The best ways to Start a Career in Accounting and Bookkeeping
The paths to follow in order to have a profession in accounting and bookkeeping are as follows;
Studying an accredited ICB Course
Accredited ICB courses are one of the best ways to start your career in this field. The ICB has been around since 1931 and works to ensure all qualifications are to the highest industry standards possible. The ICB is an independent External Examinations body and offers courses via a variety of accredited institutions. You can choose to study part-time, full-time or via distance learning with your preferred education provider.
A University Degree
The conclusion of a university degree in accounting is the typical route to becoming an accounting professional. This will need a 3 to 4 year study depending upon the study option you choose. The requisite theoretical training is offered such that the theory, principles and practice of accounting is laid bare for you to comprehend as you make your method to earning a degree.
Many individuals who make a degree, have the ability to go on to become a chartered accountant when they finish the necessary duration of training and pass the administered assessments of such regulative bodies as the South African Institute of Chartered Accountants. Whilst this choice is a choice, it is the preferable one for anybody who desires to reach the heights of accounting practice in their lifetime.
Presently in lots of countries around the world, the chartered accountancy designation remains the height of the accounting profession and holders of recognized classifications rise to the peak of the boardroom and organizational echelons.
The Accounting Technician Route
The accounting specialist path is open to individuals who completed their matric and decide for a profession in accounting and accounting without a university degree. This path enables you to complete a series of evaluations in order to end up being a recognized accounting technician with a certificate to show for it.
You will likewise have the ability to work while you study in any company where you will be exposed to the practicality of accounting.
The number of persons who utilize this route is fewer than those who choose the university degree path. However in anyhow, it stays a veritable choice to a head- begin in accounting and bookkeeping profession.
The Learner Route
Utilizing the learner route is another way of getting a leg-in to the accounting profession and here, you can become an accountant in any firm, business or organization with a continuous guidance by a knowledgeable accountant who will reveal you the ropes.
What typically occurs here is that a few individuals become experienced bookkeepers without any official education in the field. Exactly what their lack of certificate does not make up for, they cover with their years of experience. Some enter of some accounting associations on account of their experience however may never ever get to the height of the occupations in larger corporations or work environment.
In a sharp contrast, there are a number of individuals that have ended up being chartered accounting professionals despite starting on the learner route. It could mean they chose to travel through the accounting technician path later in life, pass the tests and go on to make a CA classification. Others can go back to school on part-time studies, earn a degree and complete the CA requirements too.
The clear lines that cause a profession in accounting and bookkeeping are as brilliant as explained however exactly what stands apart is that there are no easy ways to a location in the occupation as hard work and diligence is required both in study and in practice. Lots of people earn their place yearly in this profession and there is no limitation to staking a claim if you attempt as well.
Professions and Benefits in Accounting and Bookkeeping
Careers in bookkeeping
In small business and companies, exactly what is referred to as a Cashier is an individual who gets and pays cash or cheques on a day to day basis. In larger organizations, you can have a Cashier as well as a Cash Accountant, depending on the volume or variety of transactions. A variety of cashiers can be used in locations like a bank as thy have to address a great deal of persons on an everyday basis.
There are business that have continuous client traffic everyday and such also require the services of cashiers in order to meet their commitments to the public.
In South Africa, most cashiers earn an average of R42, 300 every year although in bigger companies and with greater qualifications, you will be poised to make more.
An accountant keeps records of day to transactions and enters them as they are started and/ or finished. These records form the primary core for the financial statements that will be prepared thereafter by the accountant. In a totally digital environment, the monetary declarations will be produced with the help of software and can be created on a daily, weekly or monthly basis as the case might be.
A junior bookkeeper makes as much as R92, 000 yearly while a senior bookkeeper will make as much as R129, 000 on a yearly basis with the kind of company and service size playing an essential role. You can start working your way to this earning bracket by studying the ICB Bookkeeping course
The receivables accounting professional handles records of 3rd parties and other interest groups who are expected to pay for goods or services that they have enjoyed or taken shipment of, at every time. This portfolio is needed in huge companies where you discover that the list of parties on the receivables list might extend beyond 100 or more.
The head of receivable accounting area is called a credit controller and commands a wage of up to R193, 257 yearly. A receivable accounting professional earns approximately R126, 357 every year and is an excellent paying position across the country.
The payables accountant will supervise of payments to 3rd parties for transactions initiated by the company. The size of transactions dealt with here might necessitate the need for this portfolio and the larger the number of people included, the more vital is the need for it.
A payables accounting professional makes approximately R193, 357 yearly and is a good paying position throughout the country. Junior staff members on this job earn above R125, 000 yearly.
