AAT – Diploma in Accounting Bundle 2

The AAT bundle includes – Business Awareness, Financial Accounting: Preparing Financial Statements, Management Accounting Techniques, Tax Processes for Businesses.
The Diploma in Accounting encompasses a comprehensive range of essential and complex accounting tasks. These include maintaining cost accounting records and preparing various reports and returns. Throughout the suite of accounting qualifications, key themes such as technology, ethics, sustainability, and communication are integrated.

This bundle consists of four mandatory courses, totalling 400 guided learning hours:
  • Business Awareness
  • Financial Accounting: Preparing Financial Statements
  • Management Accounting Techniques
  • Tax Processes for Businesses
The purpose of this program is to equip you with the necessary skills and knowledge to pursue careers in business, finance, or professional accountancy, or to advance into further education. You will learn and develop skills essential for financial processes, including accounting principles and concepts, advanced bookkeeping, and the preparation of financial statements. Additionally, you will gain an understanding of the business environment, the technology used in finance and accounting, payroll and VAT (which may have different names in other countries), management accounting techniques, ethical principles, and sustainability considerations for accountants.

You will develop a comprehensive understanding of business structures and purposes and appreciate the broader business environment. You will acquire skills to support complex financial processes, such as preparing final accounts, reports, and returns, utilizing technology to provide management accounting information, and completing VAT returns.

You are expected to take responsibility for initiating and completing tasks and procedures, exercising autonomy and judgment within defined parameters, and recognizing different perspectives or approaches within a study or work area. You will also need to analyze and use various data and information about a business to visualize and communicate key information necessary for business decision-making.

Topics Covered

Business Awareness
  • The types of businesses
  • The legal framework for companies and partnerships
  • Business stakeholders’ interactions and needs
  • Organisational structure and governance
  • The use of PESTLE model for analysing the external environment
  • The micro-economic environment
  • The importance of sustainability
  • The relevance of the ethical code for professional accountants
  • Ethical conflicts and reporting unethical behaviour
  • Technology
  • Data protection, information-security and cybersecurity
  • Information requirements in a business organisation
  • Visualising information
  • Communicating information
Financial Accounting: Preparing Financial Statements
  • The primary users of final accounts
  • The framework of accounting underlying the preparation of final accounts
  • Qualities of useful financial information
  • Use of the accounting equation
  • Classification of ledger accounts
  • Purpose and use of books of prime entry and ledger accounting
  • Carry out financial period end routines
  • Importance of prior authority for capital expenditure
  • The importance of classifying expenditure into capital or revenue expenditure
  • Record acquisitions and disposals of non-current assets
  • Calculate depreciation
  • Record depreciation
  • Record accruals and prepayments of income and expenditure
  • Record irrecoverable debts and allowances for doubtful receivables
  • Record inventory
  • Considerations for recording period end adjustments
  • Prepare an initial trial balance
  • Prepare an adjusted trial balance
  • Complete the extended trial balance (ETB)
  • Prepare financial statements for sole traders
  • Opening and closing capital for sole traders
  • Produce the SPL for partnerships
  • Produce the SFP for partnerships
  • Calculate profitability ratios
  • The interpretation of profitability ratios
  • Identify missing figures
  • Mark-up and margin
  • Reasonableness of figures when information is incomplete
Management Accounting Techniques
  • Internal reporting calculations
  • Differences between marginal and absorption costing
  • Record and calculate materials, labour and overhead costs
  • Prepare cost accounting journals
  • Apply inventory control methods
  • Apply inventory control methods
  • Differences between costing systems
  • Calculate and attribute overhead costs using traditional methods
  • Calculate overhead recovery rates using traditional methods
  • Calculate overhead recovery rates using activity-based costing
  • Under- or over-recovery of overheads
  • Principles of standard prices/costs and budgeting
  • Calculate variances
  • Analyse and investigate variances
  • Organise, record and format data
  • Use tools to manipulate, analyse and verify data
  • Use tools to prepare, protect and present accounting information
  • Estimate and use short-term future revenue and costs
  • Examine the effects of changing activity levels
  • Principles of cash budgeting
  • Improving cash flow
Tax Processes for Businesses
  • UK tax law principles relating to VAT
  • VAT registration and deregistration requirements
  • Filing and payment of VAT returns
  • Special schemes
  • Implications for non-compliance with VAT regulations
  • Extracting relevant data from accounting records
  • VAT invoices
  • VAT calculations
  • Make adjustments for errors or omissions in VAT returns
  • Verify information contained within VAT returns
  • Employer responsibilities of payroll
  • Operating payroll
  • Communicating information on VAT and payroll related matters
  • Legislation, regulation, guidance and codes of practice

Learning Outcomes

On successful completion of this subject, you should be able to:

  • Understand business types, structures and governance, and the legal framework in which they operate
  • Understand the impact of the external and internal environment on businesses, their performance and decisions
  • Understand how businesses and accountants comply with principles of professional ethics
  • Understand the impact of new technologies in accounting and the risks associated with data security
  • Communicate information to stakeholders
  • Understand the accounting principles underlying final accounts preparation
  • Understand the principles of advanced double-entry bookkeeping
  • Implement procedures for the acquisition and disposal of non-current assets
  • Prepare and record depreciation calculations
  • Record period-end adjustments
  • Produce and extend the trial balance
  • Produce financial statements for sole traders and partnerships
  • Interpret financial statements using profitability ratios
  • Prepare accounting records from incomplete information
  • Understand the purpose and use of management accounting within organisations
  • Use techniques required for dealing with costs
  • Attribute costs according to organisational requirements
  • Investigate deviations from budgets
  • Use spreadsheet techniques to provide management accounting information
  • Use management accounting techniques to support short-term decision making
  • Understand principles of cash management
  • Understand legislation requirements relating to VAT
  • Calculate VAT
  • Review and verify VAT returns
  • Understand principles of payroll
  • Report information within the organisation

Target Audience

The AAT qualification is ideal for people who want a career in finance and business.

Exam Details

  • Format: Computer-based assessment
  • Availability: On Demand
  • Pass: A score of 70%
  • Length: 2 hours and 30 minutes per course
  • Please Note: Official Exam is not provided; it should be purchased separately.

What’s Included

  • Study planner and guidance
  • Access to AccountingWise Learn
  • Comprehensive pre-recorded lectures
  • Extensive question practice (including mock exams and feedback)
  • Tutor support via phone or email

Registration and Access

Once you complete an online purchase you will receive confirmation of account activation. Please allow 48 hours to get access to all the modules and for your eLearning account to be set up.

If you wish to receive an invoice instead of paying online, please contact us at info@eimf.eu. Access to the course is valid for 6 months.

Course Access Duration

Enjoy 6 months of unlimited access to all course materials, including videos, assignments, and resources. This period is designed to provide ample time for you to fully engage with and complete the course at your own pace.

Extension Options

Need more time? Extend your access with:

  • 3-Month Extension: €50 + VAT
  • 6-Month Extension: €90 + VAT

To arrange an extension, contact us at info@eimf.eu. Our support team is here to help.

Certification

Upon the successful completion of the AAT Diploma in Accounting Level you can proceed to the next level, the Diploma in Professional Accounting.

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