This qualification is part of the Qualification and Credit Framework (QCF), which became fully operational in September 2010. Qualifications within the framework are made up of units and each unit is given a credit value, where one credit represents 10 hours of
learning time. The title of every qualification within the new framework will contain details of the size (award/certificate/diploma), level of difficulty (Entry to level 8) and general content of the qualification. This qualification is competence based, as it is deemed to include all the relevant knowledge and skills for a level 3 bookkeeper.
Upon completion, progress in their learning to further develop their knowledge, understanding and skills by:
- Further studies of accounting routines and procedures at Level 4 of the
National Occupational Standards.
- Progression to the IAB Level 3 Certificate in Computerised Bookkeeping and Level 3 Certificate in Computerised Accounting for Business
- Undertake studies in other areas of accounting at this Level e.g. costing and cash management
Links to National Occupational Standards
Direct relationship based on NOS for Accountancy and Finance FA-1,FA-2 and FA-3
The IAB Bookkeeping qualifications are specifically designed to appeal to those who are aspiring to become, or who are already, professional bookkeepers or accounts administrators.
This Level 3 qualification is primarily designed for the following candidates:
1 Those who already have some bookkeeping experience and who wish to acquire further skills and knowledge required of Bookkeepers, Accounts Clerks and Financial Administrators.
2 Those candidates who already hold the IAB Level 1 Award and Level 2 Certificate in Bookkeeping or the IAB Level 2 Certificate in Computerised Bookkeeping.
3 Those who are already employed in bookkeeping or allied roles and who wish to enhance their firm foundation and the knowledge and skills to perform some advanced routine and non-routine tasks.
4 Those preparing for or undertaking an apprenticeship in bookkeeping or accounting at Level 3 who wish to underpin this with a thorough grounding in the fundamental technical knowledge, understanding and skills associated with producing financial statements at this level.
5 Those who may wish to continue to a higher level of study in accounting and related subjects and qualifications.
There are no formal entry requirements for the IAB Level 3 Certificate in Bookkeeping (QCF). However it is recommended that before commencing a course leading to this qualification, the prospective learner will already have an understanding of bookkeeping up to and including the Trial Balance. The successful completion of the IAB Level 2 Certificate in Bookkeeping or the IAB Level 2 Award in Manual Bookkeeping would be ideal qualifications to allow progression to the Level 3 Certificate in Bookkeeping (QCF)
To achieve this qualification, all the mandatory units consisting of 28 credits must be achieved. The accreditation number, level and credit value of each unit is as follows:
Principles of double entry bookkeeping – A601/0698 (level 3 – 2 credits)
Principles of accounting for not for profit organisations – Y601/0725 (level 3 – 1 credit)
Fundamentals of incomplete records – A601/0717 (level 3 – 1 credit)
Fundamentals of bookkeeping and accounting for partnerships – L601/0723 (level 3 – 1 credit)
Principles of preparing financial statements for sole traders – R601/0707 (level 3 – 1 credit)
Principles of VAT – F/600/4952 (level 3 – 2 credits)*
Working effectively in accounting and finance – L600/4923 (level 2 – 2 credits)
Record transactions and make accounting adjustments – M601/0732 (level 3 – 5 credits)
Assessment and Grading
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