ICB – Level 2 Bookkeeping

This is a fully accredited course within ICB (Institute of Certified Bookkeepers) framework. Level 2 is the beginner level of the ICB qualification (incorporating the old level 1). It consists of Manual Bookkeeping courses and a Computerised Bookkeeping course.

The computerised accounting section of the course is based around Sage Accounting.

This is all of the ICB Level II, including both ICB Manual and Computerised Modules. This will prepare you for the Paper B1, B2 and B3 assessments. The price is discounted in this package, compared to buying each item separately.

Course Format:

The course is delivered by distance learning. The course is supported by the tutor who is a Chartered Accountant. The course consists of numerous practical exercises which are checked and fed back to you by your tutor. These practical exercises are essential to the learning process in bookkeeping and finance. ICB membership and ICB study booklets are included in the cost of the course.

You can however use any computerised system to complete the training.

Course Aim:

To build a solid understanding of basic bookkeeping and to prepare the student for ICB tests.

Syllabus Detail:

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

Course Content

Paper B1 – Basic double-entry bookkeeping to trial balance

• Underpinning knowledge (10% weighting)
  
  • terms in bookkeeping (assets, liabilities etc.)
  • banking procedures
  • understanding the different categories of VAT (standard, reduced, zero, exempt, outside the scope)
• Calculation of business documents including calculation of VAT (20% weighting)
• Entering transactions into the ledgers including the analysed cash book, cash transactions, credit transactions, discounts, petty cash book, two column cash book and VAT (40% weighting)
• Making and receiving payments (20% weighting)
• Production and explanation of a trial balance (10% weighting)

Paper B2 – Further double entry bookkeeping to trial balance

• Underpinning knowledge (10% weighting)
  
  • ethics
  • legislation
  • types of businesses including simple cash based businesses
  • identifying sections of the ledger
  • accounting concepts
• Further double entry including the following (60% weighting)
  
  • Topics from paper 1
  • Day books and control accounts in a double-entry system
  • Writing off a bad debt
  • Construction Industry Scheme
  • Non-sole trader entries (subscriptions, donations, drawings of partners etc)
• Making and receiving payments (20% weighting)
  
  • Three column cash book
  • The analysed cash book
• Production and explanation of a trial balance (10% weighting)

Paper B3– Computerised Bookkeeping

- Start a Business Accounts

Open the bookkeeping software and set up the details for new business

- Process Nominal and Sub Ledger Accounts

Record financial transactions in the appropriate ledger accounts with the use of account coding: Credit and Cash Sale, Credit and Cash purchases, Sales Returns, Purchase Returns, Supplier Invoices, Customer Invoices, Bad Debts, Payroll in the accounts, Debtor management, creditor management.

- How to go about the correction of errors in the system

Journals to amend errors caused by typical mistakes

- Bank Reconciliation

How to do a Rec and then adjust cash book to bank book. Publish a final bank reconciliation statement.

- Trial Balance

Print out and generate a final trial balance and try to identify discrepancies or mistakes. Create journals to correct errors and produce revised TB.

- Generate Reports

What is an Audit trail and why we need to use reports for an audit trail. Sales and purchase ledger accounts, other nominal ledger accounts and the VAT return.

- Final Accounts - Sole Trader

Generate a Trading, Profit and Loss Account and Balance Sheet that include adjustment for Closing stock, Prepayments, Accruals, Depreciation; both straight line and reducing balance and bad debts write off

- Health and Safety

Learn an awareness of health and safety issues when using computer systems

This course starts from the basics and there are no pre-requisites.

The course is ideal for anyone who wants to get a sound basis of skills to pursue a career in finance.

You can also start your own Bookkeeping practice and be your own boss, once you have completed the Level 3 qualification. You can purchase Level 2 and Level 3 from Souters at a discounted price.

There are no pre-requisites for this course. The course is set a beginner level.

The ICB is a highly recognised Institute for Bookkeeping and Accounting training. Once you have completed Level 2, you will be able to continue to Level 3. At this level, you learn how to complete accounts and ultimately become an Associate of the ICB.

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