Studying Accounting is one of the best career choices that you can make. Here is why you should study Accounting:
- Work in any industry – When you study an Accounting course, you can work in any industry. Accounting principles are the same wherever you work. Whether in industry, commerce government or not-for-profit organisations.
- Work anywhere – With an Institute of Certified Bookkeepers (ICB) Accounting Qualification, you can work anywhere in the world. This is because the ICB Qualifications are internationally recognised.
- Gain skills – When you study Accounting, you also gain skills. Soft skills, also known as transferable skills, can go a long way in making you an effective Accountant. Here are some of the skills that you can gain when you study Accounting:
- Numeracy skills
- Leadership skills
- Organisational skills
- Analytical skills
- Communication skills
- Computer skills
- Financial Accounting is a scarce skill – A scarce skill is a skill that is in demand. This means that, with your Accounting Qualification, it will not take you longer to find employment opportunities.
- Network – The Accounting profession can enable you to network with other professionals in different fields. You will also be able to network with people from all walks of life.
- Above-average salaries – Salaries In the Accounting field are above average. This is because Accounting is a scarce skill. Employers are always on the lookout for scarce skills. Remember, when something is scarce, offer prices go up. This also means that you can get exceptional perks and benefits.
- Stable career – Accounting is a stable career. This is a job that you can keep for a long time. Here are the advantages of a stable job:
- Income is consistent, therefore you can manage your expense
- Youn can have employee perks and benefits
- Opportunities for growth
- Wide career choice – Accounting has a wide career path. Here are some of the Accounting career paths that you can consider:
- Auditing
- Financial Accounting
- Forensic Auditing
- Internal Auditing
- Management Accounting
- Taxation
- Growth opportunities – An Accounting profession can give you opportunities for professional growth. Growth in the profession will come with seniority and more responsibility.
Which Is The Best Course For Accounting?
The Institute of Certified Bookkeepers (ICB) has some of the best courses in Accounting. The Institute is an External Examinations Body that offers the following Accounting Courses:
How Do I Qualify For An Accounting Course?
The ICB Financial Accounting Courses are studied in succession. Here is what you need to study ICB Financial Accounting Courses:
Bookkeeping: ICB National Certificate
Here is what you need to study this course:
Be able to study through distance learning
Bookkeeping: ICB FET Certificate
Here is what you need 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
Here is what you need to study this course:
- You have to complete the previous course, which is the Bookkeeping: ICB FET Certificate course
- Understand, read and write English
Study through distance learning
Certified Financial Accounting: ICB National Diploma
Here is what you need to study this course:
- 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
Can I Study With The ICB?
No, you cannot study with the ICB. ICB is an External Examination Body. The Institute does not offer tuition or any study material. There are Learning Providers that are accredited with the ICB to provide tuition to students. Matric College is an accredited Learning Provider of the ICB.
Where Can I Study Accounting?
You can study Accounting at Matric College. The College is a distance learning institution. When you study with a distance learning institution, you study at home. You do not have to attend any classes. Here is what Matric College can do for you:
- Provide you with textbooks and study notes
- Access to tutors
- Access to student support services from 08:00 am to 05:00 pm every weekday
- Affordable tuition fees
- You can study and learn at the same time
- Reduce chances of contracting COVID-19
What Are The Duties Of An Accountant?
Here are some of the duties of an Accountant:
- Manage all accounting transactions
- Prepare budgets
- Publish financial statements
- Handle monthly, quarterly and annual accounts
- Reconcile accounts
- Make payments
- Compute taxes and prepare tax returns
- Manage balance sheets and profit/loss statements
- Report on the company’s financial health and liquidity
- Audit financial transactions and documents
- Keep financial records
- Comply with financial policies and regulations
How Much Does An Accountant Earn In South Africa?
Here are the average salaries of Accountants in South Africa:
LEVEL | AVERAGE SALARY |
Entry-Level (0 to 4 years of experience) | R 17 000.00 |
Intermediate Level (4 to 9 years of experience) | R 20 000.00 |
Senior Accountant (10 to 20 years of experience) | R 27 500.00 |
Over 20 years of experience | R 42 000.00 |
What Are The Types Of Accounting?
There are different types of Accounting. Here are some of the most common types of Accounting:
- Financial Accounting – Mainly concerned with the process of compiling information for financial reports for external reporting
- Managerial Accounting – This type of accounting documents, monitors and assists in the financial planning of an organisation
- Cost Accounting – Cost Accountants are responsible for documenting, presenting and reviewing manufacturing costs
- Auditing – Internal auditing determines the effectiveness of internal accounting processes
- Tax Accounting – Tax Accountants help businesses stay in compliance with the South African Revenue Services (SARS)
- Accounting Information Systems – Accounting Information Systems, or AIS, is the system by which a company collects, stores and processes its financial and accounting data
- Forensic Accounting – Forensic accounting is used to investigate the financial records of individuals or businesses
- Public Accounting – Public Accounting refers to businesses that provide accounting advice to clients based on their needs
Governmental Accounting – Governmental Accountants will also monitor a government’s budget and allocate funds appropriately
Who Are The Users Of Accounting?
Accounting information is used by a variety of stakeholders, including the following:
- Owners/Shareholders
- Managers
- Prospective Investors
- Creditors, Bankers, and other Lending Institutions
- Government
- Employees
- Regulatory Agencies
- Researchers
- Customers
What Is A Balance Sheet?
This is a financial statement that shows the company’s assets and liabilities at a given point in time. An asset is a good that provides current or future benefits to a business. An example of an asset is a building, a vehicle, and a computer. A liability is something that a business is liable to or simply a debt. An example of a liability is mortgage debt, salaries owed and bank debt
How Can I Be Successful In Accounting Career?
- Have a good mentor – Mentors can provide advice based on first-hand experience t
- Have a broad skill set – Having a broad skill set will add to your marketability, especially with continuous advancements in technology.
- Be tech-savvy – Use technology effectively to improve processes and create efficiencies
- Be a team player – Be part of a team. If you are the team leader, you must lead from the front.
Embrace change – Today’s ever-changing business environment requires finance professionals to adopt an informed and forward-thinking approach to decision-making
Author: Collin Wilbesi
Editor: Sive Ncanywa
Date : July 01 , 2022