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STOW COLLEGE

HNC (HND Year 1) Accounting

COURSE HANDBOOK 2012/2013


Contents

Page

Welcome

2

The Team

2

Aims of the course

3

Progression and Articulation

4-7

Course Content

8

Overview of Units

9-13

Core and Essential Skills

13-14

Assessment and Feedback

15

Learner Support

15-16

Moodle

16

Attendance and Personal Study

16

Your Feedback

16

1


Welcome to Stow College The HND Year 1 (HNC) Accounting course team welcome you to Stow College and hope that your experience as a student here will be both enjoyable and successful. This handbook has been produced to give you an overview of the course as well as information on the structure of the course and how it will be assessed. It will also give you information on the core and essential skills that you will develop while completing the course and information on progression possibilities on successful completion of the course. The Team All members of staff on the team are specialists in their subject area and very approachable. The members of staff on the team are as follows: Lorraine Johnston

Course Organiser

ljohnston@stow.ac.uk

Room 1/5

Gerard Tierney

Tutor

gtierney@stow.ac.uk

Room 1/7

Damien Cohen

Tutor

dcohen@stow.ac.uk

Room 1/7

Margaret Cairns

Tutor

mcairns@stow.ac.uk

David Wilcock

Tutor

dwilcock@stow.ac.uk

Room 1/7

Andy Fulton

Tutor

afulton@stow.ac.uk

Room 1/7

John Carlin

Tutor

jcarlin@stow.ac.uk

Room 1/7

Billy Taggart

Tutor

btaggart@stow.ac.uk

Room 2/12

It is our aim to ensure your learning experience and success at Stow College is the very best that it can be. We will offer you the guidance and support that you need to achieve success on the course but we in turn expect you to be committed to the course and to take responsibility for your learning. This handbook focuses specifically on your course. There are other college publications available through Moodle, the college Virtual Learning Environment (VLE) which will give you further information about the college. These are the College Handbook and Learner Services information booklet.

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Aims of the Course The HNC and HND Accounting group awards are certificated by the Scottish Qualifications Authority (SQA). The primary aim of HNC and HND Accounting Group Awards is to provide you with the full range of competences to meet the requirements of employers recruiting accounting staff. These awards give you scope to develop and progress in a variety of ways within organisations of all types and sizes. In addition they enable you to progress to further academic and professional qualifications either prior to taking up an accounting position or in parallel with it. Statistics show that these Group Awards have featured within the top 10 HNC/HNDs over the last five years. These awards will allow you: •

To develop your knowledge and skills such as planning, analysing and reporting.

To develop employment skills related to the accounting National Occupational Standards (NOS) and professional accounting body requirements and so enhance your employment prospects.

To enable progression within the Scottish Credit and Qualifications Framework (SCQF).

To develop study and research skills.

To develop transferable skills, including Core Skills, to the levels demanded by employers and/or progression in higher education.

Specific Aims of the HNC (HND Year 1) Accounting Group Award •

To prepare you for employment in an accounting related post at assistant level such as accounts assistant, finance assistant, book-keeper, payroll assistant, sales and purchase ledger clerk.

To prepare you for progression to further study in accounting or a related discipline. For example, entry to year one or year two of an accounting degree programme.

To prepare you for progression to professional accounting bodies’ qualifications.

To develop and integrate a range of contemporary vocational skills. For example, the integration of financial and costing data; the preparation,

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analysis and reporting of financial data; practical information technology skills using a range of relevant software packages. Specific Aims of the HND Accounting Group Award As the HND Accounting is a development of the HNC award, the specific aims are similar to those of the HNC Accounting above although your knowledge and skills will be developed to an enhanced level, permitting access to employment at a more senior or professional level and further exemptions from higher education and professional body education programmes. •

To prepare you for employment in an accounting related post at assistant level such as accounts technician, assistant accountant and accounts supervisor.

To prepare you for progression to further study in accounting or a related discipline. For example, entry to year two or year three of an accounting degree programme.

To prepare you for progression to professional accounting bodies’ qualifications.

To develop and integrate a range of contemporary vocational skills in addition to those developed at HNC level. For example, researching, evaluating and interpreting financial data, awareness and application of current accounting standards and legislation, providing information of decision making and control.

To enable you to integrate financial and management accounting with relevant business taxation.

Progression and Articulation The HNC Accounting forms the first part of the HND Accounting so you could continue with your learning to develop your qualification to HND level. This may be done immediately or at some point in the future. This award provides the skills and knowledge for those wishing to gain employment, or currently employed, in roles such as accounts assistant, trainee accountant, finance assistant, book-keeper or financial administrator. Both HNC and HND Accounting awards provide you with opportunities to progress to higher education with universities recognising the HNC award as entry to first or second year of their accounting degree programmes and the HND award as entry to the second or third year.

