aat aq2016 new syllabus all you need to · pdf fileprocessing bookkeeping transactions...
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AAT AQ2016 New Syllabus
All you need to know
The AAT have announced the launch of their new syllabus AQ 2016 from 1 September 2016.
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.
Level 2AQ2010 - Introductory Certificate in Accounting AQ2016 – Foundation Certificate in Accounting
Unit Name Unit Name
Processing Bookkeeping Transactions Bookkeeping Transaction
Control Accounts, Journals and the Banking Systems Bookkeeping Controls
Basic Costing Elements of Costing
Computerised Accounting Using Accounting Software
Work Effectively in Accounting & Finance Work Effectively in Finance
Synoptic Assessment
Level 2 Name Changes
Level 3Intermediate Diploma in Accounting Advanced Diploma in Accounting
AQ2010 Unit Name AQ2016 Unit Name
Accounts Preparation Advanced Bookkeeping
Prepare Final Accounts for Sole Traders and Partnerships Final Accounts Preparation
Costs & Revenues Management Accounting: Costing
Indirect Tax Indirect Tax
Professional Ethics Ethics For Accountants
Spreadsheets Spreadsheets for Accounting
Synoptic Assessment
Level 3 Name Changes
Level 4Advanced Diploma in Accounting Professional Diploma in Accounting
AQ2010 Unit Name AQ2016 Unit Name
Budgeting Management Accounting: Budgeting
Financial Performance Management Accounting: Decision and Control
Financial Statements Financial Statements of Limited Companies
Internal Controls and Accounting Systems Accounting Systems and Controls
External Auditing (optional unit) External Auditing (optional unit)
Business Tax (optional unit) Business Tax (optional unit)
Personal Tax (optional unit) Personal Tax (optional unit)
Credit Control (optional unit) Credit Management (optional unit)
Cash Management (optional unit) Cash and Treasury Management (optional unit)
Synoptic Assessment
Level 4 Name Changes
Level 2 Foundation Certificate in Accounting
Bookkeeping Transaction
Bookkeeping Controls
Elements of Costing
Work Effectively in Finance
Using Accounting Software
Unit Assessment
Unit Assessment
Unit Assessment
Unit Assessment
Synoptic Assessment
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 Assessment 30%
Level 3 Advanced Diploma in Accounting
Advanced Bookkeeping
Final Accounts Preparation
Management Accounting:
CostingIndirect Tax
Ethics for Accountants
Unit Assessment
Unit Assessment
Unit Assessment
Unit Assessment
SynopticAssessment
Spreadsheets for
Accountants
Level 3Diploma in AccountingEach assessment counts towards the overall grade of the level
Advanced Bookkeeping 20%
Final Accounts Preparation 15%
Management Accounting: Costing 20%
Indirect Tax 10%
Synoptic Assessment 35%
Level 4 Professional Diploma In Accounting
Financial Statements of
Limited Companies
Management Accounting: Budgeting
Management Accounting: Decision and
Control
Accounting Systems and
Controls
Unit Assessment
Unit Assessment
Unit Assessment
Synoptic Assessment
Business Tax
Personal Tax
Credit Management
External Auditing
Cash and Treasury Management
Students must also complete two of the optional units below and their
associated Unit Assessment
Level 4Diploma in Accounting Each assessment counts towards the overall grade of the level
Financial Statements of Limited Companies
15%
Management Accounting: Budgeting
15%
Management Accounting: Decision and Control
15%
Optional Unit 1 10%
Optional Unit 2 10%
Synoptic Assessment 35%
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.
Unit assessments will still be available on demand, but synoptic assessments will be restricted to fixed assessment sittings.
Grade
Pass
Merit
Distinction
Percentage
70 – 79
80 – 89
90 - 100
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.
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).
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.
Stay on AQ2013 to complete your current level and your next level
You can still carry on studying AQ2013 syllabus up until 31st December 2017. 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!
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.
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.
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.