AAT Q2022 Level 1 | Bookkeeping | New AAT Qualification

AAT Q2022 Level 1 Award in Bookkeeping Qualification

AAT qualifications are recognised worldwide by employers as practical and technical competencies that prepare students to work in the role of accountancy and finance. Level 1 AAT bookkeeping qualification is best for those who do not have prior knowledge of the accountancy industry. If you take the first step on the ladder of an accountancy career, an AAT distance learning course is the best way to give you a professional advantage.

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About AAT

The AAT qualification is globally respected and internationally recognised. Organisations recruit AAT members for their knowledge, skills, and enthusiasm because AAT represents the highest standards of professionalism. In short, the AAT qualification is one of the most sought-after and provides our students and members with a professional status to be proud of.

AAT offers a set of bookkeeping skills, training students for many bookkeeping roles. Bookkeeping qualifications can promote associate bookkeeping membership where students will have professional recognition with designated letters AATQB.

Who should choose to study this qualification?

The Level 1 Award in Bookkeeping allows students to develop practical bookkeeping skills. This qualification may lead students to pursue further studies in accountancy or bookkeeping with AAT, pave the way for employment, or be of interest to those already employed.

This qualification will be especially suitable for students who have minimal work experience or need some extra support for development. This may include young students who want solid and financially specific skills, adults who are validating their existing skills to enter or advance their careers, or students who are with AAT if you want to test my abilities before making further progress. This qualification may also be of interest to people who are self-employed or work in small businesses and want to do their bookkeeping.

Why pick this qualification?

AAT offers a Level 1 Award in Bookkeeping and a Level 1 Award in Business Skills. These short qualifications are flexible, tailored to the different needs and requirements of the student and are valued by employers in various areas. Students should choose the Level 1 Award in Bookkeeping if they want to understand the basics of manual bookkeeping.

This qualification can be combined with a Level 1 Award in Business Skills to lay a solid foundation for further study with AAT in Accountancy or Bookkeeping. Students who complete this qualification want to pursue a career in finance or business in the private or public sectors. This qualification will usually take 12 weeks to complete but will depend on the study method and course timetable.

What does the qualification cover?

This qualification covers multiple skills and related knowledge in two basic units:

This qualification covers a fundamental unit - a range of skills in the basic principles of bookkeeping and relevant auxiliary knowledge. Students who complete this qualification will develop an understanding of the bookkeeper's role, including the need to act in a timely and accurate manner and to adhere to ethical principles. The course is assessed in a final qualification assessment.

Students will learn the basics of identifying assets, liabilities, income, expenses, profit or loss of capital, and the difference between trading cash and trading credit. Students will also develop skills in processing customer and supplier transactions, recording receipts and payments in cashbooks, and checking money against bank statements for bank reconciliation.

Students will be introduced to dual transactions. This is a basic concept for double entry bookkeeping, and it will help students studying bookkeeping at level 2. Students will also learn the role that can be played in software bookkeeping and the benefits and risks that different types of software can bring.

They will explore the differences between cloud and traditional accounting software and learn about the importance of software security and the steps that can be taken to keep data secure.

The course is assessed in a final assessment.

Students who complete this qualification will understand how organisations work in the public and private sectors. They will learn how to cooperate effectively in the workplace by working with others, managing their time, behaving professionally and maintaining data security. Students will also gain insight into how businesses handle sales and purchases and the documents and procedures used to transfer goods and services between companies.

Studying this qualification will also equip students with the basic numerical skills required in and outside work. These numerical skills are often used in business, from simple calculations to working with decimals, percentages and fractions and applying ratios and proportions. Students will also learn tools and techniques to enhance the presentation of numerical data.

What will this qualification lead to?

The skills that have been developed by studying this qualification will provide students with a solid foundation from which they can get a job with more confidence or enable them to advance to the next level of learning.

Skills gained in this qualification can lead to employment in assistant management roles in companies in various fields, for example:

Trainee bookkeeper

Accounts Administrator

Billing / Payments Manager / Coordinator

Accounts Jr.

Accounts receivable/payable assistant

Procurement and Finance Assistant

Assistant Cashier

The skills developed in this qualification can also give importance to those who are more advanced in the following level 2 qualifications:

Level 2 certificate in Bookkeeping

Level 2 Certificate in Accounting

Level 1 is not part of an apprenticeship.

Entry Requirements

Accountants work in the very centre of the business and are expected to be able to convey information clearly and accurately to a given audience. The AAT does not set any entry requirements for this qualification. However, to succeed, we recommend that students start their education with good quality English and Maths.

Exception

Exemption and recognition of Prior Learning (RPL) As this is only a final review of the qualification, AAT will not accept any waiver or RPL requests.

