Charities

Kelly Ward

I'm currently in the middle of doing my Level 4 AAT and one thing that I have noticed through the levels of studying is the lack of learning regarding charities. I work for charity so hence why ive noticed probably more than someone else would. Charity accounts are done slightly different. This cropped up recently for as I wanted to have a go at doing our organisations Corporation Tax return, so when speaking to our accountants I asked if I could as I had just passed the Business Tax unit. His reply, charity corporation tax returns aren't like normal ones!
I think it would be good for AAT to include some bits on charity accounts/finance. Just a thought anyway

hal978

Yes there are a number of things missing from the AAT syllabus that are relevant and useful to accounting. For example they don't cover accounting standards such as FRS 102 and FRS 105, which are covered when you study for one of the Chartered qualifications (e.g. ACCA/ACA). Although the AAT syllabus does cover IFRS, most companies don't adopt it.

I agree that charity accounts would be a useful module to add - perhaps an optional one?

MarieNoelle

hal978 said:

Yes there are a number of things missing from the AAT syllabus that are relevant and useful to accounting. For example they don't cover accounting standards such as FRS 102 and FRS 105, which are covered when you study for one of the Chartered qualifications (e.g. ACCA/ACA). Although the AAT syllabus does cover IFRS, most companies don't adopt it.

I agree that charity accounts would be a useful module to add - perhaps an optional one?

This I find amazing as most businesses would fall under those standards - I understand that not everything can be covered and a lot is learned on the job - maybe optional units could be added for those interested in more specific industries like Charity accounting?