AAT Level 2 Certificate In Accounting A Guide To Help You .

AAT Level 2 Certificate in Accounting*A guide to help you succeed*In Scotland, AAT Certificate in Accounting at SCQF Level 5.

Your AAT journeyAs a standalone qualification, or as a first step towards theintermediate and advanced levels, the introductory level of theAAT Accounting Qualification allows you to move up to furtherstudy in accountancy and finance. And we’ll be here to help youthrough your studies and support you every step of the way.Level 4 (QCF) / Level 8 (SCQF)Diploma in AccountingLevel 4 (QCF) Higher Apprenticeship /Level 8 (SCQF) Technical ApprenticeshipLevel 3 (QCF) / Level 6 (SCQF)Diploma in AccountingLevel 2 (QCF)* / Level 5 (SCQF)**Certificate in Accounting*QCF: Qualifications and Credit Framework**SCQF: Scottish Credit and Qualifications Framework2To access these study support materials, visit aat.org.uk/level2support

AAT supportAs part of your membership, you also have access to loadsof other great resources to help you on your way. Sign up for a MyAAT account to access exclusive services and resources. Visit our social media channels for help and advice from other AAT students. Check out our career support resources to help you progress your career further.Watch a study skills webinar event; they’ll help develop your learning and ensureyour study is effective.Visit AAT forums for accountancy help and advice.Start your full AAT membership and boost your career, job satisfaction and earnings.Our interview simulator can help you prepare for your job interview increasing yourchances of success.Use our online CV† Builder to create a CV† that stands out from the crowd.Interactive tutorials are online sessions that allow you to quickly gain the knowledgeand skills you need.Our Excel e-learning allows you to practice the skills that are relevant to you anddevelop your understanding of what Excel can do for you as a finance professional.Look through thousands of jobs on our job search – from trainee positions throughto senior management roles.Find out more about getting ready for your assessments and access to our onlinesupport materials at aat.org.uk/level2support† CV refers to resume in the UK3

ContentsUnitsBasic costing (BCST)6Computerised accounting (CPAG)8Work effectively in accounting and finance (WKAF)10Processing bookkeeping transactions (PBKT)12Control accounts, journals and the banking system (CJBS)144To access these study support materials, visit aat.org.uk/level2support

AAT Level 2 (QCF) / Level 5 (SCQF)Certificate in AccountingThe AAT Level 2 Certificate in Accountingis the introductory level of the AATAccounting Qualification. You’ll developyour skills in finance administration:double-entry bookkeeping, basic costingprinciples and purchase, sales andgeneral ledgers.Once you’ve completed the introductorylevel, you’ll be awarded the AAT Level 2Certificate in Accounting.A guide to help you succeedIf you’re looking for a guide to help youcomplete your AAT Certificate in Accounting,you’ve come to the right place.Support materials are available for all unitsat this level – this guide helps you make bestuse of all the resources available to you.This guide highlights all of the study supportmaterials available to help you complete thislevel and progress on to the next level.It includes the following information:Once you’ve looked at all of the resources,use the checklist so you can keep track ofwhich units you’ve prepared for. an overview of the units study support available for each unitthrough your MyAAT account highlights from the Assessmentperformance reports for each unit.5

Basic costing(BCST)Overview of unit Understanding an organisation’s costrecording system and using it to recordor extract data.Using spreadsheets to conveyinformation on actual and budgetedincome and expenditure.Study support categoryGuidance and standards2Mapping document1E-learning8Green Light test1Performance feedback2Sample assessment4ChecklistUse the checklist below to ensure you have accessed all of the supportmaterials available for Basic costing.Basic costing study supportStandards: unit specificationGuidanceMapping documentInventory valuation using AVCO e-learning moduleInventory valuation using FIFO and LIFO e-learning moduleLabour payments (PDF)Total and unit costs e-learning moduleActual and expected costs e-learning moduleManufacturing accounts e-learning moduleGreen Light testAssessment performance reportsSample assessment (questions 1)Sample assessment answers (questions 1)Sample assessment (questions 2)Sample assessment answers (questions 2)6To access these study support materials, visit aat.org.uk/level2support

Assessment performancefeedback for Basic costingThe Assessment performance report, published by the LeadAssessment Writer for Basic costing, reviews student performancein all Basic costing assessments taken from 1 October 2015 to31 March 2016. In the report, we provide task by task feedback andadvice to form a comprehensive review of this unit. This includesadvice on how best to approach the assessment.The full report, including the tasks highlighted below where studentperformance was strong and where it was weak, is available ataat.org.uk/level2supportStrong performanceWeak performanceThe task which studentshave performed strongest inis task 8 – Identify differenttypes of inventory using amanufacturing account.The task which students havefound most challenging is task 6This task uses a manufacturingaccount to show the transitionfrom an inventory of raw materialthrough to an inventory of finishedgoods. Student performancefor the review period was verygood, where most students eithermet or exceeded competencerequirements for the task.a) Classification of fixed, variableand semi-variable costb) Identification of cost as fixedor variable.This is a clear weak area forstudent performance for the periodunder review. The importance ofthe subject matter of the task, costbehaviour, is an area that providesthe initial understanding that isdeveloped further in the later unitsfor the qualification.Have you read the Basic costing Assessment performance report?This is available at aat.org.uk/level2support7

