PER Performance Objectives Achieve
PER Performance Objectives Achieve
Performance
objectives
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK
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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
Financial management
Management accounting
Taxation
21 Business advisory
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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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PERFORMANCE OBJECTIVES HANDBOOK
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PERFORMANCE OBJECTIVES HANDBOOK
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PERFORMANCE OBJECTIVES HANDBOOK
Technical
Performance
Objectives
Corporate and Business
Reporting
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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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.
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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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Management Accounting
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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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PERFORMANCE OBJECTIVES HANDBOOK
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.
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PERFORMANCE OBJECTIVES HANDBOOK
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.
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our global customer service centre, by email
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