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

Open Study College
Course summary
799 GBP
English
Online courses
Professional Training

Course description

Course content

Level 2

Topic 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

Topic 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

Topic 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

Topic 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

Topic 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
Level 3

Topic 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)

Topic 2 - Reconcile Accounts and Correct Errors

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

Topic 3 - Reconcile and Produce a VAT return

  • Reconcile the VAT account
  • Complete a VAT return

Topic 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

Topic 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

Topic 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

Why choose Open Study College

Trusted by over 90,000 students

Study from home, at your own pace

Discounts on selected courses

Expenses



Pay Now: GBP 799.00
OR 6 Monthly Instalments of GBP 134.85 with a deposit of GBP
89.90 totalling 899

About provider

Open Study College

Open Study College - the distance learning experts

At Open Study College we have helped more than 90,000 students over the last 13 years to enrol on courses that have helped them to achieve their goals. Offering over 650 courses ranging from childcare to beauty therapy, we have...


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