4


The HNC Accounting and HND Accounting Group Awards are recognised by both the Association of Chartered Certified Accountants (ACCA) and the Chartered Institute of Management Accountants (CIMA). Articulation to Universities Articulation arrangements offered by some Scottish universities to holders of a HNC Accounting or a HND Accounting are summarised below. Other universities may also offer advanced entry to holders of the HNC/HND awards. This information was correct at June 2011. You are advised to check this with the relevant university for changes prior to applying. It is very important to note that applications for Universities should be submitted to UCAS by mid-January of year of entry. These are usually completed electronically by you and submitted by the college. Competition for places is fierce and failure to meet this deadline will probably mean you will not gain entry to the course of your choice. Your course organiser will help provide you with an academic reference. The Hub can provide advice and support to help you complete your UCAS application. Higher Education Institution

Degree

Articulation from HNC Accounting

Articulation from HND Accounting

University of West of Scotland

B Acc Accountancy

Year 2 entry

Year 3 entry

Glasgow Caledonian University

BA Accountancy

Year 1 entry

Year 2 entry with AAA in Graded Units.

Herriot-Watt University

MA in Accountancy and Finance

Year 1 entry with B in Graded Unit. Year 2 entry considered for exceptional candidates on an individual basis.

Year 2 entry with BBC in Graded Units. Year 3 entry considered for exceptional candidates on an individual basis.

The University of Dundee

B Acc Accountancy

Year 1 entry

Year 2 entry

Abertay University

BA (Hons) Accounting with Finance

N/A (HND top up degree only)

Year 3 entry.

University of Stirling

B Acc Accountancy

Year 1 entry with B in Year 2 entry with BB in Graded Unit. Graded Units.

The Robert Gordon University

BA Accounting and Finance

Year 1 entry

Year 2 entry.

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Professional Accounting Bodies Exemptions This information was correct at June 2011. You are advised to check this with the relevant professional body for changes prior to applying.

ACCA Exemptions SQA Award

ACCA Exemptions

HNC Accounting

Certified Accounting Technician (CAT) Paper T1 Recording Financial Transactions Paper T2 Information for Management Paper T3 Maintaining Financial Records Paper T4 Accounting for Costs Paper T5 Managing People and Systems Paper T6 Drafting Financial Statements Paper T7 Planning, Control and Performance Management

ACCA qualification Paper F1 Accountant in Business Paper F2 Management Accounting Paper F3 Financial Accounting HND Accounting

Certified Accounting Technician (CAT) Exemption from all papers

ACCA qualification Paper F1 Accountant in Business Paper F2 Management Accounting Paper F3 Financial Accounting Paper F4 Corporate and Business Law Paper F5 Performance Management (on achievement of units Management Accounting for Planning and Control and Management Accounting for Decision Making)

6


CIMA Exemptions SQA Award

CIMA Exemptions

HNC Accounting HNC Accounting – Mandatory units

C1 Fundamentals of Management Accounting C2 Fundamentals of Financial Accounting

HNC Accounting – Mandatory units + additional units on paper by paper basis Statistics for Business

C3 Fundamentals of Business Mathematics

Economic Issues: An Introduction

C4 Fundamentals of Business Economics

Business Law: An Introduction

C5 Fundamentals of Ethics, Corporate Governance and Business Law

Business Contractual Relationships HND Accounting (in addition to the above if have achieved all stated) HND Accounting – Mandatory units

P1 Performance Operations F1 Financial Operations

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Course Content HNC Accounting Framework The HNC Accounting framework comprises nine mandatory credits (72 SCQF credit points) at SCQF level 7 and three optional/non mandatory credits (24 SCQF credit points) at SCQF levels 6, 7 or 8. If it is your intention to achieve a HND Accounting you will study 15 credits in the first year to balance out your studies. Unit Title

Code

SCQF credit points

SCQF Level

SQA Credit Value

Mandatory Units Recording Financial Information

F7JV 34

8

7

1

Preparing Final Accounts

F7JT 34

16

7

2

Using Financial Accounting Software

F7JP 34

8

7

1

Cost Accounting

F7JR 34 16

7

2

Management Accounting Using Information Technology

F7JS 34 16

7

2

Accounting: Graded Unit 1

F8KE34

7

1

8 72

9

Non – Mandatory Units Statistics for Business

F84K 35

8

8

1

Business Law: An Introduction

F84P 34

8

7

1

Business Contractual Relationships

F84N 34

8

7

1

Communication: Analysing and Presenting Complex Communication Economic Issues: An Introduction

