AAT AQ22 Qualification Explained

AAT is about to implement its new syllabus from September 2022, which was long pending due to COVID and other factors. Here’s all you need to know about the AQ22.

AQ22 or “Qualifications2022” is a newer version of bookkeeping and accounting qualifications that will replace the current AQ2016. It will come into effect from 1 September 2022.

This change will ensure the qualifications are relevant and up-to-date with employer and industry requirements.

The key dates you should know:

• 31 August 2022 – last date of registration under AQ2016
• 1 September 2022 – All registrations will be for AQ22 from this date
• 30 September 2023 – Last assessment date for AQ2016

Many changes have been brought about to make accounting professionals ready for future business environments. Moreover, AQ22 also stresses on the efficiency of qualifications.

Some of the major changes are:

• Qualifications names will change from Access, Foundation, Advanced and Professional to Level 1, Level 2, Level 3, Level 4.
• Three qualifications are withdrawn: Access Award in Accounting Software, Foundation Award in Accounting Software and the Foundation Diploma in Accounting and Business.
• Level 2 and Level 3 Certificate in Bookkeeping qualifications will be graded on the basis of weighted results from unit assessments. And you’ll get a grade of Pass, Merit or Distinction.
• Guided learning hours have been reduced for Level 3 and Level 4.
• Now, only the Level 2 Certificate in Accounting will include a synoptic assessment.
• Discontinuing annual memberships, students will now need to pay just a one-off registration fee for access to the qualification for its lifetime (i.e., 4-5 years).
  However, you will still have to pay for your assessments when booked.
• Now only Level 2 Certificate in Accounting will have a re-sit restriction for students aged 16-19 years old.
• Introduction of new units to
  • Level 2 Certificate in Accounting: The Business Environment, and
  • Level 3 Certificate in Accounting: Business Awareness.
• Some units have been merged:
  • For Level 3 Certificate in Bookkeeping- Advanced Bookkeeping and Financial Accounts Preparation merged into Financial Accounting: Preparing Financial Statements.
  • For Level 4 Diploma in Professional Accounting: Budgeting and Decision & Control are merged into Applied Management Accounting.

Four exams for AAT Level 2 Certificate in Accounting:

• Introduction to Bookkeeping
• Principles of Bookkeeping Controls
• Principles of Costing
• The Business Environment

Four exams for AAT Level 3 Diploma in Accounting:

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

And, Five exams for AAT Level 4 Diploma in Professional Accounting: (3 mandatory + 2 optional units):

The mandatory units are:

• Applied Management Accounting
• Drafting and Interpreting Financial Statements
• Internal Accounting Systems and Controls.

The optional units are:

• Business Tax
• Personal Tax
• Audit and Assurance
• Cash and Financial Management
• Credit and Debt Management.

Two exams for AAT Level 2 Certificate in Bookkeeping:

• Introduction to Bookkeeping
• Principles of Bookkeeping Controls.

And, Two exams for AAT Level 3 Certificate in Bookkeeping:

• Financial Accounting: Preparing Financial Statements
• Tax Processes for Businesses.

The AAT Registration fees for accounting qualifications, payable to AAT within 4 weeks of enrolment are:

AAT Registration fees for AQ22

• Level 2 Certificate in Accounting – One-off registration fee – £172
• Level 3 Diploma in Accounting – One-off registration fee – £225
• Level 4 Diploma in Professional Accounting – One-off registration fee – £240

AAT Registration fees for Bookkeeping qualifications payable to AAT:

• Level 2 Bookkeeping: One-off fee of £65
• Level 3 Bookkeeping: One-off fee of £90

You have two options here:

• Either you continue your studies with AQ2016. For this, you’ll have to pay for annual memberships and successfully complete the assessments by 30 September 2023.
• Or, you can transfer to equivalent AQ22 qualification. However, there are some transition rules to be aware of:
  • You may be eligible to pay a one-off transfer fee instead of the one-off registration fee, if:
    • you have an active AAT student membership, and
    • have completed at least one of the AQ2016 qualification assessments.
  • If you have completed assessments on AQ2016 and transfer to AQ22, the achieved percentage result directly transfers, with some exceptions in the merged units.
  • Not all units are transferable if they don’t have any equivalents in the new AQ22. So, if you stand to lose any significant exam passes, you should continue with AQ2016.

Learn in detail about the units you can transfer from AQ2016 to AQ22.

Check this tool below to find out which units you can transfer from AQ16 to AQ22.

What should I choose: AQ2016 or AQ22?

If you’re a new student, go with the new AQ22 syllabus.

If you are midway through your studies under AQ2016, you can simply transfer over to the new qualification. However, you should decide on it only after knowing about the transition rules.

What happens to my AAT student membership?

If you’re studying under AQ2016 and are due on your annual membership, you’ll just have to renew your annual membership as before.

However, if you’re starting with the new AQ22, you need to pay a one-off registration fee for each specific level, which gives you the membership for its studying duration. Annual memberships are discontinued in AQ22.

If you are transferring to AQ22, you can just pay the one-off transitional fee (shown below) if you’re eligible.

Note: You still have to pay the assessment fees for each exam.

Learn more about the AAT AQ22 Exam Fees

What are the transitional fees?

• AQ2016 Foundation Certificate/Diploma in Accounting to Q2022 Level 2: £50
• AQ2016 Advanced Diploma in Accounting to Q2022 Level 3: £75
• A2016 Professional Diploma in Accounting to Q2022 Level 4: £100

Osborne Training is an AAT-approved training provider. We have ample years of experience supporting our students to achieve AAT qualifications which have helped us gain a high approval rating among our students.

We understand that moving to the new qualifications is a daunting process. But fret not. We’re here to support and advise you at every step of your journey.

Feel free to reach out to us for any of your queries via the form on our Contact us page.