It is critical to understand the applicant's existing job before deciding which accounting qualification to pursue. It is highly dependent on the individual's present academic standing and ultimate objective. Both certifications will be useful in your future profession.
The AAT qualification is an entry-level qualification designed to help students gain a head start in learning to account. It may be studied from the age of 16 and is an introductory qualification for young school leavers and a crucial tool for those joining the profession later in life as part of a career move. It leads to the position of accounting technician.
The accounting ACCA qualification provides proper professional rank and can be pursued after leaving school, provided certain basic requirements are satisfied or an open entrance at mature entry.
How are AAT courses different from other accounting courses?
What are AAT courses?
To provide some context, the AAT (Association of Accounting Technicians) is the UK's foremost professional organisation providing skills-based accountancy and financial certifications.
They have almost 150,000 members from 100 countries, spanning every level of finance, from undergraduates to senior accounting professionals.
AAT qualification is internationally recognised and highly sought after by companies because they give the necessary skill and knowledge for a successful career in accounting and finance
AAT offers a wide range of AAT courses to choose from, including:
- Accounting Foundation Certificate (AAT Level 2)
- Accounting Advanced Diploma (AAT Level 3)
- Accounting Professional Diploma (AAT Level 4)
They also provide bookkeeping certifications for those who want to learn this profession, such as:
- Bookkeeping Foundation Certificate (Level 2)
- Advanced Bookkeeping Certificate (Level 3)
AAT bookkeeping level 2
Except for being over 19, there are no official admission criteria for this Level 2 certification. It's ideal for people with no prior expertise in accounting or finance since it teaches you the fundamentals of AAT bookkeeping, costing, and accounting software.
Throughout the aat courses, you will study five units and take five examinations, all of which will be taken in person at an AAT-approved exam centre. After completing these AAT courses, you will be prepared to apply for entry-level positions such as Accounts Assistant, Accounts Administrator, or Accounts Payable Clerk.
AAT Advanced Accounting Diploma
Because this is a more advanced course, you must be over 19 and have either completed the Foundation Certificate or have extensive practical experience in accountancy with a firm grasp of double-entry bookkeeping to join. You'll study five lessons that address more sophisticated accounting techniques, such as level 2 bookkeeping, final accounts, and accountant ethics.
To pass the course, you must pass five computer-based tests, all of which must be taken in person at an AAT exam centre. This Level 3 course is ideal for people already working in accounting and who want to further their career since it will prepare you for mid-level professions such as payroll supervisor and assistant accountant.
AAT Accounting Professional Diploma
Few individuals begin with the Professional Diploma since you must be familiar with everything covered by the Foundation Certificate and the Advanced Diploma to enrol.
You will take four basic modules as well as two optional aat courses. These will allow you to gain experience with advanced accounting techniques such as producing financial statements, managing budgets, and analysing financial performance.
To pass the course, you'll need to sit tests, much like the previous two AAT levels. There are six, and one must take them in person at an approved AAT centre. Along with becoming an AAT affiliate member, you will have the skills and expertise to advance your career after you finish this course. It might look like this:
- Taking on a senior accounting position, such as that of Senior Finance Officer or Senior Fund Accountant
- Starting your own accounting business
- Enrolling in an accelerated programme to become a Chartered Accountant
How long does it take to get AAT certified?
Because the aat courses are self-paced, you will be mostly responsible for this. As a general rule, each level should take between six months and a year to complete. With Future Connect's OnDemand service, you'll even be able to access the course at times that are convenient for you—using tutor-led videos that you can fit into your schedule.
What is the ACCA qualification?
ACCA is a worldwide recognised accounting association in more than 52 countries and has over 208,000 certified members.
The ACCA qualification prepares students to become competent accounting professionals with a thorough knowledge of modern accounting practices, standards, and tools. Professionals with an ACCA qualification are known all over the world, which makes it easier for them to work for top accounting firms and other companies.
The ACCA course consists of 14 papers divided into four groups and three levels. Students that enrol in the ACCA course will learn about the following topics:
The ACCA Knowledge Level is the introductory level for ACCA, and it is academically equivalent to AAT Level 4. Three papers explain the basics of accounting and lay out the information needed to study further at higher levels. These examinations are available on demand.
The ACCA Skills Level builds on the basic level. It has six papers that cover the most important things a professional accountant needs to know, like accounting, taxes, laws, auditing, and financial accounting. These are taken in one of four sittings scattered over the year, with a student normally taking one paper in The first paper of the Professional Level is the ACCA Essentials Level. It covers the most important parts of strategy and corporate reporting.
The first paper of the Professional Level is the ACCA Essentials Level. It covers the most important parts of strategy and corporate reporting. This level of test calls for a more in-depth answer that includes analysis and evaluation. The tests, once again, are taken in one of four sittings every year.
What distinguishes AAT courses from ACCA?
