Distance Learning Bookkeeping Courses

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Woodgrove Tutorials:
Based in Gloucester in England, Woodgrove Tutorials are an award winning college and a training provider of the Institute of Certified Bookkeepers (ICB) courses through distance learning / home study. ICB's primary objectives are to promote bookkeepers and enable them to gain recognition as an integral element of the financial system. The ICB controls this through qualifications and grades of membership which recognise the achievements of its members in academia, experience and individual competence.

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Photo of Distance Learning Bookkeeping CoursesICB Bookkeeping Courses:
With Woodgrove Tutorials, students receive a ‘hard copy’ of the Course Modules on enrolment (by email and/or post by air mail) and then submit assignments online. The end exam for the ICB Level 1 is taken online at your home. External exams for levels II and III can be taken in most countries around the world.

- ICB Level I Certificate in Basic Bookkeeping:

The Certificate in Basic Bookkeeping covers the basic principles of double entry bookkeeping and how they are used in business. Students must be able to demonstrate their ability to understand and carry out the following functions:

Business Documents:

- Understand the nature of different accounting procedures including a simple system for coding business data
- Design and produce purchase orders, sales invoices, credit notes and statements of account which include VAT and trade discount
- Understand the need to have an authorisation system for ordering goods
- Understand the basic law relating to contract, the sale of goods and the retention of documents
- Understand the need for a systematic filing system for business documents as part of the general administration of a business
- Understand the importance of using recognisable documents in a standard house style
- Understand the various methods of ordering eg fax, internet etc

Books of Original Entry:

- Explain why they are needed and from what source of information they are compiled
- Explain the principles of the double-entry system and the functions of the books in this regard
- Draw up the books and enter transactions in them
- Post from them to the ledger accounts
- Make opening journal entries from items provided
- Make journal entries for the correction of errors
- Make journal entries for the purchase of fixed assets
- Correctly set up and make entries in a two column cash book
- Understand the importance of credit control within a business

Credit Control:

Explain the importance of credit control ensuring that:
- Payments are made on time
- Overdue debts are reviewed

Ledger Accounts:

- Explain their purpose
- Explain the difference between capital and revenue items, and between real, nominal and personal accounts
- Explain the significance of debit and credit entries in each of them
- Make opening entries in them
- Record the double-entry of transactions for capital and revenue items
- Calculate and record their balances
- Make correct entries for payroll transactions
- Write off bad debts

Trial Balances:

- Explain why they are needed
- Explain the types of error that they will / will not disclose
- Correct any errors made in the posting of any transaction not involving the suspense account
- Explain the action to be taken in the case of non-agreement
- Prepare such trial balances

Security of Data:

- Understand the functions and services of banks
- Understand the basic principles of the Data Protection Act
- Describe the treatment of cheques, standing orders, direct debits, giro credits, credit transfers, CHAPS, BACs, debit and credit cards
- Use cheque books and paying in slips correctly

Once students have achieved the Level I Certificate in Basic Bookkeeping, they make take the Level II Certificate in Manual Bookkeeping


- ICB Level II Certificate in Manual Bookkeeping:
Students must be able to demonstrate their ability to understand andImage of Distance Learning Bookkeeping Courses carry out the following functions:

VAT Returns:
- Show an understanding of the requirements for making VAT returns
- Explain the balancing figure on the VAT return and its implications for the business
- Prepare VAT returns

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

Reconcile Sales and Purchases Ledger Accounts:
- Explain the need for reconciling the sales and purchases ledger accounts
- Explain how discrepancies in the reconciliation can occur
- Carry out a reconciliation of the sales and purchases ledger accounts

Correction of Errors:

- Correct errors in the accounts including those involving the suspense account

Bank Reconciliation Statements:

- Explain the discrepancies between bank statements and the bank columns of cash books
- Update the cash book
- Prepare such statements

Trading and Profit and Loss Account for a Sole Trader:

- Explain their purpose
- Prepare them from
* Trial balances
* Ledger accounts
* Lists of balances

- Derive and explain
* Gross profit (or loss)
* Net profit (or loss)
* Cost of goods sold

- Adjust the trading, profit and loss account for
* Prepayments and Accruals
* Depreciation (straight line and reducing balance Methods)
* Bad debts

Balance sheet for a Sole Trader:

- Explain their purpose
- Compile them from ledger accounts and a trading and profit and loss account
- Explain the meaning of:
* Debtors and creditors
* Capital
* Fixed and current assets

Year End Ledger Entries:

- Close off the ledger accounts at the year end making allowances for depreciation, prepayment and accruals


ICB Level II Certificate in Computerised Bookkeeping (Sage accounts software training):
Students must be able to demonstrate their ability to understand and carry out the following functions in Sage:

Business Set Up:
- Access the software
- Set up the details of the new business including:
- Name, address, start up date, VAT registration where applicable,
- Product lines for sale
- Appropriate VAT rates
- Set up customers' and suppliers' accounts in the sales and purchases ledger, with details of name, address, credit limit, opening balances where appropriate
- Obtain a print out of all details in an appropriate and readable format
- Set up appropriate accounts to record income and expenditure items
- Set a pro-forma for the production of invoices, credit notes and other required documents

