ICB Level 3 Diploma in manual bookkeeping

Level III Diploma in Manual Bookkeeping
The ICB Level 3 Manual Bookkeeping Diploma course has been designed to follow on from ICB Level 2 Certificate and is ideal for people wishing to develop their bookkeeping skills and qualifications to a technical level. Thus enabling you to carry out bookkeeping tasks for Partnerships and Limited Companies.

Prerequisites.

The ICB Level 2 Manual Bookkeeping Certificate or equivalent must have been completed prior to being able to sit the examination for this level.

About this Course:

This course covers more in depth bookkeeping tasks and will take you through to the preparation of final accounts for a Sole Trader, Partnership and Limited Company.

The course is structured in a format that allows you to study in your own time at your own pace. We provide you with everything needed to complete your course and exam so that you can concentrate on your studies without having to worry about extra costs for materials or the inconvenience of arranging mock and full exams.

The course fee includes: £229.00
• Workbook.
• Study guide and notes.
• Assignments.
• Model answers to tasks enabling you to monitor your own progress.
• Unlimited exam preparation mock papers with marking and feedback.
• Unlimited qualified tutor support for the duration of the course and exam.
• ICB Exam fee. (£30.00)
• Postage and packaging. • Access to community forum

It is assumed that you ICB Membership is up to date as this is covered in level 1 and 2

There are no hidden costs.!

Duration.

On average this course takes between 50 and 55 hours of study time including exam time.

Exams.

Examinations for the Level 3 Diploma in Manual Bookkeeping are held on the second Wednesday of February, June and October. Examinations will be taken at the closest available examination centre which will accept the candidate. As your centre is allocated according to the address details on file it is imperative that you ensure we hold the correct details on file. The examination sittings last up to three hours.
Learning Outcomes.

Data Protection
1) Demonstrate an understanding of the principles of the Data Protection Act

Stock Control
1) Calculate closing stock using first in first out (FIFO),last in first out (LIFO) and average cost of stock (AVCO)

Post Trial Balance Adjustments and Provisions
1) Make correct entries within the accounts for accruals and prepayments, depreciation, the provision of doubtful debts and closure of accounts at the year end

Disposal of Fixed Assets
1) Make correct entries in the accounts for the disposal of fixed assets including part exchange
2) Transfer the profit or loss on the disposal of a fixed asset to the profit and loss account
3) Calculate depreciation of remaining fixed assets after disposal (assume full depreciation in the year of acquisition and no depreciation in the year of disposal)

Extended Trial Balance
1) Analyse and develop given information to produce an extended trial balance

Incomplete Records
1) Calculate owners capital account by the compilation of a statement of affairs. Calculate sales and purchases using control accounts or a similar method
2) Using conventional book-keeping procedures, derive any other missing figures from given data
3) Analyse and make use of given data to calculate profit by comparison of capital methods
4) Produce a set of complete final accounts from a set of incomplete records

Concepts
Explain the meaning of the terms business entity, going concern and accruals concept

Partnerships
1)Explain the legal aspects of a partnership formation
2) Compile trading, profit and loss and appropriation accounts, together with a balance sheet for a partnership
3) Compile partners capital and current account
4) Apply profit sharing ratio changes to partnership accounts
5) Produce the necessary calculations for the admission of a new partner and the retirement of a partner including treatment of goodwill

Manufacturing Accounts
1)Prepare the manufacturing account identifying prime cost and total cost of production
2) Prepare a trading and profit and loss account
3) Prepare a balance sheet

Limited Companies
1) Explain the nature of limited liability and company account requirements
2) Understand the need for maintaining a fixed asset register where applicable
3) Produce a set of final accounts for a limited liability company
4) Produce the ledger work required for the issue of shares and debentures

Once students have achieved the Level 3 Diploma there are no further qualifications available for Manual Bookkeeping. You may however consider Level II Certificate in Computerised Bookkeeping and Diploma in Payroll Management.

These courses are available to purchase at the same time and as such enable you to make a saving on the overall costs when purchasing extra levels individually.