IAB QCF Computerised Bookkeeping qualifications Karen Groves IAB Examiner

LEVEL 1 AWARD IN COMPUTERISED BOOKKEEPING Level 1 - 2 Units, 4 Credits Unit Titles: Prepare and Record Sales and Purchase Documents using a Computerised System Record Routine Bookkeeping Transactions using a Computerised System Method of Assessment: One end examination of 1½ hours

LEVEL 1 AWARD IN COMPUTERISED BOOKKEEPING Prepare and Record Sales and Purchase Documents using a Computerised System Set up Case Study and financial year Set up Nominal Codes Set up customer and supplier details Customer & supplier invoices, credit notes, receipts and payments Service invoice preparation, printing and updating ledgers Non-credit receipts and payments Petty Cash Printouts

LEVEL 1 AWARD IN COMPUTERISED BOOKKEEPING Record Routine Bookkeeping Transactions using a Computerised System Invoices, credit notes, receipts and payments Simple corrections Bank Reconciliation Printouts Second half of paper shorter than first – difference taken up in marking

LEVEL 1 AWARD IN COMPUTERISED BOOKKEEPING January 2013 Results Pass mark 60% 88% of candidates passed both Units 12% of candidates failed one/both Units

LEVEL 1 AWARD IN COMPUTERISED BOOKKEEPING Problems encountered with candidates performance Ensure the word ‘Sales’ and ‘Purchases’ were used to identify nominal codes 4000, 4001, 5000 and 5001 Few candidates, despite entering the service invoices, hadn’t produced the invoices as requested Ensure the correct VAT amount was entered Enter Petty Cash Vouchers as payments and processed as receipts instead Omitting references and details Failed to carry out Bank Reconciliation Printouts

LEVEL 2 AWARD IN COMPUTERISED BOOKKEEPING Level 2 - 2 Units, 6 Credits Unit Titles: Setting up Accounting Software to Manage Accounting Information Process Routine Payments and Receipts using a Computerised System Method of Assessment: One end examination of 2 hours

LEVEL 2 AWARD IN COMPUTERISED BOOKKEEPING Setting up Accounting Software to Manage Accounting Information Set up case study, accounts, financial year Set up assets, liabilities, capital and budgets Invoices, credit notes, receipts and payments Non-credit receipts and payments Journals Printouts

LEVEL 2 AWARD IN COMPUTERISED BOOKKEEPING Process Routine Payments and Receipts Using a Computerised System Petty Cash Non-credit receipts and payments Corrections Wages Journal Bank Reconciliation Printouts

LEVEL 2 AWARD IN COMPUTERISED BOOKKEEPING January 2013 Results Pass mark 60% 81% of candidates passed both Units 19% of candidates failed one/both Units

LEVEL 2 AWARD IN COMPUTERISED BOOKKEEPING Problems encountered with candidates performance Double entry and the use of the suspense code in the opening balances Correctly enter the budget figures Correctly process the contra entry Correctly process the cash sale Correctly process the wages journal Omitting references and details Failed to carry out Bank Reconciliation Printouts

LEVEL 3 AWARD IN COMPUTERISED BOOKKEEPING Level 3 - 1 Unit, 10 Credits Unit Title: Managing a Computerised Accounts System to Provide Management Information Method of Assessment: One end examination of 3 hours

LEVEL 3 AWARD IN COMPUTERISED BOOKKEEPING Managing a Computerised Accounts System to Provide Management Information Set up initial data including VAT Scheme Enter credit and non-credit transactions Enter Journals Process credit card transactions Period end adjustments (stock, provision for doubtful debts etc.) Amend the Chart of Accounts Printouts – review printouts

LEVEL 3 AWARD IN COMPUTERISED BOOKKEEPING January 2013 Results Pass mark 60% 73% of candidates passed 27% of candidates failed

Candidates’ performance – Problems encountered LEVEL 3 AWARD IN COMPUTERISED BOOKKEEPING Setting up Accounting Software to Manage Accounting Information Candidates’ performance – Problems encountered Incorrect tax codes used and transactions plus VAT instead of including VAT Incorrect nominal codes (and suspense code) used Sales receipts/ versus Payment on account Omitting references and details Correction facility and Journal reversals Printouts – incorrect parameters

Problems encountered with candidates performance LEVEL 3 AWARD IN COMPUTERISED BOOKKEEPING Setting up Accounting Software to Manage Accounting Information Problems encountered with candidates performance Dealing with brought forward prepayments and accruals Disposal/Acquisition of Fixed Assets Goods for own use Adjustments for prepayments Wages Journal Correctly clear the VAT Control Accounts Correctly calculate the depreciation of Fixed Assets Correctly calculate the N.P.M for the year to January Chart of Accounts not adjusted

MARKING SCHEME LEVELS 1 - 3 Fundamental principle Start with 100% Three marks (%) deducted for a fundamental error Four marks (%) deducted for a missing transaction One mark (%) deducted for a cosmetic error 60% pass mark

PRINTING Candidates responsibility to ensure correct printouts are submitted and in the correct order Print out during exam and at the end. If not possible: Centre to facilitate saving in pdf in candidate’s own folder Preferably candidate to print out from folder If not, invigilator or technician and reports to be put in the order saved by the candidate WHERE NEITHER THE AUDIT TRAIL NOR THE TRIAL BALANCE IS SUBMITTED THE CANDIDATE WILL FAIL