Level 2/3 Finance Qualifications

Overview

  • The Norfolk County Council Education Finance team have developed two online educationally contextualised finance qualifications that correlate with the ISBL professional standards and are available as national qualifications.

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Qualifications

Bookkeeping in Education - Level 2

In this Level 2 national qualification you'll learn how to manage the books of an educational establishment, including the foundations of accountancy and double-entry bookkeeping.

There are 14 lessons within this qualification all tailored to bookkeeping in educational establishments, including:.

  • Introduction to Bookkeeping - An introduction to the world of accountancy, VAT and bookkeeping in educational establishments

  • Buying Goods and Services - Purchasing regulations, documents, payment methods and how to record accounting entries for purchases

  • Selling Goods and Services - Sales documentation, customer statements and how to record accounting entries for sales

  • Receipts and Payments - How to record accounting entries for receipts and payments, purchasing cards and petty cash

  • Payroll - An introduction to payroll and how to record accounting entries for payroll transactions

  • Capital and Fixed Assets - An introduction to capital expenditure and fixed assets and how to record accounting entries for acquisitions

  • Period End - Period End processes, recording journals and completing a bank reconciliation

  • Trial Balance - An introduction to the Financial Statements and the preparation of the Trial Balance

Each lesson provides practical, real-world accounting and finance knowledge that you can put to use from day one.

Administering Finance in Education - Level 3

In this Level 3 national qualification you'll master day-to-day accountancy processes while making a significant contribution towards the achievement of your establishment's educational goals.

There are seven mandatory units within this qualification, all of which are focused on educational establishments.

  • Bookkeeping - How to manage the books including the foundations of double-entry bookkeeping and associated documents and processes; also available as a separate qualification

  • Costing - How to extract costing data and perform calculations to provide essential information, to inform decision-making processes

  • Procurement - How to obtain value for money using the procurement cycle when purchasing goods and services in educational establishments

  • Preparing financial accounts - How to account for fixed assets and make end of year adjustments to the financial accounts

  • VAT - How to account for VAT in order to comply with legislation and how to perform the calculations needed to complete a VAT return

  • Internal control systems - How to identify the typical internal controls implemented to protect educational establishments against financial fraud

  • Budgeting - How to set a well-informed, balanced budget and identify variances between budgeted and actual figures

Each unit is published on the Regulated Qualification Framework and provides practical, real-world accounting and finance knowledge that you can use from day one.

About the qualifications

  • The level 2 and 3 qualifications are suitable for those working at a foundation practitioner level across the ISBL Professional Standards in a Finance Administration or similar role. Both qualifications have been fully mapped to the ISBL professional standards which can be viewed by clicking here.

  • Each qualification is delivered through an online learning package, with the following features:

    • Online lessons - Engaging and interactive bite-sized online lessons allowing you to learn at a time convenient to you

    • Learning Hub - Exclusive access to an online Learning Hub to help you manage your learning

    • Knowledge checks - Regular knowledge checks to help keep your learning on track and achieve success

    • Support helpline - Access to a dedicated support line when you need extra support and guidance

  • Total study time for the level 2 qualification is around 50 hours and for the level 3 qualification is around 180 hours.

  • There are no specific entry requirements to take either qualification but it is most suitable for those already working in a finance role within an educational establishment.

  • The level 2 qualification is assessed through an online open-book assessment and the level 3 qualification through an online exam and portfolio.

  • The level 2 Bookkeeping in Education online learning package is £200 per person.

    The level 3 Administering Finance in Education online learning package is £1250 per person.

Bookings

To progress an order please click on the link below and complete the form:

Please ensure that you identify the ‘ISBL website’ for question 9 ‘How did you hear about our qualifications?’

Alternatively if you have specific queries related to the programmes, please contact Norfolk County Council on:

  • Tel: 01603 306407

  • Email: financequalifications@norfolk.gov.uk

For any enquiries, please contact: training@isbl.org.uk