Level 3 ‘M4’ Practical Bookkeeping Self Study PLUS
Duration: 40–60 Hours
Level: 3
Exams: 1
M4 Practical Bookkeeping is the first 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
‘M4’ Course content in detail
- Legislation and ethics
- The Data Protection Act
- Money Laundering
- The Proceeds of Crime Act 2002 (POCA)
- The Money Laundering Offences
- The Bribery Act
- Codes of ethics and practice
- Reporting suspicious behaviour
- Accounting Concepts
- Going Concern
- Consistency
- Prudence
- Accruals (or Matching Concept)
- Supplier and Customer Reconciliation
- Control Accounts
- Purchase and Sales Ledger Control Accounts
- Set offs
- Dishonoured payments and receipts
- VAT Returns
- VAT periods
- Filling out the VAT return
- Submitting the return
- Ledger entries to record the payment or refund of vat
- The end of paper VAT returns
- Postage and packing charges
- Bad Debts and VAT
- Cash Accounting
- Who can use the scheme?
- Transactions with customer and suppliers based outside the UK
- Outside the EU
- Sales to customers outside the EU
- Goods purchased from outside the EU
- Reverse charge
- Summary of VAT Return entries
- Other VAT Schemes
- The Flat Rate Scheme
- Retail Schemes
- The Margin Scheme for Second Hand Goods
- Filling in the VAT return
- Partial Exemption
- Correction of Errors
- The Journal
- Aide memoire
- Errors that will affect the trial balance
- The suspense account
- Introduction to Final Accounts
- An introduction to profit
- Gross profit
- Stock Valuation
- Net profit
- Items of additional income
- Discounts allowed and received
- Non-trading businesses
- Subsequent years trading
- The Balance Sheet
- The Accounting Equation
- Developing the balance sheet
- Working Capital
- VAT registered businesses
- Long Term Loans
- Accruals and Prepayments
- Disposal of Assets
- Corrections to Final Accounts
- Cash Budgets
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 unit, although if you intend on sitting the exam at the end of this 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.
Basic numerical skills and a good understanding of the English language would also be advantageous.
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
The following units can be taken on completion of the ‘M4’ Practical Bookkeeping Assessments.
- Level 3 ‘M5, M6 and M7’ Practical Bookkeeping
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 exam at the end of this 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 the ‘A1, A2 and A3’ papers. You would then contact the ICB to book your exam.
Paper M4 – Reconciliations and final accounts of a sole trader:
Home/place of work-based assessment to include:
- Underpinning knowledge
- Reconciliation and correction of errors (customer and supplier reconciliations, bank reconciliation, correction of errors including the clearance of a suspense account balance)
- The calculation of summary figures for control accounts
- VAT Returns (cash and standard VAT returns only but including EU transactions)
- Posting adjustments including disposal and acquisition of fixed assets
- Revaluation of assets
- Final accounts of a sole trader (profit and loss account and balance sheet)
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
£45.00
