AAT stage 1 covers ideas comparable to bookkeeping, finance, administration and accounting. Nonetheless, AAT Stage 2 is far more concerned. It consists of 5 modules:

Bookkeeping: All features of economic accounting are coated on this module. This contains getting ready financial institution statements, funds planning and getting ready payroll. Utilizing accounting software program, you’ll study all the items, one step at a time, after which sit for an examination on the finish of the module aat level 2.

Finance: You’ll examine monetary statements, funding methods, company finance, credit score and debit accounts. An outline of earnings taxes and capital positive factors taxes can also be coated right here. You will have to arrange and submit monetary statements and tax returns on your firm yearly. Additionally, you will want to find out the corporate’s capital necessities.

Costing: Bookkeeping is just not sufficient. You should know calculate the price of items bought, stock prices, labour prices, overhead prices and the quantity of stock that should be bought to cowl your prices. With accounting software program you’ll full these duties utilizing mathematical formulation after which report your outcomes to your boss or CFO aat training.

Tax: If you’re employed by an organization that has its personal enterprise, you could have to get a CITB (Certificates of Eligibility) from the Division of Income with the intention to receives a commission tax. As well as, you could want to finish an earnings tax return if your organization has its personal workers and pays them an earnings tax. Accounting software program will enable you with tax submitting.

The modules in AAT Stage 2 cowl all of those topics and extra. These modules shouldn’t be taken in isolation. They need to be used along side one another to make sure that you grow to be proficient within the accounting ideas you may have realized and are aware of earlier than going into an organization’s enterprise.