ProQual Level 2 Award in Accounting Knowledge Course in Pakistan || Registration Open
Registration Open= +92-3315999937, +92- 3215056755 (WhatsApp Only)
Introduction
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
assessment.
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)
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:
D/615/5944 Accounting knowledge
ProQual, March 2017
Level 2 Award in Accounting Knowledge
4
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 2 Award in Accounting Knowledge
5
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.
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
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 2 Award in Accounting Knowledge
6
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 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
certificates.
ProQual, March 2017
Level 2 Award in Accounting Knowledge
7
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,
Understandability
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
Transactions
3.1 Describe the importance of an accurate coding
system and how it is used in:
Prime Documents, Primary Records, Double Entry
Accounts
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
8
Learning Outcome – The learner will: Assessment Criterion – The learner can:
4 Be able to Process Accounting
Transactions
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
accounts
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
account
5.2 Reconcile the bank account to the bank’s statement
5.3 Enter a range of transactions through the petty cash
account:
- 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
Assessment
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.
