Aveen Duffield                                                             Irvine                                Tel: 0774...
Additional Information2005 - 2008                             Caring for ill parents Provided care in response to all nee...
Higher National Unit specificationGeneral information for centresUnit title: Using Financial Accounting SoftwareUnit code:...
General information for centres (cont)Context for delivery: If this Unit is delivered as part of a Group Award, it is reco...
Higher National Unit specification: statement of standardsUnit title: Using Financial Accounting SoftwareUnit code: F7JP 3...
Higher National Unit specification: statement of standards (cont)Unit title: Using Financial Accounting SoftwareOutcome 2U...
Higher National Unit specification: statement of standards (cont)Unit title:       Using Financial Accounting SoftwareAsse...
Higher National Unit specification: statement of standards (cont)Unit title: Using Financial Accounting SoftwareOutcome 4U...
Higher National Unit specification: statement of standards (cont)Unit title: Using Financial Accounting SoftwareAssessment...
Higher National Unit specification: statement of standards (cont)Unit title: Using Financial Accounting SoftwareAssessment...
Administrative InformationUnit code:                                               F7JP 34Unit title:                     ...
Higher National Unit specification: support notesUnit title: Using Financial Accounting SoftwareThis part of the Unit spec...
Higher National Unit specification: support notes (cont)Unit title: Using Financial Accounting SoftwareCentres could provi...
Higher National Unit specification: support notes (cont)Unit title: Using Financial Accounting SoftwareGuidance on the del...
General information for candidatesUnit title: Using Financial Accounting SoftwareThis Unit is designed to enable you to pr...
Higher National Unit specificationGeneral information for centresUnit title: Preparing Final AccountsUnit code: F7JT 34Uni...
General information for centres (cont)Assessment: This Unit could be assessed by four separate assessments. However, it is...
Higher National Unit specification: statement of standardsUnit title: Preparing Final AccountsUnit code: F7JT 34The sectio...
Higher National Unit specification: statement of standards (cont)Unit title: Preparing Final AccountsOutcome 2Prepare fina...
Higher National Unit specification: statement of standards (cont)Unit title: Preparing Final AccountsOutcome 3Prepare a ca...
Higher National Unit specification: statement of standards (cont)Unit title: Preparing Final AccountsOutcome 4Analyse the ...
Administrative InformationUnit code:                                            F7JT 34Unit title:                        ...
Higher National Unit specification: support notesUnit title: Preparing Final AccountsThis part of the Unit specification i...
Higher National Unit specification: support notes (cont)Unit title: Preparing Final AccountsGuidance on the delivery and a...
General information for candidatesUnit title: Preparing Final AccountsThis Unit is designed to introduce you to the final ...
Higher National Unit specificationGeneral information for centresUnit title: Management Accounting Using Information Techn...
General information for centres (cont)Context for delivery: If this Unit is delivered as part of a Group Award, it is reco...
Higher National Unit specification: statement of standardsUnit title: Management Accounting Using Information TechnologyUn...
Higher National Unit specification: statement of standards (cont)Unit title: Management Accounting Using Information Techn...
Higher National Unit specification: statement of standards (cont)Unit title: Management Accounting Using Information Techn...
Higher National Unit specification: statement of standards (cont)Unit title: Management Accounting Using Information Techn...
Higher National Unit specification: statement of standards (cont)Unit title: Management Accounting Using Information Techn...
Administrative InformationUnit code:                                 F7JS 34Unit title:                                Man...
Higher National Unit specification: support notesUnit title: Management Accounting Using Information TechnologyThis part o...
Higher National Unit specification: support notes (cont)Unit title: Management Accounting Using Information TechnologyGuid...
Higher National Unit specification: support notes (cont)Unit title: Management Accounting Using Information TechnologyOpen...
General information for candidatesUnit title: Management Accounting Using Information TechnologyThis Unit will introduce y...
Higher National Unit specificationGeneral information for centresUnit title: Cost AccountingUnit code: F7JR 34Unit purpose...
General information for centres (cont)Assessment: This Unit could be assessed using five separate assessments.An exemplar ...
Higher National Unit specification: statement of standardsUnit title: Cost AccountingUnit code: F7JR 34The sections of the...
Higher National Unit specification: statement of standards (cont)Unit title: Cost AccountingOutcome 2Account for labour co...
Higher National Unit specification: statement of standards (cont)Unit title: Cost AccountingOutcome 3Apportion and allocat...
Higher National Unit specification: statement of standards (cont)Unit title: Cost AccountingOutcome 4Account for product c...
Higher National Unit specification: statement of standards (cont)Unit title: Cost AccountingOutcome 5Record transactions i...
Administrative InformationUnit code:                                      F7JR 34Unit title:                              ...
Higher National Unit specification: support notesUnit title: Cost AccountingThis part of the Unit specification is offered...
Higher National Unit specification: support notes (cont)Unit title: Cost AccountingOutcome 5 covers the recording of trans...
Higher National Unit specification: support notes (cont)Unit title: Cost AccountingDisabled candidates and/or those with a...
General information for candidatesUnit title: Cost AccountingThis Unit is designed to enable you to gain knowledge and dev...
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
CV and HN unit specifications
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CV and HN unit specifications

  1. 1. Aveen Duffield Irvine Tel: 07742 554 618 Email: aveen_duffield@hotmail.com Personal Profile A reliable and hardworking individual who offers exemplary organisation and time management skills alongside a keen eye for detail and meticulous approach to ensuring the accuracy of all work One who is quick and keen to learn new skills, adapting well to changing business needs and capable of working efficiently within pressurised and fast-paced environments An articulate and confident professional able to liaise with all levels of colleague and external partner, building positive working relationships which add value to any organisation Education & QualificationsJames Watt College HND: Accounts 2011 - PresentKey Modules:Financial Reporting Management Accounting Business Taxation Company LawJames Watt College HNC: Accounts (Grade A) 2012University of the West of Scotland Post Graduate Certificate: Multimedia & Web Authoring 2009University of the West of Scotland BA: Psychology & Sociology 2005James Watt College HND: Social Sciences 2002Kilmarnock College Highers 2001Kilmarnock College NC: Information Technology 1996St Michaels Academy Standards Grades 1995 Employment History2004 - 2005 South Ayrshire Council Adult Education Tutor Carried out a number of temporary contracts providing adult education computing skills training on behalf of this local authority Held responsibility for the design and delivery of classroom based lessons targeted at individuals ranging in level of ability Created lesson plans and tailored them according to student needs Delivered training in email, internet, MS Word and MS Excel applications Produced innovative and effective course literature and evaluated its on-going progress and success Maintained an up to date and in-depth knowledge of relevant subject matter1996 - 2002 “The Gate”, Kilmarnock Cook Worked as part of a team to produce high quality food from an extensive menu in a timely manner Maintained food hygiene and health & safety standards in all operations Performed all required preparation work at the start of the day as well as cooking duties during service Maintained stock levels and ordered supplies as and when required Developed solid working relationships with all colleagues, suppliers and regular customers
  2. 2. Additional Information2005 - 2008 Caring for ill parents Provided care in response to all needs caused by serious illness including preparing meals, cleaning and maintaining the home environment, and assisting with mobility needsLanguages: Basic FrenchDriving Licence: Full Clean UK Key Skills & CompetenciesCommunication & Presentation - possesses a high level of verbal and written communication with the ability to operateeffectively across all levels of colleague. Confident in close consultation and advisory scenariosAccuracy & Numeracy - focused, methodical and diligent in the handling of large volumes of confidential information and isconfident processing all forms of numerical work within a corporate environmentOrganisation - able to apply a thorough attention to detail ensuring successful completion of tasks on time and to budget.Able to see projects through from inception to completionTroubleshooting - able to anticipate any issues which may arise and respond swiftly to those that do showing a calm anddiplomatic approach. Ensures problems are dealt with in a prompt manner and with a satisfactory outcome for all partiesRelationship Management - quickly builds trust and credibility with all partners to facilitate the smooth running of businessoperationsIT Skills - proficient with Sage Line 50, Sage Payroll, and all MS Office applications including Word, Excel, Access & PowerPointReferences: available on request
  3. 3. Higher National Unit specificationGeneral information for centresUnit title: Using Financial Accounting SoftwareUnit code: F7JP 34Unit purpose: This Unit is designed to enable candidates to use a commercial accounting softwarepackage to process financial transactions and to prepare accounting reports for a small business.This Unit is primarily intended for candidates who expect to take up a career or further study inaccounting and/or financial administration. It is also relevant for candidates who wish to extend theirmanual book-keeping skills to those of a computerised accounting system and to those with appropriatework experience who wish to formalise their skills.On completion of the Unit the candidate should be able to:1 Use an accounting software package to set up and amend accounting records2 Use an accounting software package to process financial transactions3 Use an accounting software package to incorporate year-end adjustments and produce final accounts for a small business4 Use an accounting software package to produce a range of accounting reportsCredit points and level: 1 HN credit at SCQF level 7: (8 SCQF credit points at SCQF level 7*)*SCQF credit points are used to allocate credit to qualifications in the Scottish Credit and QualificationsFramework (SCQF). Each qualification in the Framework is allocated a number of SCQF credit points at an SCQFlevel. There are 12 SCQF levels, ranging from Access 1 to Doctorates.Recommended prior knowledge and skills: Access to this Unit is at the discretion of thecentre. However, candidates would normally be expected to have some prior knowledge of manual book-keeping. This could be demonstrated by achievement of the HN Unit F7JV 34: Recording FinancialInformation or similar qualification at SCQF level 6/7 prior to undertaking this Unit.Core Skills: Achievement of this Unit gives automatic certification of the following: Providing/Creating Information at SCQF level 5HN Unit (F7JP 34): Using Financial Accounting Software 1
