Advanced Book-keeping

If you’ve already completed our Essential Book-keeping course or have an existing knowledge of book-keeping practices, this higher-level course is the logical next step for anyone wishing to build on their knowledge and further develop their skills. If you’re running your own business or considering a career in book-keeping, the extra areas covered by this more prolific distance learning course will prove invaluable. You’ll look at more advanced concepts such as depreciation, partnership accounts and stock valuation, and learn everything you need to manage the accounts of a business. Once you’ve completed this course you’ll be ready to sit an exam leading to a qualification from a number of awarding bodies, including the Institute of Certified Book-keepers.


Course fee£375.00
Registration fee£55.00

Course requirements

You will need to have achieved ICB Level II Certificate in Book-keeping or its equivalent with another awarding body to start this course. Please check all requirements with the awarding body before you begin the course.

Duration of study

As a guideline, you should allow for approximately 60 hours' study time, plus additional time for completing assignments. You will have tutor support for a period of up to 12 months from the date of enrolment.


This course will help to prepare you for one of the following qualifications, for which you will need to sit an exam:
  • IAB Level 3
  • ICB Level 3

NEC will register you with ICB within 6 weeks of enrolment. If you would prefer not to be registered, please contact us to discuss this when you enrol.


Unit 1: Trading and profit/loss account – sole trader
  • Preparing final accounts
  • Identifying items in the accounts
  • The trading and profit/loss account
  • Balance sheet
  • Adjustments to the accounts
  • Extended trial balance

Unit 2: Depreciation
  • Reasons for depreciation
  • Methods of depreciation
  • Where depreciation is not for a whole year
  • Accounting entries for depreciation
  • Disposal of a fixed asset

Unit 3: Incomplete records
  • Organisations that use incomplete accounts
  • Dealing with incomplete accounts

Unit 4: Partnership accounts
  • The Partnership Act 1890
  • Partnership agreements
  • Partners' current accounts
  • Profit/loss appropriation accounts
  • Loans from partners
  • Changes to partnership arrangements
  • Revaluation of assets and liabilities on admission of a new partner
  • Goodwill
  • Retirement of a partner
  • A change in profit-sharing ratio

Unit 5: Manufacturing accounts
  • Types of stock
  • Types of cost
  • Manufacturing account
  • Worked example
  • Trading account of a manufacturing business

Unit 6: Income and expenditure accounts
  • Clubs, societies and charities
  • The accounts of clubs, societies and charities

Unit 7: Company accounts
  • What is a limited company?
  • Forming a company – an introduction
  • Financing a limited company
  • The accounts of a limited company
  • Reserves
  • Journal entries to record the sale of shares
  • Redemption of shares and debentures
  • Cash flow statements

Unit 8: Control accounts, suspense accounts and correction of errors
  • Control accounts
  • Suspense accounts and errors
  • Limitations of trial balances and control accounts

Unit 9: Interpreting accounts – accounting ratios
  • Why use accounting ratios?
  • Ratios which are commonly used

Unit 10: Stock
  • Valuation of stock
  • FIFO and LIFO methods of stock valuation
  • AVCO method of stock valuation
  • Continuous weighted average
  • Retail selling price
  • Working with stock records
  • Stocks of consumable stores
  • Other stock notes

Exams and assessment

This course will help to prepare you for one of the following qualifications, for which you will need to sit an exam:
  • IAB Level 3
  • ICB Level 3

NEC will register you with ICB within 6 weeks of enrolment. If you would prefer not to be registered, please contact us to discuss this when you enrol.


Assignments do not contribute towards your final grade but provide you with an opportunity to submit work to your tutor for marking and feedback. This will help you to gauge your progress as you work through the course.

This course has:
  • 8 assignments

Set texts and resources

This course is entirely self-contained so no additional textbooks are required.

Using learn@nec

Your course is delivered online through learn@nec, so it’s important that you have access to a computer and the internet. We recommend that your computer is using one of the following operating systems and browsers to improve your experience of using learn@nec:

Operating systems:
  • Windows 7 or later
  • Mac OSX 10.7 or later
  • Google Chrome OS
  • Android 4.4 or later, using the Chrome browser
  • iOS 6 or later, using the Safari browser

  • Google Chrome (latest version)
  • Mozilla Firefox (latest version)
  • Safari 6 or later
  • Internet Explorer 10 or later (excluding IE11)

learn@nec may work on other operating systems and browsers with some restrictions. You can see full details of the system requirements by clicking here.

How to enrol

For this course there are two ways to enrol with NEC:
  • Telephone us on 0800 389 2839 or +44(0)1223 400200 and speak to our course advice team.
  • Ask us to send you an enrolment form which you can complete and return by post.

Paying in instalments

It’s your choice: you can pay in full at the point of enrolment, or you can spread the cost over monthly instalments with our finance offer. To pay in instalments you will need to enrol by telephone.

Representative example:
Course fee:  
Amount of credit:  
Monthly payment:  
Duration of agreement:  
Total repayable:  
Rate of interest:  
0% APR representative.  
  6 months

The National Extension College (NEC) is the trading name of the Open School Trust, which is authorised and regulated by the Financial Conduct Authority (register number 676788). Finance is provided through the Deko platform by a number of lenders. You will be offered the best rate available based on your credit history and the lenders’ credit decision policies.

Deko is a trading name of Pay4Later Ltd who act as a credit intermediary. They are registered in England and Wales (company number 06447333) and authorised and regulated by the Financial Conduct Authority (register number 728646). For more information please go to or visit
Including area code and country code (if outside of UK)

Advanced Book-keeping Course Sample

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What our students say...

"The NEC materials were very good. They helped break the subject down into clear goals, followed by questions and short tests for each learning goal. They were great and made it a lot easier to work through."
— Karen Brayne