Students who wish to obtain AATSL Membership only, may undergo the Non Monitored Practical Training.
The Supervising Member could belong to any one of the following categories:
(a) Member of ICASL.
(b) Member of AATSL
(c) Member of CIMA (UK).
(d) Member of ACCA (UK).
(e) A Member of any other Professional Accountancy Institute.
(f) A Government Accountant.
(g) A Licentiate of the ICASL / Intermediate Certificate Holder ICASL.
(h) Holder of the HND in Accountancy Certificate.
(i) A person holding office in the capacity of accountant or any other related capacity in an establishment provided such person is acceptable to the Governing Council of the AATSL.
Prescribed Period of Training - Two Years
Any practical experience / training in excess of Two years before registration is counted as one year for this purpose. The minimum Practical Training required is 1250 hours per year.
Method of Recording the Practical Training
The student should get the “Practical Accounting Experience Record Sheet” from the Training Division, get adequate photocopies of this Form (52 copies per year) and fill them up appropriately regularly for 24 months.
Areas of Training
1.0 Work leading to Preparation of Books of Accounts.
♦ Preparation of Books of Prime Entry – eg. Sales Book, Purchase Book, Returns Book etc
♦ Preparation of the Cash and Bank Book
♦ Maintaining the Petty Cash Book
♦ Preparation of Bank Reconciliation Statements
♦ Preparation of Cash and Banking Summaries and Cash Reconciliations
♦ Maintenance of an appropriate filing system
♦ Preparing Journal entries
♦ Posting entries to General Ledger and or to Subsidiary Ledgers
♦ Preparing Control Accounts, eg. Debtors Control Account
♦ Communicating with Customers, Suppliers and Management about matters arising from keeping accounts
♦ Preparation of payroll
2.0 Work involving Preparation of Trial Balance
♦ Extracting the general Trial Balance
♦ Extracting balances from subsidiary ledgers
eg. Debtors Balances
♦ Reconciling Control Accounts
♦ Ensuring the correctness of the Trial Balance
3.0 Work involving Preparation of Financial Statements / Reports.
♦ Preparing the Profit and Loss Account
♦ Preparing the Balance Sheet
♦ Preparing the Cash Flow Statement
♦ Preparing Notes to the Accounts
♦ Performing analysis on the accounts.
eg. Calculation of ratios, trends, etc.
4.0 Work involving Taxation
♦ Preparing VAT summaries
♦ Filling VAT Returns
♦ Preparing Turnover Tax Summaries
♦ Computation of Income Tax
♦ Filing Income Tax Returns
♦ Communicating with Tax Officers.
5.0 Work involving Statutory Requirements
♦ Calculation and Payment of EPF and ETF and PAYE Tax
♦ Providing for Gratuity
♦ Maintenance of Secretarial records
eg. Share Registers
♦ Filing Annual Returns
♦ Dividend Processing
6.0 Work involving Budgeting
♦ Participating in the Budget Committee
♦ Preparation of Budgets
♦ Finalization of Budgets
♦ Preparing Variance Statements of Budgets and Actuals
7.0 Work involving Costing
♦ Payroll analysis
♦ Time Sheet Analysis
♦ Job Card Analysis
8.0 Work Involving Cost Estimates
♦ Machine Chart Analysis
♦ Preparing Cost Estimates
♦ Preparing Routine Reports
♦ Maintaining the Cost Ledgers
9.0 Work involving Inventories
♦ Maintaining Stock Records
♦ Reconciling Stock Ledger with Bin Cards and Physical Stocks
♦ Participating in Stock taking
♦ Preparing reports on Stock take
10.0 Other work
♦ Maintaining Fixed Assets Register
♦ Communications with Suppliers and Customers
♦ Communication with external auditors
Download Practical Accounting Experience Record Form