Accounting & Finance

    Institute of Chartered Accountants of England and Wales
    End-Point Assessment

    Specification: 610/0689/0

    The INSTITUTE-OF-CHARTERED-ACCOUNTANTS-OF-ENGLAND-AND-WALES End-Point Assessment Accounting & Finance specification covers 2 topics with 12 learning objectives (610/0689/0). Use the topic browser below to explore subtopics, exam tips, common mistakes, and key terminology for each area of the course.

    This subject will help you develop key knowledge and skills required for exam success.

    2

    Units

    12

    Learning Outcomes

    10

    Assessment Guidance

    11

    Key Skills

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    Key Features

    • Master key concepts
    • Develop exam technique
    • Apply knowledge effectively

    Common Exam Mistakes

    Pitfalls to avoid in your exams

    • •Confusing debits and credits when recording transactions, particularly for expenses and revenues
    • •Omitting accruals and prepayments when preparing financial statements
    • •Misapplying tax reliefs or allowances, such as mixing personal and business expenses
    • •Failing to maintain professional skepticism when reviewing evidence or explanations
    • •Incorrectly categorizing capital and revenue expenditure
    • •Overlooking the need for authorization and documentation in internal controls
    • •Failing to distinguish between tax avoidance and tax evasion in advisory scenarios
    • •Over-reliance on theoretical knowledge without practical, context-specific tailoring

    Top Examiner Tips

    Expert advice for exam success

    • •Practice double-entry scenarios regularly to build speed and accuracy, using past paper exercises
    • •Always cross-reference tax computations with current HMRC guidelines and use the provided tax tables
    • •Read the scenario carefully to identify ethical issues before answering, and reference the ICAEW Code of Ethics
    • •Use the mnemonic 'SPICED' to remember which side increases with a debit or credit (Sales, Purchases, Income, Capital are credited; Expenses, Assets are debited)
    • •For financial statements, present them in the standard format and ensure notes are cross-referenced
    • •In software-based tasks, save your work frequently and double-check input data before finalizing
    • •Map each piece of portfolio evidence directly to the relevant KSB statements and assessment criteria to ensure full coverage
    • •In the professional discussion, use the STAR technique (Situation, Task, Action, Result) to structure your responses with concrete examples

    Qualification Units

    2 units

    How this qualification is graded

    Vocational qualifications are marked against criteria, not an exam percentage. Each unit is assessed across three bands - build up from Pass by applying your knowledge to realistic workplace scenarios.

    Pass

    Accurately describe and explain the core knowledge for the unit and link it to the given scenario.

    Merit

    Apply and analyse that knowledge in detail, showing why it matters in the workplace context.

    Distinction

    Evaluate and justify decisions, weigh up alternatives and make well-reasoned professional recommendations.

    ICAEW Level 4 end-point assessment Professional accounting or taxation technician - Core Content

    This subtopic encompasses the fundamental knowledge and competencies required for a professional accounting or taxation technician, covering core areas such as double-entry bookkeeping, preparation of financial statements, ethical principles, and basic tax computations. Learners must demonstrate the ability to apply these principles in real-world scenarios, ensuring accuracy, integrity, and compliance with professional standards.

    ICAEW Level 4 end-point assessment Professional accounting or taxation technician

    6 learning outcomes12 guidance points

    ICAEW End-point assessment for the Level 7 Accountancy or taxation professional - Core Content

    The core content of the ICAEW Level 7 End-Point Assessment encompasses the integrated knowledge, skills, and behaviours expected of a chartered accountant or taxation professional. This includes mastery of financial reporting under IFRS, strategic business planning, advanced taxation, audit and assurance, and corporate governance, all underpinned by rigorous ethical standards. The assessment evaluates the ability to apply these competencies in complex, real-world scenarios, demonstrating professional judgment and leadership.

    ICAEW End-point assessment for the Level 7 Accountancy or taxation professional

    6 learning outcomes9 guidance points

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    Institute of Chartered Accountants of England and Wales End-Point Assessment Accounting & Finance