In light of something Shaun said to a poster, I decided to have a go at this, and they advised level 2, which is the first level I am intending to do anyway.
Passed with flying colours on the Office admin and IT skills, but failed miserably on Financial transactions and Double Entry Bookkeeping.
No problem with the DE, as the last time I did it manually was in 1977 at college, and i never fully got my head round it then.
Failing the financial transactions was a bit of a surprise (2/5) but one of the questions they say is wrong I'm sure is right.
Choose the correct closing balance of the account. An expense account has the following transactions recorded in it: Opening debit balance of £100, Debit transaction of £500, Credit transaction of £150
Multi choice answer. I put £450 debit, they say its £450 credit, and I can't see how.
One question I got wrong because I was trying to be clever, and didn't read all the question properly, but looking at the correct answer I think AAT have got it wrong too (or more probably haven't updated it in light of the VAT rule change in April 2015) My answer would have been £4000 if I'd been paying attention properly
but there was another question , which in my opinion, didn't have enough info to arrive at an answer, but there was no guarantee I would have got it right anyway. If anyone wants a stab at it, its the first attachment
-- Edited by Leger on Thursday 10th of September 2015 11:42:49 PM
Hi John
Oh nooooo - reckon you mightve passed had it not been for two questions. I get debit too - so unless we have both gone bonkers thats a typo! The second - they are still working on the old system (and probably should tell you that!!) .
The third does not have enough info - I suspect the other half of the question might be in a connected question - ie number 27?
As the courses can be quite costly to do the whole levels there are several ways you can keep the cost down - if you dont need access to Lectures try their basic package or perhaps go even cheaper still, given your background, with the book that Shaun recommends - although the price has gone up from 1p + postage!!!! (clearly quite a few people have taken his advice - wonder if he is on commission)
Phew thanks Joanne, I thought I was going crackers (well I am but that's another story lol)
I thought about the connected number as well so I went back to the previous question and it isn't connected. Its my guess there's a total missing and the difference between the two is £350, with you deciding why.
Will get that book on Monday, I have some books I bought for the level 2 last year but still haven't got around to studying, as life keeps getting in the way, but fingers crossed I plan to start in October.
Going to do Level 2 self study then levels 3 and 4 through one of the training bodies, using the 24+ scheme (think I'm just about old enough to qualify hahahaha)
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Its bookkeeping so things do not change dramatically between versions although worth noting that the VAT rate used will be 17.5% (so use the *7/47 method)
Just took a look at that question and completely concur with the missing figure.
That was a real lottery question. Take a willd guess and 25% of you are likely to get it right.
Good luck on the studies matey. You will sail through level II and then really enjoy level III / IV.
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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.
Oh Shaun - I knew you would find one cheaper, I just went for the first link I found, in part as I was trying to do my hair and get my slap on for client visiting, whilst answering on here!
John - we are all nuts - have to be to do this job. Although there are a few others out there too - a pal of mine signs off all his emails with "I'm not crazy..... my reality is just different than yours" which I might pinch for my sign off on BKN! If you hadnt have wanted to complete Level 2 I think you would have just cause to telephone the AAT and complain as you wouldve passed but for their 'daftness'. Disappointed to hear you are so old - I had a vision of a 21 year old in my head
Now get on with studying those books and signing up!
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Ah drat, I've gone and ruined your illusion of a handsome 21 year old, but then again you've seen the photo's, so where you got that illusion I've no idea
Yep it's all in hand for October, and I plan on setting the same time aside each week so I get into a routine.
I do want to start at Level 2, because all my experience is self taught, and I just want confirmation of my skills. As Shaun says, level 3 is where the fun will begin!!
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
I hate those skillcheck questions. Things I know how to do always trip me up due to the wording. Just checked my AAT IndirectTax study guide and I think you re right in that they haven't updated for the new legislation.
Haha John - no! Well not with Kaplan. My son is doing AAT level 2 and someone on his lecture asked the question - lecturer said that they didnt need to learn the new method as it wasnt on the exam. Kaplan's view is all about passing the exam - or maybe thats just the odd lecturer! There was for eg a comment about payroll - just parrot fashion learn the entries required for the exam, but then you can forget it as it doesnt come up on the course again.
I agree with you Alison about being tripped up by the simplist of things due to the wording - I think its just the fact that its a test or exam just makes me go blank! Always been like that.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
