Level 4 Optional

gemma89
gemma89 Registered Posts: 43
in General discussion - Professional level
Hi Guys
I just want some advice on Level 4 - Which is the best exam to do first?
What are the optional units all about?
I currently do 1 day a week in a company and am starting in a few weeks 2 days in practise so I don't really know what I am interested in yet.
I hope to progress through probably ACCA but I am not sure which optional units to take

Is cash and treasury more for charities?
Would personal tax be more if I was dealing with sole trader businesses?

What is credit management about?
Also external auditing - Is that really worthwhile if I just want to be a chartered accountant and not an auditor? Or is auditing where the big money is? Haha.

Thanks in advance

Comments

  • Norvydas
    Norvydas Registered Posts: 271 Dedicated contributor 🦉
    Hi @gemma89

    I chose Personal Tax & Business Tax as my optional units. They are biggest and probably most difficult out of all optional units. I chose them because I am working with Limited companies and etc and having business tax knowledge is extremely helpful while preparing corporation tax returns. Personal Tax is another beneficial unit whether you will be preparing sole traders accounts or giving taxation advice.

    I chose the units that I thought were most beneficial for accountants. If you work in Practise and deal with sole traders and Limited companies then i would say personal tax and business tax is the ones you need to go for.
    Kind Regards,

    Norvydas Valavicius.
  • A_Khan
    A_Khan Registered Posts: 4
    I did cash and treasury management and found it quite difficult. It is based a lot around banking policies and treasury functions. What do to on cash shortages, where to get funds (loans, shares, overdrafts), and what to do to with surplus funds, where to invest you extra money to gain additional income (shares, deposit accounts, gold/oil).
    I have heard audit is a good unit to take as a colleague chose that and found it quite enjoyable.
    For my second unit i have put down credit management but havent started yet
  • CSan89
    CSan89 Registered Posts: 207
    I have to agree that auditing was by far the easiest. I did personal tax and business tax as well but that was due to wanting the exemptions for ACA.

    My advice would be that if you are not sure what you want to do, go for the ones that you will find easier and fun. That will get you your pass for level 4.
    At the end of the day, if you are going for chartered after, you will pick up any bits that you missed in AAT through them.
    AAT Level 2&3 - 2016
    AAT Level 4 - 2017
    Personal Tax, Business Tax and External Auditing

    ACA/CTA -
    Certificate Level - Jan 2019
  • davealucas
    davealucas Registered Posts: 140 Dedicated contributor 🦉
    @gemma89 It really does depend on what you want to do. If you want to go into practice then Personal and Business Tax is probably the way to go. Cash and Treasury Management may be necessary if you want to go into a large business, but if you go into public sector accountancy via CIPFA then External Auditing is an essential.

    I suggest that you look at the professional bodies and see what you need for the relevant exemptions.

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