Provides the underpinning knowledge and skills necessary for the purpose of carrying out a range of day-to-day bookkeeping routines and activities using a sub-divided double entry bookkeeping system up to trial balance stage.
The qualification is made up of:
2 – Online Knowledge Tests
2 – Online Assignments
1 – Examination
50 GLH (Guided Learning Hours)
120 hours TQT (Total Qualification Time)
Who is this qualification for?
The qualification will appeal to those learners who already have some practical knowledge and skills and wish to gain an accredited qualification in the subject of bookkeeping.
Learners who are considering a career as a self-employed practitioner will find the course invaluable, as will businesses owners who would like to be actively involved in the keeping of financial records for their business, as it gives in-depth coverage of manual bookkeeping systems used by businesses.
What you’ll study
Principles of bookkeeping and VAT – T/508/5860
- Understand the basics of bookkeeping and bookkeeping systems
- Understand terms used by bookkeepers
- Recognise source documents and understand their purpose
- Understand the use of a sub-divided bookkeeping system
- Understand the basics of the VAT system
- Understand HMRC VAT rules
- Understand the purpose of the VAT control account 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
- Recognise appropriate methods of payment and understand their features
- Understand the need for security measures and procedures for the safe-keeping of cash
Prepare and check business documents – F/508/5862
- Prepare documents to be issued to customers
- Check documents received from suppliers
- Prepare documents to be issued to suppliers
- Prepare a petty cash voucher
Record transactions in a sub-divided bookkeeping system – J/508/5863
- Use day books
- Use an analysed cash book
- Use a petty cash book
- Use a journal
Prepare a trial balance and reconciliations – L/508/5864
- Prepare a trial balance
- Prepare control accounts and reconcile control account balances
- Reconcile the bank current account balance
Learning Resources Available
How much will it cost?
For self-study students, (those studying without a training provider) The fee would be £125
This fee covers the following:
- Registration onto the qualification
- All IAB assessment fees (excluding re-sits)
- Certification upon successful completion of all assessments
- Free IAB student membership for 1 year (click here for a list of student benefits)
If you want to find out more about self study please click here
How is it assessed?
This qualification is made up of:
2 – 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 IABOnline and are open book. This might be taken in class or at home
2 – Online Assignments
Online Assignments are also assessed via IABOnline 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
1 – Online Examination
Online Examinations these are assessed via IABOnline and are taken under examination conditions. They are also made up of a series of independent questions (learners do not have to refer to data and tasks in previous questions when working through the paper). Although each question is independent some questions may have more than one.
Examinations can be taken in any month and on any day (subject to the examination centre). This means that you can move up through the levels quickly as well.
Examinations require a minimum of 5 weeks notice in the UK and 8 weeks for those outside of the UK, before the examination date. This allows us enough time to process the registrations and get the examination papers dispatched
Next steps after passing
- Level 3 Certificate in Bookkeeping and Accounting 601/9058/9
- Apply for professional membership at the grade of Associate