Assessment Guide (Accreditation of Prior Learning)

The Accreditation of Prior Learning Scheme is designed to provide formal assessment of understanding of practical Accountancy and Financial Management skills.
  • Standards of Competence.
The assessment is based on Standards of Competence designed by the Academy. The Standards are expressed as separate Units and are grouped for each Grade of Membership. The Standards will provide the Academy with a method of assessing and identifying competence in the workplace.
  • Units of Competence
Each Unit of Competence is divided into elements which are a statement of what a candidate should be able to do. Each element is expressed as a Learning Outcome. The Units of Competence at the Licentiate Grade include:
  • Cost Analysis and Control
  • Managerial Accounting (Management Accounting)
  • Cash Management and Credit Control
  • Financial Reporting
  • Professional Ethics and Business Practice.
The Units of Competence at the Associate Grade include:
  • Financial Reporting (Drafting Financial Statements)
  • Managerial Accounting
  • Project/Investment Appraisal
  • Working Capital Management
  • Raising Finance.
The Units of Competence at the Fellowship Grade include:
  • Strategic Planning
  • Dividend Policy
  • Advanced Financial Reporting (International Financial Reporting Standards)
  • Takeovers
  • Business Combinations
  • Raising Finance
  • Cash Flow Management
  • Periodic Reporting to the Board.
  • Assessment
Assessment is the process of collecting sufficient evidence of competence in a unit where it can be fully identified and accredited.
  • Competence
This represents the activity of applying skills in differing situations within the workplace.
  • Evidence
There are a number of sources of evidence that demonstrate competence and include: Evidence from Prior Achievement Evidence that shows the candidate understands and can apply knowledge to a workplace task or activity.
  • Assessment Methods
There are a number of methods of assessing such competence and include: Performance of a workplace accounting or financial management task. Reporting to senior management, Employee Appraisal. Management/Board Meetings: Agendas and Minutes.
  • Accounting/ Financial Management Portfolio.
Each candidate will maintain a portfolio of evidence. Detailed copies of the Units will be supplied by the Academy Assessor together with forms to be filled in by the candidate in order to match evidence to the learning outcomes. The portfolio will be in digital form and comprise word documents, pdf files and scanned documents from the workplace observing a strict code of confidentiality. Pages will include: Candidate name, employer and position. Job description and an organisation chart. The portfolio will be submitted online.
  • Procedure
Once the candidate expresses an interest in the APL scheme and sends the Membership Application form to the Academy with the relevant Assessment Fee an Assessor will contact the candidate by email or telephone. The Assessor will outline the scheme in depth and send copies of the Units and the relevant forms to the candidate. The Assessor’s role can be likened to that of Mentor and will guide the candidate every step of the way that will the Academy are sure will be a most worthwhile experience for the candidate. LICENTIATE GRADE STANDARDS OF COMPETENCE(DOWNLOADS)

APL SCHEME 1 Cost Analysis and Control

APL SCHEME 2 Standard Costing

APL SCHEME 2b ABC and Target Costing

APL SCHEME 3 Budgets and Budgetary Control

APL Scheme 4 Cash Management

APL SCHEME 5 Drafting Financial Statements

APL Scheme 6 Ethics

ASSOCIATE GRADE STANDARDS OF COMPETENCE(DOWNLOADS)

APL SCHEME 7 Financial Reporting

APL SCHEME 8 Project Appraisal 

APL SCHEME 9 Working Capital Management

APL SCHEME 10 Budgets and Budgetary Control

APL SCHEME 11 Raising Finance Associate

FELLOW GRADE STANDARDS OF COMPETENCE(DOWNLOADS)

APL SCHEME 12 Strategy

APL SCHEME 13 Financial Statements

APL SCHEME 14 Takeovers

APL SCHEME 15 Fellow Dividend Policy

APL SCHEME 16 Cash Flow Management

APL SCHEME 17 Raising Finance

APL SCHEME 18 Reporting to the Board

 

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