  4. 4. General information for centres (cont)Context for delivery: If this Unit is delivered as part of a Group Award, it is recommended that itshould be taught and assessed within the subject area of the Group Award to which it contributes.Assessment: This Unit could be assessed by a practical assignment that covers all Outcomes.Alternatively, it could be assessed by four separate practical assignments.An exemplar instrument of assessment and marking guidelines have been produced to show the nationalstandard of achievement required at SQCF level 7.Since the Providing/Creating component of the Information Communication Technology Core Skill atSCQF level 5 is embedded in this Unit, it is strongly recommended that you follow the assessmentguidelines given. If you wish to use a different assessment model, you should seek prior verification ofthe assessment instrument(s) you intend to use to ensure that the Core Skill is still covered.HN Unit (F7JP 34): Using Financial Accounting Software 2
  5. 5. Higher National Unit specification: statement of standardsUnit title: Using Financial Accounting SoftwareUnit code: F7JP 34The sections of the Unit stating the Outcomes, Knowledge and/or Skills, and Evidence Requirements aremandatory.Outcome 1Use an accounting software package to set up and amend accounting recordsKnowledge and/or Skills Customer and supplier records Nominal ledger accounts Back up proceduresEvidence RequirementsCandidates will need to provide evidence to demonstrate their Knowledge and/or Skills by showing thatthey can: Set up two new customer accounts and two new supplier accounts. Set up two new nominal ledger accounts and incorporate these into the appropriate section of the final account structure. The two new nominal accounts should come from: new asset, new liability, new source of income or new expense account. Amend two existing customer, two existing supplier and two existing nominal ledger accounts. Back up data files securely.The evidence should be generated under open book supervised conditions.Evidence must be accurate within a tolerance of one error.Assessment GuidelinesIt is recommended that the assessment of this Outcome be completed within half an hour.This Outcome may be assessed separately or combined with the assessment of other Outcomes.Assessment Guidelines for a single assessment covering all Outcomes is given after Outcome 4.HN Unit (F7JP 34): Using Financial Accounting Software 3
  6. 6. Higher National Unit specification: statement of standards (cont)Unit title: Using Financial Accounting SoftwareOutcome 2Use an accounting software package to process financial transactionsKnowledge and/or Skills VAT categories Customer invoices and credit notes Supplier invoices and credit notes Purchase of fixed assets Cheques issued and received Discount allowed and received Cash receipts and cash payments Recurring entries Error correction Bad debt write-off Back up proceduresEvidence RequirementsCandidates will need to provide evidence to demonstrate their Knowledge and/or Skills by showing thatthey can: Process four sales invoices, four purchase invoices, two sales credit notes, two purchase credit notes. Transactions to include VAT standard rated, zero rated and exempt supplies. Process cheques issued to include two cheques to creditors, four cheques for payment of expenses and two cheques for purchase of fixed assets. The cheques to creditors should be for payment of amount due after returns and discounts have been deducted. Transactions to include standard rated, zero rated and exempt supplies and transactions outwith the scope of VAT. Process cheques received to include two cheques from debtors, two cheques for other income and one loan cheque. Cheques from debtors should be for receipt of amount due after returns and discount have been deducted. Process two transactions incorporating discount allowed and two transactions incorporating discount received. Process three cash receipts and three cash payments. Transactions to include standard rated, zero rated and exempt supplies and transactions outwith the scope of VAT. Set up and process two recurring entries for direct debits or standing orders. Write off a debtor‟s account as a bad debt. Record details of two new fixed assets in the fixed asset register — including one straight line depreciation and one reducing balance depreciation. Correct two errors using the error correction facilities of the software package. Back up data files securely.The evidence should be generated under open-book supervised conditions.Evidence must be accurate within a tolerance of four errors.HN Unit (F7JP 34): Using Financial Accounting Software 4
  7. 7. Higher National Unit specification: statement of standards (cont)Unit title: Using Financial Accounting SoftwareAssessment GuidelinesIt is recommended that the assessment of this Outcome be completed within one and a half hours.This Outcome may be assessed separately or combined with the assessment of other Outcomes.Assessment Guidelines for a single assessment covering all Outcomes is given after Outcome 4.Outcome 3Use an accounting software package to incorporate year-end adjustments and produce final accounts fora small businessKnowledge and/or Skills Accruals Prepayments Depreciation Stock journals Profit and loss account Balance sheet Back-up proceduresEvidence RequirementsCandidates will need to provide evidence to demonstrate their Knowledge and/or Skills by showing thatthey can: Set up and process year-end adjustments for two accrued expenses and two prepaid expenses Set up and process two charges for depreciation of fixed assets (one straight line, one reducing balance) Process the appropriate journal entries for opening and closing stock values Produce and print final accounts for a small business — profit and loss account and balance sheet Back up data files securelyThe evidence should be generated under open book supervised conditions.Evidence must be accurate within a tolerance of one error.Assessment GuidelinesIt is recommended that the assessment of this Outcome be completed within half an hour.This Outcome may be assessed separately or combined with the assessment of other Outcomes.Assessment Guidelines for a single assessment covering all Outcomes is given after Outcome 4.HN Unit (F7JP 34): Using Financial Accounting Software 5
  8. 8. Higher National Unit specification: statement of standards (cont)Unit title: Using Financial Accounting SoftwareOutcome 4Use an accounting software package to produce a range of accounting reportsKnowledge and/or Skills Trial Balance Audit Trail VAT Return Other reportsEvidence RequirementsCandidates will need to provide evidence to demonstrate their Knowledge and/or Skills by showing thatthey can: Produce and print a Trial Balance, an Audit Trail, a VAT Return, plus two additional reports from the following: — Aged Debtor Analysis — Debtor Reminder Letter — Customer Address List — Supplier Address List — Nominal Ledger Code List — Fixed Asset ListThe evidence should be generated under open book supervised conditions. The reports should be printedwithout error.Assessment GuidelinesIt is recommended that the assessment of this Outcome be completed within half an hour.This Outcome may be assessed separately or combined with the assessment of other Outcomes. Furtherguidance is given below.HN Unit (F7JP 34): Using Financial Accounting Software 6
  9. 9. Higher National Unit specification: statement of standards (cont)Unit title: Using Financial Accounting SoftwareAssessment Guidelines for the UnitThese guidelines relate to a single assessment that covers all OutcomesA holistic approach to assessment may be adopted with all Outcomes being assessed in a single openbook supervised assessment. Candidates could have access to software manuals, help menus and anyother course materials during the assessment.It is recommended that the combined assessment of the four Outcomes be completed within three hours.Candidates could be provided with a set of data files relating to a business. This data might consist of anumber of customer accounts and a number of supplier accounts as well as a number of nominal ledgeraccounts already set up. Opening balances from a previous month could be included in debtor andcreditor accounts. In addition the final account structure could already be set up within the nominalledger of the software package.Candidates could then be given financial transactions, covering the Knowledge and/or Skills items andEvidence Requirements, for one month to process. The transactions would require candidates to open upsome new customer accounts, some new supplier accounts and some new nominal ledger accounts.Where new nominal ledger accounts are opened up, these would have to be entered into the final accountstructure within the nominal ledger so that these account balances are included in the final accountsproduced at the end of the month. The candidates would also have to amend some existing customer andsupplier accounts — for example change of address, phone number, contact name, credit limit, etc. Somenominal ledger accounts would also have to be amended — for example, change of account name.Later in the assessment the candidate would be required to print a range of reports. To test thecandidate‟s understanding they could be asked, for example, to produce a report showing customernames and addresses but the report should only include those new customers that the candidate had setup or those existing customers whose details the candidate had amended (as opposed to including everycustomer — this also has the advantage of cutting down on the amount of paper used).The financial transactions could be batched — eg invoices sent out last month; invoices received lastmonth; credit notes sent out; credit notes received; cheques issued; cheques received; cash receiptsissued; cash receipts received and other transactions. Invoices and credit notes should cover the range ofVAT categories outlined in Knowledge and/or Skills and Evidence Requirements. The amount ofcheques issued to creditors and received from debtors should be the appropriate amount after theapplication of a credit note and of a cash discount so that the candidate has to process discounts allowedand received.Two of the cheques issued could be for the purchase of new fixed assets. Candidates should differentiatebetween the gross and net amount of the asset when entering it in the fixed asset register. Thereafter, oneasset could be depreciated by the straight line method and one by the reducing balance method.Candidates could also set up, for example, recurring entries for the payment of direct debits and standingorders. One of the expenses being paid by direct debit could be for the new expense account that was setup in the nominal ledger — this ensures that the candidate has to set up the appropriate expense accountand then set up the recurring entry against that account. Candidates could also write off a debtor accountand could process the journal entry to record the closing stock valuation at the month end.HN Unit (F7JP 34): Using Financial Accounting Software 7
  10. 10. Higher National Unit specification: statement of standards (cont)Unit title: Using Financial Accounting SoftwareAssessment Guidelines for the Unit (where a single assessment covers all Outcomes)Candidates could be informed at the end of the assessment instrument that two of the transactionsentered earlier in the assessment have errors and the candidate could be instructed to correct the errorsusing the facilities available in the software package.Candidates could be given a valuation for the closing stock at the end of the month and could input thenecessary journal entries to include this in the month-end accounts. Candidates could also adjustexpenses for prepayments and accruals and they could post the necessary entries to depreciate fixedassets.Where a candidate produces evidence where all the month‟s transactions have been processed correctlybut the month-end procedures have been done incorrectly then the candidate would not be expected to re-sit the entire assessment. The candidate would only be required to re-sit Outcome 3. In this case, thecandidate could be given a set of data that included all the month‟s transactions and the candidate wouldonly have to carry out the month-end procedures and produce the final accounts.HN Unit (F7JP 34): Using Financial Accounting Software 8
