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CPA Program

The practical experience guide and logbook

If you require further information about the practical experience requirement, or would like to notify us of a change, please contact CPA Australia: practicalexperience@cpaaustralia.com.au or contact your local office – details can be found on the inside back page of this guide. Disclaimer The material used in this booklet has been designed and prepared for CPA Australia’s practical experience requirement. It provides tailored guidance for mentors who are registered in CPA Australia’s practical experience requirement. The booklet and contents should not be used for any other purpose. CPA Australia, the publisher and the author of this booklet take no responsibility for any loss incurred by any person who relies on guidance offered in this booklet. Legal notice Copyright CPA Australia Ltd (ABN 64 008 392 452) (“CPA Australia”), 2010. All rights reserved. Save and except for third party content, all content in these materials is owned by or licensed to CPA Australia. All trade marks, service marks and trade names are proprietory to CPA Australia. For permission to reproduce any material, a request in writing is to be made to the Legal Business Unit, CPA Australia Ltd, 385 Bourke Street, Melbourne, Victoria 3000. CPA Australia has used reasonable care and skill in compiling the content of this material. However, CPA Australia and the editors make no warranty as to the accuracy or completeness of any information in these materials. No part of these materials are intended to be advice, whether legal or professional. Further, as laws change frequently, you are advised to undertake your own research or to seek professional advice to keep abreast of any reforms and developments in the law. To the extent permitted by applicable law, CPA Australia, its employees, agents and consultants exclude all liability for any loss or damage claims and expenses including but not limited to legal costs, indirect special or consequential loss or damage (including but not limited to, negligence) arising out of the information in the materials. Where any law prohibits the exclusion of such liability, CPA Australia limits its liability to the re-supply of the information.

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Contents

1 The practical experience requirement

1

Overview of the practical experience requirement Introduction to the practical experience requirement The practical experience requirement guide Making it happen Time requirements of the practical experience requirement Structure of the practical experience requirement Selecting sub-skills within the technical skill areas Documenting the evidence How to use the practical experience logbook Confidentiality Your mentor The role of the mentor Tips on maintaining a successful mentoring relationship Things to do (and NOT to do) Communication plan What if the relationship doesn’t work? Completing the practical experience requirement Collecting workplace evidence The practical experience testimonial Claim the time Time to advance Useful information Official start date Recognition of prior experience Working part-time Withdrawing as a member of CPA Australia Deferring the practical experience requirement Practical experience audit FAQs Resources My Online Learning Practical experience requirement video interviews Experience the PER CPA Australia’s website CPA Australia’s Library The practical experience guide and logbook A guide for mentors

3 3 4 5 5 5 6 6 6 6 7 7 7 7 8 8 9 9 9 9 9 10 10 10 10 10 10 10 11 12 12 12 12 12 12 13 13

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2 Skill areas

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Understanding the practical experience skill areas Skill areas Sub-skills Relevant workplace evidence Terminology used Skill areas
3 Practical experience logbook

17 17 17 18 18 19
43

Using the practical experience logbook Practical experience logbook
4 Forms

45 47
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Summary of Practical Experience Requirement forms CPA Australia offices

53 71

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CPA Program
1 The practical experience requirement

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Overview of the practical experience requirement
This section contains: + an introduction to the practical experience requirement; + information on the practical experience requirement guide. + The leadership skills develop the ethical, governance, planning and decision making skills you will require to realise your potential as a leader. The PER is designed to align with the professional level of the CPA Program (see Figure 1). Completion of the PER is a rewarding experience for you, as the mentee, and your mentor, both professionally and personally. You will receive support from your mentor through having access to his or her expertise, skills and insights. The PER complies with IFAC’s International Educational Standard Practical Experience Requirement (IES 5). According to IFAC, completion of a structured practical experience program will: + enhance your understanding of organisations, of how business works and of work relationships; + enable you to relate accounting work to other business functions and activities; + develop your awareness of the environment in which services are provided; + develop the appropriate professional values, ethics and attitudes in practical and real-life situations; and + provide you with the opportunity to work at progressively higher levels of responsibility (IES 5, para. 17). Importantly, completion of the PER allows you to meet CPA Australia’s practical experience requirements for advancement to CPA status.

Introduction to the practical experience requirement
The three-year practical experience requirement (PER) provides a competency framework for developing and demonstrating practical workplace skills at a professional level in accounting and/or finance. Under the supervision of an eligible mentor, you will benefit from the knowledge and experience of established members of the profession while developing the skills, knowledge and values required of a CPA. The PER provides the opportunity to develop your technical, business, personal effectiveness and leadership skills. The combination of these different skills will assist you to become a work-ready professional accountant and realise your potential as a future business leader. + The technical skills develop the practical application of your proficient expertise in accounting and finance. + The business skills develop the skills expected of you as a professional in a business environment. + The personal effectiveness skills develop the communication, interpersonal and self-management skills required in the workplace. Figure 1: CPA Program pathways

program
Foundation Level.
F F F F F F F F
IT & Business Processes Economics & Markets Foundations of Accounting Fundamentals of Business Law Business Finance Financial Accounting & Reporting Management Accounting Accounting Concepts & Principles

Professional Level.
P P P E1 E2 P
Ethics & Governance Strategic Management Accounting Financial Reporting Elective #1 Elective #2 Global Strategy & Leadership

Choose two possible Electives.
E E E E
Advanced Taxation Financial Risk Management Advanced Audit & Assurance Contemporary Business Issues

P

P

P

E1

E2

P

Professional Level
F F F F F F F F

Foundation Level

Practical Experience Requirement (PER)

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The practical experience requirement guide
This practical experience requirement (PER) guide includes: + details of the skills for which you must demonstrate competence to meet the PER and examples of workplace evidence that can be used to demonstrate these skills; + a communication plan for you and your mentor; + a practical experience logbook to record your skills achievement; and + useful resources to assist you through your time on the PER. Your mentor will receive a ‘Guide for mentors’, which contains information on their role and responsibilities.

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Making it happen
This time requirement can vary due to: + recognition of prior experience; + part-time work, as you will be required to work the equivalent of three years’ full-time; + a lack of exposure to relevant work in the fields of accounting, business or finance—that is, it may take longer to develop skills and knowledge (e.g. if you are initially in a book keeping role); + not following the correct ‘change of mentor’ policies; and + being audited and failing to meet the practical experience requirements. Time requirement calculations for the PER will commence when CPA Australia receives a completed enrolment from you.

This section contains information on: + the time requirements of the practical experience requirement; + the structure of the practical experience requirement; + selecting sub-skills within technical skill areas; + documenting the evidence; + how to use the practical experience logbook; and + confidentiality.

Time requirements of the practical experience requirement
To satisfy the time requirements of the practical experience requirement (PER), you must complete the full-time equivalent of three years’ experience. Full-time is based on 35 hours a week for 44 working weeks of the year. This allows a maximum eight weeks of leave per year, which is based on four weeks annual leave, two weeks of public holidays and two weeks of sick leave per year. Part-time work is calculated on a pro rata basis. The formula to determine part-time experience is: 35 (full-time hours) divided by = result. The result is then multiplied by three years

Structure of the practical experience requirement
To complete the PER, you must demonstrate 100 per cent competence in these areas: + technical skills; + business skills; + leadership skills; and + personal effectiveness skills. Each skill is made up of sub-skills. These sub-skills are the individual components of a skill area in which you will need to demonstrate competence (see Figure 2).

Figure 2: Practical experience requirement skill areas

Technical Skills

Personal Effectiveness Skills

Business Skills

Leadership Skills

Mentees must provide their Mentees must provide their Mentees must provide their Mentees must provide mentor with workplace mentor with workplace mentor with workplace their mentor with workplace evidence for all four evidence for all four evidence for all four evidence for four sub-skills sub-skills. sub-skills. sub-skills. which can be selected from up to four different areas The mentor uses the The mentor uses the The mentor uses the of work. evidence to assess the evidence to assess the evidence to assess the mentee's competence. mentee's competence. mentee's competence. The mentor uses the evidence to assess the mentee's competence.
• Auditing • Financial Accounting
OR K

• Self Awareness • Building Relationships and Interpersonal Skills • Business Communication • Critical Analysis and Professional Judgement

• Regulatory Environment • Leveraging Technology • Domestic and Global Business Context • Business Analysis and Risk Management

• Ethics and Governance • Diversity Consciousness • Planning and Innovative Thinking • Problem Solving and Decision Making

W EA AR S OF

• Financial Planning

• Financial Risk Management

• Insolvency

• Management Accounting

• Taxation

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For the business, leadership and personal effectiveness skill areas, you must demonstrate competence in all four sub-skills in each skill area. For the technical skills, there are seven areas of work; each area of work has four sub-skills. You must demonstrate competence in four sub-skills. They do not have to be all in the same area of work. The four sub-skills can be selected from different areas of work.

1 It must be valid—does it directly reflect what is in the practical experience logbook? 2 It must be authentic—is it your own work? 3 It must be current—is it based on a skill you can still perform? 4 There must be sufficient evidence to demonstrate attainment of the relevant workplace skill. These criteria appear on the practical experience testimonial and your mentor must be able to confirm that your evidence has met these criteria.

Selecting sub-skills within the technical skill areas
Review the technical skills. There are seven areas of work, and each contains four sub-skills.

How to use the practical experience logbook
The practical experience logbook will assist you to document your workplace evidence and demonstrate skills to your mentor. You will need to: 1 Choose the sub-skill for which you will collect workplace evidence for. 2 Present relevant workplace evidence to your mentor to demonstrate competence. 3 Record the type of workplace evidence you presented to the mentor. 4 Record your communication in your communication log. 5 Arrange for your mentor to sign off your achievement by signing and dating the sub-skill in your practical experience logbook. Note: If you are selected for audit, you will need to submit your logbook and communication log.

Together with your mentor, consider which four technical sub-skills you will demonstrate competence. They can be from four different areas of work based on your current work, relevance or particular interests. Think about tasks you complete within your role, not your job title. Refer to the description of the sub-skills to decide where your role fits in and which sub-skills are achievable.

If all of your practical experience has been in one area, such as auditing, you should be able to demonstrate competencies to satisfy all four of the auditing sub-skills. OR Your practical experience may be in more than one area, if, for instance, you have had different roles or participated in a graduate program. If this applies to you, you may chose sub-skills from different areas of work.

