Skip to main content

Level 3 Diploma in Computerised Finance for Business (RQF)

Level 3 Diploma in Computerised Finance for Business (RQF)

Level 3 Diploma in Computerised
Finance for Business (RQF)

CFD3

603/1176/9

Skillsfirst Awards
Suite 416
Fort Dunlop
Fort Parkway
Birmingham
B24 9FD

0121 270 5100
www.skillsfirst.co.uk

CFD3 v1.2 07092018 1

Contents Page

Section 1 – Introduction

1.1 What is the regulated qualification framework (RQF) 2
1.2 RQF qualifications 2

Section 2 – Skillsfirst Awards Limited

2.1 Data protection 3
2.2 Equality and accessibility 3
2.3 Enquiries and information sources 3
2.4 Complaints and appeals 4
2.5 Malpractice and maladministration 4

Section 3 – The skills council for the finance sector

3.1 Financial Skills Partnership 4
3.2 Occupational expertise of deliverers, assessors and moderators/internal verifiers 5
3.3 Employer direct model 6
3.4 Continuous professional development 6

Section 4 – Summary of delivery and assessment methods

4.1 Assessment principles 6
4.2 Characteristics of assessment guidance 7
4.3 Types of evidence 7
4.4 Simulation and witness testimony 8
4.5 Recognition of prior learning (RPL) 8

Section 5 – Qualification information

5.1 Qualification aim and design 9

Section 6 – Qualification structure

6.1 Qualification requirements 9
6.2 Total qualification time (TQT) 10
6.3 The available units and their GLH value 10
6.4 Learner entry requirements 11
6.5 Progression opportunities 11

Section 7 – The unit of learning

7.1 Structure of the unit 11
7.2 Group M – mandatory units 12

CFD3 v1.2 07092018 2

1.0 Introduction

1.1 Skillsfirst Awards is an awarding organisation specialising in the provision of vocational

qualifications across a range of occupational areas.

1.2 Skillsfirst Awards recognises the need for industry to have fully trained and qualified staff

– reliably qualified to recognised industry standards.

1.3 The following handbook provides the learning outcomes and assessment strategy for the

delivery of the Level 3 Diploma in Computerised Finance for Business (RQF). The
handbook is a live document and will be updated should there be any incremental
change made.

Centres will be informed electronically when changes are made and it will be the
responsibility of any recognised centre to ensure the most up to date version of the
handbook is used. The document also provides details of the administrative procedures,
requirements and responsibilities that are associated with the delivery of vocational
qualifications.

The handbook is available on the Skillsfirst Awards website www.skillsfirst.co.uk

1.4 This document is copyright but can be copied by any of our recognised centres for the

purpose of assessing learners and may also be copied by learners for their own use.

1.5 All learners should be provided with a copy of the Skillsfirst qualification handbook
together with the Skillsfirst learner guide. This document can be found on our web-site at
www.skillsfirst.co.uk

1.1 What is the Regulated Qualifications Framework (RQF)?

The RQF provides a single, simple system for cataloguing all qualifications regulated by
Ofqual.

Qualifications will be indexed by their ‘level’, type and size. Qualifications within the
framework will have a level (ranging from entry level to level 8) to indicate the level of
difficulty. They will also have a Total Qualification Time (TQT) value to indicate the size of
the qualification which will be either an Award, Certificate or Diploma.

The RQF will also:

 allow Awarding Organisations to design more flexible programmes, suited to the needs

of a wider range of learners and employers
 describe qualifications to employers, providers and learners in a way that is easy to

understand
 allow learners to achieve skills and knowledge at their own pace

1.2 RQF Qualifications

Each qualification has a Total Qualification Time (TQT) value based on the total number of
hours learning required to achieve it. The TQT value reflects the number of supervised
learning hours required to achieve the knowledge and assessment requirements, plus the
length of time a learner would need to take to achieve the skills and capabilities to be
deemed competent. All RQF qualifications are subject to an evaluation process to determine
their fitness-for-purpose.

CFD3 v1.2 07092018 3

2.0 Skillsfirst Awards

2.1 Data protection

Skillsfirst Awards takes the protection of data seriously and to this end has developed a data
protection statement outlining how Skillsfirst and our centres, comply with the current
legislation on data protection (GDPR). It is important for centres to read our statement and
ensure that our requirements are put in place. It is particularly important that centres make
learners aware that data is shared with Skillsfirst Awards. Our policy statement on this and
data requirements can be found in our centre handbook on our website www.skillsfirst.co.uk

2.2 Equality and accessibility

Equality and accessibility

Skillsfirst is committed to giving everyone who wants to gain one of our qualifications an
equal opportunity of achieving it in line with current UK legislation and EU directives
including the Equality Act 2010 (Amendment) Order 2012 and to ensure this occurs, has in
place a policy on equality and accessibility which can be found on our website
www.skillsfirst.co.uk and within our centre handbook.

Skillsfirst will ensure that centres use a equality and accessibility policy that works together
with ours and that they maintain an effective appeals procedure which along with the
equality and accessibility policy, will be monitored by the external verifier. We expect centres
to tell learners how to find and use their own equality and accessibility and appeals
procedures.

Access to assessment

Skillsfirst Awards is committed to guaranteeing all learners are treated fairly and equally and
to ensure this occurs, has in place a policy on reasonable adjustments and special
considerations. This policy states clearly what centres can and in some cases must, put in
place to assist learners who may have particular requirements.

We expect centres to tell learners how to find and use their own reasonable adjustments and
special considerations policy and will monitor implementation through the external
verification process. This policy can be accessed at www.skillsfirst.co.uk and within our
centre handbook. Further advice on this policy and its application can be obtained from our
customer services team at customerservices@skillsfirst.co.uk

2.3 Enquiries and information sources

Skillsfirst aims to provide accurate information in a variety of formats and media. Recognised
centres are encouraged to make enquiries to the customer services team, or seek
clarification from our website. Learners wishing to enquire about qualifications, aspects of
qualifications or quality assurance policies and procedures are encouraged, in the first
instance, to seek information from the recognised centre or their tutor/assessor. Where a
satisfactory answer is unavailable, learners are encouraged to seek clarification from our
website, or from the Skillsfirst customer services team.

As a guide, the majority of frequently requested information is available on our website or on
request via the electronic helpline listed below.

Website: www.skillsfirst.co.uk
email: customerservices@skillsfirst.co.uk

CFD3 v1.2 07092018 4

Tel: 0121 270 5100
Fax: 0121 747 4102

In writing to:

Customer Services
Skillsfirst Awards Limited
Suite 416
Fort Dunlop
Fort Parkway
Birmingham
B24 9FD

2.4 Complaints and appeals

Complaints

Skillsfirst Awards will endeavour at all times to satisfy our customer’s needs and ensure a
quality service. There may be times when our centres do not feel we have met these needs.
Should they wish, centres may complain in writing to the Skillsfirst Awards customer services
manager. We will attempt to resolve all complaints within the published timescales and will
record and review all complaints as part of our ongoing customer service commitment.

