Course overview
This AAT Level 2, 3, and 4 Accounting course has been designed for those with little to no experience or knowledge of accounting, who wish to achieve a career in the field. The course will help you get to grips with bookkeeping basics such as transactions and controls, as well as how organisations record costs and how to use accounts software that will record and process transactions. During this course, you’ll also learn more about preparing final accounts, advanced bookkeeping tasks such as preparing and extending the trial balance, and how to accurately complete VAT tax returns. Your level 4 studies will explore topics such as business and personal tax, cash and treasury management, management accounting, and financial statements. AAT is the world’s leading professional membership body for accounting technicians, working with members around the world. Their accounting courses are highly sought-after and as an AAT qualification, this accredited accounting qualification will help you to progress in your career. You will need to complete your AAT exams to complete and achieve your qualification. You can choose to add your AAT exams to your enrolment. If you do not add your exams to your enrolment, you will be responsible for booking and paying for your exams. And if you’re thinking of going to university, the level 3 section of this course will allow you to gain up to 56 UCAS points to help you secure a place!
Recognition
Study method
- Blended
- Online
- In-class
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Duration study load
You will have up to 3 years to complete your courses from the date of enrolment. This is enough time for you to work at your own pace.
Entry requirements
You must be 16 years old in order to enrol onto this course, as well as have basic mathematical skills and IT literacy. The software is provided as a download so you will need to ensure that your computer has an internet connection.
Course features
- Dedicated personal tutor support
- Dedicated student support
- Assignment marking and feedback
- Free Sage 50 Accounts software
- Free CV critique service
- Free employability guide to help you impress future employers
- Free XO Student Discounts card
- Comprehensive study guide
- Open Study College pen and highlighter
- Student study planner
- Student notebook
- Document wallet
Assessment
During this course, you will complete a number of Tutor Marked Assignments in preparation for your exams.
To achieve the Foundation Certificate in Bookkeeping Level 2, you will need to sit four computer-based assessments and one computer-based synoptic assessment. These are sat under controlled conditions at an external exam centre.
To achieve the Professional Diploma in Accounting Level 4, you will need to sit four computer-based assessments and one compute- based synoptic assessment. These are sat under controlled conditions at an external exam centre.
All computer-based assessments are available on-demand throughout the year, while the computer-based synoptic assessments are available at set dates throughout the year.
Exams can be included in the cost of this course. If you don’t add these on, you will have to book and pay for these separately.
Delivery
Once you enrol, you will receive all course materials by post and a link by email to download your free Sage software. You will receive full tutor support for 3 years.
Are there any additional costs?
To sit your exams, you must join AAT as a student member, which will then give you access to their resources. It is your own responsibility to pay for your student membership payable to AAT.
If you didn’t include your exams, you will also need to pay for your exams, these fees will be paid directly to the exam centre.
Subjects
*GLH – Guided Learning Hours
- Understand financial transactions within a bookkeeping system
- Processing customer transactions
- Processing supplier transactions
- Processing receipts and payments
- Processing transactions through the ledgers to the trial balance
- Understanding payment methods
- Understanding controls in a bookkeeping system
- Using control accounts
- Using the journal
- Reconciling a bank statement with the cash book
- Understand an organisation’s cost recording system
- Using a cost recording system to record or extract data
- Understanding an organisation’s finance function
- Using numeracy, literacy and communication skills
- Working independently or in a team to prioritise tasks and manage colleagues’ responsibilities
- Understanding ethical values, principles and importance of confidentiality
- Understanding and explaining benefits to organisations of sustainable values
- Recording and processing customer and supplier transactions
- Recording and reconciling bank and cash transactions
- Processing and using journals to enter accounting transactions
- Production of reports for customer and suppliers
- Production of a trial balance and general ledger reports
- Understanding accepted principles of accounting and double-entry bookkeeping
- Understanding accounting methods of recording non-current assets
- Accounting for purchase of non-current assets
- Accounting for depreciation and adjustments
- Accounting for disposal of non-current assets
- Preparing and extending the trial balance
- Understanding the process involved in preparing final accounts
- Preparing accounting records from incomplete information
- Producing final accounts for sole traders
- Understanding partnerships’ legislative and accounting requirements