In little and in some cases, medium scale organizations; there may not be a need for a payroll accountant as an outcome of the few names that is dealt with on the personnel level. Nevertheless, with bigger size comes a need for this portfolio in order to maintain stability, appropriate control and accuracy.
A payroll accounting professional earns up to R160, 082 annual and is a position commonly in demand.
The Head of Accounts
In order to capture the role of this expert, it is essential to recognize that somebody have to take responsibility for the financial declaration of a company and this is extremely important.
In preparing, examining and licensing monetary declarations for using management, Board or the overall authority, a head of accounts area has to be recruited and active. The position requires a level of ability and proficiency that necessitates the ownership of an accounting classification like the Chartered Accountant for an individual to be considered for the job.
Considering that this role is typically inhabited by CA’s and skilled accountants, it likewise comes highly prized with compensation of approximately R439, 064 or more on a yearly basis.
The internal auditor is a required part of medium and big companies as the need to examine, control and authorize transactions becomes vital with the increasing scale of resources under consideration.
In some companies, the variety of portfolios in the audit department can be as diverse as possible depending on the complexity of transactions.
Entry level position here depends on R200, 656 while knowledgeable hands get over R300, 000 on a yearly basis.
The external audit roles are carried out by expert accountancy firms and they hire a range of personnel to fill their cadre. While a Chartered Accountant with specified levels of working experience is always required to head such companies, other low and middle level positions within the company can be filled by students, degree holders and other recently certified chartered accountants and knowledgeable personnel with varying levels of experience.
An individual position as an External Auditor brings between R400, 000 to R600, 000 or more depending on location, experience and other factors like complexity of company.
The Information Systems Auditor
The increasing wave of computerization and digital developments across the globe has actually brought to life a new cadre in accounting that was unknown until the last three years. The info systems auditor often is an accounting professional although individuals with due monetary exposure and computer-based education also fill the function.
The role requires that the individual is constantly on the watch out to license and make sure the integrity of the innovation end that caters for the financial deals of the organization. Classifications like these are continually evolving as the digital boundaries broaden and accounting and accounting professionals discover new roles to occupy with their specialized.
An accredited information systems auditor earns above R450, 000 every year and is a top ability in demand throughout the country.
Experts in the field of accounting and accounting discover significance in lots of elements of life and human endeavor daily. Their input is needed to keep services afloat, keep houses together and fortunes of numerous families depend on their know-how.
The engine of government operates on the important contributions made by them in tax collection and accounting across the provinces. Profits collections by federal government departments are anchored on the core abilities offered by these monetary experts simply like business and other companies across the country do. Daily, records are kept of cash received, payments made, products, sales and goods gotten on credit for reference in addition to control purposes.
The different activities performed in accounting and accounting provide a necessary bulwark for government choices, organizational growth, recruitment of skills as well as additional growth or downsizing.
There is no doubt that a career in accounting and accounting is a succulent one with a number of alternatives for study and practice.
People have the choice of choosing from a mix of university-driven education, accounting service technician programs or the student route as they consider their future career. By performing their functions in the cadres they are put, monetary records are created, examined and licensed for usage by various stakeholders throughout the government and economic sector divides. They keep services interfaced with monetary companies, lending institutions and regulatory authorities with key documentations, reports and activities.
Knowing that financial stability can not be made sure or safeguarded without this class of persons, society puts premium on the services supplied and these shows in the above par remuneration delighted in by individuals who work in this occupation.
The least paid class of workers in this field get up to R42,000 each year while the most extremely paid get compensations in excess of R1million as tested and experienced Chartered Accountants.
A course in accounting and accounting can be accessed through several sources which use similar paths to a satisfying profession.
TWP Academy is one college where you can study accounting and bookkeeping courses that are accredited by the ICB. Here are the qualifications offered:
- ICB Financial Accounting
- ICB Business Management
- ICB Office Administration
- ICB Entrepreneurship
- ICB Public Sector Accounting
Association of Accounting Technicians of South Africa
Classes that prepare you for assessments of the Association of Accounting Technicians of South Africa can be accessed to offer you the right theoretical framework for the accounting or accounting profession. Register for these classes in order to have a proper grasp of exactly what to anticipate during evaluations and acquire a proper grip for your professional profession.
South Africa Institute of Chartered Accountants
The South African Institute of Chartered Accountants or SAICA has various levels of assessments and you can have a correct grasp of the evaluation syllabus with preparatory classes customized to offer you an effective result.
Institute of Certified Bookkeepers, South Africa
The Institute of Certified Bookkeepers, South Africa licenses your certifications and you can become a member having completed an acknowledged core curriculum. Receiving well-thought out classes that comply with the expectations of the ICB will lead you to an excellent start as you complete your bookkeeping education and pass the expected examinations in flying colors.
Last updated : March 25, 2019