Passed AAT L2, how much of a step up is L3

Kram
Kram Registered Posts: 4 New contributor 🐸
Hi all,

I do realise that this question does get asked an awful lot but I am a little nervous about beginning to study Level 3. I am hoping to do classroom study with a local training provider as long as I am in good health. I suffer from a stomach condition which is prone to flare ups if under stress.

How much of a step up is Level 3 from Level 2? Athough I passed L2 with a distinction grade there were a few things I just couldn't grasp very well or do with confidence like overhead absorption rates and petty cash so I could be found out at Level 3 and could find things really difficult.

Please share your experiences of L2 to L3. Quals Q2022 for L2 btw..

Comments

  • davealucas
    davealucas MAAT Posts: 139 Dedicated contributor 🌟 🐵 🌟
    My experience is from AQ2016, but I found the step up from Level 2 to 3 pretty OK.

    Level 3 to 4 was a bit more of a step up though.

    Hope this helps.
    crispyKramGMc23
  • wilburnet
    wilburnet Registered Posts: 54 Regular contributor ⭐ 😼 ⭐
    You have much bigger units for example the FAPS on AQ2022 which is a combo of 2 units from AQ2022.
    Kram
  • anony123
    anony123 Registered Posts: 311 Dedicated contributor 🌟 🐵 🌟
    The step up was massive for me, got exams like tax processes, FAPS, management techinques and business awareness. No synoptic now
    Kram
  • anony123
    anony123 Registered Posts: 311 Dedicated contributor 🌟 🐵 🌟
    But you are building on knowledge from level 2 to go to level 3. Takes time to learn stuff like accurals and prepayments, but once you conquer those it is ok the rest of the way. If you do take it on next year, the MAFPS excel is nothing like they put on the AAT website. It is much harder, like I mean much harder. When I look at level 2, it seems a breeze to where we are now. Like the double entry I did not understand at first, but the double entry at level 3 is way more complicated like it isnt DR purchases DR VAT and CR PLCA.
  • Kram
    Kram Registered Posts: 4 New contributor 🐸
    Thanks all for the comments.

    Anony123 - I can understand that the double entry could be more complex at Level 3 but should still work on the same principles.

    Can you explain why you wouldn’t DR Purchases, DR Vat, then CR PLCA?
  • anony123
    anony123 Registered Posts: 311 Dedicated contributor 🌟 🐵 🌟
    Oh yes, it is still the same principle. I learned DEAD CLIC, but others learn it through PEARLS.
    I meant it is not as simple as DR purchases, DR VAT and CR PLCA.

    Let me give you a few things to practice: there are accrual's and prepayments. This was hard to start of with for me:

    DR Expenses
    CR Accrual expenses
    DR prepaid expenses
    CR expenses
    DR Accrual income
    CR income
    DR income
    CR prepaid income

    This was the most difficult for me

    Also, DR depreciation CR accumulated dep

    There is a lot more, but when I look back at Level 2 most of it is pretty simple.
    Did u pass all of them? What was the hardest, and do you mind sharing your results?

    Also, there is straight line depreciation and also dismishing depreciation

    eg. straight line is the same each year. I bought a computer from curry's for example at £2,000
    year 1 20% dep (£400)
    year 2 20% (£400)
    year 3 20% (400)
    year 4 (£400)
    Year 5 (400)

    But dimishing is done on the carrying amount eg. the same bought a computer.... £2,000
    year 1 20% (£400) so £1,600 remaining
    year 2 20%, but the 20% has to be done on the £1,600
    year 3 20% £320, remaining £1,600-320

    If you get this it will be fine the year, sorry if you don't quite understand:

  • anony123
    anony123 Registered Posts: 311 Dedicated contributor 🌟 🐵 🌟
    It is really complicated to summarise what we have learnt because there was so much
  • Kram
    Kram Registered Posts: 4 New contributor 🐸
    Thank you for explaining so more in depth at level 3 that’s fine. I’ll have to learn as I go.

    My results at level 2 were.

    Intro to bookkeeping 97%
    Controls 98%
    Costing 80%
    Synoptic 85%

    90% distinction overall Q2022. Good luck.
  • anony123
    anony123 Registered Posts: 311 Dedicated contributor 🌟 🐵 🌟
    oh you will be fine:)
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