Self Employed Bookkeeper Package - (MICB) Ltd Companies

MICB Bookkeeping package. Looking to fully qualify as a self employed bookkeeper? Then this is the course for you. This course covers all three stages of the ICB career path. Commencing with the basics at level 2, then onto level 3 and completing with the advanced bookkeeping level 4. A fantastic package at a reduced fee.

Succesfull students will be able to gain employment as a bookkeeper or indeed become self employed offering a service to paying clients, producing draft year end accounts for limited companies and limited liability partnerships in both manual and computerised formats using sage accounts software. Use letters MICB after your name upon completion.

Qualification: Levels 2,3 & 4 Certificates in Bookkeeping & Accounts
Accredited: Yes
QCF Recognised: No
Industry Recognised: Yes
Awarding Body: ICB- Institute of Certified Bookkeepers
Start Date: Anytime - We enrol 365 days a year
Duration: Flexible - Approx 360 Hours - 24 Months Max Support
Credit Value: Not Applicable

Course fees include all materials, Sage software & 24 months Support (Exam fees not included)

Exam fees are payable direct to the ICB at time of exam booking

3 x Level 2 Papers = Total exam fees £90.00
4 x Level 3 Papers = Total exam fees £170.00
2 x Level 4 Papers = Total exam fees £145.00

Level 2 Syllabus

Underpinning Knowledge

• Importance of adhering to a code of Professional Ethics
• Basic differences between the structures of different types of businesses
• Importance of legislation that applies to bookkeepers
• Basic elements of a contract
• Accounting Equation
• Concept of reporting on a cash basis for income tax purposes
• Various of methods of payments and receipts to and from a bank account
• Need for bank security
• Basic accounting concepts

Business Documents

• Purpose and range of business documents
• Need to accurately prepare business documents for goods supplied
• Need to check business documents received

Ledger Accounts

• The purpose of, and make entries into, the ledger accounts
• A set of control accounts in the ledgers

Books of Prime Entry

• Understand the purpose of, and make entries into, the books of prime entry

Accounting for VAT

• Understand the process of dealing with and accounting for VAT in the ledgers

Making and receiving payments

• Use of an analysed cash book
• Purpose and need to record petty cash
• Purpose and use of the two and three column cash books

The Trial Balance

• Understand the purpose and use of the trial balance

Use a computerised package

• Health and safety
• Business set up
• Processing nominal ledger and subsidiary ledger accounts
• Generate reports 

Level 3 Syllabus

Underpinning Knowledge

• Understand the importance of adhering to a code of ethical principles
• Understand when and how to take appropriate action to cope with unethical behaviour
• Understand the legal differences between the various structures of various types of businesses
• Understand the main accounting concepts that apply
• Understand the different rules that apply when processing VAT transactions

Reconciliation of Accounts and Correction of Errors

• Reconcile supplier statements
• Prepare a bank reconciliation statement
• Use control accounts to reconcile sales and purchase ledgers
• Understand the need to correct errors

VAT Returns

• Reconcile the VAT account
• Complete a VAT return

Calculate and Post Adjustments to the Ledgers

• Calculate depreciation
• Account for the disposal of fixed assets
• Understand the need to allow for adjustments to the accounts

Final Accounts of Non-Incorporated Businesses

• Prepare a set of final accounts for a sole trader from a given trial balance
• Prepare a set of final accounts for a not-for-profit organisation
• Prepare a set of final accounts for a partnership

Computerised Bookkeeping

Partnership

• Set-up
• Intangible Assets
• Goodwill
• Division of profits
• Chart of Accounts & Year-End Procedure.

Not for Profit Organisations

• Set-up
• Prepaid/Accrued Subscriptions
• Donations

Level 4 Syllabus

Limited Company Accounts

• Prepare a set of final accounts for a limited company
• Ddefine the term Limited Liability
• Understand its legal status
• Identify sources of capital – shares and debentures
• Distinguish between capital and revenue reserves
• Define shareholders’ equity
• Account for the issue of shares and debentures
• Account for dividends paid
• Prepare a set of final accounts to include adjustments and provisions, debenture interest paid and accrued, treatment of dividends and provision for corporation tax.

Limited Liability Partnerships

• Understand the nature of a limited liability partnership
• Understand the reasons for setting up a limited liability partnership
• Explain the limit of the liability
• Prepare a set of final accounts for a limited liability partnership (internal management accounts only)

Incomplete Records

• Prepare a set of final accounts for incomplete records
• Determine the opening value of capital through the accounting equation
• Determine bank and cash balances
• Prepare ledger accounts to determine missing values for sales and purchases using mark up and margin, expenses and drawings
• Identify capital expenditure
• Identify stock loss
• Prepare adjustments for accruals and prepayments
• Prepare profit and loss account and balance sheet (manual system only)

Advanced Partnership Accounts

• Account for changes in a partnership
• Prepare accounting entries for a change of profit sharing ratio including the admission and retirement of a partner
• Account for the treatment of goodwill on such a change in partners
• Account for a revaluation of assets in a partnership

Interpretation of Financial Statements

• Understand the importance of interpreting financial statements for internal management purposes.
• Understand the link between profitability and liquidity.
• Have an awareness of the problems that might arise if long term borrowing is significantly high in relation to capital invested in the business.
• Analyse and interpret financial statements.
• Calculate profitability ratios, liquidity/working capital ratios