“The apprenticeship standard for Accounts/Finance Assistant is at AAT Accounting Level 2, the current entrance level for an accounting AAT Level 2 apprenticeship. AQ2022 AAT Level 2 apprenticeship has many similarities to the Level 3 and Level 4 apprenticeships, but a few important changes have occurred”.
The AQ2022 AAT Accounting Level 2 apprenticeship, unlike Level 3 and 4, contains a mandatory certification. One of the credentials for use as part of the apprenticeship is the AAT accounting level 2 in Accounting.
The qualifying unit and synoptic assessment must be on top of the End Point Assessment (EPA) (using the AAT Foundation Certificate in Accounting qualification as the mandated qualification).
Key Takeaways
Introduction: This article highlights the training and benefits of an AAT Level 2 Apprenticeship Standard, designed to provide learners with the necessary skills and knowledge to work effectively in accounting roles.
Training:
- The apprenticeship is a combination of on-the-job training and classroom learning.
- The training is delivered by a qualified provider approved by the government.
- The training covers bookkeeping, computerized accounting, and basic costing.
Benefits:
- The apprenticeship offers a practical and hands-on approach to learning, which can enhance employability.
- The apprenticeship provides a solid foundation for further study in accounting, such as the AAT Level 3 qualification.
- Employers recognize the qualification across the UK, which can lead to better job opportunities.
How to Apply:
- To apply for an AAT Level 2 Apprenticeship, individuals must be 16 or over and not in full-time education.
- They must also have a contract of employment for at least 30 hours per week.
- Individuals can apply through the government's apprenticeship website or directly with a training provider.
Conclusion:
The AAT Level 2 Apprenticeship Standard provides learners the necessary skills and knowledge to work effectively in accounting roles. The training combines on-the-job and employers across the UK recognize classroom learning and the qualification. Applying for the apprenticeship is straightforward and can lead to better job opportunities and further study in accounting.
Understanding of AAT level 2 Apprenticeship Standard
The new AAT accounting level 2 AQ2022 preserve the important focus on laying solid foundations in key technical bookkeeping and accounting abilities at Level 2. These include double-entry accounting, suspense accounts, journals, trial balance, reconciliations, and costing.
The AQ2022 AAT Accounting Level 2 certificate curriculum has also expanded to include additional topics that are extremely relevant to today's commercial world.AAT Level 2 apprenticeship gives training, support, and development in various critical occupational skills and behaviors. At the same time, in AAT Level 2 apprenticeship, you'll learn the technical knowledge required for the AAT tests.
AQ2022 AAT Accounting Level 2 Certificate In Accounting Course Material
This part of the programme is offered at the college during the academic year, with various start dates. The studies included in the qualification are:
- Introduction to Bookkeeping (ITBK)
- Principles of Bookkeeping Control (POBC)
- Principle of Costing (PCTN)
- Business Environment (BESY) - Synoptic Assessment
What Goals Must Be Honoured For AQ2022 AAT Accounting Level 2?
General Business, Ethical Standards, Communication, Attention to Detail, and Professionalism are among the required Knowledge, Skills, and Behaviours that someone would need to display to be a successful Accounts/Finance Assistant, according to the Apprenticeship requirement. When it comes to End Point Assessment, apprentices must demonstrate competency in all areas listed in the standard.
In AQ2022 AAT accounting level 2, we will use Workshops, e-learning, workplace training, and 'on-the-job' experience to build skills and on-job behaviors.
- Contracts, data protection, and anti-money laundering are examples of commercial law issues that the Apprentice should be aware of when working in accountancy.
- The Apprentice is aware of its function within the organisation. Examining transactional accounting processes and their application within the finance function. The firm is successful, whether the purchase or sale of items or the provision of services to a market.
- Basic accounting concepts and AQ2022 AAT level 2 bookkeeping are familiar to the Apprentice.
