Finance and Accounting update December 2016
Bernadette Newport, your new subject advisor welcomes you to her first subject update. The aim is to be both accessible and informative, keeping you up to date about any Accounting qualifications you’re delivering or planning to deliver in the near future. There will be qualification news, training and resource information and FAQs to help with your planning and delivery.
Read the latest information on International A Level Accounting, including key dates, latest news and training events.
Upcoming examination dates
| Unit Title | Unit No | Date | Time | Duration |
|---|---|---|---|---|
| Unit 1: The Accounting System and Costing | WAC11 | 9 Jan 17 | AM | 3 hrs |
| Unit 2: Corporate and Management Accounting | WAC02 | 16 Jan 17 | AM | 3 hrs |
October 2016 series examinations
Question papers and mark schemes are available on Edexcel Online:
| 2013 specification | Unit 1 (WAC01) |
| Unit 2 (WAC02) | |
| 2015 specification | Unit 1 (WAC11) |
Read the latest information on International GCSE Accounting, including key dates, latest news and training events.
GCSE (9-1) Accounting
The new GCSE (9-1) Accounting qualification is ready for first teaching in September 2017. It aims to extend students' knowledge by broadening and deepening skills. It uses International Accounting Standards (IAS) terminology and International Financial Reporting Standards (IFRS) principles, procedures and techniques. The recognised IAS terminology is listed in the specification on p 41-42.
Qualification Structure
The new qualification is adopting the new 9 to 1 grading scale, with 9 the top level. There is a fully linear structure so all qualifications must be taken at the end of the course of study.
Specification Content
The specification content has been updated and is divided into 2 papers:
Paper 1 (Introduction into Bookkeeping and Accounting) examines the following topic areas:
- Topic 1 - The Accounting Environment
- Topic 2 - Introduction to Bookkeeping
- Topic 3 - Introduction to Control Processes
- Topic 4 - The Preparation of Financial Statements
- Topic 5 - Accounting for End of Period Adjustments
Assessment
There are two papers:
Paper 1 (100 marks worth 66.6% of total International GCSE) - (2 hours) has 2 sections:
- Section A 10 x 1-mark MC questions + 3 x 5 mark short answer questions (25 marks)
- Section B 5 x 15 mark multi-part questions (75 marks)
Questions in Paper 1 will test knowledge, understanding and application.
Paper 2 (50 marks worth 33.3% of total International GCSE) - (1 hour 15mins) has 2 multi-part questions (50 marks).
In Paper 2, students need to apply their knowledge to realistic case studies to produce and correct Financial Statements.
The Assessment Objectives covered, including weightings across the two papers, are available on p26 of the specification.
Read the latest information on LCCI Financial & Quantitative, including key dates, latest news and training events.
| Upcoming exam dates | |
|---|---|
| January Exam Series | Exam and Level |
| Monday 16 January | L1 Bookkeeping (ASE20091) |
| Tuesday 17 January | L2 Cost Accounting (ASE20094) |
| Wednesday 18 January | L2 Bookkeeping and Accounting (ASE20093) L3 Accounting (ASE20104) L3 Financial Accounting (ASE20097) |
| Friday 20 January | L3 Cost and Management Accounting (ASE20098) |
| March Exam Series | |
| Monday 6 March | L1 Bookkeeping (ASE20091) |
| Tuesday 7 March | L2 Cost Accounting (ASE20094) |
Wednesday 8 March |
L3 Accounting (ASE20104) L3 Financial Accounting (ASE20097) |
| Thursday 9 March | L2 Bookkeeping and Accounting (ASE20093) |
| Friday 10 March | L3 Cost and Management Accounting (ASE20098) |
Are you using the correct version of the specification?
Please check that you are using the current version of the specification.
View the current versions of the LCCI specifications
Exam results: online results release date
- November Exam Series: 23 January 2017
- December Exam Series: 20 February 2017
Series entry deadlines
- March Exam Series: 23 January 2017
- April Exam Series: 20 February 2017
Free support materials
There have been a number of online feedback sessions relating to the June and July exam series. You may find it useful to listen to the recordings and download the accompanying materials:
- L1 Bookkeeping
- L2 Bookkeeping and Accounting
- L2 Cost Accounting
- L3 Business Statistics
- L3 Financial Accounting
- L3 Cost and Management
View the reading list for L3 Financial Accounting:
Publications
Current Pearson books available for purchase:
- L1 Bookkeeping
- L2 Cost Accounting
- L3 Cost & management Accounting
These can be ordered through your regional office.
News of future publications in next update.
Stay in touch with information from your new Accounting subject advisor
Bernadette also has a new Twitter account @PearsonAccFin. This has been established for teachers to obtain and exchange support, information, suggested resources, etc.