The AAT Professional Diploma Level 4 in Accounting is the final and most advanced level of AAT course in accountancy, allowing you to apply to become an AAT Licensed Accountant and open your practice.
The AAT Professional Diploma in Accounting and other professional courses, like company tax, personal tax, external auditing, credit management, and cash management. Moreover, it covers all aspects of drafting financial statements, managing budgets, and analyzing financial performance.
Content for level 4 AAT course
AAT level 4 consists of six units, which are necessary and optional. To finish the Professional Diploma in Accounting, you must select two of the five optional units (level 4).
Before going further on to the next chapter, you will learn each one at a time and complete an evaluation after each one. To obtain your Level 4 AAT certification, you must take and pass all six tests.
Following are Compulsory units.
Budgeting- management accounting
- It builds on the previous levels' management accounting expertise (elements of costing at level 2 and management accounting: costing at level 3).
- It will also broaden your understanding of price.
- Teach you how to deal with budgets and comprehend and calculate various variances, ratios, and implications for the organisation.
- It is an excellent unit to begin level 4.
Decision-making and control- management accounting
- Budgeting is built on what you learned in management accounting.
- The written questions in this lesson will demand you to demonstrate your understanding of what variances and ratios represent.
- You must demonstrate strong short- and long-term decision-making abilities and the ability to acquire essential information using a variety of key performance indicators.
- It is a large unit, so don't dismiss it, but the information you'll get from it will be beneficial.
Financial statement
- The last section of the accounting system.
- Enhances your knowledge of accounting units from levels 2 and 3.
- It will show you how to make financial statement modifications in the most basic way possible.
- You'll learn about worldwide accounting standards and how to deal with statements according to particular guidelines.
- This section will also show you how to deal with group accounts when corporations purchase a stake in another company.
- Allow plenty of time to master everything in this unit at level 4, as it is one of the largest.
Synoptic on a professional level
- You will learn about accounting systems and controls in this course.You will be given information about a corporation and asked to break it down financially. Investigate the present systems, determine what needs improvement, and provide solutions by implementing controls depending on various situations.
- It'll take a lot of time and practise to become used to answering these sorts of questions because it's a highly wordy lesson.
- This test is distinct in that it will feature questions from all three modules (management accounting: budgeting, decision and control, financial statements). As a result, this will assess whether you have retained the information from the previous three units.
Following are optional units.
Personal Tax
Personal Tax is a popular topic among FI instructors. Even though it is not my personal favourite, the utility of this item cannot be overstated. Even if you finish your studies and realise that accountancy isn't for you and instead become a flower arrangement, it will still be useful. The individual tax unit is responsible for all employment-related income, including in-kind perks such as corporate automobiles. Pensions, rental income, tax planning, and national insurance are all covered; these are real-world issues.
Business taxes
This item is functionally divided into two parts: corporation tax computation for limited firms and taxable earnings calculation for sole traders and partnerships. It is extremely relevant to personal taxation. So, in this section, you'll figure out how much a solo trader makes. Then you'll compute the Tax owing on this income in personal Tax. Although it is a huge entity, there are several cross-overs from personal Tax. So, if you start with personal Tax, you'll already be familiar with share pools and some of the capital gains themes.
External auditing
This entire section is dedicated to ensuring that a client's accounts are correct and free of severe problems (accidental or intentional). You'll consider how to organise an audit and the requirements based on what you know about the customer. You'll also consider what checks you might run to ensure that the numbers in the accounts are accurate. Any money the customer believes is owed to them, for example, is correct and authentic. Finally, determining whether or not the charges are correct.
Credit Control
It isn't just a class about getting money from individuals who owe you money. As you may think, there is a lot of information about this. There's also a lot of information on avoiding having to chase people down for money. Those already familiar with credit control are probably aware of the age-old rivalry between the accountant and the salesperson! The credit score and ratio analysis of potential clients are also covered in this course. It is highly theoretical since it contains a lot of legislation.
How is it evaluated?
Students must complete six computer-based tests to receive this certification. We will assist you in passing your exams by providing progressive tests that run throughout the course and sample solutions for the examinations.
Self-assessment: The cost of the course does not include the assessment costs.
All students are required to join the AAT as student members. Enrol as a student member within 14 days of the commencement of your course to have access to additional content and take your exam. Future Connect may provide AAT Membership for an extra fee.
You have two options for completing your assessments:
- Online: To schedule and pay for your evaluation from the convenience of your own home, please get in touch with our Customer Service.
