Course details
Course Learning Outcomes
The Level 3 Specialised Diploma in Accounting & Finance is suitable for students who have a clear idea of their professional aspirations and how they want to specialise within a business function. This range of coherent and flexible qualifications provides students with a diverse but related body of knowledge and skills, which together contribute to a rounded and motivating learning experience that is relevant to their interests and how they intend to progress.
The diploma structure consists of three mandatory and one vocationally-related subject. The mandatory subjects form the context for the Diploma and provide opportunities for students to develop and apply in-depth knowledge, understanding and skills within their chosen area of specialism. The optional subjects provide complementary and relevant learning in to the students chosen Diploma to enhance their breadth of study.
The compulsory certificates are Accounting (Level 3), which builds upon candidates ability to prepare and interpret accounts for different types of businesses, in accordance with basic accounting conventions and practice, and also develops candidates ability to apply the key principles in decision making. Business Statistics (Level 3), that develops candidates basic knowledge and understanding of quantitative data and statistical techniques, and the use of formulae to solve business problems. Professional Ethics in Accounting & Finance (Level 3), that introduces candidates to the importance of the ethical duties of an accounting professional, and how these are applied in the work environment. The optional module offered include Computerised Accounting Skills (Level 3), which develops candidates ability to manage a computerised accounting system in order to provide management information. Candidates will learn how to process non-routine accounting transactions and print and analyse reports such as the Profit and Loss and Balance Sheet.
In addition, the Level 3 Specialised Diploma has articulation benefits and is designed towards 1st year entry point to UK universities; such as Manchester Metropolitan University, Middlesex University, and University of Gloucester, within a related degree programme.
Teaching / Learning Methods and Strategies
Hands-on Practical lessons / Trial of Past Year Examination Papers / Assignments / Classroom Face-To-Face Theoretical Explanations
Entry Requirements
1 GCE N Level OR
1 GCE O Level OR
NITEC/Higher NITEC; OR
Minimum High school level of English equivalent to the LCCI Level 2 English for Business or JETSET 4 - (Council of Europe B1/Threshold)
Additional Entry Pre-requisite
Possess Basic Book-Keeping and Accounting knowledge and skills equivalent to the LCCI Level 2 Book Keeping and Accounts qualification; OR
Mature working adults with practical working experiences in a financial/accounting industry assessed on case-by-case basis
Assessment Information
EXAMINABLE THEORY & PRACTICAL PAPER (EXTERNAL AWARD BY LONDON CHAMBERS OF COMMERCE & INDUSTRY INTERNATIONAL QUALIFICATIONS, UK) - 3 TIMES / YEAR [MARCH & APRIL (Series 2/On-Demand) / JUNE (Series 3) / NOVEMBER & DECEMBER (Series 4)].Criteria of Award
Candidates must fulfill at least 75% course attendance requirements by BMCs ACADEMIC and EXAMINATIONS BOARDS to sit for examinations. Level 3 specialised diploma consist of total 4 sub-modules - a pass in 3 mandatory units include Accounting (Level 3), Business Statistics (Level 3), and Professional Ethics in Accounting & Finance (Level 3) (core units). In addition, a pass in 1 optional module Computerised Accounting Skills (Level 3). All 4 modules for combination within 24 months (from first sitting of module passed for examinations).
Final Award
London Chamber of Commerce and Industry (LCCI) Level 3 Specialised Diploma in Accounting and Finance.
Module
The 4 sub-modules include
Accounting Level 3
Business Statistics Level 3
Professional Ethics in Accounting & Finance Level 3
Computerised Accounting Skills Level 3
1. Accounting Level 3
The Certificate in Accounting Level 3 [ASE 3012] builds upon candidates ability to prepare and interpret accounts for different types of businesses, in accordance with basic accounting conventions and current UK accounting practice. It also develops candidates ability to apply the key principles in decision making. The qualification is suitable for people who work or intend to work in an advanced accounting role with a high level of autonomy. This qualification is accredited in the UK as EDI Level 3 in Accounting 500/3709/2, and it has also been awarded UCAS tariff points for entry into selected UK Universities. Successful candidates at Level 3 Certificate in Accounting can progress to study LCCI IQ Level 4 Financial Accounting.
The aims of this qualification are to enable candidates to develop: an understanding of the basic principles underlying the recording of business transactions; the ability to prepare and interpret accounts for sole-traders, partnerships, non-trading organisations, limited companies and groups of companies in accordance with basic accounting conventions and current accounting practice; and the ability to apply the principles of decision making. Candidates who attempt this qualification must have the knowledge and skills equivalent to the LCCI IQ Level 1 Certificate in Book-keeping and Level 2 Certificate in Book-keeping and Accounts qualifications.
