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For the ICB’s website see: www.bookkeepers.org.uk

The Institute of Certified Bookkeepers is the largest bookkeeping institute in the world. It promotes and maintains the standards of bookkeeping as a profession, through the establishment of a series of relevant qualifications and the award of grades of membership that recognise academic attainment, working experience and competence.

Consultation with commerce and industry has confirmed and amplified the Institute’s assessment of the need for qualified bookkeepers. Employers both large and small are fully supportive of the objectives of The Institute of Certified Bookkeepers.

ICB Course prices:

The below prices include your first year's ICB student registration fee (which is currently £45) :-

ICB Level 1 The Certificate in Basic Bookkeeping	£199
ICB Level 11 The Certificate in Manual Bookkeeping	£220
ICB Level 111 The Diploma in Manual Bookkeeping	£270

Examinations Required for Membership

Membership at Associate level (AICB) requires successful completion of the Level I and II examinations. Membership at full Member level (MICB) requires subsequent successful completion of the Level III examination.

SEE BELOW FOR DETAILED SYLLABUS FOR EACH ICB COURSE

ICB COURSES SYLLABUS:

ICB Level I Qualification - The Certificate in Basic Bookkeeping

SYLLABUS:

The Certificate in Basic Bookkeeping covers the basic principles of double entry bookkeeping and how they are used in business. Students must be able to demonstrate their ability to understand and carry out the following functions:

Business Documents
1) Design and produce purchase orders, sales invoices, credit notes and statements of account which include VAT and trade discount
2) Understand the basic law relating to contract, the sale of goods and the retention of documents
3) Understand the nature of different accounting procedures including a simple system for coding business data
4) Understand the need to have an authorisation system for ordering goods
5) Understand the need for a systematic filing system for business documents as part of the general administration of a business
6) Understand the importance of using recognisable documents in a standard house style
7) Understand the various methods of ordering eg fax, internet etc

Books of Original Entry
1) Explain why they are needed and from what source of information they are compiled
2) Explain the principles of the double-entry system and the functions of the books in this regard
3) Draw up the books and enter transactions in them
4) Post from them to the ledger accounts
5) Make opening journal entries from items provided
6) Make journal entries for the purchase of fixed assets
7) Make journal entries for the correction of errors
8) Correctly set up and make entries in a two column cash book
9) Understand the importance of credit control within a business

Credit Control
Explain the importance of credit control ensuring that :
1) Payments are made on time
2) Overdue debts are reviewed

Ledger Accounts
1) Explain their purpose
2) Explain the difference between capital and revenue items, and between real, nominal and personal accounts
3) Explain the significance of debit and credit entries in each of them
4) Make opening entries in them
5) Record the double-entry of transactions for capital and revenue items
6) Calculate and record their balances
7) Write off bad debts
8) Make correct entries for payroll transactions

Trial Balances
1) Explain why they are needed
2) Explain the types of error that they will/will not disclose
3) Explain the action to be taken in the case of non-agreement
4) Correct any errors made in the posting of any transaction not involving the suspense account
5) Prepare such trial balances

Security of data
1) Understand the basic principles of the Data Protection Act
2) Understand the functions and services of banks
3) Describe the treatment of cheques, direct debits, standing orders, credit transfers, giro credits, CHAPS, BACs, credit and debit cards
4) Use cheque books and paying in slips correctly

ICB Level II Qualification -The Certificate in Manual Bookkeeping

SYLLABUS:

Students must be able to demonstrate their ability to understand and carry out the following functions:

VAT Returns
1) Show an understanding of the requirements for making VAT returns
2) Prepare VAT returns
3) Explain the balancing figure on the VAT return and its implications for the business

Cash Books
1) Explain the imprest system for dealing with petty cash
2) Enter opening balances and transactions into a petty cash book
3) Calculate and bring down balances
4) Restore the imprest
5) Post the analysed totals to the relevant ledger accounts
6) Set up a three column cash book and post relevant items including cash discounts involving VAT

