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IAB Bookkeeping Levels 1 2 and 3

OSC1390

Are you looking to pursue a career in bookkeeping or even further your knowledge in the field? Then this IAB Bookkeeping Levels 1, 2 and 3 course bundle could be just for you. From the introduction to the process of keeping double entry records to making adjustments in the preparation of financial statements, this may just be your foot in the door to the bookkeeping world.

Course duration

Up to 3 years.

Course outcome

You will receive a Level 1 Award in Bookkeeping, a Level 2 Certificate in Bookkeeping and a Level 3 Certificate in Bookkeeping and Accounting accredited by the IAB (Institute of Accountants and Bookkeepers).

Entry requirements

There are no specific entry requirements for the IAB Bookkeeping Levels 1, 2 and 3 Bookkeeping course bundle.

Assessment

A mixture of tutor-marked assignments, online tests and examinations.

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Study Options

This course is only available as a study pack

Study Options

 
£989.00£939.00
or £30.31 /month*
Course code: OSC1390

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*Pay monthly option available via Snap Finance on payment page in checkout

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Course overview

  • Achieve a nationally recognised qualification in bookkeeping and accounting.
  • Understand everything you need to know about bookkeeping including trial balance, valuing stock, books of prime entry and much more.
  • Know how to gain the skills required to prepare financial statements for a sole trader.
  • Gain a nationally recognised qualification from the Institute of Accountants and Bookkeepers.

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 110,000 other students who chose to improve their education and boost their employability through distance learning.

  • 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

  • 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

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

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

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

  • 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

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

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

  • 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

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

  • 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

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

Awarding Body

The Institute of Accountants and Bookkeepers (IAB) is a membership organisation and awarding body that provides qualifications in bookkeeping, payroll, and finance all over the world.

By offering flexible, Ofqual-regulated qualifications, they are helping develop students’ journeys from the beginning and throughout their careers. The courses are developed by education professionals, members of the IAB, employers, and other relevant organisations to ensure that all of their qualifications meet the highest industry-approved standards.

Extra Information

During this course, you will complete a number of tutor-marked assignments in preparation for your official assessments.

For the Level 1 Award in Bookkeeping, as part of your official assessment, you will complete 3 online knowledge tests. For the Level 2 Certificate in Bookkeeping, as part of your official assessment, you will complete two online knowledge tests, two online assignments and an examination. For the Level 3 Certificate in Bookkeeping and Accounts, as part of your official assessment, you will complete one online knowledge test, two online assignments and an examination.

All online knowledge tests and assignments for this course are completed using the IAB online testing platform and are subject to a time constraint. All IAB examinations will be completed under controlled conditions at an external venue. You will be responsible for booking for these external exams, but we are able to assist with finding a venue.

Please note, you must purchase IAB student membership in order to book your IAB exams – please see the Q&As section for more information.

Once enrolled, you can start at any time and will have three years to complete the IAB Bookkeeping Levels 1, 2 and 3 course bundle (one year per level). You will also receive 12 months tutor support for each level, so you can work at your own pace.

You will study this course by distance learning, which will enable you to learn when and where you want. You can study from home or at work, it is completely up to you. All your materials will be posted or online, depending on the study method you choose. If you choose to study online, your login details will be emailed to you. You will also receive your tutor support by email, so help is only a click away.

Upon completion of the IAB Bookkeeping Levels 1, 2 and 3 bundle course, you will receive a Level 1 Award in Bookkeeping, a Level 2 Certificate in Bookkeeping, and a Level 3 Certificate in Bookkeeping and Accounting which are accredited by IAB (Institute of Accountants and Bookkeepers).

You could also apply to be a professional member at the grade of Membership with IAB.

When you have successfully completed this course, you will be able to apply for professional membership with IAB and start your career in bookkeeping and accounting.

FAQs

There are no formal entry requirements needed to enrol onto the IAB Bookkeeping Levels 1, 2 and 3 bundle course. However, it is recommended that you have basic skills in numeracy and literacy. Prior knowledge of bookkeeping terminology and the skill to perform some basic bookkeeping tasks is also desirable.

  • Dedicated personal tutor support
  • Dedicated learner services
  • Assignment marking and feedback
  • FREE CV critique service
  • FREE employability guide to help you impress future employers
  • FREE XO Student Discounts membership
  • Comprehensive study guide
  • Open Study College pen and highlighter
  • Student notebook

From 1st January 2022, all IAB students will be required to register for student membership via the IAB website. The annual membership fee is £50. Once you have registered, you will receive an e-certificate indicating that you are a member of the IAB and the date your membership is valid until.

Becoming an IAB member will give you access to a range of benefits such as networking events, copies of the quarterly The Bookkeeper magazine, and a dedicated student area on their website.

Please note that to enable you to book your IAB exams, you must purchase the membership and register as a student member.

For more information on membership, benefits, and exam fees, go to the IAB website.

It's not a problem. We offer a course replacement service, so if you get into trouble and your course pack is lost or damaged, our Learner Services Team can provide you with a new set of materials for a one-time additional fee.

That's not a problem. We want to make sure you're 100% confident about enrolling on the course and starting your study. So, just give our team of education specialists a call on 03300 563 100 and they'll do their best to help.

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