1Course Overview

ICB Level 4 Certificate - Full Membership MICB

Course code: OSC1220

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Gain an in-depth knowledge into bookkeeping and accounts with this course, from home!

Study with an award-winning home learning provider with tutor support!

  • Gain all the skills to become a senior employed or self-employed, certified bookkeeper
  • Learn how to complete a draft for internal management accounts in both a manual and computerised system
  • This course includes FREE Sage 50 Workbook software for you to practice and gain real bookkeeping skills throughout your course
  • On successful completion of this course, you will be a certified bookkeeper and your ICB membership will be upgraded to Member status. This means you can use the designated letters MICB after your name, proving your qualifications to employers.
£25.00 cashback

Receive £25.00 cashback as a congratulations from us for successfully completing each course and ICB examination in full.

Please Note: Before enrolling on this course will you need to have achieved an ICB Level 2 and 3 Certificate in Bookkeeping or its equivalent with another awarding body.

Meet our award-winning tutor - Caroline Wren

Discounts on selected courses - Until 20th December
2Course Content

Course Content

Unit 1: Limited Company Accounts

Prepare a set of final accounts for a Limited Company:

  • define the term Limited Liability
  • understand its legal status
  • identify sources of capital – shares and debentures
  • distinguish between capital and revenue reserves
  • define shareholders’ equity
  • account for the issue of shares and debentures
  • account for dividends paid
  • prepare a set of final accounts to include adjustments and provisions, debenture interest paid and accrued, treatment of dividends and provision for corporation tax.
Unit 2: Limited Liability Partnerships
  • Understand the nature of a limited liability partnership
  • Understand the reasons for setting up a limited liability partnership
  • Explain the limit of the liability
  • Prepare a set of final accounts for a limited liability partnership (internal management
  • accounts only)
Unit 3: Incomplete Records
  • Prepare a set of final accounts for incomplete records
  • Determine the opening value of capital through the accounting equation
  • Determine bank and cash balances
  • Prepare ledger accounts to determine missing values for sales and purchases using mark up and margin, expenses and drawings
  • Identify capital expenditure
  • Identify stock loss
  • Prepare adjustments for accruals and prepayments
  • Prepare profit and loss account and balance sheet (manual system only)
Unit 4: Advanced Partnership Accounts
  • Account for changes in a partnership
  • Prepare accounting entries for a change of profit sharing ratio including the admission and retirement of a partner
  • Account for the treatment of goodwill on such a change in partners
  • Account for a revaluation of assets in a partnership
Unit 5: Interpretation of financial statements
  • Understand the importance of interpreting financial statements for internal management purposes
  • Understand the link between profitability and liquidity
  • Have an awareness of the problems that might arise if long term borrowing is significantly high in relation to capital invested in the business
  • Analyse and interpret financial statements
3Other Information


The assessment for the qualification comprises two examinations.

Section 1: An online test to be taken at home or at work.

Section 2: An exam to be taken at an approved ICB test centre. This will involve a mixture of multiple-choice and data entry questions, covering all elements of the syllabus.

Course Duration

You have a year to complete this course. This means you will receive 12 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 unlimited 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, and with successful completion of the tutor marked assessments we can provide you with a completion certificate.

2) You can take all the necessary ICB examinations. On successful completion of these, you will gain an ICB Level 4 Certificate in Advanced Bookkeeping and Accounts.


Course Questions & Answers

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

Before commencing the study at this level the candidate should have achieved an ICB Level 3 and 2 Certificate in Bookkeeping or its equivalent with another awarding body. In addition, the software is provided on a disk so you will need to ensure that your computer or laptop is compatible with this. 

What is included in the cost of my course?
  • Comprehensive study guide
  • ICB 1-year Annual Subscription and Registration fee worth £78.00 (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
  • Exclusive Open Study College Pen
  • Student study planner
  • Three colour highlighter
  • 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 provided on a disk so you will need to ensure that your computer or laptop is compatible with this. 

Do I have to sit an exam?

You have the option of sitting the ICB examination from home. However, if you choose not to take the exam, when you have completed your tutor marked assessments 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 small charge payable to the ICB and your chosen assessment centre.

What happens if I lose my course pack?

We offer a course replacement service which ensures that, if your course pack is lost or damaged throughout the duration of your studies, we can issue you with a new set of materials for a one-time additional fee. This is available by calling our Student Support team on 03300 563100.

What do i do if i still have questions?

For further information please contact us.

Additional Discounts Available on selected courses until 20th December
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  • Aged 18-75 at the time of application
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  • Provide 3 years of UK address history
  • Currently employed or self-employed with a minimum annual income of £5,000
  • Not bankrupt or in an IVA (Individual Voluntary Agreement)
  • Must have a UK bank account capable of paying direct debits
  • Must have a credit or debit card

Don’t worry if you don’t meet this criteria, alternative payment options are available. Just call our team of friendly advisers on 03300 563100 and they will be happy to talk you through your financing options.