ICB Level 2 and 3 Certificate in Bookkeeping and Accounts - Full Membership MICB

This ICB Bookkeeping and Accounts Level 2 and 3 course bundle provides you with all you need to know about bookkeeping, 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. In the Level 2 course, you will learn to enter transactions, identify and correct errors, produce an initial trial balance, and more. Meanwhile, in the Level 3 course, you will explore how to control the sales and purchases ledgers, as well as the post-year adjustments. 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

ICB Level 2 Certificate in Bookkeeping – Associate Membership AICB

Unit 1 Underpinning knowledge

• Understand the importance of adhering to a code of professional ethics
• Understand the legal differences between the structure of different types of businesses
• Understand the specific accounting requirements for different accounting systems
• Understand the basic accounting concepts
• Understand the importance of legislation that applies to bookkeepers
• Understand the importance of the chart of accounts
• Understand the importance of IT systems in a modern bookkeeping world
• Understand the basic principles involved in double entry bookkeeping including the format of the accounting equation
• Identify the various methods of payment and receipts to and from a bank account

Unit 2 Prepare business documents

• Understand the purpose and range of business documents
• Understand the need to accurately prepare business documents for goods and services supplied
• Understand the need to check business documents received

Unit 3 Accounting for VAT

• Understand the various rates of VAT
• Understand how to correctly account for VAT in a bookkeeping system
• Understand how to account for VAT transactions with customers in, and suppliers from, other countries

Unit 4 Entering transactions

• Understand the purpose of, and making entries into, a bookkeeping system
• Calculate the value of equity
• Understand how to upload and match bank transactions
• Understand the use of control accounts in the system
• Understand the purpose and need to record petty cash
• Post appropriate journal entries into the system

Unit 5 Reconciliation and reporting

• Understand the purpose and use of the trial balance
• Reconcile relevant account balances
• Understand the need to correct errors
• Produce relevant reports

Unit 1 Underpinning knowledge

• Understand the importance of adhering to a code of ethical principles
• Understand when and how to take appropriate action to cope with unethical behaviour
• Understand the legal differences between the structures of various types of businesses
• Understand the main accounting concepts that apply
• Understand the various accounting standards that are applied to the production of year-end accounts
• Understand the different VAT schemes that are available for use
• Understand the importance of being able to clearly communicate relevant information
• Understand the requirements for uploads to HMRC under making tax digital (as and when introduced)

Unit 2 Reconcile accounts and correct errors

• Reconcile debtors and creditors control accounts
• Write off a bad debt
• Correct errors in the accounts

Unit 3 Reconcile and produce a VAT return

• Reconcile the VAT account
• Complete a VAT return

Unit 4 Calculate and post adjustments to the accounts

• Account for the disposal of fixed assets
• Understand the need to allow for, and be able to post, adjustments to the accounts
• Provide for revaluation of assets

Unit 5 Produce draft final accounts for internal management purposes

• Prepare a set of final accounts suitable for internal management purposes
• Calculate and post relevant amounts to appropriate profits as required
• Adjust capital share of partners

Unit 6 Interpretation of financial statements

• Understand the importance of interpreting financial statements for internal management purposes
• Analyse and interpret financial statements
• Prepare a cash budget