Starting Level 3 in Sept, new to accountancy and not done level 2 - advice please!

Bean88

Hello,

I'm due to start the level 3 diploma at a college in September. I managed to pass the AAT skill checker to get eligibilty for level 3 without the need to study level 2. I pushed for this as was told by someone that level 2 is far too easy and slow as a 1 year part time course so hopefully I've made the right decision.

Anyone have any views on this, bearing in mind I'm completely new to accounting and like I say, have not studied level 2?

My question was how should I best prepare between now and September before starting level 3? Would reading up on some of the level 2 text books be enough? How about SAGE? I understand this is included at level 2, and again, I've no experience or knowledge of this. I don't want to be in a position where I'm struggling with level 3 due to having not done the previous studies..

Any knowledge or advice would be much appreciated.

Thanks

Nps

Hello,

My advice is to buy/borrow the level 2 books and just read through them. Yes, level 2 is straightforward and a year is a long time to spend on it, but it does include the basics which you need to be comfortable with else level 3 will be a struggle.

I wouldn't worry about Sage (or the computerised accounting module), or WEAF (Working Effectively in Accounting and Finance). I didn't do either and it didn't hold me back at all. They don't tie in with any of the later modules.

Presumably you have some accounting knowledge else how did you know enough about double entry to pass the skills test? If you fluked it, then you really need to read the level 2 books.

I had no clue about accountancy when I started and I just read the level 2 books, before moving on to level 3. Lots of us have done the same so you'll be fine.

Bean88

Thanks for this, that's what I thought..well I tried the level 3 test a couple of times and only got to level 2 but tried a 3rd time and looked on a few websites for information and checked against previous wrong answers and managed to get 29/30.

So with the books, I've heard of 2 or 3 different publishers. My college said Osborne are the ones they use, would these do the job? Are there any real differences between these and other publishers?

Cheers

Nps

Just to remind myself what was on the skills test, I've just done it myself.

To pass that without any accounting knowledge, I would say you were very lucky. I also think the skills test always uses the same 30 questions so I would expect to see your score improve with each attempt and it doesn't necessarily reflect your knowledge. I really recommend you go through level 2 as you need to fully understand the theory behind those questions. It won't take you long, I promise

I always used BPP, but Osborne are also very popular. BPP does seem to go into more detail than you need, but I like that. For someone who is struggling with the content, BPP may be too technical, but I always knew I was continuing past AAT so was happy to go into more depth (search my previous posts for a useful money off code for BPP books). I speak for a number of people on here when I say that I have never seen an AAT exam question that had not been fully covered by BPP. I'm sure Osborne are also very good.

business_connex4u

If you have no idea between a debit and a credit, you will struggle. Read the Level 2 books and do the online tests. Some colleges do level 2 and 3 in the same year. You need the basics

Kelly7

Bit confused how you passed a test without any accounting knowledge. To be honest, if you don't know about debits and credits and little basic you will struggle as I found level 3 hard and I'd done level 2 but I would say to get the books for basic accounting and the level 3 costing book. You can get the books for £11 each so for £33 its not bad to get you prepared and with the costing book it can be used for both levels. Do the online tests and check as you go along so you know you're ok with it all so you will be better prepared and more confident for level 3.
Hope this helps a bit.
Kelly

ackeeandsaltfish

I would advise you make sure you understand Double Entry and have a idea of basic costing and how to draw up a trial balance and know suspense accounts WHY

When you start level 3 i am sure the tutor will not be going back over level 2.

From my experience one of the level 3 tutors did not even teach 2 subjects on level 3 just gave out Student notes and expected you to get on with it as it was just a enhancement from level .

I myself was offered to do level 3 and i know a bit about accounts but chose to do l2 for my own piece of mind.


Danny

Vlee

I did level 2 on my own easily, obviously it depends on individual circumstances and abilities, but you can get the BA1, BA2 and maybe Basic Costing done on your own - I was told BC wasn't necessarily required knowledge as it will be covered again. Apart from LIFO/FIFO/AVCO - inventory costing it's very basic. You can find the inventory costing stuff explained online.

You can cover these books in a month just reading in the evenings. There are practice tests on MyATT to check your learning too. Do this and you will have no problem jumping ahead to L3.

Angie Jay

You're supposed to do the skills test without online help, I found level 2 a good grounding for level 3. I am personally glad I did it!

totleyblade

Personally I'd be very wary about starting level three being completely new to accounting. As a tutor myself I'd be sceptical about actually accepting someone who is new to accounting on to the level 3 course simply on the basis of the AAT skills checker alone, after all, it's only an indicator. I'd suggest perhaps attempting the free level 2 questions that are available from Osborne Books' web site. Only if you are truly comfortable with these questions would I think about perhaps starting at level 3 - http://www.osbornebooks.co.uk/aat_accounting_qcf

Bean88

Vlee wrote: »

I did level 2 on my own easily, obviously it depends on individual circumstances and abilities, but you can get the BA1, BA2 and maybe Basic Costing done on your own - I was told BC wasn't necessarily required knowledge as it will be covered again. Apart from LIFO/FIFO/AVCO - inventory costing it's very basic. You can find the inventory costing stuff explained online.

You can cover these books in a month just reading in the evenings. There are practice tests on MyATT to check your learning too. Do this and you will have no problem jumping ahead to L3.

Hi, thanks for this. Just so I'm clear, I dont know what LIFO/FIFO/AVCO are, is that part of the basic costing module? And is inventory costing included in basic costing?

Like you say, I will buy the Basic Accounting 1&2 books and Basic Costing. Any others I need?

Also does anyone know about the change in syllabus for 2013? Should I be reading the old level 2 syllabus books or look at the new 2013 level 2 books in order to prepare me for the 2013 level 3 I'm starting in September?

SandyHood

You are catching up with level 2, it doesn't matter if you use the new syllabus books or the old syllabus books.
At level 3, understanding of the level 2 standards is taken for granted. Students who have passed A level accounting start at level 3.

I think you have a lot of work to do. One local employer used to insist that their sponsored students start at level 3. The firm provided support for the level 2 knowledge and felt that those students who could cope were the ones they wanted to keep, but it was a lot of knowledge to acquire.

See how much your employer is prepared to help. The AAT is a practical course in some respects and if you link it to the accounting system at work it brings the text books to life.

Bean88

Yes I agree I've got work to do before september. So am I right about the books I need. Also I just wanted some clarification about the Inventory module which you mentioned. thanks

Vlee

Yes basic costing is the module with inventory/stock costing, if you have fairly decent GCSE level maths it isn't difficult. BA1 & 2 are purely the accounting system of double entry, journals and suspense accounts being the trickiest bits.

You might find this a lot of work but you might not, I didn't, I seemed to fly through it, which I didn't expect. But it's all relative, double entry is a strange concept to get your head around and it depends on how motivated you are and how much time and energy you have. Not everyone will find it easy, which is why I struggled to be taken seriously by any local college. They have a history of students asking to skip L2 and failing L3. I am self studying L3 instead, as advised by a tutor (who did take me seriously) and as done by lots of people on this forum. L3 is definitely seems like more work, I just struggle to find the time for the seven modules.

nikkihanderson

its a lot of work and it best to take the summer time to prepare. get books, you can get some cheap second hand books from amazon and ready up on it, maybe do some short courses. I started out by finding my placement here
at hotcourses, they have plenty of courses there or check out lovemycourse


Its worth it in the end. My sister is an accountant and she is doing really well financially and i want to reach her level. I think focus on readying lots and if you want to look at other courses or short finance refresher to help. check out the above course site