Institute of Certified Bookkeepers (ICB) Level 2 Manual Bookkeeping: Home Study

Course Content

Premier Training will provide each student with:

• Training DVD and accompanying manual
• Study textbook
• Three assignments
• Practice exam paper
• Telephone helpline
• Personal study programme
• Personal tutor

Students must be able to demonstrate their ability to understand and carry out the following functions:

VAT Returns
1) Show an understanding of the requirements for making VAT returns.
2) Prepare VAT returns.
3) Explain the balancing figure on the VAT return and its implications for the business.

Cash Books
1) Explain the imprest system for dealing with petty cash.
2) Enter opening balances and transactions into a petty cash book.
3) Calculate and bring down balances.
4) Restore the imprest.
5) Post the analysed totals to the relevant ledger accounts.
6) Set up three column cash book and post relevant items including cash discounts involving VAT.

Reconcile Sales and Purchase Ledger Accounts
1) Explain the need for reconciling the sales and purchases ledger accounts.
2) Explain how discrepancies in the reconciliation can occur.
3) Carry out a reconciliation of the sales and purchases ledger accounts.

Correction of Errors
1) Correct errors in the accounts including those involving the suspense account.

Bank Reconciliation Statements
1) Explain the discrepancies between bank statements and the bank columns of cash books.
2) Update the cash book.
3) Prepare such statements.

Trading and Profit and Loss Account for a Sole Trader
1) Explain their purpose.
2) Prepare them from:
i) Ledger accounts
ii) Trial balances
iii) Lists of balances

3) Derive and explain:
i) Gross profit (or loss)
ii) Net Profit (or loss)
iii) Cost of goods sold
4) Adjust the trading, profit ad loss account for:
i) Depreciation (Straight line and reducing balance Methods)
ii) Prepayments and Accruals
iii) Bad debts.

Balance sheet for a Sole Trader
1) Explain their purpose
2) Compile them from ledger accounts and a trading and profit and loss account.
3) Explain the meaning of:
i) Capital
ii) Debtors and Creditors
iii) Fixed and current assets.

Year End Ledger Entries
1) Close off the ledger accounts at the year-end making allowances for depreciation, prepayments and accruals.

Non-profit Making Organisations
1) Prepare a statement of affairs
2) Accurately prepare a receipts and payments account
3) Make adjustments to the accounts with the regard to the accruals and prepayments of income and expenditure items including subscriptions.
4) Prepare an income and expenditure account
5) Prepare a balance sheet.

Examination dates:

Level II Manual Bookkeeping exams are normally held in February, June and October of each year.The ICB uses exam centres in the UK and around the world. Once your exam application is received you will be allocated to the centre that is closest to where you live. You will then receive written confirmation of the venue, complete with a map and directions. Examinations outside the UK are normally held at British Council offices.

Premier Training Guarantee:

We are so convinced that our level II bookkeeping course will help you to succeed that we offer an important guarantee: pass your exams within 1 year of commencing the course or free tuition for a further 12 months!

Progress

Once you have completed level II you can either take the Level II computerised accounting course or the Level III manual bookkeeping course. If you have no experience of using a computerised accounting  package then you are strongly advised to undertake Premier Training's computerised accounts course. This is an excellent course and will give you a detailed understanding of Sage Accounts.

If you have good experience of a computerised accounts package then you can go straight onto level III.

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