Level 3 ‘M5’, ‘M6’ and ‘M7’ Practical Bookkeeping

Brand New 2019 Syllabus!

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.

£70.00

Prerequisites

There are no prerequisites for this set of units, although if you intend on sitting the exams at the end of each unit, then you will need to be a member of the Institute of Certified Bookkeepers (ICB) and hold a current, valid ICB Level 2 qualification. Additionally, you will also be required to have sat and passed the M4 paper.

Basic numerical skills and a good understanding of the English language would also be advantageous.

The course fee Includes:

  • New Style Printed Workbook containing lessons, examples, activities and assessments
  • Activity and Assignment Model Answer Book
  • FREE Postage and packaging within the UK

Upgrades

There are various further courses that can be taken to strengthen your portfolio, and these would be complete courses with full tutorial support. These would include:

  • Level 3 Diploma in Payroll Management
  • Level 3 Self-Assessment Tax Returns
  • Level 3 Diploma in Costing and Budgeting

‘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

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 External Assessment

This is a single assessment to be taken at an ICB examination centre. The assessment will be a mixture of multi-choice and data entry questions which will cover all elements of the syllabus.

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