Course Overview

ICB Level 2 and 3 Certificate in Bookkeeping and Accounts - Full Membership MICB

Course code: OSC1343

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If you love everything numbers this course is the one for you. This package course provides everything you need to know about bookkeeping, so enrol now to study with an award-winning home learning provider with tutor support!

  • Study a flexible course that is accredited by the ICB (The Institute of Certified Bookkeepers), the world's largest bookkeeping institute.
  • A successful pass on this complete package will allow you to apply to become an ICB Full member, proving your bookkeeping skills to employers or customers
  • Develop advanced-level knowledge of bookkeeping processes and practices, from single-entry manual bookkeeping to fully computerised accounts.
  • Gain real skills, allowing you to work for all types of organisations and as a freelance bookkeeper.

Watch our video with ICB CEO, Garry Carter. Please note that the levels of study and membership have now changed. Level 2 is now Associate Membership and Level 3 is Full Membership.

This combined course also includes:

  • FREE ICB 1-year Annual Subscription and Registration fee worth £80.00
  • FREE Sage 50 Accounts software
Discounts on selected courses - Until 26th November
Course Content

Course content

Level 2

Topic 1 - Underpinning Knowledge

  • Understand the importance of adhering to a code of professional ethics
  • Understand the legal differences between the structure of different types of businesses
  • Understand the specific accounting requirements for different accounting systems
  • Understand the basic accounting concepts
  • Understand the importance of legislation that applies to bookkeepers
  • Understand the importance of the Chart of Accounts
  • Understand the importance of IT systems in a modern bookkeeping world
  • Understand the basic principles involved in double entry bookkeeping including the format of the accounting equation
  • Identify the various methods of payment and receipts to and from a bank account

Topic 2 - Prepare Business Documents

  • Understand the purpose and range of business documents
  • Understand the need to accurately prepare business documents for goods and services supplied
  • Understand the need to check business documents received

Topic 3 - Accounting for VAT

  • Understand the various rates of VAT
  • Understand how to correctly account for VAT in a bookkeeping system
  • Understand how to account for VAT transactions with customers in, and suppliers from, other countries

Topic 4 - Entering transactions

  • Understand the purpose of, and making entries into, a bookkeeping system
  • Calculate the value of equity
  • Understand how to upload and match bank transactions
  • Understand the use of control accounts in the system
  • Understand the purpose and need to record petty cash
  • Post appropriate journal entries into the system

Topic 5 - Reconciliation and Reporting

  • Understand the purpose and use of the trial balance
  • Reconcile relevant account balances
  • Understand the need to correct errors
  • Produce relevant reports

Level 3

Topic 1 - Underpinning knowledge

  • Understand the importance of adhering to a code of ethical principles
  • Understand when and how to take appropriate action to cope with unethical behaviour
  • Understand the legal differences between the structures of various types of businesses
  • Understand the main accounting concepts that apply
  • Understand the various Accounting Standards that are applied to the production of year end accounts
  • Understand the different VAT schemes that are available for use
  • Understand the importance of being able to clearly communicate relevant information
  • Understand the requirements for uploads to HMRC under Making Tax Digital (as and when introduced)

Topic 2 - Reconcile Accounts and Correct Errors

  • Reconcile debtors and creditors control accounts
  • Write off a bad debt
  • Correct errors in the accounts

Topic 3 - Reconcile and Produce a VAT return

  • Reconcile the VAT account
  • Complete a VAT return

Topic 4 - Calculate and Post Adjustments to the Accounts

  • Account for the disposal of fixed assets
  • Understand the need to allow for, and be able to post, adjustments to the accounts
  • Provide for revaluation of assets

Topic 5 - Produce draft final accounts for internal management purposes

  • Prepare a set of final accounts suitable for internal management purposes
  • Calculate and post relevant amounts to appropriate profits as required
  • Adjust capital share of partners

Topic 6 - Interpretation of financial statements

  • Understand the importance of interpreting financial statements for internal management purposes
  • Analyse and interpret financial statements
  • Prepare a cash budget
Other Information
  • Level 2 Certificate: Three online tests
  • Level 3 Certificate: Four online tests and a centre-based examination

All online tests can be taken at home or at work, wherever you have access to a secure Internet connection, so assessment is quick and simple. For the centre-based tests, we can help you find an approved ICB examination centre in your area.

