The AAT Foundation Certificate in Accounting level 2 is scheduled to be available for first learning 1 September 2016. The aim of this course is to provide ground in the basic core accounting skills and knowledge needed to move on to further study or to employment. This is a two-credit course which is suitable for those who have completed the foundation degree. This is an advanced financial accounting course designed to provide knowledge in management effectiveness official site.
With a foundation degree, a candidate would normally be expected to be familiar with the fundamental concepts of accounting such as principals, concepts, models, principles, concepts and other relevant terminology. At this point in time, a candidate is not expected to know about complex concepts like mathematical formulas. The second level of the AAT exam includes a more difficult set of questions, which test the candidate’s ability to understand and interpret the data presented in the exam papers. It is expected that candidates who have taken and passed the foundation level examination will be able to comprehend the meaning and format of the questions asked on the second level. Candidates who have not yet passed the second level examination will need to take the practical test for assessment before they can successfully complete the second level of their aat foundation certificate in accounting.
The practical test involves a set of 30 questions, which are based on modules from the different modules of the second level of the AAT exam. Candidates who have already passed the foundation level examination may use the practice questions for understanding the content and for working effectively within the limitations set by the examination board. The topics covered include how to enter accounting transactions, how to manage the accounts receivable and accounts payable, entering finance transactions, understanding the document accounting system and working effectively within the material accounting system. In addition, the candidates need to know the differences between the spreadsheet application and the application to the database management system. They also need to know how to create the balance sheet, work out the income statement, establish the balance sheet re-balance and analyze the document accounting system.
To facilitate an easy transition from foundation certificate to the second level of the aat level 2 certificate, it is important for students to earn one or two additional credits. Students who earn an individual credit of at least one additional credit will qualify for immediate eligibility for a diploma qualification. Students who fail to meet the mandatory units for passing the exams do not automatically lose the opportunity to earn a diploma. These students can still earn up to two additional credits by completing an elective course approved by the relevant association.
Most professional associations require students to take a relevant elective or profession course prior to gaining their aat advanced diploma. This requirement helps students identify their career pathways as they study for their second level certification. It is possible to study the Bachelor’s degree in any discipline that is approved by the relevant accrediting body and gaining a diploma will entitle you to enroll for the next level of your choice. Discipline approved courses include: business studies, communications, administration, economics and management, environmental science, healthcare, human services, legal, marketing and related fields.
The Accounting Service has detailed information on its accredited online associate and bachelor’s degree programs. They also have sample examinations and career paths outlined in a comprehensive . Students can register for free on the Australian Accreditation Service website and can gain their first aat level 2 certificate. Upon successful completion of the course, students can request their transcripts and diplomas.