Designed to provide learners with a knowledge and understanding of the International Accounting Standards applied when drafting financial statements for a limited company, equip learners with the skills required to draft financial statements for a single limited company, and prepare consolidated financial statements for a group of companies.
The qualification is made of one examination, upon completing will be awarded a Level 4 Certificate in Financial Accounting (VRQ)Awarded by the International Association of Bookkeepers
- Understand the legal status of a limited company
- Prepare and appraise financial statements
- Account for the capital structure of a limited company
- Prepare a Statement of Profit or Loss and a Statement of Financial Position for internal use
- Understand the need for a regulatory framework
- Understand the purpose of the Conceptual Framework for Financial Reporting
- Apply International Accounting Standards
- Prepare a Statement of Profit or Loss and a Statement of Financial Position in published format
- Prepare a Statement of Cash Flows
- Prepare consolidated financial statements
- Calculate and interpret accounting ratios and appraise financial performance
Who is this course for?
The IAB Level 4 Certificate in International Accounting Standards and IFRS (RQF) qualification is designed to appeal to the following learners:
1. Those who already hold the IAB Levels 2 and 3 Bookkeeping and Accounting qualification, or other bookkeeping/accounting equivalent accredited qualifications recognised by the IAB, and want to further their studies at an advanced level.
2. Those who already have some experience of bookkeeping and accounting as senior bookkeepers, accounting technicians or in allied roles, but wish to enhance their knowledge and skills so that they can perform some of the more advanced routine and non-routine tasks associated with accounting for limited companies.
3. Those who may wish to continue to a higher level of study in accounting and related subjects by ultimately progressing to chartered level.
No prior experience required
Upon completing the course, the candidate can start to work as an Accounts Assistant, Admin Assistant, Bookkeeper etc
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