Syllabus topics include:
Levels 1 and 2 revisited
Valuation of stocks
Valuation of fixed assets
Partnerships
Companies
Accounting for groups of companies
Cash flow statements
Accounting ratios
Budgetary control
Introduction to decision making
Concepts and accounting framework
Note: Taxation, in all its forms, is excluded from this syllabus
ASSESSMENT OBJECTIVES
Demonstrate an understanding of the more advanced aspects of Level 1 Certificate in Book-keeping and Certificate in Level 2 Book-keeping and Accounts
Prepare accounts for a partnership in relation to alterations in partners interests and the conversion of a partnership into a limited company
Prepare accounting entries for a limited company to record the issue of share capital and the issue and redemption of debentures
Account for distributable profits and profits prior to incorporation for companies
Prepare cash flow statements in accordance with FRS 1 (revised)
Prepare a cash budget
Prepare a budgeted trading and profit and loss account
Calculate and interpret accounting ratios
Demonstrate an understanding of the principles of decision making
Interpret accounting statements
Demonstrate an understanding of accounting standards and concepts
2. Business Statistics Level 3
The Certificate in Business Statistics Level 3 [ASE3009] develops candidates basic knowledge and understanding of quantitative data and statistical techniques, and the use of formulae to solve business problems. It is suitable for people working or intending to work in a finance-related role, or those that want to develop these skills for academic progression to more advanced administrative, business and management qualifications, including LCCI IQ Level 3 and 4 Diplomas.
Syllabus topics include:
Quantitative Information such as Graphical Presentation, Survey Methodology, and Use of Computers in Business Statistics
Descriptive Statistics such as Measures of Location and Dispersion - grouped data and ungrouped data, Measures of Skewness, Coefficient of Variation, and Index numbers
Forecasting such as Correlation and Regression, and Time series
Uncertainty such as Probability, and Normal distribution
Statistical Inference such as Procedure for Significance Tests, Type I and Type II errors, Significance Tests and Confidence Intervals (n>30, n<30), Chi-square Tests, and Quality Control
ASSESSMENT OBJECTIVES
Demonstrate a knowledge and understanding of basic and more advanced statistical techniques including the collection and presentation of data
The ability to apply the above knowledge and understanding in solving business problems
3. Professional Ethics in Accounting & Finance Level 3
The Level 3 Award in Professional Ethics and Finance [ASE20051] introduces candidates to the importance of the ethical duties of an accounting professional. It develops their knowledge and understanding of the framework and principles of ethical behaviour in accounting and how these are applied in the work environment.
The aims of the qualification are to develop the candidates ability to: recognise the significance of ethical duties within the accounting profession and the impact on organisational and professional reputation and integrity; understand the framework and general principles of ethical behaviour and how they may be applied in the work environment; and understand how and when to take actions following any suspected breach of ethical codes.
This qualification is suitable for people pursuing a career in accounting or those who currently work in accounting and finance related roles. It can be taken as part of the candidates personal development as well as to maintain continuing professional development. Accredited in the UK as EDI Level 3 Award in Professional Ethics and Finance (QCF) 501/1786/5, it has a credit value of 3. Also, this qualification can be taken as a standalone qualification or as part of the mandatory subject combination for Level 3 Specialised Diploma in Accounting and Finance, Level 3 Specialised Diploma in Managerial Accounting, or the Level 3 Specialised Diploma in Cost Accounting.
Syllabus topics include
Principles of Ethical Working in Accountancy or Payroll [30%]
Ethical Behaviour when Working with Internal And External Customers [50%]
Appropriate Actions for Suspected Breaches of Ethical Codes [20%]
ASSESSMENT OBJECTIVES:
Demonstrate candidates knowledge and understanding of the general principles of ethical behaviour and the relevant legal, regulatory and ethical requirements affecting the finance and accounting sector
Recognise the importance of ethical behaviour to individuals and organisations and the opportunities for maintaining continuing professional development
Demonstrate candidates understanding of how they should behave ethically when working with internal and external customers
Demonstrate candidates understanding of the importance of keeping a professional distance between professional duties and personal life, as well as the need to adhere to organisational policies, professional values, codes of practice and regulations at all times
Demonstrate candidates knowledge and understanding of how and when to take appropriate actions following any suspected breaches of ethical codes
Apply candidates knowledge and understanding to given case studies or scenarios
4. Computerised Accounting Skills Level 3
The Level 3 Award in Computerised Accounting Skills [ASE20055] develops candidates ability to manage a computerised accounting system in order to provide management information. Candidates will learn how to process non-routine accounting transactions and print and analyse reports such as the Profit and Loss and Balance Sheet.
