ProQual Level 1 Award in Understanding Essential Financial Control Course in Islamabad || Registration Open

ProQual Level 1 Award in Understanding Essential Financial Control Course in Islamabad || Registration Open

Registration Open= +92-3315999937, +92- 3215056755 (WhatsApp Only)

Introduction

The aim of this qualification is to provide learners with an introduction to using accounting

software and is appropriate for learners of all ages, particularly students in schools and

colleges.

Topics include installing a computerised financial system, coding in accounting software,

sales invoices/purchase invoices and credit notes, controlling money, petty cash

transactions, balancing accounts, producing reports and data security.

The awarding organisation for this qualification is ProQual Awarding Body and the

regulatory body is the Office of Qualifications and Examinations Regulation (Ofqual). The

specification for these qualifications has been approved by the Welsh Government for use

by centres in Wales.

Entry Requirements

There are no formal entry requirements for this qualification. Centres should carry out an

initial assessment of candidate skills and knowledge to identify any gaps and help plan the

assessment.

Qualification Profile

Qualification title ProQual Level 1 Award in Understanding Essential

Financial Control

Ofqual qualification number 603/1261/0

Level 1

Total Qualification Time 20 hours (14 GLH)

Assessment

Pass or fail

Internally assessed and verified by centre staff

External quality assurance by ProQual verifiers

Qualification start date 27/3/2017

Qualification end date

Qualification Structure

Candidates must complete ONE Mandatory unit:

Y/615/5943 Essential Financial Control

ProQual, March 2017

Level 1 Award in Understanding Essential Financial Control

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Centre Requirements

Centres must be approved to offer this qualification. If your centre is not approved please

complete and submit form ProQual Additional Qualification Approval Application.

Staff

Staff delivering this qualification must be appropriately qualified and occupationally

competent.

Assessors/Internal Quality Assurance

For each competence-based unit centres must be able to provide at least one assessor and

one internal quality assurance verifier who are suitably qualified for the specific

occupational area. Assessors and internal quality assurance verifiers for competence-based

units or qualifications will normally need to hold appropriate assessor or verifier

qualifications, such as:

  • ProQual Level 3 Certificate in Teaching, Training and Assessing
  • Award in Assessing Competence in the Work Environment
  • Award in Assessing Vocationally Related Achievement
  • Certificate in Assessing Vocational Achievement
  • Award in the Internal Quality Assurance of Assessment Processes and Practices
  • Certificate in Leading the Internal Quality Assurance of Assessment Processes and

Practices

Support for Candidates

Materials produced by centres to support candidates should:

  • enable them to track their achievements as they progress through the learning

outcomes and assessment criteria;

  • provide information on where ProQual’s policies and procedures can be viewed;
  • provide a means of enabling Internal and External Quality Assurance staff to

authenticate evidence

ProQual, March 2017

Level 1 Award in Understanding Essential Financial Control

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Assessment

Candidates must demonstrate the level of knowledge and competence described in the unit.

Assessment is the process of measuring a candidate’s knowledge and understanding against

the standards set in the qualification.

Each candidate is required to produce evidence which demonstrates their achievement of

all of the learning outcomes and assessment criteria for each unit.

Evidence can include: – assignments/projects/reports

– worksheets

– portfolio of evidence

– record of oral and/or written questioning

– candidate test papers

Learning outcomes set out what a candidate is expected to know, understand or be able to

do.

Assessment criteria specify the standard a candidate must meet to show the learning

outcome has been achieved.

Learning outcomes and assessment criteria for this qualification can be found from page 7

onwards.

Internal Quality Assurance

An internal quality assurance verifier confirms that assessment decisions made in centres

are made by competent and qualified assessors, that they are the result of sound and fair

assessment practice and that they are recorded accurately and appropriately.

Adjustments to Assessment

Adjustments to standard assessment arrangements are made on the individual needs of

candidates. ProQual’s Reasonable Adjustments Policy and Special Consideration Policy sets

out the steps to follow when implementing reasonable adjustments and special

considerations and the service that ProQual provides for some of these arrangements.

Centres should contact ProQual for further information or queries about the contents of the

policy.

ProQual, March 2017

Level 1 Award in Understanding Essential Financial Control

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Results Enquiries and Appeals

All enquiries relating to assessment or other decisions should be dealt with by centres, with

reference to ProQual’s Enquiries and Appeals Procedures.

Certification

Candidates who demonstrate achievement of the qualification will be awarded a certificate

giving the full qualification title –

ProQual Level 1 Award in Understanding Essential Financial Control

Claiming certificates

Centres may claim certificates for candidates who have been registered with ProQual and

who have successfully completed the requirements for a qualification. All certificates will be

issued to the centre for successful candidates.

Replacement certificates

If a replacement certificate is required a request must be made to ProQual in writing.

Replacement certificates are labelled as such and are only provided when the claim has

been authenticated. Refer to the Fee Schedule for details of charges for replacement

certificates.

