Finance and Accounting update December 2016

Thu Dec 15 15:37:00 UTC 2016

Bernadette Newport, your new subject advisor welcomes you to her first aubject 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 more

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
Paper 2 (Financial Statements) examines the following topic areas:
  • Topic 4 - The Preparation of Financial Statements
  • Topic 5 - Accounting for End of Period Adjustments
Paper 2 is more holistic in approach, building on the skills, understanding and knowledge of topics 1-3 in addition to the content of topics 4 and 5.

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)

{{ gatDoctitle }}

{{invalidUserName}}
{{invalidUserMail}}
{{errorMessage}}

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:

View the reading list for L3 Financial Accounting:

{{ gatDoctitle }}

{{invalidUserName}}
{{invalidUserMail}}
{{errorMessage}}

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.

Sign up to receive subject advisor emails

Bernadette Newport, Finance and accounting subject advisor
Bernadette NewportFinance and Accounting
UK: 020 7010 2138
Intl: + 44 (0)20 7010 2138
What do you think?
Close