IAB Level 1 Award in Bookkeeping and IAB Level 2 Certificate in Bookkeeping

Course Code

OSC1136

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Are you looking to pursue a career in bookkeeping or even further your knowledge in the field? Then this IAB Bookkeeping Level 1 and 2 course bundle could be just for you. From the introduction to the process of keeping double entry records to using a sub-divided double entry bookkeeping system, this may just be your foot in the door to the bookkeeping world.

Understand the types of business entity which operate in the private sector of the UK economy.
Become competent in all basic bookkeeping routines and activities.
Know how to use a sub-divided bookkeeping system using main books, subsidiary books and books of prime entry.
Gain an internationally recognised qualification.

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This IAB Bookkeeping Levels 1 and 2 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 carrying out a range of day-to-day bookkeeping routines and activities.

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.

Future career options:

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

Course duration

Up to 2 years.

Course outcome

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

Entry requirements

There are no specific entry requirements for this course.

Assessment

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

IAB Level 1 Award in Bookkeeping

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

IAB Level 2 Certificate in Bookkeeping

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

Assessment

During this IAB Bookkeeping Levels 1 and 2 course bundle, 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.

All online knowledge tests and assignments for this course are completed using the IAB online testing platform and are subject to a time constraint. Your external IAB examination will be completed under controlled conditions at an external venue. You will be responsible for booking your exams, but we can assist in 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.

Course duration

Once enrolled, you can start at any time and have 24 months to complete this bundle (12 months for each level). You will also receive 12 months tutor support for each level, so you can work at your own pace.

Study method

This course is designed for study by distance learning at home or at work. You will receive a course pack containing all study materials, as well as support and assignment marking from a personal tutor.

Course outcomes

Upon successful completion of all assessments, you will achieve a Level 1 Award in Bookkeeping and a Level 2 Certificate in Bookkeeping accredited by the Institute of Accountants and Bookkeepers (IAB).

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.

What next?

Upon completion of this course, you can move up to the IAB Bookkeeping Level 3 course.

There are no formal entry requirements needed to enrol onto this 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 1^st 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 Student Support Team can provide you with a new set of materials for a one-time additional fee.