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IAB Level 3 – Diploma in Accounting and Advanced

Book-keeping

THE STRUCTURE OF THE QUALIFICATION

The Level 3 qualification is divided into two separately examined Units

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

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

IAB Level 3 – Diploma in Accounting and Advanced

Book-keeping

Unit 1  – Valuing Assets and Preparing Complex Statements

Aim of the Unit

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

·         Eliminate Book-keeping Errors using a Suspense Account

·         Prepare Reconciliations following the tracing of Errors

·         Compile a Fixed Asset Register and account for the Disposal and Depreciation of tangible Fixed Assets

·         Make complex Accounting Adjustments relating to Stock

·         Prepare complex Financial Statements for a Sole Trader or Partnership.

IAB Level 3 –   Diploma in Accounting and Advanced Book-keeping

Unit 2  –   Preparing complex Financial Statements

Aim of the Unit

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

·         Prepare Financial Statements from the Incomplete Records of a business organisation

·         Account for changes in the composition of a Partnership

·         Prepare Financial Statements for a Limited Company

·         Prepare a Manufacturing Account

·         Use Account Ratios to interpret performance

·         Prepare basic Consolidation Accounts (Balance Sheet)

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