NVQ in Accounting
Build Your Career in Financial Management
Overview
An NVQ in Accounting provides a practical pathway to developing essential skills in financial management, bookkeeping, and accounting principles. This qualification is ideal for those looking to start or advance their career in the financial sector.
NVQ Levels in Accounting
Level 1 – Introduction Certificate in Accounting
The aim of the level 1 qualification is to provide candidates with an introduction to book-keeping practices and
to process source documents that underpin accurate record keeping.
- Basic bookkeeping principles
- Introduction to computerized accounting
- Understanding financial transactions
- Basic costing principles
Level 2 – Foundation Certificate in Accounting
The aim of the level 2 qualification is to further develop the introductory book-keeping practices and processes
studied at level one to enable candidates to adjust ledger accounts to take account of activities at the trial
balance date which affect the production of an accurate trading, profit and loss account and balance sheet.
- Check and correct errors arising from inaccurate/incomplete/missing entries in the ledger and day books
- Provide for depreciation of fixed assets using ledger accounts
- Account for accruals, prepayments, bad debts and provide for doubtful debts
- Prepare individual accounts in purchase and sales ledgers
- Prepare purchase ledger control accounts and sales ledger control accounts
- Complete an extended trial balance
- Basic bookkeeping principles
Level 3 – Advanced Certificate in Accounting
For those with some accounting experience or who have completed Level 2.
- Advanced bookkeeping
- Final accounts preparation
- Indirect tax (VAT)
- Management accounting techniques
Career Progression
With an NVQ in Accounting, you can progress through various roles in the financial sector:
- Accounts Assistant
- Bookkeeper
- Payroll Administrator
- Financial Analyst
- Management Accountant
- Financial Controller
Many learners also use NVQs as a stepping stone to further qualifications, such as those offered by professional bodies like ACCA or CIMA.
Evidence for Your NVQ Portfolio
During your NVQ in Accounting, you’ll need to gather evidence of your competence. This may include:
- Completed financial reports and analyses
- Screenshots of computerized accounting systems you’ve used
- Witness testimonies from supervisors or clients
- Records of financial processes you’ve implemented or improved
- Examples of tax calculations or VAT returns
- Documentation of internal audits or financial controls you’ve managed
Ready to Start Your Accounting NVQ?
Embarking on an NVQ in Accounting can open up numerous career opportunities in the financial sector. Whether you’re just starting out or looking to advance your existing skills, there’s an NVQ level suitable for you.