Understanding Standards: Nominee Training Event Accounting National 5 and Higher RGB colours for text Purple = R204 G153 B209 & Dark Blue =R0 G51 B102

Key messages from 2015-2016 Marking of theory questions continues to be an area of concern. Some centres still not expecting enough from candidates. Internal Verification requires to be more rigorous – many occasions where errors made by original marker are not being picked up by verifier. Decision for each Assessment Standard should be clearly marked on candidate evidence. Expectation that centres submit complete tasks, not computational element only. Where centres submit computational evidence there is a

Aims of the day To support Nominees in their understanding of national standards and the verification process by: reviewing candidate evidence discussing this evidence and associated assessment standards with colleagues compiling a Verification Feedback form To update Nominees with regards to changes to National 5: assessment requirements treatment of cash discount in invoices

Workshop 1 – Accounting (Higher) Preparing Financial Accounting Information Review evidence for this unit for Candidates 1-4 Use NQ Unit/Added Value Unit Verification Worksheet to record comments Determine outcome of each assessment standard and the unit as a whole for each candidate

Workshop 2 – Providing feedback to centres Using evidence from Workshop 1, compile Verification Feedback form which would be issued to this centre Discuss feedback

Workshop 3 – National 5 updates and changes Introduction of thresholds Preparing Financial Accounting Information – 6 out of 8 assessment standards must be met to achieve this unit. Preparing Management Accounting Information – 5 out of 6 assessment standards must be met to achieve this unit. Analysing Accounting Information – 4 out of 5 assessment standards must be met to achieve this unit.

Workshop 3 – National 5 updates and changes Calculation of Cash Discount As a result in changes to VAT regulations, business must now issue Invoices based on the assumption Cash Discount will not be taken up. For purposes of National 5 Accounting scenarios, businesses will send out two invoices, one showing calculations if no Cash Discount claimed and one showing calculations where Cash Discount is claimed. Candidates will be required to compile the invoice showing calculations where Cash Discount is claimed. Cash Discount will now appear in the body of the Invoice.

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