Course overview
As well as providing an excellent knowledge base in bookkeeping and accounting, this IAB bundle is ideal for students who want to achieve a career in bookkeeping and accounts and for learners who want to boost their skills and progress in their current career.
Recognition
Study method
- Online
- Blended
- In-class
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Duration study load
Once enrolled, you can start at any time and will have three years to complete this bundle (one year per level). You will also receive 12 months of tutor support for each level, so you can work at your own pace.
Entry requirements
There are no specific entry requirements for this course.
Course features
- Dedicated personal tutor support
- Dedicated student support
- Assignment marking and feedback
- IAB registration fee
- Free CV critique service
- Free employability guide to help you impress future employers
- Free XO Student Discounts card
- Comprehensive study guide
- Open Study College pen and highlighter
- Student study planner
- Student notebook
- Document wallet
Assessment
During this course, you will complete a number of tutor-marked assignments in preparation for your official assessments.
For the Level 1 Award in Bookkeeping, as part of your official assessment, you will complete 3 online knowledge tests. For the Level 2 Certificate in Bookkeeping, as part of your official assessment, you will complete two online knowledge tests, two online assignments and an examination. For the Level 3 Certificate in Bookkeeping and Accounts, as part of your official assessment, you will complete one online knowledge test, two online assignments and an examination.
All online knowledge tests and assignments for this course are completed using the IAB online testing platform and are subject to a time constraint. All IAB examinations will be completed under controlled conditions at an external venue. You will be responsible for booking and paying for these external exams but we are able to assist with finding a venue.
Delivery
This course is designed for study by distance learning at home or at work. You will receive a course pack containing all study materials, as well as support and assignment marking from a personal tutor.
Subjects
- Basics of double-entry bookkeeping
- Bookkeeping terms
- Source documents and their purpose
- Basics of VAT
- Purpose of trial balance and petty cash and bank reconciliations
- Using the journal
- Recording transactions in a double-entry bookkeeping system
- Preparing a trial balance
- Reconcile the petty cash balance
- Prepare a bank reconciliation statement
- Basics of bookkeeping and bookkeeping systems
- Terms used by bookkeepers
- Source documents and their purpose
- Sub-divided bookkeeping system
- Basics of the VAT system
- HMRC VAT rules
- VAT control account and VAT return
- Role of banks and building societies
- How businesses use financial services
- Methods of payment and their features
- Security measures and procedures for the safekeeping of cash
- Prepare documents to be issued to customers
- Checking documents received from suppliers
- Preparing documents to be issued to suppliers
- Preparing a petty cash voucher
- Day books
- Analysed cash book
- Petty cash book
- Journal
- Trial balance
- Control accounts and reconcile control account balances
- Reconcile the bank current account balance
- Purpose of accounting concepts and standards
- The qualitative characteristics of financial information
- Accounting for a stock valuation
- Accounting for fixed assets
- Accounting for prepayments and accruals
- Accounting for bad and doubtful debts
- The purpose of a trial balance and a suspense account
- The purpose of financial statements
- The purpose of the extended trial balance
- The principles of accounting for partnerships
- The process of accounting from incomplete records
- The principles of accounting for not for profit organisations
- Account for a stock valuation
- Account for fixed assets
- Account for prepayments and accruals
- Account for bad and doubtful debts
- Prepare a trial balance and correct errors
- Prepare financial statements for a sole trader
- Prepare an extended trial balance
- Prepare financial statements for a partnership
- Calculate capital or accumulated funds from incomplete data
- Construct accounts and a trial balance from incomplete records
- Prepare financial statements from incomplete records
About Open Study College
At Open Study College we have helped more than 90,000 students over the last 13 years to enrol on courses that have helped them to achieve their goals.
Offering over 650 courses ranging from childcare to beauty therapy, we have something for everybody. All of our qualifications are independently accredited by established awarding organisations to provide courses such as A-Levels, GCSEs, and CACHE.
We have a fantastic team of expert tutors, knowledgeable and friendly student advisors and a caring student support team. We’re dedicated to supporting our students and pride ourselves on our service and care. We’re also proud to be rated 4.8 out of 5 stars on Trustpilot from over 1,500 reviews.
Family, respect and compassion are just some of the core values our company is built upon. Everyone’s lives are different and we want to ensure that no matter what your situation is, you’re able to get to where you need to. Whether that’s developing your current job, embarking on a brand new career, or fuelling a hobby, we have the course for you.
