AAT is the known as Association of Accounting Technicians, a significant accounting organisation in the United Kingdom. It has over 120,000 members and is present in over 90 countries.
Foundation Certificate, Advanced Diploma, and Professional Diploma are the three accounting credentials that make up the AAT. The AAT certification is designed to provide students with the skills and information needed to work as an accountant in any organisation. It also contains short courses that educate students on keeping track of their finances.
The following are some examples of short courses in bookkeeping:
- Foundation Certificate in Bookkeeping
- Advanced Bookkeeping Certificate
- Professional diploma in bookkeeping
AAT level 2
The AAT Foundation Certificate assists students in gaining a comprehensive understanding of basic accounting principles. These skills include trial balance preparation, costing, accountancy software, and double-entry bookkeeping. Students who complete this certification programme may be qualified to work as a payroll administrator, financial assistant, payment clerk, or accounts officer. This AAT qualification typically takes six to twelve months to complete.
AAT level 3
The Advanced Diploma certificate allows students to expand on their Foundation Certificate expertise. Students will already be familiar with critical and complicated accounting techniques, advanced bookkeeping, financial processes and procedures, and accountants’ ethical duties and practise, including final account preparation. Typically, this AAT certification takes six to twelve months to complete.
AAT level 4
Students who complete the AAT Professional Diploma gain skills and expertise in sophisticated accounting topics.
Taxation, accounting systems, financial statement preparation, managerial accounting, and budgeting are covered in the course. Tax managers, financial analysts, accountancy consultants, and forensic accountants are among the jobs available to AAT Professional Diploma holders. This AAT certification might take anywhere from 12 to 18 months to complete.
What is ACCA qualification?
ACCA is a worldwide recognised accountancy organisation with over 208,000 certified members in 52 countries.
The ACCA qualification prepares students to work as certified accountants with a wide grasp of modern accounting practices, standards, and tools. Professionals with an ACCA qualification are recognised worldwide, making it simpler for them to work with top accounting firms and other organisations.
The 14 exams included in the ACCA course are divided into four groups and three levels. The following modules will be studied by students that enrol in the ACCA programme:
The ACCA Knowledge Level is the ACCA’s Introductory Level, which is academically equivalent to Level 4 AAT. Three papers cover accounting fundamentals and establish the groundwork for continued study at higher levels. These examinations are available on demand.
The ACCA Skills Level builds on the basics. It includes six papers covering key areas that a professional accountant needs to know, such as accounting, tax, law, audit, and financial accounting. These are taken in one of four sittings during the year, with a student typically taking one paper each sitting.
The ACCA Essentials Level is the first of two examinations in the Professional Level and covers the essential topics of strategy and corporate reporting. The sort of exam at this level necessitates a deeper degree of response, including analysis and assessment. These tests are given in one of four sittings during the year.
Four papers are included in the ACCA Options*, which build on information gained at the skills level. You must pick two articles based on your academic interests and future job goals.
- AAT qualification
- AAT certification
- ACCA qualification
- AAT courses
What are the differences between them?
The AAT is a lower-level qualification that prepares students for careers in the accounting field. It implies that you will study all of the details required to conduct accounting duties such as bookkeeping, financial statement preparation, tax management, and more during the qualification. It is why businesses are generally eager to hire AAT students since the skills they gain are directly related to the company’s demands.
Furthermore, the AAT tests place a strong emphasis on mastering relatively basic transactions. It means that the learner will become extremely adept in those abilities in great demand. You may opt to cease studying after completing your AAT courses because you have a highly employable accounting qualification. You might also use this certificate to acquire exemptions from other professional examinations, such as the ACCA.
ACCA is a professional accounting qualification that leads to full professional status as a Chartered Certified Accountant. As a result, the tests cover a more advanced intellectual level than the AAT. You can begin studying ACCA right after high school if you have the necessary credentials. It is also typical to start the ACCA qualification after graduating from university. If your degree is connected to the abilities required in accounting, you will be granted exemptions for parts of the papers. The ACCA is one of the most widely recognised accounting credentials globally.
As a result, we might consider the credentials complementary rather than competitive. If you have more experience, you could consider enrolling in ACCA right away. Alternatively, if you only have a basic understanding of accounting, you could choose to start using AAT courses.
What is the difference between an ACCA and an AAT qualification in accounting?
Point of departure
Your starting place will heavily influence the option you choose. Said, if you are beginning accountancy training with little or no accounting experience, the AAT certificate is a perfect start since it provides an unrivalled introduction to the skills required at a fundamental level. If you have a good study history, you may want to pursue ACCA studies right away.
Commitment
Passing the tests for both certifications takes time and effort. Having stated that, the amount of study time necessary for AAT is less than that required for ACCA. The AAT papers are simple, and if you put in the effort, you should be able to pass them with ease. When it comes to ACCA, a different degree of dedication is necessary. Individual paper pass percentages range from 30 to 45 per cent, implying that passing each test requires a significant amount of work.
Ambition
You can find yourself in a scenario requiring a basic accounting understanding to operate your firm or work in an accounting position. In this case, the AAT qualification is ideal, and as previously said, it is highly sought after by businesses.
Conclusion:
You may want to learn the fundamentals of accounting so that you may work in an entry-level or mid-level accounting position or even start your firm. If that’s the case, the AAT certification is probably your best shot for a successful career, as it provides you with the core abilities you’ll need and is highly sought after by companies. However, if you want to progress into senior management or become a Chartered Accountant, you’ll almost certainly require a higher, more professional level of certification, such as the ACCA. To summarise, you will not be disappointed whether you choose to pursue an AAT or an ACCA certificate! It’s all about where you want to go in your professional life.
