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Tips For AAT Level II – Exam Questions and Answer Points

The AAT Foundation Certificate in Accounting level 2 is now available for second teaching 1 September 2021 onwards. The main aim of the AAT Foundation Certificate in Accounting was to provide solid grounding in the essential core accounting skills and concepts required to move on to either further study or into employment. In order to teach the foundation courses, there needs to be an assessment test administered by a trained assessor. There are a variety of areas covered within the scope of the AATs, including basic management, taxation and corporate finance. In addition, it covers the vital areas of bookkeeping, single and partnership, budgeting, and compliance as well as accounting systems, management information systems, financial reporting, ethics and accounting principles you can try this out.

 

The AAT Foundation Certificate in Accounting level 2 provides a solid foundation in core accounting skills needed for advancement and professional advancement. This qualification is the first step towards a successful career in accounting and is therefore a vital prerequisite for entry level positions. If you are aiming to get onto higher positions in an accountant firm or in another similar field then you are going to need a much more detailed understanding of this knowledge base. The need for further qualifications and understanding of matters such as internal control, risk management and fraud prevention becomes more important. To that end, it is important that you understand exactly what you are learning, when you are learning it and how it can help you with your career.

 

There are two components to the AAT Level 2, the Practical Areas and the elective modules. As with the previous exams, this syllabus is broken down into a set of three main groups, each focusing on a different area of accountancy. There are eleven modules in total, including five general topics and fifteen specialist topics. The topics covered in this article cover the key areas of accountancy, as seen through a practitioner’s point of view.

 

This means that in order to prepare properly for these exams, you need to have a thorough understanding of the topics within each area of core accounting. You also need to demonstrate your own practical and managerial skills. In order to achieve this, you must prepare fully for the module, which includes an introduction to accountancy, a brief history of it and detailed accounts of some of the major issues affecting it at present, as well as the key issues in its daily operation. You will then learn about concepts such as cost accounting, cash flow, profit and loss, working capital and balance. Finally, in the elective module you will learn about the core areas of taxation and business development, as well as the organisation and administration of small businesses.

 

The second part of the exam deals with working with bank statements, ledgers and journals, as well as entering accounting transactions. As a starting point, you should learn the basics of how to prepare a bank statement. This is quite straightforward. The key issue is that at the AAT level you need to be able to identify the key transaction types – for instance, only list equity transactions, not debt transactions or vice versa. In addition, you must clearly indicate the dates when each entry was made and identify who completed it and why.

 

The third and final part of the examination covers topics such as managing financial resources, preparation of payroll, preparing tax returns, and financial projections. To prepare for this section you will need to study thoroughly all the principles within the accounting and financial division, including accountancy principles, double-entry principles and budgeting concepts. You will also need to understand how various jobs within the finance department are performed. The job roles are further split into functional areas, including those associated with marketing, planning and sales. To prepare effectively for these topics, you should study widely on the subject matter and familiarize yourself with common job roles and processes. To help you out, there are a number of AAT tutor support resources.