- Preparing a statement of profit or loss appropriation account
- Preparing a financial position statement relating to a partnership
- Understanding an organisation’s costing systems
- Recording and analysing cost information
- Apportioning costs to organisational requirements
- Analysing budget deviations and reporting these to management
- Using information gathered from costing systems to assist decision making
- Understanding VAT regulations
- Completing VAT returns accurately and on time
- Understanding VAT penalties and adjust for previous errors
- Communicating VAT information
- Understanding the principles of ethical working
- Understanding ethical behaviour when working with internal and external customers
- Understanding when and how to take appropriate action following suspected ethical codes breaches
- Understanding the ethical responsibility of finance professionals in promoting sustainability
- Using a spreadsheet to enter, edit and organise numerical and other data
- Selecting and using appropriate formulas and data analysis tools and techniques
- Presenting, formatting and publishing spreadsheet information
- Prepare forecasts of income and expenditure
- Prepare budgets
- Demonstrate how budgeting can improve organisational performance
- Report budgetary information to management in a clear and appropriate format
- The reporting frameworks and ethical principles that underpin financial reporting
- Key features of a published set of financial statements
- Statutory financial statements for a limited company
- Consolidated financial statements
- Interpret financial statements using ratio analysis
- The role and responsibilities of the accounting function within an organisation
- Internal control systems
- Evaluate an organisation’s accounting system and underpinning procedures
- Recommendations made to improve an organisation’s accounting system
- Complete tax returns for sole traders and partnerships and prepares supporting tax computations
- Complete tax returns for limited companies and prepare supporting tax computations
- Provide advice on the UK’s tax regime and its impact on sole traders, partnerships and limited companies
- Advise business clients on tax reliefs, and their responsibilities and their agent’s responsibilities in reporting taxation to HMRC
- Prepare tax computations for the sale of capital assets
- Analyse the theories, principles and rules that underpin taxation systems
- Calculate a UK taxpayer’s total income
- Calculate income tax and National Insurance (NI) contributions payable by a UK taxpayer
- Account for capital gains tax
- Discuss the basics of inheritance tax
- Understanding the principles of auditing
- Importance of professional ethics
- The audited entity’s system of internal control
- Audit procedures for obtaining audit evidence
- The planning process
- Audit procedures
- Use statistical techniques and financial information to prepare forecasts of cash receipts and payments
- Prepare cash budgets and monitor cash flows within the organisation
- The principles of cash management within the context of regulation and government monetary policies
- Ways of raising finance in accordance with organisational requirements
- Ways of investing surplus funds within organisational policies
- Analyse relevant legislation and contract law that has an impact on the credit-control environment
- Critically analyse information from a variety of sources to assess credit risk and grant credit in compliance with organisational policies and procedures
- Evaluate a range of techniques to collect debts
- Critically evaluate credit control in line with organisational policies and procedures
- Present advice and recommendations to management on the credit-control system
About Open Study College
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Established in 2007, Open Study College (OSC) is a distance learning course provider that has helped over 120,000 learners take the next step towards achieving their ambitions.
With over 700 courses, ranging from A Levels and GCSEs through to childcare and beauty therapy — there’s something for everyone. All of their qualifications are independently accredited by established awarding organisations, fully equipping you for the future.
Why choose Open Study College?
Whether you’re in full-time work or have family commitments, distance learning at OSC provides the flexibility to create a study schedule that fits around the busy demands of day-to-day life. Accomplish your goals — at your pace, on your terms.
You will also receive the best possible support from the uber-friendly learner services team, as well as guidance from expert tutors who are on hand to answer any queries you might have throughout the duration of your course.
What makes Open Study College different?
Born from a genuine passion to improve the lives of others through education, OSC is a family-run business with decades of experience in the education and distance learning industry.
Seeking a career change? Didn’t get the exam results you wanted? Looking to learn a new skill? Your learning journey has no end at Open Study College. Enrol on one of their courses today and forge the future you’ve always wanted — all from the comfort of your own home!
Additional benefits
As an Open Study College learner, your benefits will include an XO Student Discounts membership, exclusive savings on future courses and a complete range of career support — including a free CV critique service, a free employability guide, and job-hunting help from their recruitment experts.