Appeals

Skillsfirst Awards aims to ensure that at all times its decisions are fair, consistent and based
on valid judgements. However, it is recognised that there may be occasions when a centre
or a learner may wish to question a decision made. Skillsfirst Awards therefore has an
appeals policy and process which clearly indicates the rights of the centre and the learner to
appeal against a range of decisions taken by Skillsfirst.

The Skillsfirst Awards appeals policy and process can be accessed on our website
www.skillsfirst.co.uk and within our centre handbook. Centres are required to have a
documented policy and procedure which allows learners to question decisions made by the
centre. The final stage of such a procedure may be to appeal to the Skillsfirst Awards
external verifier. This policy would form part of the original centre recognition process and its
implementation will be monitored by the external verifier.

2.5 Malpractice and maladministration

Skillsfirst Awards has a responsibility to ensure that malpractice and maladministration is
addressed effectively and to publish procedures to centres for dealing with malpractice on
the part of learners, centre staff and any others involved in providing the qualification. To
meet this requirement, Skillsfirst Awards has a malpractice policy and process, the details of
which can be accessed on our website www.skillsfirst.co.uk

3.0 The skills council for the finance sector

3.1 Financial Skills Partnership (part of Skills for Justice)

The Level 3 Diploma in Computerised Finance for Business (RQF) is based on the units
approved by the Financial Skills Partnership who are the skills council for the Financial
sector. Their contact details are:

CFD3 v1.2 07092018 5

1st Floor, Unit C
Meadowcourt Business Park
4 Hayland Street
Sheffield
S9 1BY

Phone 0114 284 1930
E: info@sfjuk.com

This handbook provides details of the assessment strategy, which centres will need to apply
in order to assess and quality assure the Level 3 Diploma in Computerised Finance for
Business (RQF) and includes the:

 occupational expertise of those who assess performance, and moderate and verify

assessments
 continuous professional development
 summary of assessment methods

3.2 Occupational expertise of deliverers, assessors, and moderators/internal verifiers

Staff delivering this qualification must be able to demonstrate that they meet the following
occupational expertise requirements. They should:

 be occupationally competent to make assessment judgements about the broad use of

computerised payroll and accounting techniques either in the workplace or in Realistic
Working Environments (RWE); and occupationally competent to make assessment
judgements about the quality of assessment and the assessment process

 be occupationally knowledgeable in the area(s) for which they are delivering training.
This knowledge must be at least to the same level as the training delivered.

 have credible experience of providing training.

Assessors and internal verifiers must hold the relevant and equivalent qualifications (such as
D32, D33, A1, A2 or Level 3 TAQA for assessors and D34, V1 or Level 4 TAQA for internal
verifiers), or be working towards an appropriate TAQA or equivalent qualification. Centre
staff should have verifiable relevant experience and current knowledge of the occupational
working area at, or above, the level they are assessing or verifying. This experience and
knowledge must be of sufficient depth to be effective and reliable when judging learner
competence or verifying assessment processes and decisions. This could be verified by:

 curriculum vitae and references
 possession of a relevant qualification
 records of continuous professional development
 corporate membership of a relevant professional institution

Centre staff may undertake more than one role, e.g. tutor and assessor or internal verifier,
but must never internally verify their own assessments.

3.3 Employer direct model

Where employers opt for an ‘employer direct’ model, the qualification requirements for
assessors and internal verifiers may be waived.

CFD3 v1.2 07092018 6

The employer direct’ model is where colleagues, supervisors and/or managers in the
workplace are involved in the assessment process. Under this model, the employer, with the
agreement of Skillsfirst may choose between:

 achieving the appropriate approved qualifications for assessment/verification

or
 demonstrating that their (the employer’s) training and development activity undertaken to

prepare, validate and review these assessment roles, maps 100% to the National
Occupational Standards which these qualifications are based on. The mapping process
must be agreed by Skillsfirst as providing the equivalent level of rigour and robustness
as achievement of the approved assessment/verification qualification.

Each application to use the employer direct model will be considered on an individual
organisation and qualification basis and agreed by the qualification regulators, including the
sector skills council. Prospective organisations must be able to confirm that their in-house
practices conform to the requirements of the standards in association with Skillsfirst.

3.4 Continuous professional development

Centres are responsible for ensuring that assessors and IVs plan and maintain their CPD.

Centres are expected to support their assessors and IVs in ensuring that their knowledge
remains current of the occupational area and of best practice in delivery, mentoring, training,
assessment and verification, and that it takes account of any national or legislative
developments.

Centres may have generic criteria and personnel specifications in addition to the above.

4.0 Summary of assessment methods

For this qualification, learners will be required to provide a portfolio of evidence for each unit.

4.1 Assessment principles

Units will be achieved through the acquisition of evidence by the learner and submission to
their assessor. Units may be assessed through a number of different sources and forms,
which must meet the requirements of assessment criteria.

 Assessment should normally be at the learner’s workplace, but where the opportunity to

assess across the range of standards is unavailable other comparable working
environments may be used, following agreement from the External Verifier.

 A holistic approach towards the collection of evidence should be encouraged, assessing
activities generated by the whole work experience rather than focusing on specific tasks.
e.g. If the learner communicates with a customer whilst engaged in sales activities these
can be assessed against both sales and customer service elements.

 Assessors can only assess in their acknowledged area of occupational competence.

 Assessors and IVs will be registered with their centre and be accountable to the

organisation for their assessment practice.

CFD3 v1.2 07092018 7

 Health and safety of customers/clients and employees must be maintained throughout
the assessment process and if any person carrying out assessment or verification
activities does not feel that there is due regard to health and safety then that person
should refuse to continue with the activity(ies) until satisfied that due regard to health and
safety is being taken.

4.2 Characteristics of assessment

There are two types of assessment for the Level 3 Diploma in Computerised Finance for
Business (RQF). These are skills and knowledge.

To achieve the skills units, you are advised to work through the textbook with the support of
your tutor and complete the self-test activities at the end of each of the lessons. Once you
feel you are ready, you can then ask your tutor/assessor to provide you with the final skills
test for this unit.

The remaining units are assessed using an electronically-marked questionnaire and can be
taken at the end of each section of learning.

You may produce evidence from a range of sources which should be recorded in some form.
A record of evidence will confirm to your tutor/assessor their confidence in your competence
and breadth and depth of knowledge and understanding in being able to competently meet
the functional requirements of all the units.

