Units and Assessment

Level 4 units

Units at this level develop the relevant knowledge, skills and awareness needed in the accountancy and tax regulatory environment. You will also study the operational requirements for the accounting and finance function and learn what is expected of a professional accountant. These units are suitable for those who:

• are entering the profession
• are wanting to build on their experience by undertaking a formal study pathway to membership of the IFA
• are wanting to progress to study Level 5 units

Financial Accounting 1

The aim of this unit is to develop the financial reporting skills of those who manage or seek to manage the day-to-day finances and financial needs of small and medium-sized enterprises (SMEs) and small and medium-sized practices (SMPs). The unit will develop the learner’s ability to prepare financial statements according to the International Accounting Standard for Small and Medium-sized Entities (IFRS for SMEs) and to interpret financial statements prepared according to that standard.

Financial Accounting 2

Learners will develop the ability to prepare financial statements according to the International Accounting Standards for Small and Medium-sized Entities (IFRS for SMEs).Learners will gain the knowledge and skills required to enable them to measure performance and assess the financial position of small and medium-sized enterprises (SMEs) and small and medium-sized practices (SMPs).

Budgetary Control

The aim of this unit is to develop the knowledge and ability to identify and evaluate sources of finance, manage and improve working capital, prepare budgets for functional departments and understand the importance of budgetary control for small and medium-sized enterprises (SMEs) and small and medium-sized practices (SMPs).

Cost and Management Accounting

Learners will learn the skills to provide relevant information for short-term and long-term decision making, and costing and pricing whilst ensuring that employees are motivated to achieve individual objectives and the objectives of the business as a whole.

Personal Taxation

The aim of this unit is to enable learners to understand taxation as it affects individuals. The unit will focus on income tax, National Insurance (NI) contributions and capital gains tax.

Business Environment

The aim of the unit is for learners to consider the wider business environment. It will build on the work covered in the financial accounting units and consider the different forms of legal business ownership. The unit will consider the needs of different business stakeholders and their impact on business decision making. and provide learners with an understanding of ethics in accounting and business and how these influence business decisions.

Law for Accounting

The aim of the unit is to develop an understanding of how English law impacts on business organisations and professional accountancy practices.

Level 5 units

These units have been designed to develop the understanding and skills of the regulatory requirements for tax and accountancy and how these frameworks are applied in the workplace. Learners completing these units will build on their understanding of what is expected from a professional accountant at work and be able to produce and interpret a full range of financial information and accounts. These units are suitable for those who:

• have completed an accountancy qualification at Level 4 or the IFA Direct Level 4 units
• are part-qualified leaners seeking a pathway to membership of the IFA

Financial Reporting

The aims of this unit are to ensure that learners have a sound understanding of the techniques of double entry accounting and can apply its principles in recording transactions, adjusting financial records and preparing non-complex financial statements. On completion, learners will also be proficient in the use of double entry accounting techniques and the maintenance of accounting records. They will also develop the ability to identify and correct omissions and errors in accounting records and financial statements. Learners will be able to specify the components of financial statements and prepare and review non-complex accounts for a range of different business structures including sole traders, partnerships and limited companies.

Financial Management

• The unit aim is to develop the financial management skills for those who manage or seek to manage the performance, risk and financial decision-making needs of small and medium-sized enterprises (SMEs) and small and medium-sized practices (SMPs). The unit will give an understanding, application and analysis of the funding and management of capital within an organisation. In particular it will focus on the management and evaluation of investment appraisal decisions. Organisational performance, and recommendations for its improvement and growth, will also be analysed.
• Learners will be able to apply investment appraisal techniques to investment decisions and make recommendations. They will also be able to use valuation models and cost of capital models to determine the value of an organisation and its capital structure cost and manage foreign exchange risk, credit and gearing. Learners will be able to apply techniques to evaluate and made recommendations for the management of performance, resources, capital structure and risk.

