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Discounts, AAT Exam Results and Grades – update yourself on the latest AAT news!

A few important AAT updates for those studying on the AQ2013 syllabus as well as those studying on the AQ2016 syllabus.

Studying on the AQ2013 syllabus:

Firstly, just a reminder that as of 1st September, the AAT launched their new AQ2016 syllabus. If you started studying prior to this and wish to remain on the AQ2013 syllabus, it is vital that you do not allow your annual membership to lapse, so do double check this. (Go to your MYAAT account on the AAT website – there is normally a reminder there if your account is due to lapse soon)

The AATs exam deadline for the AQ2013 syllabus is 31st December 2017 (although good luck trying to find an exam centre that will allow you to sit an exam on New Year’s Eve!!)

Whilst this deadline should pose no problems for the majority of students (your Individual Learning Plans will have a target completion date of earlier than 31 December 2017!), if you do think you will struggle to meet this deadline, then you can transfer across to the new AQ2016 syllabus. HOWEVER, you can only transfer across a maximum of 50% of your exam units to AQ2016; if you are in any doubt, please discuss this with your Personal Tutor.

Example:

You are on the AAT Level 2 Certificate in Accounting and have completed the following units:

  • PBKT
  • CJBS
  • CPAG

but still have BCST and WKAF to sit. In this instance, you will only be able to transfer PBKT and CJBS across to the AQ2016 syllabus i.e. you will have to resit CPAG.

If you would like to transfer across to the AQ2016 syllabus, do let us know – we, (as an AAT Approved Training Provider) will need to organise the transfer for you.

AAT PBKT, CJBS and ITAX Exams on the AQ2013 syllabus

Changes to UK legislation made in 2015 have affected the way in which all businesses have to account for VAT when offering a prompt payment discount (previously known as a settlement discount).

As a result of this, there are now 2 separate exams available for PBKT, CJBS and ITAX when exam centres are scheduling them on SecureAssess.

Your learning materials on Moodle relate to “Settlement Discounts” (Early Settlement Discounts – ESD), so when booking your exams, it is vital to make it clear to your exam centre that you wish to sit the following:

  • PBKT: your exam centre must select PBKT ESD (NOT PBKT PPD)
  • CJBS:  your exam centre must select CJBS ESD (NOT CJBS PPD)
  • ITAX:  your exam centre must select ITAX ESD (NOT ITAX PPD)

As a final check, when you are issued with your keycode slip, just doublecheck the exam name BEFORE you enter your keycode. If you suspect that you have been entered for the incorrect exam, you must notify your invigilator immediately (once the keycode has been entered, your exam cannot be cancelled, so a new exam would need to be booked and paid for).

Studying on the AQ2016 syllabus:

Exam Results

In addition to the normal Competent / Not Yet Competent result shown on your AAT exam results slip, you will also receive an overall percentage for each exam, providing that:

You are registered with the AAT for one of the four following qualifications:

  • AAT Foundation Certificate in Accounting
  • AAT Foundation Diploma in Accounting & Business
  • AAT Advanced Diploma in Accounting
  • AAT Professional Diploma in Accounting

You will not receive an overall percentage if you are undertaking an AAT short qualification e.g.

  • AAT Foundation Certificate in Bookkeeping (see our courses page here)
  • AAT Accounting Skills to Run Your Business (see our courses page here)

Grades:

In addition to the percentage for each exam (if registered on one of the AATs four full course qualifications mentioned above), you will be awarded a grade for your qualification which we believe to be:

  • Pass (70%)
  • Merit (80%)
  • Distinction (90%)

You can view all of your exam results on the AATs website via “Your Assessment Results and Statement of Achievements” online services.

You can read more about the AAT AQ2016 syllabus HERE:

If you would like to chat to us on any of the above, please give us a call on 01392 311925 or email study@accountancylearning.co.uk

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