Choosing Financial Accounting

  • 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:

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. 
financial accounting

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:

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:

Last Updated: 14 August 2023

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