To become a Certified Financial Accountant, you will need to study the Institute of Certified Bookkeepers (ICB) Financial Accounting Programme. The ICB Financial Accounting Programme consist of the following 4 (four) courses which build on each other:
What Qualifications Do I Need To Study The ICB Financial Accounting Programme?
The courses under the ICB Financial Accounting Programme build on each other. What this means is that you must study the courses in succession. The entry requirements for each course are therefore not the same. Here are the entry requirements for the ICB Financial Accounting Courses:
Bookkeeping: ICB National Certificate
The Bookkeeping: ICB National Certificate is the introductory course in your journey to becoming a Certified Financial Accountant. This course is a beginner course. You do not need to have any prior knowledge of accounting. Here are the minimum requirements for this course:
- Grade 10 or Grade 10 Equivalent Certificate
- Be able to read, write and understand English
- Be able to study through distance learning
Bookkeeping: ICB FET Certificate
The Bookkeeping: ICB FET Certificate course will teach you advanced Bookkeeping methods. This qualification is equivalent to a Matric. Here are the minimum requirements for you to study this course:
- Have completed the Bookkeeping: ICB National Certificate
- Understand, read, and write English
Be able to study through distance learning
Technical Financial Accounting: ICB National Diploma
The Technical Financial Accounting: ICB National Diploma will introduce you to the world of Financial Accounting. To study this course, here are the entry requirements:
- You must have completed the Bookkeeping: ICB FET Certificate course
- Understand, read and write English
- Study through distance learning
Certified Financial Accounting: ICB National Diploma
Successful completion of the Certified Financial Accounting: ICB National Diploma will make you realise your dream of becoming a Certified Financial Accountant. To study for the final course you, here are the requirements that you need:
- You have to complete the previous course, which is the Technical Financial Accounting: ICB National Diploma course
- Understand, read and write English
- Study through distance learning
Why Should I Study ICB Courses?
Here is why you should study ICB courses:
- The courses are recognised – Recognised by employers and other professional bodies
- ICB courses are accredited with the following:
- ICB courses are scarce skills courses
- Entry requirements to ICB courses are flexible
How Many Years Does It Take To Be A Certified Financial Accountant?
To become a Certified Financial Accountant, it can take you 36 months (3 years). Here are the recommended course durations for the ICB Financial Accounting Programme:
| COURSE | DURATION |
| 12 months | |
| 6 months | |
| 6 months | |
| 12 months |
Is Financial Accounting A Good Career?
Yes, Financial Accounting is a good career choice. Consider the following:
- It is a scarce skill – Financial Accounting is a scarce skill. This means that there are few people with the skill. When something is scarce, it is in demand. With your Financial Accounting Qualification, you can secure employment in no time.
- Work anywhere – There is no business that can prosper without Financial Accounting. This means that you are not confined to any industry. In addition, you can work anywhere in the world.
- Job security – Since Financial Accounting is a scarce skill. It means that you have job security as employers are always in search of your skill and knowledge. You can have the luxury of choosing an employer who you think is offering better pay and benefits.
- Wide career choices – With your Certified Financial Accounting Qualifications, not only can you be an Accountant, but you can also consider the following careers:
- Auditor
- Tax Accountant
- Financial Analyst
- Management Accountant
- Cost Accountant
- Financial Services Manager
What Do Financial Accountants Do?
Here are some of the duties of a Financial Accountant:
- Gather and monitor financial data
- Prepare monthly, quarterly and annual statements
- Forecast costs and revenues
- Manage tax payments
- Organise internal audits
- Prepare budgets
- Monitor and report on accounting imbalances
- Conduct risk analysis
- Assess potential investments
- Analyse financial trends
- Perform month-end and year-end close processes
Is Financial Accounting And Bookkeeping The Same?
No. Financial Accounting and Bookkeeping are not the same. An Accountant analyses data that a Bookkeeper provides records. An Accountant uses the data analysed to provide the financial insights of the business and offer advice. Here are the difference between the two:
| FINANCIAL ACCOUNTING | BOOKKEEPING |
|
|
How Much Does A Financial Accountant Earn In South Africa?
In South Africa, an entry-level Accountant with less than four years of experience can earn an average salary of R 16 660.00 per month.
An intermediate level Accountant with 4-9 years of experience can earn an average salary of R 20 000 per month.
A Senior Accountant with 10-20 years of experience can earn an average of R 27 000 per month.
Accountants with more than 20 years of experience can earn more than R 42 000.00 per month.
What Type Of Accounting Pays The Most In South Africa?
Here are the Accounting jobs that pay the most in South Africa:
- Chartered Accountant
- Economist
- Financial Advisor
- Financial Controller
- Management Accountant
- Financial Analyst
- Credit Manager
Can I Study Financial Accounting Online?
Yes, you can study, the ICB Financial Management Programme online. Online learning is a form of distance learning. With distant learning, online tools are used to reach out to students. Matric College is a distance learning institution. Here is why you should consider studying through distance learning:
- Study in your own time – Set your own timetable that suits you
- Study at your own pace – Study at a pace that you can handle. No need to be rushed through a topic.
- Study anywhere – You can study anywhere that suits you. All you need to make sure is that the place that you choose is comfortable. In addition, the place that you choose to study must have no distractions.
- Cut costs – With distance learning, you can cut costs. Here are some of the areas that you can save:
- Transport – save in transport costs as there is no commuting
- Tuition – Distance learning is affordable
- Textbooks – No need to but textbooks as these will be provided. In addition to study notes, you will also receive study notes and other learning materials.
- Avoid COVID-19 contraction – When you stay home, you stay safe from contracting COVID-19
- Learn and work at the same time – You can work when you study through distance learning. Use your earnings to fund your education.
How Much Does It Cost To Study Financial Accounting?
To find out the cost of the ICB Financial Management Course, you can contact one of our Course Experts. We understand that not all students are the same. That is why we prefer that personal touch to every student.
Author: Collin Wilbesi
Editor: Connor Bergsma
Date Published: June 27, 2022