IAB Other Courses
Level 3 Certificate in Manual Bookkeeping
The IAB Bookkeeping qualifications are specifically designed to appeal to those who are aspiring to become, or who are already, professional bookkeepers or accounts administrators. This Level 3 qualification is primarily designed for the following candidates:
1 Those who already have some bookkeeping experience and who wish to acquire further skills required of Bookkeepers, Accounts Clerks and Financial Administrators in a manual accounting environment.
2 Those candidates who already hold the IAB Level 1 Award and Level 2 Certificate in Bookkeeping or the IAB Level 2 Certificate in Computerised Bookkeeping and wish to progress to a Level 3 qualification.
3 Those who are already employed in bookkeeping or allied roles and who wish to enhance their firm foundation to perform some advanced routine and non-routine tasks.
4 Those preparing for or undertaking an apprenticeship in bookkeeping or accounting at Level 3 who wish to underpin this with a thorough grounding in the fundamental technical knowledge skills associated with producing financial statements at this level.
5 Those who may wish to continue to a higher level of study in accounting and related subjects and qualifications.
To achieve this qualification, all the mandatory units consisting of 18 credits must be achieved. The accreditation number, level and credit value of each unit is as follows:
Mandatory units Record transactions and make accounting adjustments – M601/0732 (level 3 – 5 credits)
Prepare financial statements for a sole trader – A601/0734 (level 3 – 3 credits)
Prepare financial statements for a partnership – Y601/0742 (level 3 – 3 credits)
Prepare financial statements from incomplete records – A601/0751 (level 3 – 3 credits)
Prepare financial statements for a not for profit organisation – D601/0757 (level 3 – 2 credits)
Preparing and completing VAT returns – J600/4953 (level 3 – 2 credits)
Level 3 Diploma in Accounting and Advanced Bookkeeping
The overall aim of this qualification is to accredit candidates’ knowledge and understanding of the fundamental principles concerned in the valuation of the assets of the business, the elimination of errors and the preparing of complex Financial Statements following the calculation of the necessary accounting adjustments. Within the qualification, candidates have the opportunity to gain knowledge of the processes necessary to prepare a Fixed Asset Register and complete the necessary calculations associated with Fixed Assets. Candidates will also be able to develop the skills necessary to prepare for the correction of errors using a Suspense Account, and calculations relating to Stock, prepayments, accruals and bad debts. Finally the candidate will be able to prepare financial statements for a variety of business organisations, including a sole trader and a partnership.
The qualification requires candidates to understand the use of the Journal and the preparation of the Trading Account, Profit and Loss Account and Balance Sheet, which form the Financial Statements. Various scenarios are covered including the preparation of financial statements for non profit making organisations and from a set of incomplete records. Accuracy, integrity and security of data should always be uppermost in the candidates mind.
The IAB Book-keeping qualifications are specifically designed to appeal to those who are aspiring to become, or who are already, professional book-keepers or accounts administrators. This Level 3 qualification is primarily designed for the following candidates: 1 Those who already have some book-keeping experience and who wish to acquire further skills and knowledge required of Book-keepers, Accounts Clerks and Administrators. 2 Those candidates who already hold the IAB Level 1 and Level 2 Certificates in Book-keeping or the IAB Level 2 Certificate in Computerised Book-keeping. 3 Those who are already employed in Book-keeping or allied roles and who wish to enhance there firm foundation and the knowledge and skills to perform some advanced routine and non-routine tasks. 4 Those preparing for or undertaking an NVQ in Accounting at Level 3 who wish to underpin this with a thorough grounding in the fundamental technical knowledge, understanding and skills associated with producing and processing a payroll at that level. 5 Those who may wish to continue to a higher level of study in Book-keeping and Accounting and related subjects and qualifications.
Level 3 Diploma in Cost and Management Accounting
The overall aim of this qualification is to accredit candidates’ knowledge and understanding of the fundamental principles concerned in the determining the cost of labour, materials and overheads so as to accurately ascertain the cost price and selling price of goods and/or services
Within the qualification, candidates have the opportunity to gain knowledge of the need for company’s to prepare reports for management and to be able to understand the outcome of those reports. Candidates will also be able to calculate Gross Pay and Employer Wages Costs, and complete the necessary calculations associated with Stock Valuation and other material costs. Candidates will also be able to develop the skills necessary to prepare for the calculation of any variance from cost price to selling price and in usage and labour, and more complex calculations relating to Stock. Finally the candidate will be able to prepare analysis of the way the company is performing.
The qualification requires candidates to understand the terminology relating to the costs of materials, overheads and labour, and be able to record these in the Books and accounts of the business.
Level 4 Diploma in Accounting to International Standards
The overall aim of this qualification is to accredit candidates’ knowledge and understanding of the fundamental principles concerned in the preparation and publication of financial standards, ensuring they comply with International Accounting Standards and to the UK Accounting Concepts and Policies.
Within the qualification, candidates have the opportunity to gain knowledge of the processes necessary to prepare financial statements for sole traders, partnerships and limited liability businesses and complete the necessary calculations associated with Cash Flow Statements and consolidated financial statements. Candidates will also be able to develop the skills necessary to complete analysis of the organisations financial situation using pre-determined ratios.
The qualification requires candidates to understand the legal structure of a limited liability company and the preparation of the Trading Account, Profit and Loss Account and Balance Sheet, which form the Financial Statements, using UK Accounting Concepts and International Accounting Standards. Various scenarios are covered including the preparation of financial statements for those businesses who operate as a parent company incorporating one subsidiary company.
Attendance: Courses are available as classroom delivery (subject to demand) or distance learning.
Next available start date: TBC - please contact us for more details
Cost: TBC - please contact us for more details
Further details on these qualifications can be found on the IAB website.