Dumb question

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:30AM in AAT student discussion
Ok this is probably a stupid question and I think I know the answer - unit 7 preparing reports and returns isn't assessed by the ECR exam is it? (ok I'm fairly sure its not) I think we just have to do a skills test - which is why I am trying to rapidly learn it and get it out the way to concentrate on costings?!?<BR><BR>Also has anyone got a good way of stating the difference between an Accounting Technition and a fully qualified chartered accountant - I know it is obviously a higher level qualification but if someone can think of an easy way of explaining the main differences and the extensions of knowledge gained by doing chartered accountancy I would be most grateful.<BR><BR>Sorry for being stupid.<BR><BR>Torix

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Dumb question

    Hi Tori.<BR><BR>Unit 7 is a skills test.<BR><BR>AAT is equivalent to 2nd year of a degree, Chartered is equal to a masters.<BR><BR>Chartered can sign off accounts.<BR><BR>Scott.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Dumb question

    Chartered is for people whose parents are members of the golf and tennis clubs.<BR><BR>AAT is for people who get their hands dirty and do the nitty gritty stuff.<BR><BR>Do chartered if you want to be an FD.<BR><BR>Do AAT if you don't.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Dumb question

    Thanks for replies.<BR><BR>I'm probably not going to do chartered as I am pretty sure AAT can get me as far as I want to go - been on too many courses already in my life anyway, the break would be nice - maybe later if life really does become very very quiet. <BR>I just wanted a sort of reason for not doing it as some people don't seem to realise that the AAT really is a very in-depth qualification which does take you to a good level of understanding of accounts. I had all ready been asked before I started AAT if I am going on to ACCA by one person - I don't think he understood what the AAT really meant - I shall endeavour to make him understand its more than just an assistants level once fully qualified. <BR><BR>Ta Torix
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Dumb question

    Hi<BR><BR>Following on from Scotty and to confuse even further, AAT qualified can sign off accounts, it depends on who they are for (i.e. the bank) Banks will have there own requirements, depending on the what purpose they are reveiwing them for and its company directors who sign off the accounts not the accountants. Though thay may sign an audit report, but that means extra qualification anyway.<BR><BR>Neil
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Dumb question

    Also as far as I understand the situation, an AAT Technician can deal with the Inland Revenue with company accounts up to £2,500,000 after that you need to be a fully qualified accountant to deal with the accounts.<BR><BR>Cheers<BR><BR>Anne
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Dumb question

    Iâ??m surprised that the AAT qualification is equivalent to the 2nd year degree as when I did AAT the intermediate level syllabus was identical to the A-level syllabus, therefore I would have thought that the final year of AAT would have been equivalent to (maybe) the foundation year at degree levelâ?¦â?¦â?¦
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Dumb question

    I'd agree that its equivalent to the 1st year of an accounts degree. When I did my degree all the number crunching stuff was done in year 1. The only numerical stuff done in years 2 and 3 was tax and a bit of costing. Years 2 and 3 focussed far more on essays and analysis of information from a management perspective rather than actually producing the information itself.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Dumb question

    The Technician level of the AAT is equivalent to the 2nd year of a degree.<BR><BR>Scott.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Dumb question

    i have been told that technician is equivalent to the first year of a degree course which sounds about right when you can get a degree after 6 papers of ACCA.<BR><BR>

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