Accounting - National 5

Vale of Leven Academy

Financial accounting

Candidates develop skills, knowledge and understanding to prepare, interpret and analyse financial accounting information by using the relevant accounting concepts and techniques. This information is used by stakeholders to assess their organisation’s current financial position.

Management accounting

Candidates develop skills, knowledge and understanding of internal accounting information, and are able to prepare this using a range of basic accounting techniques. This information is used by management when making decisions about the future planning and control of their business.

Question paper 130 marks

The question paper gives candidates the opportunity to demonstrate:

• preparing and presenting a range of accounting statements
• selecting accounting information to determine business revenues, costs and profits
• evaluating business success on the basis of accounting information
• preparing, interpreting and analysing accounting information
• using accounting techniques to facilitate decision-making
• applying knowledge and understanding of fundamental accounting concepts and theories

The question paper has a total mark allocation of 130 marks. This is 72% of the overall marks for the course assessment. Approximately 10% (13 marks) of the paper will assess knowledge and understanding of accounting theory. It has two sections.

Section 1 is worth 70 marks and contains two 35-mark questions. Section 2 is worth 60 marks and contains four 15-mark questions.

Candidates have 2 hours to complete the question paper.

Assignment 50 marks

The assignment gives candidates the opportunity to demonstrate their ability to:

• prepare and present a range of straightforward accounting statements
• select straightforward accounting information to determine business revenues, costs and profits
• use ICT to produce and communicate straightforward accounting information in a range of contexts
• prepare a range of accounting information
• use accounting techniques, in familiar contexts, to facilitate decision-making

The assignment has a total mark allocation of 50 marks. This is 28% of the overall marks for the course assessment. It samples from both the financial and management accounting areas of study. All tasks are computer-based and completed using a spreadsheet application.

The assignment is set on an annual basis. It is a closed book assessment and is conducted under a high degree of supervision and control and is marked externally by the SQA. The assignment must be carried out in one 2 hour block.