1Course Overview

ICB Level 2 and 3 Bookkeeping with Starting Your Own Business

Course code: OSC1345

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

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.

Starting with manual single-entry bookkeeping, and working up to fully computerised accounts for a limited company, the course aims to provide a depth of knowledge in step-by-step fashion, so that you develop a solid foundation in bookkeeping theory and practice.

Watch our video with ICB CEO Garry Carter to find out more. Please note the level awards have now changed - level 2 is associate membership, and level 3 is full membership.

Discounts on selected courses - Until 28th May
2Course Content

Course content

ICB Level 2 Certificate in Bookeeping (AICB)

  • Unit 1 - Underpinning Knowledge
  • Unit 2 - Prepare Business Documents
  • Unit 3 - Accounting for VAT
  • Unit 4 - Entering transactions
  • Unit 5 - Reconciliation and Reporting

Level 3 Certificate in Bookkeeping and Accounts (MICB)

  • Unit 1 - Underpinning knowledge
  • Unit 2 - Reconcile Accounts and Correct Errors
  • Unit 3 - Reconcile and Produce a VAT return
  • Unit 4 - Calculate and Post Adjustments to the Accounts
  • Unit 5 - Produce draft final accounts for internal management purposes
  • Unit 6 - Interpretation of financial statements

Starting Your Own Business Level 3

  • Unit 1: Preparing to Start Your Business
  • Unit 2: Defining Your Business
  • Unit 3: Marketing
  • Unit 4: Customers
  • Unit 5: Finance
  • Unit 6: Your Business Plan
3Other Information


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 Bookkeeping Level 2 and 3 course, the following assessments must be completed if you wish to gain the formal ICB qualifications:

  • 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

You may start at any time and have 12 months per level to complete your studies. This is more than enough time to give you flexibility and enable you to work at your own pace, without the pressure of deadlines.

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


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 online home tests and centre-based examinations. On successful completion of the these, you will gain two bookkeeping qualifications: the ICB Level 2 Certificate in Bookkeeping (AICB) and the ICB Level 3 Certificate in Bookkeeping and Accounts (MICB). Passing these qualifications will enable you to gain full membership status with the Institute of Certified Bookkeepers and use the letters MICB after your name, proving your qualifications to potential employers and clients.

ABC Award (Starting Your Own Business)

At the end of this course successful learners will receive a Certificates of Achievement by ABC Awards and a Learner Unit Summary (This lists details of all the units you have completed as part of your course).

The course itself has been designed by Open Study College to meet specific learners’ or employers’ requirements. The course has been endorsed under the ABC Awards’ Quality Licence Scheme. This means Open Study College have undergone external quality checks to ensure that the organisation and the courses’ it offers meet a high standard. Regular reviews of our courses are carried out as part of the endorsement process.

The completion of this course alone does not lead to an Ofqual regulated qualification, but may be used as evidence of knowledge and skills towards regulated qualifications in the future. The unit summary can be used as evidence towards your Recognition of Prior Learning if you wish to progress your studies in this sector.

The course depth and study has been benchmarked at Level 3 against level descriptors published by Ofqual.

ABC Awards are a national awarding organisation that have years of experience in developing and awarding high quality vocational qualifications across a wide range of industries. They have a comprehensive portfolio of over 650 Ofqual regulated qualifications on the national Qualifications and Credit framework (QCF) for all ages and abilities post-14.


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 is accessible via a downloadable link, so you'll need a computer or laptop with internet connection 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 in disk format only)
  • FREE CV writing service
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 software is downloadable via an online link, so you will need internet connection and storage on your device. 

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
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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).