  11. 11. Administrative InformationUnit code: F7JP 34Unit title: Using Financial Accounting SoftwareSuperclass category: CDOriginal date of publication: August 2010Version: 01History of changes:Version Description of change DateSource: SQA© Scottish Qualifications Authority 2010This publication may be reproduced in whole or in part for educational purposes provided that no profitis derived from reproduction and that, if reproduced in part, the source is acknowledged.SQA acknowledges the valuable contribution that Scotland‟s colleges have made to the development ofHigher National qualifications.Additional copies of this Unit specification can be purchased from the Scottish Qualifications Authority.Please contact the Customer Contact Centre for further details, telephone 0845 279 1000.HN Unit (F7JP 34): Using Financial Accounting Software 9
  12. 12. Higher National Unit specification: support notesUnit title: Using Financial Accounting SoftwareThis part of the Unit specification is offered as guidance. The support notes are not mandatory.While the exact time allocated to this Unit is at the discretion of the centre, the notional design length is40 hours.Guidance on the content and context for this UnitThis Unit is primarily intended for candidates who expect to take up a career or further study inaccounting and/or financial administration. It is also relevant to those with appropriate work experienceand who wish to formalise their book-keeping skills.For those candidates who successfully achieve this Unit as part of the HNC/HND Accounting GroupAward, there may be opportunities to gain exemptions from a number of professional accounting bodies.Centres should contact the relevant professional bodies to ascertain their current exemption policies.This Unit is designed to enable candidates to use a commercial accounting software package to processfinancial transactions and to prepare accounting reports for a small business.Outcome 1Candidates should be able to maintain the sales ledger, purchase ledger and nominal ledger of a businessusing an accounting software package. This would include amending details of existing accounts andsetting up new accounts in each of the ledgers. Candidates should be familiar with the Chart of Accounts(the framework for the Final Accounts) within the package. Candidates should also be aware of theallocation of code number to accounts and the significance of the different ranges of account numbers —eg account numbers allocated to fixed assets, account numbers allocated to current assets, etc.Candidates should understand the need to amend the Chart of Accounts when setting up new nominalledger accounts so that the new accounts would be incorporated into the Final Accounts framework inthe package. Candidates should be familiar with the range of reports associated with each of the ledgersand should be encouraged to investigate all available reports and the use to which they could be put.Outcome 2Candidates should be able to process all the standard financial transactions that occur regularly in abusiness. It would be normal to batch transactions for processing. Candidates should be familiar with theuse of batches and batch totals to help ensure accuracy in posting transactions. Candidates should beencouraged to produce day books and a Trial Balance after each batch that is processed. Candidatesshould be able to explain which balances in the Trial Balances will change as a result of the batch ofdocuments processed and to check these changes against their batch totals. Candidates should beencouraged to back up data files after each batch that is processed. Candidates should print off the AuditTrail or refer to it on-screen and be able to recognise the way in which the package details eachtransaction that has been processed. Again, candidates should be encouraged to investigate all availablereports and the use to which they could be put.HN Unit (F7JP 34): Using Financial Accounting Software 10
  13. 13. Higher National Unit specification: support notes (cont)Unit title: Using Financial Accounting SoftwareCentres could provide candidates with sets of data which can be used to practise each of the batches thathave to be processed — eg sales invoices, purchases invoices, sales credits, etc. For example, centrescould provide candidates with data relating to receipts from debtors. This could include both cashreceipts and cheques received. The batch could include part payments of amounts due; full payment ofaccounts; full payment where there has also been a credit note issued to the customer and full paymentwhere there is both a credit note issued to the customer and the customer is to be allowed a discount forprompt payment. On completion of the batch the candidate should produce the relevant day books andcheck the totals in the day books against their batch totals. The candidate should also produce a TrialBalance and explain which balances have changed as a result of processing this batch of cheques.Similarly, centres could provide candidates with sets of data relating to debtors for, say, six months.Some debts would be current, some one month overdue, some two months overdue, etc. Candidatescould be asked to identify those debtors who should be considered as possible bad debts; those whoshould receive a “mild” reminder letter; those who should be sent a “stronger” reminder letter, etc.Candidates should also be familiar with the way in which an entire account can be written off as a baddebt or, alternatively, an individual invoice can be written off.When processing payments for expenses and for fixed asset purchases, candidates should use thepackage to differentiate between data which contains gross amounts and data which contain net amountsand the facilities within the package for converting gross amounts to net amounts when appropriate.Candidates should be aware that the net amount should be entered in the Fixed Asset Register and notthe gross amount.Candidates should be familiar with the VAT codes used within the package and their significance incompilation of the VAT return.After every batch that is processed, candidates should back-up data files securely.Outcome 3Candidates should be familiar with the distinction between setting up accruals and prepayments andactually processing them at the month-end. Similarly, candidates should be familiar with the distinctionbetween setting an asset up in the Fixed Asset Register and then processing the depreciation at the end ofthe month. When setting up assets in the Fixed Asset Register candidates would again be expected tounderstand the coding system adopted by the software package — eg the code for depreciation of anasset as shown in the Profit and Loss Account and the code for the depreciation as shown on the BalanceSheet. Candidates should be able to prepare journal entries to charge the opening stock to the cost ofsales in the Trading Account and to reduce the cost of sales by the value of the closing stock at the end ofthe month. Candidates should back-up data files securely.Outcome 4Throughout the Unit candidates should be encouraged to investigate the range of reports available andthe uses to which these reports can be put within the business.HN Unit (F7JP 34): Using Financial Accounting Software 11
  14. 14. Higher National Unit specification: support notes (cont)Unit title: Using Financial Accounting SoftwareGuidance on the delivery and assessment of this UnitThis Unit is likely to form part of a Group Award designed to provide candidates with the knowledgeand skills for further study or employment within an accounting environment.Where this Unit is being delivered as part of the HNC/HND Accounting Group Award it isrecommended that the Unit be delivered towards the beginning of the Group Award following the HNUnit F7JV 34: Recording Financial Information. This means that candidates will be able to understandwhat the accounting package does when processing the batches of data and to appreciate some of theadvantages of using a software package rather than manual processing of financial transactions.It is recommended that the assessment is carried out in one single assessment which covers all fourOutcomes. However, the Outcomes could be assessed separately or alternatively, Outcomes 1 and 2could be combined into a single assessment, and Outcomes 3 and 4 could be combined into anothersingle assessment.All evidence should be produced under open-book supervised conditions.During the delivery of this Unit it is recommended that candidates be made aware of the existence ofboth UK Generally Accepted Accounting Principles (UK GAAP) and International AccountingStandards (IAS) and the main differences in presentation of financial statements and terminology bebrought to their attention.Opportunities for developing Core SkillsThe delivery and assessment of this Unit may contribute towards the Core Skill Information andCommunication Technology at SCQF level 5. The Core Skill component Providing/Creating Informationat SCQF level 5 is embedded in this Unit. Throughout all four Outcomes of the Unit, candidates apply awide range of IT skills related to performing IT operations, processing information, accessinginformation and keeping information safe.Open learningThis Unit could be delivered by distance learning. However, it would require planning by the centre toensure the authenticity of candidate evidence. Arrangements would have to be made to ensure thatevidence is generated under the assessment conditions specified for each Outcome.To keep the administrative burden to a minimum, it is recommended that the assessments of Outcomesare combined for distance learning candidates.Further advice can be found on SQA‟s website www.sqa.org.uk.Disabled candidates and/or those with additional support needsThe additional support needs of individual candidates should be taken into account when planninglearning experiences, selecting assessment instruments, or considering whether any reasonableadjustments may be required. Further advice can be found on our websitewww.sqa.org.uk/assessmentarrangements.HN Unit (F7JP 34): Using Financial Accounting Software 12
