ICB Level III - Computerised Bookkeeping BBS420

The Level 3 Computerised Course is aimed at students who wish to:

• Develop the skills learned in Level 3 Manual and Level 2 Computerised
• Gain an improved knowledge of the Sage Chart of Accounts
• Learn how to make year end adjustments for different types of organisations
• Take an examination

This level is divided into 4 units, each of which covers different topics. At this level, each unit is free standing and units can be studied in any order. Unit 1 forms an introduction to the course and has no assessment so it will be sent out free of charge with the first unit purchased.

As this course comprised only four units, and is considered to be an add-on to the level 3 Manual course, it does not offer a voucher to spend at the Institute of Certified Bookkeepers. However, purchasing the complete course in one go will allow you to save on postage and packing.

Pre-requisite:  ICB Level III - Manual Bookkeeping and ICB Level II - Certificate in Computerised Bookkeeping BBS312

In any course you took at level 2 in Sage, you would have learned how to set up a new business, enter invoices and credit notes for sales and purchases, post receipts and payments, reconcile bank accounts and produce VAT returns, enter year end adjustments such as depreciation, prepayments and accruals, and deal with a variety of journal entries such as correcting errors and posting payroll transactions. You may also have learned how to rebuild a set of accounts to enable you to start a new business. This unit takes this to a more advanced level, detailing the types of businesses that you could meet as a book keeper and the chart of accounts you should choose.

Tution cost: £250 and includes:

•  Assumed you have Sage Instant Accounts from previous level II - if not, an additonal charge of £100 in addition to the tuition fee is required
•  Workbook
• Course lessons
• Assignments
• Unlimited Exam practice
•  Access to additonal learning resources
• Unlimited Tutor support – vital to your success

ICB Student Registration fee £46.50 (includes first 12 months student membership of ICB)

• ICB exam fee: £41.50 - Home based
• It is assumed your ICB membership is current from previous course

No hidden costs.

Duration: 50 hours
Examinations

The exam is completed at home (home-based) and takes the form of a paper question booklet which is posted to the student at home for completion and return within two weeks. The student must have their own accounting software package (Sage Instant Accounts is included in most of the courses where applicable - if the student has their own version that is quite adequate for the purpsoe of taking the exam). The Institute posts assignments to students every Friday and results are posted directly to the student within one calendar month of receipt of a completed answer paper. If an examination is not returned within the deadline period, the examination will be graded as a Fail and the student must apply for a new examination and pay any necssary fees.

Sage and the Chart of Accounts
Introduction

In any course you took at level 2 in Sage, you would have learned how to set up a new business, enter invoices and credit notes for sales and purchases, post receipts and payments, reconcile bank accounts and produce VAT returns, enter year end adjustments such as depreciation, prepayments and accruals, and deal with a variety of journal entries such as correcting errors and posting payroll transactions.

You may also have learned how to rebuild a set of accounts to enable you to start a new business. This unit takes this to a more advanced level, detailing the types of businesses that you could meet as a book keeper and the chart of accounts you should choose.

Course Structure: ICB Level III - Diploma in Computerised Bookkeeping BBS420

ICB Accredited Course

1. Unit 1 - Year End Adjustments
   
   From your level 2 studies you should now be familiar with all of the input stages of Sage Instant Accounts and can process most forms of transactions.
   
   This unit takes you through the various types of adjustments that will need to be taken into consideration at the end of the year in order to make the accounts accurate under the different accounting rules in force. It will look at a sole trader scenario but all of the topics can be translated into any type of business.

          Learning Objectives:

          By the end of this unit you should be able to enter journals to cover the following:

1. • Year End Adjustments
     • Stock
     • Accruals and Prepayments
     • Depreciation
   • Disposal of Assets
   • Bad debts and write offs
   • Refunds
   • Provision for doubtful debts
2. Unit 2 - Partnerships
   
   This unit assumes that you have covered the manual and theoretical aspects of a set of Partnership Accounts, and covers only those areas which you will need in order to complete the accounts using Sage Instant Accounts.

          Learning Objectives:

          This unit aims to:

1. • Show you how to set up the chart of accounts in Sage for a partnership
   • Show you how to enter appropriated profit figures for each partner including:
     • Interest on capital accounts
     • Interest on drawings taken out by each partner
     • Partnership salaries
     • Share of profit
   • Show you how to enter drawings for each partner as appropriate
   • Make the required entries when a partner leaves or a new partner joins including the setting up of a goodwill account if required.
2. Unit 3 - Limited Companies
   
   This unit introduces the idea of an incorporated body – a limited company. It explains the additional book keeping requirements for dealing with a limited company, i.e. the formation, legal structure and layout of the accounts. It also covers the financing of a limited company, namely the issue of shares, and how the owners of the business (i.e. the shareholders) must conduct themselves concerning financial matters.

          Learning Objectives:

          This unit aims to:

1. • Explain the legal aspects of a limited company
   • Describe the various types of shares that exist
   • Introduces the idea of reserves
   • Demonstrate how the final accounts of a limited company are developed
   • Show how to deal with the issue of shares in an accounting framework
2. Unit 4 - Not for Profit Organisations (Clubs & Societies)
   
   Previous units have covered trading organisations whose main aim is to make a profit.
   This unit concerns itself with “not for profit” organisations (such as clubs or societies) whose main aim is to provide a facility for members.
   This unit assumes that you have the required manual knowledge of the stages involved in the production of a set of accounts for such an organisation and shows how to enter a set of accounts into Sage.

           Learning objectives:

           This unit aims to:

1. • Demonstrate the compilation of the following:
     • Receipts and payments account
     • Income and expenditure account
     • Balance Sheet
     • Subscriptions Account

Previous units have covered trading organisations whose main aim is to make a profit.

This unit concerns itself with “not for profit” organisations (such as clubs or societies) whose main aim is to provide a facility for members.

This unit assumes that you have the required manual knowledge of the stages involved in the production of a set of accounts for such an organisation and shows how to enter a set of accounts into Sage.

Learning objectives:

This unit aims to:

Demonstrate the compilation of the following:

• Receipts and payments account
• Income and expenditure account
• Balance Sheet
• Subscriptions Account

The exam is completed at home and takes the form of a paper question booklet which is posted to the student at home for completion and return within two weeks. The student must have their own accounting software package (Sage Instant Accounts is included in the cost of course). The Institute posts assignments to students every Friday and results are posted directly to the student within one calendar month of receipt of a completed answer paper.  If an examination is not returned within the deadline period, the examination will be graded as a Fail and the student must apply for a new examination and pay any necssary fees.