This qualification is not listed on the DfE 16 – 19 performance tables because it is not designed to meet the requirements of the Key Stage 5 performance tables.
London Chamber of Commerce and Industry (LCCI) qualification in accounting and finance. This qualification may be taken as a stand-alone qualification, but may also be taken as an optional component of the Pearson Level 3 Group Diploma in Cost and Management Accounting or the Pearson Level 3 Group Diploma in Accounting.
- England
- Wales
- Northern Ireland
- International
Vocational qualifications are either work-related qualifications designed to enable students to gain the skills required to perform a particular job, or qualifications that may be taken as part of a wider study programme or an apprenticeship.
Schools and colleges may offer qualifications that are not included in the DfE performance tables, if approved for teaching to 16-19 year olds by the Secretary of State for Education in England under Section 96, where this is in the best interests of individual students.
This is a broad-based qualification which offers students not only an academic perspective, but also a practical approach to the accounting discipline. It aims to allow candidates to develop, an understanding of the basic principles underlying the recording of business transactions, the ability to prepare and interpret accounts for sole traders, partnerships, non-trading organisations, limited companies, and groups of companies in accordance with basic accounting conventions and current accounting practice, and the ability to apply the principles of decision-making.
Students may take this qualification alongside other London Chamber of Commerce and Industry (LCCI) financial qualifications and alongside AS or A levels.
This qualification is designed for post-16 students and falls under the oversight of the Department of Business, Energy and Industrial Strategy (BEIS) and the Education and Skills Funding Agency (ESFA). A significant number of students will undertake these qualifications post-19.
Following its 2012 review of post-19 qualifications the ESFA removed 1,800 qualifications from public funding and a further 1,000 in 2014. In March 2014 the government published a Reform Plan for Vocational Education.
This qualification has not been subject to the same reforms as Applied General and Tech Level qualifications (which are specifically designed for 16-19 year old students), however the ESFA has implemented a new set of business rules for the approval of qualifications for funding, based on the 2013 Review of Adult Vocational Qualifications in England. These rules recognise that adults may have different needs, aspirations and ambitions to younger people and include that qualifications should be:
- relevant to individuals and employers and affordable for all sizes of business and for individuals
- rigorous and based on a robust future-looking occupational standard designed and assessed by the sector
- recognised as worthy of investment, giving a clear signal of the economically valuable skills, knowledge and understanding required in an occupation now and in the future.
Regulation of vocational qualifications
The regulation of vocational qualifications is the responsibility of the respective regulators in each UK country – Ofqual (England), CCEA Regulation (Northern Ireland) SQA (Scotland) and Qualifications Wales (Wales). The regulatory approach undertaken for vocational qualifications is different from A levels. This is because there are no specific qualification criteria for vocational qualifications, as there currently are for GCSEs, AS and A levels. Vocational qualifications must comply with the regulator’s general rules, as is the case with all regulated qualifications.
- Pearson (Edexcel)
A linear single unit qualification, consisting entirely of mandatory content.
- Accounting
- Accounting concepts and framework
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Recording financial transactions
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Preparation of an extended trial balance
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Preparation of financial statements
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Preparation of accounting from incomplete records
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Interpretation of financial statements
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Budgetary control
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Introduction to decision making.
- Level 3
Level 3 qualifications are regulated to the Regulated Qualifications Framework (RQF) in England and Northern Ireland and the Credit and Qualifications Framework for Wales, though many may be offered on a three-country basis.
Level 3 is broadly aligned to the Scottish Credit and Qualifications Framework (SCQF) Level 6 / 7.
Distinction, Merit, Pass.
There is one examination paper of three hours duration, with a total of 100 marks.
The single exam is 100% of the assessment.
Candidates can resit the examination for this qualification.
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There are a number of key considerations for HEPs when reviewing vocational qualifications that are not listed on the DfE 16 – 19 performance tables for England:
- Some of these qualifications are occupational, and may not be designed specifically for progression to HE.
- Applicants holding these qualifications may be school or college leavers, however, some may be more mature students who are likely to have other relevant experience alongside these qualifications.
- These qualifications may have been taken as part of a wider study programme or an apprenticeship.
- If they are presented for admission to HE it is likely to be in conjunction with other qualifications.
In respect of this qualification:
- Students may take this qualification alongside other LCCI financial qualifications, and/or alongside AS/A levels, and progress to higher level programmes.
- First teaching was 2015, but the specification was updated in 2017.
There are seven exam series in each year but LCCI qualifications do not run in every series. This qualification runs in April, June, July, September, November and December. Results are published in March, June, August, September, November, January, and February.
This is a current qualification.
Students may take this alongside other LCCI financial qualifications, and/or alongside AS or A levels, and progress to higher level programmes.