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IAB LEVEL 3 DIPLOMA IN ACCOUNTING AND ADVANCED BOOK-KEEPING

SINGLE UNIT TITLE:  Record Adjustments and prepare financial statements

Guided Learning Hours: 90 hours                                            ASSESSMENT TIME: 2 x 2 hours

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

  • Use a Suspense Account and eliminate book-keeping errors
  • Understand the form and function of the Trading Account, Profit and Loss Account and Balance Sheet
  • Understand and apply accounting concepts and accounting policies
  • Categorise items of income and expenditure
  • Maintain records and make accounting adjustments relating to stock
  • Maintain records and make accounting adjustments for prepayments and accruals
  • Maintain records and account for the depreciation and disposal of tangible fixed assets
  • Maintain records and account for bad and doubtful debts
  • Prepare financial statements for a sole trader
  • Prepare and extended Trial Balance for a sole trader
  • Prepare financial statements for a sole trader from incomplete records
  • Prepare financial statements for a ‘Not for Profit’ organisation
  • Maintain records and prepare financial statements for a partnership
  • Account for changes in the composition of a partnership


Woodgrove Tutorials is an Accredited Distance Learning Training Centre for the International Association of Bookkeepers (IAB) Courses. We offer these courses!
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Woodgrove Tutorials is an Accredited Distance Learning Training Provider for the Institute of Certified Book-Keepers (ICB). We offer these courses!
Click here for more.