Building A Portfolio Of Capabilities For AAT Level 2 apprenticeship
Future Connect's Impact Skills Programme (ISP) for the AAT Level 2 apprenticeship standard assists learners in developing a variety of critical employability skills that serve as a solid basis for a successful start in the financial industry
AAT level 2 Apprenticeship Functional Skills
- The Apprentice will assess data to detect problems, reconcile data to reduce the possibility of mistakes, plan and review work, and recognise and correct errors.
- Demonstrates the ability to present financial data in a way that non-finance employees can grasp.
- When interacting with internal and external customers, works both independently and as part of the team within the organisation’s standards; competently demonstrates a capacity to converse both in writing and verbally at all levels, using various tools and trying to demonstrate strong interpersonal skills and cultural understanding. The Apprentice can recognise which systems to utilise and which processes to follow to perform tasks.
- They can work with office and accounting software while maintaining the confidentiality of the financial data. Illustrates proficiency with office and accounting software.
- Demonstrates the ability to determine the proper methods and procedures to execute the needed tasks productively. Using passwords and backup strategies, be able to keep accounting information secure.
- Applies approaches to routine and non-routine issues, analysing as needed and selecting the best tools and strategies to solve challenges. When necessary, escalate or seek guidance and help.
AAT level 2 Apprenticeship Behavior
- In a dynamic environment, the Apprentice must adapt to change and maintain high standards.
- When appropriate, identify chances to participate in the larger business actively. While always attempting to enhance personal and the organisation’s working processes, it provides knowledge that favourably influences business choices.
- Takes charge of one's personal growth. Takes responsibility for proactively completing work and meeting deadlines. Prioritises consistently to attain timely results.
- All of the Apprentice's acts and interactions are visible and objective. They ensure that they adhere to the profession's ethical standards.
- The Apprentice is responsible for their personal growth as well as their work. They make sure that having things done on schedule is a top priority.
- The Apprentice is well-organized and adheres to deadlines. They maintain a professional demeanour at all times and seek assistance or guidance when necessary.
- The Apprentice is constantly supportive of their peers and collaborates with them to attain goals. They understand their place in the team and how their actions affect others.
Required Knowledge For AQ2022 AAT Accounting Level 2
Accounting and Reporting of Financial Information
Understands the fundamentals of AAT level 2 bookkeeping and accounting standards, which are necessary to process financial records and provide financial data to account users. Understands current financial requirements for basic account preparation so that may appropriate end-of-year modifications. Understand the steps involved in preparing final accounting. Understands how to account for non-current asset purchases and sales. Understands fundamental tax concepts to compute VAT and file a VAT return following current legislation.
AAT level 2 Apprenticeship IT Processes And Systems
The role's responsibilities, such as Sales, Purchase, and Payroll, understand the organisation’s systems and processes. Understand how to use a computerised accounting system to record accounting transactions, reconcile accounts, repair mistakes, and generate reports. Understand how to utilise the necessary office and accounting software in their organisation and apply them in their professional function.
Business Intelligence
Understands the transactional procedures and assistance given by accounting companies or an organisation’s accounting department. To create relevant and compliant financial information, understands their organisation’s business plan, including customer and supplier demands. Is aware of how their function relates to the larger organisation and sector in which they operate.
Accounting for Management
Understands and can use various accounting methodologies and acquire, analyse, and report data on revenue and spending to aid decision-making, planning, and control.
End of Project Evaluation (EPA)
There will be two sections to the EPA for this apprenticeship.
The discussion will take 60 minutes and focus on the Apprentice's portfolio created throughout the on-the-job learning portion of their apprenticeship.
- A systematic interview with a summary of portfolio evidence to back it up. The AAT Smart End Point Assessment (SEPA) technology will use to conduct this interview remotely.
- The test will be computer-based and will take 105 minutes, including 15 minutes for the Apprentice to study the information presented at the start. The exam will consist of questions and data assessments that will cover the knowledge and abilities relevant to the assessment method within the grading criteria.
AAT level 2 apprenticeship Funding
The Accounts/Finance Assistant apprenticeship is underfunding band 8, with a maximum funding amount of £6,000 available.
The employer will administer and manage the apprenticeship funding, which will be spent with the chosen training providers.
This amount of money provides up a lot of possibilities for further training to supplement the Apprentice's on-the-job learning.
