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Accounting: Foundation Level 2 Certificate - AAT

Tuesday 18 September 2018
18:30 - 21:30
204 Hours / 34 Weeks
5 Brampton Road, Bexleyheath

Fee information. Click here for eligibility details (opens in a new window).

£950.00 Course symbols: * IA Q F2

Course description

For those with basic accounting experience who want to gain a formal qualification. The course covers a range of basic accounting practices and techniques, from costing and double-entry bookkeeping to computerised accounting. In addition to the course and examination fees included in the course costs there is an additional AAT admission fee to be confirmed which is paid by the student directly to AAT. Workbooks need to be purchased at a further cost. Course includes exam and administration costs of £251. There will be an additional 4 Saturday workshops to be arranged during the course.

Entry requirements

a) guidance needed: All students must attend the first session of this class, which will be a guidance session. At this session the tutor will discuss the course with you to ensure that it is the right course for you. b) entry requirements: Students enrolling on this course will be expected to sit an English and Maths Initial Assessment prior to being accepted onto the course. You can book your Initial Assessment online at www.tlcbexley.ac.uk. It is quick, simple and a confirmation e-mail will be sent to you. Alternatively you can call 020 3045 5176, quoting the course you are interested in and the course code, or visit one of our centres. Initial Assessment is conducted to assess that you have the correct level of English and Maths necessary for the course and where required additional support can be put in place to help you succeed. If you are unsuccessful in your Initial Assessment, guidance will be given to you regarding a more suitable course.

What you will learn

The course is made up of a number of units including Booking Transaction Bookkeeping Controls Elements of Costing Using Accounting Software (using SAGE 2016) A further unit Work Effectively in Finance is covered as part of the final synoptic test.

How you will learn on this course

Demonstration, discussion and explanation from the tutor, group interaction with tutor and peers. Learners will receive instruction sheets, handouts, practice exercises and one-to-one tuition. Students will need to do reading and practice exercises outside of class independently.

How you will be assessed on this course

Unit 1 Bookkeeping Transactions 1. Understand financial transactions within a bookkeeping system 1.1 Indicate the purpose of business documents 1.2 Distinguish between prompt payment, trade and bulk discounts 1.3 Demonstrate an understanding of a coding system 1.4 Demonstrate an understanding of the process of recording financial transactions 2. Process customer transactions 2.1 Calculate invoice and credit note amounts 2.2 Enter sales invoices and credit notes into books of prime entry 2.3 Check the accuracy of receipts from customers 3. Process supplier transactions 3.1 Check the accuracy of supplier invoices and credit notes 3.2 Enter supplier invoices and credit notes into books of prime entry 3.3 Prepare payments to suppliers 4. Process receipts and payments 4.1 Enter receipts and payments into a two column analysed cash book 4.2 Enter receipts and payments into an analysed petty cash book 4.3 Total and balance the cash book and petty cash book 5. Process transactions through the ledgers to the trial balance 5.1 Transfer data from the books of prime entry to the ledgers 5.2 Total and balance ledger accounts 5.3 Extract an initial trial balance Unit 2 Bookkeeping Controls 1. Understand payment methods 1.1 Identify the appropriate use of different payment methods 1.2 Identify the effect of different payment methods on the bank balance 2. Understand controls in a bookkeeping system 2.1 Identify the purpose of control accounts 2.2 Identify the purpose of reconciliation 2.3 Identify the purpose of the journal 3. Use control accounts 3.1 Produce control accounts 3.2 Reconcile control accounts 4. Use the journal 4.1 Produce journal entries to record accounting transactions 4.2 Produce journal entries to correct errors not disclosed by the trial balance 4.3 Produce journal entries to correct errors disclosed by the trial balance 4.4 Use journal entries to make adjustments in the ledger accounts 4.5 Redraft the trial balance following adjustments 5. Reconcile a bank statement with the cash book 5.1 Locate differences between items on the bank statement and entries in the cash book 5.2 Use the bank statement to update the cash book 5.3 Produce a bank reconciliation statement Unit 3 Elements of Costing 1. Understand the cost recording system within an organisation 1.1 Recognise how costs are collected and classified in different types of organisation 1.2 Recognise common costing techniques used in an organisation 1.3 Identify the relationship between the costing and financial accounting systems within an organisation 1.4 Identify sources of information about income and expenditure 1.5 Distinguish between cost, profit and investment centres 1.6 Identify how materials, labour and overheads are classified and recorded 2. Use cost recording techniques 2.1 Calculate cost of inventory issues and inventory valuations 2.2 Calculate labour payments 2.3 Calculate overhead absorption rates 2.4 Use cost behaviour to calculate total and unit costs 2.5 Calculate the direct cost of a product 3. Provide information on actual and budgeted costs and income 3.1 Compare actual and budgeted costs and income 3.2 Apply exception reporting to identify significant variances Unit 4 Using Accounting Software 1. Set up accounting software 1.1 Enter information relating to the organisation at the beginning of an accounting period 1.2 Set up customer accounts 1.3 Set up supplier accounts 2. Process sales and purchases transactions 2.1 Process sales invoices and credit notes 2.2 Allocate receipts from customers 2.3 Process purchase invoices and credit notes 2.4 Allocate payments to suppliers 3. Process bank and cash transactions 3.1 Process receipts and payments for non-credit transactions 3.2 Process recurring receipts and payments 3.3 Process petty cash receipts and payments 4. Perform period end routine tasks 4.1 Process journals 4.2 Reconcile the bank statement 5. Produce reports 5.1 Produce routine reports for customers and suppliers 5.2 Produce routine reports from the general ledger Unit 5 Work Effectively in Finance 1. Understand the finance function within an organisation 1.1 Identify the role of the finance function 1.2 Demonstrate an understanding of how finance staff contribute to an organisation’s success 1.3 Indicate the role of information in the work of the finance function 1.4 Identify the importance of data security 2. Use personal skills development in finance 2.1 Identify the interpersonal skills required by finance staff 2.2 Identify the features of an effective finance team 2.3 Identify development needs 3. Produce work effectively 3.1 Produce accurate work in appropriate formats 3.2 Communicate information effectively 3.3 Plan workload to meet the needs of the organisation 4. Understand corporate social responsibility (CSR), ethics and sustainability within organisations 4.1 Demonstrate an understanding of corporate social responsibility (CSR) 4.2 Identify how finance staff can support ethical business practices 4.3 Establish the features and benefits of sustainable business practices