  15. 15. General information for candidatesUnit title: Using Financial Accounting SoftwareThis Unit is designed to enable you to process financial transactions using a commercial accountingsoftware package. You may already be familiar with the double entry book-keeping system and be ableto post business transactions manually. This Unit enables you to process these same transactions butusing a software package rather than posting manually.The Unit has four main areas, each the subject of a separate Outcome.In Outcome 1 you will look at the three main ledgers in a book-keeping system — the Sales Ledger(Customer records); the Purchase Ledger (Supplier records) and the Nominal Ledger (all other assets,liabilities, expenses and income). You will learn how to set up new records as well as how to amendexisting records. You will learn the coding system used within the accounting software package and youwill learn how to amend the Final Accounts Structure when you introduce new accounts into the nominalledger. You will become familiar with a range of reports relating to each of these ledgers. You will learnhow to back up data files in order to securely store the data.In Outcome 2 you will learn how to process the major financial transactions that occur on a daily basis inmost small to medium sized businesses. These will include the processing of sales and purchaseinvoices; sales and purchase credit notes; cheques issued and received and cash receipts issued andreceived. You will learn how data is batched and batch totals are used for checking purposes. You willalso learn how enter fixed assets in a Fixed Asset Register; how to set up and process recurring entriesthrough the bank account — for standing orders and direct debits and you will learn how to write off adebt as a bad debt. You will also learn how to analyse debts by age and how to „chase‟ debts by sendingout appropriate letters to overdue debtors. You will become familiar with a range of reports relating toeach of batches that you have processed — including day books; the trial balance and the audit trail. Youwill learn how to back up data files in order to securely store the data.In Outcome 3 you will learn how to set up and process the month-end adjustments and then produce thefinal accounts for the business — the Profit and Loss Account and the Balance Sheet. By processingmonth-end adjustments for accruals, prepayments and depreciation and by preparing stock journals, youwill then be able to produce final accounts that give a true and fair view of the profit earned by or theloss incurred by the business. You will normally do this for one month but you will also produce figuresfor the year to date.In Outcome 4 you will learn how to produce a variety of reports for a business including CustomerReports and Supplier Reports as well as other reports such as VAT Return; Trial Balance; Audit Trail;Day Books and Letters.This Unit may be assessed by one practical assignment which covers all the Outcomes or each Outcomemay be assessed separately. The assessments will be carried out under open book supervised conditions.This means that you will be able to bring with you to the assessment any software manual or other notesor teaching materials. You may also access help menus during the assessment.You will have opportunities to develop the Core Skill of Information Technology in this Unit.Achievement of this Unit gives automatic certification of Providing/Creating Information at SCQF level5.HN Unit (F7JP 34): Using Financial Accounting Software 13
  16. 16. Higher National Unit specificationGeneral information for centresUnit title: Preparing Final AccountsUnit code: F7JT 34Unit purpose: This Unit is designed to enable candidates to prepare final accounts for a range ofbusiness organisations — sole traders, partnerships and companies. These organisations can be eithertraders or manufacturing concerns. Candidates will also prepare cash flow statements and analyseaccounting statements using appropriate accounting ratios for a limited company.This Unit is primarily intended for candidates who expect to take up a career or further study inaccounting and/or financial administration. It is also relevant to those with appropriate workexperience who wish to formalise their financial accounting skills.On completion of the Unit candidates should be able to:1 Prepare final accounts for business organisations2 Prepare final accounts, for a sole trader, from incomplete records3 Prepare a cash flow statement for a limited company4 Analyse the final accounts of a limited company using accounting ratiosCredit points and level: 2 HN Credits at SCQF level 7: (16 SCQF credit points at SCQFlevel 7*)*SCQF credit points are used to allocate credit to qualifications in the Scottish Credit and QualificationsFramework (SCQF). Each qualification in the Framework is allocated a number of SCQF credit points at anSCQF level. There are 12 SCQF levels, ranging from Access 1 to Doctorates..Recommended prior knowledge and skills: Access to this Unit is at the discretion ofthe centre. However, candidates would normally be expected to have some prior knowledge of book-keeping. This could be demonstrated by achievement of the HN Unit F7JV 34: Recording FinancialInformation or similar qualification at SCQF level 6/7 prior to undertaking this Unit.Core Skills: Achievement of this Unit gives automatic certification of the following: Using Number at SCQF level 5Context for delivery: If this Unit is delivered as part of a Group Award, it is recommendedthat it should be taught and assessed within the subject area of the Group Award to which itcontributes.HN Unit (F7JT 34): Preparing Final Accounts 1
  17. 17. General information for centres (cont)Assessment: This Unit could be assessed by four separate assessments. However, it isrecommended that Outcomes 3 and 4 be assessed together.An exemplar instrument of assessment and marking guidelines have been produced to show thenational standard of achievement required at SCQF level 7.Since the Using Number component of the Numeracy Core Skill at SCQF level 5 is embedded in thisUnit, it is strongly recommended that you follow the assessment guidelines given. If you wish to usea different assessment model, you should seek prior moderation of the assessment instrument(s) youintend to use to ensure that the Core Skill is still covered.HN Unit (F7JT 34): Preparing Final Accounts 2
  18. 18. Higher National Unit specification: statement of standardsUnit title: Preparing Final AccountsUnit code: F7JT 34The sections of the Unit stating the Outcomes, Knowledge and/or Skills, and Evidence Requirementsare mandatory.Outcome 1Prepare final accounts for business organisationsKnowledge and/or Skills Business organisations Profit and loss accounts Balance sheets Adjustments to the final accountsEvidence RequirementsCandidates will need to provide evidence to demonstrate their Knowledge and/or Skills by showingthat they can: Prepare a profit and loss account and balance sheet, from a year end trial balance, for either a partnership or limited company operating as a trader or manufacturer. Incorporate a minimum of eight different year end adjustments (appropriate to the type of business) into the accounts, from the following: straight line depreciation, reducing balance depreciation, bad debts, allowance for bad debts, accruals, prepayments, closing stock, dividends, debenture interest, corporation tax, transfer to reserve, drawings, interest on capital, interest on drawings, partnership salaries.The evidence should be generated under supervised conditions with access restricted to a pro formalayout for the relevant set of final accounts only.The figures must be accurate within a tolerance of three arithmetic or computational errors with amaximum of three errors of principle.Assessment GuidelinesIt is recommended that the assessment of this Outcome be completed within one and a half hours.The assessment should be presented as a trial balance, with a minimum of eight year end adjustments,for either a partnership or limited company (for internal use) operating as either a trader ormanufacturer. From this information candidates should prepare a profit and loss account and balancesheet.It is strongly recommended that a different type of business organisation be used each time theOutcome is assessed.HN Unit (F7JT 34): Preparing Final Accounts 3
  19. 19. Higher National Unit specification: statement of standards (cont)Unit title: Preparing Final AccountsOutcome 2Prepare final accounts, for a sole trader, from incomplete recordsKnowledge and/or skills Opening balance sheet/statement of affairs Receipts and payments Revenues and expenses Profit and loss account and balance sheetEvidence requirementsCandidates will need to provide evidence to demonstrate their Knowledge and/or Skills by showingthat they can: Prepare an opening balance sheet/statement of affairs for a sole trader Prepare working notes which demonstrate the conversion of receipts and payments into revenue and expenses for a minimum of six items Deduce a minimum of one missing figure Prepare a profit and loss account and balance sheet for a sole traderThe evidence should be generated under supervised conditions with access restricted to a pro formalayout for final accounts only.The figures must be accurate within a tolerance of two arithmetic or computational errors with amaximum of two errors of principle.Assessment guidelinesIt is recommended that the assessment of this Outcome be completed within one hour. Theassessment could be presented as a case study, detailing incomplete accounting information, as wellas a range of notes. From this information candidates should prepare a profit and loss account andbalance sheet for a sole trader.HN Unit (F7JT 34): Preparing Final Accounts 4
  20. 20. Higher National Unit specification: statement of standards (cont)Unit title: Preparing Final AccountsOutcome 3Prepare a cash flow statement for a limited companyKnowledge and/or skills Cash flow statements Depreciation and disposal of fixed assetsEvidence requirementsCandidates will need to provide evidence to demonstrate their Knowledge and/or Skills by showingthat they can: Prepare a cash flow statement, from the final accounts for two consecutive years, of a limited company Show the correct treatment of depreciation and fixed asset disposalThe evidence should be generated under open book supervised conditions.The figures must be accurate within a tolerance of two arithmetic or computational errors with amaximum of one error of principle.Assessment guidelinesIt is recommended that the assessment of this Outcome be combined with Outcome 4 and becompleted within three hours. Alternatively, if Outcome 3 is assessed separately, it is recommendedthat the assessment be completed within one hour. The assessment could be presented as a case studywhere the final accounts of two consecutive years of a limited company are presented along with twonotes to the accounts (disposals of assets). From this information candidates should produce a cashflow statement.HN Unit (F7JT 34): Preparing Final Accounts 5
  21. 21. Higher National Unit specification: statement of standards (cont)Unit title: Preparing Final AccountsOutcome 4Analyse the final accounts of a limited company using accounting ratios.Knowledge and/or skills Accounting ratios Analysis of final accountsEvidence requirementsCandidates will need to provide evidence to demonstrate their Knowledge and/or Skills by showingthat they can: Prepare working notes which demonstrate the calculation of the following accounting ratios: gross margin; expenses to turnover; net margin; return on capital employed; earnings per share; dividend cover; current ratio; acid test ratio; stock turnover; debtor turnover; creditor turnover; fixed asset turnover and gearing ratio, for a limited company. Analyse the results and explain the significance of each ratio calculated on the company’s financial position.The evidence should be generated under open book supervised conditions.The ratio calculations must be accurate within a tolerance of two arithmetic or computational errorswith a maximum of one error of principle. The candidate should analyse the ratios and comment onthe change in the ratio giving at least one reason for the change.Assessment guidelinesIt is recommended that the assessment of this Outcome be combined with Outcome 3 and becompleted within three hours. Alternatively, if Outcome 4 is assessed separately, it is recommendedthat the assessment be completed within two hours. The assessment could take the form of a casestudy where the final accounts, of a limited company, for two consecutive years, are presented. Fromthis information the candidates could calculate the accounting ratios and, from the results, analyse thefinancial position of the organisation.HN Unit (F7JT 34): Preparing Final Accounts 6
