AAT Level 4 - Diploma in Professional Accounting

This advanced qualification is designed to prepare you for a range of accounting and finance roles, such as Assistant Financial Accountant and Senior Finance Officer, and to help you earn a respected industry credential. To enroll in this course, you need either a Level 2 qualification or substantial practical experience in accounting, with an AAT skills check required. The course will enhance your expertise in managing complex accounting tasks and qualify you for senior finance roles, as well as AAT full membership. It serves as an excellent stepping stone for advancing to professional qualifications such as ACCA, ICAEW, CIMA, AIA, IFA, CIPFA, or degree programs. On completion of the Level 4 Diploma candidates will be able to apply for full membership to the AAT.

What it covers?

This qualification delves into advanced accounting and finance topics, equipping students with a broad set of financial management skills and applications. Students will develop proficiency in drafting financial statements for limited companies, recommending effective accounting system strategies, and constructing and presenting detailed management accounting reports.

4 mandatory units (syllabus) and 2 optional units to complete (with optional unit for Botswana students only):

The AAT Level 4 Accounting subjects and mandatory three units:

1. 01. Applied Management Accounting (mandatory)
2. 02. Drafting and Interpreting Financial Statements (mandatory)
3. 03. Internal Accounting Systems and Controls (mandatory)

Two optional units must be chosen from the following:

1. 01. Business Tax (optional)
2. 02. Personal Tax (optional)
3. 03. Audit and Assurance (optional)
4. 04. Cash and Financial Management (optional)
5. 05. Credit and Debt Management (optional)

01. Applied Management Accounting (mandatory)

This unit provides students with a comprehensive understanding of the budgetary process. Students will learn to construct and manage budgets effectively, identify and report on both successful areas and potential concerns for key stakeholders, and develop the skills necessary for critical evaluation of organisational performance.

This unit accounts for 30% of the overall qualification grade.

Learning outcomes

• Understand and implement the organisational planning process.
• Use internal processes to enhance operational control.
• Use techniques to aid short-term and long-term decision making.
• Analyse and report on business performance.

02. Drafting and Interpreting Financial Statements (mandatory)

This unit equips students with the skills and knowledge required to draft financial statements for single limited companies as well as consolidated financial statements for groups of companies. It ensures that students develop a thorough understanding of international accounting standards, which they will apply in preparing these financial statements. Additionally, students will gain a solid grasp of the regulatory and conceptual frameworks that underpin the preparation of financial statements for limited companies.

This unit accounts for 20% of the overall qualification grade.

Learning outcomes

• Understand the reporting frameworks that underpin financial reporting.
• Draft statutory financial statements for limited companies.
• Draft consolidated financial statements.
• Interpret financial statements using ratio analysis.

03. Internal Accounting Systems and Controls (mandatory)

This unit teaches students to understand the role and responsibilities of the accounting function, including addressing the needs of key stakeholders who rely on financial reports for decision-making. Students will assess accounting systems to identify weaknesses and provide recommendations to address these issues and improve future operations. Additionally, students will employ various analytical methods to evaluate the impact of changes in operating procedures.

This unit accounts for 20% of the overall qualification grade.

Learning outcomes

• Understand the role and responsibilities of the accounting function within an organisation.
• Evaluate internal control systems.
• Evaluate an organisation’s accounting system and underpinning procedures.
• Understand the impact of technology on accounting systems.
• Recommend improvements to an organisation’s accounting systems.

Optional units

1. Business Tax (optional)

This unit introduces students to UK taxation as it applies to businesses. Students will learn how to calculate business taxes for sole traders, partnerships, and limited companies. They will also identify tax planning opportunities and gain an understanding of the importance of maintaining ethical standards in tax practices.

This unit accounts for 15% of the overall qualification grade.

Learning outcomes

• Prepare tax computations for sole traders and partnerships.
• Prepare tax computations for limited companies.
• Prepare tax computations for the sale of capital assets by limited companies.
• Understand administrative requirements of the UK's tax regime.
• Understand the tax implications of business disposals.
• Understand tax relief, tax planning opportunities and agent’s responsibilities in reporting taxation to HM Revenue & Customs.

2. Personal Tax (optional)

This unit provides students with essential knowledge of the three most common taxes affecting UK taxpayers: Income Tax, Capital Gains Tax, and Inheritance Tax. Students will be equipped to prepare the computational aspects of these taxes and understand strategies for legally minimizing overall tax liability.

This unit accounts for 15% of the overall qualification grade.

Learning outcomes

• Understand principles and rules that underpin taxation systems.
• Calculate UK taxpayers' total income.
• Calculate Income Tax and National Insurance contributions (NICs) payable by UK taxpayers.
• Calculate Capital Gains Tax payable by UK taxpayers.
• Understand the principles of Inheritance Tax.

3. Audit and Assurance (optional)

This unit aims to provide a comprehensive understanding of the principles and concepts underlying audit and assurance services, including legal and professional regulations. Students will gain insight into the entire audit process, from planning and risk assessment to the final completion and production of the audit report. Additionally, the unit offers a practical perspective on audit and assurance, with a focus on applying techniques to current systems.

This unit accounts for 15% of the overall qualification grade.

Learning outcomes

• Demonstrate an understanding of the audit and assurance framework.
• Demonstrate the importance of professional ethics.
• Evaluate the planning process for audit and assurance.
• Review and report findings.

4. Cash and Financial Management (optional)

This unit emphasises the importance of effective cash management within organisations. It covers the knowledge and skills needed to make informed decisions regarding financing and investment, in alignment with organisational policies and external regulations. Students will learn to identify current and future cash transactions from various sources, eliminate non-cash items, and apply various techniques to prepare accurate cash budgets.

