This comprehensive study guide for the ICB (Institute of Certified Bookkeepers) A1 exam, part of the Level 2 Certificate in Bookkeeping, covers the key components in the unit and prepares students for their exam.
Written by an experienced bookkeeping and accounting lecturer, this guide covers all the key material and includes a wide range of practice questions to cement and apply the knowledge required to pass.
Part 1 – Underpinning Knowledge
• Identify the various methods of payments and receipts to and from a bank account
• Understand the legal differences between the structures of different types of businesses
• Understand the specific accounting requirements for different accounting systems
• Understand the importance of the Chart of Accounts
• Understand the basic principles involved in double-entry bookkeeping, including the format of the accounting equation
Part 2 – Prepare Business Documents
• Understand the purpose and range of business documents
• Understand the need to accurately prepare business documents for goods and services supplied
• Understand the various rates of VAT
• Understand how to correctly account for VAT in a bookkeeping system
Part 3 – Entering Transactions
• Understand the purpose of, and make entries into, a bookkeeping system
• Calculate the value of equity
• Understand the purpose and need to record petty cash
Part 3 – Assessment Support
Part 4 – Answers
• Answers to chapter questions