Documenting the evidence
Workplace evidence is the information you provide to your mentor that demonstrates your competence in an individual sub-skill. It does not have to be long or complex, and it can be a spreadsheet, a work plan or a timetable. The evidence must demonstrate mastery of a particular sub-skill. The mentor makes the final judgement as to whether your evidence meets the requirements. To fulfil CPA Australia requirements, workplace evidence must satisfy the following rules of evidence:

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Confidentiality
If your mentor is not a staff member at your workplace and you feel that confidentiality may become an issue, you may need to ‘black out’ any sensitive information or summarise the workplace evidence. The ‘Evidence of knowledge’ form, included in this guide, can be used to demonstrate up to 50 per cent of the technical skills to overcome confidentiality issues.

Your mentor
Tips on maintaining a successful mentoring relationship
The following tips are provided to help you maintain a successful relationship with your mentor: + ensure that you maintain a professional relationship with your mentor at all times; + meet or communicate regularly about your progress on the PER; + schedule your meetings or communication ahead of time; + be proactive in communicating with your mentor; and + use your mentor’s guidance and expertise when needed to assist you in finding solutions to a problem.

This section contains information on: + the role of your mentor; + tips on maintaining a successful mentoring relationship; + things to do (and not to do); + a communication plan; + what to do if the relationship doesn’t work?

The role of the mentor
Your mentor will have a lot of knowledge and experience to offer. If possible, it is preferable that your mentor is your manager or direct supervisor. Your mentor must have CPA/FCPA status or be a full member of an IFAC membership body. A listing of such bodies can be found at web.ifac.org/about/member-bodies. The role of your mentor is to: + act as a sounding board and provider of information; + share knowledge and experiences with you; + sign off on demonstrated skills in the practical experience logbook; + sign the practical experience testimonial that states that you have gained the skills required and that the evidence provided is valid, authentic, current and sufficient; + guide you in collecting the most appropriate workplace evidence; and + not coach or tutor you for CPA Program studies.

Things to do (and NOT to do)
Do:
+ focus on what you want to achieve; + take responsibility for the action plan; + share your experiences; + ask for guidance; + stay in regular contact; + provide positive feedback; + listen and learn; + be proactive and drive the relationship; and + approach your mentor when you need to.

Don’t:
+ do all the talking—listen to what your mentor has to say or suggest; + ask your mentor to make decisions for you; + lose contact; + provide negative feedback; + wait for your mentor to make contact with you; and + ask your mentor for assistance with CPA Program studies.

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Communication plan
During a mentoring relationship, it is recommended that you communicate regularly with your mentor—a minimum contact of 10 hours is recommended per year. There are four important stages during the mentoring relationship.

practical experience requirements, so it is important to complete this document carefully with your mentor. + If you have not signed off any skills during the relationship, then if agreed, the mentor can still sign off on the length of the relationship. It is important for you to be able to claim this time.

Stage 1—Getting to know each other
+ Contact your mentor after you have downloaded your practical experience guide and logbook and ensure he or she has a copy of the ‘Guide for mentors’. + Take responsibility for reading the information and getting to know the requirements so that you can explain details to your mentor. + Organise a schedule and diarise your meetings, agreeing on times and appropriate places to meet. + During your first meeting or communication with your mentor, complete the ‘Personal development’ form, which will give your mentor background information to help assist you effectively.

What if the relationship doesn’t work?
Mentoring relationships do not always work out. If this happens in your case, maintain your professionalism and be proactive about resolving the issue. This may include finding a new mentor, if necessary, or communicating and negotiating with your mentor further so you can make it work. Taking responsibility for resolving the situation will avoid any delays in advancement to CPA status. Time you are not being mentored (without any contact time) may not be able to be included as part of your three-year requirement. Refer to the ‘Change of mentor and employer contact’ form. Either you or your mentor may choose to end the mentoring relationship at any time. If you change mentors, ensure that you arrange a final meeting with your former mentor to sign off on time/skills have achieved.

Stage 2—Planning ahead
+ Write a list of the day-to-day tasks you currently carry out and the type of workplace documents you produce. This will help you and your mentor determine which areas of work may be most appropriate.

Stage 3—Demonstrating your skills
+ As you progress through the PER, you will need to show your mentor your workplace evidence to demonstrate that you have developed the various sub-skills. + Your mentor will need to sign off on the sub-skills in the practical experience logbook that you have demonstrated satisfactorily. + Keep the logbook up-to-date by signing off the sub-skills set as you demonstrate them to your mentor.

Stage 4—Concluding the mentoring relationship
+ Remember, this is a professional relationship and should be concluded in a professional way. + Advise your mentor of your intention to end the mentoring relationship. + It is important to ask your mentor to complete a practical experience testimonial to confirm the time and skills achieved during the mentoring relationship. It is the only form CPA Australia will accept to demonstrate your
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Completing the practical experience requirement
This section contains information on: + collecting workplace evidence; + the practical experience testimonial; + claiming time; + advancing to CPA status.

The practical experience testimonial
You must submit all of your practical experience testimonial form to CPA Australia when you are ready to advance to CPA status. This form allows you to claim time requirements and/or skill requirements that were achieved during a mentoring relationship. If you changed mentors, you will need one practical experience testimonial from each of your mentors. When you have completed your PER, your current employer contact will also provide final sign off.

Collecting workplace evidence
There are four simple steps to complete the PER: 1 Decide Together with your mentor, review the technical areas of work and sub-skills you would like to complete.

Claim the time
If the mentoring relationship ends before you presented any workplace evidence or gained any skills, the mentor should still sign the practical experience testimonial form if the time requirements were met—a minimum of 10 hours of communication per year. This will allow you to claim the time spent as ‘mentored work experience’. It is your responsibility to have the mentor sign the relevant section of the testimonial.

2 Plan Discuss what workplace evidence will be collected to demonstrate your technical, business, personal effectiveness and leadership skills. Communicate with your mentor for a minimum of 10 hours per year. Use your communication log to record your communication.

3 Review Review and discuss your progress. Your mentor will need to see workplace evidence to confirm it meets the rules of evidence. Use the meetings with your mentor to discuss your workplace evidence and skills development. Your mentor will then be able to sign in your logbook that you have demonstrated those sub-skills.

4 Document If the evidence complies, record it in the description of workplace evidence column of the skill set in the practical experience logbook. You can then sign off that sub-skill in your logbook. Your mentor will sign and date this sub-skill achievement.

4 4 4

Time to advance
When you have successfully completed the CPA Program professional level and met the PER you will be eligible to advance to CPA status. To advance to CPA status, you will need to submit your fully completed practical experience testimonial/s. Refer to the practical experience testimonial for more information on how to advance to CPA status, or refer to the CPA Australia website at cpaaustralia.com.au/advancements.

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Useful information
Deferring the practical experience requirement
The PER is based on attaining work skills. Time you are not working will not be included as part of your PER. There is no need to inform CPA Australia to defer involvement in the PER. You should: 1 Advise your mentor of your intentions and confirm whether you intend to continue the relationship with him or her. 2 Have a final meeting and ask the mentor to sign off on any skills achieved by completing a practical experience testimonial (just in case you lose contact). 3 Retain your PER guide and logbook verified documentation for future reference.

This section contains information on: + your official start date; + recognition of prior experience; + working part-time; + withdrawing as a member of CPA Australia; + deferring the PER; + a practical experience audit; and + frequently asked questions (FAQs).

Official start date
Your official start date of the PER is the date your completed PER enrolment form is received by CPA Australia. Therefore, your 3 year time requirement is counted from this date.

Recognition of prior experience
CPA Australia recognises prior professional experience and full membership with a recognised equivalent professional body. For detailed information, go to cpaaustralia.com.au/ rpe_exemptions.

Practical experience audit
CPA Australia may select you for audit, the objective is to verify that you have met all of the requirements by confirming that: + you actively participated in the PER for the specified time; + you planned your evidence-gathering process and met the appropriate requirements for the skills; and + evidence of knowledge forms and testimonials have been used and completed correctly. You will have to supply the following further documentation to support your claim to advance to CPA status: + ‘Evidence of knowledge’ form to verify evidence other than workplace evidence. + Communication logs to demonstrate consistent communication with your mentor. + Note that for confidentiality reasons, you will not be asked to submit actual workplace evidence or company documents.

Working part-time
The PER is based on a 35-hour week. If you are working less than 35 hours per week, your time will be calculated on a pro-rata basis. This will increase the amount of time you need to spend on the PER. The formula to determine part-time experience is: 35 (full-time hours) divided by = result. The result is then multiplied by three years.

Withdrawing as a member of CPA Australia
If you wish to resign as a member of CPA Australia and no longer wish to receive information about the PER, please email CPA Australia at practicalexperience@cpaaustralia.com.au. Further, you should: 1 Advise your mentor of your intention and ensure he or she signs relevant documentation in case you decide to resume your membership. 2 Retain your PER guide and verified documentation for future reference.
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FAQs
What happens if I demonstrate all of my skills in less than three years? The time requirement is a minimum of three years and there is no ‘fast-tracking’ through the program. Make the most of the relationship with your mentor by setting career goals or further developing your skills and gaining exposure to different areas in the workplace. How do I notify CPA Australia if I want to change mentors? You will need to complete a ‘Change of mentor and employer contact’ form. You will find a copy in the forms section of this guide. How long do I have to find another mentor? You have 30 days to nominate a new mentor. If you have commenced a new mentoring relationship and have not informed CPA Australia, you risk losing this time as part of your time. Contact CPA Australia if you have been unable to advise the change within the allocated time frame. My employer contact left my workplace, what should I do? You will have to let CPA Australia know of any changes to your employer contact details. Submit a ‘Change of mentor and employer contact’ form as soon as the change occurs. Where do I record my progress? The practical experience logbook allows you to record your progress through your demonstration of sub-skills. Your mentor will be required to sign off on these sub-skills after he or she views your workplace evidence. There are also various forms in this guide which allow you to track your communication and meetings. Ensure you bring this guide and logbook with you to every meeting with your mentor. How do I demonstrate what I have completed with my mentor? At the end of a mentoring relationship, you must always complete a practical experience testimonial, even if you are only able to claim the length of time you spent with your mentor. I have used all the forms in the guide? What can I do? You may wish to make photocopies of your forms or you can download the guide, logbook and forms from CPA Australia’s website. Please visit cpaaustralia.com.au/per_ logbookguide.

