Pearson LCCI Level 3 Certificate in Financial Accounting (VRQ)

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LCCI qualifications in accounting and finance

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.

Countries
  • England
  • Wales
  • Northern Ireland
  • International
Purpose

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.

Education context

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.

Awarding organisation
  • Pearson (Edexcel)
Qualification code
601/5186/9 (Pearson LCCI Level 3 Certificate in Financial Accounting (VRQ))
Structure

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

Subject areas
  • 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
Levels
  • 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.

Grading

Distinction, Merit, Pass

Assessment

There is one examination paper of three hours duration, with five compulsory questions, and a total of 115 marks.

Contribution of assessment components to overall grade

The single exam makes up 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 Level 3 Certificate in Financial Accounting (VRQ)

Grade Points
D 24
M 16
P 8
Timing of assessments/results for learners

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 Jan 2015
Qualification dates notes

This is a current qualification.

Reporting and certification information

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.

View the results available through ABL.

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. 

Progression information

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.