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1Course Overview

IAB Level 3 Certificate in Bookkeeping and Accounting

Course code: OSC1186

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Pursue your studies in bookkeeping and accounting, from home!

This course is accredited by the IAB (International Association of Bookkeepers). IAB qualifications are developed by education professionals, members of the IAB, employers and other relevant organisations to ensure that their courses meet the highest industry-approved standards. This course is nationally recognised qualification approved by the regulatory authorities in England (Ofqual), Wales (Welsh Government) and Northern Ireland (CCEA).

As well as providing an excellent knowledge base in bookkeeping and accounting, this IAB course is ideal for:

  • Students who want to achieve a nationally recognised qualification in bookkeeping and accounting
  • Those aspiring to achieve a career in bookkeeping and accounts
  • Learners that want to boost their skills and progress in their current career

This IAB Level 3 Certificate in Bookkeeping and Accounting course enables you to:

  • Understand how to prepare a trial balance, use a suspense account and correct bookkeeping errors
  • Explore how to carry out routine period end procedures such as valuing stock and recording a stock valuation in the bookkeeping system
  • Know how to gain the skills required to prepare financial statements for a sole trader
  • Gain an internationally recognised qualification
Black Friday discounts on selected courses - Until 23rd November
2Course Content

RQF Number: 601/9058/9

Unit 1: Principles of Accounting

(R/508/5865, Unit Level: 3, GLH: 10)

  • 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
Unit 2: Make accounting adjustments

(Y/508/5866, Unit Level: 3, GLH: 25)

  • Account for a stock valuation
  • Account for fixed assets
  • Account for prepayments and accruals
  • Account for bad and doubtful debts
Unit 3: Prepare financial statements from double entry records for sole traders and partnerships

(D/508/5867, Unit Level: 3, GLH: 25)

  • 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
Unit 4: Prepare financial statements from incomplete records for sole traders and not for profit organisations

(H/508/5868, Unit Level: 3, GLH: 20)

  • Calculate capital or accumulated funds from incomplete data
  • Construct accounts and a trial balance from incomplete records
  • Prepare financial statements from incomplete records
3Other Information
Assessment

A knowledge test, two assignments and an examination are used for the purpose of assessing learner competence in this qualification. The assessments for this course are completed online using the IAB Online testing platform and are subject to a time constraint. The IAB examinations must be completed under controlled conditions.

Course Duration

This course will take approximately 80 study hours. You can register at any time and will have 12 months to complete the course and 12 months tutor support, from the date of enrolment, 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 Outcome

Upon successful completion of all assessments, you will achieve a Level 3 Certificate in Bookkeeping and Accounting accredited by the IAB (International Association of Bookkeepers). That means that it is a level 3 nationally recognised qualification approved by the regulatory authorities in England (Ofqual), Wales (Welsh Government) and Northern Ireland (CCEA).

IAB stands for the International Association of Bookkeepers, which is an awarding body of qualifications and a professional association for qualified bookkeepers. IAB qualifications are developed by education professionals, members of the IAB, employers and other relevant organisations to ensure that their courses meet the highest industry-approved standards.

Learners who do not achieve the full qualification may request a Unit Certificate of Completion (RQF) for any of the individual units they successfully complete. This certificate will refer only to the title of the unit completed. Prior to issue of the Unit Certificate of Completion (RQF) a fee per unit must be paid to the IAB.

RQF Number: 601/9058/9

4Q&As

Course Questions & Answers

What skills or knowledge do you need to enrol onto this course?

It is recommended that you have a sound knowledge of bookkeeping up to and including trial balance stage. Suitable work experience would qualify you to commence your studies at this Level, as would the IAB Level 2 Certificate in Bookkeeping qualification or a similar qualification issued by another awarding body.

What is included in the cost of my course?
  • Comprehensive study guide
  • Dedicated personal tutor support
  • Dedicated student support
  • Accreditation
  • Assignment marking and feedback
  • Exclusive Open Study College Pen
  • Student study planner
  • Three colour highlighter
  • Student notebook
  • Document wallet
  • FREE CV writing service
Are there any additional costs?

You will need to pay an additional fee to become registered with IAB for your chosen course and to become a student member. It is also your responsibility to pay for all IAB exams and assessment venues.

What happens if I lose my course pack?

We offer a course replacement service which ensures that, if your course pack is lost or damaged throughout the duration of your studies, we can issue you with a new set of materials for a one-time additional fee. This is available by calling our Student Support team on 03300 563100.

What do i do if i still have questions?

For further information please contact us.

Additional Discounts Available on selected courses until 23rd November
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