Your tutor/assessor will need to be assured that you can:

 meet all the learning outcomes of a unit
 pass all the assessment criteria of a unit

Your tutor/assessor may request additional evidence if they are not satisfied with the
evidence you present. If this occurs, it may need to be agreed in partnership with you and
your tutor/assessor.

4.3 Recognition of prior learning (RPL)

RPL recognises how the contribution of a learner’s previous experience could contribute to a
qualification. Should any opportunities for RPL be identified, it is important that a complete
process of recognising prior experience and learning is undertaken, by ensuring that:

 it covers relevant or appropriate experience for previous activities, as well as accredited

learning and qualifications
 it is incorporated into the assessment planning, with details of how this will take place
 mapping of prior learning to the national occupational standards to identify gaps is

documented and auditable
 assessment methods or processes for recognising prior experience and learning, are

documented and made available to the external verifier
 the audit trail covers the whole process and methodology of RPL
 the authenticity and currency of presented evidence is established by the assessor

In considering the appropriateness of any single piece of evidence, the following should be
considered:

CFD3 v1.2 07092018 8

 Content – the degree to which the content of any previous accredited learning meets the
requirements of the national occupational standards against which it is being presented
as evidence.

 Performance and knowledge – the degree to which the previous learning covered both
performance and knowledge. Some learning will only have offered and tested the latter,
in which case RPL will only recognise the meeting of knowledge requirements.
Performance will require further assessment. Although unlikely, the reverse
(performance tested but not knowledge) could be true in which case knowledge and
understanding would need further assessment.

 Relevance of context – the degree to which the context of the learning gained and
assessed, relates to the current context of learner’ work roles. If the context was
different, assessors will need to satisfy themselves of learners’ ability to transfer the
learning gained into their current setting.

 Currency – how recently the learning was gained. Learners would need to demonstrate
current knowledge and understanding of areas such as legislation, policy and practice
etc., which may have changes since the previous learning programmes were
undertaken.

 Authenticity – how the ownership of the evidence is established to ensure it was
generated by the learner.

5.0 Qualification information

5.1 Qualification aim and design

This qualification has been designed to meet both employer and individual demand to
acquire a range of essential skills, knowledge and understanding about computerised
finance. These include the theory and use of computerised accounting and payroll software,
VAT, standard and advanced budgeting, accounting concepts and the professional values,
basic business legislation and responsibilities of a finance professional.

The primary target group for this qualification would be full-time Financial Technicians and
Managers who wanted a combined accounting and payroll qualification. Others it would
appeal to would be self-employed business owners, Prison Governors to use as part of their
're-settlement initiative' and graduates or people looking for CPD utilising advanced learner
loans (ALLs).

6.0 Qualification information

6.1 Qualification requirements

Qual no. Level Qualification title Number of units

CFD3 3 Level 3 Diploma in Computerised

Finance for Business (RQF)
12 units

Learners must achieve all 12 units from Group M to achieve the qualification.

6.2 Total qualification time (TQT)

TQT is formulated by looking at the total Notional Hours of Learning for the qualification.

The TQT for the Level 3 Diploma in Computerised Finance for Business (RQF) is 380.

CFD3 v1.2 07092018 9

The minimum guided learning hours (GLH) are 270
6.3 List of available units and their GLH value

The list below gives the unit titles, their level and the GLH value of each unit.

Group M - mandatory units

RQF
unit no.

Skillsfirst
unit no.

Level Unit title GLH
value

A/505/1094 CAB6 3 Principles of VAT

15

F/600/8757 CAB7 2 Professional values and basic
business legislation

4

F/601/3649 CAB8 2 Setting up accounting software to
manage accounting information

15

A/601/3651 CAB9 2 Process routine payments and
receipts using a computerised system

20

F/505/1274 CAB18 2 Fundamentals of employment
legislation for payroll

8

L/505/1276 CAB21 2 Computerised payroll theory

8

Y/505/1278 CAB24 2 Computerised payroll skills

25

M/507/7532 CAB26 3 Responsibilities of a finance
professional

25

T/507/7533 CAB27 3 Principles of accounting concepts

48

D/507/7557 CAB33 3 Prepare and complete a VAT return

47

D/507/7560 CAB34 3 Standard and advanced budgeting
using a computerised accounting
package

14

K/507/7562 CAB35 3 Using computerised accounting
software

41

6.4 Learner entry requirements

Formal requirements

There are no formal entry requirements for learners undertaking this qualification; however,
centres must ensure that learners have the potential and opportunity to gain evidence for the
qualification in the work place.

Age restrictions

There are age limits attached to learners undertaking this qualification as this qualification is
not approved for learners under the age of 16.

CFD3 v1.2 07092018 10

6.5 Progression opportunities

On completion of the Level 3 Diploma in Computerised Finance for Business (RQF),
learners may progress into employment or onto the following Skillsfirst qualifications:

 Level 3 Diploma in Management (RQF)
 Level 3 Diploma in Business Administration (RQF)

or similar higher level qualifications.

7.0 The Units of Learning

7.1 Structure of the units

The units which make up these qualifications are written in a standard format and comprise
of:

 Skillsfirst reference number
 unit title
 level
 unit aim
 learning outcomes
 guided learning hours
 endorsement of the unit
 information on assessment
 learning outcomes and assessment criteria

CFD3 v1.2 07092018 11

7.2 Group M - mandatory units

CFD3 v1.2 07092018 12

CAB6

Principles of VAT

CFD3 v1.2 07092018 13

CAB6 Principles of VAT

Level: 3

Unit aims
The aim of this unit is to provide the learner with the opportunity to gain an understanding of
the principles of the VAT registration, classification and the production of reports.

Learning outcomes
There is one learning outcome to this unit. The learner will be able to:

1. Understand current VAT regulations

Guided learning hours
It is recommended that 15 hours should be allocated for this unit. This may be on a full-time
or part-time basis.

Endorsement of the unit by a sector or other appropriate body
This unit is endorsed by Financial Skills Partnership, the skills council for the Financial sector

Assessment information
Learners will be required to provide a portfolio of evidence indicating that they have met all
the unit outcomes and assessment criteria.

