IAB Level 1 Award in Bookkeeping 601/9065/6
Short Course by
Practical Accounting Training Ltd
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Details
1 Introduction to the qualification
The Level 1 Award in Bookkeeping
601/9065/6qualification is part of the Regulated Qualification
Framework (RQF).
2 Statement of level
This is an entry Level 1 qualification as defined within the regulations of the RQF.
3 Aims
Learners who complete the qualification successfully will have a knowledge and understanding of
basic and technical terms used by bookkeepers and will be able to apply concepts that are
fundamental to the function of bookkeeping. They will be able to recog
nise the common source
documents from which transactions are recorded in the books of account, and be able to use
source documents for the purpose of recording transactions in a manual bookkeeping system
using double entry processing techniques.
Successful completion of the qualification will give learners the skills required to classify business income and expenditure so that they are will be able to record capital income and expenditure,account for purchases and sales, the payment of business
expenses and the taking of drawings.
They will also be able to process receipts and payments through the business bank account and
petty cash account, where payment is made or received in cash, by cheque, plastic card, BACS or
other automated payment methods.
Learners will also have the skills to account for VAT
Learners will also have the skills to account for VAT
On completing the qualification learners will have progressed to the stage whereby they can verify
the accuracy of their work by carrying out the routine tasks of balancing off ledger accounts,
preparing a trial balance, and carrying out other checks on accuracy by reconciling the bank current account and petty cash account balances.
The qualification will give the learner the basis on which they will be able to progress in their studies
with the IAB by:
Widening their knowledge and skills by studying other linked qualifications at Level 1
in the subjects of computerised bookkeeping and/or payroll
.
Advancing their bookkeeping knowledge and skills by undertaking further studies of
manual bookkeeping
and accounting routines and procedures at Level 2
.
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