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Accounting for Limited Companies:

IAB  Level 4 Diploma in Accounting to International Standards

SINGLE UNIT TITLE: (IAB Code A1) Prepare and appraise financial statements for Limited Companies.

Guided Learning Hours : 90 hours                                           ASSESSMENT TIME: 3 hours

Upon the completion of study for this qualification, it is intended that the candidate will be able to:

• Prepare financial statements for a limited company in a format suitable for internal use
• Understand the significance and scope of the Regulatory Framework
• Understand the purpose of the Conceptual Framework
• Identify users of financial statements
• Prepare financial statements in a published format in accordance with International Accounting Standards requirements
• Prepare a Cash Flow Statement in accordance with International Accounting Standards requirements
• Prepare Consolidate financial statements
• Use accounting ratios and interpret performance 

AIMS

In summary, the qualification aims to enable candidates to:

• Assess their competence and understanding in the legal structure of accounting for limited companies in the UK and preparing published accounts to a the recognised standards in both the UK and to International Accounting Standards
• To assess their understanding of the importance of maintaining accuracy, security and integrity in performing any accounting function using a manual accounting system.
• Progressing to qualifications offered by professional Accounting bodies.

TARGET GROUP

The IAB Book-keeping and Accounting qualifications at this Level are specifically designed to appeal to those who are aspiring to become, or who are already, professional book-keepers,  accounts administrators or as a foundation to the study of accountancy.

This Level 4 qualification is primarily designed for the following candidates:
1        Those who already have a degree of senior book-keeping experience and who wish to acquire further skills and knowledge required of Accounting Administrators.
2        Those candidates who already hold the IAB Level 3 Diploma.
3        Those who are already employed as Senior Book-keepers or Accounting Technicians or allied roles and who wish to enhance there firm foundation and the knowledge and skills to perform some advanced routine and non-routine tasks.
4        Those preparing for or undertaking an NVQ in Accounting at Level 4 who wish to underpin this with a thorough grounding in the fundamental technical knowledge, understanding and skills associated with producing and processing accounting functions at that level.
5        Those who may wish to continue to a higher level of study in Accounting and related subjects and qualifications.

STATEMENT OF LEVEL

This qualification has been designed to assess the knowledge and skills of manual Accounting at Level 4 of the National Qualifications Framework.

ENTRY REQUIREMENTS

It is recommended that before commencing a course leading to the IAB Level 4 Diploma in Accounting to International Standards the prospective student has already achieved the IAB Level 3 Diploma in Accounting and Advanced Book-keeping.  Alternatively, they should have comparable prior knowledge and skills acquired through paid or voluntary work experience. 

THE STRUCTURE OF THE QUALIFICATION

The Level 4 qualification is a single unit qualification examined by means of a 3 hour examination.  It contains the manual aspects of the syllabus and comprises eight mandatory Learning Outcomes with associated Assessment Criteria.  It should be noted that the qualification only contains work in a manual environment.
It is considered that each Unit has a ‘notional’ estimate of 90 Guided Learning Hours (GLH).

CERTIFICATION
All candidates who achieve a Pass grade will receive a Certificate for the successful completion of IAB Level 4 Diploma in Accounting to International Accounting Standards.

IAB LEVEL 4 DIPLOMA IN ACCOUNTING TO INTERNATIONAL STANDARDS

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