Reconcile Sales and Purchases Ledger Accounts
1) Explain the need for reconciling the sales and purchases ledger accounts
2) Explain how discrepancies in the reconciliation can occur
3) Carry out a reconciliation of the sales and purchases ledger accounts

Correction of Errors
1) Correct errors in the accounts including those involving the suspense account

Bank Reconciliation Statements
1) Explain the discrepancies between bank statements and the bank columns of cash books
2) Update the cash book
3) Prepare such statements

Trading and Profit and Loss Account for a Sole Trader
1) Explain their purpose
2) Prepare them from
   i) Ledger accounts
   ii) Trial balances
   iii) Lists of balances
3) Derive and explain
   i) Gross profit (or loss)
   ii) Net profit (or loss)
   iii) Cost of goods sold
4) Adjust the trading, profit and loss account for
   i) Depreciation (straight line and reducing balance Methods)
   ii) Prepayments and Accruals
   iii) Bad debts

Balance sheet for a Sole Trader
1) Explain their purpose
2) Compile them from ledger accounts and a trading and profit and loss account
3) Explain the meaning of:
   i) Capital
   ii) Debtors and creditors
   iii) Fixed and current assets

Year End Ledger Entries
1) Close off the ledger accounts at the year end making allowances for depreciation, prepayments and accruals

Level III Qualification - The Diploma in Manual Bookkeeping

SYLLABUS:

Having achieved the Level II qualification students may progress to the Level III Diploma. If applying for the Level III in Manual Bookkeeping, students must pass the Level II Certificate in Manual Bookkeeping first. Students must be able to demonstrate their ability to understand and carry out the following functions:

Data Protection
1) Demonstrate an understanding of the principles of the Data Protection Act

Stock Valuation
Prepare stock valuations and be able to:
1) Explain the accounting concept relevant to stock valuation
2) Apply methods of FIFO and AVCO
3) Calculate the value of stock

Post Trial Balance Adjustments and Provisions
1) Make correct entries within the accounts for accruals and prepayments, depreciation, the provision of doubtful debts and closure of accounts at the year end

Disposal of Fixed Assets
1) Make correct entries in the accounts for the disposal of fixed assets including part exchange
2) Transfer the profit or loss on the disposal of a fixed asset to the profit and loss account
3) Calculate depreciation of remaining fixed assets after disposal (assume full depreciation in the year of acquisition and no depreciation in the year of disposal)

Extended Trial Balance
1) Analyse and develop given information to produce an extended trial balance

Incomplete Records
1) Calculate owner's capital account by the compilation of a statement of affairs. Calculate sales and purchases using control accounts or a similar method
2) Using conventional book-keeping procedures, derive any other missing figures from given data
3) Analyse and make use of given data to calculate profit by comparison of capital methods
4) Produce a set of complete final accounts from a set of incomplete records

Concepts
1) Explain the meaning of the terms business entity, going concern and accruals concept

Partnerships
1)Explain the legal aspects of a partnership formation
2) Compile trading, profit and loss and appropriation accounts, together with a balance sheet for a partnership
3) Compile partners capital and current account
4) Apply profit sharing ratio changes to partnership accounts
5) Produce the necessary calculations for the admission of a new partner and the retirement of a partner including treatment of goodwill

Limited Companies
1) Explain the nature of limited liability and company account requirements
2) Understand the need for maintaining a fixed asset register where applicable
3) Produce a set of final accounts for a limited liability company
4) Produce the ledger work required for the issue of shares and debentures

Non-Profit Making Organisations
1) Prepare a statement of affairs
2) Accurately prepare a receipts and payments account
3) Make adjustments to the accounts with regard to the accruals and prepayments of income and expenditure items including subscriptions
4) Prepare an income and expenditure account
5) Prepare a balance sheet

ICB Examinations:

Home-Based Examinations
The Level 1 Certificate in Basic Bookkeeping, exam papers are sent to the student for completion and return within two weeks.

Centre-Based Examinations
Examinations for the Level 2 Certificate and Level 3 Diploma in Manual Bookkeeping, are held in February, June and October. Examinations will be taken at your closest available examination centre.

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