Preparatory Course For Pearson Lcci Level 3 Diploma In Accounting And Finance (For Beginners)

LCCI qualifications are awarded by Pearson, the UK’s largest awarding body offering academic and vocational qualifications that are globally recognised and benchmarked.

Pearson is the world’s leading learning company, with 40 000 employees in more than 70 countries working to help people of all ages to make measurable progress in their lives through learning.

LCCI qualifications are widely regarded by employers as preparing students to carry out the key functions of modern international business. The qualifications are recognised worldwide by employers, universities and professional bodies such as the Association of Chartered Certified Accountants (ACCA).

This new and engaging range of qualifications has been developed in collaboration with professional bodies, employers and customers.

We have conducted in-depth, independent consultation to ensure that the qualifications develop the breadth and depth of knowledge, skills and understanding that students need to be effective employees, and that the qualifications support progression pathways.

LCCI offers a wider range of qualifications; they are available at levels 1 to 4 across the following subject areas:

• English Language

• Marketing and Customer Service

• Business, Administration and IT

• Finance and Quantitative.

This specification is part of the Finance and Quantitative suite of LCCI qualifications.

Programme Learning Outcomes:

• The Level 1 Certificate in Bookkeeping (VRQ) (ASE20091) is intended for students who wish to acquire the essential skills and knowledge of maintaining business records, using books of original entry and double-entry bookkeeping and who are working or preparing to work, in areas of business that will involve the recording of financial transactions. The qualification is also for those students who wish to understand bookkeeping in accordance with the International Accounting Standards (IAS). The qualification will give students the opportunity to develop an understanding of the basic principles underlying the recording of business transactions and to develop an the ability to maintain the books of and prepare financial statements for sole traders. The qualification is an introduction to bookkeeping and allows progression to the Pearson LCCI Level 2 Certificate in Bookkeeping and Accounting (VRQ) (ASE20093) and supports progression into the job market, for example, in a bookkeeping role within a large company’s finance department.

• The Level 2 Certificate in Bookkeeping and Accounting (VRQ) (ASE20093) is intended for students who wish to gain a thorough foundation in bookkeeping and accounting practices, including double-entry bookkeeping. It is also for students who wish to understand bookkeeping and accounting in accordance with the International Accounting Standards (IAS). The qualification is also for those who are working in, or who are preparing to work, in an accounting environment maintaining financial records and preparing accounts. The Pearson LCCI Level 2 Certificate in Bookkeeping and Accounting (VRQ) (ASE20093) builds on the knowledge and skills acquired from the Pearson LCCI Level 1 Certificate in Bookkeeping (VRQ) (ASE20091). This qualification will give students the opportunity to develop an understanding of the basic principles underlying the recording of business transaction. It will also give students the ability to prepare and interpret accounts for sole traders, partnerships, limited companies, manufacturing and non-profit making organisations. The Pearson LCCI Level 2 Certificate in Bookkeeping and Accounting (VRQ) (ASE20093) will allow progression to other LCCI Level 3 accounting qualifications, for example, the Pearson LCCI Diploma in Accounting and Finance qualification and supports progression to the job market, for example, to a book keeping and accounting role within a large company’s finance department. The Pearson LCCI Level 2 Certificate in Bookkeeping and Accounting (VRQ) (ASE20093) will support students who run their own business and who need to carry out their own bookkeeping and those already working in accounting who would like to enhance their skills.

• The Level 3 Certificate in Financial Accounting (VRQ) (ASE20097) (Core Module) is for students who work in, or want to work in, accounting environments. The qualification provides students with the key knowledge and understanding of accounting principles and concepts underlying all financial accounting including the preparation of accounting entries for non-current assets; advanced bookkeeping; the preparation of journals for correction of errors and year-end adjustments; the preparation of the extended trial balance to incorporate these adjustments and the preparation of financial accounts for unincorporated businesses (sole traders and partnerships). Students will gain 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. This qualification is trusted and valued by employers worldwide and recognised by universities and professional bodies. This will increase students’ employability in the sector and allow them to continue their academic development by progressing to the Pearson LCCI Level 4 Certificate in Financial Accounting (VRQ) or other professional accountancy qualifications.

• The Level 3 Certificate in Cost and Management Accounting (VRQ) (ASE20098) (Core Module) is for students who work in, or want to work in accounting environments where they will be required to use management accounting techniques which contribute to effective decision making and control. This qualification provides the student with the skills, knowledge and understanding of cost and management accounting which reflects the keys skills required in business for short and long-term decision making, inventory control, accounting for overheads, working capital management, standard costing and the preparation and control of budgets. This qualification is trusted and valued by employers worldwide and recognised by universities and professional bodies. This will enhance their employability prospects in the accounting sector and allow progression to the Pearson LCCI Level 4 Certificate in Management Accounting qualification.

• The Level 3 Certificate in Business Statistics (VRQ) (ASE20100)  is for students who work in, or who want to work in, business and research environments. Students will be aiming for a career in business and finance where they will be sourcing and analysing business related data. Students should have a level of English sufficient to evaluate and explain the appropriateness of methods and outcomes. This qualification will enable students to apply statistical techniques to business data in order to plan and control business operations, evaluate and manage risk and support the decision-making process. Students will gain an understanding of the basic concepts of statistical problem solving in business situations, develop knowledge, understanding and skills of statistical methods and concepts and in probability, including an awareness of the potential and limitations of data and methods. Students will develop a critical perspective on statistics, including recognition of collection errors, misleading forms of presentation, improper analysis and invalid inferences and conclusions. Students will be encouraged to actively engage in the process of enquiry, communicate clearly using standard statistical conventions and notations and develop as effective and independent students. The Pearson LCCI Level 3 Certificate in Business Statistics (VRQ) qualification and legacy qualification are established and valued by employers worldwide and recognised by professional bodies. This qualification will enhance students’ statistical knowledge and abilities, a requirement of employers, enabling them to handle, understand, analyse, and interpret business data and question statistical method and models.

• The Level 3 Award in Computerised Accounting Skills (QCF) [ASE20055]  develops candidates ability to manage a computerised accounting system in order to provide management information. Candidates will learn how to process non-routine accounting transactions and print and analyse reports such as the Profit and Loss and Balance Sheet.

The aims of the qualification is to develop candidates competence in using computerised accounting software to produce accurate, professional and well presented accounting information employing an appropriate range of accounting procedures.

It particularly aims to develop skills in: setting up initial business data in a computerised accounting system; processing and completing advanced business transactions; producing and analysing end period reports ; and producing and reviewing a range of routine and non-routine accounting reports for management purposes.

This qualification is suitable for people who work or intend to work in an advanced accounting role which requires the computerized processing and completion of advanced accounting transactions and the preparation of end period reports.

Accredited in the UK as the EDI Level 3 Award in Computerised Accounting Skills (QCF) – 501/1266/1, it has a credit value of 10. It is taught and assessed using compatible computerised accounting software (e.g. AutoCount).