AAT Level 4 Diploma in Professional Accounting

You will undertake the following units:

Drafting and Interpreting Financial Statements

This unit provides the skills and knowledge for drafting the financial statements of single limited companies and consolidated financial statements for groups of companies. You will have a proficient level of knowledge and understanding of international accounting standards, which will then be applied when drafting the financial statements. You will also gain a sound appreciation of the regulatory and conceptual frameworks that underpin the preparation of limited company financial statements.

• The external reporting environment for limited companies and groups which need to publish accounts.
• Principles of consolidated accounts, and analysis and interpretation of financial statements.
• Preparing a range of financial statements and identifying an organisation’s financial position.

Applied Management Accounting

This unit focusses on the three fundamental areas of management accounting: planning, control and decision making.  This unit will allow understanding of how the budgetary process is undertaken. You will be able to construct budgets and then identify and report both on areas of success and on areas that should be of concern to key stakeholders. You will also gain the skills required to critically evaluate organisational performance, and have an understanding of the methods used to deal with the issues surrounding both short-term and long-term decision making.

• How and why budgets are prepared, helping you prepare revenue forecasts and a range of budgets for different circumstances.
• Understanding budgetary procedure to aid organisational planning and control.
• Preparing budgets, analysing variances and making recommendations for improving organisational performance.
• Managing and measuring financial performance; the range of techniques for analysing information on expenditure and making judgements to support decision making, planning and control by managers.
• Collecting and analysing information, monitoring performance and presenting reports to management.

Internal Accounting Systems and Controls

The unit covers the role and responsibilities of the accounting function, including the needs of key stakeholders who use financial reports to make decisions. Students will review accounting systems to identify weaknesses and will make recommendations to mitigate identified weaknesses in future operations. You will apply several analytical methods to evaluate the implications of any changes to operating procedures. Technology is changing the way that accountancy information is processed, and this unit requires knowledge of the fundamental principles of data analytics and artificial intelligence (AI), which may be used as an alternative way to gather and analyse information. Cloud accounting is changing the way accountants work and visualisation, including dashboards, is increasingly used to present information in a way that is easier for stakeholders to understand. Data security and breaches are regularly reported in the press, and therefore it is imperative that you are aware of the importance of keeping all data secure and consider the confidential nature of the data that they will be processing as part of their everyday role.

• Identifying the role of internal control within an organisation and recognising different approaches to making informed recommendations on how to implement or improve systems.
• Communicating this to management and identifying the impact that changes would have on the system and its users.

Personal Tax

This unit provides the fundamental knowledge of the three most common taxes that affect taxpayers in the United Kingdom (UK): income tax, capital gains tax and inheritance tax. With this knowledge, you will be equipped to prepare not only the computational aspects where appropriate of these taxes, but also appreciate how taxpayers can legally minimise their overall taxation liability. You will also study capital gains tax and inheritance tax. The fundamental principles of these taxes will be covered so that you can appreciate how they may affect UK taxpayers.

• How Income Tax and Capital Gains Tax is applied to income.
• Calculating Income Tax liabilities and income from all sources.
• Applying relevant allowances, deductions and reliefs to prepare accurate Income Tax computations.

Business Tax

This unit introduces UK taxation relevant to businesses. You will understand how to compute business taxes for sole traders, partnerships and limited companies. You will also be able to identify tax planning opportunities while understanding the importance of maintaining ethical standards.  You will gain the skills required to apply the tax treatment of capital expenditure and the adjustment of accounting profits for tax purposes. You will allocate profits to tax years for ongoing businesses as well as in opening and closing years. In addition, you will allocate profits between partners in a partnership and will calculate National Insurance (NI) contributions for the self-employed, advising clients on the tax implications of making losses.

• Preparing tax returns for sole traders, partnerships and incorporated businesses.
• Recognise trading profits, make adjustments and apply current relevant legislation.

In addition to your classroom/online learning, you should aim to study for approximately eight hours per week.

You will undertake five computer-based exams. As we are an AAT accredited exam centre, these exams can be taken at college without the need to travel to an external exam centre.

Classroom Attendance
Classroom lessons are held at our training centre in Godmanchester, just outside of Huntingdon in Cambridgeshire, and can be started throughout the year. You can choose between the following two options:

• Tuesdays from 9:15am-1pm
• Mondays from 5:30-8:30pm

Online learning
Our online, distance learning courses can be started at any time. You will work through your online course materials at a time that is convenient to you and be supported by a personal tutor.

You must be competent in complex double-entry bookkeeping and have achieved the AAT Level 3 Diploma in Accounting.

As our courses include online learning components, students are required to have access to a PC or laptop with a reliable internet connection.

Course Fees
£3,088

Awarding Body Fees
All students or employers are required to pay the following awarding body fees in addition to the course fees. Please note that these are recharged at cost and may be subject to change.

• AAT membership
• AAT Exam fees (approximately £564)
• Textbooks (approximately £33 per unit)

Please note, if you have previously undertaken some level 4 AAT units, it is possible to take individual units at a cost of £700 per unit plus any relevant awarding body fees.

CAW Loans2Learn
Course fees must be paid in full before the course begins. If you are unable to do so, we offer a personal loan scheme (Loans2Learn) that can help you to spread the cost into manageable monthly payments over a period of up to five years, subject to eligibility. It can be used to fully, or partially, cover your course fee (but does not cover any awarding body fees, such as enrolment and examination fees which are payable on top). More information can be found here.

The current rate of interest for a CAW Loans2Learn is 9%. Click on the calculator icon to calculate your monthly repayment options based on different repayment term lengths.

Example repayment - a Loans2Learn loan for the full course fee of £3,088 over 36 months would equate to monthly repayments of approximately £99 per month (please note this is an indicative price based on current fees and interest rates).

General Advice
Sources of financial help can be found on our student finance page. Before making any financial decision it is recommended that you seek advice from an independent source, for example the Money Advice Service.

If you have not achieved your qualification by the planned end date detailed in your individual learning plan, continued support and course access is available by paying monthly direct debit payments, or applying for a supplementary or increased loan, until certification is achieved.

These are current figures and may be subject to change. The differences in course fees reflect the level of funding that is available as a result of government policies and priorities. These may be as a result of age, employment status, previous education achievements, or location for example, and are outside the control of CAW Business School (The College of Animal Welfare).

This course is eligible for the Ministry of Defence Enhanced Learning Credits (ELC) Funding. Read more here.

After completing the AAT Level 4 Diploma in Professional Accounting qualification, you will be able to apply to become an AAT full member and use the letters MAAT after your name. You’ll enjoy elevated professional credibility and status, increasing your opportunities for career progression and fulfilling your salary expectations.

The Level 4 AAT qualification will allow you to work in a variety of roles, such as:

• Senior Finance Officer
• Assistant Financial Accountant
• Payroll Manager

No, there is no requirement to already be working in a finance role. In fact, many students undertake AAT courses to change career, or enhance their CV ahead of applying for job in finance/accounting.

Whether you are planning on attending college for classroom-based lessons or looking to study via online, distance learning, there’s no need to wait as you can enrol to start at any time.

Once you are enrolled and ready to start you will work through the online course materials in your own time. You will be allocated a tutor as a point of contact to support you through the course.

No, as a private further education provider fees are applicable to all students. We do have a Loans2Learn scheme that can help you to spread the costs of study into manageable monthly payments.

Yes, many of our students who are employed in a finance job choose to undertake this qualification as part of the AAT Level 4 Apprenticeship Professional Accounting Technician.