You can start your own bookkeeping business once you have completed this course and passed the ICB’s examinations (levels I & II) and applied for the Institute's Practicing Certificate (Visit http://www.book-keepers.org/members_area/self_employed/ for more information).

The Practising Certificate is now a compulsory requirement under the new Money Laundering Legislation. The ICB is always on hand to provide free advice and guidance. Whatever your commitments, bookkeeping is an ideal career choice for those wanting to run a business and suit their lifestyle.

What Will I Learn?

This is a sound foundation course for anyone working or wishing to work in bookkeeping, including:

• Business owners
• Administration or accounts employees
• Anyone wishing to start a self-employed bookkeeping business
• Anyone seeking a career as a bookkeeper

Gaining this qualification will add value to your CV, increase your job opportunities and tells potential employers that you are serious about the profession.

COURSE CONTENT

Level I and II consists of a total of 12 lessons, and focuses mainly on small businesses and a career in bookkeeping.

Level I - duration: 50 hours

1. Introduction - The Nature and Function of Accounting
This first lesson covers the basic purpose and scope of bookkeeping for service firms, the uses of financial information, and accounting standards and conventions.

2. Analysing and Designing account Systems
How to set up a bookkeeping system, the steps in the operation of the system and additonal information on other business documents.

3. Balance Sheet
The use and and purpose of balance sheets. The balance sheet is like  a snapshot of the business at a particular point in time. Every transaction affects the balance sheet in some way.

4. Double Entry Bookkeeping Recording Process
Step by step instructions on how to set up  double entry bookkeeping.

5. Books of Original Entry
The need for and function of 'special journals'. Journals represent  the start of the recording process and are often referred to as books of original entry.

6. Accounting for VAT
Understandng the VAT process and the methodologies employed for VAT calculations, how to complete  the VAT 100 Form and the entries required  to record VAT transactions for sales, purchases and expenses.

Level II - duration: 50 hours

7. General Journal
Set up and use a "general journal" and the appropriate ways of closing ledger accounts at the end of  an accounting period.

8.  Profit and Loss Statement
Prepare a Profit and Loss statement. The profit report is prepared using the balances of the revenue and expenses accounts which are transferred  to the Profit  and Loss account.

9. Depreciation on Non-Current Assets
Determine appropriate  approaches to depreciation of non-current assets. Depreciation is the allocation of the cost of a non-current asset to the accounting period in  which it  helps to earn revenue.

10. Profit Determination and Balance Day Adjustments
The 'accrual' and 'cash' basis of accounting, the matching process, and the  need for balance day adjustments.

11. Cash Control: Bank Reconciliation and Petty Cash
Understand the cash cycle, the need for control over cash , the various methods used in controlling cash, the need for the bank reconciliation processes and the petty cash system.

12. Cash Control: Budgeting
A budget is a financial plan of action. A cash budget sets out the cash inflows and cash outflows which a business needs to undertake in order to achieve its financial goals.  Budgeting is a vital part of the business decision-making process.

Each lesson culminates in an assignment which is submitted to the college, marked by the college's tutors and returned to you with any relevant suggestions, comments, and if necessary, extra reading. Students have unlimited tutor support.

AIMS

• Explain types of balance sheets, assets, liabilities.
• Design an accounting process.
• Utilize ledgers, transaction records, trial balances.
• Define what a business's liquidity is and the two calculations used to measure it.
• Prepare a credit sales journal
• Prepare a credit purchase journal
• Post a sales journal to the general ledger
• Post a purchases journal to the general ledger
• Describe VAT

Sample Lesson

To view a sample lesson please  click here. This is a good way to see the quality of the notes and their ease of understanding.