IAB Level 3 Certificate in Bookkeeping and Accounting

This IAB Bookkeeping and Accounting Level 3 course 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. As briefly mentioned in the course introduction, you will be introduced to the process of making accounting adjustments in the preparation of financial statements. It is ideal for:

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

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

Course Content

RQF Number: 601/9058/9

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