AATL7

Course description

LEVEL 3 AAT DIPLOMA IN ACCOUNTING (SCQF 7) The Level 7 Diploma in Accounting provides students with the specialist knowledge and skills required to progress to employment in an accounting or finance role, or to further study in accountancy and finance. What you will learn: This qualification comprises four mandatory units (400 guided learning hours in total): • Business Awareness • Financial Accounting: Preparing Financial Statements • Management Accounting Techniques • Tax Processes for Businesses. Business Awareness Guided Learning Hours (GLH): 70 What is covered 1. Understand business types, structures and governance, and the legal framework in which they operate 2. Understand the impact of the external and internal environment on businesses, their performance and decisions 3. Understand how businesses and accountants comply with principles of professional ethics 4. Understand the impact of new technologies in accounting and the risks associated with data security 5. Communicate information to stakeholders Tax Processes for Businesses GLH: 60 What is covered 1. Understand legislation requirements relating to VAT 2. Calculate VAT 3. Review and verify VAT returns 4. Understand principles of payroll 5. Report information within the organisation Financial Accounting: Preparing Financial Statements GLH: 150 What is covered 1. Understand the accounting principles underlying final accounts preparation 2. Understand the principles of advanced double-entry bookkeeping 3. Implement procedures for the acquisition and disposal of non-current assets 4. Prepare and record depreciation calculations 5. Record period end adjustments 6. Produce and extend the trial balance 7. Produce financial statements for sole traders and partnerships 8. Interpret financial statements using profitability ratios 9. Prepare accounting records from incomplete information Management Accounting Techniques GLH: 120 What is covered 1. Understand the purpose and use of management accounting within organisations 2. Use techniques required for dealing with costs 3. Attribute costs according to organisational requirements 4. Investigate deviations from budgets 5. Use spreadsheet techniques to provide management accounting information 6. Use management accounting techniques to support short-term decision making 7. Understand principles of cash management Tutor Support Provided