ICB Financial Accounting Programme
If you want to become an accountant one day, this is the right stream for you. You will learn how to do bookkeeping, financial accounting, income tax, financial management, reporting standards, corporate strategy, management accounting and research.
Remember this course takes you up to national diploma level. You will be to switch over to study with ACCA or CIMA if wish you take your studies further and become a registered accountant.
The TWP Academy ICB Financial Accounting qualification is broken into 4 levels, and you get a qualification on the successful completion of each level.
- ICB Financial Accounting Foundation Level: National Certificate: Bookkeeping
- ICB Financial Accounting Intermediate Level: Further Education and Training Certificate: Bookkeeping
- ICB Financial Accounting Upper Intermediate Level: National Diploma: Technical Financial Accounting
- ICB Financial Accounting Advanced Level: National Diploma: Financial Accounting
Here are the details of the TWP Academy ICB Financial Accounting qualification
ICB Financial Accounting Foundation Level
This qualification will take you 12 months, and you can be a Junior Bookkeeper, Accounts Clerk, Reconciliation Clerk, Payroll Clerk, Accounts Payable/Receivable Clerk once you have completed all your exams.
The ICB Financial Accounting foundation level has four subjects, and you qualify for the National Certificate in Bookkeeping once you have passed the exams. That means you get your first qualification after studying just 4 subjects.
You need to be 16, and how a grade 10 or equivalent to study this program, and you don’t need in prior accounting knowledge. That means this is written assuming you know nothing about accounting so there is no need to be intimidated.
- Bookkeeping to Trial Balance (BKTB)
- Payroll and Monthly SARS Returns (PMSR)
- Computerised Bookkeeping (CPBK)
- Business Literacy (BUSL)
You will be able to do monthly bookkeeping to trial balance (manual and computerised); disclose profit and financial position; reconcile suppliers, inventory and bank statements; calculate PAYE/UIF/SDL; payroll tax and other deductions; EMP201, EMP501, IRP5, IRP6 and IT3a documents and VAT returns once you have completed this course.
ICB Financial Accounting Intermediate Level
You can only do this course if you have completed the foundation level course, or are exempted from it by the ICB. At the Intermediate Level, you will hold the FET Certificate in Bookkeeping once you qualify. This will take you about 6 months to complete.
You will be able to work as a senior bookkeeper, junior accountant, assistant accountant, financial services officer, credit controller or business analyst.
The subjects you will complete at this level are:
- Financial Statements (FNST)
- Cost and Management Accounting (CMGT)
After completing these subjects you will be able to do monthly bookkeeping, asset disposal, year-end adjustments, International Financial Reporting Standards for SMMEs, branch accounts, incomplete records, analysis of financial statements, understand cash flow, basic cost and management accounts, prepare manufacturing accounts, costing and budgeting.
ICB Financial Accounting Upper Intermediate Level
This level should take another 6 months to complete, and there are two further subjects. Entry requirements are are that you have successfully passed the exams for subjects 1 to 6 listed above.
Once you have your further Education and Training (FET) Certificate: Bookkeeping you will be able to work as a Technical Financial Accountant, Financial Manager, Financial Services Manager, Accounting Technician or a Tax Technician.
The subjects you would need to complete are:
- Income Tax Returns (ITRT)
- Business Law and Accounting Control (BLAC)
You will be able to complete a full set of accounts for a financial year, support management in finance and accounting, become a SAIT tax practitioner (once you meet their requirements), know the ins and outs of accounting, taxation (individuals and companies), auditing and business law.