AAT - Financial Statements


Studying for the AAT Financial Statements exam

The content of this Knowledge Bank is not designed to be a substitute for a structured system of study towards the exams but rather should help complement your chosen study system.

In particular,

  • we do not guarantee full syllabus coverage,
  • the content here is not necessarily pitched at the right level of difficulty for your exam - in particular, in some areas, it may go beyond what you need,
  • the knowledge bank focusses on knowledge, concepts and ideas but has very few worked examples or graded exercises for you to practice,
  • there are no past exam questions here to attempt
  • examiner's articles and other official guidance are not repeated here.

We highly recommend that you complete a structured course of study and obtain text books and exam kits to improve your chances of exam success.

Using the Kaplan Financial Knowledge Bank

The main benefits of the way the content is presented and accessed via the Knowledge Bank are as follows:

  • a quick answer to a quick question - if you have a  query then you should be able to access a trusted answer quickly and efficiently using either the search function, the top navigation bars or /and the side navigation.
  • integrated knowledge - examiners often criticise students for not appreciating how different topics fit together. By following the structured links and navigation bars in the content, you can explore related concepts to integrate your knowledge.
  • assumed knowledge - you can revise assumed knowledge from lower papers by searching for the relevant topics and reading around the subjects.

The AAT Financial Statements syllabus

A good page to start on if you are unclear where to begin would be the overview Financial Reporting page.

Other useful starting points for exploration are linked to syllabus areas below.

The syllabus for Financial Statements is split into 5 main learning outcomes (LOs):

LO1 Understand the regulatory framework that underpins financial reporting

There are a numbers of pages of importance to this LO, notably the ones on the Context and Purpose of Financial ReportingThe Conceptual Framework , the Regulatory Framework and the Structure of the IFRS Regulatory System.

LO2 Understand the key features of a published set of financial statements

Start with the overview Financial Statements page before exploring the pages on The Statement of Financial Position, The Statement of Comprehensive Income and the Statement of Cash Flows.

LO3 Draft statutory financial statements for a limited company

The same pages referred to under LO2 are relevant here.

LO4 Draft consolidated financial statements

The knowledgebank contains considerable detail on consolidations. Start with the Consolidated Financial Statements page and use it as a springboard to explore the related topics using the menus.

LO5 Interpret financial statements using ratio analysis

Considerable detail can be found on the Interpretation of Financial Statments page. Make sure you explore the different categories of ratio analysis shown in the top menu.

Created at 12/5/2013 10:30 AM  by System Account  (GMT) Greenwich Mean Time : Dublin, Edinburgh, Lisbon, London
Last modified at 12/17/2013 10:54 AM  by System Account  (GMT) Greenwich Mean Time : Dublin, Edinburgh, Lisbon, London

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