Advice pls - Tax or Audit??

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:09AM in AAT student discussion
Hi everyone<BR><BR>I've just finished intermediate exams and have to decide which units to take at Technician Level (day release)<BR>Our college gives a choice between audit which they say is more "written" or personal tax which is "number crunching" - can anyone help me to chose which i should do? Or is there anywhere i can get a summary or overview of each unit and decide that way? By the way - I prefer financial accounts to management accounts if that makes a difference?<BR><BR>Thanks in advance :-)

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Advice pls - Tax or Audit??

    Afternoon<BR><BR>If you go to the Resource Centre, it tells you what is covered in each unit<BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Advice pls - Tax or Audit??

    Thanks but can't see it in there?<BR><BR>Or am i being dull??? Good luck @ Technician level Mel!! Ha ha
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Advice pls - Tax or Audit??

    I did Audit as wanted the easy option. Found it a bit boring, but easy enough with the added bonus of not being a central exam, so finding out if you pass of fail straight away.<BR><BR>You might might brainier than me so might want the Tax option.<BR><BR>Ann
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Advice pls - Tax or Audit??

    See what I mean about brainer, I can't even put a sentance together<BR>Ann
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Advice pls - Tax or Audit??

    :-) Thanks Ann, is it true that there's a lot of "writing" involved? If so, in what way? Is it more about reports etc?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Advice pls - Tax or Audit??

    The Audit syllabus is quite vast. Not only vast but it can sometimes be very tedious. The majority of Auditing papers (approx 95%) of them are written. To summarise it's basically about auditing standards, the duties of auditors, audit risks and assessment, materiality concepts and auditing ethics. There will be very little, if any, numer crunching. If numbers are your forte, then I would recommend the tax option.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Advice pls - Tax or Audit??

    Hi, our college automatically did personal Tax and it was Business tax that was the option. As I use some of the tax areas in my job I found it really useful. This area is quite good if you have to sort out peoples tax codes or self assessment forms. It is mainly number crunching, with just the odd question on things like - Client confidentiality i.e not giving someones tax and account info out to a third party without their permission etc. Pretty straightforwad. We weren't offered Audit, but someone in our group took it independantly and I think it was a lot of theory.<BR><BR>Not sure if this helps you<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Advice pls - Tax or Audit??

    I was told that to achieve exemptions in CIMA ACCA etc the audit unit had to have been covered - not sure if true but might be worth checking out.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Advice pls - Tax or Audit??

    You don't need to do audit to get full exemptions from ACCA, you just need to complete technician (what options you take are irrelevant). This will let you start at stage 2. I'm fairly sure that it is the same for CIMA. I have a feeling that you may need to do particular options to fast track to CIPFA but someone else will know the actual details.<BR><BR>Annette <BR><BR>P.S. If you are considering going on to ACCA then it is worth doing the 2 tax options, it makes your business tax paper a bit easier.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Advice pls - Tax or Audit??

    Thanks everybody, some great advice. I'm thinking I'm gonna go with the Tax option, would probably be of more use to me in the future, unfortunate that it means an extra exam tho!<BR><BR>Thanks again<BR><BR>Mel<BR>xx

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