Financial Management Courses

Studying a Financial Management course is an excellent way to begin your career in the finance industry. 

What Is Financial Management?

Financial Management is all about managing the financial aspects of a business’s major transactions. This involves overseeing investments and helping the business make good financial decisions.

Is Finance A Good Career?

Every company needs a financial manager, and being in the finance industry can pay very well. The finance industry is one of the most stable industries to work in. this is because while the economy is constantly changing, there will always be a need for workers in the field of finance.

Is A Financial Management Course Difficult?

Financial Management is not difficult as long as you have a good grasp of maths and can manage your study times well.

What Financial Management Courses Can I Study?

There are many options for studying Financial Management. You can choose to study a NATED (National Accredited Technical Education Diploma) Financial Management course, or you could choose to study an ICB Financial Accounting course. Each course has different levels.

NATED

The NATED Financial Management course requires Matric or a Matric Equivalent qualification to apply. The NATED Financial Management course levels are as follows: 

ICB

The ICB Financial Accounting course requires only Grade 10 to apply. The ICB Financial Accounting course levels are as follows: 

  • ICB National Certificate in Junior Bookkeeping (NQF Level 3)
  • ICB FET Certificate in Senior Bookkeeping (NQF Level 4)
  • ICB National Diploma in Technical Financial Accounting (NQF Level 5)
  • ICB National Diploma in Financial Accounting (NQF Level 6)

What NQF Levels Mean 

The NQF (National Qualifications Framework) levels are determined by SAQA (the South African Qualifications Authority). This allows educational institutions and potential employers to understand the educational level of any qualification. There are 10 NQF levels: 

  • NQF Level 1 – Grade 9
  • NQF Level 2 – Grade 10
  • NQF Level 3 – Grade 11
  • NQF Level 4 – Matric
  • NQF Level 5 – FET Certificate/Higher Certificate
  • NQF Level 6 – Diploma/Advanced Certificate
  • NQF Level 7 – Bachelor’s Degree/Advanced Diploma
  • NQF Level 8 – Honour’s Degree 
  • NQF Level 9 – Master’s Degree
  • NQF Level 10 – Doctoral Degree 

This means that if you do not have your Matric, you could begin your studies with the ICB National Certificate in Junior Bookkeeping, then continue to the ICB FET Certificate in Senior Bookkeeping. You could then use this certificate to apply for the NATED N4 National Certificate in Financial Management.

Where Can I Study Financial Management?

You can study Financial Management through distance learning by choosing to study at one of the following reputable distance learning colleges:

 

NATED

  • Bellview Institute of Distance Learning 
  • Matric College
  • Skills Academy

ICB 

  • Bellview Institute of Distance Learning 
  • Matric College
  • Skills Academy
  • Ember Academy 
  • Learning Group


Potential Careers With Each NATED Course Level

NATED N4 National Certificate in Financial Management 

Accounting Clerk: 

The duties of an Accounting Clerk can include, but are not limited to: 

 

  • Data entry
  • Filing 
  • Balancing company ledgers 
  • Client correspondence

Payscale: R65 000 – R248 000 per year 

Creditor’s Clerk

The duties of a Creditor’s Clerk can include, but are not limited to: 

  • Data entry
  • Filing
  • Preparing financial statements 
  • Managing customer inquiries 

Payscale: R85 000 – R252 000 per year 

Payroll Clerk

The duties of a Payroll Clerk can include, but are not limited to; 

  • Ensuring company employees are paid correctly and on time
  • Overseeing wages/salary adjustments in terms of unpaid sick leave
  • Checking signatures from managers or supervisors 

Payscale: R61 000 – R241 000 per year

 

NATED N5 National Certificate in Financial Management 

Internal Auditor clerk 

The duties of an Internal Auditor Clerk can include, but are not limited to:

  • Overseeing the Accounting department
  • Filing
  • Reviewing tax records
  • Conducting internal audits on the company

Payscale: R91 000 – R215 000 per year

 

Senior Bookkeeper

The duties of a Senior Bookkeeper can include, but are not limited to:

 

  • Managing company accounts
  • Recording company financial transactions
  • Recording other company financial information, such as accounts receivable and accounts payable 
  • Distributing invoices

Payscale: R154 000 – R446 000 per year 

Insurance Sales Manager

The duties of an Insurance Manager can include, but are not limited to:

  • Overseeing the Sales Teams within an insurance company
  • Deciding how many insurance policies should be sold in a certain amount of time
  • Ensuring the Sales Team is meeting company goals
  • Coming up with strategies for increasing sales and developing marketing campaigns 

Payscale: R551 000 – R980 000 per year

 

NATED N6 National Certificate in Financial Management 

Financial Manager

The duties of a Financial Manager can include, but are not limited to: 

  • The financial performance of the company
  • Determining weak points or risks in the company’s finances
  • Informing the rest of the management staff when there are potential problems with the finances
  • Request an internal audit of the company if they feel it is necessary

Payscale: R258 000 – R976 000 per year 

Auditor

The duties of an Auditor can include, but are not limited to: 