  22. 22. Administrative InformationUnit code: F7JT 34Unit title: Preparing Final AccountsSuperclass category: AKOriginal date of publication: August 2010Version: 01History of changes:Version Description of change DateSource: SQA© Scottish Qualifications Authority 2010This publication may be reproduced in whole or in part for educational purposes provided that noprofit is derived from reproduction and that, if reproduced in part, the source is acknowledged.SQA acknowledges the valuable contribution that Scotland’s colleges have made to the developmentof Higher National qualifications.Additional copies of this Unit specification can be purchased from the Scottish QualificationsAuthority. Please contact the Customer Contact Centre for further details, telephone 0845 279 1000.HN Unit (F7JT 34): Preparing Final Accounts 7
  23. 23. Higher National Unit specification: support notesUnit title: Preparing Final AccountsThis part of the Unit specification is offered as guidance. The support notes are not mandatory.While the exact time allocated to this Unit is at the discretion of the centre, the notional design lengthis 80 hours.Guidance on the content and context for this UnitThis Unit is primarily intended for candidates who expect to take up a career or further study inaccounting and/or financial administration. It is designed to enable candidates to prepare finalaccounts for a range of business organisations as well as analyse the financial position of a limitedcompany.For those candidates who successfully achieve this Unit as part of the HNC/HND Accounting GroupAward, there may to opportunities to gain exemptions from a number of professional accountingbodies. Centres should contact the relevant professional bodies to ascertain their current exemptionspolicies.Outcome 1 introduces candidates to the preparation of final accounts for a range of businessorganisations. Business organisations: sole traders, partnerships, private limited companies, public limited companies Final accounts: profit and loss accounts, balance sheets Adjustments: accruals, prepayments, depreciation, (straight line, reducing balance), bad debts, allowance for bad/doubtful debts, closing stock, dividends, debenture interest, corporation tax, transfer to reserve, drawings, interest on capital, interest on drawings, partnership salaries Presentation and terminology used within final accounts in line with current practice/legislationOutcome 2 introduces candidates to the preparation of incomplete records for a sole trader. Opening balance sheet/statement of affairs Receipts and payments; revenues and expenses Profit and loss account and balance sheet for a sole traderOutcome 3 covers the preparation of cash flow statements for limited companies. Cash flow statement Disposal of fixed assets; depreciation of fixed assets Presentation and terminology used should be in line with current practice/legislationOutcome 4 looks at the analysis of the final accounts of a limited company including the calculationof accounting ratios. Accounting ratios: profitability, liquidity, efficiency Analysis of ratios and significance on company’s financial positionHN Unit (F7JT 34): Preparing Final Accounts 8
  24. 24. Higher National Unit specification: support notes (cont)Unit title: Preparing Final AccountsGuidance on the delivery and assessment of this UnitThis Unit is likely to form part of a Group Award designed to provide candidates with knowledge andskills for further study or employment within an accounting environment.Where this Unit is being delivered as part of the HNC/D Accounting Group Award, it isrecommended that the Unit be delivered towards the beginning of the Group Award either in tandemwith, or following, the HN Unit F7JV 34: Recording Financial Information.The assessment for Outcomes 1, 3 and 4 could be based around one case study, not necessarily givenas a single assessment event. The assessment could take the format of a trial balance of a limitedcompany, where the candidate would produce a profit and loss account and balance sheet, a cash flowstatement and then undertake ratio analysis.The assessment of Outcomes 1 and 2 could be undertaken separately although it is recommended thatOutcomes 3 and 4 be assessed together.Outcome 1 should be assessed under open book supervised conditions with access to a pro formalayout for the relevant set of accounts only. It is recommended a different type of businessorganisation should be used each time the Outcome is assessed. Outcome 2 should be assessed underopen book supervised conditions with a pro forma issued for the profit and loss account only.Outcomes 3 and 4 should be assessed under open book supervised conditions.During the delivery of this Unit it is recommended that candidates be made aware of the existence ofboth UK Generally Accepted Accounting Principles (UK GAAP) and International AccountingStandards (IAS) and the main differences in presentation of financial statements and terminology bebrought to their attention.Opportunities for developing Core SkillsThe achievement of this Unit gives automatic certification of the Using Number component of theCore Skill Numeracy at SCQF level 5. Throughout the Unit the candidates apply a wide range ofnumerical skills to solve work related problems.Open learningThis Unit could be delivered by distance learning. However, it would require planning by the centreto ensure the authenticity of candidate evidence. Arrangements would have to be made to ensure thatevidence is generated under the assessment conditions specified for each Outcome.Further advice can be found on SQA’s website www.sqa.org.uk.Disabled candidates and/or those with additional support needsThe additional support needs of individual candidates should be taken into account when planninglearning experiences, selecting assessment instruments, or considering whether any reasonableadjustments may be required. Further advice can be found on our websitewww.sqa.org.uk/assessmentarrangements.HN Unit (F7JT 34): Preparing Final Accounts 9
  25. 25. General information for candidatesUnit title: Preparing Final AccountsThis Unit is designed to introduce you to the final accounts of sole traders (from incomplete records),partnerships and limited companies that operate as either traders or manufacturers. The final accountscomprise of profit and loss accounts and balance sheets and you will learn how to prepare and presentthese statements in accordance with current accounting standards.As cash flow is important to businesses you will learn how to produce cash flow statements forlimited companies.Business organisations need to analyse their financial position in terms of profitability, liquidity andefficiency and you will learn how to calculate and analyse accounting ratios to provide thisinformation.This Unit may be assessed by four tasks covering the final accounts of a range of businessorganisations requiring you to: Prepare final accounts for business organisations Prepare final accounts, for a sole trader, from incomplete records Prepare a cash flow statement for a limited company Analyse the final accounts of a limited company using accounting ratiosThe assessments will be carried out under supervised conditions.You will have opportunities to develop the Using Number component within the Core Skill ofNumeracy in this Unit. Achievement of this Unit gives automatic certification of Using Number atSCQF level 5.HN Unit (F7JT 34): Preparing Final Accounts 10
  26. 26. Higher National Unit specificationGeneral information for centresUnit title: Management Accounting Using Information TechnologyUnit code: F7JS 34Unit purpose: This Unit is designed to enable candidates to develop their management informationdecision making and information technology skills. The Unit will enable candidates to provide timeous,meaningful and well-presented financial information. It uses information technology as an assessmenttool to enable candidates to prepare management information for control and decision making in anorganisation.This Unit is primarily intended for candidates who expect to take up a career or further study in cost ormanagement accounting but would also be appropriate to those who wish to gain experience in budgetpreparation. It is also relevant to those with appropriate work experience who wish to formalise theirmanagement accounting qualifications.On completion of the Unit the candidate should be able to:1 Prepare budget statements2 Prepare a basic budgetary control report and a variance analysis3 Use break-even analysis for decision making4 Prepare profit statements using marginal and absorption costing methodsCredit points and level: 2 HN credits at SCQF level 7: (16 SCQF credit points at SCQF level 7*)*SCQF credit points are used to allocate credit to qualifications in the Scottish Credit and QualificationsFramework (SCQF). Each qualification in the Framework is allocated a number of SCQF credit points at an SCQFlevel. There are 12 SCQF levels, ranging from Access 1 to Doctorates.Recommended prior knowledge and skills: Access to this Unit is at the discretion of thecentre. However, candidates would normally be expected to be competent in numeracy andcommunication at SCQF level 5 or have similar qualifications or experience. Candidates should havespreadsheet skills prior to commencement of this Unit.Core Skills: The achievement of this Unit gives automatic certification of the following: Using Number at SCQF level 6 Using Graphical Information at SCQF level 5There are also opportunities to develop the Writing element of the Written Communication componentof the Core Skill Communication at SCQF level 5 and the Core Skill Problem Solving at SCQF level 5 inthis Unit, and these are highlighted in the Support Notes of this Unit specification.HN Unit (F7JS 34): Management Accounting Using Information Technology 1
  27. 27. General information for centres (cont)Context for delivery: If this Unit is delivered as part of a Group Award, it is recommended that itshould be taught and assessed within the subject area of the Group Award to which it contributes.Assessment: This Unit could be assessed by four separate assessments.An exemplar instrument of assessment and marking guidelines have been produced to show the nationalstandard of achievement required at SCQF level 7.Since the Numeracy Core Skill components of Using Number at SCQF level 6 and Using GraphicalInformation at SCQF level 5 are embedded in this Unit, it is strongly recommended that you follow theassessment guidelines given. If you wish to use a different assessment model, you should seek priorverification of the assessment instrument(s) you intend to use to ensure that the Core Skill is stillcovered.HN Unit (F7JS 34): Management Accounting Using Information Technology 2
  28. 28. Higher National Unit specification: statement of standardsUnit title: Management Accounting Using Information TechnologyUnit code: F7JS 34The sections of the Unit stating the Outcomes, Knowledge and/or Skills, and Evidence Requirements aremandatory.Outcome 1Prepare budget statementsKnowledge and/or Skills Functional budgets Master budget Financial modelling using spreadsheetsEvidence RequirementsCandidates will need to provide evidence to demonstrate their Knowledge and/or Skills by showing thatthey can: Prepare individual functional budgets and a master budget using a spreadsheet package. Functional budgets to include: — Sales — Production — Material purchases and usage — Labour — Fixed and variable overheads — Cash — The budgets for a six month period should be prepared using a recognised spreadsheet package containing linked worksheets. The master budget should be prepared in a format suitable for presentation to management. — The evidence should be presented as printouts of all prepared budgets with evidence that correct formulae have been used. Use financial modelling to prepare a revised master budget incorporating a minimum of two changes in data.The functional budget templates should be generated under supervised conditions. Candidates shouldnote that no other materials should be accessed during the assessment event other than the linkedfunctional budget templates.The master budget should be generated under supervised conditions with access restricted to thefunctional budgets templates only. Candidates should not have access to a pre-prepared Master BudgetTemplate.Figures must be accurate within a tolerance of four errors.HN Unit (F7JS 34): Management Accounting Using Information Technology 3
