IAB Level 3 Certificate in Computerised Accounting for Business QCF Distance Learning Training Course

Course Summary

• Designed to provide the more advanced knowledge of bookkeeping and Sage 50 accounts.
• Intended for individuals who already have a good working knowledge of Sage 50 accounts and wish to further their studies.
• Building on the Level 2 Certificate in Computerised Accounting for Business this course provides the additional knowledge required to prepare the accounts for different types of business.
• Enables better financial management and control of business.
• A Level 3 professional bookkeeping qualification leading to MIAB status on application.

Full Details:

Units:

• Principles of double entry bookkeeping - A/601/0698 (2 credits)
• Principles of accounting for not for profit organisations - Y/601/0725 (1 credit)
• Fundamentals of incomplete records - A/601/0717 (1 credit)
• Fundamentals of bookkeeping and accounting for partnerships - L/601/0723 (1 credit)
• Principles of preparing financial statements for sole traders - R/601/0707 (1 credit)
• Principles of VAT - A/505/1094 (2 credits)
• Principles of cash management - R/600/4938 (2 credits)
• Cash management -L/600/4940 (3 credits)
• Preparing and completing VAT returns – J/600/4953 (2 credits)
• Computerised Accounting Software – L/502/4403 (5 credits)

Course Contents

Knowledge Units:

Principles of Double Entry Bookkeeping – Basic Principles and Concepts
How the dual aspect concept underpins the process of double entry bookkeeping
Defining the elements within the accounting equation and how the elements within the equation are inter-related
How the main ledger, subsidiary ledgers, cash book and books of prime entry are used in recording financial transactions

Principles of Double Entry Bookkeeping – Accounting Concepts, Policies and Standards
How the accounting concept of going concern, accruals (matching), prudence and consistency are used in the preparation of financial statements
Recognising and explaining the use of other accounting concepts – dual aspect, realisation, objectivity and materiality
The importance of qualitative characteristics of relevance, reliability, ease of understanding and comparability to the preparation and presentation of financial statements

Principles of VAT
Current VAT regulations
Completing VAT returns accurately and in a timely manner
Communicating VAT information

Principles of Preparing Financial Statements for a Sole Trader – The Trial Balance and Bookkeeping Errors
The form and function of the trial balance
The purpose of the suspense account

Principles of Preparing Financial Statements for a Sole Trader – Prepare Financial Statements for a Sole Trader
The form and function of the financial statements
The form and function of the extended trial balance

Principles of Double Entry Bookkeeping – Stock Valuation
The purpose and use of stock valuation

Principles of Double Entry Bookkeeping – Accounting for Prepayments and Accruals
The process of accounting for prepayments and accruals

Principles of Double Entry Bookkeeping – Accounting for Depreciation
The process of accounting for fixed assets

Principles of Double Entry Bookkeeping – Accounting for Bad and Doubtful Debts
The process of accounting for bad and doubtful debts

Fundamentals of Bookkeeping and Accounting for Partnerships
The partnership structure as a form of business entity
The legislation relating to partnerships
Specific accounts used in partnership accounting
The procedures necessary to account for the changes in the structure of a partnership

Fundamentals of Incomplete Records
Single entry bookkeeping
The process of constructing ledger accounts from incomplete records

Principles of Accounting for Not for Profit Organisations
The terminology relating to not for profit organisations
The purpose of a receipts and payment account
The function of financial statements prepared for a not for profit organisation

Principles of Cash Management
How the external environment impacts on how an organisation manages cash assets
Making informed decisions regarding the management of cash balances within an organisation
The range of accounting and other business techniques used to improve the efficiency of cash management procedures within an organisation

Skills Unit:

• Creating a Chart of Accounts to Suit Company Requirements
• Sole Trader Accounts
• Entering Opening Nominal Ledger Balances
• The Trial Balance
• Errors in the Trial Balance
• Disputed Items
• Use of the Journal
• Prepare and Process Month End Routine
• Contra Entries
• The Government Gateway and VAT Returns
• Bad Debts and Provision for Doubtful Debts
• Stock Valuation, Stock Control, Work in Progress and Finished Goods
• Prepare and Produce Final Accounts
• Extended Trial Balance
• Exporting Data including Linking to Other Systems
• Management Information Reports
• Making Decisions with Reports Using Sage
• Prepare and Process Year End Accounts and Archive Data
• Final Accounts for Partnerships including Appropriation Accounts
• The Fixed Asset Register and Depreciation
• Accruals and Prepayments
• Cash Flow and Forecast Reports
• Advanced Credit Control
• Not for Profit Organisations

Entry Requirement

There are no formal entry requirements for the Level 3 Certificate in Computerised Accounting for Business.  However, it is recommended that prospective candidates will already have basic skills in numeracy, literacy and information technology and experience of using an accounting software package up to the Trial Balance. The successful completion of the IAB Level 2 Certificate in Computerised Accounting for Business (QCF), would allow natural progression to this Level 3 qualification.

Certification

On successful completion of all units, the learner will receive a certificate to confirm the achievement of the Level 3 Certificate in Computerised Accounting for Business (QCF).  The certificate will include the full name and accreditation number of the qualification and the award of Pass.

The learner will also receive a certificate from Sage confirming their competence in the use of Sage accounting at Level 3.

Benefits for Trainees:

• IAB Qualifications open new doors to exciting careers, as well as extending business accounting and payroll skills if you are currently employed
• Start your own business
• Work in small businesses
• A career in bookkeeping can lead to great things
• Update your knowledge of Sage
• Improve your employability prospects
• A career path into Bookkeeping or Accountancy
• Ideal Continuing Professional Development course
• Gain an IAB qualification and become a Professional Bookkeeper
• Accountancy trainees gain exemptions by building recognised credits
• Gain an accredited qualification - with possible progression to a degree in computerised accounting whilst continuing working
• Start your training immediately without having to wait for the new term to begin

Benefits for Employers:

• Up-skill your workforce
• Train key staff members in the features of the latest Sage 50 program
• Try program before buying
• Train staff in how to computerise manual accounts
• Learn how your staff can prepare up-to-date management reports and accounts in house and save money on accountants fees
• Start-up businesses- teach staff to keep financial records
• Train your employees how they can improve your company's Cash flow, Credit Control and your bottom line profitability
• Get the most out of the Sage 50 program - 80% of Sage 50 users only use 20% of their program
• Employers have a benchmark qualification they can use to judge an individual's ability
• Instead of accepting an applicant's word they know the Sage Program, employers now have the certainty of Sage and IAB certificates

• What's included in the course:

  • Knowledge Units Workbook
  • Skills Unit (Sage) Workbook
  • Sage 50 Accounts Professional disc
  • Telephone support
  • Email support
  • Remote support
  • NUS card - value £12
  • 2 Certificates on successful completion of course