IdealSchools Forum / Course discussion / ICB Courses

ICB Level II Manual - Assignment 1

Mary — Thu, 27 Oct 2011 21:33:20 GMT

Hi,I hope somebody can help me. I am working on my first assignment and am slightly confused by qu.10 (1). Do I need to just enter the transactions in the General Ledger and not include Sales or Purchases Ledgers, or do I need to prepare Petty Cash & Cash Books. When it says "You do not need to use subsidiary books" are these the Sales & Purchase Ledgers?I've had quite a long break from studying & my brain appears to have turned to mush!Thanks,Mary

clubs & societies Q1 on assignment 6 (level 2)

Penny Pinder — Wed, 01 Jun 2011 17:02:08 GMT

Hi team - i have just spent most of the afternoon trying to complete assignment 6 on level 2 manual - Q1 is around clubs & society final accounts. I rang with a query to find this is no longer required for level 2 manual and moved to level 3. However I have just checked ICB website syllabus tab and it confirms clubs/society receipts/payments, income/expenditure is still on syllabus at level 2.Can you please confirm what level this is now at please as my exam is in 2 weeks.Thanks Scott for the answer to Q1.thanksPenny

Case Studies

sjp — Thu, 03 Mar 2011 15:42:10 GMT

Does anyone know where I can get some more cases like the ones in the ICB Manual Level 1 course. I have just submitted my last assignment and will soon be doing my exam, but I wanted to some case studies as these really helped me grasp things and feel confident in what I was doing, plus I enjoyed doing them. :DThanksSJ

purchase returns - help

sjp — Tue, 01 Mar 2011 18:55:17 GMT

Hi, I am just finishing me level 1 and come across a question whereby items are returned to a suppler as faulty, he paid cash and the faulty items total is £x, he paid cash postage on the returned items costing £y.Now I know to cr purchase rtns £x and open account for suppler and dr £x.What I am unsure of is where to post the £y to, as a later question says he receives replacement goods which is straight forward enough dr purchase rtns £x cr supplier account £x, but for the postage he paid he receives a postal order which he cashes and puts in his till.My confusion is where to post the postal charges he paid and the postal order he receives, any help will be much appreciated so I can understand where I am going.Thanks SJ

VAT Fraction for 20% VAT Rate

CathyB — Fri, 28 Jan 2011 14:43:52 GMT

I have recently received the e-mail directing me to Level revised pages for the VAT fraction for the new VAT rate.Previously it was given as 7/47 (17.5/117.5) which would not simplify further.The new rate however is given as 8/48 which will simplify further to 1/6 and which is a much easier simplification directly from the original 20/120.While 8/48 looks more like 7/47, 1/6 is much easier to work with. What is the reason for using 8/48 rather than 1/6? Would we get marked down if we showed our working using 1/6? The answers use 8/48 which would suggest that 1/6 is not correct when it is.

Help needed with a manual payroll question

michelle — Sun, 14 Nov 2010 11:31:33 GMT

Im currently studying payroll management level 3, and Iv become a bit stuck on assignment 6 question 1 its really confusing me...Its asking what the NI contributions would be for an employee who earns £7319 in month 8, now I understand how to use the NI table but its gone about the UEL - which the table refers me to page 70 of the document and Iv worked out the first steps but its now asking to add other stuff on thats just going over my head, if anyone could help out that would be great :) Thanks Michelle

Suggestions for Coursebooks

CathyB — Mon, 18 Oct 2010 00:12:19 GMT

I have started working on my level 1 Basic Book keeping and have been doing the progress tests as I go. I would like to keep my attempt at the test in the binder immediately following the test, however the next section often follows on the back of the progress test page. This means that I have to insert my answers before the test they will break into the next section. So, my suggestion: Always start the page following a progress test as a right hand (odd) page.This may leave a few blank sides of paper, but it will make it a bit easier for us students to keep our answers with the test.

Formatting Assignments using Word

LauraH — Thu, 22 Jul 2010 12:45:44 GMT

Hi all, I am starting to get frustrated whilst typing my assignments up to be emailed off to be marked. I am currently doing level 1 basic book keeping after enrolling on the career path. I always scribble out my assignment first and then sit in front of the computer to type them up to present them.What I am finding now, is that I am spending more time trying to format the document than I am actually writing the assignment! How is everyone else doing this?:crazy:

BREAKING NEWS - T Account template now available

Jo — Wed, 25 Aug 2010 13:35:34 GMT

Spread the word - We now have a T Account template on the website. It's very basic but nonetheless does the job and is available to all students to download and amend as they see fit.

Go to www.idealschools.co.uk
Click on the students area tab within the blue bar at the top
Click on updates
Sign in using your student number
Scroll down to the update re T accounts

Hopefully this will make studying a little easier for some of you :D

Good luck to all

Kind Regards

Double Entry Stationary

DaveBell — Mon, 23 Aug 2010 14:21:23 GMT

Hello allDoes anyone know of a good value supplier of double entry paper? I've just started studying bookkeeping and am presently using books of paper from high street stationers which is proving quite expensive.Any suggestions greatly appreciated.Dave Bell