What is an AAT qualification and its importance?
The AAT is one of the UK's primary qualification and membership associations for vocational accountants. AAT has around 125,000 members in over 90 countries and operates on a global scale.
AAT was developed in 1980 and is supported by Chartered Accountancy groups such as ICAEW, CIMA, CIPFA, and ICAS and works with ACCA to provide students with exemptions.
What AAT qualifications are available?
AAT offers a wide range of accounting courses to choose from, including:
- Accounting Foundation Certificate (Level 2)
- Accounting Advanced Diploma (Level 3)
- Accounting Professional Diploma (Level 4)
What do AAT qualifications equivalent to?
On the Qualifications and Credit Framework, each AAT qualification has an equivalent, for example:
Accounting Foundation Certificate (AAT)
This AAT Level 2 certificate corresponds to GCSE level studies.
AAT Advanced Accounting Diploma
It is a Level 3 certification, the equivalent of an A-Level.
AAT Accounting Professional Diploma
This Level 4 certification is the equivalent of an HNC or the first year of a university degree.
What are the various AAT courses?
AAT certification is divided into four levels. These vary from the basic AAT Access Level 1 course to the advanced Level 4 diploma.
Here's a basic breakdown of the various AAT courses:
AAT Access (Level 1) — Provides a basic introduction to accounting and financial concepts. A brief course that serves as the initial step toward becoming an AAT member. Once you have obtained the AAT Access qualification, you will apply for various accounting positions. There are no prerequisites, although candidates must be at least 16 years old.
AAT Level 2
This course covers fundamental accounting skills and principles, including the double-entry system, trial balances, and credit policies. It is not necessary to have finished Level 1 before attempting this certificate.
AAT Level 3
The intermediate stage of AAT, Level 3 builds on the theory learned in the previous step but focuses more on practical accounting duties, such as formal report creation. After completing the course, you will be granted the AAT Diploma in Accounting.
AAT Level 4
The final and most sophisticated level of AAT Level 4 teaches critical skills such as budget planning, financial performance monitoring, and financial statement composition. Once finished, you will instantly become an AAT affiliate member, demonstrating your advanced accounting skills.
What are the employment options with AAT?
AAT is an excellent initial step on your path to becoming a qualified accountant. After completing the AAT courses, you will be eligible to apply for a variety of career options, including:
Level 2 AAT
- Clerk for accounts payable
- Officer of accounts
- Payroll supervisor
Level 3 AAT
- Officer of Finance
- Accountant Assistant
- Bookkeeper
Level 4 AAT
- Manager of accounts
- Analyst for business
- Accountant for money
Changes to the AAT qualification
The new AAT Qualifications 2022 strike an excellent mix between preserving the AAT's strong technical foundation, which employers value, and bringing more business awareness and commercial focus. Assuring that trainees are well-prepared for productive positions in an ever-changing corporate environment.
It will also provide better preparation for students wishing to pursue additional credentials and level 7 apprenticeship programmes. On the other hand, employers may be forced to recognise that some students will benefit from starting at a lower level than would be permitted under AQ2016. As a result, they may take longer to complete their AAT qualification or other accountancy training courses.
Important dates to remember:
- 31st January 2022 - Deadline for AQ2016 registration
- February 1st 2022 — From this day on, all registrations will be for Qualifications2022
- June 30th 2023 - Last date for AQ2016 evaluation
What are the necessary modifications for AAT course modules?
The following are the primary distinctions between AQ2016 and Qualifications2022:
- The elimination of syllabus material duplication between levels
- Material has been updated to match current accounting situations and duties better.
- There are fewer assessments as part of the certification at all levels.
- The only synoptic assessment part of the qualification is at level 2 (although apprentices will need to sit an additional synoptic test as part of their EPAs at levels 3 and 4).
- Papers to be removed: Level 2 – Accounting Software Levels 3/ 4 – Synoptic Assessment
- Some documents have been added: The Business Environment (Level 2), Business Awareness (Level 3)
- Combination of certain papers: Final Accounting has replaced Level 3 – Advanced Bookkeeping and Final Accounts Preparation. Advanced Management Accounting combines Level 4 – Budgeting and Decision & Control.
- Technology, communication, ethics, and sustainability are four new 'themes' that will be addressed at all levels.
- The whole AAT qualification will be completed 'on-programme for apprenticeships (before gateway) EPA – will not meet the requirements for levels 3 and 4.
- A new in-tray job is the Level 2 synoptic. Levels 3 and 4 will continue to use the present synoptic.
- L2 and L3 guided learning hours rose, whereas L4 recommended learning hours decreased.
What are the consequences of these changes?
Points of Entry:
you will reduce The redundancy of material taught at more than one level to aid in the obvious proficiency development. As learners grow, they will be able to build on their prior knowledge. It will make it more difficult for fast-tracked students, as they may lack fundamental learning and abilities in areas offered at a lower level.
Fast track techniques must thus be carefully assessed, as well as the student's previous academic record. If a student is fast-tracked, their previous experience and whether or not they are a successful student will be more vital in ensuring they do not suffer.
