What is accounting?
Accounting can be described as a process of analysing, verifying and reporting the results of financial information to an organisation, government agency or individual.
An accountant analyses and evaluates the financial information of a business and communicates the findings to management so that management can make informed business decisions. Many accountants often specialise in a particular field of accountancy such as pure accounting, financial accounting, taxation, internal auditing, cost and management accounting.
There are four major fields of accounting:
- Management Accounting
- Government Accountants/Auditors
- Public Accountants
- Internal Auditors
Some popular Accounting careers in South Africa include:
- Accounting Clerk
- Bookkeeper
- Chief Financial Officer
- Chartered Accountant
What does it take to become an accountant?
To become an accountant you need to get the relevant tertiary degree or a diploma. You also need to have a flair and love for numbers with strong attention to detail.
Accounting careers require individuals to be able to communicate effectively and to be able to deal with people. Longer hours are common during busy periods, like tax time, so individuals need to be willing to work longer hours.
Nic Septhon-Poultney, County Manager at Robert Walters says, “The current job market for newly-qualified accountants is extremely competitive and organisations are very specific about who they recruit and what type of person they are looking for. Newly-qualified accountants need to build towards an end goal and to avoid disappointment, not expect to land their dream job as soon as they have completed their articles.”
In South Africa, Accounting careers are the second most in-demand jobs in the country. Chartered Accounting is the highest professional qualification in accounting in South Africa. It generally takes roughly 7 years of academic study and practical training to qualify.
According to SAICA, South African requires another 22 000 qualified accountants to fill the demand gap.