What are the ICB Level 3 Certificate in Bookkeeping and Accounts online course modules?
The ICB Level 3 course will cover the following modules:
- Underpinning knowledge
- Final accounts of non-incorporated businesses
- Reconciliation of accounts and correction of errors
- VAT Returns
- Calculate and post adjustments to the ledgers
ICB Level 3 Certificate in Bookkeeping and Accounts Exams
The exam consists of 3 online assessments that you take from home or work, and 1 assessment that you can take at a registered external ICB centre.
What does ICB Level 3 Certificate in Bookkeeping and Accounts online course cover?
During this course, you will learn:
- Why it is essential to adhere to a set of ethical principles.
- How and when it is appropriate to take action in the event of unethical behaviour in the workplace.
- The definition, and correct application, of specific terms including business entity, going historical cost, consistency and prudence and accruals.
- The legal requirements and obligations involved in the process of forming a partnership.
- How to understand, and competently demonstrate, different ways of processing VAT for both EU and non-EU transactions.
- To understand the different types of VAT management systems including the VAT Margin Scheme.
By the end of the course you will be able to confidently carry out the following tasks to the appropriate industry standard:
- Prepare a bank reconciliation statement for a business/company/organisation.
- Account for VAT and prepare a VAT return to an acceptable industry standard.
- Prepare a ledger account for the purposes of recording the disposal of a fixed asset.
- Calculate any profit or loss caused by the disposal of a fixed asset, and record these findings in accordance with current regulation and best practices.
- Calculate adjustments to accounts when and if appropriate.
- Prepare the final accounts for almost any type of non-incorporated business - this would include calculating, processing and accurately recording any adjustments made to the account in question, including:
- Opening and closing stock
- Financial provisions for doubtful debt
- Depreciation of fixed assets