The London Chamber of Commerce and Industry LCCI International Qualifications are awarded by Pearson Education Ltd. An accredited Awarding Body providing vocational and professional qualification around the world. Pearson is accredited by the UK qualifications regulator, the Office of Qualifications and Examinations Regulation (Ofqual), and many regulatory bodies and Ministries of Education around the world recognise LCCI International Qualifications. Employers, universities and other professional bodies internationally recognise the LCCI international qualifications. LCCIs range of courses is designed to deliver the skills essential for success in todays demanding commercial environment. The Pearson-LCCI winning formula lies in its flexible programme with examination at various levels thus enabling candidates to enter at the most appropriate level for their existing skills. Pearson-LCCI also offer Diplomas and Group Awards to allow candidates to add to their marketable skills and receive professional status.
Course Learning Outcomes
Candidate will learn from the basic principles underlying the recording of financial transactions. They will also learn to prepare and interpret accounts for various types of organizations and businesses. The aim of this course is to equip candidates with the knowledge as well as the understanding of the concepts and techniques involved in the preparation of accounting information, in the analysing of costing behaviour and the assessing of resource control. The 5 sub-modules include Complete Book-keeping (Elementary & Intermediate), Higher Accounting, Cost Accounting, Management Accounting, and Business Statistics (optional).
Teaching / Learning Methods and Strategies
Trial of Past Year Examination Papers / Assignments / Classroom Face-To-Face Theoretical Explanations
- 1 GCE N Level OR
- 1 GCE O Level OR
- LCCI Level 2 Certificate in Book-Keeping OR
- NITEC/Higher NITEC
Additional Entry Pre-requisite for DIA, DCA courses
- Basic Book-Keeping knowledge; OR
- LCCI Level 2 Certificate in Book-Keeping; OR
- Practical working experiences in a financial/accounting industry.
EXAMINABLE THEORY PAPER (EXTERNAL AWARD BY LONDON CHAMBERS OF COMMERCE & INDUSTRY INTERNATIONAL QUALIFICATIONS, UK) - 3 TIMES / YEAR [MARCH & APRIL (Series 2/On-Demand) / JUNE (Series 3) / NOVEMBER & DECEMBER (Series 4)].
Criteria of Award
Candidates must fulfill at least 75% course attendance requirements by AEB to sit for examinations. DIA group diploma – a pass in at least 3 units include HA (core unit) in 1 sitting (or split sitting within 90 days e.g. April to June).
London Chamber of Commerce and Industry (LCCI) Level 3 Group Diploma in Accounting Certificate
The 5 sub-modules include
- Complete Book-keeping(Elementary & Intermediate)
- Higher Accounting
- Cost Accounting
- Management Accounting
- Business Statistics (optional)
1a. Elementary Book-Keeping (1st Level)
The aims of this qualification are to enable candidates to develop an understanding of the basic principles underlying the recording of business transactions, and the ability to maintain the books of, and prepare final accounts, for sole traders. This includes the record of double-entry bookkeeping of simple transactions concerning the purchase and sale of goods and the receipt and payment of cash. This certificate is suitable for candidates who work or wish to work in areas of business that will involve the recording of financial transactions. All businesses require accurate accounting records that are maintained on a regular basis. Consequently, there is a demand for employees who possess these skills.
ASSESSMENT OBJECTIVES (8 SESSIONS | 24 CONTACT HOURS):
- Book of prime entry such as purchases, sales, return inwards, return outwards and the journal.
- Methods of payment and receipt such as cheques, standing orders, credit transfers, direct debits
- Bank reconciliation
- Trade and cash discounts - essential differences and how these are recorded
- Petty-cash book and the imprest system
- The ledger and its various entries
- The distinction between personal, real and nominal accounts
- Capital expenditure and revenue expenditure
- Fixed and current assets
- Adjustment of accruals and pre-payments
- Depreciation - straight line and reducing balance methods
- Provision for bad and doubtful debts
- Opening and closing stock for trading accounting purposes
- Receipts and payment accounts, income and expenditure accounts
- Trading and Profit & Loss accounts
- Balance Sheet
1b. Intermediate Book-Keeping (2nd Level)
This advanced aspects of elementary book-keeping aims to enable candidates to develop an understanding of the basic principles underlying the recording of business transactions, and the ability to prepare and interpret accounts for sole traders, partnerships, non-trading organizations and limited companies. This qualification is suitable for candidates who are working, or are preparing to work in an accounting environment maintaining financial records and preparing accounts. Candidates attempting this qualification should have the knowledge and skills equivalent to the LCCIIQ Level 1 Book-keeping qualification. Candidates who achieve Level 2 Book keeping and Accounts may progress to the LCCIIQ Level 3 Accounting qualification.