When I apply for advancement to CPA status, will CPA Australia request any of my workplace evidence? At no stage will we request that you send in actual workplace evidence. A random number of members will be selected for audit to verify compliance with the practical experience requirements. If selected for audit, you may need to submit your completed logbook and some of the forms. This information must indicate that you have actively participated in PER and have met all of the formal requirements. If I am not working in an accounting or finance role, can I still participate in the PER? If you are not working in an accounting or finance role that requires the knowledge learnt at the foundation level, you will not be able to meet the technical requirements of the PER. I am working in an accounts payable or receivable or book-keeping role. Am I able to participate in the PER? Entry level accounting or finance work such as bookkeeping, payroll or accounts receivable/payable roles provide a good foundation to be able to move into professional accounting roles. Members working in these roles can enrol into the PER, but it may take longer than three years to meet the requirements. I am unable to meet face to face with my mentor on a regular basis. How do I get him/her to sign-off all the relevant skills? If you are unable to meet, send a copy of the logbook to your mentor to sign, date and return to you. You must keep the signed copy in case you are selected for audit. Complete your communication log form so you have a record of all communication between you and your mentor.

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Resources
+ useful hints and tips on completing the PER; + mini-movies that demonstrate how a mentoring relationship may be conducted; and + a list of website resources. For help accessing My Online Learning, email myonlinelearning@cpaaustralia.com.au or phone 1300 857 705 (Australia) or + 800 272 272 77 (international). Support hours are Monday to Friday 8.30 a.m. to 5.30 p.m. AEST.

This section contains information on: + My Online Learning; + CPA Australia’s website; + CPA Australia’s library; + the practical experience requirement guide and logbook; + a guide for mentors.

My Online Learning
My Online Learning, CPA Australia’s online learning platform, allows you to update your skills, claim CPD hours or complete the study components of the CPA Program. With a wide range of online courses, it provides you with the opportunity to learn from home at a time that suits you. CPA Australia recommends that you access this learning tool as soon as you enrol in the PER.

CPA Australia’s website
CPA Australia’s website contains all of the information and resources that you need for your journey to become a CPA. In particular, it has the most up-to-date information on the PER. You will have access to download the forms you need, read frequently asked questions and update your member profile. Go to cpaaustralia.com.au/practicalexperience.

Practical experience requirement video interviews
Use our online video interviews to discover the benefits of mentoring and find out how you can use the PER to build your career and business networks. The interviews feature a wide range of mentors and mentees, showing how positive work plans and regular communication can lead to strong working relationships and help build wide professional networks. The four videos provide information on: + beginning the program; + communication between the mentor and mentee; + working through the program requirements; and + developing your career by participating in the program.

CPA Australia’s Library
The CPA library database is a catalogue of the material held by the CPA Australia library, allowing members to search, reserve, request and renew items online. Go to cpaaustralia.com.au/library and select ‘Subject search’ which appears under the ‘Tools’ section. Enter the term ‘Mentoring’ and from the resulting list of terms select the most appropriate subject heading. ProQuest is an online database that provides access to over 4800 publication titles, including 2500 journals, with 1700 available in full text. ProQuest enables you to search a vast electronic resource, including ABI/IFORM Global (containing the world’s leading business and management journals). Go to cpaaustralia.com.au/library and click on the ‘ProQuest’ link which appears under the ‘Tools’ section. If you require any assistance using the CPA Library online, please contact your nearest CPA Library on 1300 73 73 73 or email cpalibrary@cpaaustralia.com.au. For further information, go to cpaaustralia.com.au/practicalexperience under ‘Resources’, click on ‘Library resources’.

Experience the PER
Build your knowledge through this engaging and interactive visual learning tool designed to guide you through your journey on the practical experience requirement. This tool contains: + an engaging overview of the PER for both mentees and mentors; + information on the requirements and technical aspects of the program;

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The practical experience guide and logbook
The practical experience guide and logbook contains most of the information you need to meet the practical experience requirements and should be brought to all meetings with your mentor. While completing the PER, you will be required to keep your practical experience logbook up-to-date and complete some of the forms. Some of this information will be requested before you advance to CPA status or if you are selected for audit.

A guide for mentors
A guide for mentors will be available to your mentor once you enrol in the PER. This resource explains the role and responsibilities of a mentor and describes what is required for you to advance to CPA status. You may access this guide on our website at cpaaustralia.com.au/mentorrole.

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CPA Program
2 Skill areas

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Understanding the practical experience skill areas
This section contains information on: + skill areas; + sub-skills; + relevent workplace evidence; and + terminology used The practical experience requirement (PER) provides a framework that allows you to develop practical skills at a professional level in the areas of accounting and/or finance. This section provides an outline of the requirements to complete the PER. Together with your mentor, consider which four technical sub-skills you will demonstrate your competence. This will be based on your current work, relevance or particular interests. For example, if all of your practical experience will be in one area of work, such as auditing, you should be able to demonstrate competencies to satisfy all four of the auditing sub-skills. Your practical experience may be in more than one area if, for instance, you have had different roles or have participated in a graduate program. If this applies to you, you may chose sub-skills from areas of work. The sub-skills listed for business, personal effectiveness and leadership are generic skills, and as a professional accountant you are expected to have all of these skills to be able to work effectively in a professional environment. Therefore, you must demonstrate 100 per cent competence in all four sub-skills in the areas of business, personal effectiveness and leadership.

Skill areas
As the mentee, you will need to show 100 per cent competence in the following: + technical skills; + business skills; + personal effectiveness skills; and + leadership skills (see Figure 3). Technical skills are divided into seven different areas of work, within each of these areas are four sub-skills. You must demonstrate competence in four technical sub-skills. These sub-skills can be selected from different areas of work.

Sub-skills
Each sub-skill includes a functional definition (see Figure 4), suggested ways that you can demonstrate your competence and possible ways for your mentor to assess your competence. Your mentor is also required to exercise professional judgement in assessing your competence. Each sub-skill is presented in the same format.

Figure 3: Practical experience requirement skill areas

Technical Skills

Personal Effectiveness Skills

Business Skills

Leadership Skills

Mentees must provide their Mentees must provide their Mentees must provide their Mentees must provide mentor with workplace mentor with workplace mentor with workplace their mentor with workplace evidence for all four evidence for all four evidence for all four evidence for four sub-skills sub-skills. sub-skills. sub-skills. which can be selected from up to four different areas The mentor uses the The mentor uses the The mentor uses the of work. evidence to assess the evidence to assess the evidence to assess the mentee's competence. mentee's competence. mentee's competence. The mentor uses the evidence to assess the mentee's competence.
• Auditing • Financial Accounting
OR K

• Self Awareness • Building Relationships and Interpersonal Skills • Business Communication • Critical Analysis and Professional Judgement

• Regulatory Environment • Leveraging Technology • Domestic and Global Business Context • Business Analysis and Risk Management

• Ethics and Governance • Diversity Consciousness • Planning and Innovative Thinking • Problem Solving and Decision Making

W EA AR S OF

• Financial Planning

• Financial Risk Management

• Insolvency

• Management Accounting

• Taxation

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Figure 4: Sub-skill functional definition
Skill area Area of work Sub-skill An explanation of the skill in which you should be competent Code

Technical Skills—Auditing

AUD1

Planning an audit
Competency: The mentee should demonstrate the ability to contribute to the planning of an audit.
To be competent, the mentee should demonstrate the ability to: • undertake background research • identify key stakeholders • contribute to the preparation of a draft audit proposal, agreement and budget • contribute to the briefing of an audit team. To assess and measure the mentee’s competence, a mentor could request that the mentee: • undertake background research on client’s industry and business environment • identify key stakeholders for the audit • contribute to the preparation of a draft audit proposal, audit agreement and budget • contribute to the briefing of an audit team on parameters and criteria for audits. Examples of evidence might include:

• a list of audit stakeholders • documents relating to a client’s business environment and regulatory and compliance issues • copies of draft audit proposals, agreement and budget notes together with working or meeting notes • meeting notes from staff or client discussions on draft reports.

An explanation of requirements to demonstrate you are competent

Ways your mentor can assess that you are competent

Examples of work place evidence you can show to your mentor to demonstrate that you are competent

Relevant workplace evidence
Your workplace evidence is the information you provide to demonstrate the sub-skill. The same workplace evidence (e.g. client notes) may apply to different sub-skills or in some cases to different areas of work. The suggested workplace evidence listed in the sub-skill functional definitions contain examples only. You and your mentor can discuss and agree on the most appropriate workplace evidence to demonstrate the relevant skills.

Terminology used
The terminology used to describe various sub-skills and workplace evidence is general as it must apply to many different working situations. You may need to adapt certain words to apply to your individual situation. For example, ‘clients’ can refer to internal or external stakeholders depending on the kind of environment you work in and the type of job you have. ‘Business’ can include a whole business, a single business unit or product line, various public entities such as schools or public or private hospitals, or high-wealth individuals. The logbook can be downloaded from the CPA Australia website and saved as a working document. This will allow you and your mentor to update it electronically.

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Skill areas

Skill

Code

Area of work

Sub-skills

Technical

AUD1 AUD2 AUD3 AUD4 FAC1 FAC2 FAC3 FAC4 FPL1 FPL2 FPL3 FPL4 FRM1 FRM2 FRM3 FRM4 INS1 INS2 INS3 INS4 MAN1 MAN2 MAN3 MAN4 TAX1 TAX2 TAX3 TAX4

Auditing

Planning an audit Performing an audit Promoting audit awareness Audit control and improvement

Financial Accounting

Financial reporting requirements Processing of financial information Preparation of financial reports Reliability of financial information

Financial Planning

Defining a client’s situation Developing a financial plan Implementing a financial plan Reviewing a financial plan

Financial Risk Management

Establishing financial objectives Monitoring the financing operations Managing financial risk Financial control systems

Insolvency

Assessing a competitive position Options for those facing insolvency Managing a reconstruction Liquidating a company

Management Accounting

Setting an organisation’s direction Design of organisational processes Performance measurement Financial control and systems

Taxation

Determining an organisation’s tax position Tax effective planning Promoting tax awareness Tax representation Regulatory environment Leveraging technology Domestic and global business context Business analysis and risk management Self awareness Building relationships and interpersonal skills Business communication Critical analysis and professional judgement Ethics and governance Diversity and consciousness Planning and innovative thinking Problem solving and decision making

Business

BUS1 BUS2 BUS3 BUS4

Personal effectiveness

PER1 PER2 PER3 PER4

Leadership

LEA1 LEA2 LEA3 LEA4

19

Technical Skills—Auditing

AUD1

Planning an audit
Competency: The mentee should demonstrate the ability to contribute to the planning of an audit.
To be competent, the mentee should demonstrate the ability to: • undertake background research • identify key stakeholders • contribute to the preparation of a draft audit proposal, agreement and budget • contribute to the briefing of an audit team. To assess and measure the mentee’s competence, a mentor could request that the mentee: • undertake background research on client’s industry and business environment • identify key stakeholders for the audit • contribute to the preparation of a draft audit proposal, audit agreement and budget • contribute to the briefing of an audit team on parameters and criteria for audits. Examples of evidence might include:

• a list of audit stakeholders • documents relating to a client’s business environment and regulatory and compliance issues • copies of draft audit proposals, agreement and budget notes together with working or meeting notes • meeting notes from staff or client discussions on draft reports.