  29. 29. Higher National Unit specification: statement of standards (cont)Unit title: Management Accounting Using Information TechnologyAssessment GuidelinesIt is recommended that the assessment of this Outcome be completed within one and half hours.Prior to preparation of the master budget the candidates will prepare templates for the functional budgetswith links and formulae. These templates should not include the master budget (ie Profit and LossAccount and Balance Sheet). Candidates will be able to access and complete these pre-preparedfunctional budget templates during the assessment event.Candidates will be required to enter assessment data and to prepare the master budget during theassessment, including relevant links and formulae to the functional budgets. Candidates should note thatno other materials should be accessed during the assessment event other than the linked functionalbudget templates.HN Unit (F7JS 34): Management Accounting Using Information Technology 4
  30. 30. Higher National Unit specification: statement of standards (cont)Unit title: Management Accounting Using Information TechnologyOutcome 2Prepare a basic budgetary control report and a variance analysisKnowledge and/or Skills Cost behaviour Flexible budgeting Standard costing Cost variances Budgetary control reportEvidence RequirementsCandidates will need to provide evidence to demonstrate their Knowledge and/or Skills by showing thatthey can: Prepare a budgetary control report comparing flexed budget with actual figures. The variances to be calculated include: — Material: price and usage — Labour: rate and efficiency — Variable production overheads: expenditure and efficiency — Fixed production overheads: expenditure and volume Analyse the variances and prepare a report outlining a minimum of one reason for each sub-variance calculated.The budgetary control report and calculation of sub-variances should be prepared using a recognisedspreadsheet package and candidates should demonstrate IT skills by linking worksheets/workbookswherever possible.The evidence should be printouts of all prepared budgets with evidence that correct formulae have beenused.The evidence should be generated under supervised conditions with access to blank templates only. Priorto the assessment event candidates will be given a template displaying the layout of the budgetary controlreport. Centres should note that no other materials should be accessed during the assessment event otherthan the template.Figures must be accurate within a tolerance of three errors.Assessment GuidelinesIt is recommended that the assessment of this Outcome be completed within one and half hours.Prior to the assessment event candidates should have been given a blank template, suitable forpresentation to management, with no links or formulae. The template for the budgetary control reportand cost variances and analysis of sub-variances should not include any formulae within a cell. Costvariances can include the formulae for the sub-variance calculations. Candidates will be able to accessthe blank spreadsheet template provided and will be required to complete the budgetary report andcalculate the variances and sub-variances during the assessment. They should also provide possiblereasons for the variances.HN Unit (F7JS 34): Management Accounting Using Information Technology 5
  31. 31. Higher National Unit specification: statement of standards (cont)Unit title: Management Accounting Using Information TechnologyOutcome 3Use break-even analysis for decision makingKnowledge and/or Skills Break-even analysis Break-even charts Effect on Profit and Loss Decision making based on break-even analysis Use of spreadsheets to demonstrate the graphical and mathematical approach of break-even and the effects on profitsEvidence RequirementsCandidates will need to provide evidence to demonstrate their Knowledge and/or Skills by showing thatthey can, for three difference scenarios: Calculate break-even point in revenue and output Calculate margin of safety in revenue and output Calculate Profit or Loss at any given output Calculate effects on Profit or Loss of changes in a minimum of two key variables Prepare a break-even chart showing break-even and margin of safety for one of the scenarios Prepare a recommendation for management based on Profit/Loss calculated for each of the three different scenarios.The budgets for a six month period should be prepared using a recognised spreadsheet packagecontaining linked worksheets. Prior to the assessment event candidates will prepare a template displayingthe columnar headings for an operating statement including cells showing the key input data required tocalculate break-even point in a given situation.The evidence should be generated under open book supervised conditions.Figures must be accurate within a tolerance of two errors.Assessment GuidelinesIt is recommended that the assessment of this Outcome be completed within one and half hours.Prior to the assessment event candidates should prepare a template displaying the columnar headings foran operating statement including cells showing the key input data required to calculate break-even pointin a given situation. From this information candidates will calculate break-even points and margin ofsafety for each of the three different scenarios using a mathematical approach. For one scenariocandidates should demonstrate the changes graphically. Candidates will also calculate the impact onprofits of changes in selling price and costs. Candidates will be required to recommend a suitable courseof action. Candidates should note that no other materials should be accessed during the assessment eventother than the template.HN Unit (F7JS 34): Management Accounting Using Information Technology 6
  32. 32. Higher National Unit specification: statement of standards (cont)Unit title: Management Accounting Using Information TechnologyOutcome 4Prepare profit statements using marginal and absorption costing methodsKnowledge and/or Skills Profit statements Marginal and absorption costing Use of spreadsheets to prepare profit statementsEvidence RequirementsCandidates will need to provide evidence to demonstrate their Knowledge and/or Skills by showing thatthey can: Prepare profit statements using both marginal and absorption methods, to accurately and clearly demonstrate different stock valuations under each method. Compare and contrast the two methods of costing.The profit statements should be prepared using a recognised spreadsheet package and candidates shoulddemonstrate IT skills by linking worksheets/workbooks wherever possible.The evidence should be printouts of data and formulae in relation to marginal and absorption costing.The evidence should be generated under closed book supervised conditions.Figures must be accurate within a tolerance of four errors.Assessment GuidelinesIt is recommended the assessment of this Outcome be completed within two hours.Evidence comparing and contrasting the two methods of costing could be generated using a recognisedword processing package.HN Unit (F7JS 34): Management Accounting Using Information Technology 7
  33. 33. Administrative InformationUnit code: F7JS 34Unit title: Management Accounting Using Information TechnologySuperclass category: AKOriginal date of publication: August 2010Version: 01History of changes:Version Description of change DateSource: SQA© Scottish Qualifications Authority 2010This publication may be reproduced in whole or in part for educational purposes provided that no profitis derived from reproduction and that, if reproduced in part, the source is acknowledged.SQA acknowledges the valuable contribution that Scotland’s colleges have made to the development ofHigher National qualifications.Additional copies of this Unit specification can be purchased from the Scottish Qualifications Authority.Please contact the Customer Contact Centre for further details, telephone 0845 279 1000.HN Unit (F7JS 34): Management Accounting Using Information Technology 8
  34. 34. Higher National Unit specification: support notesUnit title: Management Accounting Using Information TechnologyThis part of the Unit specification is offered as guidance. The support notes are not mandatory.While the exact time allocated to this Unit is at the discretion of the centre, the notional design length is80 hours.Guidance on the content and context for this UnitThis Unit is primarily intended to prepare candidates for a career in cost or management accounting butwould also be appropriate to those who wish to gain experience in budget preparation. It is also relevantto those with appropriate work experience who wish to formalise their management accountingqualifications.This Unit is an introduction to management accounting. The use of spreadsheet packages will introducecandidates to the different presentation possibilities used in management accounting in the workplace.For those candidates who successfully achieve this Unit, as part of the HNC/HND Accounting GroupAward, there may be opportunities to gain exemptions from a number of professional accounting bodies.Centres should contact the relevant professional bodies to ascertain their current exemption policies.Outcome 1 covers the preparation of both functional and master budget statements. Functional budgets: sales, production, material purchases and usage, labour, fixed and variable overheads, and cash budget Master budgets: Profit and Loss Account and Balance SheetOutcome 2 covers the preparation of budgetary control reports and cost variances. The variances toinclude: Material: price and usage Labour: rate and efficiency Variable production overheads: expenditure and efficiency Fixed production overheads: expenditure and volumeOutcome 3 involves the use of break-even analysis as an aid to decision making. Calculation of break-even levels using a mathematical approach Demonstration of changes using graphs Effects on profit/loss Recommendations on courses of actionOutcome 4 covers the preparation of profit statements using marginal and absorption costing. Stockvaluations will be calculated using both methods.HN Unit (F7JS 34): Management Accounting Using Information Technology 9
  35. 35. Higher National Unit specification: support notes (cont)Unit title: Management Accounting Using Information TechnologyGuidance on the delivery and assessment of this UnitThis Unit is likely to form part of a Group Award designed to provide candidates with the knowledgeand skills for further study or employment within an accounting environment.Where this Unit is being delivered as part of the HNC/HND Accounting Group Award it isrecommended that the Unit be delivered towards the beginning of the Group Award to give candidates agood understanding of, and the application of practical skills in the preparation of budgets, bothfunctional and master; the operation of standard costing techniques, budgetary control and varianceanalysis; the use of break-even and sensitivity analysis and decision making based on break-evenanalysis; and the preparation and comparison of marginal and absorption costing statements.It is recommended each Outcome be assessed separately. The evidence for Outcome 1 is produced undersupervised conditions with access restricted to the functional budgets templates only. The evidence forOutcome 2 is generated under supervised conditions with access to blank templates only. The evidencefor Outcome 3 is generated under open-book supervised conditions. The evidence for Outcome 4 isgenerated under closed-book supervised conditions.During the delivery of this Unit it is recommended that candidates be made aware of the existence ofboth UK Generally Accepted Accounting Principles (UK GAAP) and International AccountingStandards (IAS) and the main differences in presentation of financial statements and terminology bebrought to their attendance.Opportunities for developing Core SkillsThe achievement of this Unit gives automatic certification of the Using Number component of the CoreSkill Numeracy at SCQF level 6. Throughout all four Outcomes of the Unit, the candidates apply a widerange of numeric skills to solve work related problems.The achievement of this Unit gives automatic certification of the Using Graphical Informationcomponent of the Core Skill Numeracy at SCQF level 5. In Outcome 3 the candidates are required toproduce and interpret graphs.The delivery and assessment of this Unit may contribute towards the Writing element of the WrittenCommunication component of the Core Skill Communication at SCQF level 5 if candidates prepare awritten report for management in Outcome 2.The delivery and assessment of this Unit may also contribute towards the Core Skill Problem Solving atSCQF level 5. In Outcome 3 candidates use break-even analysis to aid decision making. This involvescandidates carrying out calculations for three different scenarios and making recommendations tomanagement based on the calculations.These Core Skills can be developed through formative activities without being formally assessed forcertification of Core Skills.HN Unit (F7JS 34): Management Accounting Using Information Technology 10
