Book Keeping

 

 

 

Book-Keeping Level 1

 

The Level 1 Certificate in Book-keeping develops candidates’ understanding of the basic principles of recording business transactions, and their ability to maintain records and prepare final accounts for sole traders. It is suitable for people working or intending to work in areas of business that will involve the recording of financial transactions.

 

Candidates should have a standard of business English equivalent to Level 1 English for Business

 

 

The aims of this qualification are enable candidates to develop:

 

  • an understanding of the basic principles underlying the recording of business transactions

 

  • the ability to maintain the books of, and prepare final accounts for, sole traders

Structure of Qualification

 

1. Accounting Equation and the basis of double-entry book-keeping

 

2. Recording transactions through double entry

 

3. Balancing accounts

 

4. Purchases/Sales/Returns

 

5. The Ledger: its subdivision

 

6. Day Books

 

7. Bank facilities/methods of payment or receipt of money

 

 8. Cash Book and cash discount

 9. Bank reconciliation

 

10. Petty Cash Book and the Imprest System

 

11. Trial Balance

 

12. Adjusting for accruals and prepayments in the final accounts

 

13. Depreciation of fixed assets

 

14. The entries relating to bad debts

 

15. The Journal

 

16. Capital and revenue expenditure

 

17. Errors in the accounts and their correction

 

18. Effect of Profit (or Loss) and drawings upon capital

 

19. Trading and Profit and Loss Accounts

 

20. The Balance Sheet

 

21. Control Accounts – an introduction

 

The examination is suitable for candidates who work or wish to work in areas of business that will involve the recording of financial transactions. All businesses require accurate accounting records that are maintained on a regular basis. Consequently, there is a demand for employees who possess these skills.

  

 

 

Book-Keeping Level 2

 

The Level 2 Certificate in Book-keeping and Accounts , which is based on the International Accounting Standards, further develops candidates’ understanding of the accounting principles for recording business transactions, as well as their ability to prepare and interpret accounts for different types of businesses. It is suitable for people working or intending to work in a role that involves maintaining financial records and preparing final accounts.

 

 Candidates should have a standard of English equivalent to Level 1 English for Business.

 

The aims of this qualification are to enable candidates to develop:

 

  • an understanding of the basic principles underlying the recording of business transactions in accordance with the International Accounting Standards

 

  • the ability to prepare and interpret accounts for sole traders, partnerships, non-trading organisations and limited companies

Structure of Qualification

 

The Level 2 Certificate in Book-keeping and Accounts (IAS) is a single unit qualification that consists of the range of topics detailed overleaf.

 

   

Syllabus Topics

 

1. Advanced aspects of the syllabus for Level 1 Book-keeping

 

2. Partnerships

 

3. Limited liability companies

 

4. Incomplete records

 

5. Manufacturing accounts

 

6. Inventory valuation

 

7. Non-trading organisations

 

8. Control accounts

 

9. Suspense accounts

 

10. Calculation and interpretation of ratios

 

11. Preparation, by the use of ratios, of simple financial statements