DE3N 34

8

7

1

F7J8 34

8

7

1

IT in Business – Spreadsheets

F84V 34

8

7

1

8


Overview of Unit Content Recording Financial Information F7JV 34 This Unit is designed to enable you to develop manual book-keeping skills. It will give you the knowledge needed to record financial information, using a double entry book-keeping system, up to trial balance. The Unit will also enable you to complete a VAT Return and incorporate control mechanisms into the book-keeping system. This Unit is primarily intended for those who expect to take up a career or further study in accounting and/or financial administration. It is also relevant to those with appropriate work experience and who wish to formalise their book-keeping skills. On completion of the Unit you should be able to: • Record financial transactions in books of original entry • Record financial transactions in a double entry book-keeping system and extract a trial balance • Complete a VAT Return • Incorporate control mechanisms into a book-keeping system

Preparing Final Accounts F7JT 34 This Unit is designed to enable you to prepare final accounts for a range of business organisations — sole traders, partnerships and companies. These organisations can be either traders or manufacturing concerns. You will also prepare cash flow statements and analyse accounting statements using appropriate accounting ratios for a limited company. This Unit is primarily intended for those who expect to take up a career or further study in accounting and/or financial administration. It is also relevant to those with appropriate work experience who wish to formalise their financial accounting skills. On completion of the Unit you should be able 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 ratios

Using Financial Accounting Software F7JP 34 This Unit is designed to enable you to use a commercial accounting software package to process financial transactions and to prepare accounting reports for a small business. This Unit is primarily intended for those who expect to take up a career or further study in accounting and/or financial administration. It is also relevant for those who wish to extend their manual book-keeping skills to those of a computerised accounting system and to those with appropriate work experience who wish to formalise their skills.

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On completion of the Unit you should be able to: • Use an accounting software package to set up and amend accounting records • Use an accounting software package to process financial transactions • Use an accounting software package to incorporate year-end adjustments and produce final accounts for a small business • Use an accounting software package to produce a range of accounting reports

Cost Accounting F7JR 34 This Unit is designed to introduce you to costing techniques that may be utilised within a cost accounting environment. The objective of the Unit is to enable you to maintain a working accounting system for classifying and recording cost accounting information for purposes such as stock valuations, job costing and profit measurement. This Unit is primarily intended for those who expect to take up a career or further study in cost or management accounting. It is also relevant to those with appropriate work experience who wish either to formalise their qualifications or progress in their accounting career. On completion of the Unit you should be able to: • Account for material costs • Account for labour costs • Apportion and allocate overhead costs • Account for product costs • Record transactions in a cost accounting system

Management Accounting Using Information Technology F7JS 34 This Unit is designed to enable you to develop your management information decision making and information technology skills. The Unit will enable you to provide timeous, meaningful and well-presented financial information. It uses information technology as an assessment tool to enable you to prepare management information for control and decision making in an organisation. This Unit is primarily intended for those who expect to take up a career or further study in cost or management accounting but would also be appropriate to those who wish to gain experience in budget preparation. It is also relevant to those with appropriate work experience who wish to formalise their management accounting qualifications. On completion of the Unit you should be able to: • Prepare budget statements • Prepare a basic budgetary control report and a variance analysis • Use break-even analysis for decision making • Prepare profit statements using marginal and absorption costing methods

10


Statistics for Business This Unit introduces you to statistical concepts and descriptive statistics used in business. The Unit will provide you with the underpinning knowledge and skills required to use statistical and graphical techniques to address business problems using appropriate IT software. On completion of the Unit you will be able to: • Explain statistical techniques for collecting data. • Use statistical techniques to analyse and interpret data. • Use software to produce forecasts and diagrams. Business Law: An Introduction This Unit is designed to introduce you to the framework of law as it applies within the business environment. The Unit will examine the sources of Scottish law, the contractual relationships between individuals, the contractual relationships between individuals and businesses, and the distinction between types of business relationships. It is primarily intended for those who require a knowledge of legal matters in a business context. On completion of this Unit you will be able to: • Explain the main sources of Scots Law. • Explain the law of contract. • Distinguish the legal characteristics of the various types of business organisations and relationships.

Business Contractual Relationships This Unit is designed to develop your knowledge of the law as it applies within the business environment. The Unit will examine consumer legislation, the law in employment and the Law of Obligations as it relates to the contractual relationships between the business, their customers and their employees. On completion of this Unit you will be able to: • Explain the key statutory provisions relating to consumer protection. • Explain the key elements of the law in employment. • Explain the key elements of the Law of Obligations.

