Accounting & Advanced Book-keeping: IAB Level 3 Diploma
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Various scenarios are covered including the preparation of Financial Statements for non-profit making organisations and from a set of incomplete records. Learn how to eliminate errors, use a Suspense Account, and calculations relating to stock, prepayments, accruals and bad debts. Appreciation of the importance of accuracy, integrity and security of data will become second nature to you.
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Further Details
Pre-requisites
No previous experience is required to access this course. It is recommended that you have already achieved the IAB Level 2 Certificate in Book-keeping or have relevant experience in book-keeping.
Qualification
IAB Level 3 Diploma in Accounting & Advanced Book-keeping
Support and benefits
This qualification allows you to apply to the Association to become a member and use the letters MIAB after your name, offering you a wider choice of career opportunities
Access to a dedicated tutor and student advisors to guide you through your studies
Professionally developed study units
Key topics
Suspense Accounts and Book-keeping Errors
Learn how to use a Suspense Account and how to eliminate book-keeping errors.
The Trading Account, the Profit and Loss Account and the Balance Sheet
Examine the form and function of the Trading Account, the Profit and Loss Account and the Balance Sheet.
Accounting Concepts and Accounting Policies
Learn the various accounting concepts and policies, and how these should be applied.
Items of Income and Expenditure
Learn how to categorise items of income and expenditure for the purpose of preparing financial statements.
The Maintaining of Records and Accounting Adjustments
Learn how to maintain records. Examine how to make adjustments to account for stock, as well as for prepayments and accruals. Discover how to account for the depreciation and disposal of fixed assets, as well as for bad and doubtful debts.
Sole Traders
Discover how to prepare financial statements for a sole trader, including how to prepare statements from incomplete records. Learn how to prepare an Extended Trial Balance for a sole trader.
‘Not for Profit’ Organisations
Learn how to prepare a financial statement for a ‘not for profit’ organisation.
Partnerships
Learn how to maintain records and prepare financial statements for a partnership. Discover how to account for changes in the composition of a partnership.
Course Code
M23
Hours of study
9 months / 80 hours
Technical requirements
Exam fees are additional to your course fees.
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Outline
Your study materials contain mock examination papers for you to complete, along with solutions. If however, you would like to discuss any aspect of your mock exams, please request a tutor call.
Breakdown
For your actual IAB assessment you're required to sit two, 2 hour exams and a practical case study consisting of two compulsory and a choice of two from three manual tasks.
Notes
The pass mark for the exam is 55%.
The exam fee is additional to your course fee.
The format of the exam is subject to change. The details provided are intended only as a guide and should not be regarded as definitive.
Information provided is for information purposes only and no guarantees are made with regards to accuracy. It is advised that all details are checked prior to making a booking. Contents © 1999 - 2012. All rights reserved.
