Introduction:

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. This qualification is competence based, as it is deemed to include all the relevant knowledge and skills for a level 2 bookkeeper.

Aims
Give candidates the necessary underpinning knowledge and skills to assess their understanding of the importance of maintaining accuracy, security and integrity in performing any bookkeeping tasks using either a manual or computerised double-entry bookkeeping system.

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 3 both in manual and computerised environments.
• Widening their skills at this level by progressing to the IAB Level 2 Certificate in Computerised Accounting for Business as this aims to give a Sage competency qualification alongside the IAB qualification and includes units not covered within the bookkeeping competency.

Direct relationship based on NOS for Accountancy and Finance FA-1,FA-2 and FA-3

Direct relationship based on NOS for Accountancy and Finance FA-1,FA-2 and FA-3

        Target Groups                                                                                 
                                       T  he IAB Level 2 Certificate in Bookkeeping is aimed at individuals who wish to further their studies of bookkeeping and gain a    competence qualification at Level 2 of the National Framework having completed studies of the IAB Level 1 Award in Bookkeeping. It could also be used by those candidates who have some practical knowledge and skills and wish to gain an accredited  competence qualification in this subject.        

Statement Level
This is a level 2 qualification as defined within the regulations of the Qualification and Credit Framework.

Entry requirements

There are no formal entry requirements for the IAB Level 2 Certificate in Bookkeeping (QCF). However, it is recommended that before commencing a course leading to the IAB Level 2 Certificate in Bookkeeping (QCF), the prospective learner will already have basic skills in numeracy and literacy and some understanding of basic bookkeeping practices and terminology. The successful completion of the IAB Level 1 Award in Bookkeeping or the IAB Level 1 Award in Manual Bookkeeping would be ideal qualifications to allow progression to the Level 2 Certificate in Bookkeeping (QCF).

Qualification Structure
To achieve this qualification, all the mandatory units consisting of 16 credits must be achieved. The accreditation number, level and credit value of each unit is as follows:
Mandatory units
Principles of recording and processing financial transactions - A/600/8756 (level 2 – 2 credits)
Professional values and basic business legislation - F/600/8757 (level 2 – 1 credit)
Principles of VAT – F/600/4952 (level 3 – 2 credits)
Banking procedures - A/600/8739 (level 1 – 1 credit) *
Preparing and recording financial documentation – J /600/8758 (level 2 – 2 credits)
Maintaining petty cash records - R/600/8746 (level 1 – 1 credit)*
Maintaining and reconciling the cash book – L/600/8759 (level 2 – 2 credits)
Maintaining the journal – T/600/8772 (level 2 – 2 credits)
Processing ledger transactions and extracting a trial balance – F/600/8760 (level 2 – 2 credits)
Maintain control accounts – K/600/8770 (level 2 – 1 credit)
* If already covered in level 1 then no need to take the assessment

Assesment and Grading
With the introduction of the QCF the IAB has introduced additional assessments to supplement the standard form of examination. The additional assessments can consist of a combination of knowledge tests, assignments or a project. In order to successfully complete the qualification all the modes of assessment listed in the table below must be successfully completed.
For this qualification the IAB will provide all assessment material including knowledge tests, assignments and examination. For assessments other than the examination it is expected that the accredited centre will mark the original scripts with a 20% sample being forwarded to the IAB for external moderation. Front sheets will be supplied with answer books which will allow the recording of the marks for the assessment and allow for details of internal verification and external moderation. IAB examinations will be offered as standard sittings in January and June, or on an ‘on demand’ basis. All ‘on demand’ sittings are subject to a minimum period of notice.

Read More: http://www.iab.org.uk/Docs/L2CertificateInBookkeepingQCF-Qualspec.pdf