complying with money laundering legislation or
regulation – and reporting any suspicious activities. e You negotiate effectively and can justify solutions
logically and persuasively to colleagues and clients.
• Briefing a team on a new policy, procedure or methodology.
• Creating and/or updating policies and/ Example activities
or process documentation/procedures. • Effectively managing or leading a group of people.
• Training staff on recent compliance issues. • Identifying and allocating resources.
• Reviewing policies, processes or procedures following • Coordinating activities involving more
audit reviews and revise them accordingly. than one team or department.
• Contributing to or organising a survey or • Creating a project plan with timelines.
focus group to obtain opinions and feedback
• Participating in a project team using
from colleagues, clients or customers.
project management methodology.
Linked exams • Learning from and influencing others positively,
Accountant in Business to reach acceptable and desirable results.
Corporate and Business Law
• Sharing best practice with colleagues.
Audit and Assurance
Strategic Business Leader • Supporting a positive, inclusive and
Advanced Audit and Assurance. respectful work environment.
• Training others on an area of work.
PO5 – LEADERSHIP AND MANAGEMENT • Being a role model to others.
• Allocating work effectively to other
Description
team members or suppliers.
You manage yourself and your resources effectively
and responsibly. You contribute to the leadership
Linked exams
and management of your organisation – delivering
Accountant in Business
what’s needed by stakeholders and the business.
Strategic Business Leader
Advanced Financial Management
Elements
Advanced Performance Management.
a Show initiative with your team – working
towards organisational goals, collaborating
with and supporting others.

7
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK

Technical
Performance
Objectives
Corporate and Business
Reporting

PO6 – RECORD AND PROCESS TRANSACTIONS

AND EVENTS

Description
You use the right accounting treatments for transactions and
events. These should be both historical and prospective – and
include non-routine transactions.

Elements
a Implement or operate systems to record and process
accounting data using emerging technology where
appropriate or feasible.
b Gather information for end-of-period
accounting entries – and prepare estimates for
adjustments to inter-company accounts.
c Verify, input and process routine financial accounting data
within the accounting system using emerging technology
where appropriate or feasible.
d Prepare and review reconciliations and other
accounting controls.
e Make sure you’re using accounting standards and policies
when you’re processing transactions and events.

Linked exams
Financial Accounting
Financial Reporting
Strategic Business Reporting.

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 ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK

PO7 – PREPARE EXTERNAL FINANCIAL REPORTS PO8 – ANALYSE AND INTERPRET FINANCIAL REPORTS

Description Description
You take part in preparing and reviewing financial statements You analyse financial statements to evaluate and assess the
– and all accompanying information – and you do it in financial performance and position of an entity.
accordance with legal and regulatory requirements.
Elements
Elements a Assess the financial performance and position of an entity
a Contribute to drafting or reviewing based on financial statements and disclosure notes.
primary financial statements according to
b Evaluate the effect of chosen accounting policies on the
accounting standards and legislation.
reported performance and position of an entity.
b Make sure that your organisational policies are fit for the
c Identify inconsistencies between the information in the
purpose of preparing external financial statements.
financial statements of an entity and any accompanying
c Classify information correctly. narrative reports.
d Review financial statements and correct for errors and d Evaluate the effects of fair value measurements and any
account for – or disclose – events after the reporting date. underlying estimates on the reported performance and
position of an entity.
e Prepare or review narrative and quantitative information to
include with financial statements. e Conclude on the performance and position
of an entity identifying relevant factors and
Linked exams make recommendations to management.
Financial Accounting
Financial Reporting Linked exams
Strategic Business Reporting. Financial Accounting
Financial Reporting
Strategic Business Reporting.

