Level 3 Certificate In Accounting
Level 3Certificate inAccountingSyllabusEffective for examinations to be held after 1 January 2008(UK Accreditation No: 100/1450/0)ASP 0047 ALSG f0t@WJY2 ?h:Y3]0t9]@W q0z#
Vision StatementOur vision is to contribute to the achievements of learners aroundthe world by providing integrated assessment and learning services,adapted to meet both local market and wider occupational needsand delivered to international standards. Education Development International plc 2005 Company Registration No: 3914767All rights reserved. This publication in its entirety is the copyright of Education Development International plc.Reproduction either in whole or in part is forbidden without written permission from Education Development International plc.International House Siskin Parkway East Middlemarch Business Park Coventry CV3 4PETelephone: 44 (0) 8707 202909 Facsimile: 44 (0) 24 7651 6566Email: customerservice@ediplc.com
INTRODUCTIONEducation Development International (EDI) is a leading international awarding body that wasformed through the merger of the London Chamber of Commerce and Industry ExaminationsBoard (LCCIEB) and a leading online assessment provider GOAL. EDI now delivers LCCIInternational Qualifications (LCCI IQ) through a network of over 4000 registered centres inmore than 100 countries worldwide. Our range of business-related qualifications are trustedand valued by employers worldwide and recognised by universities and professional bodies.Level 3 Certificate in AccountingAimsThe aims of this qualification are to enable candidates to develop:zzzan understanding of the basic principles underlying the recording of businesstransactionsthe ability to prepare and interpret accounts for sole traders, partnerships, non-tradingorganisations, limited companies and groups of companies in accordance with basicaccounting conventions and current accounting practicethe ability to apply the principles of decision makingAssessment ObjectivesThe examination will assess the candidate’s ability to:zzzdemonstrate an understanding of the more advanced aspects of Level 1 Certificate inBook-keeping and Certificate in Level 2 Book-keeping and Accountsprepare accounts for a partnership in relation to alterations in partners’ interests andthe conversion of a partnership into a limited companyprepare accounting entries for a limited company to record the issue of share capitaland the issue and redemption of debentureszaccount for distributable profits and profits prior to incorporation for companieszprepare cash flow statements in accordance with FRS 1 (revised)zprepare a cash budgetzprepare a budgeted trading and profit and loss accountzcalculate and interpret accounting ratioszdemonstrate an understanding of the principles of decision makingzinterpret accounting statementszdemonstrate an understanding of accounting standards and concepts3
Target Audience and Candidate ProgressionThis qualification is suitable for candidates who work or wish to work in an advanced area ofaccountancy.All businesses require suitably skilled people who are able to prepare and maintain accurateaccountancy records. In addition they must be able to produce regular accountancystatements and explain their meaning to management. There continues to be a demand forpeople who possess these skills.Candidates who attempt this qualification must have the knowledge and skills equivalent tothe LCCI IQ Level 1 Certificate in Book-keeping and Level 2 Certificate in Book-keeping andAccounts qualifications.Successful candidates at Level 3 Certificate in Accounting can progress to study LCCI IQLevel 4 Financial Accounting.Level of English RequiredCandidates should have a standard of English equivalent to LCCI IQ Level 2 English forBusiness.Syllabus Topics1.Levels 1 and 2 revisited2.Valuation of stocks3.Valuation of fixed assets4.Partnerships5.Companies6.Accounting for groups of companies7.Cash flow statements8.Accounting ratios9.Budgetary control10.Introduction to decision making11.Concepts and accounting frameworkNote: Taxation, in all its forms, is excluded from this syllabus4
