Qualifications Required For AAT Level 2 and AAT Level 3 Advanced Diploma
AAT Level 1 is the foundation course required for anyone wishing to take up banking as a career. This course is designed for the complete beginner and introduces them to the different aspects of banking that include money management, business analysis, risk assessment and budgeting. Level 1 also covers general accounting principles, including principles, guidelines and techniques used at all AAT B licence level. At the end of AAT Level 1, you will be expected to apply some of your knowledge through a practicum in a real life setting. The most commonly used practicum topics include taxation, company management, business valuations, mergers and acquisitions, and contract management aat level 2.
At AAT Level 2, students will have gained enough knowledge and have been studying for a year or longer, depending on their country of study. There is a greater emphasis on the financial and accounting areas of management studies at this level, due to the need for individuals working within a business to have a solid knowledge of cost accounting and spreadsheet software, as well as an ability to analyze data and use accounting formulas. To prepare for the exams at this level, students will need to complete a core workload of over 120 hours of AAT courses. Unit analysis, data sourcing and scheduling, cost accounting and cost forecasts are some of the topics covered. These units are split into modules, each of which must be passed before progressing to the next level.
At AAT Level 3 aat level 3, students will have completed a full accounting year and will have achieved their aat qualification. It is now time to select subjects for the next two years of study. Some countries may choose subjects from the same area as level one, while others may choose separate topics to build further skills and knowledge. Courses include financial and business analysis, managerial decision making, payroll, project management and development and taxation.
At AAT Level 3, students will have a more detailed understanding of accounting concepts and will have developed the abilities required to manage their own books and accounts. This includes the ability to enter transactions in a journal’s section, double entry book keeping and the ability to understand and use journal entries. They will have also developed a strong command over the use of spreadsheets, including using Microsoft Office, as well as the spreadsheet software package Open Office. It is important to note that for individuals wishing to progress to the a higher grade, a combination of accounting knowledge and managerial skills is essential. In particular, it is important to know how to enter transactions into the correct journal and to understand the significance of journal entries.
At AAT Level 4, students will know how to use accounting spreadsheets to create statements, as well as how to read a spreadsheet to find the relevant information required by the task at hand. They will have also become aware of common accounting practices, such as adding an item to the balance sheet, deducting an item from the balance sheet and taking a cash advance against a debt. At this level of AAT qualification, students will be able to qualify for managerial and supervisory positions in a company. In addition, it will be possible to apply for a position in the government sector. This qualification is recommended for students planning to enter the workforce immediately after completing their education, as it provides a solid foundation for building a career. It may also be necessary to apply for certain positions in a company after achieving a qualification at this level.
At AAT Level 4, students will be able to handle accounting tasks involving invoicing, client billing, sales, finance and human resources. They will also have developed the ability to make sound financial decisions, enter data into data storage systems and understand mathematical concepts such as recurrence formulas. At this level of qualification, it will be possible to apply for managerial and supervisory positions in a company. To advance to this level, it may be necessary to take further examinations. For those wishing to progress to a senior accountant or to apply for a position at the Ministry of Finance, it may be necessary to take further examinations. For further information regarding qualifications required for AAT qualification levels, or to enquire about prerequisites, please contact the University of Auckland.