Computerised accounting(CPAG)Overview of unit Entering data at the start of anaccounting period to set up customerand supplier accounts.Recording and processing customerand supplier transactions.Recording and reconciling bank andcash transactions.Processing and using journals to enteraccounting transactions.Production of reports (day books,account activity, aged analysis,statements or remittance advice).Study support categoryGuidance and standards2Mapping document1E-learning5Sample assessment3ChecklistUse the checklist below to ensure you have accessed all of the supportmaterials available for Computerised accounting.Computerised accounting study supportStandards: unit specificationGuidanceMapping documentTaking backup copies of data e-learning moduleProcessing invoices and credit notes e-learning moduleHow to choose a password e-learning moduleCustomer receipts e-learning moduleEntering opening balances e-learning moduleSample assessment (questions 1)Sample assessment answers (questions 1)Sample assessment (question 1) LearnPlus format8To access these study support materials, visit aat.org.uk/level2support

Laura Thyer MAATPortman Healthcare“The online resources mean I can revise wherever I amand complete e-learning modules when studying.”9

Working effectively in accountingand finance (WKAF)Overview of unit Understanding an organisation’saccounting or payroll function.Using numeracy and literacycommunication skills.Working independently or in a teamto prioritise tasks and managecolleagues’ responsibilities.Understanding ethical values,principles and importanceof confidentiality.Understanding and explaining benefitsto organisations of sustainable values.Study support categoryGuidance and standards2Mapping document1E-learning7Performance feedback2Sample assessment4ChecklistUse the checklist below to ensure you have accessed all of the supportmaterials available for Working effectively in accounting and finance.Working effectively in accounting and finance study supportStandards: unit specificationGuidanceMapping documentSolvency e-learning moduleReport writing e-learning moduleConflict resolution e-learning moduleThe accounts department e-learning modulePersonal development plans e-learning moduleSustainability e-learning moduleIntroduction to professional ethics e-learning moduleAssessment performance reportsSample assessment (questions 1)Sample assessment answers (questions 1)Sample assessment (questions 2)Sample assessment answers (questions 2)10To access these study support materials, visit aat.org.uk/level2support

Assessment performance feedbackfor Working effectively in accountingand financeThe Assessment performance report, published by the LeadAssessment Writer for Working effectively in accounting and finance,reviews student performance in all Working effectively in accountingand finance assessments taken from 1 October 2015 to31 March 2016. In the report, we provide task by task feedbackand advice to form a comprehensive review of this unit. This includesadvice on how best to approach the assessment.The full report, including the tasks highlighted below where studentperformance was strong and where it was weak, is available ataat.org.uk/level2supportStrong performanceWeak performanceThe task which students haveperformed strongest in is task 11– Sustainability initiatives and theresultant benefits.The task which studentshave found most challengingis task 6 – Numeracy.Sustainability covers threebroad areas, environmental,social and economic. Studentperformance over the whole taskis analysed as being the best inthe whole assessment.The task assesses the student’sgeneric numeracy skills and isrestricted to add, subtract, multiply,divide, and calculate averages,percentages, fractions, ratiosand proportions. Many studentsfind this task challenging andthis is the task with the poorestperformance statistics across thewhole of the assessment.Have you read the Working effectively in accountingand finance Assessment performance report?This is available at aat.org.uk/level2support11

Processing bookkeeping transactions(PBKT)Overview of unit Understanding the double-entrybookkeeping system.Understanding discounts andsettlement, trade and bulkdiscount differences.Preparing and processing customerand supplier invoices and credit notes.Totalling and balancing a three-columnanalysed cash book.Totalling, balancing and reconcilingpetty cash records within an analysedpetty cash book.Processing ledger transactions andextracting a trial balance.Study support categoryGuidance and standards3Mapping document1E-learning3Green Light test1Study support webinar3Performance feedback2Sample assessment8ChecklistUse the checklist below to ensure you have accessed all of the supportmaterials available for Processing bookkeeping transactions.Processing bookkeeping transactions study supportStandards: unit specificationGuidanceMapping documentWriting up sales and purchases day books e-learning modulePosting from sales and sales returns day books e-learning modulePosting from purchases and purchases returns day book e-learning moduleGreen Light testWebinar recording and supporting notesAssessment performance reportsSample assessment (questions 1)Sample assessment answers (questions 1)Sample assessment (questions 2)Sample assessment answers (questions 2)12To access these study support materials, visit aat.org.uk/level2support