- Financial accounting is for individuals who enjoy working with numbers. They are interested in how the finances of business work.
- It is all about the recording of a company’s transactions and management of its financial plans.
- Financial accountants usually earn a respectable salary.
- Companies are on the lookout for financial accountants, therefore job opportunities are secured.
- You could pursue many different career paths within the financial industry.
- You can apply for the ICB Financial Accounting Programme without a matric certificate.
Choose financial accounting if you enjoy working with numbers and are interested in the finances of a business.
The ICB has the Financial Accounting Programme that consists of four courses. These include:
- National Certificate in Junior Bookkeeping.
- FET Certificate in Senior Bookkeeping.
- National Diploma in Technical Financial Accounting.
- National Diploma in Certified Financial Accounting.
Here is everything you need to know when choosing financial accounting as a study path:
What Is Financial Accounting?
It is the recording and tracking of transactions of a business. The main responsibilities are creating budgets, working with taxes, and managing all financial-related activities.
Financial Accountant Qualities
If you want to find out whether this is the right career for you, take a look at these qualities that professionals in the field are expected to have:
- Someone who pays attention to detail: Working with numbers and paperwork means it is important that a financial accounting professional can pay attention to detail.
- Good communication skills: Seeing that financial accountants are likely to meet with clients who seek financial advice, you will have to have good communication abilities.
- Someone who works hard: As a financial accountant it is crucial that you finish your work on time and put the necessary effort into it. The company relies on financial accountants for its success.
- You need to be trustworthy: You will work with money daily, it is important that integrity is kept and a relationship of trust is built.
Why Study Financial Accounting?
It holds many benefits. Here is why it is a worthwhile study option:
- A respectable salary: Earn a good income. All companies need a financial department and it is a scarce skill. This means that employers are willing to invest in them.
- Job security: Scarce skills ensure that you will most likely find employment easily.
- Opportunities to grow: It is a fast-growing and competitive industry where you will learn a lot and be able to climb the corporate ladder. You can easily work your way up from an entry-level position to an advanced position.
- Chance to start your own business: Studying and working in this industry will give you the necessary knowledge and skills to start your own business.
Career Possibilities
This industry is extremely broad. You can follow a variety of career paths after obtaining a qualification in this field. These include:
- Financial planner.
- Bookkeeper.
- Financial analyst.
- Compliance officer.
- Internal auditor.
- Accounting technician.
- Tax consultant.
- Accounting manager.
- Budget analyst.
What To Study?
The Institute of Certified Bookkeepers (ICB) offers business and financial programmes that will provide you with the knowledge and skills needed to become a financial accounting professional.
The benefit of the ICB programme is that it does not require a matric certificate. These courses have an NQF Level 4, which is the same as a matric certificate. This way an ICB course is a matric equivalent.
All of their courses are accredited and registered on the National Qualifications Framework (NQF).
The ICB has the Financial Accounting Programme that consists of four courses. These include:
- National Certificate in Junior Bookkeeping.
- FET Certificate in Senior Bookkeeping.
- National Diploma in Technical Financial Accounting.
- National Diploma in Certified Financial Accounting.
Where To Study?
All you need to do is find a college that offers ICB courses. To help with your search, here is a list of reputable colleges in South Africa where you can find ICB courses:
- Ember Academy.
- Matric College.
- Skills Academy.
- Bellview Institute of Distance Learning
- The Learning Group.
Last Updated: 14 August 2023