ICB Associate Certificate in Bookkeeping & Accounts (Level 3)

The syllabus centres around the five assessments you must take before receiving your Level 3 ICB Certificate in Bookkeeping. Each assessment will test your knowledge and bookkeeping skills based on the course's six key topics. These topics include:

• Underpinning knowledge

• Reconcile accounts and correct errors

• Reconcile and produce a VAT return

• Contol the sales and purchases ledgers

• Calculate and post adjustments to the accounts

• Produce draft final accounts for internal payroll management purposes

• Interpretation of financial statements

The Level 3 ICB course can be completed within 6 to 12 months. We provide you with 12 months of access to the course so you can study the qualification at your own pace.

Format

ICB Level 3 Certificate consists of four online assessments, M4, M5, M6, and M7, and an M8 exam through remote invigilated examination. All these ICB examinations should be taken in numerical order, starting at M4.

M4 to M7 assesses your knowledge of final accounts for different business types, while M8 is a synoptic exam for the ICB Level 3 Certificate. We'll provide you with all the support and resources needed to pass your exams. (See Additional Benefits tab)

If you complete all five assessments, you’ll receive the Level 3 ICB Certificate in Bookkeeping and Accounts and can upgrade your member status to ICB's full membership. You'll then receive the designatory letters, MICB, and use the title in your bookkeeping profession.

M4 – Reconciliations and Final Accounts of a Sole Trader

M4 assesses your knowledge and skills in reconciling the final accounts for a sole trader business. Some of the key concepts M4 will assess you are:

• 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)

M5 – Final Accounts of a Partnership

M5 assesses your knowledge and skills in reconciling the final accounts for a partnership business. Some of the key concepts M4 will assess you are:

• All topics from M4 but set in a partnership scenario

• Underpinning knowledge

  • Ethical obligations and considerations

  • Legal requirements for a partnership

• Final accounts of a partnership, including the appropriation account and production of partners’ current accounts

• Calculations and bookkeeping entries to record a change of partnership (partnership ratios, goodwill, the effect on capital and current accounts, etc.)

M6 – Final Accounts for a Not-for-Profit Organisation

M6 assesses your knowledge and skills in reconciling the final accounts for a not-for-profit organisation. Some of the key concepts M4 will assess you are:

• All of the requirements of paper M4 but set in a not-for-profit scenario

• Underpinning knowledge regarding not-for-profit organisations

  • Understanding the different requirements of a chart of accounts for such an organisation

  • Understand the concepts of the different forms of income for not-for-profit organisations, including a subscription account

• Posting adjustments, including the subscriptions account and disposal and acquisition of fixed assets

• Final accounts of a not-for-profit organisation

M7 – Final Accounts for Incorporated Businesses

M7 assesses your knowledge and skills in reconciling the final accounts for a not-for-profit organisation. Some of the key concepts M4 will assess you are:

• Final accounts, including adjustments for a limited company (internal management accounts format only)

• Limited liability partnerships

• Calculation and interpretation of ratios

M8 - Level 3 Certificate in Bookkeeping and Accounts Synoptic Exam

M8 is the invigilated synoptic exam designed to test your comprehensive understanding of the entire Level 3 curriculum. It typically includes a mix of question formats, such as multi-choice and data entry.

Duration

Once you've started an exam, you must complete it within the exam duration. Remember to complete and submit your exam within 14 days of booking to avoid the assessment becoming void. Here are the duration for each exam at this level:

• M4 – Reconciliations and Final Accounts of a Sole Trader: 3 hours

• M5 – Final Accounts of a Partnership: 3 hours

• M6 – Final Accounts for a Not-for-Profit Organisation: 3 hours

• M7 – Final Accounts for Incorporated Businesses: 3 hours

• M8 - Level 3 Certificate in Bookkeeping and Accounts Synoptic Exam: 2 hours

Availability

All four online assessments are available on-demand, so you can book an exam once you've completed all the course materials for a particular assessment. For M8, you must complete the additional requirements before you book your remote invigilated exam. We'll assist you with the process and additional instructions for booking and registering for an exam.

You'll also need an active student registration or membership to take your exams. While we provide the exams in the course, annual student registration is separate from the course price.

ICB Level 3 Certificate in Bookkeeping and Accounts is ideal for individuals who are currently employed or self-employed in the finance sector. If you have previous qualifications or prior experience in the bookkeeping and accounting industry, this course is for you.

