Bookkeeping Certificate Level 1

Course review:

This qualification is suitable for candidates who work or wish to work in areas of business that will involve the recording of financial transactions. It builds on and extends the knowledge and skills developed at the introductory level and is a good progression route to the Level 2 Certificate in Book-keeping and Accounts.

Content

The Accounting Equation and the basis of double entry book-keeping
Recording transactions through double entry
Balancing accounts
Purchases/sales/returns
The ledger: its subdivision
Day books
Bank facilities/methods of payment or receipt of money
Cash book and cash discount
Bank reconciliation
Petty cash book and the imprest system
Trial balance
Adjusting for accruals and prepayments in the final accounts
Depreciation of fixed assets
The entries relating to bad debts
The journal
Capital and revenue expenditure
Errors in the accounts and their correction
Effect of profit (or loss) and drawings upon capital
Trading and profit and loss accounts
The balance sheet
Control accounts – an introduction

Candidates are assessed by a 2.5 hour paper-based examination. The examination paper consists of four questions, with at least two questions on key topics as detailed in the syllabus. Candidates must do all four questions. The answers required will be predominantly of a quantitative nature but candidates will be expected to demonstrate their understanding of the subject at an appropriate level.