Financial and Management Control

The aim of this unit is to develop the financial management skills of those who manage or seek to provide information for performance management, continuous improvement, budgetary and financial control and the management of internal risk in small and medium-sized enterprises (SMEs) and small and medium-sized practices (SMPs).

Learners will be able to use analytical tools to evaluate performance and to make recommendations about continuous improvement in an organisation. Learners will also be able to use techniques to implement budgetary and financial control and evaluate and manage internal risk.

Business Taxation

The aim of this unit is to enable learners to understand taxation as it affects small and medium-sized enterprises (SMEs) and small and medium-sized practices (SMPs). It provides learners with the skills to prepare basic tax computations and advise others of the effects of taxation and impact of tax on decision making.

Assurance

The aim of this unit is to give learners an understanding of the assurance process in the accountancy industry. Learners will gain an insight into the internal controls and evidence gathering requirements when completing an assurance engagement in practice.

Level 7 units

These units have been designed to provide the advanced knowledge and skills required by senior finance professionals. These units are suitable for those who:

• have completed an accountancy qualification at Level 5 or 6 or the IFA Direct Level 5 units
• are part-qualified learners seeking a pathway to membership of the IFA

Corporate Reporting for Strategic Business – Advanced

• This unit will ensure that learners are able to examine corporate reporting from a number of perspectives, i.e. the preparer of corporate reports and from the perspective of a variety of different stakeholders such as finance providers.
• Learners are required to have a cohesive understanding of the International Accounting Standards Board’s (IASB) Conceptual Framework for Financial Reporting and to use the framework as a basis for judgement in applying International Financial Reporting Standards in corporate reports. 
• On completion of the unit, learners will also be proficient in the assessment and evaluation of the reporting decisions made by management and their implications for a range of stakeholders and entities. The unit also explores the professional and ethical responsibilities of the accountant to these stakeholders.
• Learners will consider both the principles and practices of International Financial Reporting Standards (IFRS) and use these principles as a basis for the preparation of the financial statements of single entities and groups. By reflecting on the usefulness of corporate reports to stakeholders, including developments in narrative reporting such as integrated reporting, learners will be able to discuss the nature of the information that would help various stakeholders.

UK Taxation for Business and Individuals – Advanced

• The aims of this unit are to ensure that learners have a detailed understanding of the techniques of the key aspects of taxation. It will extend the learner’s knowledge of the tax system, together with the ability to apply that knowledge to the issues commonly encountered by individuals and businesses in the UK. This knowledge will allow learners to interpret and analyse the information provided and communicate the outcomes in a manner appropriate to the intended audience.
• The unit builds on previous taxation study and extends the knowledge of income tax, corporation tax, capital gains tax and inheritance tax to encompass further overseas aspects of taxation, the taxation of trusts, and additional exemptions and reliefs.
• The unit does not focus in detail on the numerical and computational aspects of taxation, but seeks to develop a learner’s ability to analyse, interpret and communicate taxation information. Computations and practical examples will be used to support explanations and client advice.

Final assessment

At the end of each unit the centre you are studying with will send you a set piece of written work to complete and submit. The written assessment provided by your ATHE recognised centre will give you an opportunity to demonstrate both your knowledge and understanding of a topic and how you might apply that knowledge in a given context. 

Achieving a pass, merit or distinction

• Pass – To achieve a pass, you must successfully achieve the learning outcomes at the pass standard as set by the assessment criteria for the unit. The assessment criteria is detailed in the individual syllabus which you can find on the syllabus aims page. 
• Merit – To achieve a merit, you must work to meet the pass standard and also demonstrate that you have achieved the additional criteria set for the unit as detailed in the individual syllabus. 
• Distinction – To achieve a distinction, you must work to meet the pass and merit standards and also demonstrate that you have achieved the additional criteria set for the unit as detailed in the individual syllabus. 

Points required to achieve a pass, merit or distinction

Credit value	Pass points required	Merit points required	Distinction points required
15	40	53	66
20	40	53	66
30	80	106	132