AAT FOUNDATION CERTIFICATE IN ACCOUNTING
INFORMATION SHEET AND TASTER ACTIVITY
YEAR 11 STUDENTS
Welcome to New College, Swindon and I am sure you are looking forward to starting your accountancy course in the new academic year.
My name is; Steve Holmes and I am the course co-ordinator of all the AAT courses run at this college. I will also be one of your lecturers, who will guide and support you through the discipline of Accountancy.
I would like to outline the structure of the course, including links to further resources you may wish to read. Finally, relating to one of the units you will be studying, I have written a short activity (and provided answers at the end) for you to have a go at.
Outline of the course
The AAT Foundation Certificate in Accounting is the first of three levels that start your journey to becoming a qualified Accounting Technician. In this first year, you will study five topics:
- Book-keeping transactions
- Book-keeping controls
- Elements of costing
- Working effectively in accounting and finance
- Using accounting software
The first two units; Book-keeping transactions and Book-keeping controls, concentrate on the field of ‘Financial Accounting’. Within these units you will learn the art of ‘Double-Entry Book-keeping’ (processing different transactions relating to selling and purchasing goods/services), preparing a trial balance, undertaking bank reconciliations, preparing journals and control accounts.
The unit; ‘Elements of Costing’, turns its attention to the other branch of accountancy – ‘Management Accounting’. Management Accounting looks at the internal reporting to aid managers in the decision-making process of the business. We will look at such areas as; how much it costs to produce a product/service, how we can value our closing inventory (stock), and comparing budgeted figures with actual figures.
There will be the opportunity to learn how to post transactions using computer-accounting software, to produce a series of very useful reports.
Finally, you will learn the importance of planning and scheduling work, working with others, improving one’s own performance and the importance of ethics and sustainability – all within the area of finance and accounting.
You will be assessed continually, by way of five online assessments. Therefore, you will know how you are performing throughout the year.
As part of the course, you will have the opportunity to undertake work experience in an accounting/finance role, as well as undertake ‘real’-life projects.
The course will include a series of lectures on the different topics, but also allow you to undertake many different activities, which will help to underpin your knowledge and understanding.
Who are the AAT?
As well as enrolling on an accountancy course, you will also register as a student member of the Association of Accounting Technicians (AAT).
The AAT works across the globe with around 130,000 members in more than 100 countries. Their members are represented at every level of the finance and accounting world, including students, people already working in accountancy and self-employed business owners.
‘AAT members are ambitious, focused accounting professionals, many occupying senior, well rewarded positions with thousands of employers – from blue-chip corporate giants to public sector institutions’.
Do feel free to visit their website for some further information.
I trust that this has given you a flavour, and whet your appetite. If you would like to find out more about Financial Accounting and Management Accounting, I have provided a useful link below:
Finally, I have included a taster activity below, relating to an aspect of ‘Elements of Costing’. Do not worry if you do not understand the concept fully, as we will be looking at this again as part of your studies.
I look forward to meeting you in the new academic year.