Coverage of Syllabus Topics in ExaminationsAt least two of the following syllabus topics will appear in each examination:4.Partnerships5.Companies6.Accounting for groups of companies7.Cash flow statements8.Accounting ratios10.Introduction to decision makingExamination FormatzThe time allowance for the examination is 3 hourszThe examination paper will comprise 5 questionszCandidates are required to answer 4 questions. No question will be compulsoryzAny question can relate to more than one topic area from the syllabusGuided Learning HoursEDI recommends that 140 - 160 Guided Learning Hours (GLHs) provide a suitable courseduration for an ‘average’ candidate at this level. This figure includes direct contact hours aswell as other time when candidates’ work is being supervised by teachers. Ultimately,however, it is the responsibility of training centres to determine the appropriate courseduration based on their candidates’ ability and level of existing knowledge. EDI experienceindicates that the number of GLHs can vary significantly from one training centre to another.Candidate Answer GuidanceAnswer FormatsThe answers required will be predominantly of a quantitative nature, but some questionswill also require candidates to provide short written answers.Candidate Performance MeasurementPass Mark InformationPassCreditDistinction50%60%75%5
Mark AllocationA positive marking approach is used. Although candidates will be penalised for initialcalculation errors, they will gain marks for consequential ‘own figures’ as long as the correctuse of principles has been demonstrated.SkillsCandidates will need to show that they can:zadd, subtract, divide and multiply, calculate and use percentageszprepare journal entries and ledger accountszpresent the final accounts of sole traders, partnerships, limited companies, includinggroups and non-trading organisations in appropriate formatzanalyse and interpret datazapply basic decision making techniqueszprepare financial data in compliance with Statements of Standard Accounting Practice(SSAP) and Financial Reporting Standards (FRS)Recommended Reading List and Support MaterialReading ListTitleAuthor(s)PublisherISBN CodeJoe Adomako andBala BalachandranLCCIEB1 86247 033 ZHarold RandallCambridgeUniv Press0 521 53993 5Preferred Text:How to Pass Accounting(Second edition)Recommended Additional Text:As Level and A LevelAccountingSupport MaterialA specimen paper with answers is available from the LCCI IQ website.6
Syllabus TopicItems Covered1Candidates must be able to:Levels 1 and 2 revisited1.1Undertake more advanced examplesof syllabus topics contained in thesyllabi at Levels 1 and 2 and notcovered elsewhere in this syllabus.Special reference will be made to thefollowing: 2Valuation of stocks2.22.3Accounting for depreciation andbad and doubtful debtsPreparation of final accounts for asole traderPreparation of final accounts fromincomplete recordsPreparation of final accounts for anon-trading organisationPreparation of ManufacturingAccountsSales and Purchase LedgerControl Accounts andreconciliation with the total of thelist of balances in the subsidiarysales and purchase ledgersCorrection of errors and use ofsuspense accountCandidates must be able to:2.1Undertake more advanced examplesof the Level 2 syllabus for this topicarea2.2.1Explain the objectives of stockAccounts2.2.2Prepare stock accounts2.2.3Differentiate between perpetual andperiodic stock valuation2.3.1Explain and/or apply the followingcost bases: FIFO; average cost;replacement cost; standard cost.Stock accountsStock valuationfor final accountsExclusion:The study of long-term contracts is not arequirement of this syllabus7
2.4Ascertaining stock in theabsence of physicalstocktaking2.4.134Valuation of fixed assetsPartnerships4.2Adjust stock valuation for stockmovement before or after end ofaccounting periodCandidates must be able to:3.1Undertake more advanced examplesof the Levels 1 and 2 syllabi for thistopic area3.2Explain and apply the followingadditional methods of depreciation:Units of output; machine hour; sum ofyears’ digits; annual revaluation3.3Calculate the effect of a change inthe basis of depreciation of a fixedasset3.4Calculate the change in the chargefor depreciation when there is achange in the life and/or residualvalue of a fixed assetCandidates must be able to:4.1Undertake more advanced examplesof the Level 2 syllabus for this topicarea4.2.1Prepare entries for the division ofprofits/losses in accordance with apartnership agreement4.2.2Prepare entries for the division of atrading and profit & loss accountinto periods before and after the dateof change in a partnershipagreement, if within an accountingperiod, using time, turnover andother bases4.2.3Prepare entries to partners' capitalaccounts for funds introduced/WithdrawnChanges in partnershipinterests during a financialyear8
