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

Sustainable management accounting

12 Evaluate management accounting systems

13 Plan and control performance
14 Monitor performance

Tax advisory

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 process

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

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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, process and evaluate information
to make reliable, well-reasoned conclusions.
e Check, critically analyse and assess financial and other data
with professional scepticism. You should question 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, • Developing relationships in meetings

using it to support your decision making. that lead to positive outcomes.
• Completing all the code of conduct and/or professional • Discussing work problems with colleagues or
ethics training provided by your organisation. clients to improve and maintain relationships.
• Checking transactions and supporting documents • Planning for and engaging positively
to verify the accuracy of accounting records. with the appraisal process.
• Using media and technology to contribute to business-
Linked exams
related discussions – for example, contributing
Links to all exams.
to intranet community conversations, hosting
teleconferences or making online presentations.
PO2 – STAKEHOLDER RELATIONSHIP MANAGEMENT • Presenting internally or externally.
• Participating effectively in interviews.
Description
You manage stakeholder expectations and needs, developing • Drafting reports effectively.
and maintaining productive business relationships. You listen
• Dealing well with conflicting deadlines or requirements.
to and engage stakeholders effectively and communicate
the right information to them when they need it. • Acting responsibly and with maturity
when there are disagreements.
Elements
a Display sensitivity, empathy and cultural awareness • Addressing service level complaints.
in all your communications. This allows you to • Engaging with internal customers
establish trust and credibility with a range of throughout the organisation.
stakeholders and gain their confidence.
• Discussing expectations of your work with your supervisor.
b Use a range of mediums and make appropriate
use of IT to communicate clearly, concisely and • Working within your supervisor’s requirements
persuasively in formal and informal situations. and giving them regular progress updates.

c Gain commitment from stakeholders by consulting and • Networking at conferences, internally or

influencing them to solve problems, meet objectives by joining business-related groups.
and maximise mutually beneficial opportunities.
Linked exams
d Develop and build effective and ethical Accountant in Business
professional relationships and networks. Financial Reporting
e Deal calmly and efficiently with conflicting Strategic Business Leader
priorities, deadlines or opinions – both internally Strategic Business Reporting
and externally – by listening and negotiating. Advance Financial Management.

Example activities
• Communicating in a way that suits the audience
or audiences, using the right tone, style and
medium. This could include communicating
with clients from different cultures.

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ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK

PO3 – STRATEGY AND INNOVATION • Improving organisational systems/tools to drive

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

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 ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK

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

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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.
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.
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.

8
 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 primary financial based on financial statements and disclosure notes.
statements according to accounting standards and b Evaluate the effect of chosen accounting policies on the
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
e Prepare or review narrative and quantitative information to position of an entity.
include with financial statements. e Conclude on the performance and position of an entity
identifying relevant factors and make recommendations to
Linked exams
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 FINANCING PO11 – IDENTIFY AND MANAGE FINANCIAL RISK
DECISIONS
Description
Description You identify, measure, and advise on the financial risks to the
You advise on alternative sources of finance. And you evaluate organisation.
and review the financial viability of investment decisions.
Elements
Elements a Identify key sources of financial risk to the organisation and
a Advise on the appropriateness and cost of different sources how they might arise.
of finance. b Assess the likelihood and impact of financial risks to
b Identify and raise an appropriate source of finance for a specific business activities.
specific business need. c Assess whether to transfer, avoid, reduce or accept financial
c Review the financial and strategic consequences of risk.
undertaking a particular investment decision. d Advise on using instruments or techniques to manage
d Select investment or merger and acquisition opportunities financial risk.
using appropriate appraisal techniques. e Monitor financial risks, reviewing their status and advising
e Evaluate projects, financial securities and instruments – and on how they should be managed.
advise on their costs and benefits to the organisation.
Linked exams
Linked exams Financial Management
Financial Management Strategic Business Leader
Strategic Business Leader Advanced Financial Management.
Advanced Financial Management.

PO10 – MANAGE AND CONTROL WORKING CAPITAL

Description
You manage cash and working capital effectively, planning for
any shortfall or surplus including receivables, payables and
inventories.
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.
d Contribute to the way systems for managing cash, short-
term liquidity and working capital operate.
e Operate and comply with controls and safeguards over
working capital management.
Linked exams
Advanced Financial Management.