  • Checking the accuracy of the company’s financial records
  • Reviewing cash flow records 
  • Reviewing financial transaction records 
  • Ensuring financial statements meet legal requirements

Payscale: R125 000 – R673 000 per year 

Accountant

The duties of an Accountant can include, but are not limited to: 

  • Payroll administration
  • Data entry
  • Cash flow reports
  • Keeping balance sheets 
  • Managing budgets
  • Keeping inventory

Payscale: R119 000 – R513 000 per year

NATED N6 National Diploma in Financial Management

Assets Manager:

The duties of an Assets Manager can include, but are not limited to:

  • Managing asset investments 
  • Managing asset acquisition 
  • Strategising for increasing asset value 
  • Strategising for increasing revenue

Payscale: R181 000 – R1 000 000 per year

Finance Administrator:

The duties of a Finance Administrator can include, but are not limited to: 

  • Maintaining financial records
  • Balancing ledgers 
  • Preparing financial reports 
  • Presenting financial reports to the Head of Finance in the company

Payscale: R87 000 – R326 000 per year

Financial Controller:

The duties of a Financial Controller can include, but are not limited to:

  • Preparing financial reports
  • Assisting with compliance audits
  • Overseeing internal controls 
  • Maintaining general ledgers

Payscale: R131 000 – R871 000 per year

 

Potential Careers With Each ICB Course Level 

ICB National Certificate in Junior Bookkeeping 

Junior Bookkeeper: 

The duties of a Junior Bookkeeper can include, but are not limited to: 

  • Managing accounts payable 
  • Managing accounts receivable 
  • Collecting and recording financial data
  • Analysing month-end financial data 

Payscale: R61 000 – R200 000 per year

Accounts Clerk: 

The duties of an Accounts Clerk can include, but are not limited to:

  • Recording financial transactions 
  • Maintaining financial records 
  • Preparing financial statements
  • Assisting accountants with administrative duties

Payscale: R60 000 – R220 000 per year

Payroll Clerk:

The duties of a Payroll Clerk can include, but are not limited to:

  • Verifying employee timesheets 
  • Issuing deductions 
  • Updating payroll records 
  • Processing employee pay cheques 

Payscale: R66 000 – R242 000 per year

 

ICB FET Certificate in Senior Bookkeeping 

Senior Bookkeeper: 

The duties of a Senior Bookkeeper can include, but are not limited to: 

  • Maintaining and operating general accounts 
  • Maintaining and operating subsidiary ledgers
  • Data entry 
  • Maintaining financial records

Payscale: R162 000 – R447 000 per year 

Junior Accountant: 

The duties of a Junior Accountant can include, but are not limited to: 

  • Maintaining general ledgers 
  • Overseeing day-to-day transactions
  • Assessing data 
  • Maintaining the accuracy of employee timesheets

Payscale: R69 000 – R247 000 per year

Assistant Accountant

The duties of an Assistant Accountant can include, but are not limited to: 

  • Bookkeeping 
  • Document filing 
  • Client correspondence
  • Assisting with payroll administration

Payscale: R92 000 – R382 000 per year

ICB National Diploma in Technical Financial Accounting 

Technical Financial Accountant: 

The duties of a Technical Financial Accountant can include, but are not limited to: 

  • Preparing financial reports
  • Recording and analysing financial trends
  • Providing strategic guidance and business advice
  • Assisting with audits

Payscale: R252 000 – R10 790 000 per year

Accounting Technician: 

The duties of an Accounting Technician can include, but are not limited to:

  • Bookkeeping 
  • Recording transactions 
  • Payroll administration 
  • Preparing monthly financial statements

Payscale: R69 000 – R266 000 per year

 

Tax Technician: 

The duties of a Tax Technician can include, but are not limited to: 

  • Reviewing financial reports 
  • Preparing tax reports 
  • Filing tax returns
  • Reviewing tax records

Payscale: R235 000 – R395 000 per year

 

ICB National Diploma in Financial Accounting 

Financial Accountant: 

The duties of a Financial Accountant can include, but are not limited to: 

  • Overseeing tax payments
  • Internal auditing 
  • Preparing company budgets 
  • Providing financial advice 

Payscale: R160 000 – R606 000 per year

Management Accountant: 

The duties of a Management Accountant can include, but are not limited to: 

  • Recording transactions 
  • Managing investments 
  • Risk management 
  • Overseeing budgeting 

Payscale: R231 000 – R 742 000 per year

Tax Consultant: 

The duties of a Tax Consultant can include, but are not limited to: 

  • Collecting tax information 
  • Data entry 
  • Analysing information
  • Filing tax returns

Payscale: R104 000 – R523 000 per year

What Subjects Do You Study In Financial Management?

The subjects you study will vary depending on which course you choose to study, and subjects progress as your studies progress.

 

NATED

The subjects for each level of the NATED Financial Management course are as follows.

