Businesses benefit from new AAT funded accountancy training

Businesses are now able to cover the costs of AAT accountancy training by claiming funds, which are now enrolling for April 2018. Solvo Vir’s new funded accountancy courses, accredited by the Association of Accounting Technicians (AAT), is open for enrolment.

Businesses find that the combination of face-to-face instruction, interactive online tuition and support from trainers improve success rates. As opposed to the typical training regime for these qualifications, which only uses one approach. The qualifications of Level 3 Assistant Account and Level 4 Professional Accounting Technician, will be delivered by a team of trainers, both online and in person.

The benefits of training accountancy staff

The AAT accountancy qualifications provide learners with the knowledge and skills required to produce accurate financial statements. They will also develop an understanding of financial processes. These include: accounting principles and concepts, business issues regarding VAT, management accounting costing techniques and ethical practices for accountants.

However, benchmarking skills with a nationally-recognised qualification is just one of the plus points for learners and employers. Other benefits include more effective teamworking, better employee retention and becoming a more attractive employer to potential new hires.

Funded accountancy courses

Both the Level 3 and Level 4 AAT accountancy courses result in nationally-recognised apprenticeship qualifications. Because of this, funding is available to cover the costs*.

If your organisation has an annual PAYE bill of more than £3million, you will already be paying the Apprenticeship Levy. You can use funds in your levy pot (your DAS account) to pay for our accountancy qualifications. These would otherwise cost £9,000.

Apprenticeships are still the smart way to train accountancy staff, if your business does not qualify for the Apprenticeship Levy. Generous government funding means small businesses pay just 10% of the cost of a Level 3 or Level 4 apprenticeship – £900 + VAT. By comparison, Level 3 or Level 4 Diplomas take comparable lengths of time to complete but are not eligible for co-funding and cost approximately £2700 + VAT each.

Interactive online accountancy training

Students take other elements of the course content online, following the technical aspects in a high-quality virtual learning environment. A series of structured units includes live interactive webinars to give students extra support. When it comes to revision and applying knowledge to exam style questions, students sit live mock exam webinars.

Face-to-face training in accountancy

Face-to-face sessions form an integral part of the training. Expert trainers will take learners personally through the part of the course covering diploma content and functional skills. Solvo Vir trainers all have first-hand accountancy experience, so are able to discuss practical scenarios and bring the theory to life.

Learners will attend trainer sessions, including quarterly reviews/support sessions, on a one-to-one basis, or as a group. Sessions are scheduled to suit the learners and their employers. At all times, trainers work closely with employers to make sure the training is adapted to specific requirements.

Being experts in the apprenticeship funding process, Solvo Vir will help you make light work of the paperwork. Whether you are a larger business paying the Levy, or a smaller business wanting to claim co-investment, you will be supported throughout.

*Note: Under ESFA rules, funding cannot be used to cover registration, exam or professional membership costs.