Hi, I've decided to get started with the AAT course but need to keep the costs down. Having looked on here alot it seems I can buy books from amazon/elsewhere and self study and then use a training provider for certain parts of each level when required. But taking this onerous task one step at a time I would like to get started on level 2 to ensure I have a good foundation from which to start level 3. I have the basics from past work experience many moons ago but need to get back some confidence and practice before jumping into level 3. My first problem lies in which books to get started with to get confident enough for level 3 (I'd like to avoid taking the level 2 exams if possible and just get my head around the basics of level 2 on my own). Shamus, I read your reference to a book by David Cox but couldn't find an up to date version on amazon and I'm wary of buying old copies as so many things in accounts change every year. I have Frank Wood's Business Accounting Book 1 (ninth edition) at home (from the library) but I'm not sure this is the best way forward as you said you rarely refer to your copy. I tried to search for AAT level 2 books on amazon but there were so many and I'm not sure I need to buy and work through all of them. And if I do then do I buy the workbooks and the tutorials and should they be 2013 editions as some of them weren't?
I think what I'm trying to ask is which books are best to buy/borrow that are up to date/relevant/easy to follow that will give me the knowledge of the AAT at level 2 so that I can get started on level 3.
I hope that makes sense and sorry if I sound a little garbled.
with the exception of VAT the third edition of cox is fine.
Whilst VAT is covered in the book it's only a tiny fraction of it so there's no reason that should put you off.
You could match that with the BPP revision companion for units 1-4 (all in one book), again, no need to get the latest version, mine is the 2007 version but again the exception is VAT which is calculated at 17.5% rather than 20% (so *7/47 rather than *1/6 to work out the VAT inherent in a figure).
Get through that lot and you will be well ready for level III... In fact, I still use the Cox book as a reference even now so definitely one of the best acquisitions that I've made.
With the Frank Woods / Alan Sangster book I purchased the two volumes of that one back in 2003 and to be honest found it really hard going at the time. I've also noticed that I seldom find the answers to my questions in that one. That said, it's not a bad book and well worth having on your shelf.... Just not that easy to get into and certainly not one that I would ever consider reading cover to cover.
Basically, Business accounts 3rd edition and most recent edition of the BPP units 1-4 Revision companion that you can find at the most reasonable price and your set up with a sound knowledge base of the entirety of level II.
As you progress it will become more important to have the latest books and in accounting unlike bookkeeping things change regularly, and tax is completely renewed with each new finance act so anything other that the latest version for the tax texts is pretty much usless.
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
the BPP revision book is basically in the format of only questions. They are not particularly difficult questions but more confidence builder types. As an indication of complexity, the book is 618 pages long and you should be able to work through it easily in a weekend!
The reason that I put that one forwards is that if you intend to skip level II the question bank will ensure that there are no gaps in your required knowledge base before starting on level III in eight(ish) weeks time (see later).
The Cox book should be done first. Its 654 pages excluding the index and will take a couple of months to complete.
The Cox book has lots of questions, all well thought out, well paced and builds your skill level by practical application that you can relate to the real world.
There are embedded questions, end of chapter questions and inset pure question revision chapters to test your progress.
Its a book that you will work through, enjoy and refer back to throughout your career.
To keep yourself going set yourself a timetable right from the start of your study (Personally I use an Excel spreadsheet to visualise progress against plan).
Try to allocate at least two hours per day six days per week (always factor in some free time otherwise you'll get study fatigue).
Always take notes... You don't have to use your notes again but the mere fact of writing something down helps move it from short to long term memory.
There are 42 chapters including the question chapters so your aim is seven weeks but factor in the fact that there will be days that you just cannot be arsed to open the book and set your target at completion in eight weeks.
Once complete then do to the BPP revision book and start thinking about starting AAT at level III where you will really build your knowledge .
Regardless of the paper that you are sitting you will continue to use the Cox book through the entirety of AAT and well beyond.
HTH,
Good luck in your studies,
kind regards,
Shaun.
-- Edited by Shamus on Thursday 21st of November 2013 10:35:05 AM
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Shamus thank you for your clear response. I've ordered both books this morning and will get started as soon as they arrive. I'll dip into the Frank Wood book in the meantime. Just out of interest, do the David Cox and BPP books have questions for me to practice with or is it just a case of reading them to familiarise and understand the basics? I'm presuming the David Cox book is a bit like the Frank Wood one but I'm not sure what the BPP book consists of.
