Pearson LCCI Level 3 Certificate in Accounting

Last updated
Last verified
This QIP covers a vocational qualification which is not listed on the Department for Education (DfE) 16 – 19 performance tables for England.

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.

Countries
  • England
  • Wales
  • Northern Ireland
  • International
Purpose

Vocational qualifications are either work-related qualifications designed to enable learners 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 learners.


This is a broad-based qualification which offers learners 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 (ICCI) financial qualifications and alongside AS or A levels. 

Education context

This qualification is designed for post-16 learners 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 learners 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 learners), 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.

Awarding organisation
  • Pearson (Edexcel)
Qualification code
601/7932/6 (Pearson LCCI Level 3 Certificate in Accounting)
Structure

A linear single unit qualification, consisting entirely of mandatory content.

Subject areas
  • Accounting
  • Valuation of stocks
  • Valuation of fixed assets
  • Partnerships
  • Companies
  • Accounting for groups of companies
  • Cash flow statements
  • Accounting ratios
  • Budgetary control
  • Introduction to decision-making
  • Concepts and accounting framework
Levels
  • 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.

Grading

Distinction, Merit, Pass.

Assessment

There is one examination paper of three hours duration, with a total of 100 marks.

Contribution of assessment components to overall grade

The single exam is 100% of the assessment.

Resit arrangements

This is a linear qualification, so resitting is not applicable.

Guided/notional learning hours
150 hours
UCAS Tariff points

Pearson LCCI Certifcate in Accounting

Grade Points
D 24
M 18
P 14
Key issues for UK HE admissions

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 learners 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 qualifiation:

  • Learners may take this qualification alongside other LCCI financial qualifications, and/or alongside AS/A levels, and progress to higher level programmes.
  • First teaching was 2010, but the specification was updated in October 2015. 
Timing of assessments/results for students

There are eight exam series in each year. Results are published in March, May, June, August, September, November, January, and February.

Qualification date
Starting from 01 Oct 2015
Qualification dates notes

This is a current qualification.

Reporting and certification information

The results of this qualification are reported to UCAS through Awarding Body Linkage (ABL).

View the results available through ABL.

In the calendar year 2016, there were:

  • 2,110 certifications on the old specification
  • 1,557 certifications on the new specification

These were mainly international students.

Progression information

Students may take this alongside other LCCI financial qualifications, and/or alongside AS or A levels, and progress to higher level programmes.