Overview
Suitable for learners wanting an understanding of financial record keeping using Sage accounting software and the fundamentals of a double-entry bookkeeping system
The qualification is made up of:
1- Online Knowledge Test
2 – Assignment.
Key information:
104 GLH (Guided Learning Hours)
228 hours TQT (Total Qualification Time)
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Suitable for learners wanting an understanding of financial record keeping using Sage accounting software and the fundamentals of a double-entry bookkeeping system
The qualification is made up of:
3 – Online Knowledge Tests
1 – Assignment
Key information:
104 GLH (Guided Learning Hours)
228 hours TQT (Total Qualification Time)
Who is this qualification for?
The IAB Level 2 Certificate in Computerised Accounting for Business (RQF) qualification is aimed at individuals who wish to further their studies of computerised accounting within a working business environment and gain a Level 2 RQF qualification from a point of some previous knowledge. It could also be used by those learners who have some practical knowledge and skills and wish to verify their competence by gaining an accredited qualification in the subject of computerised accounting.
Owners of small businesses may also find the qualification useful as it gives coverage of the basic use of Sage software suitable for the preparation of accounts for a small or medium sized business.
What you’ll study
This qualification is made up of the following units:
Principles of computerised accounting, ethics and VAT – A/616/7356
- Understand the need for bookkeepers to act ethically
- Understand the need to maintain a healthy and safe working environment
- Understand the requirements of the money laundering regulations
- Understand the basics of computerised accounting system
- Understand terms used in accounting
- Recognise source documents and understand their purpose
- Understand the basics of the VAT system
- Understand HMRC VAT rules
- Understand the purpose of VAT accounts and the VAT return
Financial services and payment methods – A/508/5861
- Understand the role of banks and building societies
- Understand how businesses use financial services
- Identify appropriate methods of payment and understand their features
- Understand the need for security measures and procedures for the safe-keeping of cash
Basic principles of costing – L/616/7359
- Understand the function of cost accounting
- Recognise the component parts of a cost recording system
Use a computerised accounting system – R/508/6627
- Set up a computerised accounting system
- Generate and use source documents
- Account for cash sales and sundry income
- Process customer receipts and refunds
- Process supplier payments and refunds
- Process payments through the bank current account
- Process petty cash transactions
- Reconcile the balance on the bank current account
- Prepare and post journal entries
- Generate reports
Learning Resources Available
This qualification comes with the following resources:
- 1 study textbook covering the knowledge side of the qualification
- 1 study textbook covering the skills side of the qualification
- 180 day access to Sage 50 Software (suitable for Windows operating systems)
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.
This fee covers the following:
- Registration onto the qualification
- All IAB assessment fees (excluding re-sits)
- Certification upon successful completion of all assessments
- Learning resources listed above
How is it assessed?
This qualification is made up of:
3 – Online Knowledge Tests
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 Online and are open book. This might be taken in class or at home
1 – Assignment
Assignments 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
Next Steps After Passing
Upon successful completion of this qualification you could move onto one of the following qualifications:
- Level 3 Certificate in Computerised Accounting for Business 603/2737/6
- Level 3 Certificate in Bookkeeping and Accounting 601/9058/9
- Level 3 Certificate in Computerised Bookkeeping and Accounting 601/9055/3
- Apply for professional membership at the grade of Associate
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