2. HNC Accounting
New Framework

3. HNC Accounting Units Recording Financial Information (RFI)
Preparing Final Accounts (PFA)
Cost Accounting
MAUIT

4. Recording Financial Information
DE5D 34
F7JV 34
1 Record business transactions into a double entry book-keeping system, extract a trial balance and prepare a VAT return.
1 Record financial transactions in books of original entry
2 Record financial transactions in a double entry book-keeping system and extract a trial balance
3 Complete a VAT Return
2 Incorporate control mechanisms into the book-keeping system.
4 Incorporate control mechanisms into a book-keeping system

5. RFI Outcome 1 separated into 3 Books of Original Entry
Ledgers and Trial Balance
VAT Return
One month only
To separate or not to separate Outcome 1
Control Accounts removed from Outcome 4 (2)
Time issue

6. Delivery Schedule Phase 1 Phase 2 Phase 3 RFI Graded Unit 1 PFA
Cost Accounting
MAUIT

7. Preparing Final Accounts
DE5C 34
F7JT 34
1. prepare final accounts for a partnership and a limited company (for internal use) trading as either a trader or manufacturer
1 Prepare final accounts for business organisations
2. prepare final accounts for a sole trader from incomplete records.
2 Prepare final accounts, for a sole trader, from incomplete records
3. prepare a cash flow statement for a limited company.
3 Prepare a cash flow statement for a limited company
4. analyse the final accounts of a limited company using appropriate accounting ratios.
4 Analyse the final accounts of a limited company using accounting ratios

8. PFA
No change in content
Outcomes 3 and 4 can be combined

9. Cost Accounting DE5F 34 F7JR 34 1. Classify and code costs.
2. Account for and evaluate the effect on profit of material costs
1 Account for material costs
3. Account for labour costs.
2 Account for labour costs
4. Account for overhead costs in a traditional costing system
3 Apportion and allocate overhead costs
5. Determine product costs from various accounting methods
4 Account for product costs
(includes coding)
6. Record transactions in a cost accounting system
5 Record transactions in a cost accounting system

10. Cost Accounting Removal of coding as a distinct Outcome
Now included as part of Outcome 4
Coding list included
‘more deliverable’

11. MAUIT DE9G 34 F7JS 34 1. Prepare a master budget.
1 Prepare budget statements
2. Prepare a basic budgetary control report and a variance analysis.
2 Prepare a basic budgetary control report and a variance analysis
3. Use break-even analysis to show the effect on profits of changing prices.
3 Use break-even analysis for decision making
4. Prepare marginal and absorption costing statements and compare both methods.
4 Prepare profit statements using marginal and absorption costing methods

12. MAUIT Exemplar 110 pages Inclusion of xl sheets
Useful for lecturers delivering for first time
Assessment not changed
Error tolerance harder for students than 70% pass mark

13. Error Tolerance Number of tolerated error given for each Outcome
Remediation or Re-sit?
Remediation if just over threshold
Re-sit ‘rule of thumb’
if more than double the threshold limit!