4.2.4Prepare entries for the adjustment ofpartners' capital and/or currentaccounts for share of unrecordedassets/liabilities when profit/lossratios are changed4.2.5Prepare entries for the inclusion orexclusion from the books of anyassets/liabilities in accordance withpartners' decisions4.3.1Prepare the entries to partners'capital accounts for funds introduced/withdrawn4.3.2Make adjustment to partners' capitaland/or current accounts for share ofunrecorded assets/liabilities4.3.3Divide a trading and profit & lossstatement into periods before andafter date of admission or retirementof partners, if within an accountingperiod using time, turnover and otherbases of apportionment4.4.1Prepare a sale of business account inpartnership books4.4.2Prepare a dissolution (realisation)account in partnership books4.4.3Show the distribution of proceedsbetween partners4.4.4Close the partners' capital accountsin partnership books4.4.5Prepare a purchase of businessaccount in company books4.4.6Record the issue of shares anddebentures etc in company books4.4.6Record goodwill in company books4.4.7Divide profits before and afterincorporation4.3 Admission or retirementof partners during a financialyear4.4 Conversion into a company9
5Companies5.2Candidates must be able to:5.1Undertake more advanced examplesof the Level 2 syllabus for this topicarea5.2.1Prepare the application and allotmentaccount5.2.2Prepare the share capital anddebenture accounts5.2.3Prepare the share and/or debenturepremium accounts5.2.4Record the calls on shares anddebentures5.2.5Record the redemption of debentures5.3.1Record the purchase, by a company,of its own ordinary shares out of theproceeds of a new issue made forthat purpose5.3.2Record the purchase, by a company,of its own ordinary shares out ofdistributable reserves5.3.3Record the purchase, by a company,of its own ordinary shares from a mixof a new issue and distributablereserves5.3.4Record the redemption of preferencesharesIssue of shares and issueand redemption ofdebentures5.3 Purchase of own ordinaryshares and redemption ofpreference shares5.4Rights and bonus (capitalisation)issues of shares5.4.15.4.210Explain what is meant by a rightsissue of shares and prepare thenecessary accountsExplain what is meant by a bonusissue of shares and prepare thenecessary accounts, makingappropriate use of available reserves
5.55.66Distributable profits5.5.1Assess the influence of liquidity on thedecision whether or not to distributeprofits5.6.1Calculate the profit earned prior toincorporation5.6.2Apply the required accountingtreatment to the pre-incorporationprofitsProfits prior to incorporationAccounting for groups ofcompaniesCandidates must be able to:6.1Prepare a consolidated profit andloss account and /or balance sheetfor a simple group6.2Calculate goodwill on consolidation orcost of control6.3Calculate minority interest6.4Calculate group retained earnings6.5Treat profits in stock6.6Treat inter-company dividends6.7Treat inter-company balances6.8Treat items in transit e.g. stock andcash6.9Treat fair value of fixed assets6.10Explain the reasons for theadjustments used in consolidationExclusion:No questions will be asked involving: Piecemeal acquisitions Subsidiaries with preferenceshares Sub-subsidiaries Associates Mergers7Cash flow statementsCandidates must be able to:7.111Explain and use the formatscontained in FRS 1 (revised)
7.28Accounting ratiosPrepare cash flow statements inaccordance with FRS 1 (revised)Candidates must be able to:8.1Undertake more advanced examplesof the Level 2 syllabus for this topicarea8.2.1Gearing8.2.2Sales to fixed assets8.2.3Sales to capital employed8.2.4Net profit to total assets employed8.2.5Earnings per share8.2.6Price/earnings8.2.7Dividend yield8.2.8Dividend cover for ordinary shares8.2.9Earnings yield8.2.10Interest cover8.2 Calculate the followingadditional ratios:Where an examination question requires theuse of a specific version of a ratio formula(e.g. gearing) this will be clearly stated in thequestion.8.39Further considerationsBudgetary control9.18.3.1Interpret and comment upon theratios8.3.2Prepare final accounts using ratiosCandidates must be able to:Cash budgets9.1.1Calculate budgeted cash inflows andcash outflows for each period9.1.2Prepare cash budgets using acolumnar layout in accordance withthe periods required e.g. weekly,monthly, quarterly (three monthly)etc.12
