If you’re going into business for yourself (or even if you’re simply a high school student looking to take a test), then you need to have at least an AAT Level 1 in order to register for examinations. If you don’t, it’s important that you learn what the different levels are before spending any money on training. Here’s a quick rundown of all the different levels, and the subjects they cover.
AAT Level 1: Accounting Qualifications A full year of accounting qualifications will get you this certificate, which is an essential requirement to do business in Bermuda. This level offers a basic, foundational knowledge of the discipline, which is useful if you’re looking for a career in accounts, or those already employed in the field. Level 1 covers concepts from bank reconciliation to asset valuing, with both computerised and manual methods used. Graduates will be able to handle general ledger and journal accounts; public and private corporate journals; single and double entry bookkeeping; balance and sales accounts; and trend analysis. Some graduates go on to train as accountants, and open their own firms in Bermuda or elsewhere. Others find work as financial managers or tax professionals, or work in non-profit organizations doing direct mail or donations More Bonuses.
AAT Level 2: Bookkeeping Qualifications This is a secondary requirement, and covers a range of skills and competencies needed in everyday life. This is usually achieved by earning an associate’s degree, followed by a bachelors degree or certification. As with level one, this emphasizes computer software applications and bookkeeping transactions. However, bookkeepers also need to understand payroll processing and benefits management. Associates degree holders can go on to train as auditors or investment analysts.
The next part of the qualification process is to build on the foundation of basic accounting knowledge, and create computerised accounts. This takes the place of learning about journaling, and the practical application of principles based on accounting theory. Accountsants who successfully complete a at level two will be able to handle all forms of financial documentation, including invoicing, payments, and client statements. They will also have the knowledge to implement sound risk management procedures, understand the importance of budgeting, and prepare reports that are up to date and easily accessible.
At level three of auditing, an accountant is able to apply their understanding to other aspects of business. There will be a requirement for a more comprehensive knowledge. Auditors will need to demonstrate competency in order to qualify for a position as an auditing manager. This includes the ability to analyse and report on the effectiveness of a company’s financial practices, the quality and accuracy of documents relating to accounts and ledgers, and the suitability of accounting staff. The role of an auditor can be a complex one, and at level four an accountant will have completed their aat qualification and become eligible for a professional registration mark navigate to these guys.
A level 2 certificate is the basic entry-level qualifications into the profession. Whilst it may not be enough to begin working in a specific area, it provides the foundation for further work and understanding. The skills gained from aat level two can then be applied towards higher qualification and more exciting career opportunities. This means that those who have gained a qualification and shown that they are competent, will stand the best chance of progressing within their organization and to a lucrative role within a consultancy.