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This foundation level is where you’ll get to develop your skills in finance administration: double-entry bookkeeping, basic costing principles and purchase, sales and general ledgers.
Once you’ve completed the foundation level, you’ll be awarded the AAT Level 2 Foundation Certificate in Accounting (Level 5 in Scotland).
Ideal Schools will provide:
- All Study Materials via textbook or presentation folder
- Online access to all textbook training
- Sage 50 Accounts Essentials
- 2 years tutorial support via phone & email
- Continuous Self Progress tests & Answers
- 20+ tutor marked assignments
- Unlimited access to online practice questions
Exam Structure: 5 x centre based examinations
Synoptic Exam: The 5th and final exam will cover all elements of Level 2. Although the subject of Working Effectively in Finance is not tested on an individual basis, it will be covered within this final exam.
Study Time: Approx 120-150 hours
1 x AAT Registration fee £43
1 x AAT Annual Membership £92
5 x Centre-Based exams costing approx. £60-65 per exam
here are five mandatory units at the introductory level:
Understanding double-entry bookkeeping, integrating books of prime entry and describing coding system functions
Understanding discounts and settlement, trade and bulk discount differences
Preparing and processing customer and supplier invoices and credit notes
Totalling and balancing a 3-column analysed cash book
Totalling, balancing and reconciling petty cash records within an analysed petty cash book
Processing ledger transactions and extracting a trial balance.
Understanding the purpose and use of control accounts and journals
Maintaining and using control accounts and the journal
Reconciling a bank statement with the cash book
Understanding the banking process and main services of banks and building societies
Understanding requirements of retention and storage relating to banking documents
Elements of costing
Understanding an organisation’s cost recording system and using it to record or extract data
Use of spreadsheets to convey information on actual and budgeted income and expenditure.
Using computerised software
Entering data at the start of an accounting period to set up customer and supplier accounts
Recording and processing customer and supplier transactions
Recording and reconciling bank and cash transactions
Processing and using journals to enter accounting transactions
Production of reports (day books, account activity, aged analysis, statements or remittance advice).
Work effectively in finance
Understanding an organisation’s accounting or payroll function
Using numeracy and literacy communication skills
Working independently or in a team to prioritise tasks and manage colleagues’ responsibilities
Understanding ethical values, principles and importance of confidentiality
Understanding and explaining benefits to organisations of sustainable values.
Here are just a few positions that you could consider upon completion of this study.
Accounts Payable Clerk
Purchase/Sales Ledger Clerk
Trainee Accounts Technician.
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