AAT AQ2016 New Syllabus

All you need to know

The AAT have announced the launch of their new syllabus AQ 2016 from 1 September 2016.

There are four main changes in the new syllabus (AQ2016):

· The names of the levels and units have changed.

· There will be a synoptic assessment at the end of each level. A synoptic assessment is an exam that will cover the whole syllabus of a level. Level 2 synoptic exams will be available most weeks, Levels 3 & 4 synoptic exams will only be available 4-5 times a year.

· Each level will now be graded, your final grade will either be Pass, Merit or Distinction.

· The new syllabus will limit the number of times you can resit an exam at levels 2 and 3. You will be allowed to attempt each unit assessment twice within 12 months. If you are unsuccessful on both attempts you will need to wait until the next 12 month assessment period opens before resitting.

Level 2AQ2010 - Introductory Certificate in Accounting AQ2016 – Foundation Certificate in Accounting

Unit Name Unit Name

Processing Bookkeeping Transactions Bookkeeping Transaction

Control Accounts, Journals and the Banking Systems Bookkeeping Controls

Basic Costing Elements of Costing

Computerised Accounting Using Accounting Software

Work Effectively in Accounting & Finance Work Effectively in Finance

Synoptic Assessment

Level 2 Name Changes

Level 3Intermediate Diploma in Accounting Advanced Diploma in Accounting

AQ2010 Unit Name AQ2016 Unit Name

Accounts Preparation Advanced Bookkeeping

Prepare Final Accounts for Sole Traders and Partnerships Final Accounts Preparation

Costs & Revenues Management Accounting: Costing

Indirect Tax Indirect Tax

Professional Ethics Ethics For Accountants

Spreadsheets Spreadsheets for Accounting

Synoptic Assessment

Level 3 Name Changes

Level 4Advanced Diploma in Accounting Professional Diploma in Accounting

AQ2010 Unit Name AQ2016 Unit Name

Budgeting Management Accounting: Budgeting

Financial Performance Management Accounting: Decision and Control

Financial Statements Financial Statements of Limited Companies

Internal Controls and Accounting Systems Accounting Systems and Controls

External Auditing (optional unit) External Auditing (optional unit)

Business Tax (optional unit) Business Tax (optional unit)

Personal Tax (optional unit) Personal Tax (optional unit)

Credit Control (optional unit) Credit Management (optional unit)

Cash Management (optional unit) Cash and Treasury Management (optional unit)

Synoptic Assessment

Level 4 Name Changes

Level 2 Foundation Certificate in Accounting

Bookkeeping Transaction

Bookkeeping Controls

Elements of Costing

Work Effectively in Finance

Using Accounting Software

Unit Assessment

Unit Assessment

Unit Assessment

Unit Assessment

Synoptic Assessment

Level 2 Foundation Certificate in Accounting Each assessment counts towards the overall grade of the level

Bookkeeping Transactions 22%

Bookkeeping Controls 16%

Elements of Costing 16%

Using Accounting Software 16%

Synoptic Assessment 30%

Level 3 Advanced Diploma in Accounting

Advanced Bookkeeping

Final Accounts Preparation

Management Accounting:

CostingIndirect Tax

Ethics for Accountants

Unit Assessment

Unit Assessment

Unit Assessment

Unit Assessment

SynopticAssessment

Spreadsheets for

Accountants

Level 3Diploma in AccountingEach assessment counts towards the overall grade of the level

Advanced Bookkeeping 20%

Final Accounts Preparation 15%

Management Accounting: Costing 20%

Indirect Tax 10%

Synoptic Assessment 35%

Level 4 Professional Diploma In Accounting

Financial Statements of

Limited Companies

Management Accounting: Budgeting

Management Accounting: Decision and

Control

Accounting Systems and

Controls

Unit Assessment

Unit Assessment

Unit Assessment

Synoptic Assessment

Business Tax

Personal Tax

Credit Management

External Auditing

Cash and Treasury Management

Students must also complete two of the optional units below and their

associated Unit Assessment

Level 4Diploma in Accounting Each assessment counts towards the overall grade of the level

