WORK PLACEMENT – TAX (ACCT 453)

OVERVIEW

1. COURSE DESCRIPTION

This course covers a number of tasks that are divided into two parts. The first part is the professional orientation which focuses on understanding the work environment of prospective employers and the job markets in general. After this, the students will be placed at the selected employers where they will apply their acquired knowledge, skills, and attitude in a real work environment. It is essential for the students to comply with the hosting organization’s requirements, to meet the Performance Objectives (POs), and to keep track of their training progression throughout the work placement period.

2. REASON FOR THE COURSE

Students must develop practical knowledge, skills, and attitudes in order to strengthen their positions in the market.  They need an opportunity to apply the knowledge acquired in previous coursework in a real business setting. Therefore, program graduates will develop work-readiness skills and be familiar with the key factors for success in a tax career.  

3. STUDY HOURS

4. ROLE IN CURRICULUM

Prerequisites: 

  1. Students must have completed the 9-hour preparation activities provided by Career Services and Student Advising (CSSA) or employer-conducted orientation approved by CSSA.
  2. Students must have completed Financial Accounting 1, Financial Accounting 2, IFRS for SMEs, and Cambodian Taxation.

SKILLS

  • COURSE LEARNING OUTCOMES (CLO)
  • ASSESSMENT AND GRADING
  • TEACHING METHODS
  • STUDY PLAN
  • TEXTBOOKS AND REFERENCES

5. COURSE LEARNING OUTCOMES (CLO)

On successful completion of this course, students will be able to:

Knowledge Level of
Learning
Related PLO
Identify Tax Issues and Ethics (CK1)
Identify the general tax issues and ethical requirements in relation to tax law and regulations.
Understand PIP2
Cognitive Skills Level of
Learning
Related PLO
Compute Tax Liabilities (CC1)
Compute the liabilities and tax payments in accordance with the tax law and regulations.
Apply PC3
Assess the Implication of Non-Compliance (CC2)
Assess the implication of non-compliance and tax planning in accordance with tax regulations.
Create PC3
Communication, Information Technology, and Numerical Skills Level of
Learning
Related PLO
Discuss Tax Risks and Minimization Measures (CCIT1)
Discuss the potential tax risks and/or tax minimization measures for individuals and organizations.
Apply PCIT3
Interpersonal Skills and Responsibilities Level of
Learning
Related PLO
Work Effectively (CIP1)
Work effectively with the team to deal with relevant tax issues of individuals and organizations.
Characterize PIP1

6. ASSESSMENT AND GRADING

Grades will be determined based on the following assessments and score allocations:

SKILL Assessment Skill Weighting for Grade
Mentor Supervisor Peer PE Report
Identify Tax Issues and Ethics (CK1) 50% 50%     10%
Compute Tax Liabilities (CC1)   50%   50% 30%
Assess the Implication of Non-Compliance (CC2)   50%   50% 30%
Discuss Tax Risks and Minimization Measures (CCIT1)   50% 50%   20%
Work Effectively (CIP1) 25% 50% 45%   10%

7. TEACHING METHODS

Performance Objectives

Students are required to achieve a minimum of four performance objectives in total including all three interpersonal qualities and the core skills of performance objectives in Tax. 

Students may achieve each performance objective by participating in the suggested activities or other similar activities related to the performance objectives by providing an explanation in the practical experience report.

The performance objectives are set out in interpersonal qualities and core skills as in Appendix 1.

To provide evidence of achieving performance objectives, students are required to request a confirmation letter from their supervisor with the attachment of the performance objectives that they have achieved during the job training.

Report: Personal Experience Report
Work Group: Individual
Output format: Performance Objective Matrix
Language: English

Description:

Students will be required to produce a summarized report reflecting the experience obtained from the job training that satisfies the required performance objectives. As their training progresses, students should keep track of their experiences. At the end of the training, students will be required to write a report summarizing the experience in their own words in a performance objective matrix. The report should be clear and truthfully reflect the experience with examples provided.

8. STUDY PLAN

   Lesson Learning Outcomes

Teaching (T), and
Assessment (A) Methods

1

Course Orientation

  1. Introduce the course aims, descriptions, and criteria.
  2. Explain the performance objectives to be achieved during the job training.
  3. Explain the practical experience report
  4. Guide the students in searching for relevant information about jobs and prospective organizations. 
Lecture
Question and Answer
2-18 On-Job training (All CLOs) Apply knowledge

9. TEXTBOOKS AND REFERENCES

ACCA Rule Book https://www.accaglobal.com/gb/en/about-us/regulation/ethics/acca-rulebook.html

ACCA Performance Objectives

https://www.accaglobal.com/vn/en/student/practical-experience-per/performance-objectives.html 

Appendix 1 – Performance Objectives

Interpersonal Qualities 

These are the important elements of interpersonal qualities that students must achieve. They are required to maintain a professional code of ethics, develop productive business relationships with stakeholders, and take initiative as a leader during work.

Performance Objectives Elements
Maintain a professional code of ethics
  • Act diligently and honestly, following codes of conduct, taking into account and keeping up-to-date with legislation.
  • Act with integrity, objectivity, professional competence, and due care and confidentiality. You should raise concerns about non-compliance.
  • Develop a commitment to your personal and professional knowledge and development. You should become a life-long learner and continuous improver, seeking feedback and reflecting on your contribution and skills.
Develop productive business relationships 
  • Display sensitivity, empathy, and cultural awareness in all your communications. This allows you to establish trust and credibility with a range of stakeholders and gain their confidence.
  • Use a range of mediums and make appropriate use of digital technology to communicate clearly, concisely, and persuasively in formal and informal situations.
  • Develop and build effective and ethical professional relationships and networks using face-to-face and digital technology
Apply leadership and self-development
  • Show initiative with your team – working towards organizational goals, collaborating with and supporting others.
  • Manage time and tasks effectively to meet business needs and professional commitments. You are capable of working under pressure.
  • Negotiate effectively and justify solutions logically and persuasively to colleagues and clients.

Core Skill

Tax

Students will be involved in planning the tax assessments and computing the relevant tax liabilities in accordance with the laws and regulations. They could represent the business to prepare and file the tax return and advise the business on the tax planning.

Performance Objectives Elements
Calculate and assess tax liabilities
  • Extract and analyze data from financial records and filing information to prepare tax computations and related documents.
  • Use appropriate technology to prepare tax computations or assessments and related documents.
  • Prepare or contribute to computations or assessments of indirect tax liabilities.
  • Explain the basis of tax calculations and the interpretation of the effect of current legislation and case law and ethical frameworks.
Verify and assess tax compliance
  • Sceptically verify client submissions – and submit on time to the tax authorities.
  • Determine the incidence (timing) of tax liabilities and their impact on cash flow/financing requirements.
  • Explain tax filing and payment – and the consequences of non-compliance to clients.
  • Identify allowable claims, or the need to object to/appeal an assessment, in a timely way.
  • Communicate professionally in both routine and specific inquiries.
Plan and advise on tax
  • Explain the differences between tax planning, tax avoidance, and tax evasion.
  • Review and advise on the potential tax risks and/or tax minimization measures for individuals and organizations.
  • Assess the tax implications of proposed activities or plans, referring to up-to-date legislation.
  • Mitigate and/or defer tax liabilities through standard reliefs, exemptions, and incentives.