Communication: Analysing and Presenting Complex Communication This unit is about responding to and presenting complex business communication. On completion of the unit you should be able to: • Analyse complex written business information. 11


• •

Produce complex written business documents. Organise and participate in a formal meeting.

Economic Issues: An Introduction This Unit introduces you to fundamental issues in economics with a particular emphasis on the business environment. You will learn about the basic economic problem and how the consumer and other economic agents address this problem. You are introduced to the operation of markets and actions that can be taken to help avoid market failure. The Unit introduces the theory of National Income and the circular flow of income model. On completion of this Unit you should be able to: • Explain the allocation of resources within the economy. • Explain the theory of National Income. • Explain and evaluate the role of government policy in the UK market.

IT in Business – Spreadsheets This Unit is designed to allow you to develop an understanding of spreadsheet design and how to use spreadsheet features and functions for practical and effective use. It is relevant to those wishing to develop their knowledge of spreadsheets as a tool to help provide solutions to common business problems. On completion of the Unit you should be able to: • Create a spreadsheet design to provide solutions for a business scenario. • Present spreadsheet data in graphical form and interpret the results. • Provide solutions to a business scenario using spreadsheet statistical functions.

Accounting: Graded Unit 1 F8KE34 This is a closed-book examination lasting 3 hours comprising of a computational section (60%) and a narrative section (40%). This Unit covers the integration of a range of knowledge and skills achieved through studying the mandatory Units of the Group Award, ie F7JV 34 Recording Financial Information, F7JT 34 Preparing Final Accounts, F7JP 34 Using Financial Accounting Software, F7JR 34 Cost Accounting and F7JS 34 Management Accounting Using Information Technology. This assessment should take place towards the end of the course to ensure that you will have studied the topics which will be assessed in the Graded Unit. The closed-book examination allows you to experience working in conditions where it is not possible to access reference books — conditions which are frequently encountered in the work place, whilst studying in Higher Education and for professional accounting qualifications. 12


Graded Units The purpose of the Graded Units is to assess your ability to retain and integrate the knowledge and/or skills gained in the mandatory Units, to assess that you have met the principal aims of the Group Award and to grade your achievement. The Graded Units will be assessed and a grade of A, B or C will be awarded. You will undertake a one credit Graded Unit at SCQF level 7 in the HND Year 1(HNC) award. In the HND you will undertake a further two Graded Units at SCQF level 8 in the second year of the HND Group Award. The Graded Unit for the HND Year 1 (HNC) takes the form of an examination at SCQF level 7. The Graded Units are important as the grades you receive offer a good measurement of your general understanding and ability and will be taken into account by universities, professional bodies and employers.

Core and Essential Skills Core Skills To meet employment needs and for progression to further study, the HNC Accounting and HND Accounting Group Awards incorporate opportunities for you to develop all five Core Skills. The opportunities to develop Core Skills are identified within each Unit specification. In some Units, the completion of the Unit gives you automatic certification of the Core Skill or the Core Skill components. In other cases, the Unit specification identifies opportunities for you to develop Core Skills or Core Skill components, although there is no automatic certification. In all cases, the Core Skills set out in the Unit specifications have been subject to audit and validation by independent Core Skills specialists.

Core Skill

Recommended Entry Minimum

Recommended exit SCQF level HNC HND

Communication

SCQF Level 5

6

6

Numeracy

SCQF Level 5

6

6

Information Communication Technology (ICT) Problem Solving

SCQF Level 5

6

6

SCQF Level 5

6

6

Working with Others

SCQF Level 5

6

6

13


Core Skills Development on a unit by unit basis for HNC Accounting/HND Accounting Year 1 Unit Number

Unit Title

F84K 35 DE3N 34

Statistics for Business Communication: Analysing and Presenting Complex Communications IT in Business: Spreadsheets

F84V 34

Core Skill (C, N, IT,PS,WO) N 6E; IT 5S C 6E

Delivery Term 1 / Term 2/ Term 3

N 5E; IT 5S;PS 5ES

Other units: Unit Number

Unit Title

F7JV 34 F7JT 34 F7JP 34

Recording Financial Information Preparing Final Accounts Using Financial Accounting Software Cost Accounting Management Accounting Using IT

F7JR 34 F7JS 34 F8KE 34 F84P 35 F84N 34 F7J8 34

Accounting: Graded Unit 1 Business Law: An Introduction Business Contractual Relationships Economic Issues: An Introduction