Technical Skills—Auditing

AUD2

Performing an audit
Competency: The mentee should demonstrate the ability to participate in performing an audit.
To be competent, the mentee should demonstrate the ability to: • follow the communications strategy • select appropriate audit methodologies • to contribute to identifying auditing issues and analysing business and financial risks • contribute to preparing a draft audit report. To assess and measure the mentee’s competence, a mentor could request that the mentee: • follow an audit plan under supervision and be involved in selecting appropriate audit methodology • identify audit issues in relation to audit objectives • explain how they contributed to the preparation of a draft audit report • contribute to monitoring and evaluating an audit against objectives • gather data for use in benchmarking projects and contribute to the monitoring of the benchmarks. Examples of evidence might include:

• copies of progress reports to client and meeting notes from audit staff • a list of audit methodologies chosen and an explanation as to why each methodology was chosen • use of appropriate sampling techniques • business and financial risk analysis and test data relating to the client’s business • performance of tests which follow the audit program • draft audit reports and minutes from staff and client meetings regarding the report • research notes and discussion papers which identify auditing issues • benchmarking reports.

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Technical Skills—Auditing

AUD3

Promoting audit awareness
Competency: The mentee should demonstrate the ability promote audit awareness within the organisation or with clients.
To be competent, the mentee should demonstrate the ability to: • up-to-date knowledge of audit standards • explain any regulatory changes • include new audit methodologies. To assess and measure the mentee’s competence, a mentor could request that the mentee: • analyse and report on the need for regulatory change • classify the external environment which impact upon audits • summarise legislation, regulations, compliance issues and professional standards. Examples of evidence might include:

• a newsletter or technical update (which may be internal or external) to which the mentee contributed • notes from a presentation regarding changes in audit standards • documents of processes which compile and consolidate information on regulatory changes • recommendations and notes relating to proposed changes in practice as a result of changing contexts.

Technical Skills—Auditing

AUD4

Audit control and improvement
Competency: The mentee should demonstrate the ability to participate in the development and maintenance of audit controls and improvements in the audit process.
To be competent, the mentee should demonstrate the ability to: To assess and measure the mentee’s competence, a mentor could request that the mentee: Examples of evidence might include:

• contribute to developing and maintaining • demonstrate involvement in process of audit controls improvement • contribute to improving the audit • document involvement in the process. development and maintenance of audit controls.

• demonstrate involvement in process improvement • document involvement in the development and maintenance of audit controls.

21

Technical Skills—Financial Accounting

FAC1

Financial reporting requirements
Competency: The mentee should demonstrate the ability to contribute to determining the financial reporting requirements of an organisation.
To be competent, the mentee should demonstrate the ability to: • identify potential users and their information requirements • identify regulatory requirements and apply these requirement when preparing reports • monitor changes to these requirements • liaise with key stakeholders. To assess and measure the mentee’s competence, a mentor could request that the mentee: • document the financial reports that are required by their organisation or that of a client • list potential report users and identify which regulatory requirements are required to support their needs. Examples of evidence might include:

• a draft list of reports which are required by various stakeholders • presentations or briefing notes given to stakeholders on reporting requirements and the regulations that have to be adhered to (e.g. reports, notes or other documentation) • notes of research undertaken or training attended on changes to regulations which are applied to the organisation • description of the financial reporting regulatory environment in their employer’s or client’s industry.

Technical Skills—Financial Accounting

FAC2

Processing of financial information
Competency: The mentee should demonstrate the ability to process an organisation’s financial information to be used in financial reports.
To be competent, the mentee should demonstrate the ability to: To assess and measure the mentee’s competence, a mentor could request that the mentee: Examples of evidence might include:

• ensure that the information is recorded, • identify areas of ambiguity, analyse recognised and measured according to the associated risks and suggest regulatory requirements appropriate treatment • identify areas of ambiguity and determine • explain how financial information is appropriate feedback processed by the organisation • operate an accounting software package • demonstrate how they ensure that information is recorded, recognised • act on feedback where necessary. and measured according to accounting standards and other regulatory requirements • explain an organisation’s policy on expense recognition, asset recognition and depreciation.

• an email/memo regarding an ambiguity, the risks and a suggestion as to how it can be resolved • draft trial balances and other reports to demonstrate how financial information is processed • a copy of an organisational policy with examples of how the policy effects the processing of financial information. • notes of a demonstration of the use of computer software • notes of research undertaken or training attended on changes to regulations, which apply to the organisation.

22

Technical Skills—Financial Accounting

FAC3

Preparation of financial reports
Competency: The mentee should demonstrate the ability to prepare draft and final financial statements of an organisation.
To be competent, the mentee should demonstrate the ability to: • ensure there is supporting documentations and reconciliations • prepare financial reports that meet the desired outcomes • prepare financial reports that meet all regulatory requirements • recognise when an expert’s opinion is required. To assess and measure the mentee’s competence, a mentor could request that the mentee: • provide financial reports they prepared according to schedules and identify external input • explain how they assisted an organisation in preparing accurate financial reports by identifying desired outcomes, gathering essential information, doing research and reviewing the compilation • demonstrate how financial statements are prepared in compliance with accounting standards and regulatory requirements • identify and document the need for expert opinion and document the reasons for expert opinion where necessary. Examples of evidence might include:

• financial reports prepared together with a working file consisting of supporting documentation • emails or memos that summarise research undertaken and information gathered, and the effect it will have on the preparation of financial statements • notes of research undertaken or training attended on changes to regulations which are applied to the organisation • copies of expert opinions sought together with why the information was sought.

Technical Skills—Financial Accounting

FAC4

Reliability of financial information
Competency: The mentee should demonstrate the ability to ensure that the financial information of the organisation is reliable.
To be competent, the mentee should demonstrate the ability to: • understand effective systems and assurance and the ability to assess their effectiveness • contribute to documenting effective systems and assurances • implement process that ensure that the financial information prepared is reliable • test and monitor relevant information systems and analyse associated risk. To assess and measure the mentee’s competence, a mentor could request that the mentee: Examples of evidence might include:

• explain how the effectiveness of systems • documentation that can include an and assurances can be documented email or memo written or minutes of a meeting to which they contributed, • demonstrate that they have tested and which documents the effectiveness of monitored relevant information systems systems and assurances for their effectiveness, including whether they are cost effective, meet reporting • test plans and/or reports, which needs, easy to use, accessible and summarise how information systems meet computer and non-computer were tested or monitored for their specifications effectiveness • demonstrate that they have analysed • a listing of financial reporting risks and the key financial reporting risks of possible solutions to reduce or manage an organisation. the risks.

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Technical Skills—Financial Planning

FPL1

Defining a client’s situation
Competency: The mentee should demonstrate the ability to contribute to establishing and defining a client’s situation.
To be competent, the mentee should demonstrate the ability to: • establish a client’s situation and define their needs • generate strategic options and explain them to a client. To assess and measure the mentee’s competence, a mentor could request that the mentee: • undertake and document a client’s situation • document the client’s needs or objectives. Examples of evidence might include:

• a list of variables affecting a person’s financial situation and ways in which it can be modelled • notes from a meeting with a client which explores the client’s needs • evaluation criteria for the review of strategic options, linking them with a client’s needs.

Technical Skills—Financial Planning

FPL2

Developing a financial plan
Competency: The mentee should demonstrate the ability to participate in developing a financial plan.
To be competent, the mentee should demonstrate the ability to: • contribute to establish the scope of the potential services to be offered and the associated strategic parameters • contribute to developing a plan with recommendations to implement strategies • conduct relevant research. To assess and measure the mentee’s competence, a mentor could request that the mentee: Examples of evidence might include:

• document the assignment and develop • details of the timing of various types of appropriate timelines for the assignment financial planning assignments • research critical issues and document • processes involved in conducting and their outcomes validating research • evaluate and present a range of options • practice policies and guidelines relating to developing and negotiating financial • canvas a range of options and document plans. the plan.

24

Technical Skills—Financial Planning

FPL3

Implementing a financial plan
Competency: The mentee should demonstrate the ability to participate in implementing a financial plan.
To be competent, the mentee should demonstrate the ability to: To assess and measure the mentee’s competence, a mentor could request that the mentee: Examples of evidence might include:

• define key assumptions • conduct analysis and modelling exercises • a list of key strategic assumptions for a range of clients • establish actions, some of which may be • explain the relevant practice policy to follow client instructions and procedures for implementing • procedures for providing ongoing financial plans financial services relating to financial • provide services to defined standards plans and demonstrating that they were • demonstrate that appropriate • contribute to agreeing subsequent action followed documentation was prepared with the client. • correspondence with clients outlining • prepare a timetable to be adhered to future action and deadlines. which outlines future actions.

Technical Skills—Financial Planning

FPL4

Reviewing a financial plan
Competency: The mentee should demonstrate the ability to participate in reviewing a financial plan.
To be competent, the mentee should demonstrate the ability to: • monitor the performance of a financial plan • plan or activate necessary changes • recognise factors which might affect the plan as a result of environmental changes. To assess and measure the mentee’s competence, a mentor could request that the mentee: Examples of evidence might include:

• demonstrate how the service • work papers that include calculations performance of a financial plan is which monitor the performance of a monitored and measured from a client’s financial plan perspective • memos or notes which document the • explain how revisions to financial plans client’s responses to plan revisions are implemented • correspondence that evaluates the • document examples of how to react and impacts of environmental changes. adopt environmental change.

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Technical Skills—Financial Risk Management

FRM1

Establishing financial objectives
Competency: The mentee should demonstrate the ability to participate in establishing the financial objectives and risk strategies for an organisation.
To be competent, the mentee should demonstrate the ability to: • understand the organisation’s financial situation • contribute to establishing an organisation’s financial objectives • analyse the implication of an organisation’s objectives, strategies and business plan on the present and projected financial position • contribute to establishing a risk strategy. To assess and measure the mentee’s competence, a mentor could request that the mentee: • monitor and report on the financial implications of an organisation’s situation • translate business plans into financial risk terms • identify the effects of financial strategies on key stakeholders and on business strategies • determine the organisation’s or client’s attitude to risk. Examples of evidence might include:

• emails or reports advising the organisation of the financial implication of their situation • working notes relating to financial estimates of business strategies, objectives and plans • documented financial strategies including critical assumptions • financial models, cash flow and profitability patterns used in analysis • documented risk profiles or financial risk strategies for an organisations or client.

