Looking at studying AAT? We’ve got details on changes from AQ2016 and what you’ll cover if you’re going to study the AAT Q2022 syllabus.
A quick look on what you’ll cover is broken down by each AAT level below.
Level 2 Certificate in Accounting:
Introduction to Bookkeeping (ITBK) and Principles of Bookkeeping Controls (POBC):
- No major changes from existing syllabus
- Re-written to increase relevance and variety in exams
- Offers better preparation for workplace and financial accounting unit in L3
Principles of Costing (PCTN)
- Changes from AQ2016 cover the introduction of budgeting, fixed budget and associated variances
- Addition of a new learning outcome to support students with formatting and mathematical formulae for cost calculations
The Business Environment (BESY)
- New unit and the only L2 synoptic assessment
- Introduces business environments and ethics
- Introduces bookkeeping and principles of bookkeeping controls
Level 3 Diploma in Accounting
Financial Accounting: Preparing Financial Statements (FAPS)
- Sole financial accounting unit replacing Advanced Bookkeeping and Final Accounts Preparation from previous syllabus
- Content for funding of investments in non-current assets move to Management Accounting Techniques
- Units of production method of depreciation and changes in partnerships not included in this unit
- Introduces new learning outcome on calculating and interpreting profitability ratios
Management Accounting Techniques (MATS)
- Removed LIFO method content and process costing
- Also removed just-in-time, long-term investment appraisal or limiting factor decision making
- Now features high-low calculation for variable(semi) costs
- Additional focus on standard costing and budgeting
- Removed financing investments from financial accounting on AQ2016 syllabus
- Introduces learning outcome on cash management and liquidity ratios
- Testing of additional spreadsheet skills
Tax Processes for Businesses (TPFB)
- Content on VAT to remain from Indirect Tax - Making Tax Digital specifically referenced
- Additional focus on scheme impacts for small businesses
- Introduces knowledge-based learning outcome on payroll
- Q2022 assessments in 2022 will be based on FA21
Business Awareness (BUAW)
- Brand new unit for L3
- Continued focus on content from AQ2016 Ethics for Accountants content
- Streamlined focus on money laundering will also feature
- Includes law content in AQ2016 Final Accounts Preparation
Level 4 Diploma in Professional Accounting
Applied Management Accounting (AMAC)
- Merges the MABU and MDCL units from previous syllabus
- Introduction of calculations for linear programming and investment appraisal from the L3 MMAC unit
- Streamlined and selected focus on data analysis and cognitive computing
- Removes backward variance calculations content
Drafting and Interpreting Financial Statements (DAIF)
- Content remains similar to FSLC under the previous syllabus
Internal Accounting Systems and Controls (INAC)
- Features the addition of big data and the effect of tech on modern accounting systems
Optional Units:
Business Tax (BNTA)
- Removal of IR35 and R&D
- Streamlined to avoid duplication with Personal Tax content
- Introduces tax implications of business disposal
- Q22 assessments for 2022 to be based on FA21
Personal Tax (PNTA)
- No major changes
- Will focus on requirement to understand dynamics of IHT
- Requirements for IHT calculations have been withdrawn
- Introduction of new reliefs for CGT
- Q22 assessments for 2022 to be based on FA21
Audit and Assurance (AUDT)
- Also includes additional material on corporate governance and role of the audit committee
Credit and Debt Management (CRDM)
- Details to remain the same from previous syllabus
Cash and Financial Management (CSFT)
- Reduced emphasis on treasury management
- Increased detail on managing finance and liquidity
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