Two of my friends submitted their PERT reports and got them reviewed in about two weeks’ time (compared to the 9 weeks I waited last time) in June. Since I had been filling our my PERT report via EVR regularly for months now, I decided to submit what I have accumulated so far. It ended up taking less than a week for CPABC to review my report. I also got my first Level 2 for technical competencies and another three Level 2s for enabling competencies. Happy does not even justify how they made me feel.
Note, my examples are meant for you to refer to as inspiration so you can tie what you do at work to the different competencies. I am obligated to remind all of us that CPA takes plagiarism very seriously.
Are you looking for a comprehensive guide for PERT with Level 1 & 2 examples and tips? Check out my Ultimate CPA PERT Guide!
Things to Note – Roles & Progression
What Role Did I Get These Experiences In?
I got the examples in this post working as a Corporate Accountant for a software company. The timing of this submission was perfect as I started as a Revenue Accountant on the same team in mid-July so I submitted my new job description at the same time.
My PERT Progression – From AP to Accountant
Since I have been reporting my experience on PERT since I started Core 1, my experiences were reported as real-time as possible. I started my reporting as a Senior Accounts Payable Specialist before I took on a Corporate Accountant role at my current employer. Therefore, the progression in my reporting happened as my career progressed.
My AP role focused on recurring payable transactions and month-end close with minimal complexity. At that job, I got the following:
– 4 x Level 1 in enabling competencies
– 4 x Level 1 in technical competencies
In my Corporate Accountant role, I got the following:
– 4 x Level 2 in enabling competencies
– 3 x Level 1 in technical competencies
– 1 x Level 2 in technical competencies
CPA PERT Level 2 Enabling Competency Examples
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Acting Ethically and Demonstrating Professional Values
Task: to perform risk analyses of countries we have never done businesses in before or with a new customer in a high-risk country
Level 2 Submission
I first talked about the reason why this analysis was done (risk management as we want to make sure we are conducting businesses with the right customers). I then described how my objectivity (one of CPA values) was in conflict as I might have pre-conceived opinions about the country I was researching about and that my year-end bonus was partially dependent on sales (which would make me biased toward making the deal happen so higher sales). I also highlighted the importance of reporting facts and not opinions (further tying it to objectivity). I discussed the stakeholders involved (e.g., both my company and our parent company) and the impact of my action (e.g., to assist the management in making an informed decision that will minimize risk).
Task: I was asked by my manager to hold a 45-minute training presentation for our new sister company on how our accounting system worked. I had to make sure the session was as informative as possible with minimal notice and guidance (as our sister company was new and not quite sure what they needed to know).
Level 2 Submission
I first described the situation by explaining who made the request and why it was important for the session to go well (e.g., we were welcoming our new sister company). I then explained the factors that made this task challenging: last-minute notice, vague guidance (as the sister company did not know what they needed to know) and the importance of catering my presentation to the financial literacy level of the audience (all accountants). I detailed my approach to solve all the challenges, the results and the feedback from the audience and my manager.
Task: I was asked by my CFO to complete a checklist for an expansion opportunity. I have only done this task once before with my manager’s assistance.
Level 2 Submission – Recognizes Limits to Professional Competence
I first identified the main issue of this task: I had minimal experience with filling out the checklist and the version of the form I was asked to fill out this time was a lot longer than the version I had filled out before. I then detailed my options (e.g., fill it out as much as I could without asking for help). I analyzed my options by listing out the pros and cons. I then concluded by explaining which option I went with and why (ask my manager for help). I explained how my effort was successful as I tried my best to fill as much of the form out without jeopardizing the quality of the work (did not guess).
CPA PERT Level 1 Technical Competency Examples
Income tax legislation and research (TX1)
Task: I was asked to come up with the true-up entry and monthly accrual amount for SR&ED for 2021.
Note: the reviewer reminded me to obtain more experience under this competency as one-time task will not qualify for Level 1 so I will get downgraded if I don’t report more examples next time
Level 1 Submission
I first described the issue by briefly explaining why I was asked to come up with the true-up and accrual for SR&ED. I then detailed how I research the Income Tax Act and CRA website to gain an understanding on what would be considered eligible SR&ED expenses. On top of that, I did some research on our corporate policy on SR&ED accrual and asked our project manager to confirm the accuracy of the historical data.
CPA PERT Level 2 Technical Competency Example
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Financial Statement Analysis (FR4)
Tasks: quarterly financial statement analysis, monthly expense analysis and ad-hoc variance analysis
- Financial statement analysis (quarterly)
I first explained why this analysis needed to be done quarterly (corporate’s requirement). I then detailed my approach on how I perform the analysis (e.g., identified the items that exceeded the threshold). I provided a couple of specific examples of variances I found and investigated.
- Expense analysis (monthly)
I first explained the frequency of this task (monthly) and the reason why this was done (to spot anomalies). I also explained what I expected to see (e.g., benefits costs should correlate with payroll costs). I provided a couple of examples of anomalies I have identified and the outcome of my investigations (e.g., higher recruitment expense than last month due to unplanned departmental expansion). I also highlighted the importance of this task as it can spot errors.
- Variance analysis (ad-hoc)
I described the time I was asked by my manager to look into an unexpected drop in support hours. I detailed how I compiled the data from different sources (from the departmental manager and from our accounting software). I then explained how I calculated some relevant ratios and investigated by looking at the trends. I then provided my conclusion on the matter and the recommendations I provided to my manager.