Technical Skills—Financial Risk Management

FRM2

Monitoring the financing operations
Competency: The mentee should demonstrate the ability to participate in the monitoring and managing of an entity’s financing operations.
To be competent, the mentee should demonstrate the ability to: • assess investment sources and methods • monitor an organisation’s cash flow and contribute to managing surplus funds • determine potential investment options • contribute to the information system requirements for a financial risk management function. To assess and measure the mentee’s competence, a mentor could request that the mentee: • demonstrate involvement in managing the capital structure of an organisation • assess and determine different investment sources and options • monitor an organisation’s cash flow and suggest ways to manage funds surplus to requirements • discuss structural issues involved in establishing the infrastructure of a treasury function and information system requirements. Examples of evidence might include:

• notes relating to sources of finance and their review • notes relating to the organisation’s or client’s investment policy guidelines and reviews • short and long-term cash flow budgets • notes which explain how internally and externally generated data is recorded.

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Technical Skills—Financial Risk Management

FRM3

Managing financial risk
Competency: The mentee should demonstrate the ability to assist in managing the financial risk of an organisation.
To be competent, the mentee should demonstrate the ability to: • identify and measure current and future financial exposure • assess the effectiveness of the financial risk management process • contribute to an organisation’s response to risk and the external environment. To assess and measure the mentee’s competence, a mentor could request that the mentee: • identify and measure current and potential financial exposure • design or assess effective and efficient systems or procedures for internal control • explain how the financial risk management function is adapted for change • explain how an organisation’s financial risk is effected by external environmental influences. Examples of evidence might include:

• notes and reports relating to analysis of exposures and recommendations • notes relating to the way treasury function is promoted at an organisation • assessment notes or reports that outline the need for change (whether it be internal or external) in order to decrease financial risk.

Technical Skills—Financial Risk Management

FRM4

Financial control systems
Competency: The mentee should demonstrate the ability to participate in developing performance related information systems and establishing financial control systems.
To be competent, the mentee should demonstrate the ability to: To assess and measure the mentee’s competence, a mentor could request that the mentee: Examples of evidence might include:

• contribute to policies and procedures for • assess key risk areas managing financial exposure • document internal control systems • contribute to designing or assess • liaise with and evaluate proposals from effective and efficient systems. providers of financial risk • document policies and procedures.

• a listing of the internal control systems explaining how they contribute to an effective or efficient financial risk management function • documented policies and procedures for managing exposures • notes or reports relating to policy and procedures review.

27

Technical Skills—Insolvency

INS1

Assessing a competitive position
Competency: The mentee should demonstrate the ability to contribute to assessing the competitive position of an individual or an organisation.
To be competent, the mentee should demonstrate the ability to: • assess the competitive position of the organisation or the individual • analyse the organisation’s or individual’s financial position • assess the commercial viability of the financial state. To assess and measure the mentee’s competence, a mentor could request that the mentee: • identify and analyse risk factors • identify critical risks, options, advantages, conduct sensitivity analysis and test conclusions. Examples of evidence might include:

• competitive analysis and sensitivity analysis reports • draft reports on financial position based on research and testing • draft commercial viability reports.

Technical Skills—Insolvency

INS2

Options for those facing insolvency
Competency: The mentee should demonstrate the ability to participate in evaluating, identifying and recommending strategic options for underperforming, possibly insolvent or insolvent organisations.
To be competent, the mentee should demonstrate the ability to: • identify and evaluate strategic options • recommend a range of strategic options. To assess and measure the mentee’s competence, a mentor could request that the mentee: • collect and analyse relevant data • identify limiting factors and gather information to conduct comparative analysis and establish criteria for making appraisals • document various options which are available. Examples of evidence might include:

• research notes and a draft assessment of options • evaluation drafts and reports, and working notes and comparative appraisals • a recommendation report which includes an options assessment.

28

Technical Skills—Insolvency

INS3

Managing a reconstruction
Competency: The mentee should demonstrate the ability to participate in managing a reconstruction.
To be competent, the mentee should demonstrate the ability to: • monitor, review and assess the progress of a reconstruction plan • contribute to developing a plan. To assess and measure the mentee’s competence, a mentor could request that the mentee: • report on a reconstruction, including assessing actual performance against objectives • provide a draft plan with established timeframes. Examples of evidence might include:

• progress reports and working notes • draft plan with timeframes.

Technical Skills—Insolvency

INS4

Liquidating a company
Competency: The mentee should demonstrate the ability to participate in the liquidation of an organisation.
To be competent, the mentee should demonstrate the ability to: To assess and measure the mentee’s competence, a mentor could request that the mentee: Examples of evidence might include:

• develop reports on forms of • document forms of administration and administration and determine the prepare a reconciliation of expected and appropriate form actual results • participate in a liquidation including • evaluate options and prepare how to identify and realise assets and documentation to support a settle creditors recommended form of administration • identify how a debtor becomes bankrupt. • identify how to set valuation parameters and identify best options when realising assets • document the effect of particular debtor circumstance.

• reconciliations of expected and actual results • draft and final options paper • assets lists and their expected values and valuation parameters • calculations of income contributors under a variety of circumstances.

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Technical Skills—Management Accounting

MAN1

Setting an organisation’s direction
Competency: The mentee should demonstrate the ability to participate in the direction setting of an organisation.
To be competent, the mentee should demonstrate the ability to: • contribute to the forming of strategies • appraise projects against their objectives • contribute towards preparing business plans and budgets • contribute towards decision making for operations. To assess and measure the mentee’s competence, a mentor could request that the mentee: • explain how they prepared a development, operational and/or capital budgets for an organisation • demonstrate how a business plan is used by management for decision making • document how they contributed to formulating management accounting strategies and processes • explain how they appraised a project within an organisation by assessing key assumptions, undertaking project life analysis, target costing, and conducting, risk, sensitivity or probability analysis. Examples of evidence might include:

• demonstrate how a business plan is evaluated which may include estimating and testing revenue, expenses or investment estimates and preparing a SWOT analysis • a budget prepared, which could be a developmental, operational or capital budget • profitability analysis and cash flow statements and predictions • a list of factors to be included in a business plan • emails or notes which discuss formulating management accounting strategies and processes • presentations or briefing notes which appraise an organisation’s project (e.g. reports, notes or other documentation) • an email or memo which evaluates a business plan according to requirements.

Technical Skills—Management Accounting

MAN2

Design of organisational processes
Competency: The mentee should demonstrate the ability to participate in organisational change to design processes.
To be competent, the mentee should demonstrate the ability to: • contribute to financially assessing organisational design or redesign • contribute to monitoring financial aspects of organisational change and assessing the effects • contribute to developing financial management accounting structures by adding value and responding to organisational and business imperatives • contribute to the operation of the management accounting function. To assess and measure the mentee’s competence, a mentor could request that the mentee: • prepare a financial assessment of an organisational design or redesign • demonstrate how to monitor financial aspects of an organisational design and to assess its effectiveness • explain how the management accounting function develops in response to organisational and business imperatives • explain their role in the financial management function and associated processes. Examples of evidence might include:

• an email/memo regarding a financial assessment of an organisational design or redesign • a copy of a company process that defines their role in particular processes • a copy of recommendations made, which can be in the form of an email or memo, which are designed to add value • notes of changes initiated or supported to improve the management accounting function.

30

Technical Skills—Management Accounting

MAN3

Performance measurement
Competency: The mentee should demonstrate the ability to contribute to developing performance measurement systems.
To be competent, the mentee should demonstrate the ability to: To assess and measure the mentee’s competence, a mentor could request that the mentee: Examples of evidence might include:

• facilitate the development of performance • evaluate how the management measurement accounting function is conducted to meet the organisation’s needs • contribute to the implementation of performance measurement systems • explain how performance is measured in an organisation and make suggestions • contribute to business planning, cost on how this can be improved control and budgeting • identify their involvement in streamlining • contribute to project appraisals and an organisation’s performance organisation design and development. management system • evaluate the effect of external and internal organisational relationships on measuring performance.

• drafts of financial and non-financial performance measures • notes or reports of performance management reviews—KPIs • calculations and spreadsheets that are used to prepare budgets and measure performance with explanations of how this influences decision making • emails or memos that identify adoption of the organisation’s performance management • copies of external requirements on measuring performance such as requirements from banks, major suppliers, major customers, and/or other key stakeholders.

Technical Skills—Management Accounting

MAN4

Financial control and systems
Competency: The mentee should demonstrate the ability to develop performance related information systems and establishing financial control systems.
To be competent, the mentee should demonstrate the ability to: • facilitate the development of financial control systems • contribute to the implementation of IT control system; • contribute to designing, implementing and reviewing an organisational control system. To assess and measure the mentee’s competence, a mentor could request that the mentee: Examples of evidence might include:

• explain how the financial control systems • documentation that can include an email are developed, and the purpose for or memo written or minutes of a meeting their implementation to which they contributed and which documents control systems that they • demonstrate that they have contributed have designed, implemented or reviewed to the design, implementation and/or review of an organisation’s IT control • criteria for assessing effectiveness of system. control systems including benchmarks • demonstrate that they have used • test plans which summarise how information technology to develop information systems were tested or controls. monitored for their effectiveness.

31

Technical Skills—Taxation

TAX1

Determining an organisation’s tax position
Competency: The mentee should demonstrate the ability to participate in determining the tax position and liability of an organisation or entity (which may include individual).
To be competent, the mentee should demonstrate the ability to: • contribute to the tax function • determine all taxation due dates and liabilities of an entity • meet the reporting, payment and compliance obligations of an entity • provide advice on the taxation effects of transactions and events. To assess and measure the mentee’s competence, a mentor could request that the mentee: • explain how they contribute to the taxation function for individuals and small business or part of a tax function to a large organisation • demonstrate how to calculate the tax liability for different types of entities and be familiar with the due dates of the tax obligations of entities • document how they ensure that tax reporting and payment compliance obligations are met • explain the types of advice that they give on the taxation effects of transactions, operations, organisational structures, arrangements and financing. Examples of evidence might include:

• work papers that include how they calculated the tax liability • correspondence with a client, which they prepared that outlines how their tax reporting and payment compliance obligations are met • emails or memos written, or notes from meetings to which they contributed, where they gave tax advice • file notes which outline the tax obligations.

