Level 3 ‘M5’, ‘M6’ and ‘M7’ Practical Bookkeeping Self Study PLUS
Duration: 90–110 Hours
Level: 3
Exams: 4
M5, M6 and M7 Practical Bookkeeping is the final part of the Level 3 qualification.
Our unique materials are completely up-to-date and mirror the Level 3 syllabus as set by the Institute of Certified Bookkeepers (ICB).
Tried and tested, and written by our very own course specialists, our self-study option is more than just a book. We also provide you with access to our online learning hub where you will find all of your study material, all available 24/7.
On top of that, you will be able to complete your assessments online and receive immediate results.
Need support?
Tutor support is often overlooked, and whilst it might not be needed at all times, isn’t it good to know that if push comes to shove, you have access to tutor support – Even on a self-study option?
That’s why we have created this option – Purchase tutor support when you need it – For one month…or longer, the choice is entirely yours!
You don’t need to decide now. See how you get on, and if you decide that a little support is needed, simply come back here and click the following link…
Need more?
Whilst we provide one auto-marked mock exam with all of our units, you might want further validation of your efforts by sitting a second mock paper, thereby giving you the best opportunity to pass your formal exam at the first sitting. This is where our personalised, detailed tutor-assessed mock exam pays dividends. Not only is this assessed by an award-winning tutor, but the feedback you receive will be personalised to your paper (not simply copy & pasted from a bank of generic responses). Again, no need to decide now; you can choose this option at any time
‘M5’
- Legislation and Ethics
- Manual Partnerships
- Working in a partnership
- Bookkeeping entries for Partnership accounts
- Capital Accounts
- Partnership sharing ratios
- Partnership Appropriation Account
- Interest on Capital
- Interest on Drawings
- Salaries
- Share of profit
- Drawings
- Balance Sheet
- Revaluation of Assets
- Changes in the partnership during the year
- Goodwill
- Admission of a new partner
- Retirement of an existing partner
‘M6’
- Legislation
- Statement of Assets and Liabilities
- The Receipts and Payments Account
- Income
- Subscriptions
- Accrued subscriptions brought forward
- Prepaid subscriptions brought forward
- Carried forward balances at the end of the year
- Written off subscriptions
- Life Member Subscriptions
- Event Income
- Insurance claims
- Fund raising events
- Donations and Bequests
- Gift Aid
- Loans from members
- Prepaid expenses – brought forward and carried forward
- Accrued expenses – brought forward and carried forward
- Other adjustments
‘M7’
- Limited Companies
- Shareholders and Directors
- Shareholders
- Directors
- Executive Directors
- Non-Executive Directors
- The Administrative Requirements of a Limited Company
- The Memorandum of Association and the Articles of Association
- The Company Secretary
- Private Limited Companies
- Public Limited Companies
- Types of Share
- Ordinary Shares
- Preference Shares
- Loans and Debentures
- Accounting for Shares Issues
- The Share Premium Account
- The Distribution of Profits and Retained Earnings
- Distribution of Profits
- Retained Profits
- Limited Company Financial Statements
- The Profit and Loss Account
- The Balance Sheet
- Dividends
- Directors’ Loan Accounts
- Reserves
- Revenue (or Distributable) Reserves
- Capital (or Non-Distributable) Reserves
- Debentures and the Payment of Interest
- Limited Liability Partnerships
- Employment Status in LLP’s
- Final Accounts for a LLP
- Interest on Capital
- Ratios and Performance Indicators
- Different Measures
- What is a Ratio?
- What is a Percentage?
- The Financial Statements
- The Financial Ratios
- The Profitability Ratios
- The Liquidity Ratios
- Financial Position Ratios
- Cash Budgets
- The Cash Budget
- Including the Bank Balance in the Cash Budget
- Preparing a Cash Budget Using Changes in the Balance Sheet
Further details on the learning outcomes, assessment criteria, grading, and more can be found by accessing the ICB’s Level 3 Certificate in Bookkeeping and Accounts Syllabus
There are no prerequisites for this set of units. But to sit the exams, you need to be a member of the Institute of Certified Bookkeepers (ICB) and hold a current, valid ICB Level 2 qualification.
