Overview
Suitable for learners wanting an introduction to the process of keeping double entry records, preparing reconciliations and a trial balance.
The qualification is made up of:
1- Online Knowledge Test
2 – Online Assignments
Key information:
25 GLH (Guided Learning Hours)
50 Hours TQT (Total Qualification Time)
Overview
Suitable for learners wanting an introduction to the process of keeping double entry records, preparing reconciliations and a trial balance
The qualification is made up of:
1 – Online Knowledge Test
2 – Online Assignments
Key information:
25 GLH (Guided Learning Hours)
50 hours TQT (Total Qualification Time)
Who is this qualification for?
The Level 1 Award in Bookkeeping qualification is specifically aimed at leaners who wish to begin their studies of bookkeeping and gain entry to a Level 1 qualification within the RQF. The qualification has been designed to appeal to individuals within the following groups:
- Learners starting their studies in the subject of bookkeeping from a point of no previous knowledge or experience.
- Learners employed at a junior level with some limited basic bookkeeping knowledge and skills, who want to formalise their competence by gaining a recognised accredited qualification in bookkeeping.
- Learners returning to study and/or work after a study or career break.
- Learners considering a change in career.
- Learners considering a career as a self-employed practitioner.
- Owners of a small business wanting an introduction to the function of bookkeeping with a view of keeping financial records for their business.
What you’ll study
This qualification is made up of the following units:
Introduction to bookkeeping – T/508/5857
- Understand the basics of double entry bookkeeping
- Understand bookkeeping terms
- Recognise source documents and understand their purpose
- Understand the basics of VAT
- Understand the purpose of the trial balance and petty cash and bank reconciliations
Keep double entry records and prepare a trial balance – A/508/5858
- Use the journal
- Record transactions in a double entry bookkeeping system
- Prepare a trial balance
Prepare reconciliations – F/508/5859
- Reconcile the petty cash balance
- Prepare a bank reconciliation statement
Learning Resources Available
The Level 1 Bookkeeping RQF book covers the entirety of this qualification, and can be bought here
How much will it cost?
Students studying or wanting to study through a training provider, (classroom based or distance learning) should contact potential training providers to get an idea of the total cost for the qualification. As the majority of the training providers will include the IAB registration fees into their own fee.
- Registration onto the qualification
- All IAB assessment fees (excluding re-sits)
- Certification upon successful completion of all assessments
How is it assessed?
This qualification is made up of:
1 – Online Knowledge Test
Online Knowledge tests are a series of independent short answer questions made up of multiple-choice, gap fill, and true or false type questions. They are assessed via IAB Education and are open book. This might be taken in class or at home
2 – Online Assignments
Online Assignments are also assessed via IAB Education and are also open book. These are taken in class or at home and are short case study type questions with several tasks for each case study
Further study opportunities
Upon successful completion of this qualification you could move onto one of the following qualifications:
- Level 1 Award in Computerised Bookkeeping 601/9050/4
- Level 2 Certificate in Bookkeeping 601/9061/9
Affiliated with
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