  36. 36. Higher National Unit specification: support notes (cont)Unit title: Management Accounting Using Information TechnologyOpen learningThis Unit could be delivered by distance learning. However, it would require planning by the centre toensure the authenticity of candidate evidence. Arrangements would have to be made to ensure thatevidence is generated under the assessment conditions specified for each Outcome.Further advice can be found on SQA’s website – www.sqa.org.uk.Disabled candidates and/or those with additional support needsThe additional support needs of individual candidates should be taken into account when planninglearning experiences, selecting assessment instruments, or considering whether any reasonableadjustments may be required. Further advice can be found on our websitewww.sqa.org.uk/assessmentarrangements.HN Unit (F7JS 34): Management Accounting Using Information Technology 11
  37. 37. General information for candidatesUnit title: Management Accounting Using Information TechnologyThis Unit will introduce you to management accounting and reporting. You will make use of informationtechnology to demonstrate the various ways in which management information can be displayed.In Outcome 1 you will learn how to prepare budget statements using spreadsheets. The budget statementswill include functional budgets and master budgets. The functional budgets covered include: sales;production; materials purchase and usage; labour; fixed and variable overheads; and cash.In Outcome 2 you will look at cost variances (material, labour, variable production overheads, and fixedproduction overheads) and analyse these and prepare budgetary control reports.In Outcome 3 you will learn about break-even analysis and how this is used for decision making. Youwill calculate break-even levels using a mathematical approach and demonstrate the changes usinggraphs.In Outcome 4 you will prepare profit statements to demonstrate different stock valuations using bothmarginal and absorption costing methods.Throughout the Unit you will demonstrate your skills in using spreadsheets to prepare statements andlink worksheets/workbooks wherever possible.Each Outcome may be assessed separately. The assessments will be carried out under supervisedconditions.You will have opportunities to develop components within the Core Skills of Numeracy, Communicationand Problem Solving in this Unit. Achievement of this Unit gives automatic certification of UsingNumber at SCQF level 6 and Using Graphical Information at SCQF level 5.HN Unit (F7JS 34): Management Accounting Using Information Technology 12
  38. 38. Higher National Unit specificationGeneral information for centresUnit title: Cost AccountingUnit code: F7JR 34Unit purpose: This Unit is designed to introduce candidates to costing techniques that may beutilised within a cost accounting environment. The objective of the Unit is to enable candidates tomaintain a working accounting system for classifying and recording cost accounting information forpurposes such as stock valuations, job costing and profit measurement.This Unit is primarily intended for candidates who expect to take up a career or further study in cost ormanagement accounting. It is also relevant to those with appropriate work experience who wish either toformalise their qualifications or progress in their accounting career.On completion of the Unit the candidate should be able to:1 Account for material costs2 Account for labour costs3 Apportion and allocate overhead costs4 Account for product costs5 Record transactions in a cost accounting systemCredit points and level: 2 HN credits at SCQF level 7: (16 SCQF credit points at SCQF level 7*)*SCQF credit points are used to allocate credit to qualifications in the Scottish Credit and QualificationsFramework (SCQF). Each qualification in the Framework is allocated a number of SCQF credit points at an SCQFlevel. There are 12 SCQF levels, ranging from Access 1 to Doctorates.Recommended prior knowledge and skills: Access to this Unit is at the discretion of thecentre. However, candidates would normally be expected to be competent in communication andnumeracy at SCQF level 5 or have similar qualifications or experience.Core Skills: The achievement of this Unit gives automatic certification of the following: Using Number at SCQF level 5There are also opportunities to develop the Critical Thinking component of the Problem Solving CoreSkill at SCQF level 4 in this Unit, and these are highlighted in the Support Notes of this Unitspecification.Context for delivery: If this Unit is delivered as part of a Group Award, it is recommended that itshould be taught and assessed within the subject area of the Group Award to which it contributes.HN Unit (F7JR 34): Cost Accounting 1
  39. 39. General information for centres (cont)Assessment: This Unit could be assessed using five separate assessments.An exemplar instrument of assessment and marking guidelines have been produced to show the nationalstandard of achievement required at SCQF level 7.Since the Using Number component of the Numeracy Core Skill at SCQF level 5 is embedded in thisUnit, it is strongly recommended that you follow the assessment guidelines given. If you wish to use adifferent assessment model, you should seek prior moderation of the assessment instrument(s) you intendto use to ensure that the Core Skill is still covered.HN Unit (F7JR 34): Cost Accounting 2
  40. 40. Higher National Unit specification: statement of standardsUnit title: Cost AccountingUnit code: F7JR 34The sections of the Unit stating the Outcomes, Knowledge and/or Skills, and Evidence Requirements aremandatory.Outcome 1Account for material costsKnowledge and/or Skills Material costs and stock control Stock control documents Methods of stock valuation Stock control indicatorsEvidence RequirementsCandidates will need to provide evidence to demonstrate their Knowledge and/or Skills by showing thatthey can: Complete pro-forma stock control documentation relating to the movement of materials into the business, within the business and from the business. Record and calculate stock movements and value stock using two methods of stock valuation from: LIFO, FIFO or Weighted Average. Using stock control indicators calculate minimum stock levels, reorder levels, maximum stock levels, reordering costs, stock holding costs and economic order quantities in a given situation. Define material costs and outline, with a minimum of six reasons, why stock control is important.The evidence should be generated under supervised conditions with access restricted to pro-formadocumentation and formulae only. No other textbooks or notes should be available to the candidate.Figures must be accurate within a tolerance of three arithmetic or computational errors.Assessment GuidelinesIt is recommended that the assessment of this Outcome be completed within one and a half hours. Theassessment could be presented as a case study detailing a manufacturing organisation’s stockmovements. From this information candidates could complete the relevant documents and record cardsas well as calculate the stock control levels and values and explain the purpose and importance of stockcontrol.HN Unit (F7JR 34): Cost Accounting 3
  41. 41. Higher National Unit specification: statement of standards (cont)Unit title: Cost AccountingOutcome 2Account for labour costsKnowledge and/or Skills Labour costs Calculation of wages Idle time Incentive schemes Labour turnoverEvidence RequirementsCandidates will need to provide evidence to demonstrate their Knowledge and/or Skills by showing thatthey can: List the procedures for recording labour costs including documentation required. Calculate wages in differing situations within the workplace using basic time rate, overtime rate and differential piece work schemes. Identify idle time and record it within a cost accounting system. Use an incentive scheme to show effect on labour costs and profit. The incentive scheme used should be from: premium bonus schemes, commission or group bonus schemes. Describe a minimum of two effects on labour turnover for an organisation.The evidence should be generated under supervised conditions with access restricted to pro-formadocumentation only. No other textbooks or notes should be available to the candidate.Figures must be accurate within a tolerance of three arithmetic or computational errors, with a maximumof two errors of principle.Assessment GuidelinesIt is recommended that the assessment of this Outcome be completed within two hours. The assessmentcould be presented as a case study detailing labour cost information. From this information candidatescould complete the relevant documentation provided as well as accurately calculate wages in differingsituations and subsequent effect on profits/costs and labour turnover.HN Unit (F7JR 34): Cost Accounting 4
  42. 42. Higher National Unit specification: statement of standards (cont)Unit title: Cost AccountingOutcome 3Apportion and allocate overhead costsKnowledge and/or Skills Overhead analysis Overhead absorption rates Absorbed overheads — departmental overheads Over and under absorption and effect on profits Service cost centres Production departmentsEvidence RequirementsCandidates will need to provide evidence to demonstrate their Knowledge and/or Skills by showing thatthey can: Identify the overheads which can be allocated and those which must be apportioned. Use four different methods of apportioning overheads from: utilising floor space, number of employees, value of plant/machinery, sales volume and power of machinery. Calculate relevant departmental overheads after apportionment and allocation and then reapportion three service cost centre overheads to two production departments. Calculate overhead absorption rates using the completed overhead analysis, using two different bases from: direct labour hours, machine hours, cost units or prime cost. Calculate over/under absorption of all production department overheads based on a comparison of actual costs and expected costs. Describe how the over/under absorption of overheads would be treated in the financial records of the organisation.The evidence should be generated under supervised conditions with access restricted to pro-formadocumentation only. No other textbooks or notes should be available to the candidate.Figures must be accurate within a tolerance of three arithmetic or computational errors, with a maximumof two errors of principle.Assessment GuidelinesIt is recommended that the assessment of this Outcome be completed within one and a half hours. Theassessment could be presented as a case study detailing a manufacturing organisation with twoproduction departments and three service cost centres. From this information candidates shouldreapportion overheads using the pro-forma table provided as well as calculating overhead absorptionrates/actual overheads absorbed and under/over absorption. Candidates should be required to explain theresulting effects on profits.HN Unit (F7JR 34): Cost Accounting 5
