This may be taken as a stand alone qualification, or as a mandatory component of the Pearson LCCI Level 3 Diploma in Accounting and Finance.
- Northern Ireland
Schools and colleges may offer qualifications that are not included in the performance tables, if approved for teaching to 16-19 year olds, where this is in the best interests of individual students.
This qualification is not listed on the 16-19 performance tables. It is taken in a large number of international schools and colleges.
Learners will gain the skills to produce financial records, summarising an organisation’s financial transactions over a specific accounting period, and its current financial position in terms of assets, liabilities, and capital.
The qualification may be taken alongside the Pearson LCCI Certificate in Cost & Management Accounting and the Pearson LCCI Certificate in Business Statistics, to achieve the Pearson LCCI Level 3 Diploma in Accounting & Finance. Alternatively, it may be taken alongside A levels.
- Pearson (Edexcel)
A linear, single unit qualification, consisting entirely of mandatory content.
- Accounting and financial studies
- The purpose of maintaining financial records
- Recording financial transactions
- Balancing accounts and the trial balance
- Adjustments and the extended trial balance
- Produce final accounts of a sole trader
- Introduction to interpretation of financial statements
- Level 3
Level 3 qualifications regulated to the Regulated Qualifications Framework (RQF).
A levels are also Level 3 qualifications regulated to the Regulated Qualifications Framework.
Level 3 is the same level as the Scottish Credit and Qualifications Framework (SCQF) Level 6.
Distinction, Merit, Pass
There is one examination paper of three hours duration, with five compulsory questions, and a total of 115 marks.
The single exam makes up 100% of the assessment.
This is a linear qualification, so resitting is not applicable.
Pearson LCCI Level 3 Certificate in Financial Accounting (VRQ)
There are eight exam series in each year. Results are published in March, May, June, August, September, November, January, and February.
This is a current qualification.
The results of many UK qualifications are reported to UCAS through Awarding Body Linkage (ABL).
- A levels and results from larger awarding bodies are reported automatically
- IB results are only reported with the candidate’s permission
- Some results are not reported through ABL, this does not reflect the validity of the qualification.
Where results are not available through ABL, HEPs will need to ask applicants to provide their own evidence of achievement.
There were 628 certifications in the calendar year 2016. These were mainly international students.
Results of this qualification are reported through ABL.
Learners may take this qualification alongside the Pearson LCCI Certificate in Cost & Management Accounting and the Pearson LCCI Certificate in Business Statistics, to achieve the Pearson LCCI Level 3 Diploma in Accounting & Finance. Alternatively, it may be taken alongside A levels. Either route should enable progression to higher level programmes, particularly those in accounting and finance.