You also need to have sat and passed the M4 paper.
Basic numerical skills and a good understanding of the English language would also be helpful.
Training Link focuses on only three subjects: Accounting, Bookkeeping, and Payroll.
This keeps us focused on delivering the best student experience. And that’s why over the last 27 years we’ve won over 20 awards – from AAT’S Best New Training Provider in 2018 to ICB’s Large Training Provider of the Year for ten years in a row.
Training Link has written and created all of the study material for our ICB courses.
And because we control this material, we can improve it based on student feedback and results. This is what helps Training Link students achieve outstanding pass rates.
- Printed Workbook containing lessons, examples and activities
- Six months unlimited (24/7) access to our online portal
- Materials available online
- Online course assessments
- Online mock exam
Upgrades
There are various additional courses that can be taken to strengthen your portfolio. These would include:
- Level 3 Diploma in Payroll Management
- Level 4 Self-Assessment Tax Returns
- Level 4 Financial Statements
- Level 4 Corporation Tax
The Institute of Certified Bookkeepers was established in 1996. They promote the bookkeeping profession, learning and education, and offer qualifications.
The ICB is the largest bookkeeping membership organisation in the world. There are over 150,000 students and members in over 100 countries.
ICB’s certification is based on exams and only the finest professionals are eligible for membership. Members need to maintain their status via Continuous Professional Development.
ICB’s rigorous standards give businesses the confidence that an ICB-certified Bookkeeper will have the highest standards. And that’s why it is a perfect pathway for anyone who wants to become a self-employed bookkeeper.
If you choose to sit the exams at the end of each unit, you would be required to have registered as a student with the ICB first. You would also be required to have sat and passed all previous papers up to your current level of study. (For example, ‘A1’, ‘A2’, ‘A3’, ‘M4’ etc…) You would then contact the ICB to book your exams.
Paper M5 – final accounts of a partnership
Home/place of work based covering knowledge and skills assessment to include:
- All of the requirements for paper M4 but set in a partnership scenario plus:
- Underpinning knowledge
- Ethical considerations
- Underpinning knowledge of the legal requirements for a partnership
- Final accounts of a partnership including the appropriation account and production of partners’ current accounts
- Calculations and bookkeeping entries to record a change of partnership (partnership ratios, goodwill, the effect on capital and current accounts etc.)
Paper M6 – final accounts of a not-for-profit organisation
Home/place of work-based knowledge and skills assessment to include:
- All of the requirements of paper M4 but set in a not-for-profit scenario plus:
- Underpinning knowledge regarding not-for-profit organisations
- Understanding the different requirements of a chart of accounts for such an organisation
- Understand the concepts of the different forms of income for not-for-profit organisations including a subscriptions account
- Posting adjustments including the subscriptions account and disposal and acquisition of fixed assets
- Final accounts of a not-for-profit organisation
Paper M7 – Management accounts of incorporated businesses
Home /place of work based assessment to include:
- Final accounts including adjustments for a limited company (internal management accounts format only)
- Limited liability partnerships
- calculation and interpretation of ratios
If your intention is to gain your full Level 3 ICB qualification, then you would also be required to sit the ‘M8’ exam (booked directly with the ICB).
Paper M8 – Level 3 Invigilated Assessment
This is a remotely invigilated assessment to be taken at home / any closed environment with a stable internet connection. The assessment will be a mixture of multi-choice and data entry questions which will cover all elements of the syllabus.
Tutor support is often overlooked, and whilst it might not be needed at all times, isn’t it good to know that if push comes to shove, you have access to tutor support – Even on a self-study option?
Purchase tutor support when you need it – For one month…or longer, the choice is entirely yours!
You don’t need to decide now. See how you get on, and if you decide that a little support is needed, simply come back here and click the following link…
Self-study book
£75.00
