Level 3 to Level 4 Student

DannyBoi

Hi All

So in two weeks time I will be studying Level 4 AAT and since the start of this month have been revising all of the units I done for Level 3, which was achieved in December last year.

I had a few questions if anyone that has achieved Level 4 AAT could answer if possible please, which are:

- So for management accounting, what should I learn prior to Level 4 to ensure I'm up to date with everything in this particular area? It's not a strong area for me as it's something I don't work with enough.

- Which are considered the more challenging units for Level 4 AAT? I understand it's an individual basis but would like to know why, excluding synoptic which is pretty hard in all levels.

- I think that's it really terms of questions, is there anything else I should know really for Level 4?

I'm prepared to be studying 15 hours a week, which is a tiny bit overkill probably. I'm going to be having two college sessions each week which will help me a lot (7 hours total). So far have revised pretty extensively into Final Accounts Preparation and Advanced Bookkeeping which are done now at this point. I will be starting Management accounting unit today may even attempt Level 2 and 3 practice exams to get up to date, then Ethics + Synoptic after.

I'd just hate to have that feeling of thinking ''Oh god I should've known that from Level 3'' when doing Level 4 AAT. Some calculations I will list below which I think will be useful for Level 4 below are:

EXP INC (Prepayments and Accruals)
Reversal Entries - (dr) P A (cr) (dr) A P (cr) Current Year (original entries) - A P P A

DEAD CLIC:
Debits, Expenses, Assets and Drawings
Credits, Liabilities, Income, Capital

Opening (on profit and loss statement)
+Purchases
-Closing
= Costs of Goods

SALES = ( 100+Markup/100) * COGS
COGS = ( 100-Margin/100) * SALES

Disposals can be income or expense account, which reverses the original asset + accumulated deprecation.

Non current assets are long term assets and are on Statement of Financial Position in it's own section. This'll have accumulated deprecation *i assume vice verse for appreciation if that question ever came up*

Many thanks in advance.

Daniel

Emmalouise18

DannyBoi said:

Hi All

So in two weeks time I will be studying Level 4 AAT and since the start of this month have been revising all of the units I done for Level 3, which was achieved in December last year.

I had a few questions if anyone that has achieved Level 4 AAT could answer if possible please, which are:

- So for management accounting, what should I learn prior to Level 4 to ensure I'm up to date with everything in this particular area? It's not a strong area for me as it's something I don't work with enough.

- Which are considered the more challenging units for Level 4 AAT? I understand it's an individual basis but would like to know why, excluding synoptic which is pretty hard in all levels.

- I think that's it really terms of questions, is there anything else I should know really for Level 4?

I'm prepared to be studying 15 hours a week, which is a tiny bit overkill probably. I'm going to be having two college sessions each week which will help me a lot (7 hours total). So far have revised pretty extensively into Final Accounts Preparation and Advanced Bookkeeping which are done now at this point. I will be starting Management accounting unit today may even attempt Level 2 and 3 practice exams to get up to date, then Ethics + Synoptic after.

I'd just hate to have that feeling of thinking ''Oh god I should've known that from Level 3'' when doing Level 4 AAT. Some calculations I will list below which I think will be useful for Level 4 below are:

EXP INC (Prepayments and Accruals)
Reversal Entries - (dr) P A (cr) (dr) A P (cr) Current Year (original entries) - A P P A

DEAD CLIC:
Debits, Expenses, Assets and Drawings
Credits, Liabilities, Income, Capital

Opening (on profit and loss statement)
+Purchases
-Closing
= Costs of Goods

SALES = ( 100+Markup/100) * COGS
COGS = ( 100-Margin/100) * SALES

Disposals can be income or expense account, which reverses the original asset + accumulated deprecation.

Non current assets are long term assets and are on Statement of Financial Position in it's own section. This'll have accumulated deprecation *i assume vice verse for appreciation if that question ever came up*

Many thanks in advance.

Daniel

Hello,

You need to carry ALL knowledge you have learnt in Level 2 and Level 3 to be able to achieve and pass Level 4.

Level 4 is a tough unit and it requires a higher amount of effort, work and revision time. From experience, and after speaking to many other students that I have helped, you cannot 'wing' Level 4. The examiners are very strict on what they give marks for.

Decision and Control is one that most students struggle with, along with the Synoptic. I personally found Synoptic easier than Decision and Control. Financial statements is also a tricky one as there is a lot to remember.

When doing each of the core exams for Level 4 (Budgeting, Decision and Control, Financial Statements)- keep all your books, notes and workings as you will need this for Synoptic.

I did budgeting first and synoptic last and it took me 2 years so by the time I was studying for synoptic, I had forgotten most of budgeting.

I suggest buying BPP books as these are amazing. They give so many examples and practice questions on each unit.

Leave yourself 6-8 weeks on each unit before doing the exam.

Auditing (optional unit) with help a lot with Synoptic unit as there is a huge cross over on content.

I offer help on here to people who are struggling with units, so drop me a message if you need any advice/notes/help.

Emma x

BBarrett

Hi Emma

Can you help me with Sage 50 L2 do you gave any advice I cant believe I have failed it again . My next attempt will be the this time so I really need to get this now I got 53% today. Am going to do the practice questions on the AAT this time as well to see if my result end up the same as on the answers sheets to ensure that I get it this time . But I was only really struggling on the bank reconciliation one , it just did not balance and I started to get stressed that I was running out if time. But the results came back the was borderline on many areas or I just met that area . I passed L1 Accounting software with no problems so am surprised I just can't get this exam .

Would appreciate any advice

Emmalouise18

BBarrett said:

Hi Emma

Can you help me with Sage 50 L2 do you gave any advice I cant believe I have failed it again . My next attempt will be the this time so I really need to get this now I got 53% today. Am going to do the practice questions on the AAT this time as well to see if my result end up the same as on the answers sheets to ensure that I get it this time . But I was only really struggling on the bank reconciliation one , it just did not balance and I started to get stressed that I was running out if time. But the results came back the was borderline on many areas or I just met that area . I passed L1 Accounting software with no problems so am surprised I just can't get this exam .

Would appreciate any advice

Messaged you