What exactly is competence? [Archive]

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BenJR

02-12-03, 01:00

In the AAT (Intmd) exam, the exam paper said you have to show competence in both sections. ... If, for example, your TB did not add up - as you miscalculated something in the incomplete records section; how severely would you be penalised? Reason being, my TB did not add-up, so I must have miscalculated a figure somewhere.... would this make me "incompetent" (although I did enter a suspense line). This may have been the only mistake I made, but it would have affected my answers across various sub-sections, so basically... just how much would I be penalised?? Any feedback would be appreciated (!) Ben

smcgiff

03-12-03, 01:00

Hello Ben, I'm 100% certain that if your ETB didn't balance because of one error then you will pass. Similarly, if you fail you can be pretty sure you made more than one mistake. Only the AAT can answer the question as to what is the tolerable number of mistakes. But they wont. But I take your point - Are you incompetent even after one mistake? The answer is no. Especially at intermediate stage, your work would not be expected to be passed onto the client without a supervisor checking it. If the supervisor is given confidence by what you have produced, then he should only have a few changes to make before passing it on. If you make serious errors like posting Basic entries as a debit when they should be credit, such as sales, then the examiner may decide you are not competent. Competence in accountancy (as opposed to the work of a Brain Surgeon) is subjective, depending on level of examination, presumed supervision etc. Best of luck Seamus

BenJR

03-12-03, 01:00

Thanks for the response Seamus, appreciated. I have a niggling feeling I may have made more than one mistake in producing the TB. I have generally found the incomplete records topic relatively easy, so for the first 3/4 sub-sections I would have been fine. All of my calculations were clear and my work was well presented. I found the 2nd section quite easy - I've never really had a problem doing partnership accounts, so feel 99% sure I was competent in that section. Roll on February! Ben

DReid

03-12-03, 01:00

Just to add to the comments made by Seamus, competence is assessed by the examiners who use ' a marking matrix' to ensure that there is a standardised approach to marking. An answer that results in a TB not balancing is going to cost you a mark or so, however you would lose more marks if you were asked to produce a P&L a/c and you drew up a Balance Sheet. In 'real life' you would be unlikely to produce a TB without the use of a computer system designed to ensure that your credits and debits added up. To this end there is more allowance given to numerical errors than comprehension errors. David