Assessment guidance
Classification for VAT purposes

 standard supplies
 exempt supplies
 zero rated supplies
 imports
 exports

Range of VAT schemes

 annual accounting
 cash accounting
 flat rate scheme
 standard scheme

CFD3 v1.2 07092018 14

CAB6 Principles of VAT
Learning outcomes and assessment criteria

Outcome 1 Understand current VAT regulations

The learner can:
1 identify sources of information on VAT
2 explain the relationship between the organisation and Her Majesty’s Revenue and

Customs (HMRC)
3 explain the VAT registration requirements
4 identify the information that must be included on business documentation of VAT

registered businesses
5 recognise different types of inputs and outputs
6 identify how different types of supply are classified for VAT purposes
7 explain the requirements and the frequency of reporting for a range of VAT schemes
8 recognise the implications and penalties for the organisation resulting from failure to

abide by VAT regulations including late submission of VAT returns

CFD3 v1.2 07092018 15

CAB7

Professional values and
basic business legislation

CFD3 v1.2 07092018 16

CAB7 Professional values and basic business legislation

Level: 2

Unit aims
The aim of this unit is to provide the learner with the opportunity to gain an understanding of
the importance of integrity and professionalism, the fundamental principles of money
laundering legislation and the relevant legislation which relates to the workplace

Learning outcomes
There are three learning outcomes to this unit. The learner will be able to:

1. Understand the importance of integrity and professionalism
2. Understand that legislation exists relating to the workplace
3. Know the fundamental principles of money laundering legislation

Guided learning hours
It is recommended that 4 hours should be allocated for this unit. This may be on a full-time or
part-time basis.

Endorsement of the unit by a sector or other appropriate body
This unit is endorsed by Financial Skills Partnership, the skills council for the Financial sector

Assessment information
Learners will be required to provide a portfolio of evidence indicating that they have met all
the unit outcomes and assessment criteria.

Assessment guidance
Values important to a book-keeper

 confidentiality
 security of data
 competency
 duty of care
 integrity

Principles of data protection

 adequate, relevant and not excessive
 not kept longer than necessary
 not transferred to countries without adequate data protection laws

CFD3 v1.2 07092018 17

CAB7 Professional values and basic business legislation
Learning outcomes and assessment criteria

Outcome 1 Understand the importance of integrity and professionalism

The learner can:
1 explain why professional values are important to a book-keeper
2 explain why it is important for a book-keeper to comply with the code of ethics of a

professional body

Outcome 2 Understand that legislation exists relating to the workplace

The learner can:
1 explain the importance of maintaining security over computerised and manual

information held on individuals or businesses
2 identify and describe the principles of data protection
3 describe the main duties and responsibilities of employers and employees under health

and safety legislation

Outcome 3 Know the fundamental principles of money laundering legislation

The learner can:
1 define the term ‘money laundering’
2 give examples of offences under the money laundering regulations
3 outline the risks for book-keepers associated with the money laundering legislation
4 identify internal procedures that businesses can introduce to lessen risks
5 outline the requirements to report suspicions of money laundering to the appropriate

authorities

CFD3 v1.2 07092018 18

CAB8

Setting up accounting software
to manage accounting information

CFD3 v1.2 07092018 19

CAB8 Setting up accounting software to manage accounting information

Level: 2

Unit aims
The aim of this unit is to enable the learner to enter financial data using a computerised
accounting package and to use this package to record and process a range of financial
information to produce financial reports.

Learning outcomes
There are eight learning outcomes to this unit. The learner will be able to:

1. Be able to enter and/or restore data using a computerised accounting package at the

start of the financial year
2. Be able to set up assets, liabilities, capital and budgets
3. Be able to record customer and supplier invoices and credit notes
4. Be able to process receipts from customers
5. Be able to process payments to suppliers
6. Be able to process non-credit payments and receipts
7. Be able to process Journals
8. Be able to produce reports using selection criteria and parameters

Guided learning hours
It is recommended that 15 hours should be allocated for this unit. This may be on a full-time
or part-time basis.

Endorsement of the unit by a sector or other appropriate body
This unit is endorsed by Financial Skills Partnership, the skills council for the Financial sector

Assessment information
Learners will be required to provide a portfolio of evidence indicating that they have met all
the unit outcomes and assessment criteria.

Assessment guidance
Data

 company name and address
 financial year
 program date
 customer details
 supplier details
 nominal accounts
 VAT scheme

Monies received by cheque, cash and automatic transfer to be allocated to the correct
account

 part payment
 payments made on account
 payments taking account of credit notes
 payments taking account of previous payments on account
 settlement discount

CFD3 v1.2 07092018 20

Range of transactions to be used to process journals

 record the purchase of new fixed assets
 make simple corrections to nominal ledger accounts
 record goods taken by the owner for own use where tax (e.g. VAT) is not involved
 record assets introduced by the owner
 process bad debts from non-credit customers

Selection criteria and parameters to be used for routine reports

 customer and supplier address lists
 customer and supplier histories/activity
 aged debtors and aged creditors analysis
 remittance advice notes
 customer statements
 budget reports
 nominal account activity
 audit trail
 trial balance

CFD3 v1.2 07092018 21

CAB8 Setting up accounting software to manage accounting information
Learning outcomes and assessment criteria

Outcome 1 Be able to enter and/or restore data using a computerised accounting

package at the start of the financial year

The learner can:
1 enter and/or restore data accurately

Outcome 2 Be able to set up assets, liabilities, capital and budgets

The learner can:
1 enter nominal account opening balances
2 enter budgets

Outcome 3 Be able to record customer and supplier invoices and credit notes

The learner can:
1 enter invoices and credit notes into the correct customer and supplier accounts, using

the data and appropriate reference details

Outcome 4 Be able to process receipts from customers

The learner can:
1 allocate monies received by cheque, cash and automatic transfer to the correct

customer account
2 enter the correct reference and date
3 identify amounts owed by customers
4 process bad debts, contra entries and dishonoured cheques

Outcome 5 Be able to process payments to suppliers

The learner can:
1 allocate monies paid by cheque, cash and automatic transfer to the correct supplier

account
2 enter the correct reference and date
3 identify amounts due for payment to suppliers
4 process contra entries

Outcome 6 Be able to process non-credit payments and receipts

The learner can:
1 process cash and cheque payments and receipts for expenditure and income made on

a non-credit basis
2 calculate the tax element (e.g. VAT) where the gross amount and the rate of tax is

given, for both payments and receipts

Outcome 7 Be able to process journals

The learner can:
1 process journals for a range of transactions

CFD3 v1.2 07092018 22

Outcome 8 Be able to produce reports using selection criteria and parameters

The learner can:
1 produce a variety of routine reports using correct selection criteria and parameters

CFD3 v1.2 07092018 23

CFD3 v1.2 07092018 24

CAB9

Process routine payments and receipts
using a computerised system

CFD3 v1.2 07092018 25

CAB9 Process routine payments and receipts using a computerised system

Level: 2

Unit aims
The aim of this unit is to enable the learner to enter and/or restore financial data using a
computerised accounting package and to use this package to record and carry out a range
of financial transactions and processes.

Learning outcomes
There are seven learning outcomes to this unit. The learner will be able to:

1. Be able to enter and/or restore data using a computerised accounting package
2. Be able to process petty cash payments and receipts
3. Be able to process non-credit payments and receipts
4. Be able to correct transaction errors
5. Be able to process salary journals
6. Be able to carry out bank reconciliation
7. Be able to produce reports using selection criteria and parameters

Guided learning hours
It is recommended that 20 hours should be allocated for this unit. This may be on a full-time
or part-time basis.

