How To Pass The Advanced Higher Course

Transcription

1 Accounting Points of change and areas of stability across National 5, new Higher and new Advanced Higher The new National Courses at National 5 combine popular and relevant topics of study from Standard Grade and Intermediate 1 and 2 Courses. The new National Courses at Higher combine popular and relevant topics of study from the existing Higher. The new National Courses at Advanced Higher combine popular and relevant topics of study from the existing Advanced Higher. These new Courses also introduce revised content and revised methods of assessment, increasing personalisation and choice for learners. The Accounting Courses are explored through the following areas of study: National 5 and Higher: Preparing Financial Accounting Information Preparing Management Accounting Information Analysing Accounting Information Advanced Higher: Financial Accounting Management Accounting Through these areas of study, learners will develop specific skills for learning, skills for life and skills for work. The development of subject-specific and generic skills is central to all Courses. Learners will develop these skills and techniques in context and they should be made aware of the skills they are developing and of their transferability. It is this aspect of skills development that will help learners progress to further study or the world of work. Through the successful completion of this Advanced Higher Course, learners will develop skills in: applying knowledge of the accounting regulatory framework applying knowledge of the regulatory framework to produce and analyse income statements, statements of financial position and statements of cash flow (with associated disclosure notes) for external publication producing consolidated accounting information for multiple company entities demonstrating knowledge and understanding of the accountant s role in meeting organisational goals, including profit maximisation and social responsibility using management accounting information to produce a range of budgets to aid internal planning applying a wide range of complex cost accounting techniques to help control business performance producing management accounting information to facilitate business decision-making using ICT to produce and communicate accounting information in a range of familiar and unfamiliar contexts

2 Course/level National 5 (SCQF 5) Higher (SCQF 6) Advanced Higher (SCQF 7) At National 5, an area that will be new to centres is: At Higher, topics that will be new to centres include: At Advanced Higher, no new topics have been added to the Course: Areas/topics of study the mandatory use of a spreadsheet to complete the assignment The National 5 Course has rationalised the content and has removed topics such as: the accounts of partnerships, limited companies and non-profit making organisations bank reconciliation statement suspense accounts personal finance (from Standard Grade) manufacturing accounts and process accounts (from Intermediate 2) At National 5, centres that have delivered Standard Grade and Intermediate 2 will be familiar with the following topics or areas of study: business documents and ledger entries that include accounting for VAT, trade and cash discount correction of errors preparation of final accounts of a sole trader to take account of depreciation, prepayments and accruals cash budgets, breakeven analysis and ratio analysis the use of a spreadsheet and word processing applications to complete the assignment business analysis investment ratios investment appraisal non-financial performance indicators social accounting, environmental issues. Centres that currently deliver Higher will be familiar with the following topics or areas of study: preparing period-end financial statements for partnerships and public limited companies, including manufacturing concerns costing (AVCO, overheads, job cost statements, service and process cost statements) budgeting (sales, cash and production) overhead analysis (re-apportionment of overheads, calculation of overhead absorption rates, under/over-absorption of fixed overheads) International Accounting Standards 1 (IAS 1) relates to the presentation of accounts and has introduced some new terminology. This is now used in all SQA Accounting Courses. The Advanced Higher Course has rationalised the content and has removed topics such as: Financial Accounting: issue of shares; incomplete records; ratio analysis Management Accounting: process costing; service costing Centres that currently deliver Advanced Higher will be familiar with the following topics or areas of study: Financial Accounting regulatory framework annual reports basic consolidated statements of financial position Corporate Social Responsibility (CSR) partnership Accounts Management Accounting activity-based costing contract costing marginal and absorption costing

3 At National 5, centres that have delivered Intermediate 2 will be familiar with the following topics or areas of study but these will be new to centres that have delivered Standard Grade: investment appraisal discounted cash flow (NPV and IRR) standard costing valuation of stock (FIFO, LIFO) overhead analysis statements that allocate, apportion and re-apportion costs to cost centres limiting factors and job cost statements use of spreadsheet functions in preparing accounting information To achieve the National 5 Course, learners must pass all of the required Units and the Course assessment. To achieve the Higher Course, learners must pass all of the required Units and the Course assessment. To achieve the Advanced Higher Course, learners must pass all of the required Units and the Course assessment. The Course assessment will consist of two Components: an assignment and a question paper. Both will be externally assessed. The Course assessment will consist of two Components: an assignment and a question paper. Both will be externally assessed. The Course assessment will consist of two Components: a question paper and a project. The Coursework project is new at Advanced Higher. Added Value/Course assessment Each Component will assess both skills and knowledge and understanding, although the question paper will have a greater emphasis on knowledge and understanding, while the assignment will have a greater emphasis on skills. Each Component will assess both skills and knowledge and understanding, although the question paper will have a greater emphasis on knowledge and understanding, while the assignment will have a greater emphasis on skills. Each Component will assess both skills and knowledge and understanding, although the question paper will have a greater emphasis on knowledge and understanding, while the assignment will have a greater emphasis on skills. Coursework: assignment The assignment will require learners to work through a series of tasks to prepare accounting information and financial statements using a spreadsheet. Learners may be required Coursework: assignment The assignment will give learners an opportunity to demonstrate IT skills by using a spreadsheet for accounting purposes. It will also sample accounting knowledge and understanding and the Coursework: project The purpose of the project is to allow learners to demonstrate challenge and application. The project will provide learners with an opportunity to investigate and report on a contemporary accounting

