ProQual Level 2 Award in Accounting Knowledge Course in Islamabad || Registration Open

ProQual Level 2 Award in Accounting Knowledge Course in Islamabad || Registration Open

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


This qualification is appropriate for individuals wanting to demonstrate their knowledge of

using computerised accounting software.

Topics include understanding VAT, recording accounting transactions, processing accounting

transactions, the bank and patty cash accounts, controlling the accounts, ethics and in

legislation in finance and accounting.

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


Qualification Profile

Qualification title ProQual Level 2 Award in Accounting Knowledge

Ofqual qualification number 603/1262/2

Level 2

Total Qualification Time 45 hours (34 GLH)


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:

D/615/5944 Accounting knowledge

ProQual, March 2017

Level 2 Award in Accounting Knowledge


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 delivering this qualification must be appropriately qualified and occupationally


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


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 2 Award in Accounting Knowledge



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.

Assessment guidance is included to assure consistency.

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


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


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


ProQual, March 2017

Level 2 Award in Accounting Knowledge


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.


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

giving the full qualification title –

ProQual Level 2 Award in Accounting Knowledge

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


ProQual, March 2017

Level 2 Award in Accounting Knowledge


Learning Outcomes and Assessment Criteria

Introduction to Accounting

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

1 Understand Basic Accounting Concepts 1.1 Identify the four characteristics and business needs

to consider when setting up an accounting system:

Relevance, Reliability, Comparability,


1.2 Identify the terminology of the Accounting Equation

1.3 Classify the following terms:

Fixed Assets, Current Assets, Current Liabilities, Long

Term Liabilities, Capital

1.4 Describe the difference between Revenue

Expenditure and Capital Expenditure

2 Understand the principles of VAT 2.1 Describe:

(a) what VAT is

(b) when to register for VAT

(c) how the VAT system works

2.2 Identify the 3 different rates of VAT

2.3 Describe what the terms ‘exempt’ and ‘outside the

scope’ refer to

2.4 Describe the different VAT schemes:

  • Standard
  • Cash Accounting
  • Annual Accounting
  • Flat Rate

3 Know how to Record Accounting


3.1 Describe the importance of an accurate coding

system and how it is used in:

Prime Documents, Primary Records, Double Entry


3.2 Explain the difference between trade, bulk and

settlement accounts

3.3 Describe the effect that a settlement discount has on

the calculation of VAT

3.4 Describe the purpose, format and use of the books

of prime entry:

  • Sales and sales return day book
  • Purchase and purchase returns day book
  • Cash and petty cash book

3.5 Identify the purpose of, the authorisation and the

legal requirement for retention of:

  • Sales and purchase orders
  • Sales and purchase invoices and credit notes
  • Statements and remittance advice notes
  • Bank statements and petty cash voucher

ProQual, March 2017

Level 2 Award in Accounting Knowledge


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

4 Be able to Process Accounting


4.1 Enter sales invoices through the day books and into

the sales ledger

4.2 Enter purchase invoices through the day books and

into the purchase ledger

4.3 Enter a range of nominal transactions from the day

books into the nominal ledger and balance the


4.4 Produce an accurate (balanced) Trial Balance from

the nominal ledger balances

5 Be able to process the Bank and Petty

Cash Accounts

5.1 Enter a range of transactions through the bank


5.2 Reconcile the bank account to the bank’s statement

5.3 Enter a range of transactions through the petty cash


  • Petty cash payments
  • Petty cash receipts
  • Purchase payments
  • Sales receipts

6 Understand Control Accounts 6.1 Describe the formation of a control account and the

information required to complete the entries

6.2 Identify the different types of journal and the

different reasons for processing a journal

6.3 Process a range of journal entries to correct errors,

adjust accounts or enter information

6.4 Construct a VAT control account from the day books

and ledger information

7 Understand Professional Ethics in

Finance and Accounting

7.1 Identify four of the five fundamental principles of

the code of ethics for professional accountants

7.2 Explain the importance of maintaining security when

keeping accounts

7.3 Identify the principles of data protection including:

  • Ensuring it is adequate, relevant and not

more than is required

  • Not kept longer than necessary

7.4 Describe the main duties and responsibilities of

employers under health and safety legislation


There must be valid, authentic and sufficient for all the assessment criteria. However, one

piece of evidence may be used to meet the requirements of more than one learning

outcome or assessment criterion.


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

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