Endorsement of the unit by a sector or other appropriate body
This unit is endorsed by Financial Skills Partnership, the skills council for the Financial sector

Assessment information
Learners will be required to provide a portfolio of evidence indicating that they have met all
the unit outcomes and assessment criteria.

Assessment guidance
Data to be entered and/or restored:

 company name and address
 financial year
 program date
 nominal accounts
 VAT scheme

Recurring payments and receipts:

 direct debits
 standing orders
 credit transfers

Range of nominal ledger transactions:

 changes of account
 references
 amounts
 tax codes

CFD3 v1.2 07092018 26

Wages and salary information:

 gross wages and salaries
 net wages and salaries
 statutory deductions owed to HM Revenue & Customs
 payments to the Collector of Taxes
 non-statutory deductions

Routine reports:

 bank receipts and payments day books
 cash and petty cash activity reports
 nominal account histories/activity reports
 bank statement
 audit trail
 trial balance

CFD3 v1.2 07092018 27

CAB9 Process routine payments and receipts using a computerised system
Learning outcomes and assessment criteria

Outcome 1 Be able to enter and/or restore data using a computerised accounting

package

The learner can:
1 enter and/or restore data accurately

Outcome 2 Be able to process petty cash payments and receipts

The learner can:
1 introduce or restore and/or increase a petty cash float
2 enter petty cash voucher and receipt details ensuring that they are coded to the correct

nominal code
3 calculate the tax element where the gross amount and rate of tax is given, for both

payments and receipts

Outcome 3 Be able to process non-credit payments and receipts

The learner can:
1 process cash and cheque payments and receipts for expenditure and income made on

a non-credit basis
2 process recurring payments and receipts
3 calculate the tax amount where the gross amount and the rate of tax is given, for both

payments and receipts

Outcome 4 Be able to correct transaction errors

The learner can:
1 make simple corrections to nominal ledger transactions

Outcome 5 Be able to process salary journals

The learner can:
1 enter details from wages and salary information provided

Outcome 6 Be able to carry out bank reconciliation

The learner can:
1 match individual items on the bank statement against the computer bank record
2 update the computer bank record with additional items from the bank statement

Outcome 7 Be able to produce reports using selection criteria and parameters

The learner can:
1 produce a variety of routine reports using correct selection criteria and parameters

CFD3 v1.2 07092018 28

CAB18

Fundamentals of employment legislation
for payroll

CFD3 v1.2 07092018 29

CAB18 Fundamentals of employment legislation for payroll

Level: 2

Unit aims
The aim of this unit is to enable the learner gain the underpinning knowledge and
understanding of what payroll information needs to be prepared and kept by law, data
protection legislation in relation to payroll and the general principles of employment rights
legislation

Learning outcomes
There are three learning outcomes to this unit. The learner will be able to:

1. Know what payroll information is to be prepared and kept by law
2. Understand data protection legislation in relation to payroll
3. Know the general principles of employment rights legislation

Guided learning hours
It is recommended that 8 hours should be allocated for this unit. This may be on a full-time or
part-time basis.

Endorsement of the unit by a sector or other appropriate body
This unit is endorsed by Financial Skills Partnership, the skills council for the Financial sector

Assessment information
Learners will be required to provide a portfolio of evidence indicating that they have met all
the unit outcomes and assessment criteria.

Assessment guidance
Locations of relevant payroll information:

 contracts of employment
 employer
 finance department

Employment rights legislation in relation to employees:

 pay advice
 national minimum wage
 holiday entitlement
 sickness

CFD3 v1.2 07092018 30

CAB18 Fundamentals of employment legislation for payroll
Learning outcomes and assessment criteria

Outcome 1 Know what payroll information is to be prepared and kept by law

The learner can:
1 identify a payroll document which contains personal employee information
2 identify a legal employment or payroll document to be kept by the employer
3 state how long payroll documents should be kept by the employer

Outcome 2 Understand data protection legislation in relation to payroll

The learner can:
1 identify what constitutes reliable and useable personal data, data security and security

practice in relation to payroll
2 identify where you would find relevant payroll information
3 outline employer responsibilities in relation to payroll, under data protection legislation

and accepted security practice

Outcome 3 Know the general principles of employment rights legislation

The learner can:
1 give an example of employment rights legislation in relation to employees
2 identify how you would find relevant guidance on employment rights legislation
3 outline the main responsibilities of the employer in relation to employment rights

legislation

CFD3 v1.2 07092018 31

CAB21

Computerised payroll theory

CFD3 v1.2 07092018 32

CAB21 Computerised payroll theory

Level: 2

Unit aims
The aim of this unit is to enable the learner gain the underpinning knowledge and
understanding of potential health and safety and security risks, the organisational
procedures for processing payroll in a computerised environment and the statutory
requirements for submitting information. It will also enable the learner to understand how to
maintain the security of data within a computerised environment.

Learning outcomes
There are four learning outcomes to this unit. The learner will be able to:

1. Understand potential health and safety and security risks
2. Maintain the security of data within a computerised environment
3. Understand organisational procedures for processing payroll in a computerised

environment
4. Understand the statutory requirements for submitting information

Guided learning hours
It is recommended that 8 hours should be allocated for this unit. This may be on a full-time or
part-time basis.

Endorsement of the unit by a sector or other appropriate body
This unit is endorsed by Financial Skills Partnership, the skills council for the Financial sector

Assessment information
Learners will be required to provide a portfolio of evidence indicating that they have met all
the unit outcomes and assessment criteria.

Assessment guidance
Risks to data:

 from individuals, such as incompetence, theft, viruses or unauthorised access
 hardware and software
 the internet
 disasters and unforeseen events

CFD3 v1.2 07092018 33

CAB21 Computerised payroll theory
Learning outcomes and assessment criteria

Outcome 1 Understand potential health and safety and security risks

The learner can:
1 identify a range of risks to data
2 explain the need to carry out visual safety checks before starting up the computer

system, and be responsible for that environment
3 identify ways to minimise security risks
4 explain the health and safety risks in using it systems
5 explain the health and safety responsibilities of the employer in the context of a

computerised workplace

Outcome 2 Maintain the security of data within a computerised environment

The learner can:
1 describe the procedures for maintaining the security and confidentiality of personal data

and of all other information
2 explain the importance of storage of data and the back-up procedures of all other

information

Outcome 3 Understand organisational procedures for processing payroll in a

computerised environment

The learner can:
1 explain the importance of ensuring that the software is updated in line with any changes

issued by the tax authority or software company
2 explain the advantages and disadvantages of positive payrolls when using a

computerised system
3 explain the advantages and disadvantages of negative payrolls when using a

computerised system
4 explain the organisation’s procedures and timelines for initiating, making and monitoring

payments when using a computerised system

Outcome 4 Understand the statutory requirements for submitting information

The learner can:
1 outline the importance of the processing date
2 identify the minimum employee data needed for processing the payroll
3 outline the procedures for submitting payroll data at each pay period
4 outline the procedures for reclaiming reimbursements of statutory additions to pay

where applicable
5 explain why a submission may fail and how successful submission can be achieved

CFD3 v1.2 07092018 34

CAB24

Computerised payroll skills

CFD3 v1.2 07092018 35

CAB24 Computerised payroll skills

Level: 2

Unit aims
The aim of this unit is to enable the learner to be able to process information on starters,
leavers and changes to current employees, process payroll accurately on a pay period basis
and back up and update systems when required.

