Pearson LCCI Level 3 Certificate in Accounting (IAS)

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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 an academic yet practical approach to the accounting discipline, and the opportunity to gain knowledge and experience in using the International Accounting Standards (IAS). It aims to allow candidates to develop the ability to prepare accounting statements and data in accordance with basic accounting conventions and current international accounting practice, with reference to disclosure of accounting policies, inventory, accounting for depreciation, cash flow statements, and group accounts, and the ability to use and interpret accounting statements and data.

Learners may take this alongside other London Chamber of Commerce and Industry (LCCI) financial qualifications, and/or alongside AS/A levels, and progress to higher level programmes.

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
500/1529/1 (Pearson LCCI Level 3 Certificate in Accounting (IAS))
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, and 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
160 hours
UCAS Tariff points

Pearson LCCI Certifcate in Accounting (IAS)

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 qualification:

  • It may be taken alongside other Level 3 qualifications, such as A levels, to help meet entry requirements for a range of higher level, programmes. 
  • It has been withdrawn. Final certifications were on 20 June 2017.
  • It is being replaced by the revised qualification entitled Pearson LCCI Level 3 Certificate in Accounting. The QIP for the new qualification is available at: https://qips.ucas.com/qip/pearson-lcci-level-3-certificate-accounting
Timing of assessments/results for learners

On demand and at fixed dates in April, June, and November.

Qualification date
01 Dec 2006—20 Jun 2017
Qualification dates notes

This qualification has been withdrawn. It is being replaced by the revised qualification entitled Pearson LCCI Level 3 Certificate in Accounting. Final certifications were on 20 June 2017.

Reporting and certification information

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

View the results available through ABL.

There were 7,174 certifications in the calendar year 2016 (mainly international students).

Progression information

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