9.29.310Budgeted statements9.2.1Prepare a budgeted trading and profit& loss account and/or balance sheetfrom given information. The use ofaccounting ratios may be required9.3.1Comment upon the results obtainedfrom the preparation of cash budgetsand budgeted trading and profit &loss accounts and balance sheetsInterpretationIntroduction to decision makingCandidates must be able to:10.1 Breakeven10.1.1Explain what is meant by thebreakeven point10.1.2Calculate the breakeven point in bothsales units and sales value10.1.3Calculate the profit or loss for a givennumber of units sold10.1.4Calculate the number of unitsrequired to be sold in order togenerate a given amount of profit10.1.5Comment upon the results obtainedExclusion:Questions will not be set involving thepreparation of a breakeven graph or chart10.2 Simple payback10.2.1Explain what is meant by the paybackmethod of investment appraisal10.2.6Calculate the payback period usingeither constant or uneven cash flows10.2.7Comment upon the results obtainedand make recommendations10.2.8State the advantages anddisadvantages of using payback as amethod of investment appraisalExclusion:Questions will not be set involving discountedpayback13
10.3 Net present value methodof discounted cash flow10.3.1Explain the meaning of the time valueof money10.3.2Explain what is meant by net presentvalue (either positive or negative)Calculate net present value. Extractsfrom discount tables will be provided10.3.310.3.4Comment upon the results obtainedand make recommendations10.3.5State the advantages anddisadvantages of using net presentvalue as a method of investmentappraisalExclusion:Questions will not be set involving any otheraspects of discounted cash flow e.g.annuities, perpetuities or IRR10.4 Accounting rate of return10.4.1Explain what is meant by theaccounting rate of return10.4.2Calculate the accounting rate ofreturn using the formula:average profits after depreciation but before interest x 1001initial capital costs11Concepts and accountingframework10.4.3Comment upon the results obtainedand make recommendations10.4.4State the advantages anddisadvantages of using theaccounting rate of return as a methodof investment appraisalCandidates must be able to:11.1Explain the following: 14Going concern conceptAccruals or matching conceptPrudence conceptConsistency conceptEntity conceptSeparate valuation principleMateriality conceptHistorical cost conventionObjectivity conceptDuality conceptSubstance over form
11.2Explain and apply the principlesincorporated in the followingaccounting standards; SSAP 9 - Stocks (long termcontracts will not be examined) FRS 1 (revised) - Cash flowstatements FRS 2 - Accounting for subsidiaryundertakings FRS 15 - Tangible fixed assetsNote:If any standard is either revised or replaced,the revised or replaced standard will becomeexaminable 18 months after it is issued15
Education Development International plc 2005-2007 Company Registration No: 3914767All rights reserved. This publication in its entirety is the copyright of Education Development International plc.Reproduction either in whole or in part is forbidden without written permission from Education Development International plc.International House Siskin Parkway East Middlemarch Business Park Coventry CV3 4PETelephone: 44 (0) 8707 202909 Facsimile: 44 (0) 24 7651 6566Email: customerservice@ediplc.com16
Advanced BusinessCalculationsThird LevelExtended SyllabusEffective from 1 October 2001MH N P212 9 T XZ f2[EW2rJY2 @dMc3]@oNYIo9o#
INTRODUCTIONExtended Syllabuses are part of a comprehensive package of support materials currently beingdeveloped by the LCCIEB. This package includes past question papers, Examiners’ Reports,Model Answers, and a range of How to Pass books, all of which are designed to offer extra helpand guidance to teachers and candidates, and to enhance chances of success in LCCIEBexaminations.What are they?Extended Syllabuses specify in detail the learning and assessment requirements of LCCIEBawards.Each one, produced by the subject Chief Examiner, will state in detail the following: Aims and assessment objectives of the award Intended target audience and possible candidate progression for holders of the award Level of English required Syllabus topics and syllabus coverage in examinations Assessment weightings and examination format Guided learning hours Candidate answer guidance Pass mark information and mark allocation Recommended reading list and support material Detailed listing of syllabus topics and syllabus elementsWho are they for and how can they be of use?They are designed for: Teachers who will find them invaluable when designing courses and planning lessons. Candidates who will find them essential because they can be used as checklists whenpreparing for examinations. Candidates will also be able to refer to Extended Syllabuseswhen planning revision programmes.1
