AAT Level 3 Diploma in Accounting

Course Overview

This qualification covers a range of essential and higher-level accounting techniques and disciplines. Students will learn and develop skills needed for a range of financial processes, including maintaining cost accounting records, advanced bookkeeping and the preparation of financial reports and returns. Study the Level 3 Diploma to learn higher accounting techniques and disciplines and qualify for AAT bookkeeping membership (AATQB).

The jobs it can lead to:

• Accounts assistant
• Accounts payable clerk
• Audit trainee
• Credit controller
• Payroll administrator/supervisor
• Practice bookkeeper
• Finance assistant
• Tax assistant
• Accounts payable and expenses supervisor

Entry requirements:

Students can start with any qualification depending on existing skills and experience. For the best chance of success we recommend that students begin their studies with a good standard of English and maths.

Course Content:

Business Awareness:

This unit provides students with an understanding of the business, its environment and the influences that this has on an organisation’s structure, the role of its accounting function and its performance. Students will examine the purpose and types for businesses that exist and the rights and responsibilities of the key stakeholders, as well as gain an understanding of the importance of professional ethics and ethical management within the finance function.

Learning outcomes:
• Understand business types, structure and governance and the legal framework in which they operate.
• Understand the impact of the external and internal environments on business, their performance and decisions.
• Understand how businesses and accounts comply with principles of professional ethics.
• Understand the impact of new technologies in accounting and the risks associated with data security.
• Communicate information to stakeholders.

Financial Accounting: Preparing Financial Statements:

This unit provides students with the skills required to produce statements of profit or loss and statements for financial position for sole traders and partnerships, using a trial balance. Students will gain the double-entry bookkeeping skills needed to record financial transactions into an organisation’s accounts using a manual bookkeeping system.

Learning outcomes:
• Understand the accounting principles underlaying final accounts preparation.
• Understand the principles of advanced double-entry bookkeeping.
• Implement procedures for the acquisition and disposal of non-current assets.
• Prepare and record depreciation calculations.
• Record period end adjustments.
• Produce and extend the trial balance.
• Produce financial statements for sole traders and partnerships.
• Interpret financial statements using profitability ratios.
• Prepare accounting records from incomplete information.

Management Accounting Techniques:

This unit provides students with the knowledge and skills needed to understand the role of management accounting in an organisation, and how organisations use such information to aid decision making. Students will learn the principles that underpin management accounting methodology and techniques, how costs are handled in organisations and why organisations treat costs in different ways.

Learning outcomes:
• Understand the purpose and use of management accounting within organisations.
• Use techniques required for dealing with costs.
• Attribute costs according to organisational requirements.
• Investigate deviations from budgets.
• Use spreadsheet techniques to provide management accounting information.
• Use management accounting techniques to support short-term decision making.
• Understand principles of cash management.

Tax Processes for Businesses:

This unit explores tax processes that influence the daily operations of businesses and is designed to develop students’ skills in understanding, preparing and submitting Value Added Tax (VAT) returns to HM Revenue and Customs (HMRC). The unit provides students with the knowledge and skills that are needed to keep businesses, employers and clients compliant with laws and practices that apply to VAT and payroll.

Learning outcomes:
• Understand legislation requirements relating to VAT.
• Calculate VAT.
• Review and verify VAT returns.
• Understand principles of payroll.
• Report information within the organisation.