Can I study financial accounting without matric?

You can become a Financial Accountant without Matric. Financial Accounting is a rewarding career. A wide choice of careers exists within Financial Accounting.

Yes, you can study the Institute of Certified Bookkeepers (ICB) Financial Accounting Programme without Matric. Here are the minimum requirements:

  • Grade 10 or Grade 10 Equivalent Certificate 
  • Be 16 or older to apply
  • Be able to read, write and understand English 

Be able to study through distance learning

Which Courses Will I Study In The ICB Financial Accounting Programme?

The ICB Financial Accounting Programme consists of four (4) courses which you study in succession. You cannot study the next course before you complete the previous one. Here are the courses in the Programme:

Bookkeeping: ICB National Certificate

This is the foundation stage of the programme. It teaches you Bookkeeping skills. Bookkeeping is the foundation of Financial Accounting. To study this course, you need to meet these requirements: 

  • Grade 10 or Grade 10 Equivalent Certificate 
  • Be 16 years or older
  • Be able to read, write and understand English 
  • Be able to study through distance learning

Bookkeeping: ICB FET Certificate

In this course, you will study advanced Bookkeeping. In this course, you will learn the fundamentals of Financial Accounting. To study this course, you need to meet these requirements: 

Technical Financial Accounting: ICB National Diploma

This course will lay your Accounting foundation. With the course, you can be a Technical Accountant. This means that you will be able to carry out various aspects of the Accounting functions under the supervision of a Senior Accountant. To study this course, you need to meet these requirements:  

Certified Financial Accounting: ICB National Diploma

This is the final course in the ICB Financial Accounting Programme. Upon successful completion of this course, you will have qualified as a Financial Accountant or Management Accountant.  To study this course,  you need to meet these requirements: 

Which Matric Subjects Are Needed For ICB Financial Accounting?

There are no Matric subjects that are needed to study ICB Financial Accounting. This is because Matric is not the minimum requirement for one to study the Programme. The minimum educational requirement for the Programme is a Grade 10.

How Many Subjects Do I Study In The ICB Financial Accounting Programme?

There are twelve (12) subjects that you study in the ICB Financial Accounting Programme. The following subjects will be covered for each course:

 Bookkeeping: ICB National Certificate 

  1. Bookkeeping to Trial Balance
  2. Payroll and Monthly SARS Returns 
  3. Computerised Bookkeeping 
  4. Business Literacy

Bookkeeping: ICB FET Certificate 

  1. Financial Statements 
  2. Cost and Management Accounting 

Technical Financial Accounting: ICB National Diploma 

  1. Income Tax Returns
  2. Business Law and Accounting Control

Certified Financial Accounting: ICB National Diploma

  1. Corporate Strategy 
  2. Management Accounting Control Systems 
  3. Financial Reporting and Regulatory Frameworks 
  4. Research Theory and Practice

 

What Are The Duties Of A Financial Accountant?

Here are some of the duties of a Financial Accountant:

  • Preparation of financial reports 
  • Managing the general ledger 
  • Completion of the monthly accruals
  • Weekly cash flow reporting
  • Preparation of payroll and income tax returns
  • Assisting in the preparation of year-end accounts
  • Budgeting and forecasting
  • Ensuring Accounting standards and policies are adhered to
  • Supervision of Accounts Payable and Accounts Receivable staff
  • Training and mentoring junior staff
  • Liaising with external Auditors, Bank Managers and Tax specialists
  • Assisting in process improvement and systems enhancement initiatives
  • Identifying investment opportunities that can benefit the organisation

How Many Years Does It Take To Become A Financial Accountant?

The recommended duration for the completion of the ICB Financial Management Programme is 36 months. However, it should be borne in mind that some students might take a long while, quick learners may take a shorter period.  Here is the breakdown of the 36 months:

COURSE

RECOMMENDED DURATION

12 months

6 months

6 months

12 months

What Is A Financial Accountant’s Salary In South Africa?

Here is what a Financial Accountant earns in South Africa:

LEVEL

AVERAGE SALARY / MONTH

  • Entry level (less than three years of experience) 

R 15 800.00

  • Intermediate-level (with 4-9 years of experience

R 27 000.00

  • Senior Accountant (with 10-20 years of experience)

R 38 000.00

  • More than 20 years of experience

R 49 800.00

Which Career Fields Are In Financial Accounting?

Here are some of the career fields in Financial Accounting:

  • Accountant 
  • Accounting Clerk
  • Accounting Officer
  • Accounting Technician
  • Accounts Clerk
  • Bookkeeper
  • Chartered Accountant (further training required)
  • Chief Financial Officer   
  • Corporate Treasurer
  • Cost Estimator
  • Credit Controller
  • Credit Manager   
  • Credit/Loans Officer
  • Finance Manager 
  • Financial Accountant
  • Financial Investment Advisor 
  • Forensic Accountant 
  • Investment Advisor 
  • Investment Analyst 
  • Investment Manager 
  • Insurance Agent 
  • Insurance Broker 
  • Insurance Administrator
  • Management Consultant
  • Payroll Clerk 
  • Payroll Manager 
  • Project Accountant

Where Can I Study Financial Accounting In South Africa?

You can study ICB Financial Accounting at Matric College. Matric is a distance learning institution. With distance learning, you do not attend any classes. You study at home. Here are other reasons why you should consider studying at Matric College:

  • You will be provided with textbooks and study notes
  • You will have access to our tutors
  • Cut costs
  • Tuition fees are affordable
  • No transport costs
  • There is flexibility
  • Study at your own pace
  • Study at your own time
  • Study whenever you want
  • Get additional learning material online
  • Reduce your chances of contracting COVID-19
  • Study and work at the same time
  • Access to our Student support services every weekday from 08:00 am to 05:00 pm

How Do I Study ICB Financial Accounting?

Here are the steps that you need to take to study for the ICB Financial Accounting Programme:

  1. Register with Matric College
  2. Register with ICB as a student
  3. Register for your ICB course

Register With Matric College

If you meet the entry requirements of the programme, your next step will be to register with Matric College. You have to register with Matric College first before you register with ICB. Here are the four (4) ways that you can use to register with Matric College:

Register With The ICB As A Student

After registration at Matric College, your next step is to register with ICB. Here is how you register with ICB using the ICB Student Portal:

  • Click here to register directly with ICB
  • Fill in all the relevant details
  • Click register
  • You will now be redirected to another page where you will fill in all your personal details
  • After this, you now be able to log in with your new login details

Register For Your ICB Course

Once you are registered as an ICB student, it becomes necessary that you register for your ICB Financial Accounting Programme. Here is how you register for your ICB course:

  • Login to the ICB Student Portal
  • Click on – Register for a Course
  • Select the study stream or programme
  • Click on your preferred programme
  • Once you click, you will have access to a list of accredited learning providers
  • Tick Matric College
  • A new page will appear confirming your registration
    • Your programme
    • The name of the college (Matric)
  • Type of tuition offered (distance learning)

Author: Collin Wilbesi
Editor: Sive Ncanywa
Date: July  13 ,  2022