AAT Level Three Certification Process
AAT Level 3 represents an advanced or intermediate level of accounting education and this qualification entails the knowledge and practical experience of advanced accounting procedures and advanced bookkeeping practices in addition to a practical understanding of financial management principles and practices. In addition, a qualified accountant will be able to apply the accounting principles to the management of business finances in order to create, manage and maintain effective working capital plans. In addition, the accountants will have knowledge of the tax laws applicable to small business organizations aat level 2.
There are a number of areas that can be addressed by AAT level 3. These include business process development, corporate finance, accounting systems and financial reporting systems. As these are required for all accounting professionals who work in the finance and business sectors, this qualification is also called Certified Business Accountant (CBA) training. Candidates who are successful in meeting the qualifications that are required for this qualification are required to pass a written examination as well as an oral examination.
The exam that is required of AAT level 3 candidates includes a multiple choice section as well as a written and an oral section. During the written examination, candidates are expected to be able to answer questions pertaining to their general knowledge of business as well as the areas of financial accounting. The oral section consists of an oral examination where candidates are required to demonstrate their knowledge of the concepts that they learned during their certification training aat level 3.
As there are some prerequisites that must be met before one can sit for the AAT level 3 exam, the following is a list of those who are considered eligible for the examination: The candidates must have at least twelve months of practice with the basics of business. They must have at least six months of actual working experience as a certified accountant. The candidates must have at least three years of study and experience in the practice of business accounting. The candidates must have passed all other exam requirements that are set forth in the Examination Council’s (ECC) National Association of Accountants (NADA) Code of Ethics.
Upon passing the examination, the candidates will be certified as AAT level 3. At this stage, the candidates will begin working in a specific accounting firm that specializes in business finance and must meet the pre-defined hours for their job. The responsibilities of the AAT level 3 include preparation and maintenance of business financial reports, analysis, preparation and presentation of financial statements and documentation of financial records, administration of accounts payable and accounts receivable, preparation of financial plans and budgeting and development of financial projections. They also have the responsibility of preparing and implementing financial management plans.
As previously mentioned, those who obtain this qualification are required to complete an additional two to four years of study in order to become an eligible CPA. This certification is renewed yearly. During the fourth year of the certification, candidates will be expected to take the Certified Business Manager Examination.