ICB Level III Certificate in Bookkeeping & Accounts

Course Highlights

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  • Online Studying - No need to attend college!
  • Flexible - to accommodate your busy lifestyle
  • Interactive - plenty of tutor support
  • Affordability - Competitive prices and options to spread your payments over up to 12 months
  • Quality - ICB accredited qualification
  • Detailed course information here

Course Price: VAT exempt Including Certification


Course Details

Overview

The Level III Certificate in Bookkeeping and Accounts covers the preparation of ledger balances, control accounts and reconciliations, adjustments and preparation of final accounts for non-incorporated businesses or organisations.

On completion of this level of study a candidate will be able to:

  • Understand the following areas of underpinning knowledge:
  1. The importance of adhering to a set of ethical principles
  2. How and when to take action to cope with unethical behaviour
  3. The concepts of business entity, going concern, historical cost, consistency, prudence and accruals
  4. The legal requirements for forming a partnership
  5. Different ways of processing VAT for EU and non-EU transactions
  6. Alternative VAT systems e.g. VAT margin scheme
  • Prepare a bank reconciliation statement
  • Understand the purpose and use of control accounts as a checking mechanism
  • Account for VAT and prepare a VAT return
  • Prepare a ledger account to record the disposal of a fixed asset and to calculate the profit or loss on disposal
  • Calculate adjustments to the accounts including:
  1. Opening and closing stock
  2. Depreciation of fixed assets
  3. Accruals and pre-payments
  4. Provision for doubtful debts
  • Prepare the final accounts for a non-incorporated business including processing of adjustments for opening and closing stock, depreciation, accruals, prepayments, provision for doubtful debts in the following areas:
  1. Sole trader
  2. Partnership
  3. Not-for-Profit OrganisationTh

Assessment and Grading

The testing of knowledge and skills for the qualification will comprise three online assessments, all of which are taken in the candidate’s home or place of work plus one assessment taken at an external ICB centre. Note: the assessment may also test elements of the Level II Certificate in Bookkeeping.

Entry Requirements – This course is open to candidates of 16 years and over, and there are no barriers on the grounds of sex, race, creed or academic attainment in learning.  Before commencing the study at this level the candidate should have achieved ICB Level II Certificate in Bookkeeping or its equivalent with another awarding body.

Occupational Role: Self Employed Bookkeeper/Employed Bookkeeper

On completion of this qualification candidates will be able to carry out the role of an employed or self-employed bookkeeper, be able to reconcile bank statements with the ledgers, produce a VAT return, control the sales and purchases ledgers, post year-end adjustments and produce the final accounts for a sole trader, partnership and not-for-profit organisation in both a manual and a computerised system.

The full qualification will be graded at Distinction with Honours, Distinction, Merit or Pass

All tests and the examination must be successfully achieved to gain the full qualification.

Each assessment will generate a separate accreditation notification. The home or work place based assessments will be graded as follows:

Distinction 95 -100%

Merit 90 – 94%

Pass 85 – 89%

Fail 0 – 84%

The assessment taken at an external ICB centre will be graded as follows:

Distinction 90 -100%

Merit 80 – 89%

Pass 70 – 79%

Fail 0 – 69%

Once all tests and the examination have been successfully completed a final certificate can be applied for which will be graded at Distinction with Honours, Distinction, Merit or Pass. Unit results will be aggregated. To achieve the relevant grade in the full qualification, the following aggregate marks must be achieved:

Distinction with Honours 390 marks and above

Distinction 375 – 389 marks

Merit 350 – 374 marks

Pass 325 – 349 marks

Level of Membership

Successful achievement at the full qualification will lead to the offer to upgrade to Associate Member of ICB and the award of the designatory letters AICB.

Completion

Depending on the candidate, it is anticipated that you will be able to complete this within 6 to 9 months. You are required to complete this qualification within a maximum of 12 months.

 


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