Financial Statements of Limited Companies

15%

Management Accounting: Budgeting

15%

Management Accounting: Decision and Control

15%

Optional Unit 1 10%

Optional Unit 2 10%

Synoptic Assessment 35%

Synoptic assessments

The synoptic assessment is a new element within the AQ2016 accounting qualifications. Under AQ2016 you need to complete a new synoptic assessment before moving on to your next level. A synoptic assessment tests the knowledge you have gained throughout the level, covering multiple (but not all) topics.It has been introduced to demonstrate your knowledge of core accountancy skills, your ability to apply them in the workplace.

The duration of the synoptic assessment will vary depending on the qualification:

• Foundation synoptic assessment: 2 hours.• Advanced synoptic assessment: 3 hours.• Professional synoptic assessment: 3 hours.

Each qualification has one synoptic assessment, which should be sat at the end of your qualification when all the associated learning has taken place.

Unit assessments will still be available on demand, but synoptic assessments will be restricted to fixed assessment sittings.

Grade

Pass

Merit

Distinction

Percentage

70 – 79

80 – 89

90 - 100

Each level will now be graded, this will be determined by the percentage you have achieved in each unit assessment and the synoptic assessment. Your final grade will either be Pass, Merit or Distinction.

New students

Do not wait until 1 September 2016 to start your AAT studies, get started straight away by registering for the current AQ2013 syllabus. You may then be mid level when the new syllabus launches.

You will be able to follow the advice above and either:

• Continue your current level under AQ2013 and you will have until 31 December 2017 to complete it.

• Or finish your level under AQ2016 (remember to speak to your tutor or training provider to decide which units you should study and when).

If you are an existing AAT student what are your options?

If you are currently studying AAT you will need to think about how this syllabus change will affect you.

You may need to make a decision about when you will begin studying the new AQ2016 syllabus.

• Stay on AQ2013 to complete your current level and your next level.• Stay on AQ2013 to complete your current level and start your next level on the new syllabus.• Transfer to AQ2016 to complete your current level.

Stay on AQ2013 to complete your current level and your next level

You can still carry on studying AQ2013 syllabus up until 31st December 2017. However, any new level started after 1st September 2016 will automatically be AQ2016.

If you would like to stay on AQ2013 for your current level and your next level you should:

• Finish your current level before 31 August 2016. • Immediately registering for your next level. Completing a level will automatically register you for the next

level but you should contact the AAT to ensure you are registered for your next level under AQ2013. This must be done before 1st September 2016 as from this date a new registration at a level with be for the new syllabus.

• You will then have until 31st December 2017 to complete that next level. • When booking your assessment make sure your assessment centre knows your exam is to be AQ2013!

Stay on AQ2013 to complete your current level and start your next level on the new syllabus

You will have until 31 December 2017 to complete your current level under the new syllabus. If you complete this after 1 September 2016 you will be automatically registered for the next level for the new syllabus.

• Make sure you book your current level exams under AQ2013 (you will need to mention this when booking in to your assessment centre).

• Complete your current level by 31 December 2017.

Transfer to AQ2016 to complete your current level

If you are part way through a level at the end of August 2016 you can choose to complete the level under the current syllabus or transfer to AQ2016. If you transfer to AQ2016 remember that some units will not transfer across from AQ2013 to AQ2016. You will also be required to sit the synoptic assessment for that level.

• Continue to work through your assessments under the current syllabus until 31 August 2016 and then any assessments after this date can be taken under AQ2016.

• Speak to your tutor/training provider to decide which order to complete the units at your current level (you do not want to complete an assessment for a unit which does not transfer across).

• Review the detail of the new syllabus and the new synoptic assessment to ensure you understand the impact the changes will have on your studies should you choose to transfer to the new syllabus.

Please contact your tutor with any queries you have regarding the new syllabus or visit aat.org.uk/2016update for more information or use their recommendation tool to see when AAT suggest you move onto the new syllabus.