ProQual, March 2017

Level 1 Award in Understanding Essential Financial Control

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Learning Outcomes and Assessment Criteria

Unit

Essential Financial Control

Learning Outcome – The learner will: Assessment Criterion – The learner can:

1 Understand Essential Financial

Control : Money in and out of a Bank

Account; Debtors and Creditors

1.1 Identify the difference between cash in the bank

and making a profit

1.2 State the meaning of the terms

  1. a) Creditor
  2. b) Debtor

2 Be able to install and set up a

Computerised Financial System

2.1 Note the difference between cloud software and

desktop software

2.2 Install computerised financial software

2.3 Set up a new company, accurately enter:

Company Name, Address, Financial Year,

Programme Date, VAT Number and Scheme

2.4 Back up data to a secure location

2.5 Restore data from a secure location

3 Be able to Code within Accounting

Software to account for VAT,

different transaction types,

customers and suppliers

3.1 Note the difference between VAT rates

3.2 Create suitable and appropriate nominal accounts

3.3 Create customer and supplier account codes and

records, accurately enter:

Company Name, Address, Nominal Code, Contact

3.4 Make simple corrections to data to change or alter:

VAT Code, Nominal Code, Customer and Supplier

Codes

4 Be able to record Customer Sales

Invoices and Credit Notes

4.1 Record information from invoices sent to

customers, accurately enter:

Document Date, Nominal Code, Document

Reference, Amount, VAT Amount

4.2 Enter credit notes sent to customers, accurately

enter:

Document Date, Nominal Code, Document

Reference, Amount, VAT Amount

4.3 Produce appropriate report for customer invoices

over a date range detailing:

Gross Amount, Net Amount, VAT Amount

4.4 Produce appropriate report for customer credit

notes over a date range detailing:

Gross Amount, net Amount, VAT Amount

5 Be able to record Supplier Purchase

Invoices and Credit Notes

5.1 Record information from invoices received from

supplies, accurately enter:

Document Date, Nominal Code, Document

Reference, Amount, VAT Amount

ProQual, March 2017

Level 1 Award in Understanding Essential Financial Control

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Learning Outcome – The learner will: Assessment Criterion – The learner can:

5.2 Record information from credit notes received from

suppliers, accurately enter:

Document Date, Nominal Code, Document

Reference, Amount, VAT Amount

5.3 Produce an appropriate report for supplier invoices

over a date range detailing:

Gross Amount, Net Amount, VAT Amount

5.4 Produce an appropriate report for supplier credit

notes over a date range detailing:

Gross Amount, Net Amount, VAT Amount

6 Be able to Control Money : the Bank

Account; enter Receipts and

Payments, create Reports

6.1 Identify an opening bank account balance and enter

into the software

6.2 Record receipts made from customers and paid into

the bank account, accurately enter:

Customer, Date, Amount, Allocate in Full, Allocate in

Part, Allocate Credit Notes,

and enter a payment on account

6.3 Enter payments made to suppliers and paid out of

the bank account, accurately enter:

Supplier, Date, Amount, Allocate in Full, Allocate in

Part, Allocate Credit Notes,

and enter a payment on account

6.4 Produce appropriate report for customer receipts

over a date range:

  • Day Book Reports – detailing Customer,

Date, Reference, Amount Paid

  • Customer Statements – detailing amounts

outstanding over a given date range

6.5 Produce appropriate report for supplier payments

over a date range:

  • Day Book Reports – detailing Supplier, Date,

Reference, Amount Paid

6.6 Produce a supplier remittance detailing amount

paid over a given date range:

  • Supplier Remittance

7 Be able to record Non Credit Bank

Transactions, Bank Reconciliation

7.1 Enter bank payments and bank receipts not relating

to customers or suppliers:

Wages, loans, direct debits, standing orders,

payments to HMRC

7.2 Match items on the bank statement to transactions

in the computer bank account record over a given

date range

7.3 Mark the transactions as reconciled

7.4 Produce bank reconciliation reports:

  • Reconciled transactions
  • Un-Reconciled transactions

ProQual, March 2017

Level 1 Award in Understanding Essential Financial Control

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Learning Outcome – The learner will: Assessment Criterion – The learner can:

8 Understand an opening petty cash

balance : Entering an opening

balance, Petty Cash Transactions

8.1 Enter an opening petty cash balance into the

software

8.2 Enter simple petty cash transactions

8.3 Enter petty cash sales with VAT, Correct Date,

Nominal Code, Gross Amount and VAT Amount

8.4 Enter a range of petty cash payments with and

without VAT, Correct Date, Nominal Code, Gross

Amount and VAT Amount

9 Know how to balance accounts and

produce reports : The Trial Balance,

Nominal Ledger Reports and other

reports

9.1 Produce a trial balance as at a given date or period

9.2 Produce nominal reports using correct selection

criteria and parameters, for example: Nominal

Activity, Nominal Day Books, Audit Trail

9.3 Produce reports on information:

  • Customer Account Balances – Aged Debtor

Reports, Customer Address

  • Supplier Account Balances – Aged Creditor

Reports, Supplier Address

10 Understand Data Security Risks, Data

Protection and Safe Data Storage

10.1 Identify data security risks when running a

computerised accounting system

10.2 Identify how to produce data when running a

computerised accounting system

10.3 Identify how to store data when running a

computerised accounting system in line with

current legislation

 

Registration Open= +92-3315999937, +92- 3215056755 (WhatsApp Only)

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