Availability of assessments

Unit reviews are available to be scheduled on-demand throughout the year, except as determined by the AAT and during the negotiation period.

Sitting the assessment

The assessments in this qualification are computer-based, with a time restriction. Students will be presented with various types and formats in the assessment. These may include multiple-choice questions or question tools that replicate workplace activities, such as making entries in a journal.

Normally tasks do not have to be completed in a specific order, and students are encouraged to proceed through them in the order in which they are presented. Students should familiarise themselves with the CBA environment, assessment platform software and some of the question styles that they might encounter in the exam by using the practice assessment materials provided by AAT.

Marking

The assessment is fully computer-based. Marking is done within the assessment software under an objective marking scheme.

Results

Computer Marked Assessment results are made available through MyAAT within 24 hours of the submission. Students will be advised on the marks they have obtained in their assessments.

Re-sits

Students should only be admitted for assessment when they are well prepared and expected to pass the assessment. When a student fails an assessment attempt, they should discuss their results with their tutor and review them appropriately before re-evaluating. This eligibility is not subject to re-seating restrictions.

Enquiries and appeals

If the student feels that the result of their assessment does not reflect their performance, they may submit an inquiry. Further information regarding this process can be found on the AAT's Dedicated Queries and Appeals webpage.

The AAT Result Enquiry Service involves testing all the procedures, checking that all parts of the assessment were marked, that the markings were fully corrected and that the marks were recorded correctly. Students can also request a review of the original marking to check that the Unified Marking Scheme has been applied correctly.

Syllabus

Introduction This unit will give students an understanding of why it is important to keep financial information accurate and up-to-date in the workplace. They will understand the key roles a bookkeeper performs, including data entry, checking bank statements, receivable accounts and payable accounts.

Students will learn basic principles on identifying assets, liabilities, income, expenses, capital and profit or loss. They will know the difference between trading cash and trading credit. Students will also develop skills in processing customer and supplier transactions, recording receipts and payments in cashbooks, and checking money against bank statements in preparation for bank reconciliation.

Students will be introduced to dual transactions. This basic concept for double entry book capping will help students studying bookkeeping at Level 2.

Learning outcomes

  • Understand the role of the bookkeeper.
  • Understand financial transactions.
  • Process customer and supplier transactions.
  • Process receipts and payments.
  • Understand the benefits and risks of using accounting software to complete bookkeeping tasks.

Duties and responsibilities of a bookkeeper

  • Record and check financial transactions.
  • Prepare and check financial documents.
  • Prepare information that is timely and accurate.
  • Develop information that managers/business owners can use to make decisions.
  • Ethical principles need to be followed.
  • Consult a supervisor or seek permission where appropriate.
  • Money laundering responsibilities.

Test specification for Bookkeeping Fundamentals unit assessment

There will not be a separate Qualification Technical Information (QTI) document for this assessment.

Assessment method Marking type Duration of assessment
Computer based assessment Computer marked 1 hour 30 minutes
Learning outcomes Weighting
Working in the business environment
1. Understand the role of the bookkeeper 17%
2. Understand financial transactions 10%
3. Process customer and supplier transactions 29%
4. Process receipts and payments 34%
5. Understand the benefits and risks of accounting software 10%
Total 100%

Fees

Training provider fee

£150 – £800

This fee covers your tuition (if attending a study course) and is paid directly to your training provider.

Standard Qualification fee

The standard eligibility fee includes:

£50 registration fee

Two Assessment fees of 49 each

It gives a total of £148.

The registration fee is paid directly to the AAT and will give you access to study support resources and assessment for up to 12 months or until you qualify, whichever comes first. Students must pay an assessment fee to your training provider or location.

Funding options

Employer Support

If you have a relevant job or already working in a relevant field and want to improve your education, your employer can fund your tuition fees. You need to talk to them to see if you are eligible and if they are willing to support the cost.

Payment plans

Bookkeeping includes AAT Level 2 certification with our interest-free payment plan. This allows you to expand the cost of your tuition for up to 12 months at no extra cost. You must spend a minimum of £500 to qualify for a payment plan.

FAQs

Q.1. What is Level 1 Bookkeeping?

Access (Level 1) Qualification is an entry point for students who need extra help to develop their financial or business skills. This qualification is designed to give students introductory knowledge and confidence so that they can achieve a high level of AAT qualification and advance in their life and career.

Q.2. What is the AAT Award?

Level 1 Study this qualification for basic accounting techniques and principles, understanding the business environment and how to prepare for the work world.

Q.3. What is Level 1 Accounting?

It builds on the new Level 1 accessibility, introducing units covering bookkeeping, payroll and computerised accounts to provide a comprehensive introduction for students.

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