10
 ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK

Sustainable Management Accounting

PO12 – EVALUATE MANAGEMENT ACCOUNTING PO13 – PLAN AND CONTROL PERFORMANCE

SYSTEMS
Description
Description You plan business activities and control performance, making
You apply different management accounting techniques in recommendations for improvement.
different business contexts to effectively manage and use
Elements
resources.
a Contribute to setting objectives to plan and control
Elements business activities.
a Evaluate management accounting techniques and b Coordinate, prepare and use budgets, selecting suitable
approaches in an organisation. models.
b Apply appropriate costing techniques to products and c Regularly review your progress against plans.
services.
d Use appropriate techniques to assess and to evaluate
c Assess and advise on the impact of an organisation’s overall performance against plans.
management accounting and information systems.
e Advise on business performance and recommend
d Contribute to developing and improving management improvements.
accounting systems and internal reporting.
Linked exams
e Monitor new developments in management accounting
Management Accounting
and consider their potential impact on performance and
Performance Management
systems.
Strategic Business Leader
Linked exams Advanced Performance Management.
Management Accounting
Performance Management PO14 – MONITOR PERFORMANCE
Strategic Business Leader
Advanced Performance Management. Description
You measure and assess departmental and business performance.
Elements
a Identify the key external factors, including financial factors,
affecting organisational performance.
b Analyse and provide appropriate information to measure
performance.
c Identify and use performance measurement techniques.
d Monitor and evaluate individual and departmental
performance to identify areas for development.
e Advise on appropriate ways to maintain and improve
performance.
Linked exams
Management Accounting
Performance Management
Advanced Performance Management.

11
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK

Tax Advisory

PO15 – TAX COMPUTATIONS AND ASSESSMENTS PO17 – TAX PLANNING AND ADVICE
Description Description
You prepare computations of taxable amounts and tax You advise on mitigating and deferring tax liabilities through
liabilities according to legal requirements. legitimate tax planning measures.
Elements Elements
a Extract and analyse data from financial records and filing a Explain the differences between tax planning, tax
information to prepare tax computations and related avoidance and tax evasion.
documents. b Review and advise on the potential tax risks and/or tax
b Prepare or contribute to the computation of tax for minimisation measures for individuals and organisations.
individuals or single companies, groups or other entities. c Assess the tax implications of proposed activities or plans,
c Prepare or contribute to the assessment of tax for referring to up-to-date legislation.
individuals or single companies, groups or other entities. d Mitigate and/or defer tax liabilities through standard reliefs,
d Prepare or contribute to computations or assessments of exemptions and incentives.
indirect tax liabilities. e Know when to refer matters to someone with more
e Explain the basis of tax calculations – and interpret the specialist knowledge.
effect of current legislation and case law.
Linked exams
Linked exams Taxation
Taxation Advanced Taxation.
Advanced Taxation.

PO16 – TAX COMPLIANCE AND VERIFICATION

Description
You make sure that individuals and entities comply with their
tax obligations – on time, and in the spirit and letter of the law.
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.
d Identify allowable claims, or the need to object to/appeal
an assessment, in a timely way.
e Communicate professionally in both routine and specific
inquiries.
Linked exams
Taxation
Advanced Taxation.

12
 ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK

Audit and Assurance

PO18 – PREPARE FOR AND PLAN THE AUDIT PROCESS d Assess that the audit evidence is sufficient and appropriate.
Description e Identify the main factors to be considered before forming
You plan and control the engagement process, including an opinion and reaching judgements.
the initial investigation. You also plan and monitor the audit Linked exams
programme – legally and ethically. Audit and Assurance
Elements Advanced Audit and Assurance.
a Become familiar with the scope and services to be
provided.
PO20 – REVIEW AND REPORT ON THE FINDINGS OF AN
b Identify ethical requirements at the start of an engagement
AUDIT
or internal audit investigation.
c Use up-to-date auditing standards and legal and ethical Description
frameworks. You complete an audit, preparing the formal documentation
d Determine levels of risk and use them to document the and reporting any control deficiencies to management. You
audit plan. Design programmes and plan tests for an report back to managers in a formal audit report.
internal or external audit.
Elements
e Evaluate risk in an organisation’s internal control structure a Review the performance of an audit; making sure that the
and make any necessary changes to the audit programme/ evidence is accurate, complete and sufficient.
plan of work.
b Contribute to identifying and resolving audit issues and
Linked exams make sure there are no outstanding queries.
Audit and Assurance c Discuss the findings and implications of an audit with
Advanced Audit and Assurance. management and governance teams.
d Draft written representations and report significant control
deficiencies to management and governance teams.
PO19 – COLLECT AND EVALUATE EVIDENCE FOR AN
AUDIT e Prepare audit reports in accordance with relevant
standards, regulations and legislation.
Description
Carry out an internal or external audit from collecting Linked exams
evidence, through to forming an opinion. You demonstrate Audit and Assurance
professional scepticism and make sure judgements are based Strategic Business Leader
on sufficient valid evidence. Advanced Audit and Assurance.

Elements
a Coordinate the engagement, including managing people
and time to make sure you get results.
b Carry out and document compliance, substantive tests and
other audit work.
c Evaluate evidence, demonstrate professional scepticism,
investigate areas of concern and make sure documentation
is complete and all significant issues are highlighted.

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Contact your local ACCA office – details can
be found on our website – or ACCA Connect,
our global customer service centre, by email
or telephone as shown below.

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