At AAT Level 1, students are familiar with the workings of an accountants office. AAT Levels 1 and 2 are the basic foundation, however. This level gives an outline of the main subjects offered at the AAT, including accountancy terminology, basic law and corporate law. It also covers introductory topics such as tax, expense reporting, and company journals. Level 2 covers subjects in the same areas as level one, but further advanced topics are covered as well, including corporate finance, labor and industrial relations, risk management, and behavioural finance. The final subject, accounts receivable, is not covered in this level of training.
AAT Levels 3 and 4 combine aspects of each of the previous levels of training, covering topics in each area discussed previously, as well as other subjects that are deemed relevant by the test makers. At this level, a student is now ready for the third step of the AAT exam, known as the synoptic assessment. This involves using accounting software to create a Monte Carlo simulation of each hypothetical transaction. This simulation is compared to actual historical sales data to determine if the results derived are realistic or invalid. Students then receive a final grade, reflecting their performance on the synoptic assessment.
One of the most popular forms of accountancy used in modern business is computer based systems. While these systems cannot take the place of an accountant, they are often used as a supplementary method of accounting. The majority of accountants today use a computer based system, either through a company or on their own, to prepare their yearly financial reports. Because of this, many AAT Level II candidates will decide to take the course in order to upgrade their qualifications, by earning another entry-level AAT qualification. Many companies offer this kind of program as a way to retain existing employees who may already have a number of years of experience in a specific line of work This Site.
There are many ways to earn qualifications in business, and the methods can vary greatly from professional to professional. Many people choose to participate in a course offered by a local university, in order to gain one of several certificates that can be required to be successful in many types of jobs. At the end of a course, students will be expected to write a paper, complete some accounting modules, take a written board exam, complete a marketing skill test, and to successfully pass a final exam before obtaining their degree. At this level of accountancy, however, it is not uncommon for a candidate to receive both a certificate in his or her favorite area of expertise and one in bookkeeping, as well as a recommendation for further qualifications.
When a candidate has successfully completed his or her foundation years of accountancy, and earned his or her first aat level 2 certificate, he or she can look forward to choosing between further qualifications or specialties. Specializations are more specialized than basic accountancy, which means that there are fewer requirements on behalf of the applicant. For example, in this type of work, the duties performed will involve working with an extremely limited amount of information. For this reason, those working with this type of foundation will often focus on either the creation of financial records, the preparation of paperwork, or the maintenance of financial records. A number of these professionals will work exclusively with government agencies, while others work within the private sector as general accountants.
In order to get into one of the higher aat level 2 accounting roles, it is often necessary to obtain an official education. This will entail taking courses in public accounting, taxation, business law, and accounting principles. Courses that focus on financial management and statistics can also be useful, though they will usually only lead to a foundation certificate. At this time, it would also be helpful for an individual to look into internships that may be offered by schools or accounting associations. These will typically help to provide individuals with a chance to gain real world knowledge that can prove beneficial once they begin looking for entry-level roles in the field Get More Information.