Sale! IAB Level 3 Certificate in Bookkeeping and Accounting

Unit 1 Principles of accounting

• 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

• 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

• 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

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

Assessment

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

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. You will also be required to pass one IAB examination which will be completed under controlled conditions at an external venue. You will be responsible for booking your exams, but we can assist with identifying an appropriate 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 will have 12 months to complete the course. You will also receive 12 months tutor support, 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 3 Certificate in Bookkeeping and Accounting accredited by the IAB (Institute of Accountants and Bookkeepers).

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?

When you have successfully completed the IAB Bookkeeping and Accounting Level 3 course, you will be able to apply for professional membership with IAB and start your career in bookkeeping and accounting.