I am going to do the AAT skills test to see what level I fall into. (I am hoping the intermediate). I have just achieved the OCR level 2 Dep. in Accounting and am currently reading books relating to the ICB/IAB exams.
I know the skill check is multiple choice and there are 30 questions and it covers: Personal Office Skills, Information Technology, Costing, Double Entry Bookkeeping and Financial Transactions. The last 2 were covered in my course in depth. In relation to the first 3 I am not sure what to expect (type of/depth of questioning).
Also what percentage pass relates to level 2,3,4?
Is there anything else about this that is worth mentioning before I take the test?
I think whatever result, it will say start at level 2 ie the beginning! It did with me and I can't remember what the mark was but in the 90% range anyway.
Do not worry about the first 2. Silly questions from the type what would you do if your boss ask you for a coffee. a. ask the CFO of the company what to do b. refuse c. ask how many sugars
I had the same thing when i tried the test, got a high mark but it still recomended me for the begining, though it was just me, or do you have to get 100% before it says you can start at intermediate.
Only, if I ever decide to go down the AAT route in the future. I would want to by pass as many levels as poss. It's not on my list of priorities yet though.
Yep, I thought about that also. But that will wait for another day, just completed all the ICB manuals so a fully paid up and examined certified member now, onwards to Level IV!
When do you expect the rest of the level IV info to be available, like costs.
It is also not clear what the format will be, it says home based and online.Will it be a timed exam, which has to be completed in 2-3 hours, or will it be an assignment, with a completion deadline, for example, as with previous assignments, within two weeks?
About AAT skilltest, if you talk about this test : http://aatskillcheck.org/home.aspx
You can take it again and again with the same email adress.
It doesn't always say start at level 2 : it suggers me level 3 for instance (with 2 silly errors).
With 100%, it still says level 3.
__________________
The two principal figures without which no project is possible: the perfection of the circle, the principle of all regular bodies, and the equilateral square. (Fra Luca Pacioli)
Should be up soon, we are having meetings to discuss how the level will be examined, it will be either online, or in a centre like the Manual II and III.
Most likely it will be a 3hr centre paper I guess, so costs would be around £75-£85 depending on take up. (but that is just me guessing, I'm not in the education department).
Currently they are asking people what they want from the Level IV, is it just CPD, or is it a stepping stone to becoming an accountant etc.
That doesn't fit with how it is described on the website, which says it is homebased - online but I understand this is your opinion.
For me personally, I would like to see the qualification(s) equate to a similar status to AAT MAAT MIP, with a level IV being a stepping stone to a chartered/ certified accounting qualification if required, and allowing Accountant as a description.
The Level IV is based around GAAP but with IFRS being introduced, will this change to that?
Bill
Agree with you, that kind of learning is the base of learning for accoutancy, and if you wanted to go down that route, the ICB qual would be useless as its not recognised.
I think if ICB want to progress their training, some serious thought needs to go into what they want to achieve, as I understand they do not want to lower their standards ie pass marks, but it does limit the progress of members wanting to move further forward in their career, especially those self employed (which is where ICB is best for) who wish to offer tax advice.
The Level IV is based around GAAP but with IFRS being introduced, will this change to that?
Maybe I am a cynic but I suspect there is a CPD/ Add On route, when IFRS is introduced.
I agree though, why not take the IFRS path now, or at least give the option. As it is possible for IFRS to be adopted by a business instead of UK GAAP anyway.
Perhaps it can be suggested to the Education Team.
Edit: Just wanted to add, that I agree with James that the ICB is an organisation whose core is bookkeeping and aimed at professional bookkeepers. What I would like is (and it does seem to be heading that way) that if a member wants to, they can take it to the highest level of bookkeeping.
Bill
-- Edited by Wella on Monday 11th of October 2010 02:38:45 PM
Well first to quote Bill: "I think if ICB want to progress their training, some serious thought needs to go into what they want to achieve", the ICB is you guys
Yes agree. The education department mentioned online or home based testing, the membership department said about exemptions from ACCA or whatever, which if it is decided to go that route the tests would have to be centre based.
I personally think the ICB should go for some sort of bridge or route into an accountants role, and therefore it should be a centre based test. Even if most people don't want to go into accountants role, it is nice to have the option.
Personally I don't know about UK GAAP, will ask when education peeps are in office tomorrow. However, in Europe the ICB has an IFRS course and qualification so the UK could just steal that later on.
Well first to quote Bill: "I think if ICB want to progress their training, some serious thought needs to go into what they want to achieve", the ICB is you guys
Sorry James, can't take credit for that quote
Bill
-- Edited by Wella on Monday 11th of October 2010 06:39:17 PM