Level 5
Level 5 Qualifications for Qualified Accounting Technicians (QAT)
NOTE: These Qualifications are currently NOT regulated in the United Kingdom.

Qualifications in this group provide a number of Core Essential Skills that you can add to those you have gained at Level 4. They are ideally suited to supporting your application to become a Registered Qualified Accounting Technician. These qualifications further enhance your portfolio of skills that you require in order to progress to becoming a Registered Qualified Accountant (RQA).
Qualified Accounting Technicians (QAT) will be regarded as more senior than Graduate Accounting Technicians and will be further qualified in aspects of Law, IT, Audit, and Taxation. They may typically find themselves employed in various sized organisations as more experienced junior accountants, perhaps in charge of small departments, or specialising in particular reporting roles. Again, they may be self-employed book-keepers, perhaps employing other book-keepers within their business, and preparing the basic accounts for small businesses and other self-employed persons.

Level Descriptor

Achievement at this level reflects the ability to identify and use relevant understanding, methods and skills to address broadly-defined, complex problems. It includes taking responsibility for planning and developing courses of action as well as exercising autonomy and judgement within broad parameters. It also reflects understanding of different perspectives, approaches or schools of thought and the reasoning behind them.

The table below describes the Qualifications available at this Level:

Level 5 Qualifications for Accounting Technicians
Unit Title (Exam Code) Credit Value GLH Level
Information Technology (2.1) 10 100 Level 5
Business Law (2.2) 10 104
Audit (2.3) 10 101
Taxation (2.4) 8 80
Total Credit Value: 38 385
Exam Unit: Information Technology (2.1)

Learning Outcome

To demonstrate a sound understanding of how computers work and to gain an understanding of the importance of Information Technology within everyday business.

Boot Up Processes:
1. Types of computer hardware
2. The BIOS
3. Operating Systems

1. Programming Languages
2. Windows
3. Software Applications

1. Transistors
2. RAM
3. Microprocessors

Data Storage:
1. Disk Storage
2. Floppy Drive
3. Hard Drives
4. Removable Storage

1. Basic printers
2. Advanced Printers

Input/Output Devices
1. Energy into Data
2. The BUS
3. Ports
4. The keyboard
5. The display
6. Pointing devices
7. Modems
8. Scanners and OCR
9. High-Tech Input/Output

2. Sound
3. Video
4. Virtual reality

The Internet:
1. Local Area Networks
2. Internet connectivity
3. E-Mail
4. Internet video and audio
5. The World Wide Web

Exam Unit: Business Law (2.2)

Learning Outcome

To demonstrate a sound understanding and knowledge of the core elements of Business Law together with a general appreciation of other related topics of importance to business organisations. To demonstrate an understanding of those aspects of the legal system which are directly relevant to the day to day running of any business.

English Legal System:
1. The system of courts and the administration of justice
2. Case law and legislation
3. Impact of EC legislation
4. Common law - Customs and precedents
5. Statutory interpretation

Law of Contract:
1. Formation, intention, consideration
2. Terms, standard form, exemption clauses
3. Discharge of contract
4. Remedies for breach
5. Mistake, misrepresentation, illegality and contracts contrary to public policy
6. Restraint of trade

Sale of Goods:
1. Implied terms
2. Transfer of possess and property
3. Performance and remedies for failure to supply

Law of Agency:
1. Principles of agency with special reference to the authority of persons to act on behalf of others, particularly companies and partnerships

Employment Contracts:
1. Contract of service and for services
2. Unfair and wrongful dismissal
3. Redundancy
4. Remedies of employees

Corporate Formation:
1. Legal persons
2. Company registration
3. Memorandum of Association
4. Articles of Association

Corporate Administration:
1. Board meetings
2. Annual and Extraordinary General meetings
3. Company resolutions

Corporate Finance:
1. Raising share capital
2. Maintenance of share capital
3. Loan capital

Corporate Management:
1. The Board
2. Directors duties
3. Majority and minority shareholders
4. Company secretary

Exam Unit: Audit (2.3)

Learning Outcome

To demonstrate an understanding of the nature and scope of scrutiny in such detail as will enable the auditor to form an opinion as to the accuracy, truth and fairness of records and accounts. The Learner will be able to demonstrate knowledge of the procedural aspects of auditing and internal auditing, the legal liability of auditors, investigations, specialised assignments, and an awareness and understanding of modern techniques and practices used in internal auditing.

Scope and Purpose of Audit:
1. The development of modern auditing
2. The ethical base of auditing
3. Social concept of modern audit and auditors role

Regulatory Framework:
1. Auditing standards, legislation, case laws, European Directives, Financial Services Act
2. Role of the Government and DTI, Audit Commission, National Audit Office, Recognised Supervisory Body (RSB), Recognised Professional Qualifications (RPQ), Independent Accountant
3. Supervision and monitoring of auditors

Principles and Concepts:
1. Integrity and confidentiality
2. Verification of vouchers and documents
3. Due care, skill and competence
4. Audit planning, supervision and risk
5. Audit report

Framework and Planning of Audit:
1. Application of auditing standards and guidelines
2. Professional obligations and legal liability of auditors
3. Auditors' responsibility for the detection and reporting of fraud
4. Developing the audit plan

5. Determining the areas of risk and analysing information

Collecting and Analysing Evidence:
1. Collecting, selecting and analysing evidence
2. Sampling techniques for audit purposes
3. Co-operation between internal and external auditors
4. Need for and limitation of use of specialists

Overview of Internal Auditing:
1. Definition of internal auditing
2. Internal auditing as a profession
3. Internal control and reporting

Auditing Procedures:
1. Preparing the audit programme
2. Determining the internal control system
3. Test checks of the system and evaluation of test results
4. Review of management accounts
5. Role of working papers
6. Analytical review
7. Computer and audit
8. Reliance on other auditors for group accounts
9. Management certificates/letters
10. Review of financial statements

Audit Reports:
1. Small and medium sized companies
2. Group accounts
3. Abbreviated accounts
4. Qualified and unqualified reports
5. Report to management on internal controls and polices
6. Writing style

Audit Techniques:
1. Systems approach to auditing
2. Internal Control Questionnaires
3. Document flowcharting
4. Audit interviewing
5. Communication audit findings and recommendations

Management of Internal Auditing:
1. The report line and other reporting relationships
2. Risk analysis
3. Quality and quality audit
4. Value for money from internal auditing
5. Audit committees
6. Internal audit and the future

Exam Unit: Taxation (2.4)

Learning Outcome

The Learner will be able to demonstrate knowledge of the principles of the various taxes and be able to apply such knowledge to practical situations involving the minimisation of actual and potential tax liabilities of individuals and corporate bodies.

Corporate Business:
1. Scope of corporation tax
2. Residence
3. Profits chargeable to corporation tax
4. Chargeable gains
5. Calculation of the corporation tax liability
6. Overseas aspects
7. Group companies
8. Self assessment system
9. Sales tax (VAT)

Unincorporated Business:
1. Basic income tax computation
2. Self assessment system
3. Schedule D
4. Capital gains tax
5. Sales tax (VAT)
6. National Insurance

1. Employment income
2. Occupational pension schemes
3. National Insurance

Tax Planning:
1. Employment v self-employment
2. Remuneration
3. Business medium
4. Incorporation of a business
5. Disposal of a business
6. Directors and shareholders

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