Terms and Conditions: Please read carefully!
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IAB level 3
Diploma in Small business financial management (Qual. Accreditation No. 500/4021/2)
The overall aim of the qualification is to accredit the knowledge and skills of candidates relevant to the fundamentals of financial management relating to the small enterprise.
Within the qualification, candidates have the opportunity to develop their knowledge and skills associated with the key financial management tasks to be performed by those operating small firms. Specifically, they should be able to perform tasks relating to the keeping of records, VAT, payroll, the preparation and interpretation of final accounts, taxation and reporting to HMRC, costing and pricing of products, management of working capital and financial planning and control.
To be awarded the qualification, candidates are required to successfully demonstrate their competence in the satisfactory completion of eight externally set and internally assessed assignments. Each assignment is linked to one of the eight Units – each of which is mandatory if a candidate wishes to gain the full award. Being unitised, candidates may decide that they wish to complete and achieve a pass in some but not all of the eight units. Upon payment of the relevant published fee, such candidates may apply for a Certificate of Achievement for those Units that they have achieved (passed).
The qualification provides knowledge, understanding and skills relevant to the NVQs in Accounting at Levels 2, 3 and 4 and Payroll at Levels 2 and 3.
There are no formal entry requirements. It is advisable for candidates to have ability in both arithmetic and English at Level 2 prior to embarking on study for this qualification.
Holders of the IAB qualifications identified below, or their equivalents, are granted APL/exemptions from the following Units of Small Business Financial Management:
Unit Number IAB qualification allowed APL/exemption
1 IAB Level 2 Certificate in Book-keeping 2 IAB Level 2 Certificate in Book-keeping 3 IAB Level 3 Diploma in Payroll 4 IAB Level 3 Certificate in Accounting and Advanced Book-keeping. 5 IAB Level 4 Diploma in Business and Personal Taxation
6 IAB Level 3 Diploma in Cost and Management Accounting
As an AAS Training student you will have your very own personal tutor helping you with your course work and with any questions you may have. Plus you can contact our Student Advisors by email or phone for all the practical advice you may need – so we really are with you 100%.
What's more you'll have access to the AAS Training online Student Community where you can interact with other students, browse our resource library and manage your account.
All Units have an associated, practical assignment, each one being externally set by the IAB. Each of the eight Units will be internally marked by centres. The IAB will provide centres with the assignment briefs upon registration of candidates. Centres are to mark the assignments for the eight Units in accordance with the published IAB guidance. An independent assessor, who will have been nominated by the centre and approved by the IAB, will mark one of the eight module assignments. This independent assessor will not teach on the course, but will be suitably qualified and experienced. After completion of the marking, assignments are to be submitted to the IAB which will then perform a moderation of the marking to ensure that national standards are applied. A minimum of one assignment of each and every candidate will be selected for moderation. Upon payment of the relevant published fee, those candidates whose assignments are assessed and moderated as below the standard required for a pass to be awarded, are able to attempt further (different) assignments and be re-assessed.
All assignments will be directly related to the Learning Outcomes and Assessment Criteria of the Units with which they are associated. Over time (i.e. several series of assignments), the assignments will cover all of the learning outcomes of Units. A single series of assignments will explicitly cover at least 75% of the Learning Outcomes and Assessment Criteria of the qualification.
In completing their assignments, candidates will be required to carry out all tasks accurately and in keeping with book-keeping and financial management practice in the context of a small business. Assessment Criteria will reflect these requirements.
In order to achieve a Pass, candidates will be required to achieve the minimum criteria for a pass associated with each assignment.
Results will be graded Pass or Fail only.
Please note, that exam fees are separate to course fees and are payable directly to the IAB upon signing up for the actual exam. Exams are held in January and June, please click here for more information on exam fees, timetables and registration deadlines.
When the time for exams come you would need to contact the IAB directly on 0844 330 3527, explain that you are a distance learning student with AAS Training and they will appoint you to the nearest exam centre to your location.
"The Book-keeping course is everything I wanted. I've worked as a book-keeper for a while, but I wanted to take the AAS Training course to prove to myself I could do it. I've been very satisfied with the service I've received – in particular, my tutor has been very helpful in giving me feedback and advice. I would recommend AAS Training." Timoty Anderson, AAS Training Graduate.
The survival of all commercial ventures, charitable and public sector agencies depends on tight financial controls. Therefore, there will always be demand for individuals with the skills base to ensure these controls are in place.
