AAT - Internal Control and Accounting Systems (ISYS)

Introduction

Studying for the AAT ISYS 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 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 ISYS syllabus

 The syllabus for ISYS is split into 6 main learning outcomes (LOs):

LO1 Understand the role of accounting within an organisation

The best pages to start with are the ones on Accounting and Financial Statements. Make sure you also explore the related pages shown on the menus at the top and RHS of the page.

LO2 Understand the importance and use of internal control systems

The best page to start with here is the one on Internal Systems of Control. Make sure you also explore the related pages shown on the menus at the top and RHS of the page.

LO3 Evaluate the accounting system and identify areas for improvement

Start with the main page on Documenting and Testing Accounting Systems before moving on to the page on Reporting Deficiencies in Internal Control Systems.

LO4 Conduct an ethical evaluation of the accounting systems

The knowledgebank contains considerable content on ethics and a good place to start would be on the main page on Ethics. However, the knowledgebank does not currently contain specific content on conducting an ethical evaluation of an accounting system.

LO5 Conduct a sustainability evaluation of the accounting systems

The knowledgebank contains considerable content on CSR and sustainability and a good place to start would be on the main page on Social and Environmental Issues. However, the knowledgebank does not currently contain specific content on conducting a sustainability ethical evaluation of an accounting system.

LO6 Make recommendations to improve the accounting system

The knowledge required to answer exam questions that ask you to recommend improvements will come directly from the specific question scenario, together with the detail covered in pages referred to under the other LOs.

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Tags:	AAT;Internal control and accounting systems;ISYS