Learning outcomes
There are three learning outcomes to this unit. The learner will be able to:

1. Be able to process information on starters, leavers and changes to current employees
2. Be able to process payroll accurately on a pay period basis
3. Be able to back up and update systems when required

Guided learning hours
It is recommended that 25 hours should be allocated for this unit. This may be on a full-time
or part-time basis.

Endorsement of the unit by a sector or other appropriate body
This unit is endorsed by Financial Skills Partnership, the skills council for the Financial sector

Assessment information
Learners will be required to provide a portfolio of evidence indicating that they have met all
the unit outcomes and assessment criteria.

Assessment guidance
PAYE, NIC parameters and rates, and statutory payments:

 tax codes
 national insurance rates
 attachment of earnings
 non-statutory deductions
 pay rates
 overtime rates
 advanced holiday pay
 net payments

Authorised data:

 pay
 overtime
 bonuses
 expenses
 pre-tax and post-tax voluntary deductions

CFD3 v1.2 07092018 36

CAB24 Computerised payroll skills
Learning outcomes and assessment criteria

Outcome 1 Be able to process information on starters, leavers and changes to

current employees

The learner can:
1 set up and maintain company information
2 create a record for a new employee, producing reports as necessary
3 complete the records for a leaver producing reports as necessary
4 update records for all PAYE, NIC parameters and rates, and statutory payments in

accordance with instructions

Outcome 2 Be able to process payroll accurately on a pay period basis

The learner can:
1 update all employee records prior to the payroll being run
2 input all the necessary authorised data
3 run the payroll, in accordance with organisational timescales, checking results conform

to expected limits
4 produce reports to include payslips and payment summaries and ensure they are

accurate and complete
5 run internal period end returns, with required report runs, in accordance with all relevant

timescales

Outcome 3 Be able to back up and update systems when required

The learner can:
1 make a permanent back-up and store this safely according to organisational guidelines
2 restore previous pay period data from a back-up

CFD3 v1.2 07092018 37

CAB26

Responsibilities of a
finance professional

CFD3 v1.2 07092018 38

CAB26 Responsibilities of a finance professional

Level: 3

Unit aims
The aim of this unit is to enable the learner to understand the ethical and legal
responsibilities of a finance professional.

Learning outcomes
There are four learning outcomes to this unit. The learner will be able to:

1. Understand the importance of integrity and professionalism
2. Understand the principles of workplace legislation
3. Understand the principles of legislation relating to money laundering
4. Understand the ethical responsibility of the finance professional in promoting

sustainability

Guided learning hours
It is recommended that 25 hours should be allocated for this unit. This may be on a full-time
or part-time basis.

Endorsement of the unit by a sector or other appropriate body
This unit is endorsed by Financial Skills Partnership, the skills council for the Financial sector

Assessment information
Learners will be required to provide a portfolio of evidence indicating that they have met all
the unit outcomes and assessment criteria.

Assessment guidance
Values must include:

 confidentiality
 security of data
 competency
 duty of care
 integrity
 ethics

Data must include:

 computerised
 written

Principles of data protection must include:

 adequate, relevant and not excessive
 data retention periods
 not transferred to countries without adequate data protection laws

CFD3 v1.2 07092018 39

Offences may include:

 concealing
 arrangements
 acquisition, use and possession
 failure to disclose

CFD3 v1.2 07092018 40

CAB26 Responsibilities of a finance professional
Learning outcomes and assessment criteria

Outcome 1 Understand the importance of integrity and professionalism

The learner can:
1 explain how ethical values impact on the role of a finance professional

Outcome 2 Understand the principles of workplace legislation

The learner can:
1 explain the importance of maintaining security of data held on individuals or businesses
2 identify the principles of data protection.
3 describe the main duties and responsibilities of employers under health and safety

legislation
4 describe the main duties and responsibilities of employees under health and safety

legislation

Outcome 3 Understand the principles of legislation relating to money laundering

The learner can:
1 define the term ‘money laundering’
2 describe offences under the money laundering regulations
3 describe the risks associated with money laundering legislation on the role of a

bookkeeper
4 identify internal procedures employed to reduce risk
5 describe the legal requirements of an organisation to report suspicions of money

laundering

Outcome 4 Understand the ethical responsibility of the finance professional in

promoting sustainability

1 explain the importance of an ethical approach to sustainability
2 outline the responsibilities of a finance professional in upholding the principles of

sustainability

CFD3 v1.2 07092018 41

CAB27

Principles of accounting concepts

CFD3 v1.2 07092018 42

CAB27 Principles of accounting concepts

Level: 3

Unit aims
The aim of this unit is to enable the learner to understand the concepts of accounting used in
the preparation of financial statements and to understand the principles behind them.

Learning outcomes
There are six learning outcomes to this unit. The learner will be able to:

1. Understand the accounting concepts and the qualitative characteristics used in the

preparation and presentation of financial statements
2. Understand the principles of double entry bookkeeping
3. Understand the purpose and use of stock valuation
4. Understand the process of accounting for fixed assets
5. Understand the process of accounting for prepayments and accruals
6. Understand the process of accounting for bad and doubtful debts

Guided learning hours
It is recommended that 48 hours should be allocated for this unit. This may be on a full-time
or part-time basis.

Endorsement of the unit by a sector or other appropriate body
This unit is endorsed by Financial Skills Partnership, the skills council for the Financial sector

Assessment information
Learners will be required to provide a portfolio of evidence indicating that they have met all
the unit outcomes and assessment criteria.

Assessment guidance
Accounting concepts must include:

 realisation
 objectivity
 materiality

Qualitative characteristics must include:

 relevance
 reliability
 ease of understanding
 comparability

 going concern
 accruals/matching
 prudence
 consistency
 dual aspect

CFD3 v1.2 07092018 43

Elements include:

 assets (what it owns)
 liabilities (what it owes to others)
 owner's equity (the difference between assets and liabilities)

Accounting equation is Assets = Liabilities + Owners Equity

Types of ledgers may include:

 main ledger
 subsidiary ledgers
 cash book
 books of prime entry

Methods used to calculate depreciation may include:

 straight line
 diminishing balance

Methods may include:

 FIFO
 LIFO
 weighted average AVCO

SSAP 9 is the Statement of Standard Accounting No 9 which gives guidance on the
accounting treatment of stocks and long term contracts.