Qualification and exam information (only for courses leading to a qualification)

There are 4 computer based subject assessments plus a final synoptic test covering all 5 subject areas. 3 individual assessments are computer marked (CM) while the fourth and synoptic test are computer and manually marked (MM) • Processing bookkeeping transactions – computer marked (CM) • Control accounts, journals and the banking system - CM • Basic Costing - CM • Computerised Accounting C & MM Final synoptic assessment (CM) Fees for exams are included in the course fee but any resits will be charged at £65+ per resit (figures as based on 2017/18). Grading Students will be awarded an overall qualification grade Distinction, Merit or Pass. The raw marks of each assessment will be converted into a percentage mark and rounded up or down to the nearest whole number. This percentage mark is then weighted according to the weighting of the unit assessment or synoptic assessment within the qualification. The resulting weighted assessment percentages are combined to arrive at a percentage mark for the whole qualification. This will be explained by the tutor during the guidance session. Costs: Fees for exams are included in the course fee but any resits will be charged at £65+ per resit. In addition to the course and examination fees there is an AAT admission fee of £43.00 for new members and Student membership fee of £92.00 which you must pay directly to AAT. Fees are subject to increase as from Sept 2018

What you will be expected to do outside your lesson time

At least four to six hours per week reading/practical exercises required

What you need for your course

Workbooks for the course need to be purchased at a discounted cost of approximately £100.00. Tutor will advise at first session.

What you need to bring to the first class

Pen, pencil, calculator, notepaper

What you can do next

AAT Advanced Diploma in Accounting Level 3

Additional information

At the beginning of the course, you will have an induction to the College and the course. Your tutor will ask you to complete an Individual Learning Plan (ILP) and agree your personal learning goals. All documents are a requirement of the Funding Agency, who expect that learners who enrol on a course leading to a qualification will take that qualification at the College. All students on courses funded by the ESFA must complete a Learning Agreement and ILP.

Venue information

5 Brampton Road, Bexleyheath, Kent DA7 4EZ Nearest Train Station: Bexleyheath. Buses: 89, 96, B16, B15, B14, B12, 422 Car park available onsite. Please note car parking spaces cannot be guaranteed. For further details of parking please refer to https://www.bexley.gov.uk/services/parking