THE STRUCTURE OF THE QUALIFICATION

The Level 3 qualification is divided into two separately examined Units

Unit 1 - This Unit is divided into nine mandatory Learning Outcomes with associated Assessment Criteria.

Unit 2 – This Unit is divided into seven mandatory Learning Outcomes with associated Assessment Criteria.

IAB Level 3 – Certificate in Book-keeping

Unit 1   – Applying Accounting Adjustments

Aim of the Unit

·         Understand the Form and Function of the Trading, Profit and Loss Account and Balance Sheet

·         Understand and Apply Accounting Concepts and Accounting Policies

·         Categorise Income and Expenditure

·         Make Accounting Adjustments relating to Stock

·         Make Accounting Adjustments relating to Depreciation

·         Make Accounting Adjustments relating to Prepayments and Accruals

·         Manage Credit Control

·         Make Accounting Adjustments relating to Provisions for Doubtful Debts

·         Prepare basic Financial Statements for a Sole Trader

 

IAB Level 3 – Certificate in Book-keeping

 

Unit 2  – Using Accounting Adjustments for the preparation of Financial Statements

 

Aim of the Unit

 

Upon the completion of study for this unit, it is intended that the candidate will be able to prepare Financial Statements incorporating postings from the Ledgers by:

 

·         Make further Accounting Adjustments for Stock

·         Make further Accounting Adjustments for Depreciation of tangible Fixed Assets

·         Make Further Accounting Adjustments for Prepayments and Accruals

·         Make Further Accounting Adjustments for Bad Debts and Provisions for Doubtful Debts

·         Prepare an Extended Trial Balance

·         Prepare complex Financial Statements for a Sole Trader

·         Apply knowledge relating to Partnerships

·         Prepare Financial Statements for ‘Not for Profit’ Organisations.

 

 

 

 

 

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