Time for a reset?

AQ2016 ends at the end of September. Nick Craggs gives some sound advice on what you need to do if you are studying the old syllabus

Without trying to be morbid, ultimately everyone’s time comes to an end at some point. But if you are still on AAT’s AQ2016 qualification your time is rapidly coming to an end as AQ2016 finishes on 30 September 2023. You need to decide on a plan as to what you are going to do, and the sooner you do it, the more options are available to you.

So what are your options?

If you have time, you can complete on AQ2016. This is the most straightforward option as you don’t need to worry about new material or getting a new membership. You may need to renew your AQ2016 membership, but there is a three-month grace period where you can still sit exams if your membership has lapsed. Be aware, however, if you sit an exam where there is a six-week wait for your results and you are not successful, you will not be given a second chance after 30 September. Also note that the last windows for sitting the synoptic exams are early in September, so be sure to plan for this.

If you want to complete on AQ2016, there is still time left but the clock is ticking. Therefore, you need to put a plan in place NOW as there is only a few months left, and you will want to avoid losing any of your previous passes. What you need to consider varies at each level.

At level 2, the Bookkeeping Transactions, Bookkeeping Controls and Elements of Costing units will give you exemptions from their equivalent units on AQ2022. However, the Synoptic and Using Accounting Software exams do not have any equivalent units on AQ2022. If you have passed the Bookkeeping Transactions, Bookkeeping Controls and Elements of Costing but not Foundation Synoptic and Using Accounting Software, you need to ask yourself whether you are more than confident that you will pass BOTH Foundation Synoptic and Using Accounting Software units by September. If you just pass Foundation Synoptic but not Using Accounting Software, you will lose your pass in Foundation Synoptic and will have wasted your time and money. Unless you are 100% sure you will pass both exams, then to be safe I would move over now on AQ2022 so there is no risk of losing any passes, and you would just sit the new Business Environment unit instead.

Level 3 is the most complicated. Advanced Bookkeeping and Final Accounts Preparation have been merged into the Financial Accounting: Preparing Financial Statements unit. Therefore, you need to have passed both units to get the exemption on AQ2022. If you have passed only one and have to move over onto AQ2022, you will lose that pass and you will need to sit the large Financial Accounting: Preparing Financial Statements unit on AQ2022. So if you have passed one, do all you can to pass the other, or if you have yet to pass either of these, really consider if you have time to pass both or not before you start.

The costing unit now contains Spreadsheets in a unit called Management Accounting Techniques. To get this exemption you need to have passed both Management Accounting Costing and Spreadsheets. If you have only passed Costing but not Spreadsheets, for example, you will lose your pass in Costing, and vice versa. Therefore, do all you can to pass both units to obtain the exemption on AQ2022, or don’t start either of them.

There is no equivalent unit for Advanced Synoptic on AQ2022 so it doesn’t carry over onto Q22. Unless you complete all the units on AQ2016 before the end of September, you will need to move over onto AQ2022 and you will lose your pass in Advanced Synoptic and have to sit the Business Awareness unit as well as the other units you didn’t complete.

Level 4

Level 4 is very straightforward, every unit will achieve an exemption for the corresponding unit on AQ2022, including the Synoptic. The only issue is that you need to have passed both Budgeting and Decision and Control to gain the exemption from the Applied Management Accounting unit.

If you have only passed one unit out of Budgeting and Decision and Control and you move over onto AQ2022, then you will lose this pass and you will need to sit the large Applied Management Accounting exam. Therefore, ensure you have passed both units before the end of September. If you have yet to pass either of them I would advise not to start to study them as you are going to run out of time to pass both.

Be aware that if you have any units on the level you are currently on that were passed on AQ2013 will not carry over onto Q2022 and you will lose them. You need to finish that level by the end of September or accept that you are going to lose the units passed on AQ2013.

Any completed levels on AQ2013 or AQ2016 are safe, it is only your current level that you need to consider.

The key message I want to stress is for you to not panic! However, time is running out and a plan needs to be put in place now. Everyone’s circumstances are different so if you are not sure what to do next, please contact your tutor. We do not want you to create any extra work for yourself by losing any previous passes and above all, we want you to have a smooth transition onto the new syllabus.

• Nick Craggs, AAT distance learning director, First Intuition

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