AAT Level 4 Professional Diploma in Accounting

Covers accounting budgetary process, including reporting success and concerns, and critical evaluation.

• Understand and implement the organisational planning process
• Use internal processes to enhance operational control
• Use techniques to aid short-term and long-term decision making
• Analyse and report on business performance

Covers drafting financial statements, international accounting standards, and underpinning regulatory and conceptual frameworks.

• Understand the reporting frameworks that underpin financial reporting
• Draft statutory financial statements for limited companies
• Draft consolidated financial statements
• Interpret financial statements using ratio analysis

Covers the role of the accounting function, stakeholder needs, system evaluation and improvement.

• Understand the role and responsibilities of the accounting function within an organisation
• Evaluate internal control systems
• Evaluate an organisation’s accounting system and underpinning procedures
• Understand the impact of technology on accounting systems
• Recommend improvements to an organisation’s accounting systems

Business Tax

Covers UK taxation for business, tax planning and ethical standards in accounting.

• Prepare tax computations for sole traders and partnerships
• Prepare tax computations for limited companies
• Prepare tax computations for the sale of capital assets by limited companies
• Understand administrative requirements of the UK’s tax regime
• Understand the tax implications of business disposals
• Understand tax relief, tax planning opportunities and agent’s responsibilities in reporting taxation to HM Revenue & Customs

Cash and Financial Management

Covers accounting functions such as managing cash within organisations, strategic investment and cash budgets.

• Prepare forecasts for cash receipts and payments
• Prepare cash budgets and monitor cash flows
• Understand the importance of managing finance and liquidity
• Understand the way of raising finance and investing funds
• Understand regulations and organisational policies that influence decisions in managing cash and finance

Personal Tax

Covers income tax, capital gains tax and inheritance tax and how taxpayers can legally minimise their overall taxation liability.

• Understand principles and rules that underpin taxation systems
• Calculate UK taxpayers’ total income
• Calculate Income Tax and National Insurance contributions (NICs) payable by UK taxpayers
• Calculate Capital Gains Tax payable by UK taxpayers
• Understand the principles of Inheritance Tax

Credit and Debt Management

Covers the principles of effective credit control systems, including debt management, and credit risk assessment.

• Understand relevant legislation and contract law that impacts the credit control environment
• Understand how information is used to assess credit risk and grant credit in compliance with organisational policies and procedures
• Understand the organisation’s credit control processes for managing and collecting debts
• Understand different techniques available to collect debts