ICB Level 2 and 3 Bookkeeping with Starting Your Own Business

Course Code

OSC1345

Develop advanced bookkeeping, accounting and business knowledge, with an award-winning home learning provider!

Learn how to plan, set up, market and run a company.
Gain knowledge of all aspects of bookkeeping.
Starting with manual single-entry bookkeeping, and working up to fully computerised accounts for a limited company.

Course Options	Please choose a course option to see prices	Course Material + Starting Your Own Business
Study Options	This course is only available as a study pack.
Payment Options	Pay Upfront Pay Monthly Pay Monthly is not available in your currency.

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A strong understanding of your company’s finances is one of the most vital factors that will influence its potential for success. But hiring accountants can be too costly for many young businesses.

That’s why this ICB Level 2 Bookkeeping, Level 3 Bookkeeping and Accounts and Starting Your Own Business course package offers you the chance to learn how to plan, set up, market and run a company, and gain knowledge of all aspects of bookkeeping.

Course Duration

Up to 3 years.

Course Outcome

You will receive an ICB Level 2 Certificate in Bookkeeping (AICB), an ICB Level 3 Certificate in Bookkeeping and Accounts (MICB) and a Certificate of Achievement in Starting Your Own Business Level 3.

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 an examination.

ICB Level 2 Certificate in Bookkeeping – Associate Membership AICB

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

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

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

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

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

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)

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

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

Understand the importance of interpreting financial statements for internal management purposes
Analyse and interpret financial statements
Prepare a cash budget

Starting Your Own Business QLS Level 3

Why start your own business?
Character and motivation
Before you start: managing yourself and planning
Market research
Sales and profits
Competitors
Financial planning
Suppliers
Employing people
Stock and asset management

Deciding on the form of your business (sole trader, partnership, limited company)
How to decide what is best for you
Setting goals for yourself

Your product or service
Value for money
Competition
Segmenting your market
Pricing

Identifying your potential customers
Promoting your business
Before sale
After sale

Understanding your business finances
Working with figures
Break-event point
Fixed and current assets
Cash flow
Sources of finance
Managing your money

Why do you need a business plan?
The format and structure of your business plan
Yourself, your people. your values, your mission
Your business model
Your market
Your competition
Development
Profit forecast
Risks

Assessment

For the Starting Your Own Business Level 3 course, you will be assessed through a series of written assignments, which are submitted to and marked by your tutor. There is no external examination required.

For the ICB courses, 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 three 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 ICB courses 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. Students will receive all course materials by post, plus tutor support by email.

Course Outcomes

On successful completion of all assessments, you will achieve an ICB Level 2 Certificate in Bookkeeping (AICB), an ICB Level 3 Certificate in Bookkeeping and Accounts (MICB) and a Certificate of Achievement in Starting your Own Business Level 3.

On completion of the Level 2 and 3 ICB 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.

The Starting Your Own Business Level 3 course has been endorsed by the Quality License Scheme for its high-quality. This course is not regulated by Ofqual and is not an accredited qualification. We will be able to advise you on any further recognition, for example, progression routes into further and/or higher education. For further information please visit the Learner FAQs on the Quality License Scheme website. This course has been benchmarked at Level 3 against level descriptors published by Ofqual, to indicate the depth of knowledge and understanding that you would expect at this level.

No prior bookkeeping knowledge is needed to enrol onto this course, but you should have basic numerical skills. The SAGE software is accessible via a downloadable link, so you’ll need a computer or laptop with internet connection and storage.

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 membership
Comprehensive study guide
Open Study College pen and highlighter
Student notebook

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.

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.

IAB Bookkeeping Levels 1 2 and 3

Package course (best value)

From £25.12 /month

or from £949 in full

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