Performance Objectives Handbook
Performance Objectives Handbook
Performance Objectives Handbook
Performance
objectives
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK
Performance
objectives
ESSENTIALS complete all five
1
2
3
4
5
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK
Essentials
Performance
Objectives
PO1 PROFESSIONALISM AND ETHICS
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.
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK
Linked exams
Links to all exams.
PO2 STAKEHOLDER RELATIONSHIP MANAGEMENT
Description
You manage stakeholder expectations and needs, developing
and maintaining productive business relationships. You listen
to and engage stakeholders effectively and communicate
the right information to them when they need it.
Elements
a Display sensitivity, empathy and cultural awareness
in all your communications. This allows you to
establish trust and credibility with a range of
stakeholders and gain their confidence.
b Use a range of mediums and make appropriate
use of IT to communicate clearly, concisely and
persuasively in formal and informal situations.
c Gain commitment from stakeholders by consulting and
influencing them to solve problems, meet objectives
and maximise mutually beneficial opportunities.
d Develop and build effective and ethical
professional relationships and networks.
e Deal calmly and efficiently with conflicting
priorities, deadlines or opinions both internally
and externally by listening and negotiating.
Using media and technology to contribute to businessrelated discussions for example, contributing
to intranet community conversations, hosting
teleconferences or making online presentations.
Presenting internally or externally.
Participating effectively in interviews.
Drafting reports effectively.
Dealing well with conflicting deadlines or requirements.
Acting responsibly and with maturity
when there are disagreements.
Addressing service level complaints.
Engaging with internal customers
throughout the organisation.
Discussing expectations of your work with your supervisor.
Working within your supervisors requirements
and giving them regular progress updates.
Networking at conferences, internally or
by joining business-related groups.
Linked exams
F1, Accountant in Business
F7, Financial Reporting
P1, Governance, Risk and Ethics
P2, Corporate Reporting
P3, Business Analyst
P4, Advanced 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.
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK
Technical
Performance
Objectives
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 or 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 youre using accounting standards and policies
when youre processing transactions and events.
Linked exams
F3, Financial Accounting
F7, Financial Reporting
P2, Corporate Reporting.
PO7 PREPARE EXTERNAL FINANCIAL REPORTS
Description
You take part in preparing and reviewing financial statements
and all accompanying information and you do it in
accordance with legal and regulatory requirements.
Elements
a Contribute to drafting or reviewing primary financial
statements according to accounting standards and
legislation.
b Make sure that your organisational policies are fit for the
purpose of preparing external financial statements.
c Classify information correctly.
d Review financial statements and correct for errors and
account for or disclose events after the reporting date.
e Prepare or review narrative and quantitative information to
include with financial statements.
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK
Linked exams
F3, Financial Accounting
F7, Financial Reporting
P2, Corporate Reporting.
PO8 ANALYSE AND INTERPRET FINANCIAL REPORTS
Description
You analyse financial statements to evaluate and assess the
financial performance and position of an entity.
Elements
a Assess the financial performance and position of an entity
based on financial statements and disclosure notes.
b Evaluate the effect of chosen accounting policies on the
reported performance and position of an entity.
c Identify inconsistencies between the information in the
financial statements of an entity and any accompanying
narrative reports.
d Evaluate the effects of fair value measurements and any
underlying estimates on the reported performance and
position of an entity.
e Conclude on the performance and position of an entity
identifying relevant factors and make recommendations to
management.
Linked exams
F3, Financial Accounting
F7, Financial Reporting
P2, Corporate Reporting.
PO9 EVALUATE INVESTMENT AND FINANCING
DECISIONS
Description
You advise on alternative sources of finance. And you evaluate
and review the financial viability of investment decisions.
Elements
a Advise on the appropriateness and cost of different sources
of finance.
b Identify and raise an appropriate source of finance for a
specific business need.
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK
Linked exams
F2, Management Accounting
F5, Performance Management
P3, Business Analyst
P5, Advanced Performance Management.
PO13 PLAN AND CONTROL PERFORMANCE
Description
You plan business activities and control performance, making
recommendations for improvement.
Elements
a Contribute to setting objectives to plan and control
business activities.
Linked exams
F9, Financial Management
P1, Governance, Risk and Ethics
P4, Advanced Financial Management.
Linked exams
F2, Management Accounting
F5, Performance Management
P1, Governance, Risk and Ethics
P3, Business Analyst
P5, Advanced Performance Management.
Description
You apply different management accounting techniques in
different business contexts to effectively manage and use
resources.
Elements
a Evaluate management accounting techniques and
approaches in an organisation.
b Apply appropriate costing techniques to products and
services.
c Assess and advise on the impact of an organisations
management accounting and information systems.
d Contribute to developing and improving management
accounting systems and internal reporting.
e Monitor new developments in management accounting
and consider their potential impact on performance and
systems.
10
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK
Linked exams
F2, Management Accounting
F5, Performance Management
P5, Advanced Performance Management.
Linked exams
F6, Taxation
P6, Advanced Taxation.
Linked exams
F6, Taxation
P6, Advanced Taxation.
Description
You make sure that individuals and entities comply with their
tax obligations on time, and in the spirit and letter of the law.
Description
You plan and control the engagement process, including
the initial investigation. You also plan and monitor the audit
programme legally and ethically.
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.
Elements
a Become familiar with the scope and services to be
provided.
b Identify ethical requirements at the start of an engagement
or internal audit investigation.
c Use up-to-date auditing standards and legal and ethical
frameworks.
11
ACHIEVE
PERFORMANCE OBJECTIVES HANDBOOK
Description
You complete an audit, preparing the formal documentation
and reporting any control deficiencies to management. You
report back to managers in a formal audit report.
Linked exams
F8, Audit and Assurance
P7, Advanced Audit and Assurance.
PO19 COLLECT AND EVALUATE EVIDENCE FOR AN
AUDIT
Description
Carry out an internal or external audit from collecting
evidence, through to forming an opinion. You demonstrate
professional scepticism and make sure judgements are based
on sufficient valid evidence.
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.
d Assess that the audit evidence is sufficient and appropriate.
e Identify the main factors to be considered before forming
an opinion and reaching judgements.
Linked exams
F8, Audit and Assurance
P7, Advanced Audit and Assurance.
12
Elements
a Review the performance of an audit; making sure that the
evidence is accurate, complete and sufficient.
b Contribute to identifying and resolving audit issues and
make sure there are no outstanding queries.
c Discuss the findings and implications of an audit with
management and governance teams.
d Draft written representations and report significant control
deficiencies to management and governance teams.
e Prepare audit reports in accordance with relevant
standards, regulations and legislation.
Linked exams
F8, Audit and Assurance
P1, Governance, Risk and Ethics
P7, Advanced Audit and Assurance
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