 

N4 National Certificate in Financial Management 

  • Financial Accounting N4
  • Computerised Financial Systems N4
  • Entrepreneurship and Business Management N4
  • Management Communication N4

N5 National Certificate in Financial Management 

  • Financial Accounting N5
  • Computerised Financial Systems N5
  • Entrepreneurship and Business Management N5
  • Cost & Management Accounting N5

N6 National Certificate in Financial Management 

  • Financial Accounting N6
  • Computerised Financial Systems N6
  • Entrepreneurship and Business Management N6
  • Cost & Management Accounting N6

N6 National Diploma in Financial Management 

The N6 National Diploma does not have any theoretical subjects, as it consists of 18 months’ work experience.

ICB 

The subjects for each level of the ICB Financial Accounting course are as follows.

 

ICB National Certificate in Junior Bookkeeping

  • Bookkeeping to Trial Balance
  • Payroll and Monthly SARS Returns
  • Computerised Bookkeeping
  • Business Literacy

ICB FET Certificate in Senior Bookkeeping 

  • Financial Statements
  • Cost and Management Accounting

ICB National Diploma in Technical Financial Accounting 

  • Income Tax Returns
  • Business Law and Accounting Control

ICB National Diploma in Financial Accounting 

  • Corporate Strategy
  • Management Accounting Control Systems
  • Financial Reporting and Regulatory Frameworks
  • Research Theory and Practice (by short dissertation on the topic: Financial Accounting)

How Long Is A Financial Management Course?

Studying a NATED Financial Management course will take a minimum of 36 months to complete the theoretical section, and 18 months to complete the practical section, which consists of work experience. 

 

Studying an ICB Financial Accounting course will take a minimum of 36 months to complete. The first and last courses take 12 months each to complete, while the middle two take six months each to complete.

Can I Do Financial Management Without Matric?

No, you cannot do a NATED Financial Management course without Matric. In the past, you could apply to some NATED courses with a Matric Equivalent qualification. This is no longer the case. To study any NATED course, you must have your Matric.

Is Finance Harder Than Accounting?

No, finance is easier than accounting. Accounting goes into much more detail in specific areas, and can get more difficult as you proceed. While financial management will become more difficult as you proceed, it is a much broader field of study, and so will not be as difficult as accounting.

Which Pays More Between Finance Or Accounting?

When comparing the pay scales of a Financial Manager and an Account Manager, a Financial Manager earns more. The pay scale of each are as follows: 

 

  • Financial Manager: R258 000 – R985 000 per year
  • Accounts Manager: R148 000 – R562 000 per year

This is most likely due to the fact that Financial Managers deal with a much larger area of work. Financial Managers work with the entire finance department of a company, whereas Account Managers generally work only with accounts and transactions.

Other NATED Courses

There are many other NATED courses available to study at colleges such as Bellview Institute of Distance Learning

 

Other available NATED Management courses are: 

 

Office Administration was the only NATED Management course that required you to have your Matric. However, this is no longer the case. All NATED courses now require you to have Matric to be able to apply. You can also study any of these courses at Matric College.

Other ICB Courses

Other ICB courses that are available are: 

 

  • Business Management
  • Office Administration

Business Management requires only Grade 11 to apply. This course has three levels going up to the Diploma level. 

 

Office Administration requires you to have Matric to apply. This course has three levels going up to the Diploma level.

What If I Still Want To Get My Matric?

If you would like to get your Matric, there are options available. The three options are: 

 

  • Matric Rewrite
  • Matric Upgrade
  • Adult Matric

Matric Rewrite 

Matric rewrite is available to anyone under the age of 21 who would like to improve their Matric results. You may rewrite a maximum of two subjects, and you cannot change subjects. You must rewrite subjects you wrote for your Matric final exams. 

 

There is no limit to the number of times you can rewrite your Matric, as long as you are still under the age of 21. To apply for a Matric rewrite, you will need: 

 

  • A copy of your Statement of Results
  • A certified copy of your ID

Matric Upgrade 

Matric upgrade is available to those who are over the age of 21 and would like to improve their Matric results. You must be over the age of 21 because you will be writing the Adult Matric exams. 

 

You may upgrade as many subjects as you choose, and you may also change any or all of your subjects if you prefer. There is no limit to the number of times you can upgrade your Matric. To apply for a Matric upgrade, you will need: 

 

  • A copy of your Statement of Results
  • A certified copy of your ID

Adult Matric 

Adult Matric is aimed at those who did not have the opportunity to complete their high school education. You must be over the age of 21 to do your Adult Matric. Once you have successfully completed it, you will receive your Senior Certificate (Amended). This works exactly the same way as a National Senior Certificate.

What Have We Learned?

Financial Management is about ensuring the financial stability and growth of a company. There are many job opportunities in the finance industry. It takes a minimum of three years to complete the ICB Financial Accounting courses. It takes a minimum of 36 months to complete the NATED Financial Management courses. 

 

You can study financial management without Matric if you have a Matric Equivalent. If you do not have a Matric Equivalent qualification, you can begin with the ICB Financial accounting courses without Matric. 

 

There are four levels to both the NATED and ICB Finance courses. Finance is easier than accounting. Finance pays more than accounting.

Author: Chloe Bydawell
Editor: Amy Venter
Date Published: May 17, 2022

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