Core Skill (C, N, IT,PS,WO) N 5E; PS 4S; N 5E; IT 5E

Delivery Term 1 / Term 2/ Term 3

N5E; PS 4S C 5S; N 6E; PS 5S C 6S; IT 5S C 6S;IT 5S; PS 6S C 6S;PS 5S

Essential Skills As well as developing the core skills listed above it is intended that the course will provide opportunities for you to also develop other essential skills and personal attributes that will prepare you for employment and enable you to contribute effectively to society. You will be expected to, and be encouraged to, maintain high standards at all times with regard to conduct, attendance, timekeeping and attitude. It is intended that the course will develop your confidence and learning skills to enable you to become more independent in your studies.

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Assessment and Feedback Assessment You will be assessed throughout the course with the assessments taking the form of practical assessments, assignments, and case studies as directed by each unit specification. Most assessments for the HNC/D Accounting courses are completed in class. Where an assessment requires work to be submitted to your tutor by a certain date then you are required to meet this submission deadline. If you are unsuccessful or absent in the first attempt at an assessment you will be given one opportunity of re-assessment (or in exceptional circumstances two). Towards the end of your course you will undertake a Graded Unit, which is designed to assess your ability to integrate the knowledge and skills gained through the mandatory Units. This will take the form of an examination at SCQF level 7 and is worth 1 HN credit. Tutors for the individual Units will refer you to how their particular Unit might influence your Graded Unit response. All learner scripts are subjected to internal and external verification on a sample basis. Internal verification is carried out within the college by a subject specialist who ensures that the assessment instrument used is valid and that each script has been marked fairly and consistently. External verification is carried out by subject specialists appointed by SQA who visit the college and also ensure that the assessment instrument used is valid and that each script has been marked fairly and consistently. Plagiarism Academic dishonesty is not tolerated. The College will deal with all matters of academic honesty as detailed in the Student Handbook which is available to you through the College VLE Moodle. Submitted work will be submitted via Turnitin, a software programme that detects plagiarism. With submitted work it is important that you ensure that where you have made reference to literature that the source/author is fully acknowledged in your work. Feedback Scripts, assignments, projects and other submissions made by you will be assessed timeously. Under normal circumstances results and feedback on performance will be made available to you within 10 working days of submission.

Learner Support The College operates an Equal Opportunities Policy and welcomes students from all sections of the community. Starting college can be a very daunting experience for some students and this may apply to you. Stow College aim to provide you with the help and support you need for your course to enable you to achieve your goals and work to your full potential. The Hub is a centre in the college that provides a wide range of services and is available to all learners. The Hub team comprises core staff 15


with expertise across the full spectrum of services and offer appropriate student support to all students on a short term or an on-going basis. This support can be arranged through group and sometimes individual tutorials. If you feel that you need a bit of extra support with your studies then you should visit the Hub and find out what support is available.

Moodle As a student you will have access to Moodle, the college’s Virtual Learning Environment (VLE). You can also access this from home to support your studies. This facility allows you to access general information that will be of use to you as a student at Stow such as the Student Handbook and support available through Learner Services. There are also links into library resources such as study aids and e-books which will be useful in your studies. Your tutors will also upload more specific materials and resources to help support you in your studies. Some assessments will also be submitted through Moodle.

Attendance and Personal Study It is expected that you will be punctual and attend all your timetables classes in order to give yourself the best possible opportunity to succeed. College statistics indicate that students with poor attendance records tend to be less successful. If you are going to be absent you should e-mail your course organiser to that effect giving reasons and expected return date. If you are absent and miss classes you will require to catch up with your studies although your tutor will give you support where possible. Your course will involve continuous assessment and you should be aware that you may miss assessments because of your absence. It may be that you will have a part-time job while studying at college. Whilst this can have a positive impact on your interpersonal and organisational skills it is important that you ensure that any part-time work does not infringe on your studies at college. As well as attending timetabled classes you will also need to prepare for classes and study on your own time. It is recommended that you allow for about 10 to 12 hours of study per week.

Your Feedback The college and your tutors strive to make your learning experience at Stow College the best that it can be. We welcome feedback on all aspects of your course, both positive and negative. There are several mechanisms in place for you to provide formal feedback on your college experiences. There are college questionnaires and surveys issued at various times throughout the academic year. Each class group is given the opportunity to elect a Class Representative to represent the group and put across their views and issues at Course Team/Committee meetings. You are also encouraged to raise issues directly with your tutors or course organiser. 16


Hn Accounting course description