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| IAB Diploma in Cost and Management Accounting |
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Introduction
The aim of this qualification is to accredit candidates’ knowledge and understanding of the fundamental principles concerned in the determining the cost of labour, materials and overheads so as to accurately ascertain the cost price and selling price of goods and or services.
Within the qualification, candidates have the opportunity to gain knowledge of the need for company’s to prepare reports for management and to be able to understand the outcome of those reports. Candidates will also be able to calculate Gross Pay and Employer Wage Costs and complete the necessary calculation associated with Stock Valuation and other material costs. Candidates will also be able to develop the skills necessary to prepare for the calculation of any variance from cost price to selling price and in usage and labour, and more complex calculations relating to stock. Finally the candidate will be able top prepare analysis of the way the company is performing.
The qualification requires candidates to understand the terminology relating to the costs of materials, overheads and labour, and be able to record these in the Books and accounts of the business. Accuracy, integrity and security of data should always be uppermost in the candidates mind.
Aims of the Course
This qualification is designed to provide candidates with :
- Assess their competence and understanding in carrying out a range of day-t-day book-keeping routines and activities using a manual book-keeping system. The activities will include routine book-keeping tasks and the productions of complex financial statements for a Sole Trader, Partnership or Limited Company from both complete and incomplete records.
- To assess their understanding of the importance of maintaining accuracy, security and integrity in performing any book-keeping tasks using a manual accounting system.
Prerequisites
In order to satisfy the entrance requirements, all candidates must be at least 18 years of age or above.
There are no formal entry requirements for this qualification. It is advisable for candidates to have ability in arithmetic to embarking on study for this qualification.
Alternatively, they should have comparable prior knowledge and skills acquired through paid or voluntary work experience.
English Language Requirements
- IELTS 5.5 (minimum)
- TOEFL 550 (TOEIC 776)
Qualification Awarded
When qualified candidate will be awarded with the certificate for successful of IAB Diploma In Cost and Management Accountant.
Mode of Assessment
All diploma units will be assessed through one externally set and marked three hours examination consisting of five compulsory hands written questions each linked to one more of the four learning outcomes.
Awarding Body
International Association of Book-Keeping.
What Next?
This qualification has been designed to provide the essential knowledge, understanding and skills required to complement and enable candidates to progress to other related qualifications, such as the Higher National Diploma in Business, foundation and bachelor degree in Accounting, finance related courses, many of which are also offered by London Essex College
Duration
12-18 Months, Full Time/Weekdays/ Morning
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