Level 2 Certificate in Accounting delivers a solid foundation in finance administration and core accounting skills, including double-entry bookkeeping, basic costing and an understanding of purchase, sales and general ledgers.
AAT Qualification is equivalent to accounting technician level qualification. AAT Level 2 is Equivalent to GCSE, AAT Level 3 is equivalent to two A-Levels and AAT Level 4 is equivalent to QCF Level 4 qualification.
Course Overview
You will learn how to prepare final accounts of sole traders and partnerships. You will also learn how to maintain cost accounting records and to prepare reports and returns. You are also required to register as a student directly with AAT and pay the one-off membership fee.
How long does AAT Level 2 take? According to the AAT: Level 2 Certificate in Accounting usually takes around 12 months, but can be done in as little as 6 months. Our Academic Support team says: Based on 6-8 hours per week, plus exams, you can expect to finish Level 2 in around 6-12 months.
A Level 2 qualification represents a specific level of academic or vocational achievement recognised by an accrediting body in the United Kingdom. Broadly equivalent to GCSEs in academic terms, Level 2 now aligns with a broad range of vocational qualifications and apprenticeships.
As you might expect, the Level 4 Diploma in Professional Accounting is the most challenging of the AAT qualifications. However, it is also the most prestigious and most valued by employers and potential clients.
Successfully completing the AAT Level 4 qualifies you as an accounting technician. This isn't the same as a chartered accountant , but completing the Level 4 qualification provides you with the skills expected of prospective chartered accountants.
They maintain financial records, prepare tax returns, and advise businesses on financial matters. There is a hierarchy in the accounting profession, with different levels of accountants having different responsibilities. The most junior position is that of accountant trainee or assistant accountant.
Accountant I is the entry-level professional job in this series. Accountant II is the first-level supervisory job in this series. Accountant III is the second-level supervisory job in this series. Accountant IV is the third-level supervisory job in this series.
A Level Accounting is relevant for students who want to pursue a degree in Accounting or Business Studies at university. Almost all Business and Finance degrees will have several Accounting modules in their programmes.
At the highest level of companies, job titles typically include controller, comptroller, treasurer, finance manager and chief financial officer (CFO). The CFO is usually the highest-ranking financial person at a business, working with other upper-level finance executives.
A Level 4 diploma is equivalent to the first year of a bachelor's degree. It provides a solid foundation in a specific field of study and can lead to further education or entry-level positions in various industries.
Level 2 is experience expected of a newly certified CPA. Completed tasks can be both complex and undertaken with autonomy. Highly complex tasks undertaken with a moderate level of autonomy may also count as Level 2 experience.
9 Tier 2 comprises the recognition and measurement requirements of Tier 1 (including consolidation and the equity method of accounting) but substantially reduced disclosure requirements.
Level 1 is a foundational course, covering basic accounting principles and mechanics that will prepare you for more advanced levels of understanding and analysis.
Though there are 12 branches of accounting in total, there are 3 main types of accounting. These types are tax accounting, financial accounting, and management accounting. Management accounting is useful to all types of businesses and tax accounting is required by the IRS.
Accountant II is distinguished from Senior Accountant in that employees in the latter class supervise a unit of professional accountants and support staff involved in courtwide accounting and financial reconciliation functions.
Accountant I is the entry-level class in the professional Accountant series. Under general supervision, within a framework of established policies and procedures, incumbents learn and perform less complex and specialized professional accounting tasks.
This qualification covers a range of essential and higher-level accounting techniques and disciplines. Students will learn and develop skills needed for a range of financial processes, including maintaining cost accounting records, advanced bookkeeping and the preparation of financial reports and returns.
Level 2. Get a foundation in finance administration and core accounting skills, including double-entry bookkeeping, basic costing, and sales and purchase ledgers. How long does it take? 6–12 months. (Depends on study method and course timetable)
You can start AAT Level 4 with any qualification depending on your experience and skills. Unlike AAT Level 2 and AAT Level 3, the AAT level 4 offers higher level accounting skills and understanding.
Progressing to ACCA after AAT Professional (Level 4)
Once you've completed AAT Professional Diploma (level 4) you can go on to do the full ACCA qualification and become a chartered accountant, but you will also be able to apply for some exam exemptions (see below).
It covers a wide variety of topics at different skill levels. It tests those topics using multiple question types, including some that simulate real-world tasks CPAs are expected to perform. You have a limited amount of time (30 months from when you pass your first section) to pass four sections.