  43. 43. Higher National Unit specification: statement of standards (cont)Unit title: Cost AccountingOutcome 4Account for product costsKnowledge and/or Skills Costs — direct, indirect, fixed and variable Coding system Job cost statement Service cost statementEvidence RequirementsCandidates will need to provide evidence to demonstrate their Knowledge and/or Skills by showing thatthey can: Account for product costs (direct, indirect, fixed and variable) by producing a job cost statement which details the build up of total costs with sub-totals for prime cost and production cost, selling price being accurately calculated by correctly applying a profit mark-up or margin. Account for product costs (direct, indirect, fixed and variable) by producing a service cost statement which differentiates between running (variable) and standing (fixed) costs, providing a total cost and identifying Unit operating costs. For each cost statement costs should be coded using a given coding system.The evidence should be generated under closed book supervised conditions.For the job cost statement figures must be accurate within a tolerance of three arithmetic orcomputational errors, with a maximum of two errors of principle.For the service cost statement figures must be accurate within a tolerance of two arithmetic orcomputational errors, with a maximum of one error of principle.Assessment GuidelinesIt is recommended that the assessment of this Outcome be completed within two hours. The assessmentcould be presented as a case study of either a manufacturing or service organisation. From thisinformation candidates should produce a job cost statement and a service cost statement. Each CostStatement could be assessed at a separate assessment event. The coding system used could be that usedin the HN Unit F7JP 34: Using Financial Accounting Software.HN Unit (F7JR 34): Cost Accounting 6
  44. 44. Higher National Unit specification: statement of standards (cont)Unit title: Cost AccountingOutcome 5Record transactions in a cost accounting systemKnowledge and/or SkillsCost accounting systemsEvidence RequirementsCandidates will need to provide evidence to demonstrate their Knowledge and/or Skills by showing thatthey can: Record a minimum of 20 transactions in either an interlocking or integrated cost accounting system. Candidates should then: — Prepare and balance the ledger and control accounts — Extract a trial balance from the ledger accounts.The evidence should be generated under open book supervised conditions.Figures must be accurate within a tolerance of two arithmetic or computational errors, with a maximumof one error of principle.Assessment GuidelinesIt is recommended that the assessment of this Outcome be completed within two hours. The assessmentcould be presented as a case study detailing a manufacturing organisation. From this informationcandidates could record transactions in a cost accounting system and extract the trial balance.HN Unit (F7JR 34): Cost Accounting 7
  45. 45. Administrative InformationUnit code: F7JR 34Unit title: Cost AccountingSuperclass category: AKOriginal date of publication: August 2010Version: 02History of changes:Version Description of change Date 02 Minor changes to Evidence Requirements in Outcomes 2 and 3. 27/07/10Source: SQA© Scottish Qualifications Authority 2010This publication may be reproduced in whole or in part for educational purposes provided that no profitis derived from reproduction and that, if reproduced in part, the source is acknowledged.SQA acknowledges the valuable contribution that Scotland’s colleges have made to the development ofHigher National qualifications.Additional copies of this Unit specification can be purchased from the Scottish Qualifications Authority.Please contact the Customer Contact Centre for further details, telephone 0845 279 1000.HN Unit (F7JR 34): Cost Accounting 8
  46. 46. Higher National Unit specification: support notesUnit title: Cost AccountingThis part of the Unit specification is offered as guidance. The support notes are not mandatory.While the exact time allocated to this Unit is at the discretion of the centre, the notional design length is80 hours.Guidance on the content and context for this UnitThis Unit is primarily intended for candidates who expect to take up a career or further study in cost ormanagement accounting. It is also relevant to those with appropriate work experience who wish either toformalise their qualifications or progress in their accounting career. This Unit is an introduction to costaccounting and will enable candidates to prepare cost and management accounting information andreports.For those candidates who complete this Unit as part of the HNC/D Accounting Group Award there maybe opportunities to gain exemptions from a number of professional bodies. Centres should contact therelevant professional bodies to ascertain their current exemption policies.Outcome 1 covers material costs and stock valuation for a manufacturing company. Definition of direct materials and how their receipt, issue and movement are recorded by organisations Stock control importune to cover issues such as holding costs, ordering costs and administrative costs Stock valuation methods: LIFO, FIFO and Weighted AverageOutcome 2 covers labour costs. Timesheets, wages analysis documentation and comparison of payment systems Direct labour costs Time and a half and double time overtime, piece rate and/or differential piece rate, group bonus schemes such as Performance Related PayOutcome 3 involves the apportioning and allocation of overhead costs. Overhead costs — fixed and variable Methods of apportioning overheads: floor space; number of employees; value of plant/machinery; sales volume; effective power of machinery Service cost centres Production departmentsOutcome 4 covers product costs. Job cost and Service cost statements using a structured layout to identify direct, indirect costs, variable and fixed costs where appropriate Cost plus and profit margin to calculate selling price Use of a given coding system to code costs in each of the cost statements (candidates could use the coding system used in the Unit F7JP 34: Using Financial Accounting Software)HN Unit (F7JR 34): Cost Accounting 9
  47. 47. Higher National Unit specification: support notes (cont)Unit title: Cost AccountingOutcome 5 covers the recording of transactions in a cost accounting system. Control accounts — wages, production overhead Ledgers — Purchases, Sales and GeneralGuidance on the delivery and assessment of this UnitThis Unit is likely to form part of a Group Award designed to provide candidates with the knowledgeand skills for further study or employment within an accounting environment.Where this Unit is being delivered as part of the HNC/D Accounting Group Award, it is recommendedthat the Unit be delivered either before, or in tandem with, the HN Unit F7JS 34: ManagementAccounting Using Information Technology.It is recommended that the Unit be delivered in the order of the Outcomes as this will represent a logicalbuild in knowledge and skills for candidates.The assessment could be designed around one case study. This could be a manufacturing organisation.Each Outcome could be assessed separately as there is little scope to combine the assessment ofOutcomes.All evidence should be produced under supervised conditions. The evidence for Outcomes 1, 2, 3 and 4should be produced under open book supervised conditions with access restricted to pro-formadocumentation only and the evidence for Outcome 5 should be produced under open book supervisedconditions.Opportunities for developing Core SkillsThe achievement of this Unit gives automatic certification of the Using Number component of the CoreSkill Numeracy at SCQF level 5. Throughout all 5 Outcomes of this Unit candidates apply a wide rangeof numerical skills to solve practical problems.The delivery and assessment of this Unit may also contribute towards the Critical Thinking componentof the Core Skill Problem Solving at SCQF level 4. In Outcome 3 candidates are required to allocate andapportion overheads across production and service departments using chosen bases as decided bycandidates. In Outcome 3 candidates are required to code invoices to a coding system using their ownjudgement as to the most appropriate code for each cost.Open learningThis Unit could be delivered by distance learning. However, it would require planning by the centre toensure the authenticity of candidate evidence. Arrangements would have to be made to ensure thatevidence is generated under the assessment conditions specified for each Outcome.Further advice can be found on SQA’s website www.sqa.org.uk.HN Unit (F7JR 34): Cost Accounting 10
  48. 48. Higher National Unit specification: support notes (cont)Unit title: Cost AccountingDisabled candidates and/or those with additional support needsThe additional support needs of individual candidates should be taken into account when planninglearning experiences, selecting assessment instruments, or considering whether any reasonableadjustments may be required. Further advice can be found on our websitewww.sqa.org.uk/assessmentarrangements.HN Unit (F7JR 34): Cost Accounting 11
  49. 49. General information for candidatesUnit title: Cost AccountingThis Unit is designed to enable you to gain knowledge and develop practical skills in cost accounting.Outcome 1 covers material costs for a manufacturing business. You will learn about the differentmethods of stock valuation and will complete practical tasks using these methods. You will learn aboutthe importance of stock control and the key stock control indicators. You will use given formulae tocalculate these indicators for an organisation using practical tasks.Outcome 2 moves on to look at other costs for the business — labour (employee) costs. You will learnhow to calculate gross wages using hourly rates, overtime rates and incentive schemes. You will learnabout the impact of different pay schemes on costs for the business and how these may impact on labourturnover for the business. You will learn about idle time and will allocate labour costs to jobs worked onby staff.Outcome 3 looks at other costs for the business — called overhead costs, these are the indirect costs ofthe business which may not be directly attached to a product or job. You will learn how these are spreadacross the different cost centres or cost units of the business. You will learn how these costs are shown inthe financial records of the organisation.Outcome 4 covers all product costs. You will learn how to incorporate these costs into a job cost orservice cost statement. You will learn how to calculate cost plus pricing and a profit mark up for theorganisation. You will also allocate a code, using a given coding system, to the costs involved.Outcome 5 involves recording transactions in an interlocking and integrated cost accounting system. Youwill learn how to prepare ledger and control accounts, balance off ledger accounts and produce a trialbalance.Each Outcome may be assessed separately and all assessments will be carried out under supervisedconditions.You will have opportunities to develop components within the Core Skills of Numeracy and ProblemSolving in this Unit. Achievement of this Unit gives automatic certification of Using Number at SCQFlevel 5.HN Unit (F7JR 34): Cost Accounting 12

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