Technical Skills—Taxation

TAX2

Tax effective planning
Competency: The mentee should demonstrate the ability to effective tax planning of an organisation (which may include an individual).
To be competent, the mentee should demonstrate the ability to: To assess and measure the mentee’s competence, a mentor could request that the mentee: Examples of evidence might include:

• contribute to assessing an organisation’s • prepare an assessment of an taxation strategy organisation’s taxation strategy • contribute to establishing an • explain the process involved in organisation’s taxation strategy establishing an organisation’s taxation strategy • contribute to planning of the incidence and timing of taxation liabilities. • document a plan for the timing of taxation liabilities.

• an email/memo regarding an assessment of the tax position of an organisation • minutes from a meeting during which an organisation’s taxation strategy was established. • research or files notes, which may include calculations, that were prepared when either establishing or assessing the organisation’s taxation strategy • a file note or written correspondence that documents a plan of the timing of a taxation liability.

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Technical Skills—Taxation

TAX3

Promoting tax awareness
Competency: The mentee should demonstrate the ability promote tax awareness within the organisation or with clients.
To be competent, the mentee should demonstrate the ability to: • discuss or debate issues relating to taxation • explain the organisation’s response to taxation developments • keep up date with changes in taxation legislation, regulation and case law. To assess and measure the mentee’s competence, a mentor could request that the mentee: • evaluate how they have been able to promote the understanding of taxation issues of an organisation or entity or individuals • provide external communications, such as newsletters or technical updates to which they contributed • explain their involvement in a taxation awareness program • document how they contributed to the establishment of an organisation’s response to tax issues • discuss current changes in taxation legislation, regulation or decisions in case law. Examples of evidence might include:

• a newsletter or technical update to which they contributed which may be internal or external • notes from a presentation presented regarding taxation issues • emails or memos that explain taxation issues and how they apply to an organisation.

Technical Skills—Taxation

TAX4

Taxation representation
Competency: The mentee should demonstrate the ability to participate in the representation, negotiation and litigation of taxation matters in an organisation or on behalf of clients.
To be competent, the mentee should demonstrate the ability to: To assess and measure the mentee’s competence, a mentor could request that the mentee: Examples of evidence might include:

• contribute to the representation of an • document how they represented the organisation or client on tax matters, organisation or a client on taxation which may include legal or administrative matters action • demonstrate that they have contributed • contribute to negotiations on tax matters. to negotiation on tax matters.

• file notes or calculations that were used in representing the client or organisation on tax matters • correspondence with the taxation authorities to negotiate with the taxation authorities on behalf of the client or the organisation • documentation of information required by external or internal parties for the negotiation of tax matters.

33

Business Skills

BUS1

Regulatory environment
Competency: The mentee should demonstrate an understanding of the regulatory environment in which a business is operating, and have the ability to interpret and apply relevant legislation and standards relevant to their work, and apply regulations. Relevant legislation can include laws and regulations relating to companies, business, taxation, accounting and auditing standards, and particular industries and activities.
To be competent, the mentee should demonstrate the ability to: To assess and measure the mentee’s competence, a mentor could request that the mentee: Examples of evidence might include:

• understand the regulatory environment in • list the regulations (i.e. standards or which a business is operating legislative requirements) that must be complied by the organisation • interpret and apply legislation and professional standards relevant to the • explain how the regulations impacted business on the organisation, including how these regulations were accessed and how they • interpret and apply legislation and were interpreted to complete the task. professional standards in their commercial context.

• a draft list of regulatory requirements • presentations or briefings notes given to stakeholders that outline the regulatory standards that apply to professional activities (e.g. reports, notes or other documentation) • a listing of people within an organisation with responsibilities for managing compliance with relevant legislation and the process for achieving compliance obligations • discussing the regulatory environment relating to an organisation.

34

Business Skills

BUS2

Leveraging technology
Competency: The mentee should demonstrate the ability to use information technology and systems to efficiently and effectively perform their accounting role in the workplace.
To be competent, the mentee should demonstrate the ability to: To assess and measure the mentee’s competence, a mentor could request that the mentee: Examples of evidence might include:

• use standard software/technology/ General knowledge of IT: approaches in managing work and • an understanding of IT as a business demonstrate a general knowledge of IT process enabler where candidates can • use of and understanding of a range of IT explain, describe or discuss how IT and information systems controls impacts on the business processes and understand the role of the accountant • understand of the roles of the manager, within it evaluator or designer of information systems. • an understanding of the management of IT and explain, describe or discuss how IT is managed within an organisation. • the ability to evaluate the different IT mediums to be used for communication and collaboration. IT control • an understanding of the need for sufficient control of information systems IT in the workplace and the ability to contribute to the assessment of associated risks. • the ability to contribute to strategies to control the risks faced by the organisation resulting from the use of IT and information systems. IT user competencies • competency in IT systems and tools as applied in the workplace to facilitate managing business and accounting issues • an understanding of business and accounting systems.

• a description of how IT is managed within an organisation which may include induction training, ongoing training, variety of systems relating for example to document control, security of information and data or privacy protection • a description of how different information systems and IT applications enhance their role, and the obstacles they may encounter using IT • an explanation of the importance of having sufficient internal controls over the organisation’s IT function. • a document explaining the various types of electronic communication used, for example, for arranging meetings, recording discussions, applying for leave or conducting online meetings.

35

Business Skills

BUS3

Domestic and global business context
Competency: The mentee should demonstrate an understanding of their organisation or business or their client’s business as it is influenced by the context within the domestic and global environment.
To be competent, the mentee should demonstrate an ability to: To assess and measure the mentee’s competence, a mentor could request that the mentee: Examples of evidence might include:

• understand internal and external • list the factors which influence the business factors which influence the business environment environment of the business • summarise (for instance, in the form of • understand the local and global an email or file note) how these factors market and trends impacting on their may affect the business. organisation or their client’s organisation • gather and use competitor knowledge to gain a better understanding of the business context • understand and evaluate information from a variety of sources to enhance their understanding of the business context.

• contributions to the formulation of accounting strategies and processes for an organisation, which would include suggested data analysis, draft notes relating to strategy formulations, an analysis of the needs of stakeholders and/or shareholders • contributions to planning in an organisation which could include an evaluation of parts of the business or undertaking a SWOT analysis • contributions to market assessments for the organisation • presentations and briefings conducted by the mentee to clients or colleagues in relation to their operations/market environment.

Business Skills

BUS4

Business analysis and risk management
Competency: The mentee should demonstrate an understanding of and an ability to use tools and skills of business analysis which includes evaluating and managing the risk associated with the business being analysed.
To be competent, the mentee should demonstrate the ability to: To assess and measure the mentee’s competence, a mentor could request that the mentee: Examples of evidence might include:

• identify stakeholders • undertake research into factors affecting a business and its business plans • research the business, its environment and factors that will affect the future • provide notes/email/minutes from a activities of the business meeting which identifies stakeholders that are affected by a particular decision • identify the level of financial risk of the and of the business analysis and or risks business, and differentiate between associated with the business. different types of risk • understand how the results of the business analysis undertaken and possible future risk will affect the business • contribute to planning how the business could react to these findings • communicate the business analysis and risk management to appropriate individuals.

• a summary of research undertaken • a list of the key risks • notes of a meeting of stakeholders where the mentee contributed to a briefing on business risks.

36

Personal effectiveness skills

PER1

Self awareness
Competency: The mentee should demonstrate awareness of the qualities they should display as a professional in the workplace.
To be competent, the mentee should demonstrate the ability to: To assess and measure the mentee’s competence, a mentor could request that the mentee: Examples of evidence might include:

• continuously update professional and • provide personal observation or • feedback from training personal skills to ensure that they are feedback from work colleagues of • a log or other record of training equipped to meet the requirements of examples of a time that the mentee undertaken and a plan of future training working as a professional successfully managed a change in • staff appraisal form where constructive the workplace or demonstrated the • acknowledge and be responsible for their feedback regarding professional organisation’s core values own actions and expertise, and recognise behaviour has been noted and and pursue assistance when required • review training needs and the completion subsequently rectified. of training • adapt to and manage change • display confidence in their professional ability • demonstrate that they can request assistance and acknowledge those who • complete all tasks required to finalise a provide support. piece of work • accept responsibility for the work undertaken • internalise the organisation’s core values.

Personal effectiveness skills

PER2

Building relationships and interpersonal skills
Competency: The mentee should demonstrate the ability to build relationships and communicate with others.
To be competent, the mentee should demonstrate the ability to: • consider their behaviour and the impact it may have on others and modify where necessary • demonstrate professional courtesy when interacting with work colleagues • recognise and respect of individuals differences • have effective working relationships by developing contacts, relationships and suitable networks and by responding appropriately • operate effectively in a team environment for both face-to-face and virtual teams • identify individual and team goals, tasks, responsibilities and schedules for themselves and their colleagues • work together with others towards shared goals. To assess and measure the mentee’s competence, a mentor could request that the mentee: Examples of evidence might include:

• provide personal observation or • chairing or actively participating feedback from work colleagues of in meetings examples of a time that the mentee • exchanging information with colleagues modified behaviour after considering and/or clients to support the others achievement of work objectives • provide examples of the use of contacts • exchanging ideas and information, within made through networking appropriate boundaries of confidentiality, • provide feedback, observations or emails to develop supportive networks with that show that individual differences were other professionals. recognised and respected, professional courtesy was demonstrated and that the mentee worked effectively as part of a team • document occasions of the use of key contacts and networks to benefit the organisation.

37

Personal Effectiveness Skills

PER3

Business communication
Competency: The mentee should demonstrate verbal and written business communication skills in order to be able to work effectively and efficiently as a professional.
To be competent, the mentee should demonstrate the ability to: • communicate appropriately and professionally with colleagues, clients, managers and other external and internal stakeholders; which includes evidence that their opinions and ideas are valued • identify and understand the needs of the group or individual and adjust communication styles to suit the audience and context • converse confidently in formal and informal work environments • communicate clearly on key issues in a business context to demonstrate the ability to research and share information • communicate clearly, both formally and informally, in a variety of medias, including standard business correspondence, verbal communications and online technologies • use different communication skills such as interpreting non-verbal communication, listening effectively and giving and receiving feedback. To assess and measure the mentee’s competence, a mentor could request that the mentee: • provide written communication that relates to objectives and the stated audience • collect feedback relating to a meeting chaired or a presentation given by the mentee • keep a journal of the usage of different types of media such as a presentation, chairing a discussion group, a document analysing alternative strategies, each being appropriate in order to satisfy different needs and requirements of the audience. Examples of evidence might include:

• notes of a meeting to which the mentee made a significant contribution to achieve an outcome • draft letters, an issues paper or research memos • presentation to work colleagues of research findings on different types of business communication such as issues papers, research memos, presentations and discussion groups • feedback from work colleagues or external stakeholders.

