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FSLC without any prior learning??

GalliumGallium Registered Posts: 12
in Financial Statements for Limited Companies
Hi all,

My previous employer had me start an AAT level 4 apprenticeship without much prior learning or experience.

Due to relocation I had to move within a few months of starting, resulting in me leaving the company.

Since then I've completed MDCL and MABU with relative ease and without the need to study level 3 costing material.
I'm due to start studying FSLC, but need advice regarding how to go about it. is there much presupposed knowledge for FSLC??

shall I just pick up FSCL books and have a go or should I visit level 3 content first??

Comments

  • hal978hal978 LondonMAAT, AAT Licensed Accountant Posts: 190
    Gallium said:

    is there much presupposed knowledge for FSLC??

    shall I just pick up FSCL books and have a go or should I visit level 3 content first??

    That would depend on how confident you are (and your knowledge of) preparing limited company financial statements. FSLC (or FSTM as it was before 2016) was my favourite module, as it covers things like financial reporting (e.g. IFRS), statement of cash flows, ratios etc.
  • mergenmergen Just Joined Registered Posts: 105
    To be honest if you have passed MDCL and MABU with relative ease, you should not have any issues with FSLC.
    Especially MDCL, this is where almost everybody has struggled.
  • GalliumGallium Registered Posts: 12
    mergen said:

    To be honest if you have passed MDCL and MABU with relative ease, you should not have any issues with FSLC.
    Especially MDCL, this is where almost everybody has struggled.

    I was under the impression that MABU and MDCL don't assume you have much costing knowledge from level 2 or 3, if it does these are still covered through the level 4 books.

    Does FSCL assume that you are already familiar with certain concepts or can you just pick these up by studying the text for it?
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