Accounting (National 5)
CPD Presentation
Preparing Financial Accounting
Information (National 5) (National
5)1.1 - COLLECTING REVELANT
Assessment Standard 1.1 - Collecting relevant accounting data from
business
documents that cover
a range
of transactions
ACCOUNTING
DATA
FROM
BUSINESS
DOCUMENTS THAT COVER A RANGE
OFassessment
TRANSACTIONS
For
purposes candidates are not expected to complete
business documents eg (copy) invoice, (copy) credit note, cheque
counterfoil, cheque, (copy) receipt. Centres should bear this in mind
when creating assessments.
Preparing Financial Accounting
Information (National 5)
Assessment Standard 1.2 –
Recording transactions in ledger accounts using double entry.
Consequentiality must be applied. Where a candidate incorrectly identifies
the document, an initial error is made. Subsequent entries based on this
error are consequential and should not be penalised.
In particular, when assessing candidate evidence centres should note that
the entry for VAT is consequential to the candidate correctly identifying the
transaction as a sale/purchase/return.
The debtor/creditor account is also consequential to this.
Preparing Financial Accounting
Information (National 5)
Assessment Standard 1.3 –
Preparing a trial balance from available ledger account balances
Consequentiality should be applied with regard to final totals.
Where candidates have incorrectly entered an account balance this should
be treated as one error, however the impact on the total is consequential
and should not be penalised again.
Preparing Financial Accounting
Information (National 5)
Assessment Standard 2.1 Explaining why businesses need to account for period-end adjustments
Candidates should only be deemed to have achieved this Assessment
Standard where a clear understanding of the accruals/matching concept
has been demonstrated.
Preparing Financial Accounting
Information (National 5)
Assessment Standard 2.2 –
Calculating period-end adjustments from accounting data provided
 Pupils must clearly detail adjustments being made i.e. show working
notes.
 Results of achievement should be clearly indicated on pupil evidence.
Preparing Financial Accounting
Information (National 5)
Assessment Standard 2.3 - Describing the effect of period-end
adjustments on net profit and the balance sheet
Refer to the Unit Assessment Support Packs on SQA’s secure website for
the characteristics of answers that demonstrate achievement of this
Assessment Standard.
Preparing Financial Accounting
Information (National 5)
Outcome 3
Prepare period-end financial accounting statements that show net profit and
net worth
The headings/labels expected are detailed in the Judging Evidence Table
of the Unit Assessment Support Pack in the Commentary on Assessment
Judgements column.
Preparing Management Accounting
Information 1.1 - COLLECTING
REVELANT ACCOUNTING DATA FROM
Outcome 1.1 - Describing direct and indirect costs and classifying the
BUSINESSelements
DOCUMENTS
THAT COVER A
of these costs
RANGE OF TRANSACTIONS
Candidate answer must indicate that direct costs are clearly linked to
product/service and that no link to production of individual unit is
possible for indirect costs.
Encourage candidate to use examples from classification part of
question to solidify answer.
Preparing Management Accounting
Information (National 5)
Assessment Standard 1.2 –
Describing fixed and variable costs and classifying them in order to aid
break-even analysis
Encourage candidates to use examples from the classification part of
the task to solidify answer.
Preparing Management Accounting
Information (National 5)
Assessment Standard 1.3 –
Defining a cash budget and outlining why is it prepared
 Candidates must make sure that they clearly define the term
‘cash budget’.
 Candidates must ensure that they have clearly stated its
purpose.
Preparing Management Accounting
Information (National 5)
Assessment Standard 1.3 –
Preparing accounting statements from a given range
 Candidates are required to prepare 2 statements from Job
Costing, Stock Valuation and Overhead Analysis.
 Where candidates meet the Assessment Standard in one
statement and not the other, re-assessment is only required in
the statement where the standard was not met.
Preparing Management Accounting
Information (National 5)
Assessment Standard 2.2
Calculating break-even information
Assessment Standard 2.3 –
Preparing a cash budget from given data for a specified Accounting
period
Analysing Accounting Information
(National 5) (National 1.1 COLLECTING REVELANT ACCOUNTING
Assessment Standard 1.1
DATA
FROM
BUSINESS
Calculating
and assessing
the effect of a change in costs and selling
price on break-even point and profit
DOCU
MENTS
THAT
COVER
All working should
be clearly
shown. A RANGE OF
TRANSACTIONS
Analysing Accounting Information
(National 5)
Assessment Standard 1.2
Calculating and assessing the impact that a limiting factor has on profit
maximisation
Assessment Standard 1.3
Interpreting a cash budget and outlining possible courses of action
Analysing Accounting Information
(National 5)
Assessment Standard 2.1
Calculating accounting ratios that assess the profitability, liquidity and
efficiency of an organisation
Assessment Standard 2.2
Comparing ratios based on given yardsticks of comparison to evaluate
and report on the organisation’s performance
General Comments
It is expected that candidate evidence submitted for each outcome
clearly indicates whether the candidate has achieved/not achieved
the Assessment Standard.
Whilst it is acceptable for assessments to be completed using
spreadsheets, for assessments to be meaningful templates should
not be provided. The inclusion of a formulae printout is not required.
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