38

Personal Effectiveness Skills

PER4

Critical analysis and professional judgement
Competency: The mentee should demonstrate the ability to apply critical analysis and professional judgement in the work environment. This is accomplished by understanding and evaluating issues that arise, and making decisions based on this evaluation and the importance of the issues.
To be competent, the mentee should demonstrate the ability to: • identify issues that arise in the work environment • verify information gathered for analysis and confirm that it is comprehensive and accurate • evaluate information against set criteria by interpreting trends, developing options and identifying key issues in relation to complex facts • generate work-related ideas which are structured logically based on facts with supporting evidence • make a decision or propose a decision based on the information gathered, ideas generated and the evaluation performed. To assess and measure the mentee’s competence, a mentor could request that the mentee: • explain how information was gathered for analysis • list methods that can be used to verify information • document decisions or proposals made. Examples of evidence might include:

• a list of identified issues relevant to assessing alternatives • a list of the evaluation criteria from most important to least important. • notes of a contribution to business improvements, new processes or new business opportunities.

39

Leadership Skills

LEA1

Ethics and governance
Competency: The mentee should demonstrate personal integrity and ethical behaviour as an individual, and as part of their organisation, the profession and the community. Further, the mentee should be able to identify the need for good governance and it how it can be effectively implemented into an organisation.
To be competent, the mentee should demonstrate the ability to: • adhere to an ethical framework in all aspects of their professional life • demonstrate integrity and objectivity • respect confidentiality • understand how governance is evident within an organisation, and the ability to identify risks where relevant • identify the need for effective implementation of good governance. To assess and measure the mentee’s competence, a mentor could request that the mentee: • document their consideration of the ethical framework and code of conduct in relevant situations • demonstrate compliance with the organisation’s policies and procedures and that they are familiar with their responsibilities for their role • document how ethical decisions were made with particular reference to honesty, integrity, objectivity and confidentiality and the obstacles that were faced • evaluate external and internal resources available for consultation in relation to making ethical decisions when encountering issues regarding corporate governance. Examples of evidence might include:

• a description of situations where professional ethics, values or judgement might have been challenged • references to the practical application of the code of conduct/ethics that they abide by • presentations or briefings by the mentee to clients or work colleagues that outline the ethical standards that apply to professional activities.

Leadership Skills

LEA2

Diversity and consciousness
Competency: The mentee should demonstrate their ability to adapt their behaviour in recognition of diversity.
To be competent, the mentee should demonstrate the ability to: • understand, respect, and value the diverse cultures and backgrounds of people in the workplace • recognise cultural differences and understand when and how to adapt behaviour accordingly • actively assist in managing of group dynamics • explain their understandings of different cultures and how these may impact on communication. To assess and measure the mentee’s competence, a mentor could request that the mentee: • document examples of how behaviour was adapted to recognise cultural differences • demonstrate how knowledge was acquired regarding different cultures • document obstacles faced when communicating with people from different backgrounds • document how their personal behaviour was adapted as a result of group dynamics. Examples of evidence might include:

• document a situation where the mentee recognised cultural differences and adapted their behaviour • research notes on differing communication styles and a situation in which it was applied • notes of a situation in which the mentee demonstrated that they adapted to cultural diversity in a group.

40

Leadership Skills

LEA3

Planning/innovative thinking
Competency: The mentee should demonstrate an understanding of the importance of planning and their contribution to improving business plans and processes.
To be competent, the mentee should demonstrate the ability to: • set challenging goals, objectives and performance indicators • understand organisational goals in relation to personal and functional team goals • seek out and generate new ideas, based on analysis and/or creative thinking • undertake trend analysis to inform business plans and improvements • support new ideas, strategies and processes and be involved in documenting processes. To assess and measure the mentee’s competence, a mentor could request that the mentee: • provide a performance development plan which outlines goals, objectives and performance indicators • outline the organisational goals and explain how personal or team goals may need to be adapted to comply with the organisation goals • plan and adapt workflows to achieve personal, team and /or organisational goals • document new ideas and the way that they were generated • document the way how new ideas, strategies and processes will affect their day-to-day tasks. Examples of evidence might include:

• a performance development plan • a documented plan of workflow and adoption of new goals • documented new ideas and the way these were progressed.

Leadership Skills

LEA4

Problem solving and decision making
Competency: The mentee should demonstrate an understanding of the role of gathering information and the available resources to solve problems and make decisions.
To be competent, the mentee should demonstrate the ability to: • identify problems and issues which require decision making • undertake research and use available resources to identify potential solutions • recommend or contribute to making decisions based on analysis undertaken. To assess and measure the mentee’s competence, a mentor could request that the mentee: • document problems or issues and decisions that are needed to achieve resolution • list potential avenues for research within the organisation to assist the resolution of a problem or issue • explain how decisions were made and analyse how these decisions will affect other decisions and their work. Examples of evidence might include:

• research performed to solve particular problems • a list of possible solutions proposed as a result of research undertaken • a list of people consulted when making decisions • an evaluation of how decisions made affected their role.

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42

CPA Program

3 Practical experience logbook

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44

Using the practical experience logbook
The practical experience logbook format enables you to record your practical experience requirement progress. The front page of the logbook is a summary of the skills accomplished—it allows you to track dates that you submitted evidence of the required competency in each of the skills. The logbook also contains a schedule which lists all of the sub-skills. This is where you record the evidence you provided (in the ‘Description of workplace evidence’ column), and where your mentor signs and dates that he or she has sighted the evidence and is satisfied that you have demonstrated your competence. You must complete all the business, leadership and personal effectiveness sub-skills. You must also complete four of the sub-skills from the technical skill set, which can be from up to four different areas of work. Below is an example of a sub-skill schedule:

Code AUD1

Technical skills Auditing

Sub-skill Planning an audit

Description of workplace evidence

Mentor’s signature

Date

You should complete a description of the evidence you provided to your mentor to demonstrate that you are competent.

The date your mentor signed for that sub-skill. Your mentor should sign once satisfied that you have demonstrated competence in this sub-skill.

The logbook can be downloaded from the CPA Australia website and saved as a working document. This will allow you and your mentor to update it electronically.

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Practical experience logbook
This front page is a summary of the skills accomplished and allows you to track dates that you submitted evidence of the required competency in each of the skills. For the technical skills you have to record the code of the skill for which you displayed competence.
Skill Date Skill Date Skill Date Skill Date

Technical skills (enter codes) Business skills Personal effectiveness skills Leadership skills BUS1 PER1 LEA1 BUS2 PER2 LEA2 BUS3 PER3 LEA3 BUS4 PER4 LEA4

On the attached schedule is a listing of all of the skills and sub-skills. This is where you record the evidence you provided, and where your mentor signs and dates that he or she has sighted the evidence and is satisfied that you have demonstrated your competence.

47

48

Code

Technical skills

Sub-skill

Description of workplace evidence

Mentor’s signature

Date

AUD1 AUD2 AUD3 AUD4 FAC1 FAC2 FAC3 FAC4 FPL1 FPL2 FPL3 FPL4 FRM1 FRM2 FRM3 FRM4

Auditing Auditing Auditing Auditing Financial Accounting Financial Accounting Financial Accounting Financial Accounting Financial Planning Financial Planning Financial Planning Financial Planning Financial Risk Management Financial Risk Management Financial Risk Management Financial Risk Management

Planning an audit Performing an audit Promoting audit awareness Audit control and improvement Financial reporting requirement Processing of financial information Preparation of financial reports Reliability of financial information Defining a client’s situation Developing a financial plan Implementing a financial plan Reviewing a financial plan Establishing financial objectives Monitoring the financing operations Managing financial risk Financial control systems

Code

Technical skills

Sub-skill

Description of workplace evidence

Mentor’s signature

Date

INS1 INS2 INS3 INS4 MAN1 MAN2 MAN3 MAN4 TAX1 TAX2 TAX3 TAX4 BUS1 BUS2 BUS3 BUS4
49

Insolvency Insolvency Insolvency Insolvency Management Accounting Management Accounting Management Accounting Management Accounting Taxation Taxation Taxation Taxation Regulatory environment Leveraging technology Domestic and global business context Business analysis and risk management

Assessing a competitive position Options for those facing insolvency Managing a reconstruction Liquidating a company Setting an organisation’s direction Design of organisational processes Performance measurement Financial control and systems An organisation’s tax position Tax effective planning Promoting tax awareness Tax representation

50

Code

Personal effectiveness Skills

Description of workplace evidence

Mentor’s signature

Date

PER1 PER2 PER3 PER4

Self awareness Building relationships and interpersonal skills Business communication Critical analysis and professional judgement

Code

Leadership skills

Description of workplace evidence

Mentor’s signature

Date

LEA1 LEA2 LEA3 LEA4

Ethics and governance Diversity and consciousness Planning and innovative thinking Problem solving and decision making

CPA Program
4 Forms

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Summary of Practical Experience Requirement forms
This summary applies to member who enrol in the Practical Experience Requirement.
1. Practical Experience Testimonial

Purpose This form allows the mentee to claim time requirements and/or skill requirements which were achieved during a mentoring relationship.

Who needs to complete it? The mentee must complete section A. The mentor must complete section B. The mentee should only complete section C and D when they are ready to advance to CPA status.

When should it be sent to CPA Australia? The testimonial must be kept by the mentee, and submitted to CPA Australia when ready to advance to CPA status.

Special instructions This form is the only form which allows a mentee to claim time with a mentor. Mentees who change mentors will need to have this form signed off by the previous mentor. Special instructions This form can only be used to demonstrate up to 50% of the sub-skills within a chosen skill area. One form must be used for each sub-skill.

2. Evidence of Knowledge

Purpose This form is used by the mentor, supervisor or manager when workplace evidence can not be sighted due to confidentiality issues.
3. Personal Development

Who needs to complete it? The mentor completes the form when formulating questions to ask the mentee. The mentee’s supervisor or manager endorses entries to validate the mentee’s work. Who needs to complete it? The mentee and mentor should discuss the questions and topics raised on the form.

When should it be sent to CPA Australia? This form may be requested if a mentee is selected for audit by CPA Australia.

Purpose This form allows the mentor to gain a good understanding of the mentee’s background and goals. It can be used to establish the mentoring relationship. Purpose This form is used to update CPA Australia’s records when a mentee changes mentors and/or employer contacts.
5. Communication Log

When should it be sent to CPA Australia? This form does not need to be sent to CPA Australia.