This unit accounts for 15% of the overall qualification grade.

Learning outcomes

• Prepare forecasts for cash receipts and payments.
• Prepare cash budgets and monitor cash flows.
• Understand the importance of managing finance and liquidity.
• Understand the way of raising finance and investing funds.
• Understand regulations and organisational policies that influence decisions in managing cash and finance.

5. Credit and Debt Management (optional)

This unit offers a comprehensive understanding and practical application of effective credit control systems, including suitable debt management practices. Students will be introduced to techniques for assessing credit risks, in accordance with organizational policies, relevant legislation, and ethical standards.

This unit accounts for 15% of the overall qualification grade.

Learning outcomes

• Understand relevant legislation and contract law that impacts the credit control environment.
• Understand how information is used to assess credit risk and grant credit in compliance with organisational policies and procedures.
• Understand the organisation's credit control processes for managing and collecting debts.
• Understand different techniques available to collect debts.

Who is it suitable for?

This final level accounting qualification is ideal for:

• Individuals with a Level 3 or accounts related qualification in accounting who wish to gain a professional membership and licence to practice in the UK.
• Employers seeking to enhance their staff's accounting skills.
• Individuals pursuing accountancy as career pathway and wanting to quickly assess to final stages of professional qualifications.
• Business owners who wish to develop and maintain their own accounting records, whether manually or through accounting software.
• Those looking to obtain an accounting qualification to demonstrate technical competencies and efficiency.

Potential Career Opportunities

Upon completing this qualification, you will be well-prepared to apply for roles such as:

• Accounts assistant
• Accounts payable and expenses supervisor
• Assistant financial accountant
• Commercial analyst
• Cost accountant
• Fixed asset accountant
• Indirect tax manager
• Payroll manager
• Payments and billing manager
• Senior bookkeeper
• Senior finance officer
• Senior fund accountant
• Senior insolvency administrator
• Tax supervisor
• VAT accountant

How long it takes?

The qualification usually takes around 18 months to complete, but this will depend on study method and course timetable. Most students can potentially complete this qualification a little quicker in 12 months. If the student aim to fast-track on their study method and course timetable.

How and where to study?

You can choose to study through online distance learning, blended learning, or in the classroom—whatever suits you best. Whether you prefer evening classes, part-time, or full-time study, there’s an option to fit your schedule. Even if you opt for distance learning, you'll need to find a training provider. We’ll assist you every step of the way, including with registration. Once a cohort of students is registered, we’ll schedule sessions at times that work best for the group.

What to expect from us?

We provide flexible study options through block-teaching sessions, available both online and in-person, tailored to fit your lifestyle and schedule. To ensure personalised support and cost-effective delivery, we create small cohorts of learners, allowing us to offer comprehensive attention to each individual.

For those in full-time employment, we recognise the challenges of balancing work and personal commitments. That's why we schedule sessions around your availability, including daytime, evenings, and weekends. Throughout your studies, you’ll receive continuous support and guidance from your personal AAT tutor, who will be with you every step of the way.

You will have seven-day-a-week access to our team of fully qualified, highly experienced tutors and course advisors, selected for their deep industry knowledge. Our mission is to equip you with everything needed to confidently progress through your AAT course and achieve your qualification in the most efficient and cost-effective manner possible.

What is the cost?

The total cost for the course, including all registration and assessment fees, is £2,206. This includes:

• A course fee of £1,625, which covers tuition (if attending in-person classes) and is paid directly to us.

• The standard qualification fee is £581. This fee is made up of:
• a one-off registration fee of £251, paid directly to AAT. This registration fee will give you access to the qualification for its lifetime, typically four to five years, and access to the study support resources, and enable you to sit the qualification assessments
• 5-unit assessments (three mandatory and two optional from a selection of five), all priced at £66 each.

The registration fee, paid directly to AAT, grants access to study support resources and covers assessment scheduling for the duration of the qualification, typically four to five years. The assessment fee is paid to your us or assessment venue.

Please be aware that training providers and assessment venues may charge an additional administrative fee for the assessment, which can vary between organisations.

Reduced registration fee for AAT bookkeeping members

If you're already an AAT bookkeeping member (AATQB) you'll pay a reduced registration fee of £117. Make sure you're logged in and the discount will be automatically applied when you add the qualification to your basket.

Your unit assessments will still cost £66 each.

AAT Bursary

AAT is pleased to offer a bursary to individuals facing financial challenges, providing them with the opportunity to transform their lives through an AAT qualification. Applications for this bursary will reopen in early 2025.

Entry requirements

Students can start with any qualification depending on existing skills and experience. For the best chance of success, we recommend that students begin their studies with a good standard of English and maths.

If you already have some accounting experience, use the AAT Skill check to assess your knowledge and determine the most suitable qualification to start with. We will assist you on this entry requirements. Please contact us for your skills check.

Exemptions

Those who can provide evidence of gaining a previous, relevant qualification from an external awarding body may not have to sit all AAT assessments.

We believe that if you've already studied qualification units featuring the same content, you shouldn't need to duplicate work. This means students can fast track onto the most appropriate AAT qualification.

Students may be eligible for exemptions if they have:

• previous finance or accounting qualifications
• an accounting or finance degree.

Contact us about studying an AAT Qualification

• Whatsapp: +44(0)7841144988    
• Email: admin@aprcb.com

We will respond to your enquiry as soon as possible.

Office Hours:

Monday to Friday, 09:00 to 17:00 UK time