9
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK

Financial Management

PO9 – EVALUATE INVESTMENT AND d Contribute to the way current systems for managing cash,
FINANCING DECISIONS short-term liquidity and working capital operate.
e Operate and comply with controls and safeguards over
Description
working capital management.
You advise on alternative sources of finance. And you evaluate
and review the financial viability of investment decisions.
Linked exams
Advanced Financial Management.
Elements
a Advise on the appropriateness and cost of different sources
of finance.
PO11 – IDENTIFY AND MANAGE FINANCIAL RISK
b Identify and raise an appropriate source of finance for a
specific business need. Description
You identify, measure, and advise on the financial risks to
c Review the financial and strategic consequences of
the organisation.
undertaking a particular investment decision.
d Select investment or merger and acquisition opportunities Elements
using appropriate appraisal techniques. a Identify key sources of financial risk to the organisation and
how they might arise.
e Evaluate projects, financial securities and instruments – and
advise on their costs and benefits to the organisation. b Assess the likelihood and impact of financial risks to
specific business activities.
Linked exams
c Assess whether to transfer, avoid, reduce or accept
Financial Management
financial risk.
Strategic Business Leader
Advanced Financial Management. d Advise on using instruments or techniques to manage
financial risk.
e Monitor financial risks, reviewing their status and advising
PO10 – MANAGE AND CONTROL WORKING CAPITAL
on how they should be managed.
Description
Linked exams
You manage cash and working capital effectively using
Financial Management
appropriate technology, planning for any shortfall or surplus
Strategic Business Leader
including receivables, payables and inventories.
Advanced Financial Management.
Elements
a Source short-term finance to improve
organisational liquidity.
b Analyse and plan appropriate levels of cash and
working capital.
c Prepare and monitor organisational cash flow, credit
facilities and advise on appropriate actions.

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 ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK

Management Accounting

PO12 – EVALUATE MANAGEMENT c Regularly review your progress against plans.

ACCOUNTING SYSTEMS
d Use appropriate techniques to assess and to evaluate
overall performance against plans.
Description
You apply different management accounting techniques using e Advise on business performance and
appropriate technologies in different business contexts to recommend improvements.
effectively manage and use resources.
Linked exams
Elements Management Accounting
a Evaluate management accounting techniques and Performance Management
approaches in an organisation. Strategic Business Leader
Advanced Performance Management.
b Apply appropriate costing techniques to products
and services.
c Assess and advise on the effectiveness of an organisation’s PO14 – MONITOR PERFORMANCE
management accounting and ICT systems.
Description
d Contribute to developing and improving management
You measure and assess departmental and
accounting systems and internal reporting recognising the
business performance.
impact of emerging technologies.
e Monitor new developments in management Elements
accounting and consider their potential a Identify the key external factors, including financial factors,
impact on performance and systems. affecting organisational performance.
b Analyse and provide appropriate information to
Linked exams
measure performance.
Management Accounting
Performance Management c Identify and use performance measurement techniques.
Strategic Business Leader
d Monitor and evaluate individual and departmental
Advanced Performance Management.
performance to identify areas for development.
e Advise on appropriate ways to maintain and
PO13 – PLAN AND CONTROL PERFORMANCE improve performance.

Description Linked exams

You plan business activities and control performance, making Management Accounting
recommendations for improvement. Performance Management
Advanced Performance Management.
Elements
a Contribute to setting objectives to plan and control
business activities.
b Coordinate, prepare and use budgets, selecting
suitable models.

11
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK

Taxation

PO15 – TAX COMPUTATIONS AND ASSESSMENTS d Identify allowable claims, or the need to object to/appeal
an assessment, in a timely way.
Description
e Communicate professionally in both routine and
You prepare computations of taxable amounts and tax
specific inquiries.
liabilities according to legal requirements.
Linked exams
Elements
Taxation
a Extract and analyse data from financial
Advanced Taxation.
records and filing information to prepare tax
computations and related documents.
b Prepare or contribute to the computation or PO17 – TAX PLANNING AND ADVICE
assessment of tax for individuals or single
companies or groups and other entities. Description
You advise on mitigating and deferring tax liabilities through
c Use appropriate technology to prepare tax computations
legitimate tax planning measures.
or assessments and related documents.
d Prepare or contribute to computations or assessments of Elements
indirect tax liabilities. a Explain the differences between tax planning, tax
avoidance and tax evasion.
e Explain the basis of tax calculations and the
interpretation of the effect of current legislation b Review and advise on the potential tax risks and/or tax
and case law and ethical frameworks. minimisation measures for individuals and organisations.
c Assess the tax implications of proposed activities or plans,
Linked exams
referring to up-to-date legislation.
Taxation
Advanced Taxation. d Mitigate and/or defer tax liabilities through standard reliefs,
exemptions and incentives.
e Know when to refer matters to someone with more
PO16 – TAX COMPLIANCE AND VERIFICATION
specialist knowledge.
Description
Linked exams
You make sure that individuals and entities comply with their
Taxation
tax obligations – on time, and in the spirit and letter of the law.
Advanced Taxation.
Elements
a Sceptically verify client submissions – and submit on time to
the tax authorities.
b Determine the incidence (timing) of tax liabilities and their
impact on cash flow/financing requirements.
c Explain tax filing and payment – and the consequences of
non-compliance to clients.

