Introduces the learner to the more advanced processing skills required to make accounting adjustments and prepare financial statements and prepare management reports for a sole trader or partnership to using a computerised accounting system.
The qualification is made up of:
1 – Online Knowledge Test
1 – Examination
Who is this qualification for?
The qualification will also appeal to those learners who already have good practical knowledge and skills and wish to gain an accredited qualification in the subject.
Owners of small businesses may also find the qualification useful as it gives coverage of the wide range of tasks that can be carried out using commercially available accounting software suitable for maintaining accounts for a small business.
What you’ll study
Principles of advanced computerised accounting – J/508/5846
- Understand the purpose of accounting concepts and standards, and recognise the qualitative characteristics of financial information
- Understand the basics of computerised accounting
- Understand terms used in accounting
- Understand the purpose of VAT Accounts and the VAT return
- Understand the process of accounting for a 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
- Understand the purpose of a trial balance and a suspense account
- Understand the purpose of financial statements
- Understand the principles of accounting for partnerships
- Understand the purposes of budgeting
Use a computerised accounting package – D/508/6629
- Set up a computerised accounting system
- Enter business transactions
- Prepare and post journal entries
- Account for a stock valuation
- Account for fixed assets
- Account for prepayments and accruals
- Account for bad and doubtful debts
- Make end of period adjustments
- Amend the chart of accounts and generate reports
How much will it cost?
For self-study students, (those studying without a training provider) The fee would be £105
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:
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 IABOnline and are open book. This might be taken in class or at home
1 – Paper Examination
Paper Examinations these are assessed under examination conditions. There will be a scenario which will be worked through on a computerised accounting. A series of printouts will be generated throughout the examination and at the end. These printouts will then be submitted back to the IAB via the exam centre.
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