AAT AQ2016 New Syllabus All you need to know

Transcription

1 AAT AQ2016 New Syllabus All you need to know

2 The AAT have announced the launch of their new syllabus AQ 2016 from 1 September There are four main changes in the new syllabus (AQ2016): The names of the levels and units have changed. There will be a synoptic assessment at the end of each level. A synoptic assessment is an exam that will cover the whole syllabus of a level. Level 2 synoptic exams will be available most weeks, Levels 3 & 4 synoptic exams will only be available 4-5 times a year. Each level will now be graded, your final grade will either be Pass, Merit or Distinction. The new syllabus will have some resit restrictions. Click this link to read our blog about how the resit restrictions might effect you.

3 Level 2 Name Changes Level 2 AQ Introductory Certificate in Accounting Name Processing Bookkeeping Transactions Control Accounts, Journals and the Banking Systems Basic Costing Computerised Accounting Work Effectively in Accounting & Finance AQ2016 Foundation Certificate in Accounting Name Bookkeeping Transaction Bookkeeping Controls Elements of Costing Using Accounting Software Work Effectively in Finance Synoptic

4 Level 3 Name Changes Level 3 Intermediate Diploma in Accounting AQ2013 Name Accounts Preparation Prepare Final Accounts for Sole Traders and Partnerships Costs & Revenues Indirect Tax Professional Ethics Spreadsheets Advanced Diploma in Accounting AQ2016 Name Advanced Bookkeeping Final Accounts Preparation Management Accounting: Costing Indirect Tax Ethics For Accountants Spreadsheets for Accounting Synoptic

5 Level 4 Name Changes Level 4 Advanced Diploma in Accounting AQ2013 Name Budgeting Financial Performance Financial Statements Internal Controls and Accounting Systems External Auditing (optional unit) Business Tax (optional unit) Personal Tax (optional unit) Credit Control (optional unit) Cash Management (optional unit) Professional Diploma in Accounting AQ2016 Name Management Accounting: Budgeting Management Accounting: Decision and Control Financial Statements of Limited Companies Accounting Systems and Controls External Auditing (optional unit) Business Tax (optional unit) Personal Tax (optional unit) Credit Management (optional unit) Cash and Treasury Management (optional unit) Synoptic

6 Level 2 Foundation Certificate in Accounting Bookkeeping Transaction Bookkeeping Controls Elements of Costing Work Effectively in Finance Using Accounting Software Level 2 Foundation Certificate in Accounting Each assessment counts towards the overall grade of the level Bookkeeping Transactions 22% Bookkeeping Controls 16% Elements of Costing 16% Using Accounting Software 16% Synoptic Synoptic 30%

7 Level 3 Advanced Diploma in Accounting Advanced Bookkeeping Final Accounts Preparation Management Accounting: Costing Indirect Tax Ethics for Accountants Spreadsheets for Accountants Level 3 Diploma in Accounting Each assessment counts towards the overall grade of the level Advanced Bookkeeping 20% Final Accounts Preparation 15% Management Accounting: Costing 20% Indirect Tax 10% Synoptic 35% Synoptic

8 Level 4 Professional Diploma In Accounting Financial Statements of Limited Companies Management Accounting: Budgeting Management Accounting: Decision and Control Accounting Systems and Controls Students must also complete two of the optional units below and their associated Business Tax Personal Tax Credit Management Level 4 Diploma in Accounting Each assessment counts towards the overall grade of the level Financial Statements of Limited Companies Management Accounting: Budgeting Management Accounting: Decision and Control 15% 15% 15% Optional 1 10% External Auditing Optional 2 10% Synoptic Cash and Treasury Management Synoptic 35%

9 Synoptic assessments The synoptic assessment is a new element within the AQ2016 accounting qualifications. Under AQ2016 you need to complete a new synoptic assessment before moving on to your next level. A synoptic assessment tests the knowledge you have gained throughout the level, covering multiple (but not all) topics. It has been introduced to demonstrate your knowledge of core accountancy skills, your ability to apply them in the workplace. The duration of the synoptic assessment will vary depending on the qualification: Foundation synoptic assessment: 2 hours. Advanced synoptic assessment: 3 hours. Professional synoptic assessment: 3 hours. Each qualification has one synoptic assessment, which should be sat at the end of your qualification when all the associated learning has taken place. assessments will still be available on demand, but synoptic assessments will be restricted to fixed assessment sittings.

10 Each level will now be graded, this will be determined by the percentage you have achieved in each unit assessment and the synoptic assessment. Your final grade will either be Pass, Merit or Distinction. Grade Pass Merit Distinction Percentage

11 New students Do not wait until 1 September 2016 to start your AAT studies, get started straight away by registering for the current AQ2013 syllabus. You may then be mid level when the new syllabus launches. You will be able to follow the advice above and either: Continue your current level under AQ2013 and you will have until 31 December 2017 to complete it. Or finish your level under AQ2016 (remember to speak to your tutor or training provider to decide which units you should study and when).

12 If you are an existing AAT student what are your options? If you are currently studying AAT you will need to think about how this syllabus change will affect you. You may need to make a decision about when you will begin studying the new AQ2016 syllabus. Stay on AQ2013 to complete your current level and your next level. Stay on AQ2013 to complete your current level and start your next level on the new syllabus. Transfer to AQ2016 to complete your current level.

13 Stay on AQ2013 to complete your current level and your next level You can still carry on studying AQ2013 syllabus up until 31st December If you have registered before 31 August you will have the choice of completing your studies under the old or new syllabus. However, if your membership lapses, when you renew it (if it is after 1 September 2016) you will automatically be on AQ2016 there will not be the option to complete under AQ2013. If you would like to stay on AQ2013 for your current level and your next level you should: Not let your AAT membership lapse. Finish your current level. Completing a level will automatically register you for the next level but you should contact the AAT to ensure you are registered for your next level under AQ2013. You will then have until 31st December 2017 to complete that next level. When booking your assessment make sure your assessment centre knows your exam is to be AQ2013!

14 Stay on AQ2013 to complete your current level and start your next level on the new syllabus You will have until 31 December 2017 to complete your current level under the new syllabus. If you complete this after 1 September 2016 you will be automatically registered for the next level for the new syllabus. Make sure you book your current level exams under AQ2013 (you will need to mention this when booking in to your assessment centre). Complete your current level by 31 December 2017.

15 Transfer to AQ2016 to complete your current level If you are part way through a level at the end of August 2016 you can choose to complete the level under the current syllabus or transfer to AQ2016. If you transfer to AQ2016 remember that some units will not transfer across from AQ2013 to AQ2016. You will also be required to sit the synoptic assessment for that level. Continue to work through your assessments under the current syllabus until 31 August 2016 and then any assessments after this date can be taken under AQ2016. Speak to your tutor/training provider to decide which order to complete the units at your current level (you do not want to complete an assessment for a unit which does not transfer across). Review the detail of the new syllabus and the new synoptic assessment to ensure you understand the impact the changes will have on your studies should you choose to transfer to the new syllabus.

16 Please contact your tutor with any queries you have regarding the new syllabus or visit aat.org.uk/2016update for more information or use their recommendation tool to see when AAT suggest you move onto the new syllabus.