ASSESSMENT OBJECTIVES (16 SESSIONS | 48 CONTACT HOURS):
The ledger accounts for:
- Sole trader
- Limited liability companies
- Non-trading organisations
- Preparation of accounts in vertical of horizontal form
Calculation and interpretation of accounting ratios such as ROCE (Return On Capital Employed), profit to sales, current ratio, liquidity ratio, rate of stock turnover and sales to capital employed.
2. Higher Accounting
Candidates are expected to develop: an understanding of the more advanced aspects of Certificate in Book-keeping, Level 1 and Certificate in Book-keeping and Accounts, Level 2; the preparation of accounts for a partnership in relation to alterations in partners interests and the conversion of a partnership into a limited company; the accounting entries for a limited company to record the issue of share capital and the issue and redemption of debentures; how to account for distributable profits and profits prior to incorporation for companies; the preparation of cash flow statements in accordance with FRS 1 (revised); the preparation of a cash budget; the preparation of a budgeted income statement and/or balance sheet; the calculation and interpretation of accounting ratios; the principles of decision making; the interpretation of accounting statements; and accounting standards and concepts.
Syllabus topics include
- Levels 1 and 2 revisited
- Valuation of stocks
- Valuation of fixed assets
- Accounting for groups of companies
- Cash flow statements
- Accounting ratios
- Budgetary control
- Introduction to decision making
- Concepts and accounting framework
Note: Taxation, in all its forms, is excluded from this syllabus.
- Understanding of accounting information deriving from all sources - Manual, Mechanical & Electronics
- Ability to prepare accounting statements and data in accordance with basic accounting conventions and current accounting practice as specified in the Accounting Companies Acts and in the Statements of Standard Accounting Practice which refers to: Disclosure of Accounting Policies, Stocks and Long- Term Contracts, Accounting for Depreciation, Extraordinary items and Prior-Year Adjustment, Statements of Sources and Applications of Funds, Accounting for Research and Development, Grouping Accounting, Earning Per Share
- Ability to use appreciation and analytically interpret Accounting Statements and Data
3. Management Accounting
The aim of this unit is to test the candidates knowledge and understanding of the basic principle involved in short-term cost behaviour, short and long term decision making and short-term profit control, cash management and product cost ascertainment. Candidates are expected to develop: the ability to critically analyse information for both short term and long term decision making; an ability to use management accounting information for the purposes of planning and control of cash and other resources within business organisation and an understanding of factors affecting the planning and control process; an awareness of how product costs can be ascertained using different costing methods; and an understanding of business performance measures, and the relevance and impact of transfer pricing.
Syllabus topics include
- Short term cost behaviour
- Short term decision making
- Short term profit control
- Cash and working capital management
- Long term decision making and control
- Product cost ascertainment
- Transfer pricing and performance evaluation.
- Short-term cost behaviour, Decision making and Profit-control
- Cash Management
- Long Term Decision Making and Control
- Product Cost Ascertainment
- Transfer Processing and Performance Evaluation
- Information Processing
4. Cost Accounting
Candidates are expected to develop: an understanding of advanced aspects of the processing of cost accounting information, including stock control; a detailed understanding of how cost accounting information can be used for the purposes of short-term planning, control and decision making within business organisations; and the ability to apply this understanding in a variety of business settings.
Syllabus topics include
- Materials and stock control
- Costing methods and systems
- Cost-volume-profit(CVP) analysis
- Budgetary planning and control
- Standard costing and variances
- Accounting systems
- The methods, principles and techniques by which both planned and actual costs of operations, processes, departments, products or services are established
- Responsibility for the effective use of resources involving control by variance analysis
- Relevant cost for decision-making - Further aspects of Second-Level Cost Accounting Syllabus; Stock Control; Marginal Costing; Variance Accounting; Presentation of Information to Management
5. Business Statistics
The aim of this unit is to test the candidates ability to apply business statistics to business situations.
The Second Syllabus should be studied in greater detail, together with the following:
- Probability, including conditional probability
- Symmetry and skew of distribution
- The Normal Distribution - The use of tables of normal distribution
- Sampling and Sampling Distribution - Standard error of the sample mean and proportion, simple estimation
- Confidence intervals for the population mean and proportion
- Significance tests using normal and T distribution for one or two samples
- The chi square statistic, contingency tables
- Control charts and elementary statistical quality control
- Correlation - The product moment correlation coefficient, including a significance test linear regression and least squares
|50% - 59%
|60% - 74%
||PASS WITH CREDIT
|75% and above
||PASS WITH DISTINCTION
Expected date of release of Assessment result
Assessment results will be available to the students within 3 months upon completion of the last assessment for that assessment cycle. Appeal (if any) on assessment results must be lodged within 7 days after the release of assessment results.
Fees & Funding
Please enquire below for course fees and financial grants: