LCCI Level 1:
Certificate in Bookkeeping

Aims

The aims of this qualification are to enable candidates to develop:

• An understanding of the basic principles underlying the recording of business transactions.
• The ability to maintain the books of, and prepare final accounts for, sole traders.

Syllabus Topics

1. The Accounting Equation and the basis of double entry book-keeping.
2. Recording transactions through double-entry.
3. Balancing accounts.
4. Purchases/sales/returns.
5. The ledger: its subdivision.
6. Day books.
7. Bank facilities/methods of payment or receipt of money.
8. Cash book and cash discount.
9. Bank reconciliation.
10. Petty cash book and the imprest system.
11. Trial balance.
12. Adjusting for accruals and prepayments in the final accounts.
13. Depreciation of fixed assets.
14. The entries relating to bad debts.
15. The journal.
16. Capital and revenue expenditure.
17. Errors in the accounts and their correction.
18. Effect of profit (or loss) and drawings upon capital.
19. Trading and Profit and Loss accounts.
20. The Balance Sheet.
21. Control accounts – an introduction.

Coverage of Syllabus Topics in Examinations

At least 2 of the following syllabus topics will appear in each examination:

9. Bank reconciliation
10. Petty Cash Book and the Imprest System
16. Revenue and Capital Expenditure
19. Trading and Profit and Loss Accounts
20. Balance Sheet

Examination Format

• The time allowance for the examination is 2.5 hours
• There will be 4 questions on the examination paper
• All of the questions will be compulsory
• Each question will carry equal marks