AAT is a lower-level qualification that helps students get ready for careers in accounting. It means that during the aat courses, you will learn the details you need to do accounting tasks like keeping books, making financial statements, handling taxes, and more. That is why organisations are frequently eager to hire AAT students since the skills they gain are connected to the firm's demands.
The ACCA is a professional accounting qualification that leads to full professional status as a Chartered Certified Accountant. Furthermore, the AAT tests place a premium on Performing relatively basic transactions successfully. As a result, the tests cover a higher academic level than the AAT.
If you have the right qualifications, you can start studying ACCA as soon as you finish high school. It is also extremely common to start the ACCA qualification after graduating from university. If your degree is related to the skills needed for accounting, you won't be able to take part in some of the papers. The ACCA is widely regarded as one of the world's most popular accounting credentials.
What is CIMA?
CIMA, like ACCA, is considered a more advanced qualification. However, you may begin studying without prior experience. The main difference is that CIMA focuses more on management and leadership skills that cover both business and finance. There is also a strong need for organisations to add value.
Subjects and admission requirements: Certificate in Business Accounting- You need solid math and English abilities. You'll master the fundamentals of business economics, management accounting, and other topics. Ideally, a GCSE grade of C/4 or higher is required to apply for this course.
Professional Operational: To start here, you must have completed the Certificate, AAT Level 4, or have a related degree. Throughout this level, you will gain confidence in cost management and analysis.
Professional Management: To begin, you must have completed Professional Operational or have the necessary exemptions. By the time you're done with this level, you'll know more about performance management and advanced financial reporting. You'll also learn about the administration of other corporate operations, such as human resources.
Professional Strategic-Strategic: You must have completed the Professional Management level or have the necessary exemptions to be considered for this position. At this stage, you will learn about strategies, how to handle risks, and how an organization's finances work. It is vital and I would like to highlight that to be properly qualified, you must also have professional real-world experience.
Advantages of AAT Courses
A qualification in accounting is important for people who want to become accountants because it gives them the knowledge they need to do well in the field. Here are some of the advantages of opting for aat courses:
Opportunities to work globally: Being a member of an accounting body opens up opportunities to work all over the globe. Accounting qualifications are typically linked to companies all around the world.
It hopes to accomplish the following goals by selling memberships to accountants:
- Establish AAT as a must-have for individuals, corporations, and organisations.
- Offer high-grade credentials that represent the abilities needed to work in accountancy and related industries;
- encourage the skills of students and members and promote knowledge about AAT;
- Provide persons participating in AAT with the necessary assistance, information, and resources.
- Provide aat courses training and professional development to assist students and members in reaching their full potential.
Preferable AAT Courses?
Even though both AAT and ACCA are well-respected and can offer you flexibility, access, and help, let's say you want to study on your own time and at your own pace. In that case, the essential feature to memorise when comparing them is that the aat These These are aat courses that are ideal for you to get down to your ambitions for your rapidly growing finance career.
Suppose you're beginning with no experience. If so, AAT courses might be the best choice for you because they can help you build a strong foundation for your financial knowledge and skills. You will not become a Chartered Accountant, but you will be able to work in a wide range of financial positions, including:
- Officer of Finance
- Accountant for a Senior Fund
- Analyst, Commercial
- Accountant (Cost)
- Accountant for Fixed Assets
- Manager of Indirect Taxation
- Manager of Payments and Billing
- Payroll Supervisor
- Senior Accountant
On the other hand, maybe an ACCA qualification is a better alternative if you already have some accounting experience or want to study for a more advanced certification to become a Chartered Accountant. ACCA offers to provide entry-level degrees independent of previous qualifications or job experience. Also keep in mind that the amount of information in their classes usually means that they need more time to study.
Many students start their accounting careers by taking AAT courses.
However, if you want to progress into senior management or become a chartered accountant, you'll almost certainly need to have a higher, more professional level of education, such as ACCA. To sum up, you can't go wrong if you choose to take AAT courses or get an ACCA certificate. It all boils down to where you see yourself going in your career.
FAQs:
Q.1. Are AAT courses equivalent to CIMA?
You are free from the CIMA Certificate in Business Accounting if you have achieved the AAT Professional Diploma in Accounting and can immediately begin the CIMA Professional Qualification. You may still study for CIMA if you have an AAT Level 2 certificate or a Level 3 diploma.
Q.2. Is ACCA or CIMA more difficult?
The CIMA certificate is more difficult to obtain since it does not enable you to advance until you pass one set of tests instead of the ACCA, which allows you to prepare for many stages of exams simultaneously.
Q.3. Should I pursue CIMA or ACCA?
A CIMA certification is a specialised management accounting qualification, making it the ideal accountancy qualification for people working in business and management. The ACCA qualification, on the other hand, is wider and provides a little more freedom.
Q.4. Are AAT courses more valuable than a degree?
If you've recently finished your A-levels, wish to change careers, or advance in your accounting job, AAT is a great alternative to further education. This post will explore the employment advantages that an AAT certificate may provide over a university degree.