The 'COVID generation' of students in the 2021 and 2022 admissions are anticipated to compound the situation. As a result of fewer part-time work chances and diminished in-person class engagement, these students would have suffered from disconnected learning, less test experience, and inferior interpersonal skills.
These students will most likely require additional assistance and attention, and they may be better suited to begin AAT at Level 2. As a result, a student without accounting experience will likely take longer to earn their AAT certificate.
The slide below provides an overview of access points for various students. This PDF includes further information on learner path possibilities.
Themes:
Technology, communication, sustainability, and ethics will now be the four major themes across all AAT levels. As they advance through the qualification, students will build on their prior knowledge. Level 2 introduces a concept, Level 3 expands on it, and Level 4 puts it into action. Students will find it simpler to go to higher levels if they have a deeper knowledge of the fundamental procedures.
These themes and the Qualifications2022 curriculum as a whole will better represent contemporary industrial situations and real-world accounting responsibilities, in addition to being extremely valuable for students transitioning to more advanced credentials.
As a result, the Level 2 Using Accounting Software and Level 3 Synoptic Assessment have been deleted from the syllabus. It is because accounting software and technology are becoming more tailored to particular businesses. However, pupils will still need to understand how to use digital and computer technologies.
The presentation contains additional information on improvements to each level and a deeper look at implementing the new themes.
The transition of qualification:
Students who enrol in the AAT courses before February 1st, 2022 and cannot complete Level 4 by February 28th, 2023, will be required to convert from AQ2016 to Qualifications2022. Depending on where they are in their studies, some students may require additional assistance to address knowledge gaps between certifications.
Future Connect will advise the best time to transfer and provide tailored materials to fill any knowledge gaps.
Students who have received distinction level grades will be eligible to transfer their scores for certain subjects. However, they will lose 30% of their status for that unit as a result of this. As a result, it must be assumed that some students will desire to retake the team to improve their marks.
Future Connect will ensure that students in this position are evaluated on an individual basis. As a result, each student is on the ideal path. FC training will also provide students with specialised sessions to bridge the knowledge gap for transition individuals.
Employers must determine the best path for their pupils to guarantee that the transition to Qualifications2022 has the least impact on them. Employers must consider when to admit new students to ensure that they are not scattered between two curricula.
Employers who normally start students in January 2022 should start them in February 2022 to guarantee that they all begin on the AAT training courses syllabus.
Apprenticeships for AAT :
The recently authorised Level 2 apprenticeship standard will make apprenticeships more desirable to companies. It is because many students are likely to take longer to obtain the AAT certificate.
The added assistance, both financial and focused on additional communication skills for apprentices, will certainly lead to more companies choosing Level 2 apprenticeships to support AAT training under Qualifications2022.
What is the significance of this modification?
Many companies are currently recruiting for their next intake of AAT students from high schools and colleges. Candidates who begin their AAT studies at the end of 2021 or the beginning of 2022 will be required to take Qualifications tests throughout their studies.
It is because there will not be enough time to complete the entire qualifying under AQ2016. In 2021 will have enough time to finish their first level in AQ2016, but not their whole AAT certificate.
Students enrolled in AQ2016 will have until February 28th, 2023, to earn their AAT certification within the present syllabus. Those who have not completed the qualification by this date must complete the remaining units on the Qualifications2022 syllabus. If they do not prepare for the shift effectively, they may have to conduct more research to fill the knowledge gap.
It is something that companies should think about in their present hiring procedure. Students employed later in 2021, particularly fast-tracked ones, risk lacking expected expertise when they advance to higher ranks. Students are also searching for other accountancy courses in Uk apart from AAT courses.
Similarly, children being recruited now are likely to have suffered from the negative effects of COVID on their education. That is, they may require a more gradual transition into the job. As a result, they will probably take longer to finish their AAT certifications.
Conclusion:
Employers must examine individual candidates' academic achievements more than ever before when determining whether to start them on Level 2 or Level 3. Recruitment may also need to be more accommodating to kids from the 'COVID generation.' Offering additional assistance at the start and anticipating later qualifying dates.
If you're looking for a career in accounting or finance, obtaining an AAT Qualification will not only impress potential employers but will also open doors to your ideal job in finance. Future Connect's AAT courses and other accountancy training courses will help you understand all of the prerequisites needed to enter the workforce and begin creating accounting reports and spreadsheets.
FAQs
Q.1. How long do AAT credentials last?
Some of our accounting courses lead to certification as an AAT professional member. We offer five accounting training programmes that range in length from six to 18 months.
Q.2. What comes after AAT?
After completing the AAT Professional Diploma (level 4), you will be eligible to pursue the full ACCA certification and become a chartered accountant. Still, you will also be able to request various test exemptions.
Q.3. Is the AAT qualification valid forever?
You will instantly become an AAT affiliate member after completing the AAT Professional Diploma in Accounting. This subscription level will be yours until your student membership ends.
Q.4. Is it possible to cancel your AAT membership?
Cancellations made up to ten working days before the event are subject to a 20% administrative fee. Cancellations received during the ten business days of the event will lose the entire course fee.