I have just completed (and passed) Level II Manual and computerised level. I help out a landscaper (Ltd. Co.) with his accounts (on Sage). Do I need to sit the manual to do this, or will computerised do. An accountant finishes his year end accounts.
Any help will be gratefully received.
Kind regards
Lynda
-- Edited by Jymlyn on Thursday 7th of October 2010 07:59:23 PM
I assume you're talking about Level 3 as you've passed Level 2.
My understanding is you need L3 Computerised (L3C) to do this, that's what ICB advised me when I rang them about possibility of doing some self-employed Sage work for a local company.
If you are already doing Sage work for Ltd Co I don't think you'll have any problem passing L3C, even though it is more complex than Level 2. My only experience of Sage is passing the Stage 1-3 Certification process for Sage 50 Accounts 2010, yet I've just done the L3C past paper (available to download from ICB online shop for £5 and well worth it) over last few days and felt confident to buy the exam itself (£30 via ICB shop), which is being mailed to me today for return within 2 weeks. As with L2C, results should be available within 4 weeks of exam start date (posted online).
So if you want to have a go at L3C, timescale might be: - download and do the past paper over 1 or 2 weeks, then order exam proper before a Friday - do proper exam and await result, 4 weeks So 5-6 weeks in all.
Thanks ever so much to you both for your great advice. I will go ahead and order Level 3 computerised and hope I get a pass!
With regards to doing the manual level 3 by September 2011 - I thought I was compliant by being an AICB CB.Cert.? I have just sent back the exam for Diploma in Payroll Management, so I will think seriously about Level 3 manual. Will try and do the Level 3 past paper first though.
I'm really confused about what you can do and when for a limited company. When I spoke to ICB I was told "anything you've passed an exam in". As far as I'm concerned once you reach AICB CB.Cert, I can't see why you can't do the majority of ledger work for a Ltd Co.
Perhap's I'm wrong but I can't see a difference raising sales invoices, posting purchase invoices, setting up accounts, bank reconciliations etc. The only real difference I can think of are transactions to do with capital and dividends.
I think it would be useful if there was some sort of clear explanation on the ICB Members section
-- Edited by ADAS on Friday 8th of October 2010 07:54:00 PM
__________________
Tony
Responses are intended as outline only. Formal advice should be sort from your Institutes Technical Department or a suitably qualified Accountant.
Reading you OP, I agree, you have completed manual and compterised level II, so are compliant for AICB, and you can carry out bookkeeping for a Ltd company but not prepare the final accounts. To do final accounts you need level III (both parts by September to remain compliant to Level III)
Quote from ICB website
"The core bookkeeping qualifications are awarded at three levels: Level I covers double-entry bookkeeping to trial balance, Level II covers the preparation of final accounts for a sole trader, and Level III covers drafting final accounts for Limited Companies and the preparation of accounts for a wider range of businesses."
Yes you are currently compliant, but you mentioned doing the Computerised Level III, which would mean you could upgrade to a AICB CB.Dip (being discontinued as it is half way between AICB and MICB in the new structure).
When the new structure takes place you would affectively become just AICB again, and be part way to MICB. So the only thing left would be the Level III Manual.
