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

Course code: OSC1343

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This 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 Institute of Certified Bookkeepers(ICB), the world's largest bookkeeping institute.
A successful pass on this complete package will allow you to gain ICB full membership status, 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.

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Study Options	This course is only available as a study pack.
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This bundle provides everything you need to know about bookkeeping, so enrol now to study with an award-winning home learning provider with tutor support!

Course Duration

Up to 2 years.

Course Outcome

You will receive an ICB Level 2 Certificate in Bookkeeping (AICB) and an ICB Level 3 Certificate in Bookkeeping and Accounts (MICB).

Entry Requirements

No prior bookkeeping knowledge is needed to enrol onto this course, but you should have basic numerical skills.

Assessment

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

ICB Level 2 Certificate in Bookkeeping – Associate Membership AICB

Unit 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

Unit 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

Unit 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

Unit 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

Unit 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

ICB Level 3 Certificate in Bookkeeping and Accounts – Full Membership MICB

Unit 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)

Unit 2

Reconcile Accounts and Correct Errors

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

Unit 3

Reconcile and Produce a VAT Return

Reconcile the VAT account
Complete a VAT return

Unit 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

Unit 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

Unit 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

Assessment

During this course, you will complete a number of Tutor Marked Assignments in preparation for your official assessments.
For the Level 2 Certificate in Bookkeeping, as part of your official assessment, you will complete three online tests. For the Level 3 Certificate in Bookkeeping and Accounts, as part of your official assessment, you will complete four online tests and an 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 any examinations, we can help you find an approved ICB examination centre in your area. You will be responsible for booking and paying for any assessments or exams.

Course Duration

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

Whilst studying your course you will also be required to install Sage software. You will have 6 months access to this software.

Study Method

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

Course Outcomes

On successful completion of all assessments, you will achieve an ICB Level 2 Certificate in Bookkeeping (AICB) and an ICB Level 3 Certificate in Bookkeeping and Accounts (MICB)

On completion of the ICB Level 2 and 3 courses, you will receive full membership status with the ICB and will be eligible to use the letters MICB after your name.

Awarding body

The Institute of Certified Bookkeepers is the largest bookkeeping awarding body in the world. Offering membership to students, their industry-recognised qualifications highlight your experience and competence within the bookkeeping and account profession.

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. In addition, the SAGE software must be downloaded via the link supplied, so you’ll need a computer or laptop with an internet connection and storage space.

What is included in the cost of my course?

Dedicated personal tutor support
Dedicated student support
Assignment marking and feedback
FREE registration and 1-year subscription to ICB
FREE Sage 50 Accounts software
FREE CV critique service
FREE employability guide to help you impress future employers
FREE XO Student Discounts card
Comprehensive study guide
Open Study College pen and highlighter
Student study planner
Student notebook
Document wallet

Will the Sage software work on any computer?

The Sage 50 software will only work on computers which run Windows 7 or higher. Sage software will not run on Windows XP or on any Apple Macintosh computer. The software is available as a download only – you must have an internet connection and the ability to save the software to your device.

Do I have to sit an exam?

In order to achieve the full qualification for each course, you will be required to sit a number of online tests and an examination.

Are there any additional costs?

Yes. It is your responsibility to pay for all ICB assessments and examinations.

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