ExpertCompetence Frameworks and Personal Development
Learning outcomes
- Construct a Personal Development Plan (PDP).
- Understand the importance of Continuing Professional Development (CPD).
Personal Development Plans (PDP)
A PDP is a clear action plan for your career. It involves:
- Where am I now? (Self-assessment of current skills).
- Where do I want to be? (Setting career goals).
- How do I get there? (Identifying training and experience needed).
- Review: Checking progress.
Continuing Professional Development (CPD)
Professionals (like ACCA accountants) must complete CPD. It is the mandatory, ongoing process of maintaining and improving skills throughout your career. It ensures you don't become obsolete when laws or technologies change.
What is the primary purpose of Continuing Professional Development (CPD) for an ACCA member?
CPD is not just courses
Students think CPD only means sitting in a classroom. CPD can be reading a technical article, mentoring a junior staff member, or learning a new software tool on the job.
Professional Scepticism
Accountants must maintain 'professional scepticism'. This means having a questioning mind and being alert to conditions that may indicate possible misstatement due to error or fraud. Do not just accept what management tells you at face value.
An auditor notices a large, unusual expense. The CEO says, 'Don't worry about it, it's fine.' The auditor asks for the receipt anyway. The auditor is demonstrating:
Exam Focus
A PDP must have SMART objectives (Specific, Measurable, Achievable, Relevant, Time-bound). 'I want to be better at Excel' is not SMART. 'I will complete an advanced Excel course by December 31st' is SMART.
Which of the following is the first step in creating a Personal Development Plan (PDP)?
Which of the following is a valid form of Continuing Professional Development (CPD)?
What does the 'M' in SMART objectives stand for?
Ready to put this into practice?
Ready to test yourself?
ACCA BT — Business & Technology Practice Exam 3
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