AAT Accounting Level 3 Diploma

Throughout the programme you will focus on four units:

• Business Awareness
• Financial Accounting: Preparing Financial Statements
• Management Accounting Techniques
• Tax Processes for Businesses.

Business Awareness - You'll develop an understanding of the business, its environment, and the influence that this has on an organisation's structure, the role of its accounting function and its performance. You will examine the purposes and types of businesses that exist, and the rights and responsibilities of key stakeholders. You will learn what the micro- and macro-economic environments are and the impact and influence that changes in these environments can have on performance and decisions. This will include an understanding of the basic business law relating to the preparation of financial statements for different types of entities. You will learn about the concepts of risk, types of risk and risk management for a business.

Financial Accounting: Preparing Financial Statements - Establish the skills required to produce statements of profit or loss and statements of financial position for sole traders and partnerships using a trial balance. In employment, you may be required to prepare a portion of, or all, the final accounts and this unit will give you the theoretical knowledge needed to complete that task. It will also enable you to understand how final accounts have been produced, either manually or automatically through use of accounting software.

Management Accounting Techniques - Understand the role of management accounting in an organisation, and how organisations use such information to aid decision making.

You will learn the principles that underpin management accounting methodology and techniques, how costs are handled in organisations, and why organisations treat costs in different ways. You will be able to recognise different approaches to management accounting and provide informed and reasoned judgements to guide management. You will also learn how to apply these principles and appreciate why effective management accounting is crucial to any organisation.

You will use spreadsheets when making calculations, manipulating, and analysing data, reporting, and forecasting. Skills such as the use of formulas, functions, data analysis tools, sorting and filtering will be vital within accountancy to enable you to perform complex calculations quickly and accurately. After analysis, the data needs to be comprehensively checked and then presented using a range of methods, for example as a structured spreadsheet with pivot tables and charts.

Tax Processes for Businesses - Explore tax processes that influence the daily operations of businesses and develop skills in understanding, preparing, and submitting Value Added Tax (VAT) returns to HM Revenue and Customs (HMRC). The unit provides students with the knowledge and skills that are needed to keep businesses, employers, and clients compliant with laws and practices that apply to VAT and payroll. You will learn about legislation and the importance of maintaining their technical knowledge through monitoring updates.

AAT Level 2 Certificate in Bookkeeping, AAT Level 2 Certificate in Accounting or relevant work experience.

Experience in a finance and/or accountancy environment would be an advantage alongside completion of a Level 2 AAT Accounting or Bookkeeping qualifiaction.

AAT Level 3 Diploma in Accounting

You may wish to progress to the AAT Level 4 Diploma in Professional Accounting qualification. You may also use this qualification to gain related employment in an introductory accounts role or work as a self-employed bookkeeper.

There is a formal external exam held in the College at the end of the unit. However, prior to this, mock exams and homework will be organised to prepare candidates for the final exam.

Lecturers will set exercises to be completed at home and reviewed the following week. You may wish to undertake self-study outside of classroom hours. Approximately three hours a week of non-class work is recommended.

You do not need to be in relevant work to undertake this course although having some knowledge of bookkeeping and finance in a work situation would be an advantage.

In addition to the course fees, there is a qualification fee payable directly to AAT of £225 and exam registration fees of £252, that are payable to the College.