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 ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK

Audit and Assurance

PO18 – PREPARE FOR AND PLAN THE AUDIT AND b Carry out and document compliance, substantive tests
ASSURANCE PROCESS and other audit or assurance work using appropriate
technology to assist the audit and assurance procedures.
Description
c Evaluate evidence, demonstrate professional scepticism,
You plan and control the engagement process, including
investigate areas of concern and make sure documentation
the initial investigation. You also plan and monitor the audit
is complete and all significant issues are highlighted.
programme – legally and ethically.
d Assess that the audit evidence is sufficient and appropriate.
Elements
e Identify the main factors to be considered before forming
a Become familiar with the scope and services to be provided.
an opinion and reaching judgements.
b Identify ethical requirements at the start of an engagement
or internal audit investigation. Linked exams
Audit and Assurance
c Use up-to-date auditing standards and legal and
Advanced Audit and Assurance.
ethical frameworks.
d Determine levels of risk and use them to document the
audit plan. Design programmes and plan tests for an PO20 – REVIEW AND REPORT ON THE FINDINGS OF AN
internal or external audit or assurance engagement using AUDIT OR ASSURANCE ENGAGEMENT
appropriate technology to assist the process.
Description
e Evaluate risk in an organisation’s internal control structure You complete an audit, preparing the formal documentation
and make any necessary changes to the audit programme/ and reporting any control deficiencies to management. You
plan of work. report back to managers in a formal audit report.

Linked exams Elements

Audit and Assurance a Review the performance of an audit; making sure that the
Advanced Audit and Assurance. evidence is accurate, complete and sufficient.
b Contribute to identifying and resolving audit or assurance
PO19 – COLLECT AND EVALUATE EVIDENCE FOR AN issues and make sure there are no outstanding queries.
AUDIT OR ASSURANCE ENGAGEMENT c Discuss the findings and implications of an audit
or assurance engagement with management and
Description governance teams.
Carry out an internal or external audit or an assurance
engagement, from collecting evidence, through to forming an d Draft written representations and report significant control
opinion. You demonstrate professional scepticism and make deficiencies to management and governance teams.
sure judgements are based on sufficient valid evidence. e Prepare audit reports in accordance with relevant
standards, regulations and legislation.
Elements
a Coordinate the engagement, including managing people Linked exams
and time to make sure you get results. Audit and Assurance
Strategic Business Leader
Advanced Audit and Assurance.

13
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK

Advisory and Consultancy Data, Digital and Technology

PO21 – BUSINESS ADVISORY PO22 – DATA ANALYSIS AND DECISION SUPPORT

Description Description
Develop clear insight into both internal and external You use commercial acumen to articulate business questions
clients’ business issues and provide expert advice, to resolve problems, exploit opportunities and identify and
specific to that client, which will add value to the manipulate relevant data requirements; deeply analysing
business or organisational function. You support clients’ data by applying appropriate techniques. You draw clear
objectives and plans to improve, innovate and grow; conclusions and present your findings to enable relevant
identify efficiencies and respond to changing business stakeholders to make sound business decisions.
conditions, helping them to continuously improve.
Elements
Elements a Identify any relevant financial and non-financial data and
a Identify and use appropriate financial and non-financial use it to provide insights to answer important business
information to build a comprehensive understanding of questions and provide solutions for your organisation.
a client’s business and the business environment in which
b Use appropriate analytical tools to process, manipulate
they operate.
and analyse data. These tools could include spreadsheet
b Identify ways for clients to use business partnering applications or more technical statistical analysis software.
to make better connections and develop
c Apply modelling techniques to deliver specific types of
successful, relationships, based on achieving
analysis, which may include: scenario analysis, forecasting,
best practice and creating additional value.
optimisation problems or cost-benefit analysis.
c Identify the objectives of the advisory engagement to
d Use data and resulting information ethically and
develop plans to investigate, implement and support
responsibly, analysing and interpreting data sceptically to
effective change to meet those engagement objectives.
draw appropriate conclusions and make recommendations
d Prepare and present plans in an understandable way, which to support effective decision-making.
allows the client to evaluate and act on the business advice.
e Communicate the recommendations to relevant
e Advise on the appropriate actions to enable the stakeholders in a way they can easily visualise and
implementation of the chosen solutions. understand, to exploit business opportunities, manage risk
and evaluate performance.
Linked exams
Strategic Business Leader Linked exams
Advanced Financial Management Accountant in Business
Advanced Performance Management. Management Accounting
Financial Management
Performance Management
Strategic Business Leader
Advanced Financial Management
Advanced Performance Management.

14
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our global customer service centre, by email
or telephone as shown below.

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