This bookkeeping qualification is an advanced bookkeeping certification for qualification holders who want to widen their bookkeeping skillset. It's also for aspiring bookkeepers who want to undertake additional study relevant to their field.

To study this ICB Level 3 course, we recommend that you:

• Have a solid understanding of the English language.

• Have basic numerical skills.

• Have achieved ICB Level 2 Certificate in Bookkeeping or equivalent qualification from an accredited awarding body.

• Have access to a PC or laptop (This course is compatible with both Mac and Windows).

• Have access to a secure internet connection.

Completing this bookkeeping course can help you position yourself for senior bookkeeping roles and climb the next step in your bookkeeping career ladder.

Most comprehensive course training at the most affordable price.

ICB designation: Receive your MICB designation awarded by the Institute of Certified Bookkeepers, which you can use in your professional bookkeeping career.

Comprehensive eLearning platform: Access an industry-leading eLearning platform that contains all the support and learning materials you need and has a user-friendly interface for easy navigation.

Responsive tutor support: Request unlimited tutor support from award-winning industry experts who aim to assist you with your learning and respond to you within 24-48 hours.

Interactive course content: Our interactive course content, consisting of engaging slides, videos, animations, and more, can help you engage with the lessons better. It can be found on our eLearning platform.

Fully accredited ICB courseware: Gain additional learning insights as we provide ICB-accredited learning resources, including pocket revision kits, practice papers, question banks, and exam preparation guides.

Flexible learning: Study at your own pace as you can access the course in our eLearning platform for 12 months.

Free Accounting Software: Learn computerised bookkeeping practices as we provide you with free accounting software such as Sage and Xero Accounting during your study of our course.

Sage Certificate included: Enhance your professional credibility and earn your Sage certification as an addition to your professional toolkit.

Mock exam papers: Our mock exam papers help you simulate and get a feel for the actual examinations, helping you prepare for your ICB exams.

Interest-free payment options: Our payment options make your education more accessible so you can study the course and start your learning journey without worries.

TOTUM Pro Card: Shop with discounts using TOTUM Pro Card, which offers discounts in selected stores and websites. 

Is ICB a good qualification?

Yes, ICB qualifications are recognised all over the world. The Institute of Certified Bookkeepers is one of the most prominent awarding bodies for the bookkeeping profession, having students and ICB members across 100 countries. ICB has an outstanding reputation and is trusted by employers, businesses, and organisations worldwide.

How do I get ICB certified?

To get ICB Certified, you must choose the ICB qualification you want to study and register as an ICB student. Complete the course materials and take the corresponding exams in the specified order. Upon completion, you can upgrade to full membership level in the ICB and become a certified bookkeeper.

What is ICB Level 3?

The ICB Level 3 Certificate in Bookkeeping and Accounts is one of the ICB bookkeeping courses and the vertical progression from ICB Level 2. This bookkeeping course equips you with the advanced skills and knowledge needed to tackle more complex bookkeeping tasks. In this course, you will precisely complete an initial trial balance, reconcile transactions, correct entries, post adjustments, prepare final accounts, and more.

How long does ICB Level 3 take?

At e-Careers, we offer flexibility on the course to allow our students to study at their own pace. Our students typically complete their ICB Level 3 Bookkeeping and Accounts course within 6 to 12 months.

What should I do next after I have completed the ICB Level 3 Certificate?

Upon completing the Level 3 ICB Certificate, you'll gain the designatory letters, MICB, which you can use in your professional employment or bookkeeping business. You can also pursue an accounting qualification to gain professional recognition in accounting and potentially specialise in areas like financial accounting, tax accounting, or auditing.

What jobs can I apply for after my ICB Level 3 Certificate?

Bookkeeper

Bookkeepers record daily business transactions and maintain the accuracy and completeness of the company's financial records and multiple accounts. The average salary of bookkeepers in the UK is £27,000.

Accounts Assistant

As an Accounts Assistant, you'll support accounting teams with tasks like preparing accounts, processing invoices, and handling balance sheets. The yearly salary of accounts assistants is £27,000.

Tax Assistant

A Tax Assistant is responsible for preparing tax returns, managing tax records, and assisting with tax compliance. Tax assistants earn about £29,000.

Payable and Expenses Supervisor

The Payable and Expenses Supervisor oversees accounts payable processes and ensures accurate and timely payments. This role has a salary of £30,000.