Recruitment
The AAT Accounting Level 2 Finance/Accounts can use assistant apprenticeship for a range of business-related positions, such as administrators and data entry clerks. Many people regard the curriculum as a replacement for AQ2022 AAT Accounting Level 2 business and administrative qualifications. It paves the way for administrators to go effortlessly into finance as time goes on. Also, another talent development strategy is to engage many sorts of individuals and attract potential at a younger age.
What are the options for delivery?
Future Connect shows how the AQ2022 AAT accounting courses in Accounting fit into the On-Program Learning requirements for this Level 2 apprenticeship.
The Accounts/Finance Assistant apprenticeship is anticipated to last 12–14 months. However, this is merely a guideline; you can extend it if you think it's necessary. It allows you to include additional short AQ2022 AAT courses to ensure the Apprentice has a strong foundation in the fundamental skills required.
What has happened to apprentices who have finished this programme in the past?
Opportunities for advancement include:
- A well-defined and upward-moving professional path
- Accreditation for professionals
- Promotion to accountancy specialisations
- Apprenticeship study continues
How will you learn?
AAT Foundation Certificate in Accounting (Level 2) (Knowledge component)
The curriculum is divided into modules, each utilising various delivery methods such as lectures, case studies, and conversations.
1-on-1 assessment and help demonstrate the behaviour, skill, and knowledge aspects that will occur at your workplace at mutually suitable times and dates with your assessor.
What kinds of AAT jobs are available?
Accounts Assistant
Assist Accountants with a variety of day-to-day financial processes by providing administrative support. It might include everything from data collection to payment processing to invoice reconciliation and expenditure tracking.
Bookkeeper
Maintain accurate financial records to keep track of and monitor corporate expenditures. A Bookkeeper's responsibility is to guarantee that an organisation’s outgoings and incomings are tracked correctly, whether they're filing tax returns, controlling profit and loss, or monitoring debt levels.
Payroll Manager
Payroll managers are to be in the authority of the payroll department. They provide training and supervision to guarantee that the law is followed. They serve as a liaison between finance and HR, resolving any payroll concerns that employees may have.
Finance Analyst
Banks, pension funds, insurance firms, and other enterprises employ financial analysts. They provide investment advice to corporations and individuals.
Tax Manager
They design, execute and monitor tax strategies for their customers, who might be corporations or individuals. Their major purpose is to ensure that clients' tax reporting is correct and compliant.
Get in touch with Future Connect.
Individuals can benefit from Future Connect's advice on the best approach and entry point. If you have any questions about Level 2 or apprentices, please get in touch with us.
Conclusion:
AAT might be an excellent choice if you want to work for yourself. You'll have all the skills you need to start your bookkeeping firm if you master the principles of accountancy with an industry-recognized degree. According to a 2019 AAT compensation study, 92 per cent of AAT Licensed Accountants who are solely self-employed are very or 'very happy.
FAQs
Q.1. What can you accomplish with an AAT Level 2 qualification?
It is a Level 2 certificate covering many accounting topics, including double-entry bookkeeping and costing.
Q.2. Is AAT Accounting Level 2 basic education?
Regarding the AAT level 2, people are now studying it while working as accounts assistants. Level 2 is quite straightforward, and self-studying will save you time and money.
Q.3. What level of apprenticeship is AAT?
AAT Level 2 apprenticeship, The Assistant Accountant apprenticeship standard is at Level 2. It is an excellent intermediate accounting apprenticeship for someone who has completed a Level 2 or similar qualification and has previous accounting experience.
Q.4. What is the meaning of AAT Level 2 Apprenticeship?
AAT Level 2 apprenticeship allows you to earn money while learning the field. It's also an opportunity to gain new skills on the job.
Q.5. Is it worthwhile to study AQ2022 AAT Accounting Level 2?
AAT training is a wise investment. Even if you do not want to go further in a career in accounting, having AAT certifications on your resume will provide you with a significant competitive edge in the workplace. On the other hand, AAT courses are a great place to start before going to university to pursue a finance-related degree.