The AAT Foundation Certificate in Accounting has five required units. These are: Foundation Study, Foundation Qualification in Accountancy, Foundation Training in Accounting, and Auditing Essentials. This foundation training course will help prepare you to enter into an accountant career. This includes teaching you the skills and knowledge you need to be successful in accountancy.
The Foundation Certificate in Accounting is for those already working in the profession but who would like to deepen their knowledge and also to increase their qualifications. aat level 2 The first four modules cover topics such as bookkeeping and control, Auditing Essentials, Reporting and Statistics, and Accounting Concepts. All these topics are covered at level one of the Foundation Certificate in Accounting. As part of the Foundation Certificate in Accounting you will be required to demonstrate proficiency at applying the concepts learned in each module towards a specific business problem. This is done by completing an audit, demonstration, and case study.
The Foundation Certificate in Accounting also covers topics such as the fundamental concepts of accountancy. You will learn that there are many different types of accounts that are included in accounting, including public and private non-public sectors. The foundation training covers the basic concepts that these sectors use. It teaches you the different costing methods used by these sectors, the tax treatment of these costing methods, and also the accountancy standards used within each sector. The course ends with learning about the legal requirements that you must comply with if you wish to become a Chartered Accountant.
The Foundation Certificate in Accounting also introduces you to the major components of auditing. It shows you how to obtain the audited financial statements, for which the chartered accountant is required to prepare reports based on the accounting principles used by the financial institution in which the business operates. The foundation training in accounting teaches you about the different journals that are used in accounting, such as ledgers, journals, and computer journals. It explains to you the difference between an operating journal and a journal of changes, the differences between fiscal journals and financial publications, and finally how to use all of these journals effectively to track all the activity in your business.
The fifth mandatory unit of the foundation certificate in accounting is the Practitioner’s Examination. This examination is usually taken after you have successfully completed the foundation courses in accounting and have achieved your PECS certification (which is a nationally recognized accountant’s license). In this portion of the exam, you will be given a written examination covering all the topics that were covered in the modules covered in the foundation course. There are several formats in which you can take the test, including paper or multimedia. You can choose whether to take it right after completing the Foundation Certificate in Accounting or wait until you have a few months until you feel ready to take the exam again aat level 3.
The final two required modules are Introduction to Concepts and Methods and Research methodology. You will be taught the basics of accounting including management accounting, cost accounting principles, and other concepts through this course. You will also learn the methods and procedures related to accounting and introduce you to various methods including the balance of payments, cash flow analysis, and internal control measures. This qualification will prepare you for junior and entry-level accounting positions in both companies and non-profit organizations.