Overview
This qualification takes learners through both the manual and computerised aspects of the preparation of management reports and financial statements.
The IAB Level 3 Certificate in Computerised Accounting for Business is made up of:
7 – Paper Knowledge tests
3 – Assignments or Work Based Evidence
Who is this qualification for?
The IAB Level 3 Certificate in Computerised Accounting for Business is suitable for:
- Individuals who already have a good working knowledge of the software, and wish to further their studies of computerised accounting within a working business environment gaining a qualification at Level 3
- Individuals who have good practical knowledge and skills and wish to gain an accredited qualification in the subject.
- Owners of small businesses may also find this qualification useful as it gives coverage of wide range of tasks that can be carried out using Sage software. The course is suitable for those wishing to produce period end financial statements for small businesses.
What you’ll study
The IAB Level 3 Certificate in Computerised Accounting for Business contains the following units:
Principles of double entry bookkeeping – A/601/0698 (level 3 – 2 credits)
- Understand the use of generally accepted accounting concepts and the qualitative characteristics of financial statements
- Understand the principles of double entry bookkeeping
- Understand the purpose and use of stock valuation
- Understand the process of accounting for fixed assets
- Understand the process of accounting for prepayments and accruals
- Understand the process of accounting for bad and doubtful debts
Principles of accounting for not for profit organisations – Y/601/0725 (level 3 – 1 credit)
- Understand terminology relating to not for profit organisations
- Understand the purpose of a receipts and payments account
- Understand the function of financial statements prepared for a not for profit organisation
Fundamentals of incomplete records – A/601/0717 (level 3 – 1 credit)
- Understand single entry bookkeeping
- Understand the process of constructing ledger accounts from incomplete records
Fundamentals of bookkeeping and accounting for partnerships – L/601/0723 (level 3 – 1 credit)
- Understand the partnership structure as a form of business entity
- Understand the legislation relating to partnerships
- Understand specific accounts used in partnership accounting
- Understand the procedures necessary to account for the changes in the structure of a partnership
Principles of preparing financial statements for sole traders – R/601/0707 (level 3 – 1 credit)
- Understand the form and function of the trial balance
- Understand the purpose of the suspense account
- Understand the form and function of the financial statements
- Understand the form and function of the extended trial balance
Principles of VAT – A/505/1094 (level 3 – 2 credits)
- Understand VAT regulations
Principles of cash management – R/600/4938 (level 3 – 2 credits)
- Understand how the external environment impacts on how an organisation manages cash assets
- Be able to make informed decisions regarding the management of cash balances within an organisation
- Understand a range of accounting and other business techniques used to improve the efficiency of cash management procedures within an organisation
- Cash management – L/600/4940 (level 3 – 3 credits)
- Prepare forecasts of income and expenditure for a given accounting period
- Use forecasts to monitor cash flow within the organisation
- Use cash balances effectively
Preparing and completing VAT returns – J/600/4953 (level 3 – 2 credits)
- Complete VAT returns accurately and in a timely manner
- Communicate VAT information
Computerised Accounting Software – L/502/4403 (level 3 – 5 credits)
- Access, enter and edit accounting information
- Process business transactions from source documents
- Develop and interpret management information reports
- Set up a computerised accounting system ready for use
Learning Resources Available
Once the course fees have been paid and the learner registered, they will get a full copy of the latest version of Sage 50 Accounts Professional, which will be time limited for them to use for the duration of their course. This means the learner can work at home and ensures they are up to date with the latest software developments.
The learner will also receive two workbooks that covers the full course. The workbook includes not only the practical work using Sage software, but also the underpinning bookkeeping knowledge to cover the learning required for coverage of the knowledge units. There are an abundance of screen shots from the software, so they can see what processes they should be doing and how that relates to accounting standards.
NB – Students can register for this qualification without requesting the Sage disc and workbooks.
Next Steps After Passing
Upon successful completion of this qualification you could move onto one of the following qualifications:
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