Special instructions It is useful where the mentor is outside of the workplace, or where the mentee and mentor do not know each other well. It is for the mentee’s records only. Special instructions Any time over the 30 days will not be recognised as time accumulating for the practical experience requirement.

4. Change of Mentor and Employer Contact

Who needs to complete it? Mentees changing mentors must complete sections A, B and C. If changing employer contacts, the mentee must complete sections A and D. Who needs to complete it? This form must be completed by the mentee as evidence of consistent contact and progress with their mentor.

When should it be sent to CPA Australia? This form must be sent to CPA Australia within 30 days of the change.

Purpose This form is for mentees to record all communication with their mentor, including phone, email, fax or face-to-face.

When should it be sent to CPA Australia? This form may be requested if a mentee is selected for audit by CPA Australia.

Special instructions Use this form to record progress, ideas, discussions and plans agreed with the mentor.

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Practical experience testimonial
General information page
Completing Section A: Mentee testimonial
The mentee to confirm name, preferred name, signature and date.

Completing Section B: Mentor testimonial
The mentor to confirm the requirements met during the mentoring relationship. 1. Time requirements How long was the mentoring relationship? This section must always be completed by the mentor. This section should be completed even if no skills were completed during the mentoring relationship. Time in the mentoring relationship cannot be claimed if this section is not completed. 2. Skill area requirement Did the mentee demonstrate any skills whilst in the mentoring relationship? Tick the completed box next to each skill for which the mentee provided relevant workplace evidence during the mentoring relationship and demonstrated competence for that skill. 3. Evidence requirements: If the mentor sighted workplace evidence, did it meet the evidence requirements? If so, all boxes must be ticked. Changes during your mentoring relationship If the mentee changes mentors, the mentee will need to complete a separate practical experience testimonial with their ‘previous mentor‘ to confirm what was achieved during each mentoring relationship. This will enable them to claim the time requirements and/or skill requirements achieved during the relationship. The mentee may need to make multiple copies of this form, or a copy can be downloaded from our website cpaaustralia.com.au/per_guidelogbook The final practical experience testimonial completed before advancement, will contain an employers declaration from the most recent employer contact person. Keep all of the practical experience testimonial forms for submission at the time of advancing to CPA status. Please submit a certified true copy of the original documents, originals will not be returned. The mentee must complete and submit an application to change mentor and employer contact form.

Completing Section C: Employer contact testimonial
The employer contact to confirm the mentee’s employment in a professional accounting and/or finance role. The employer contact who signs the practical experience testimonial, must be the same person currently registered with CPA Australia.

Completing Section D: Recognition of prior experience
Some associate members may be eligible to apply for recognition of prior experience to reduce their time requirements for the practical experience requirement. They may apply for recognition before they are ready to advance, or at the time of sending in practical experience testimonials for assessment. For further information: cpaaustralia.com.au/rpe_exemptions Advancement to CPA status For detailed information on what is required to advance to CPA status, please visit our website: cpaaustralia.com.au/advancements

55

1.

Practical experience testimonial
Important information: • When completed, the practical experience testimonial allows the mentee to claim time requirements and/or skill requirements which were achieved during a mentoring relationship. • The practical experience testimonial/s must be submitted at the time of advancement to CPA Status, once the mentee has successfully completed the professional level which includes meeting all of the practical experience requirements. • Please print in BLOCK letters Section A: Mentee testimonial Member number: Family name: First name: Preferred name: Mentee signature: Section B: Mentor testimonial For instructions on how to complete this section, please refer to the general information page. Family name: First name: Professional status: Full member of CPA Australia (CPA/FCPA) Full member of an IFAC membership body Date:

/

/

Name of professional body: Membership number: Membership number with CPA Australia or other professional body

Did the mentee demonstrate any skills during your mentoring relationship? Yes – Complete 1, 2 and 3, and sign below. 1. Time requirements Dates of mentoring relationship: From: No – The mentee wishes to claim the mentoring time only. Complete 1 and sign below.

/

/

To:

/

/

Complete this section to claim your time in the mentoring relationship, even if no skills were completed. 2. Skill areas For each sub-skill, tick the completed box if a sub-skill has been completed. Otherwise tick the

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...Income-tax has stated a case for our opinion on the four questions of law submitted in para 15. Question (4) deals with the genuineness of the alleged loans, but in para 33 the Commissioner explains the basis on which he has submitted this question, although in one sense it may be said to be a question of fact. Turning to the facts it appears that in the year 1921 the assessee formed four private companies which I will call family companies for convenience of reference, although in fact no other member of his family took any direct benefit thereunder. The names of these four companies were Petit Limited: The Bombay Investment Company Limited: The Miscellaneous Investment Company: and the Safe Securities Limited: Each of these companies took over a particular block of investments belonging to the assessee. But as the modus operandi was substantially the same in each case it will suffice to follow out the fortunes of Petit Limited. Taking then Petit Limited as an example, this family company was incorporated about April 12, 1921, with a nominal capital of rupees ten millions divided ultimately into 9,99,900 ordinary shares of Rs. 10 each and one hundred preference shares of Rs. 10 each carrying a fixed cumulative preferential dividend of six per cent. Its issued and subscribed capital consists of 3,48,604 fully paid ordinary shares all held by the assessee, and three fully paid preference shares held by three persons who are alleged in para 24 of the case to be his......

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...Rules on Criminal Procedure, to wit: “Sec. 5. Arrest without warrant; when lawful. — A peace officer or a private person may, without a warrant, arrest a person: (a) When, in his presence, the person to be arrested has committed, is actually committing, or is attempting to commit an offense; (b) When an offense has in fact just been committed, and he has personal knowledge of facts indicating that the person to be arrested has committed it; and (c)When the person to be arrested is a prisoner who escaped from a penal establishment or place where he is serving final judgment or temporarily confined while his case is pending, or has escaped while being transferred from one confinement to another. Under Section 5 (a), as above-quoted, a person may be arrested without a warrant if he “has committed, is actually committing, or is attempting to commit an offense.” In the case at bar, Appellant Doria was caught in the act of committing an offense. When an accused is apprehended in flagrante delicto as a result of a buy-bust operation, the police are not only authorized but duty-bound to arrest him even without a warrant. There is no rule of law which requires that in "buy-bust" operations there must be a simultaneous exchange of the marked money and the prohibited drug between the poseur-buyer and the pusher. Again, the decisive fact is that the poseur-buyer received the marijuana from the accused-appellant. 2. The warrantless arrest of appellant Gaddao, the search of......

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...add-on. Initial paper work took some time, so the new patients were asked to come earlier so that the work could be completed on time. Also informing the new patients to adhere to appointment timings was a usual practice to avoid delays. What procedures were followed to keep the appointment system flexible enough to accommodate the emergency cases, and yet be able to keep up with the other patients’ appointments? It is often observed that doctors misuse the time and often emergency cases are taken as excuses for not adhering to the schedule. It was important to make the system flexible to adjust the emergency cases as well as to adhere to the timelines and get back to schedule. In case of real emergencies like fractures or caesarean section etc., all other appointments could be dropped; however in case of small issues, the doctor was expected to come back on track as early as possible and give the patient a choice to wait or reschedule the appointment. Also the assistant of the doctors were ordered to keep some open slots throughout the day for the patients suffering acutely. This time was also used to look into the emergency cases....

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...Siyu Zhang Case 2 Feb.22 Paperback writer The professor’s book title, Criminal Intent, does not have any kind of legal protection. In order for literary or artistic expression to be protected from copying it must meet three requirements by law. The requirements for obtaining legal protection on this kind of material include the following: it must be original, it must be fixed in a durable medium, and it must show some level of creativity. In this case, Criminal Intent was obviously published in a durable medium; however its level of originality and creativity are minor at best. On the other hand, the titles of the Rolling Stones songs are entitled to legal protection. First of all, titles such as Honky Tonk Woman and 19th Nervous Breakdown would probably be considered more creative and original than in the case with Criminal Intent. Therefore, the Rolling Stones song titles meet all three requirements for protection of artistic expression. Also, this protection would be largely due to the popularity the songs achieved when they were released. The Federal Trademark Dilution Act of 1995 aims to protect trademarks from unauthorized uses even when it is unlikely to confuse consumers. Under Trademark law, an expression may be given protection if it acquires a secondary meaning, meaning that the term or expression has become closely associated with a particular company (in this case, these specific song titles being associated with Rolling Stones). For these......

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...Assignment Questions for Harvard Cases 3. Hilton Manufacturing Company In Exhibit 3 of the case, change the description for estimating variable portion of "Compensation" and use 5% of direct labor cost rather than 5% of direct labor and indirect labor cost as indicated in that Exhibit 3. Again, DO NOT USE 5% of DL and IDL costs. A product cost is itself a product of a cost accounting system. To use product cost information in decision making, a manager must understand the nature of the cost measurement system that has been used to estimate a product cost and be able to evaluate whether or not the product cost at hand is appropriate for the decision which is about to be made. A second objective is to provide practice in considering whether or not assumptions about cost behavior are critical to decisions and to expand the notion of contribution beyond the simple idea of price minus variable cost per unit. A third objective introduces the concept of breakeven analysis, not by focusing on the point where no profit is earned but rather as a tool to consider whether or not one of two price points might be preferred. Finally, the last assignment question invites you to consider factors that lead to profitability. You begin your analysis by focusing on two issues raised in the assigned questions. The first is whether the decision not to drop Product 103 as of January 1, 2004 was wise. In addition, you are asked to analyze what would have been the impact on......

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...A few tips from Bain & Company: • • • • • Don't get thrown by the interviewer's questions. The interviewer is your ally and uses questions to get a better understanding of your thought process--not to stump you. Be concise. If asked for the top two issues, confine your response to two items. Provide logical back-up for your answers. Be sure to explain what case facts led you to a conclusion, and how you reasoned from those facts to your conclusion. Don't be afraid to ask clarifying questions. If you don't understand the case facts, it will be tough to ace the interview. Relax and have fun. You should learn a lot about yourself through the case interview process. A few tips from Mercer Management: • • • • There is no "right" answer. We are not looking for a specific answer. We are trying to gain some insight on your thought process. Ask questions. We do not expect you to know anything about the industry presented in your case. We do expect you to ask good questions. Think out loud. The point of the case interview is to understand how you think. Structure your answer. We're looking for an organized pattern of thought to attack the problem, not a disparate set of ideas. Help us see how you order your thoughts and ideas, moving from one to the next in order to address the question. While use of a framework may be helpful in this area, be careful if you use one. We want to understand your thought process, not see that you've memorized someone else's framework. (And never use a......

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