Manual Bookkeeping Post Exam
Syllabus Information Type of Examination: Timed assessment at an exam centre Prior Knowledge: Competence in basic bookkeeping. Prerequisites: Candidates must have achieved the following ICB Bookkeeping examinations, or gained exemptions from them, before applying:. Level I Certificate in Basic Bookkeeping Candidates must also:. have completed the preceding ICB qualification within the last two years. hold valid ICB student registration or ICB membership Syllabus Detail: Students must be able to demonstrate their ability to understand and carry out the following functions: (1) Accounting for VAT Understand the process of accounting for VAT and completing a VAT Return. Be able to:. explain the need for a business to register for VAT.
Manual Bookkeeping Post Exam For Police
identify the form and content of a VAT invoice. define the terms - Input tax - Output tax - Standard rate - Zero Rate - Exempt Supplies - Tax Point. account for VAT using a VAT control account. explain the process of bad debt relief.
prepare a VAT Return (2) The Cash Book and Petty Cash Book 2.1 Understand the purpose and need to record petty cash. Be able to:. explain the purpose of the imprest system. prepare and authorise petty cash vouchers. code the expenditure. record the transactions in the petty cash book.
balance off and restore the imprest. post to ledger accounts 2.2 Understand the purpose and use of a three column cash book. Be able to:. accurately record receipts and payments in a three-column cash book. balance off cash and bank columns and bring down balances. complete the double entry to main and subsidiary ledgers (3) Bank Reconciliation Statement 3.1 Understand the need to balance bank transactions and the bank reconciliation statement. Be able to:.
compare individual items on the bank statement with those in the cash book. update the cash book. prepare the bank reconciliation statement (4) Control Accounts and Reconciliation of Sales and Purchase Ledger Accounts Understand the purpose and use of control accounts. Be able to:.
prepare sales and purchase ledger control accounts. total and balance off accounts in the subsidiary ledgers. reconcile control accounts with the total from subsidiary ledger (5) Correction of Errors and the Suspense Account Understand the need to correct errors and use a suspense account until errors have been clearly identified.
Manual Bookkeeping Post Exam Study
Be able to:. open a suspense account. correct errors through the journal. prepare the suspense account (6) Depreciation of Fixed Assets Understand the need to depreciate fixed assets and calculate depreciation using appropriate rates and methods.
Be able to:. record Capital Expenditure in appropriate records. calculate and record the charge for depreciation using both straight line and reducing balance method. prepare a schedule of fixed assets showing clearly their net book value. understand the effects of depreciation on the accounts (7) Accruals and Prepayments Understand the need for accruals and prepayments. Apply the accruals or matching concept by:.
calculating accruals. calculating pre-payments. accounting for accruals and prepayments. understand the effect of accruals and prepayments on final accounts (8) Bad Debts Understand the need to recognise and deal with writing off a bad debt.