Bookkeeping Level 1 & 2 ICB qualification

Level 1 Book Keeping

Unit 1 – An introduction to record keeping

• The importance of keeping accurate financial records
• The layout of a bank account and its entries
• Balancing the account

Unit 2 – Further bank account transactions

· Types of income and expenditure

· The analysed bank account

Unit 3 – Double Entry Book Keeping – Cash Transactions

• Basic double entry accounts for bank transactions
• Further account balancing
• The trial balance
• The cash account
• The capital account
• Accounting for payroll transactions

Unit 4 – Double Entry Book Keeping - Credit Transactions

• Credit transactions
• Developing accounts for customers and suppliers
• Splitting the Ledger
• Entering credit transactions into the accounts

Unit 5 – The Calculation of VAT and the development of business documents

• The concept of VAT and VAT registered businesses
• Calculating VAT
• The production of business documents containing VAT

· Dealing with trade and cash discounts

Unit 6 – The posting of VAT Transactions to the Ledgers

• The posting of cash and credit items to the ledger for a VAT registered business
• VAT Input and VAT Output accounts
• The single Vat Account
• How to calculate VAT exclusive and VAT inclusive amounts

Unit 7 – Day Books

• Explanation of day books
• Making entries into the various books
• Posting day book entries to the relevant accounts in the correct ledger.

Level 2 Book Keeping

Unit 1 – Cash Books

· Two column cash books

· Revision of cash discount

· Three column cash book

· The Petty Cash Book

Unit 2 – Correction of errors

· Types of errors

· Correcting the ledgers

· The suspense account

Unit 3 – Reconciling the accounts

· Bank reconciliation

· Control Accounts – reconciling customer and supplier balances

· The VAT Return

Unit 4 – Introduction to Final Accounts of a Sole Trader

· The nature of profit

· Calculating gross and net profit

· The Trading, Profit and Loss Account

· The Balance Sheet

Unit 5 – Adjustments to Final Accounts

· Accruals and prepayments

· Depreciation

· Bad debts and the Provision for Bad Debts

· Further corrections and adjustments to profits

Unit 6 – End of Year Ledger Entries

· Closing of the ledger accounts at the year end

Exam Information

On successful completion of our course we will provide you with a completion diploma.

If you wish to take the ICB exams you will need to register with the ICB as a student and they will send you all the information you require to take your exams.

The cost is £45 for student membership for 12 months.

The Level 1 Certificate in Manual Bookkeeping is taken at home on a Friday, you arrange with the ICB for them to send the test papers out to you and you complete them from home then send it back to them.

The Level 2 Certificate in Manual Bookkeeping is sat in a centre. The ICB arrange the centre and notify you with a map and directions and times. Most examinations are at 9:30AM. They have centres all over the world, and in the UK they are not normally very far away (10-20minutes) unless you live in very rural areas.

Those two examinations are held on the 2nd Wednesday of every February, June and October, and the deadline for entry is the 20th of the month prior, I.E January, May and September.

Exam Fees

Level 1 £20.00

Level 2 £25.00