Accounting - AAT Level 4 Professional Diploma

This level 4 covers higher level accounting tasks, including drafting financial statements, managing budgets and evaluating financial performance.
You need to take all four mandatory papers and then choose two of the four optional ones which allow you to specialise in areas from tax to auditing and credit control.
Level 4 is perfect if you have progressed through Levels 2 and 3
On successful completion of this level you will be awarded the AAT Accounting Qualification. With proof of one years past relevant work experience you will be able to apply to become a full member of AAT and use the letters MAAT after your name.

Course Content

The mandatory units are:
Applied Management Accounting
This unit explores the use of budgeting for planning, coordinating and authorising the activities of an organisation and for controlling costs. The unit
provides skills and knowledge to improve the performance of an organisation by setting targets, constructing achievable plans and monitoring results
It also covers management accounting principles and concepts and will develop understanding of the nature and importance of different concepts such as
cost behaviour, cost analysis, standard costing and contribution theory. You will know when each technique should be used to aid the planning and
decision making of an organisation and the subsequent analysis for control purposes.
Drafting and Interpreting Financial Statements
This unit focuses on drafting, analysis and interpretation of financial statements of limited companies. This builds on the Foundation and Advanced levels,
where the emphasis of the financial accounting units is on identifying and recording transactions in accounts and ledgers following the principles of doubleentry
bookkeeping, and drafting the financial statements of unincorporated organisations from the accounts and records prepared.
Internal Accounting Systems and Controls
This unit aims to enable students to demonstrate their understanding of the role of the accounting function in an organisation and the importance of internal
controls in minimising the risk of loss. Students will undertake an evaluation of an accounting system to identify weaknesses and assess the impact of
those weaknesses on the operation of the organisation.

The optional units are:(Two must be completed and the courses offered will be decided by the tutor)
Business Tax
This unit introduces the student to UK taxation relevant to businesses. It is about the computing of business taxation, preparation of tax returns and how
taxation has an impact on the running of a business for sole traders, partnerships and limited companies.

Personal Tax
This unit is about the key aspects of taxation that affect UK taxpayers. It covers income tax, National Insurance (NI), capital gains tax and inheritance tax.

Audit and Assurance
This unit aims to develop a wider understanding of the principles and concepts, including the legal and professional rules of audit and assurance services.

The unit will provide students with an awareness of the audit process from planning and risk assessment to the final completion and
production of the audit report.

Credit and debt management
This unit provides an understanding and application of the principles of effective credit control systems, including appropriate debt management systems. Organisations will usually offer credit terms to its customers, which could lead to financial difficulties if customers pay late or do not pay at all. It is therefore important to determine that potential credit customers can honour any credit terms agreed.

Weekdays class: The elective modules are business tax, audit and assurance and/or credit and debt management
Saturday class: The elective modules are business tax and personal tax

Entry Requirements

To be eligible for this course you must be 19 or over on 31st August prior to the course start date.

You must have completed the AAT Level 3 Diploma in Accounting
You will also need to complete a literacy and numeracy screening assessment if you have not achieved GCSE mathematics and English at grade C or equivalent.
You must be able to use Word and Excel

First Class Requirements

Paper, pen and calculator

Assessment Methods

The mandatory units Management Accounting: Applied Management Accounting, Drafting and Interpreting Financial Statements and Internal Accounting
Systems and Controls and the mandatory unit will be assessed together in the synoptic paper.T he optional units are assessed by unit assessment
are Business Tax, Personal Tax , Credit and debt management and/ or Audit and Assurance.

Students achieving the AAT Professional Diploma in Accounting will be awarded a grade based on performance across the qualification. Unit assessments and synoptic assessments are not individually graded. These assessments are given a mark that is used in calculating the overall grade.

Further Study Options

However, the primary and most important outcome of the AAT Professional Diploma in Accounting is that it can lead to a wide variety of well-paid accountancy and finance jobs, some of which include:
professional accounting technician
assistant auditor
assistant management accountant
commercial analyst
payroll manager
senior bookkeeper
senior financial officer
accounts payable and expenses supervisor
assistant financial accountant
cost accountant
fixed asset accountant
indirect tax manager
payments and billing manager
senior fund accountant
senior insolvency administrator
tax supervisor
VAT accountant.

The AAT Professional Diploma in Accountancy can give qualified students exemptions towards all or parts of the UK's chartered and certified accountancy qualifications. The following chartered bodies offer exemptions to AAT students:
1. The Chartered Institute of Public Finance and Accountancy (CIPFA)
2. The Institute of Chartered Accountants in England and Wales (ICAEW)
3. The Association of Chartered Certified Accountants (ACCA)
4. The Chartered Institute of Management Accountants (CIMA)
5. The Institute of Chartered Accountants of Scotland (ICAS).

Additional Information

You will have to register with AAT. The fee will be approximately £155. Exam fees are included in the fees. However if you are required to resit a paper you will be charged a fee.

You will be required to purchase AAT textbooks and question banks. Your tutor will advise you on this on the first day of class.