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Hi Will, I purchased your TPFB mock exam and I really liked that it wasn't a carbon copy of the AAT mocks, but still tested the relevant knowledge! The only thing I don't really understand is how to interpret leaving the flat rate scheme in the reference material, as I've not had it covered in any of the revision material I've done. What does it mean by "On the anniversary of joining"? Will they need to tell you the date of joining in the question so you can work out the anniversary date? And if there is a similar question to Task 1d 13:19 where, instead of the annual accounting scheme, they are asking about when the business must leave the flat rate scheme, what answer do they want - the month the business exceeds £230,000 VAT inclusive total turnover, or on the anniversary of joining the scheme? Thanks!

Clearly explained as always. Thank you.

Hi, Thanks Will this is great. Q= Task 3 (ii) doesn't purchase of inventory increase assets?

Thank you! Explanation and workings were easy to understand and follow.

At 5:54, I’m having trouble understanding why the Employers NI is an expense rather than a liability?

7:29 Hi Will, thank you for this note about only ever increasing boxes 1 and 4 when correcting errors on previous VAT returns. I think I finally understand what they want from these net difference questions. Previously, I didn't understand why my answers were marked wrong in practice questions when I entered it the opposite way around e.g. decrease output VAT instead of increase input VAT (so it has the same net effect on VAT payable/reclaimable) . I just wanted to ask what you mean by 'it is different if it is from the current period"? Are you referring to the fact that VAT on purchase credit notes is a deduction from box 4 and VAT on sales credit notes is a deduction from box 1? Thank you in advance!

Thank you sir you earned a sub ❤

Your video helped a lot, however I didn’t do well in my first mock and I know I should go over and review the answers. My exam is in just over 10 days? What’s the best way to get through this. I study l3 MATS

Will you be doing any videos on Cash and Financial Management?

Bless you! I’ve got all the answers I need for starting AAT! Thanks 🙏 Just a quick question , do I need to have GCSE results done before taking Level 2 courses ? Or it’s not necessary?

Thanks Will!

Would absolutely love a video on what the lvl 4 optional units contain. Especially what the recommendations might be if you are planning to go onto CIMA vs ACCA/ management vs financial. But again, another really helpful video here Will! Thank for everything you do!

Hi Will Q5 'State why they should not speak to the client about it before taking an action to report the behaviour' I wrote, this would be seen as 'tipping off' and for this offence you could receive 5 years imprisonment and an unlimited fine - would I not need to put this as additional information as its not specifically ask what is the punishment but rather, state why they shouldn't? Would I lose marks if I included this also?!

Hi will can u please do the practice assessment 2 for level 2

I don't get it at all. I passed my text book and all the questions but in here I lost 50% . Any advise how to get on proper track ?

what happened if i fill out year 4 and 5?

Thank you

Are you going to do a video on the other Business awareness mock on AAT?

A bit confused of the wastage. It says the wastege is excluded from 2kg usage/unit, so my understanding is additional 10% wastage on the top of 2kg which is 0.2kg/unit, 17100units*0.2kg =3420

Similar problem,got my level 3 now doing level 4 but no luck with job.i was raising my kids and 38 now .its soo hard to get job.

Im a beginner with no experience with bookeeping. I only know the basics about it and my exam is coming soon. I wanted to ask on minute 25:20 Why is the cash sales, VAT and receivable ledger account goes on Credit? I thought receivables goes on Debit. I just wanted a more informative explanation about it. Thank you very much 😊

Sorry to sound stupid - but if the company buys £180.00 worth of stationary, I can understand that the stationaly account has a debit - but why would the bank have a credit? Am I getting confused with the bank 'account' and the bank 'balance' as the bank balance would surely be debited by £180 after spending that amount on stationary as a purchase?

Great job. Is there a video on prepaid expenses?

