Course code: OSC1343
Award level: 3
What You Need to Know
- Successfully completing this package will allow you to apply to become an ICB Full Member.
- On completion of this course and relevant examinations, you will be awarded with an ICB Level 2 Certificate in Bookkeeping and the ICB Level 3 Certificate in Bookkeeping and Accounts
- ICB is the largest awarding body for bookkeeping and nationally recognised for its qualifications.
- You will have one year to complete your course.
- Distance learning means we do all the groundwork and deliver your materials to you by post.
- Your personal tutor will accompany you throughout your course and provide any support you need via email.
Why You Should Choose Beancounters
The course is one thing, the course provider is another.
Studying with an award-winning college will give you the credibility you need to make your CV stand out from the competition.
So, if becoming a bookkeeper is your life passion then this is the course for you.
We want to do everything to help you succeed, which is why we also throw in some added extras to help you along the way:
- FREE SAGE 50 software
- FREE CV re-writing service on completion of your course
- Super tutor support
Topic 1 - Underpinning Knowledge
- Understand the importance of adhering to a code of professional ethics
- Understand the legal differences between the structure of different types of businesses
- Understand the specific accounting requirements for different accounting systems
- Understand the basic accounting concepts
- Understand the importance of legislation that applies to bookkeepers
- Understand the importance of the Chart of Accounts
- Understand the importance of IT systems in a modern bookkeeping world
- Understand the basic principles involved in double entry bookkeeping including the format of the accounting equation
- Identify the various methods of payment and receipts to and from a bank account
Topic 2 - Prepare Business Documents
- Understand the purpose and range of business documents
- Understand the need to accurately prepare business documents for goods and services supplied
- Understand the need to check business documents received
Topic 3 - Accounting for VAT
- Understand the various rates of VAT
- Understand how to correctly account for VAT in a bookkeeping system
- Understand how to account for VAT transactions with customers in, and suppliers from, other countries
Topic 4 - Entering transactions
- Understand the purpose of, and making entries into, a bookkeeping system
- Calculate the value of equity
- Understand how to upload and match bank transactions
- Understand the use of control accounts in the system
- Understand the purpose and need to record petty cash
- Post appropriate journal entries into the system
Topic 5 - Reconciliation and Reporting
- Understand the purpose and use of the trial balance
- Reconcile relevant account balances
- Understand the need to correct errors
- Produce relevant reports
Topic 1 - Underpinning knowledge
- Understand the importance of adhering to a code of ethical principles
- Understand when and how to take appropriate action to cope with unethical behaviour
- Understand the legal differences between the structures of various types of businesses
- Understand the main accounting concepts that apply
- Understand the various Accounting Standards that are applied to the production of year end accounts
- Understand the different VAT schemes that are available for use
- Understand the importance of being able to clearly communicate relevant information
- Understand the requirements for uploads to HMRC under Making Tax Digital (as and when introduced)
Topic 2 - Reconcile Accounts and Correct Errors
- Reconcile debtors and creditors control accounts
- Write off a bad debt
- Correct errors in the accounts
Topic 3 - Reconcile and Produce a VAT return
- Reconcile the VAT account
- Complete a VAT return
Topic 4 - Calculate and Post Adjustments to the Accounts
- Account for the disposal of fixed assets
- Understand the need to allow for, and be able to post, adjustments to the accounts
- Provide for revaluation of assets
Topic 5 - Produce draft final accounts for internal management purposes
- Prepare a set of final accounts suitable for internal management purposes
- Calculate and post relevant amounts to appropriate profits as required
- Adjust capital share of partners
Topic 6 - Interpretation of financial statements
- Understand the importance of interpreting financial statements for internal management purposes
- Analyse and interpret financial statements
- Prepare a cash budget
- This course is assessed through 7 online tests and an examination
- Each test must be passed in order to gain the complete qualification.
- The examination must be sat in an approved ICB centre.
- If you choose not to sit the tests, you will be awarded a certificate of completion only.
You will need a basic understanding of numeracy and access to a computer or laptop with internet connection and storage in order to download the free SAGE software!
Your computer must run on Windows 7 or higher as the SAGE software will not run on Windows XP or any Apple Macintosh computer.
- Comprehensive study guide
- ICB 1-year Annual Subscription and Registration fee worth £80.00 (it can take up to 6 weeks to process the registration)
- Dedicated personal tutor support by email
- Dedicated student support
- Assignment marking and feedback
- Ballpoint pen and highlighter
- Student study planner
- Student notebook
- Document wallet
- FREE Sage 50 Accounts software (available as a download only)
- FREE NUS Extra card worth £12.00
- FREE CV writing service
If you want to go all the way and complete the examinations, there will be a small fee to be paid to ICB.