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SQA News 16 June 2022

National 5 Accounting - removal of Last-In-First-Out (LIFO)

To align with industry standards, we are removing the requirement for Last-In-First-Out (LIFO) inventory record cards as part of the National 5 Accounting course. This means that only First-In-First-Out (FIFO) inventory record cards will appear in the inventory record cards topic from session 2022–23 onwards. The National 5 course specification has been re-published to reflect this change and is available on the subject page (under 'Course Specification'). Please ensure that you are using the most up-to-date National 5 Accounting course specification.

We have also removed the requirement for LIFO inventory record cards as part of the SCQF level 5 unit Preparing Management Accounting Information. The unit specification has been re-published and is available on the Accounting Freestanding units page. Unit assessment support packs (UASPs) 1 and 4 will be re-published in August to reflect this change.