Ledger Accounts:
- Make correct entries in the appropriate accounts for:
* credit sales and purchases (including trade and cash discount where appropriate, individually or in batches)
* credit notes sent to customers and received from suppliers
* invoices received from suppliers for goods and services other than those for re-sale
* cash sales and cash purchases
* payments made on invoices received
* receipts from invoices sent
* payment of expenses and income other than from the sale of goods
* transactions via the journal
* Writing off of bad debts

Correction of errors:
- Correct any errors made in the posting of transactions to the accounts

Bank reconciliation:
- Carry out a bank reconciliation exercise using a computerised accounts package

Health and Safety:
- Display an awareness of health and safety issues when using a computer system

Trial Balances:
- Explain why they are needed
- Explain the types of error that they will/will not disclose
- Prepare such balances
- Explain the action to be taken in the case of non-agreement

Reports:
- Print out required and explain the importance of reports including
* audit trail
* nominal account transactions
* sales and purchases ledger transactions
* VAT return

Final Accounts of a Sole Trader:
- Extract a trading, profit and loss account and a balance sheet making allowances for year end adjustments such as depreciation (straight line and reducing balance methods), prepayments and accruals.

- ICB Level III Diploma in Manual Bookkeeping:

Having achieved the Level II qualification in either Manual or Computerised bookkeeping, students may progress to the Level III Diploma. If applying for the Level III in Manual Bookkeeping, students must pass the Level II Certificate in Manual Bookkeeping first. If applying for the Level III in Computerised Bookkeeping, students must pass the Level II Certificate in Computerised Bookkeeping first. Students must be able to demonstrate their ability to understand and carry out the following functions:

Data Protection:

- Demonstrate an understanding of the principles of the Data Protection Act

Stock Valuation:
- Prepare stock valuations and be able to:
* apply methods of FIFO and AVCO
* explain the accounting concept relevant to stock valuation
* calculate the value of stock

Post Trial Balance Adjustments and Provisions:

- Make correct entries within the accounts for accruals and prepayments, depreciation, the provision of doubtful debts and closure of accounts at the year end

Disposal of Fixed Assets:

- Make correct entries in the accounts for the disposal of fixed assets including part exchange
- Transfer the profit or loss on the disposal of a fixed asset to the profit and loss account
- Calculate depreciation of remaining fixed assets after disposal (assume full depreciation in the year of acquisition and no depreciation in the year of disposal)

Extended Trial Balance:
- Analyse and develop given information to produce an extended trial balance

Incomplete Records:

- Calculate owner’s capital account by the compilation of a statement of affairs. Calculate sales and purchases using control accounts or a similar method
- Analyse and make use of given data to calculate profit by comparison of capital methods
- Using conventional book-keeping procedures, derive any other missing figures from given data
- Produce a set of complete final accounts from a set of incomplete records

Concepts:
- Explain the meaning of the terms business entity, going concern and accruals concept

Partnerships:
- Explain the legal aspects of a partnership formation
- Compile trading, profit and loss and appropriation accounts, together with a balance sheet for a partnership
- Compile partners capital and current account
- Produce the necessary calculations for the admission of a new partner and the retirement of a partner including treatment of goodwill
- Apply profit sharing ratio changes to partnership accounts

Limited Companies:

- Explain the nature of limited liability and company account requirements
- Understand the need for maintaining a fixed asset register where applicable
- Produce the ledger work required for the issue of shares and debentures
- Produce a set of final accounts for a limited liability company

Non-Profit Making Organisations:

- Prepare a statement of affairs
- Accurately prepare a receipts and payments account
- Make adjustments to the accounts with regard to the accruals and prepayments of income and expenditure items including subscriptions
- Prepare an income and expenditure account
- Prepare a balance sheet

AICB (Associate of the Institute of Certified Bookkeepers) Career Path:
Our AICB Career Path Course package will quickly lead you to ICB Associate Membership. To attain AICB status you will be required to pass three exams:

- ICB Level I Certificate in Basic Bookkeeping
- ICB Level II Certificate in Manual Bookkeeping
- ICB Level II Certificate in Computerised Bookkeeping

For the Level I and II Manual Bookkeeping Courses full tutorial support is given by an award winning qualified Charted Certified Accountant with over 20 years teaching experience in Bookkeeping & Accounts at London’s Guildhall University and also in Distance Learning.

Our ICB Level II Certificate in Computerised Bookkeeping Course will teach you how to use Sage Software with tutorial support from an award winning Sage tutor with over 20 years experience of advising and training on how to make the best use of Sage accounting software. SAGE is acknowledged as a leading provider of accounting software packages; these are easy to operate and in very wide use. Over 500,000 UK businesses already rely on Sage, and it is one of the leading brands in today's market place.

You have one year in which to complete the Manual Career Path Courses and a further six months in which to complete the Level II Certificate in Bookkeeping Computerised Course. as soon as you have completed each course you can then immediately sit the exam for that course. In practice, it should take much less time to achieve AICB status as there are no set examination dates and all examinations are available on-demand throughout the year.

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Address: Beavans Hill, Kilcot, Newent, Gloucestershire, GL18 1PG, UK & England
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