Hello I am qualified up to Level 3 ICB and also studying for ATT Taxation Technician exams. I don't want to do the AAT, not yet for a while anyway..to busy at the minute.
BUT I do need to study capitalising assets, depreciation and what to do with this in the accounts. Also first year allowances etc. I did do the ICB Diploma in Self-Assessment but the study manual did not go into anywhere near enough detail to apply the information to real work.
So I am after a text book which I can learn how to do/deal with the above, is there a particular part of the AAT that covers this? and if so what textbooks would I need.
I have the Frank Woods textbook but it's very basic and does not go into the detail that I need.
Much of what you need to know is covered under the broad headings of taxation and financial reporting.
You could always try resources for ACCA papers :
F7 Financial Reporting (possibly start with F3 (financial Accounting) and move up to F7)
F6 Taxation (see also my other reply in the ATT thread)
The difference between the F and P level papers with ACCA is that at F level they are aimed at those doing the work and at P level they are aimed at those supervising those doing the work.
F7 coversd all elements of basic financial reporting without going over the top with elements such as part disposals, foreign subsidiaries, etc. that you get at the higher level.
AAT also have a couple of papers that you may find useful.
- Sole Trader & Partnership accounts
- Limited Company accounts
I find the Osbourne books workbooks for the above quite fun to do.
The AAT papers do not even attempt to cover the complexity of F7 and for someone like yourself serious about gaining a good level of knowledge I would go with the ACCA texts rather than the AAT ones... Although, If you are having any difficulties the AAT ones are gentler on the reader.
As an aside, for ACCA study texts my personal recomendation is Kaplan over BPP as their approach is example driven with repetition and variance in set questons. Bpp tends to have a higher element of rote learning.
HTH,
Shaun.
__________________
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.
I think I am going to start with the AAT books as I think the ACCA one's will be beyond me at this point!!
I am looking for them for the work I do rather than to accompany the ATT study. I notice that AAT qualified bookkeepers offer the same services as me, so I assume they have enough knowledge form AAT to cover 'capitalising assets, depreciation and what to do with it in the accounts' (I hope so anyway!!!).
I want to go over it all as I am not convinced that what I am doing is 100% correct, so need to read up asap.
Just had a look in the AAT Limited company accounts workbook and there are some basic questions about capitalisation in there so I'm assuming that to be covered in more depth in the associated study text (I don't have that).
Don't know if you like doing computer based courses but the BPP I-Learn courses are introductions to each paper.
For £20 you could do a course on your computer as many times as you like.
ACCA paper F3 is AAT sort of level for financial reporting (F1, F2 and F3 are basically the bulk of the AAT syllabus).
However, as the course is an introduction to a paper even at F7 it would not be beyond you.
I agree, the books and exams can be a bit scary but the I-Learn courses seem aimed at getting you into the subject before throwing the serious complexities at you (also, BPP recycle the courses. I've found exactly the same materials in their CAT (AAT equivalent) papers as the ACCA one's).
As such its definitely worth considering.
HTH,
Shaun.
__________________
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.