Course Duration

Students may register at any time and have 24 months to complete their studies. This is more than enough time, so that you can work at your own pace. This is a flexible course which has been designed to fit easily around your lifestyle. You will receive 24 months tutor support. Whilst studying your course you will also be asked to install the Sage software (your materials will tell you when to do this). From the point when you have installed the software you will have 6 months to complete the computerised section.

Study Method

The course is designed for study by distance learning at home or at work, with full tutor support by email.

Course Outcomes

With this bookkeeping course you have two options:

1) The course can be studied for personal interest and development without assessment and we can provide you with a completion certificate.

2) You can opt to take the examinations online from home. On successful completion of the examinations, you will gain two bookkeeping Certificates: the ICB Level 2 Certificate in Bookkeeping and the ICB Level 3 Certificate in Bookkeeping and Accounts. Passing these will allow you to apply to become a full ICB member, proving your bookkeeping skills to employers or customers.


Your Questions Answered

What skills or requirements are there to enrol onto this course?

No prior bookkeeping knowledge is needed to enrol onto this course, but you should have basic numerical skills. The SAGE software will be available via a download link, so you will need a computer with internet access and storage.  

What is included in the cost of my course?
  • Comprehensive study guide
  • ICB 1-year Annual Subscription and Registration fee worth £80.00 (it can take up to 6 weeks to process the registration)
  • Dedicated personal tutor support by email
  • Dedicated student support
  • Accreditation
  • Assignment marking and feedback
  • Open Study College ballpoint pen and highlighter
  • Student study planner
  • Student notebook
  • Document wallet
  • FREE Sage 50 Accounts software (available as a download only - you must have an internet connection and the ability to save the software to your device) 
  • FREE CV writing service
  • FREE employability guide to help you impress future employers
Will the Sage software work on any computer?

The Sage 50 Accounts software will only work on computers which run Windows 7 or higher, therefore Sage will not run on Windows XP. Sage software will not run on any Apple Macintosh computer. Please email us for full specification and compatibility details. The SAGE software will be available via a download link, so you will need a computer with internet access and storage.  

Do I have to sit an exam?

You have the option of sitting the ICB examinations. However, if you choose not to take the exam, we can issue you with a certificate proving that you have completed the course.

Are there any additional costs?

If you decide to sit the ICB exams, there will be a charge payable to the ICB and your chosen assessment centre.

What happens if I lose my course pack?

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.

What if I still have questions?

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 Student Support Team a call on 03300 563 100 and they’ll do their best to help.

Finance options

Provided by
Length Of Your Repayment
Your Deposit
Monthly payment:

Deposit to pay:

  • Cash Price:
  • Loan Amount:
  • Loan Repayments:
  • Cost of Loan:
  • Number of Monthly Payments:
  • Total Amount Payable:

The total course fee includes a loan arrangement fee. Your initial deposit payment will be used towards this fee, any remaining fee balance will be added the loan amount.

Provided by

Our finance option is provided in partnership with AffordItNow.
For your finance application to be considered you must meet the following criteria:

  • Be over 18 years old
  • Be employed for at least 16 hours a week or retired and in receipt of a private or company pension. Certain state benefit schemes may also be considered.
  • Be a permanent UK resident with a 3 year address history
  • Have a good credit history with no late payments, debt relief orders or bankruptcies
  • Have a valid email address and can access it

Please note that meeting the above criteria does not guarantee finance acceptance.

Open Study College, 6140 Knights Court, Birmingham Business Park, Birmingham B37 7WY is a licensed credit broker, authorised and regulated by The Financial Conduct Authority (licence number 724179 with FCA).