to summarize aat accounting

shaunjubbshaunjubb Feels At HomePosts: 25Registered
im creating a file to summarize AAT and i have decided on 10 chapters

can you guys help me find the 10 most relative / suitable headings to summarize ?

i was thinking of some :

income statement
statement of financial position
business tax
cashslow statement
management accounting section



etc. etc.

i thought id leave out the foundation and most intermediate units but if you can give me a list 1-10 id appreciate the help

thanks

Comments

  • EsmeEsme Experienced Mentor Posts: 711Registered
    Is this file for your own reference?

    If it's sumarising AAT why are you leaving out foundation and most of intermediate? You should have one on double entry as that is the basis of most of AAT.
  • shaunjubbshaunjubb Feels At Home Posts: 25Registered
    yes it's for my own reference, i would like some suggestions what you think the most useful 10 points could be
  • RinskeRinske Font Of All Knowledge Posts: 2,453Registered
    Maybe some ratios and their uses?
    Maybe separate management accounting into budgets setting and calculating variances afterwards? Although PEV and PCR are quite similar.
    Incomplete records might also be worth noting, as it is a nice and easy subject to see if you really understand the accounting bits that take place and where to record what.

    I'm assuming you included the statement of equity (or what it is called) is included in the income statement and that you didn't do PTC or auditing, otherwise I would include those as well.

    I'm also assuming you like to make a summary, so that when you want to look back during the ACA/ ACCA studies (not sure which you did), you got it at hand?
  • shaunjubbshaunjubb Feels At Home Posts: 25Registered
    statement of equity , do you mean cashflow statement or something else ? and yes you're right thats exactly why i want to make this summary. it would be perfect to look back on rather than look through like 12 + files.
    i was also of thinking of making a file for international accounting standards

    i think that ratios are a good idea aswell. so what would be your top 10 most relative headers for AAT ? just so i can try and put mine together ;p
  • RinskeRinske Font Of All Knowledge Posts: 2,453Registered
    I think DFS and FRA are a big part of it, but I would split it up, like you did. I would make a booklet for the rules and such, but all of those would need updating when things change, just like the tax rules.

    At least with management accounts you don't deal with any rules, to make it easier.

    I think for now:

    1. Setting a budget
    2. Calculating variances
    3. Ratios with explanations
    4. Statement of financial position (both limited companies and partnerships/ sole traders)
    5. Income Statement (including the equity at the bottom)
    6. Consolidated accounts
    7. Statement of Cash flow as required for limited companies
    8. Statement of Cash flow as used in management accounts
    9. Incomplete records (includes double entry)
    10. Auditing for me (as I went for auditing instead of the tax unit)

    I'm not sure if I would make a separate one for the extended trial balance, as I think that is also included in the statement of financial position and income statement, so I think this would cover it mostly for me. Not sure if consolidated accounts would need a separate chapter or can be incorporated with the others, as I haven't done the chapter yet!
  • anniemanniem Experienced Mentor Pewsey, WiltshirePosts: 1,325Registered
    I don't understand why you feel it has to be 10 chapters.

    Surely it's going to be as long or short as it needs to be???
    FMAAT - AAT Licensed Member in Practice - Pewsey, Wiltshire
  • shaunjubbshaunjubb Feels At Home Posts: 25Registered
    Rinske - thanks for input. i will be taking all into consideration
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