- At a Test Center: You can still take your test at an AAT-approved assessment location.
Student Assistance
It's extremely adaptable: live online classes are available during lunchtimes, nights, and weekends, making it simple to fit learning into your schedule. They're also recorded, so you may watch and rewatch them as many times as you like.
In addition, a certified AAT tutor and our great student support team are available to provide ongoing assistance.
Accreditation
The AAT, the UK's leading professional association for accounting technicians, has accredited the program. AAT qualifications are the best standard in practical accountancy, with over 70,000 persons trained each year and account qualifications accounting for more than 90% of vocational accounting qualifications.
Advantages of AAT course
AAT courses 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-recognised degree.
Studying also has the following advantages:
- You'll learn transferable abilities that you may use in any industry.
- You could work in another country with your globally recognised credentials.
- With more study, you could be able to become a Chartered Accountant.
- Whether it's Tax, audit, or credit management, you may become an expert in your chosen industry.
Level 4 AAT jobs
Obtaining AAT certification is one of the most effective strategies to advance your profession. As you go through the levels, you’ll gain in-demand skills that will help you prepare for a satisfying career in various accounting, bookkeeping, and finance professions.
The world is perfect if you have an AAT certification. Whether sports or fashion are your passions, AAT qualification allows you to work in any business across the globe. You'll have the ability to pick the professional path that best suits you because there are so many options.
Manager of Payroll
Ascertain that all payroll account transactions are paid on time and in full. It is accomplished by developing effective payroll systems, maintaining correct data, and collaborating with other members of the company. They're also in charge of supervising and coaching a payroll team.
You need to do AAT Foundation Certificate, Advanced & Professional Diploma in Accounting or AAT Professional Diploma in Accounting Level 4 (Levels 2,3 & 4).
Expected salary: £37,000.
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.
You need to do AAT Level 2 Foundation Certificate & Level 3 Advanced Certificate in Bookkeeping or AAT Level 2 Foundation Certificate & Level 3 Advanced Certificate in Bookkeeping.
Expected salary: £24,000.
Assistant in Accounting
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.
You need to do AAT Foundation & Advanced in Accounting Levels 2 & 3 or AAT professional Diploma in Accounting Level 4.
Expected salary: £20,000.
Finance Analysts
Finance Analysts evaluate the performance of stocks, bonds, and investments to provide financial advice to businesses and people. Banks, pension funds, and insurance organisations often employ finance analysts. Problem-solving, critical thinking, analytical, communication, and IT abilities are essential.
AAT Professional Diploma in Accounting is required (Level 4).
Average annual salary: £39,000
Manager of Taxation
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.
£57,000 is the average pay.
Other jobs after AAT level 4
With the AAT Professional Diploma Level 4 in Accounting, you will be able to:
- Supervisor of Accounts Payable and Expenses
- Financial Accountant's Assistant
- Accountant for Fixed Assets
- Manager of Indirect Taxation
- Manager of Payments and Billing
- Manager of Payroll
- Senior Accountant
- Senior Accountant for a Fund
- Supervisor of Taxes
- Accountant for VAT
Conclusion
This professional-level AAT course delves into more sophisticated and advanced financial issues and processes. Students will create and portray detailed management accounting reports, design financial statements for limited firms, and suggest accounting system strategies.
Before enrolling in The Professional Diploma in Accounting, you should already have the AAT Level 3 Advanced Diploma in Accounting (or be close to completing it). This rule has certain exceptions, particularly if you have just finished a British or Irish accounting or finance degree.
FAQs
Q.1. Is AAT Level 4 a good certification?
Budgeting, managerial accounting, financial statement preparation, accounting systems, and Tax will all be covered. This level may be completed in 12 to 18 months by most persons. Professional is only available to those who have completed the Advanced level.
Q.2. What does an AAT qualified earn?
The average pay for students pursuing an AAT qualification is £22,000. Full members with MAAT rank who have completed the AAT Professional Diploma can earn up to £30,000.
Q.3. Is AAT Level 4 difficult?
The AAT Accounting Qualification Level 4 is the most difficult. The nice thing about AAT is that it is entirely centred on practical learning, which means that even if you have no previous experience, you may still excel if you put in the time and effort.
Q.4. Is AAT a better option than a bachelor's degree?
AAT is a fantastic alternative to traditional higher education. In this post, we'll compare the professional benefits of an AAT diploma to those of a university degree.