Hi Will, thank you for these videos, i've been using them for Level 2 and Level 3 and they've been awesome! Just a question regarding Task 2 - Question b We use a learning provider called Mindful and their questions on prepaid expenses include debiting the account with the full amount of the transaction and then crediting the prepaid amount so for example it would be DR 4500 (Bank) and CR 2625 (Prepaid Expenses) Is there a reason why this wasn't included in your answer or why Mindful includes it within theirs? Thanks again!

Thank you Will, you are the best at explaining

Please keep all your vids going, Will. Second career person here. Level 2 & 3 passed, struggling with motivation for Level 4 as I'm now in a non accounting role but determined to finish AAT!

VLOOKUP and HLOOKUP have been superseded by XLOOKUP in MS 365. If you don't have MS 365 then INDEX & MATCH is a far better lookup formula, for large datasets it uses less processing power, and also looks up left to right and right to left, VLOOKUP only looks up left to right.

Amazing as always, thanks Will! Just wondering does the F4 to lock cell values work in an aat exam?

Fab thanks Will, i know your busy but hoping you will do a walk through on a few other excel questions in MATs I.e IF, conditional formatting, charts 😁

Can you do AAT Level 2 in accounting and once completed apply for the AATQB license as you’ve done the 2 units of bookkeeping as well?

Could you please explain the debit and credits for 5c

Are you able to do another AAT mock exam, your explanations are good.

Very helpful, thank you!

Will, i could kiss you. Keep on the good work. AAT till i die

Thank you for such useful videos. I just watched your video on ways of studying aat. I'm thinking to study the book keeping cpurse. For self study which books would your recommend? And could you kindly recommend any providers for the 'Organised self study'? And finally, if I want to enter the work market ASAP,, is it better to study the accounting course or just the bookkeeping course? Thank you

Thank you Will its really very useful.

Amac links are not in the library links

Thank you so much for another fantastic video. Such a big help!

do you have any recommendation in which order the standards should be studied?

my unicorn loves, big red mangos, and then add another 'm' (sounds insane but im using it :D) = M=UxL, B=R-M, M=B+M

Hi Will, in the last question (task 4 f), you explain that a sales return will decrease assets as our trade receivables have decreased, but on the other hand, our stock (inventory) would increase, which is an asset. I am so confused.

Do you have video regarding trial balance adjustments?

this was so helpful tysm😊 but i’m confused as to why receipts are recorded on the credit side could u explain pls!

Great video! Hopefully the Mock 1 practice assessment will be released before my exam🤞 as I find it very helpful !

If you did level 4 via Distance learning would you recommend waiting for results before starting next module (incase you fail exam) or carry on to next module once you've sat your exam? Also which optional choices would you select as the best ones?

What abou if we don’t have enough money ro cover the “issues”

It says in the scenario that our major competitor stopped trading in November, which would account for the significant difference between budgeted and actual sales in December and the trend continuing into January. Would this be OK to mention in my answer? Something like "Following the market exit of one of the competitors, sales increased overtaking budgeted sales numbers by a significant amount. It may be usuful to monitor for similar market changes in the future to react quickly and adjust stock levels when necessary in order to take advantage of the gap in the market. This should also be a factor in budgeting for incoming months, to ensure enough cards are produced, especially around card-centered holidays." Or would this be incorrect as I refer back to the scenario and not the graph only?

When you advise mentioning resigning if the issue is not addressed, can further whistle blowing or reporting the firm/s to external controllers be mentioned as well, or would that we seen as an 'overkill' by the examinator? My instinct would be to resign and tell someone that one company is faking their accounts and another let's them do it, but maybe that's not the escalation process included in the syllabus?

I only just started on this unit and I know it's only one mock (half of one actually) but I found this really easy. I genuinely was able to answer all the questions with the knowledge I have now and common sense... I don't know if it's good or bad, because I am now motivated to book my exam for this year, but I also understand that it can't be that easy, and I am bound to encounter stumbling blocks in the syllabus. Need to rain in the wild horses :) Off to see part 2!