This qualification is part of the Qualification and Credit Framework (QCF), which became fully operational in September 2010. Qualifications within the framework are made up of units and each unit is given a credit value, where one credit represents 10 hours of
learning time. The title of every qualification within the new framework will contain details of the size (award/certificate/diploma), level of difficulty (Entry to level 8) and general content of the qualification.
It is anticipated that the majority of providers engaging with the QCF will be in a position to obtain a Unique Learner Number (ULN) and this should have been evidenced through the completion of the IAB Supplementary QCF accreditation of centres Application Form. It is a condition of operating within the QCF that this document has been fully completed and accepted by the IAB, for any QCF qualifications which have been publically funded. This will confirm that providers are in a position to generate a ULN, which in turn will allow the successful completion of any QCF unit or qualification to be transferred to each individual Personal Learner Record. A key aim of the Personal Learner Record is to improve the flow of information about learners from schools to other education providers and ultimately
Enable candidate to progress in their learning to further develop their knowledge, understanding and skills of dealing with financial transactions by:
- Undertaking further studies of bookkeeping and accounting routines and procedures at Level 2
- Widening their skills at this level by progressing to the IAB Level 1 Award in Computerised Bookkeeping.
Links to National Occupational Standards
Direct relationship based on NOS for Accountancy and Finance PS-1, FA-1 and FA-2
The IAB Level 1 Award in Bookkeeping is aimed at individuals who wish to begin their studies of bookkeeping and gain an entry level qualification at Level 1 of the National Framework from a point of no previous knowledge. It could also be used by those candidates who have some practical knowledge and skills at this level and wish to gain an accredited qualification in the subject.
Owners of small businesses may also find this qualification useful as it gives coverage of the keeping of a single entry book manual keeping system, suitable for the production of small business accounts and also acts as the underpinning knowledge of bookkeeping for the processing of financial transactions using a computerised accounting system.
Statement of level
This is a level 1 qualification as defined within the regulations of the Qualification and Credit Framework.
There are no formal entry requirements for the level 1 Award in Bookkeeping. However it is recommended that prospective candidates will already have basic skills in both numeracy and literacy prior to embarking on a course of study for this qualification.
To achieve this qualification, only the mandatory units consisting of 9 credits must be achieved. The additional option units are provided purely as a progression opportunity, but are not a compulsory element of the qualification. The accreditation number, level and credit value of each unit is as follows:
Introduction to bookkeeping – M/600/8737 (level 1 – 1 credit)
Working within Bookkeeping - T/600/8738 (level 1 – 2 credits)
Banking procedures - A/600/8739 (level 1 – 1 credit)
Recording receipts and payments - L/600/8745 (level 1 – 1 credit)
Preparing and processing book-keeping documents - M/600/8740 (level 1 – 1 credit)
Recording Credit transactions - A/600/8742 (level 1 – 1 credit)
Making and receiving payments - J/600/8744 (level 1 – 1 credit)
Maintaining petty cash records - R/600/8746 (level 1 – 1 credit)
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