4 to use this information to aid decisionmaking, analyse the organisation s financial position or make recommendations for the future. The assignment may draw from only one topic of the Course or a combination of two/three topics. The use of ICT in completing the assignment is mandatory. The assignment will be a computerbased assessment and will be provided by SQA on an annual basis. SQA will provide advice and guidance on the degree of support that can be provided for learners, the conditions under which this component will be undertaken, and the nature and amount of evidence to be generated. Question paper The question paper will sample the skills, knowledge and understanding from the Course Specification and the Course Assessment Specification. It will draw on styles of questions used in Standard Grade and Intermediate 2 question papers. All questions will be mandatory. ability to analyse and make decisions. The content will be drawn from the mandatory Course coverage. The assignment brief will be based on a specific accounting scenario, and will give learners the opportunity to apply their accounting skills, knowledge and understanding and make appropriate use of ICT. They will perform calculations, compare and analyse accounting information, make decisions based on their analysis and present findings in a short report. The assignment will be set by SQA on an annual basis and will be marked externally by SQA. The assignment is worth 50 marks. SQA will provide advice and guidance on the degree of support that can be provided for learners, the conditions under which this Component will be undertaken, and the nature and amount of evidence to be generated. Question paper The question paper will sample knowledge and understanding from the mandatory information on Course coverage. It will draw upon styles of questions used in the current Higher question paper. The main changes are: all questions in the paper are mandatory questions will be based on partnerships and public limited issue of a UK-based public limited company, and the disclosure of accounting information related to the issue, using knowledge of the accounting regulatory framework. The project will have 60 marks. It will require learners to demonstrate skills of research, analysis, report writing and application of knowledge and understanding. SQA will provide advice and guidance on the degree of support that can be provided for learners, the conditions under which this Component will be undertaken, and the nature and amount of evidence to be generated. Question paper The purpose of the question paper is to provide learners with an opportunity to demonstrate the practical application of the skills, knowledge and understanding of accounting procedures from across the Course. The question paper will give learners an opportunity to show greater depth or extension of skills, knowledge and understanding than those assessed in the Units of the Course, through the following: preparing period-end accounting statements suitable for external publication differentiating profit from cash how to account for multiple company entities

5 companies (including manufacturing concerns) positive marking will be applied to all Components of the Course assessment The question paper has 100 marks and will have a time limit of 2 hours. It has two Sections. Section 1 (40 marks): one mandatory question Section 2 (60 marks): three mandatory questions of 20 marks each applying advanced costing techniques in-depth evaluation of investment techniques for decision-making calculating and interpreting standard cost information for planning and control The question paper has 140 marks and learners will complete this in 2 hours and 30 minutes. Section 1 (120 marks) will consist of mandatory questions sampled from a full range of mandatory Course coverage. Questions from each Section will sample the mandatory Course coverage, and will ensure there is no duplication of content and that there is a balanced coverage across the Units. Skills assessed: handling information, numeracy, problemsolving, analysis and application of knowledge and understanding. Section 2 (20 marks) will have two optional 20 mark questions, sampled from a full range of mandatory Course coverage. Learners will choose which question to answer. Assessment of underpinning accounting knowledge and understanding will permeate the question paper. Further information The details above for National 5 should be read in conjunction with the relevant: Mandatory documentation: Course Specification Unit Specifications Course Assessment Specification Advice and guidance: Course and Unit Support Notes The details above for Higher should be read in conjunction with the relevant: Mandatory documentation: Course Specification Unit Specifications Course Assessment Specification Advice and guidance: Course and Unit Support Notes The details above for Advanced Higher should be read in conjunction with the relevant: Mandatory documentation: Course Specification Unit Specifications Course Assessment Specification Advice and guidance: Course and Unit Support Notes

6 Assessment: Unit Assessment Support materials: judging evidence table Coursework Component: general assessment information on the Coursework: general marking principles the Coursework assessment task: general marking principles, Question paper: specimen question paper: general marking principles, Assessment: Unit Assessment Support materials: judging evidence table Coursework Component: general assessment information on the Coursework: general marking principles the Coursework assessment task: general marking principles, detailed Marking Instructions Question paper: specimen question paper: general marking principles; Assessment: Unit Assessment Support materials: judging evidence table Coursework Component: general assessment information on the Coursework: general marking principles the Coursework assessment task: general marking principles, Question paper: specimen question paper: general marking principles; detailed Marking Instructions