This September was all change at Anglia Accountancy training with the introduction of the new AAT courses – that means new course names, new syllabuses and new online computer exams! To meet these changes, AAt has fully refurbished their training centre – new smart boards and a dedicated computer suite are among their many improvements.
As for the new courses the changes have addressed many of the weaknesses of the old NVQ process and consolidated on the challenges of accounting in today’s working environment. Foundation has become Certificate Level 2, Intermediate Level 3 becomes Diploma Level 3 and Technician become Diploma Level 4. A brief introduction to what these changes actually mean follows.
Foundation becomes Certificate Level 2
The Foundation course was a solid qualification ensuring all students were fully competent in Sales, Purchase and Nominal Ledger. But its ”belt and braces” to the extensive portfolio made it an onerous process to complete. The new Certificate Level 2 maintains the qualification’s integrity covering all the same subject areas with a much more straightforward assessment approach. Computerised accounts and a business unit still remain.
Intermediate Level 3 becomes Diploma Level 3
The Intermediate Level 3 has always been rather limited in content, especially if you had already completed the Foundation element. The new Diploma Level 3 addresses these problems. VAT has now become its own separate subject, whilst Final Accounting for Sole Trader and Partnerships remains, as does the Costing paper. Spreadsheets, dropped in 2003, have been re-introduced reflecting their importance in today’s business operating environment. A Cash Management unit which is based around cash flow forecasting has also been added at this level. Finally we look at Professional Ethics which have become a major issue over the past few years with high profile problems in the business world such as Enron, the banking crisis and, of course, the MP’s expenses! With the changes, Professional Ethics has finally been consolidated into the course bringing AAT in line with all other accountancy exam boards.
Technician becomes Diploma Level 4
The new Diploma Level replaces Technician. In this case, the subject content and structure of the level has barely changed. The optional units of Credit Control and Audit have become more specialised, and the Project, the nemesis of many students, still remains.
Our team at Anglia Accountancy training looks forward to putting the new improved AAT courses into action this coming academic year. Full details of all units can be found here and we will of course be guiding students through the changes.