CFD3 v1.2 07092018 44

CAB27 Principles of accounting concepts
Learning outcomes and assessment criteria

Outcome 1 Understand the accounting concepts and the qualitative characteristics

used in the preparation and presentation of financial statements

The learner can:
1 describe the accounting concepts which are used in the preparation and presentation of

financial statements
2 explain how the accounting concepts are used in the preparation and presentation of

financial statements
3 explain the importance of qualitative characteristics used in the preparation and

presentation of financial statements

Outcome 2 Understand the principles of double entry bookkeeping

The learner can:
1 define the elements within the ‘accounting equation’
2 explain how the elements within the ‘accounting’ equation are inter-related
3 explain how the dual aspect concept underpins the process of double entry

bookkeeping
4 describe the types of ledgers which are used in recording financial transactions

Outcome 3 Understand the purpose and use of stock valuation

The learner can:
1 explain the purpose of valuing stock at the end of the accounting period
2 describe the accounting concept on which a stock adjustment is based
3 describe the methods used for valuing stock at cost price
4 explain the principle of valuing stock as outlined in the SSAP 9 guidance
5 explain the accounting concept on which a stock valuation is based in accordance with

SSAP 9 requirements

Outcome 4 Understand the process of accounting for fixed assets

The learner can:
1 compare the difference between ‘capital’ and ‘revenue’ expenditure
2 explain the requirement for authorising capital expenditure
3 describe the purpose of the ‘fixed asset register’ and the information it should contain
4 explain the methods used to calculate depreciation
5 explain the main accounting concepts that relate to the depreciation of fixed assets

Outcome 5 Understand the process of accounting for prepayments and accruals

The learner can:
1 explain the importance of making adjustments for prepayments and accruals in respect

of revenue income and expenditure.
2 explain the main accounting concept on which prepayment and accruals adjustments

are based

CFD3 v1.2 07092018 45

Outcome 6 Understand the process of accounting for bad and doubtful debts

The learner can:
1 describe the difference between a bad debt and a provision for doubtful debts
2 explain the accounting concept on which a bad debt write off and a provision for

doubtful debts adjustment is based
3 explain how a bad debt write off and a provision for doubtful debts adjustment is used in

the preparation of financial statements

CFD3 v1.2 07092018 46

CAB33

Prepare and complete
a VAT return

CFD3 v1.2 07092018 47

CAB33 Prepare and complete a VAT return

Level: 3

Unit aims
The aim of this unit is to enable the learner to understand the concepts of the VAT
legislation, the requirements and penalties, inputs and outputs and apply this knowledge to
complete a VAT return.

Learning outcomes
There are five learning outcomes to this unit. The learner will be able to:

1. Understand VAT requirements of an organisation
2. Understand inputs and outputs in relation to VAT
3. Understand the requirements, frequency and penalties relating to VAT schemes
4. Be able to complete a VAT return
5. Understand the implications of VAT payments and legislation for the organisation

Guided learning hours
It is recommended that 47 hours should be allocated for this unit. This may be on a full-time
or part-time basis.

Endorsement of the unit by a sector or other appropriate body
This unit is endorsed by Financial Skills Partnership, the skills council for the Financial sector

Assessment information
Learners will be required to provide a portfolio of evidence indicating that they have met all
the unit outcomes and assessment criteria.

Assessment guidance
Types of supply may include:

 standard supplies
 exempt supplies
 zero rated supplies
 imports
 exports

VAT schemes must include:

 annual accounting
 cash accounting
 flat rate scheme
 standard scheme

Failure to abide by VAT regulations may include:

 fraudulent reporting
 including late submissions of VAT returns

CFD3 v1.2 07092018 48

Inputs and outputs may include:

 standard supplies
 exempt supplies
 zero rated supplies
 imports
 exports

CFD3 v1.2 07092018 49

CAB33 Prepare and complete a VAT return
Learning outcomes and assessment criteria

Outcome 1 Understand VAT requirements of an organisation

The learner can:
1 explain the VAT registration requirements of an organisation
2 explain the relationship between an organisation and Her Majesty’s Revenue and

Customs (HMRC)
3 identify the information that must be included on business documentation of a VAT

registered business

Outcome 2 Understand inputs and outputs in relation to VAT

The learner can:
1 recognise different types of inputs and outputs
2 identify how different types of supply are classified for VAT purposes

Outcome 3 Understand the requirements, frequency and penalties relating to VAT

schemes

The learner can:
1 explain the requirements and the frequency of reporting of VAT schemes.
2 outline the implications and penalties for an organisation resulting from failure to abide

by VAT regulations.

Outcome 4 Be able to complete a VAT return

The learner can:
1 extract financial data for a specific period from the accounting system.
2 calculate the inputs and outputs for a specific period
3 calculate the VAT due to, or from the tax authority
4 make adjustments and declarations for any errors or omissions identified in previous

VAT periods
5 submit a completed VAT return within the statutory time limits
6 submit any associated payments with the completed VAT return

Outcome 5 Understand the implications of VAT payments and legislation for the

organisation

The learner can:
1 explain the impact that VAT payments may have on the organisation’s cash flow and

financial forecasts
2 explain the impact that any changes in VAT legislation, including the VAT rate, would

have on the organisation’s recording systems

CFD3 v1.2 07092018 50

CAB34

Standard and advanced budgeting
using a computerised accounting package

CFD3 v1.2 07092018 51

CAB34 Standard and advanced budgeting using a computerised accounting

package

Level: 3

Unit aims
The aim of this unit is to enable the learner to understand the concepts of standard and
advanced budgeting using an accounting software package and apply this understanding to
produce advanced budget reports from a computerised accounting package.

Learning outcomes
There are four learning outcomes to this unit. The learner will be able to:

1. Understand the use of ‘standard budgeting’ techniques using a computerised

accounting package
2. Be able to produce ‘standard budget’ reports from a computerised accounting package
3. Understand the use of ‘advanced budgeting’ techniques using a computerised

accounting package
4. Be able to produce advanced budget reports from a computerised accounting package

Guided learning hours
It is recommended that 14 hours should be allocated for this unit. This may be on a full-time
or part-time basis.

Endorsement of the unit by a sector or other appropriate body
This unit is endorsed by Financial Skills Partnership, the skills council for the Financial sector

Assessment information
Learners will be required to provide a portfolio of evidence indicating that they have met all
the unit outcomes and assessment criteria.

