ICB What you need to know

ICB What you need to know by Michael Cheary Big on bookkeeping? You should consider ICB…Whether you’ve always been interested in becoming a Bookkeeper, or you’re just looking to put your love of numbers to good use, an ICB qualification could be the perfect way to kick-start your career.Not sure what your options are? Here’s a quick rundown of what you need to know:What is ICB?ICB stands for the Institute of Certified Bookkeepers. It’s the world’s leading bookkeeping organisation, and has over 150,000 students and members across the globe.It is a not for profit organisation, with their primary aim being to promote and maintain the standards of bookkeeping as a profession, and increase recognition for bookkeepers as an integral part of the financial sector.What are the different ICB qualifications?There are four main levels of ICB qualification. These range from the introductory ICB Level 1 course, through to the more advanced Level 4 certificate.There are also a number of add-on qualificat ions, which run alongside the core four certifications. These range from specialist offerings for Payroll Management and Self-Assessment Tax, through to qualifications specifically catering for Financial Managers.Here’s a quick rundown of the different ICB qualifications:ICB Manual Bookkeeping Level 1 â€" Basic introduction to the principles of bookkeeping. There are no formal pre-requisites to get started, and no time limit for completion, making it the perfect first step for anyone looking to pursue bookkeeping as a career.ICB Level 2 Certificate in Bookkeeping â€" The beginner level of ICB qualifications, this course covers the basic principles of single and double entry bookkeeping and its application, both digitally and manually. Upon completion, you will be able to carry out the role of Assistant Bookkeeper. No requirement to complete Level 1 in order to take this qualification.The ICB Level 3 Certificate in Bookkeeping and Accounts â€" This level covers the preparation of l edger balances, control accounts and reconciliations, producing VAT returns, preparation of final accounts, and other, more complex Bookkeeping tasks. From this level, you’ll be qualified for bookkeeping roles, and have the ability to become self-employed.ICB Level 4 Certificate in Bookkeeping and Accounts â€" The advanced stage of ICB, this level builds upon everything you’ve learned in previous stages, and adds more complex elements of bookkeeping, such as how to produce a set of accounts from incomplete records, and the interpretation of internal management accounts.Other ICB qualifications include the stand-alone Level 3 Diploma in Payroll Management, and Level 3 Diploma is Self-Assessment Tax.ICB’s highest level qualification, the Level 4 Diploma in Financial Management, can be taken once all of the previous levels have been completed. To qualify, one of the following must be completed within a two-year period:Level 4 Certificate in Management AccountingLevel 4 Certificat e in Drafting Financial Statements Level 4 Certificate in Personal TaxLevel 4 Certificate in Business TaxView all ICB courses now »Why do I need ICB?ICB qualifications have earned a reputation as the industry-standard, and toughest, bookkeeping qualifications available in the UK. As a result, they are always in high-demand when it comes to employers looking to hire the very best Bookkeepers available in the field.ICB qualifications are also globally recognised, with members in over 100 countries around the world. They have established offices in Australia, South East Asia, Africa and Eastern Europe, which are responsible for setting standards of bookkeeping on a worldwide scale.How much can I earn once qualified?This will vary depending on a number of different factors, for example region, level of certification, previous experience and job title. Generally, those with the ICB Level 2 qualification will generally be earning somewhere in the region of £20,000 for an entry-level pos ition (as an Assistant Bookkeeper, for example).Fully qualified Bookkeepers will earn somewhere closer to £30,000, and those with a Level 4 Diploma in Financial Management could be on significantly more. For example, a salary of £40,000+ is more than achievable for a Qualified Management accountant.What methods of learning are there?The vast majority of course providers for ICB qualifications offer flexible studying options, which you can fit around your busy schedule. You can either choose to take them full-time or part-time, and online from your own home or within a classroom.Most courses also offer a mix of practical and online assessments, which allow you to get a broad range of experience in different types of bookkeeping, something which will stand you in good stead when it comes to finding a role after becoming qualified.How long will it take?This will often depend on the qualification, and the course provider.For some levels there will be no formal deadline for assessments , whilst others may limit the time you’re allowed to learn before you’re put to the test. As a general guideline, most levels will take around six months to complete.Advantages of becoming ICB qualifiedSome advantages of becoming ICB qualified include:• A practical qualification which validate your skills in bookkeeping• Global recognition• The ability to start any time, with qualifications being taken every week of the year• The opportunity to become self-employed• Being in-demand for some of the world’s leading employers• The chance to become a member of the world’s largest professional bookkeeping organisationFind a job What Where Search JobsSign up for more Career AdviceSign up for moreCareer Advice Please enter a valid email addressmessage hereBy clicking Submit you agree to the