IAB Bookkeeping Levels 1 2 and 3

This IAB Bookkeeping Levels 1, 2 and 3 course bundle provides an excellent knowledge base in bookkeeping and accounting, whilst being ideal for students who want to achieve a career in the field. If you've already made a start to life in bookkeeping, this bundle will boost your skills and help you progress in your career. You'll go from learning to prepare reconciliations to examining the complexities of preparing financial statements, with double entries and incomplete records for sole traders, partnerships, and not-for-profit clubs and societies. It is ideal for:

• Students who want to develop their accounting and finance knowledge.
• Those aspiring to work or progress their career in accounting, finance, or bookkeeping.

Future career options:

• Chartered accountant
• Finance manager
• Management accountant
• External auditor
• Forensic accountant
• Stockbroker
• Internal auditor
• Business analyst

Join over [past_students_count] other students who chose to improve their education and boost their employability through distance learning.

Course Content

IAB Level 1 Award in Bookkeeping

Unit 1 Introduction to bookkeeping (T/508/5857)

• Basics of double-entry bookkeeping
• Bookkeeping terms
• Source documents and their purpose
• Basics of VAT
• Purpose of trial balance and petty cash and bank reconciliations

Unit 2 Keep double entry records and prepare trial balance (T/508/5858)

• Using the journal
• Recording transactions in a double-entry bookkeeping system
• Preparing a trial balance

Unit 3 Prepare reconciliations (T/508/5859)

• Reconcile the petty cash balance
• Prepare a bank reconciliation statement

IAB Level 2 Certificate in Bookkeeping

Unit 1 Principles of bookkeeping and VAT

• Basics of bookkeeping and bookkeeping systems
• Terms used by bookkeepers
• Source documents and their purpose
• Sub-divided bookkeeping system
• Basics of the VAT system
• HMRC VAT rules
• VAT control account and VAT return

Unit 2 Financial services and payment methods

• Role of banks and building societies
• How businesses use financial services
• Methods of payment and their features
• Security measures and procedures for the safekeeping of cash

Unit 3 Prepare and check business documents

• Prepare documents to be issued to customers
• Checking documents received from suppliers
• Preparing documents to be issued to suppliers
• Preparing a petty cash voucher

Unit 4 Record transactions in a sub-divided bookkeeping system

• Day books
• Analysed cash book
• Petty cash book
• Journal

Unit 5 Prepare a trial balance and reconciliations

• Trial balance
• Control accounts and reconcile control account balances
• Reconcile the bank current account balance

IAB Level 3 Certificate in Bookkeeping and Accounting

Unit 1 Principles of accounting

• Purpose of accounting concepts and standards
• The qualitative characteristics of financial information
• Accounting for a stock valuation
• Accounting for fixed assets
• Accounting for prepayments and accruals
• Accounting for bad and doubtful debts
• The purpose of a trial balance and a suspense account
• The purpose of financial statements
• The purpose of the extended trial balance
• The principles of accounting for partnerships
• The process of accounting from incomplete records
• The principles of accounting for not for profit organisations

Unit 2 Make accounting adjustments

• Account for a stock valuation
• Account for fixed assets
• Account for prepayments and accruals
• Account for bad and doubtful debts

Unit 3 Prepare financial statements from double-entry records for sole traders and partnerships

• Prepare a trial balance and correct errors
• Prepare financial statements for a sole trader
• Prepare an extended trial balance
• Prepare financial statements for a partnership

Unit 4 Prepare financial statements from incomplete records for sole traders and not for profit organisations

• Calculate capital or accumulated funds from incomplete data
• Construct accounts and a trial balance from incomplete records
• Prepare financial statements from incomplete records