Assessment guidance
‘Standard budget’ reports should:

 give monthly comparisons
 give a year to date comparison
 show budget variances

The ratio report should show percentage of sales per individual nominal codes within the
chart of accounts

Setting new budgets for the next financial year must include:

 setting budgets using existing values
 use of percentage increase
 use of percentage decrease
 use of copy values
 use of incremental or uniform settings

CFD3 v1.2 07092018 52

Process changes in budget figures must include:

 basing budgets on current year budgets
 basing budgets on forecasts
 using percentage increase or decrease

Advanced departmental reports could include:

 advanced profit and loss report, by chart of accounts, by periods, years and department
 monthly profit and loss by department (advanced budget)

CFD3 v1.2 07092018 53

CAB34 Standard and advanced budgeting using a computerised accounting
package

Learning outcomes and assessment criteria

Outcome 1 Understand the use of ‘standard budgeting’ techniques using a

computerised accounting package

The learner can:
1 explain the use of nominal code budgeting
2 describe how to set the computerised accounting package to allow ‘standard budgeting’

Outcome 2 Be able to produce ‘standard budget’ reports from a computerised

accounting package

The learner can:
1 process monthly budgets to specified nominal codes.
2 compare monthly budgets to actual performance.
3 produce a ‘standard budget’ report using a computerised accounting package
4 produce a ratio report using a computerised accounting package

Outcome 3 Understand the use of ‘advanced budgeting’ techniques using a

computerised accounting package

The learner can:
1 explain the use of nominal code advanced budgeting.
2 explain the use of department overview advanced budgeting
3 explain the use of department in depth advanced budgeting
4 describe how to set the computerised accounting package to allow ‘advanced

budgeting’

Outcome 4 Be able to produce advanced budget reports from a computerised

accounting package

The learner can:
1 process budget information for current year and forecast year.
2 produce an ‘advanced budget’ report using nominal codes.
3 set new budgets for the next financial year using advance budgeting techniques
4 process changes in budget figures at year end
5 produce advanced departmental reports

CFD3 v1.2 07092018 54

CAB35

Using Computerised
Accounting Software

CFD3 v1.2 07092018 55

CAB35 Using Computerised Accounting Software

Level: 3

Unit aims
The aim of this unit is to enable the learner to understand the structure and requirements of
processing accounting data using a computerised accounting package for various types of
business organisations and apply this knowledge to produce advanced budget reports.

Learning outcomes
There are six learning outcomes to this unit. The learner will be able to:

1. Be able to set up master data using a computerised accounting software package
2. Be able to process accounting transactions on a computerised accounting software

package
3. Be able to process adjustments on a computerised accounting software package
4. Be able to process period end routines on a computerised accounting software

package
5. Be able to process VAT returns using a computerised accounting software package.
6. Be able to produce and analyse accounting reports to assist the financial management

of an organisation

Guided learning hours
It is recommended that 41 hours should be allocated for this unit. This may be on a full-time
or part-time basis.

Endorsement of the unit by a sector or other appropriate body
This unit is endorsed by Financial Skills Partnership, the skills council for the Financial sector

Assessment information
Learners will be required to provide a portfolio of evidence indicating that they have met all
the unit outcomes and assessment criteria.

Assessment guidance
Types of companies should include:

 sole trader
 partnership
 not for profit

VAT schemes could include:

 standard
 cash accounting
 flat rate

Records should include:
 customer records
 supplier records
 nominal records
 bank records

CFD3 v1.2 07092018 56

Ledgers could include:

 nominal (general) ledger
 sales (debtors) ledger
 purchase (creditors) ledger

Accounting transactions must include:

For customers:
 invoices
 credit notes
 calculation and reconciliation of batch totals
 allocation of payments
 returned and cancelled cheques
 payments involving discounts
 opening balances
 disputed items

For suppliers:
 invoices
 credit notes
 calculation and reconciliation of batch totals
 allocation of payments
 payments involving discounts
 opening balances
 disputed items

Record keeping systems could include:

 journal
 suspense account

Month-end routine must include:

 recurring entries
 written off bad debts
 depreciation of fixed assets
 prepayments and accruals
 a trial balance

Year-end routine must include:

 recurring entries
 provision for bad debts
 small balance write offs
 depreciation of fixed assets
 prepayments and accruals adjustments
 stock adjustments
 the brought forward trial balance

CFD3 v1.2 07092018 57

Inputs and outputs may include:

 standard supplies
 exempt supplies
 zero rated supplies
 imports
 exports

Accounting reports must include:

 sales ledger (debtors) reports
 purchase ledger (creditors) reports
 nominal (general) ledger reports
 bank account and cash account reports
 an audit trail report
 a trial balance report
 a profit and loss account report.
 a balance sheet report.

CFD3 v1.2 07092018 58

CAB35 Using Computerised Accounting Software
Learning outcomes and assessment criteria

Outcome 1 Be able to set up master data using a computerised accounting

software package

The learner can:
1 set up different types of companies and VAT schemes
2 create a chart of accounts to meet the requirements of different types of companies
3 create records to support the activities of different types of companies

Outcome 2 Be able to process accounting transactions on a computerised

accounting software package

The learner can:
1 carry out the processing of information in a range of ledgers
2 carry out the processing of accounting transactions for customers and suppliers using

record keeping systems

Outcome 3 Be able to process adjustments on a computerised accounting software

package

The learner can:
1 process contracts between sales (debtors) ledger accounts and purchase (creditors)

ledger accounts
2 process entries involving the purchase of fixed assets and write off/disposal of fixed

assets
3 process entries involving depreciation of fixed assets
4 calculate and process the profit or loss on fixed asset disposals

Outcome 4 Be able to process period end routines on a computerised accounting

software package

The learner can:
1 process month-end routine
2 process year-end routine

Outcome 5 Be able to process VAT returns using a computerised accounting

software package

The learner can:
1 explain how to set up VAT Registration on the Government Gateway
2 process a VAT Return using calculated inputs and outputs for a specific period
3 check, reconcile and archive a VAT Return
4 print a VAT report for a specific period

Outcome 6 Be able to produce and analyse accounting reports to assist the

financial management of an organisation

The learner can:
1 produce accounting reports which assist the financial management of an organisation
2 use spreadsheet software to export a trial balance
3 use accounting and ratio reports to make financial management decisions

CFD3 v1.2 07092018 59

Skillsfirst Awards Limited
Suite 416
Fort Dunlop
Fort Parkway
Birmingham
B24 9FD

Tel - 0121 270 5100
Fax - 0121 747 4102
Website – www.skillsfirst.co.uk

CFD3 v1.2 07092018 60

  • CFD3
  • CFD3 Level 3 Diploma in Computerised Finance for Business (RQF) v1.2 07092018.pdf

Level 3 Diploma in Computerised Finance for Business (RQF)

London, UK
United Kingdom
Advanced Apprenticeship

Published on 26 May 2021

Share this job now