Syllabus

This Level 3 Accounting qualification will equip you with a range of essential and advanced accounting disciplines and techniques. You’ll gain the skills and knowledge to maintain cost accounting records and perform advanced bookkeeping.

Throughout the course, you’ll learn various financial processes and how to prepare financial reports and returns. The Level 3 Accounting course includes the following four units:

• Business Awareness
• Financial Accounting: Preparing Financial Statements
• Management Accounting Techniques
• Tax Processes for Businesses

1. Business Awareness

You will gain an understanding of businesses, their environments, and the factors that influence an organisation’s structure. You’ll analyse the purpose and types of businesses and the rights and responsibilities of key stakeholders. Additionally, you’ll learn about the accounting function and its performance.

This unit will also cover the importance of professional ethics and ethical management within the finance function. Upon completion, you will understand:

• Business types, structures, and governance
• The legal framework in which businesses operate
• How external and internal environments impact business performance and decision-making
• The principles of professional ethics in business and accounting
• The impact of new technologies on accounting and the associated data security risks
• How to effectively communicate information to stakeholders

2. Financial Accounting: Preparing Financial Statements

You will learn how to produce profit or loss statements that reflect the financial positions of sole traders and partnerships, using trial balances. This unit will also cover the recording of financial transactions using a manual bookkeeping system, where you will develop valuable double-entry bookkeeping skills. The outcomes include:

• Understanding accounting principles underlying the preparation of final accounts
• Advanced knowledge of double-entry bookkeeping principles
• Implementing acquisition and disposal procedures for non-current assets
• Preparing and recording depreciation calculations
• Recording period-end adjustments
• Producing and extending a trial balance
• Creating financial statements for sole traders and partnerships
• Interpreting financial statements using profitability ratios
• Preparing accounting records from incomplete information

3. Management Accounting Techniques

This unit will equip you with the skills and knowledge necessary for a role in management accounting within an organisation. You’ll learn how management accounting information is utilised in decision-making, along with the principles that underpin management accounting methodologies and techniques. You will also explore cost management and the reasons why organisations treat costs differently. The unit outcomes include:

• Understanding the purpose and use of management accounting within organisations
• Applying cost-handling techniques
• Attributing costs according to organisational requirements
• Investigating deviations from budgets
• Using spreadsheet techniques to provide management accounting information
• Applying management accounting techniques to aid short-term decision-making
• Understanding cash management principles

4. Tax Processes for Businesses

This unit focuses on the tax processes that influence daily business operations. You’ll develop skills in understanding, preparing, and submitting Value Added Tax (VAT) returns to HMRC. Additionally, you’ll learn how to ensure compliance with VAT and payroll laws and practices for businesses, employers, and clients. Upon completion, you will be able to:

• Understand VAT legislation requirements
• Calculate VAT
• Review and verify VAT returns
• Understand payroll principles
• Report information accurately within an organisation.

Remote learning delivery options

Khpalwaak's distance learning delivery is perfect if you prefer independent study at your own pace, allowing you to work towards your qualification on a timeline that suits you. This flexible approach fits seamlessly into your daily life.

We will provide you with study materials, assignments, and practice resources aligned with AAT requirements. Our dedicated tutors and support staff will assist you throughout your distance learning experience via our online student portal.

Assessments

This qualification is completed through two mandatory unit assessments, with 100% of the qualification assessed by externally marked exams. All assessments for this qualification are:

• Computer-based
• Set and marked by the AAT
• Time-limited
• Conducted under controlled conditions
• Scheduled by training providers or assessment venues

Assessment Schedule

You can book your assessments when you're ready. You can sit for the assessments once you have completed the course, as they are available at specific times throughout the year.

Grading

To successfully complete the qualification, you must pass both mandatory unit assessments for bookkeeping and all 4 mandatory assessments for accounting. The AAT will award grades based on your overall performance across the qualification, rather than on individual units. The final grades are:

- Distinction
- Merit
- Pass

Results

You will receive your results immediately for bookkeeping subjects and in up to 6 weeks for accounting subjects, which can be accessed through your AAT portal under the "See Your Progress" section.

Resits

You should only take an assessment when you are fully prepared to pass. There are no restrictions on the number of resits you can take, giving you the flexibility to retake assessments if needed. If you do not pass an assessment, you will have the opportunity to discuss your results with your tutor and prepare for a retake accordingly.