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Updated HNC Accounting Framework with Emphasis on Recording Financial Information and Final Accounts

Explore the new HNC Accounting Units with a focus on Recording Financial Information (RFI), Preparing Final Accounts (PFA), Cost Accounting, and more. Detailed content changes, assessment updates, and error tolerance guidelines included.

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Updated HNC Accounting Framework with Emphasis on Recording Financial Information and Final Accounts

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  1. HNC Accounting New Framework

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

  3. Recording Financial Information

  4. 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

  5. Delivery Schedule

  6. Preparing Final Accounts

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

  8. Cost Accounting

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

  10. MAUIT

  11. 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

  12. 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!

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