The aims of the qualification is to develop candidates competence in using computerised accounting software to produce accurate, professional and well presented accounting information employing an appropriate range of accounting procedures. It particularly aims to develop skills in: setting up initial business data in a computerised accounting system; processing and completing advanced business transactions; producing and analysing end period reports; and producing and reviewing a range of routine and non-routine accounting reports for management purposes.
This qualification is suitable for people who work or intend to work in an advanced accounting role which requires the computerized processing and completion of advanced accounting transactions and the preparation of end period reports. Accredited in the UK as the EDI Level 3 Award in Computerised Accounting Skills (QCF) - 501/1266/1, it has a credit value of 10. It is taught and assessed using compatible computerised accounting software (e.g. MYOB). Also, this unit-sized qualification can be taken as a standalone qualification or as part of the Level 3 Specialised Diploma in Managerial Accounting, Level 3 Specialised Diploma in Accounting and Finance, Level 3 Specialised Diploma in Cost Accounting, Level 3 Specialised Diploma in Business Management and Accounting, Level 3 Diploma in Computerised Accounting or the Level 3 Diploma in Business Studies.
Syllabus topics include
Setting up initial data
Entering transactions
Processing credit card transactions
Recording transactions relating to acquisition and disposal of fixed assets
Making end of period adjustments
Amending Chart of Accounts and producing and analysing end period reports
Producing and reviewing routine and non-routine reports
ASSESSMENT OBJECTIVES:
Use computerized accounting software to enter initial data for a sole trader and record transactions relating to the owner
Use computerized accounting software to enter outstanding customer and supplier invoices, credit notes and payments on account
Use computerized accounting software to enter and reconcile an opening Trial Balance
Use computerized accounting software to enter non-credit transactions, supplier and customer credit transactions and journal transactions
Use computerized accounting software to record transactions for the acquisition, disposal and depreciation of fixed assets
Use computerized accounting software to make end period adjustments for stock, income, expenses and VAT*
Use computerized accounting software to edit the Chart of Accounts and produce end reports including Profit and Loss, Balance Sheet, VAT* Return and Budget vs Actuals
Use computerized accounting software to produce and review a range of routine and non-routine reports
*or the relevant national purchase tax, e.g. GST, Consumption Tax, Sales Tax, State Sales Tax, PST, SUT
Grading System
1. For Accounting Level 3 and Business Statistics Level 3 modules -
GRADING RESULTS
50% - 59% PASS
60% - 74% CREDIT
75% and above DISTINCTION
2. For Professional Ethics in Accounting & Finance Level 3 module -
Part A consists of 10 unrelated multiple-choice questions, while Part B consists of a case study, with 10 related questions. Questions in Part A carry one mark for each correct answer while the questions in Part B carry two marks for each correct answer. The paper is marked out of a total of 30 marks.
GRADING AND MARKING SCHEME RESULTS
18-23 marks PASS
24-27 marks CREDIT
28 > marks DISTINCTION
3. For Computerised Accounting module -
Successful candidates will be awarded a Pass, Credit or Distinction in the Level 3 Award in Computerised Accounting Skills based on the following error tolerances:
IMMEDIATE FAIL PROCESSING ERRORS OTHER ERRORS RESULTS
None Permitted Maximum of 5 errors permitted Maximum of 6 errors permitted PASS
None Permitted Maximum of 3 errors permitted Maximum of 4 errors permitted PASS
None Permitted Maximum of 1 errors permitted Maximum of 2 errors permitted PASS
Expected date of release of Assessment result
Assessment results will be available to the students within 3 months upon completion of the last assessment for that assessment cycle. Appeal (if any) on assessment results must be lodged within 7 days after the release of assessment results.
Specimen Certificate
LCCI_Sample_Diploma_UPD2_BTCH1_v3_Specialised Diploma in Accounting and Finance
Course Location
About BMC International College
BMC International College has a humble beginning, starting with a vision of its founder, in providing affordable education to the masses during its early years in 1960s. BMC has today grown in size and all its centres are located strategically around Singapore and are within the MRT (train) and bus stations. BMC International College offers a wide range of courses from Accounting, Business, Engineering, Hotel & Tourism Management to Psychology and Counselling. BMC’s educational partners are Autodesk, Edexcel International, the Confederation of Tourism & Hospitality (CTH), London Chamber of Commerce and Industry (LCCI), NCC Education (UK) and the University of Hertfordshire (UK). BMC deploys teachers that meet its educational partners’ requirements and/or the requirements set by CPE. See all BMC International College coursesAccounting, Finance and Banking Related Questions
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