AimsThe aims of this syllabus are to enable candidates to develop: A broad knowledge and understanding of advanced business calculations in relation to simpleand compound interest, stock exchanges, business ownership, profitability and liquidity,investment appraisal, bankruptcy, depreciation of business assets and index numbers The ability to apply this knowledge and understanding in a business situation A knowledge and understanding of related terminologyAssessment ObjectivesAfter successfully completing this examination candidates will be able to: Calculate simple and compound interest in business situations over periods measured in days,months, or years, including the use of the appropriate formulae Perform standard business calculations involving shares, debentures, stocks and unit trusts Perform standard business calculations involving revenue and costs, trading and profit andloss accounts, balance sheets, and including break-even analysis Perform standard business calculations involving the more common ratios used to assessprofitability and liquidity Perform standard investment appraisal involving payback, average rate of return, internal rateof return, and net present value Perform standard bankruptcy calculations involving assets and liabilities, secured andunsecured creditors, and dividends Perform standard calculations of the depreciation of business assets involving the equalinstalment method and the diminishing balance method Perform calculations of index numbers involving basic indices relative to price and toquantity, including a change in the base year Use and understand appropriate mathematical and business terminologyTarget A
the LCCI IQ Level 1 Certificate in Book-keeping and Level 2 Certificate in Book-keeping and Accounts qualifications. Successful candidates at Level 3 Certificate in Accounting can progress to study LCCI IQ Level 4 Financial Accounting. Level of English Required Candidates should have a standard of English e
FINANCIAL ACCOUNTING : MEANING, NATURE AND ROLE OF ACCOUNTING STRUCTURE 1.0 Objective 1.1 Introduction 1.2 Origin and Growth of Accounting 1.3 Meaning of Accounting 1.4 Distinction between Book-Keeping and Accounting 1.5 Distinction between Accounting and Accountancy 1.6 Nature of Accounting 1.7 Objectives of Accounting 1.8 Users of Accounting Information 1.9 Branches of Accounting 1.10 Role .
Level 3 Accounting OVERVIEW – Course Information page ii General Overview NCEA Level 3 Accounting covers partnership accounting, company accounting, company annual report interpretation, cost accounting, management accounting and decision making. The Accounting Scholarship Standard is one standard with a focus on repo
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Certificate Course Smart Phone Repairing 10th Pass / Fail Certificate Course in Mobile Repairing 10th Pass / Fail 6 Months Certificate Name of The Courses Required Qualification Certificate Course in Electronics 10th Pass / Fail Certificate Course in Black & White TV Servicing 10th Pass / Fail Certificate Course in Black &With Color TV & DVD 10th Pass / Fail Certificate Course in Color TV .
Accounting Policies, Changes in Accounting Estimates and Errors Objective 1 The objective of this Standard is to prescribe the criteria for selecting and changing accounting policies, together with the accounting treatment and disclosure of changes in accounting policies, changes in accounting estimates and
ACCT 2100 Principles of Accounting 3 Ph.D. Accounting Virginia Tech Yes ACCT 3131 Cost Accounting I 3 Yes Berrigan, Isabel M ACCT 3124 Governmental Accounting 3 M.S. Accounting - Auditing University of New Orleans No ACCT 2100 Principles of Accounting 3 M.S. Accounting University of New Orleans No ACCT 3
Accounting Education, (2) Accounting Education, (3) Advances in Accounting Education, (4) Global Perspectives on Accounting Education, (5) Issues in Accounting Education, and (6) The Accounting Educators’ Journal. As noted in Table 1, this article is the 12th in a series of accounting education literature reviews first published in 1986.
pihak di bawah koordinasi Kementerian Pendidikan dan Kebudayaan, dan dipergunakan dalam tahap awal penerapan Kurikulum 2013. Buku ini merupakan “dokumen hidup” yang senantiasa diperbaiki, diperbaharui, dan dimutakhirkan sesuai dengan dinamika kebutuhan dan perubahan zaman. Masukan dari berbagai kalangan diharapkan dapat meningkatkan kualitas buku ini. Kontributor Naskah : Suyono . Penelaah .
