ICB Level 2 Certificate in Bookkeeping

Unit 1: Underpinning knowledge

• Understand the importance of adhering to a code of Professional Ethics
• Understand the basic differences between the structures of different types of businesses
• Understand the importance of legislation that applies to bookkeepers
• Understand the basic elements of a contract
• Understand the Accounting Equation
• Understand the concept of reporting on a cash basis for income tax purposes
• Identify the various methods of payments and receipts to and from a bank account
• Understand the need for bank security
• Understand the basic accounting concepts

Unit 2: Business Documents

• Understand the purpose and range of business documents.
• Understand the need to accurately prepare business documents for goods supplied
• Understand the need to check business documents received

Unit 3: Ledger accounts and the division of the ledger

• Understand the purpose of, and make entries into, the ledger accounts
• Use a set of control accounts in the ledgers
• Enter transactions into control accounts from the relevant books of prime entry

Unit 4: Books of prime entry

• Understand the purpose of, and make entries into, the books of prime entry
• Explain how the books of prime entry integrate with the ledgers
• Entering invoices and credit notes into books of prime entry
• Preparing sales day book, sales returns day book, purchase day book and purchase returns day book
• Prepare an opening journal entry for a business
• Prepare a journal entry to record purchase of a fixed asset

Unit 5: Accounting for VAT

• Understand the process of dealing with and accounting for VAT in the ledgers.
• Learning the difference between the following levels of VAT:
• Standard rate
• Reduced rate
• Zero rate
• Exempt of VAT
• Outside the scope of VAT
• Extract the VAT from a VAT inclusive amount
• Correctly account for input and output tax in the ledgers including amounts that are VAT inclusive
• Explain the significance of debit and credit balances in the VAT accounts
• Understand how VAT is calculated and entered into the books of account for the following types of invoices:
• Invoices to customers and from suppliers outside the EU that are zero rated
• Invoices to customers and from suppliers outside the UK but within the EU that are:
  • not registered for VAT in their own country
  • registered for VAT in their own country

Unit 6: Making and receiving payments

• Understand the use of an analysed cash book
• Record income and expenditure into an analysed cash book
• Understand the purpose and need to record petty cash
• Understand the purpose and use of the two and three column cash books

Unit 7: Trial Balance

• Understand the purpose and use of the trial balance.
• Prepare a trial balance from the ledger accounts
• Understand what to do if the trial balance does not balance
• Open a suspense account where applicable to account for any imbalance

Unit 8: Use a computerised accounts package

• Health and safety of using computerised systems
• Set up new business accounts
• Processing Nominal Ledger and Subsidiary Ledger Accounts
• Generate reports for trial balance, audit trail, nominal account transactions
• Generate reports for bank account transactions and sales and ledger transactions

Course Enrolment Fees

Our aim is to provide you with the best deal available, therefore any registration fee, certification fee and full tutor support is included in the course price for you. The enrolment fee for the Bookkeeping Level 2 home study course is £748.75, though for a limited time we are offering you the opportunity to pay only £599 which is a 20% discount if you enrol online and pay in full.