Accounting
Thinking about having a career in the field of Finance? Accounting can be the job for you. Today there has been a shortage of accountants in South Africa, with organizations being forced to source and employ foreign nationals to fill in the positions. The accounting profession has found itself on the Critical Skills List of 2021, further cementing its importance of this profession. In recent years, the demand for accounting jobs has outpaced the supply. The reason for this phenomenon can be traced to rapid digitalization and a change in policies and regulations. Accounting comprises different facets, from auditing, management accountant, tax accountant, and Consultants to challenging roles like forensic accounting.
What does an accountant do?
Even though accounting has many different faces, the main role of an accountant is to prepare financial records, examine them, and produce a well-documented report. Accountants are also responsible for reconciling bank accounts, recording monthly expenditures, and preparing tax returns.
Here is a summary of Accounting Activities:
- Preparation of tax returns
- Preparation of financial records
- Managing payrolls
- Auditing
- Preparing financial reports and commentaries
- Budget preparation
- Examining accounts and business strategies
- Compliance
- Financial forecasting
Qualifications and skills required for you to become an Accountant.
Generally, to become an Accountant a bachelor’s degree in Accounting or Finance is a major requirement. Entry-level accounting jobs do not need any major prior work experience, however senior accounting positions such as Forensic Accountant and Chartered accountant require vast experience and additional certifications.
The minimum requirement for being an Accountant in South Africa is a bachelor`s degree or advanced diploma in Accounting (NQF level 7). You also need to be registered with a South African Institute of Professional Accountants (SAIPA) accredited center or institution to be a professional Accountant in South Africa. Accounting experience is also required to be a professional and this experience comes in many forms from learnerships, and internships to apprenticeship programme participation. The final stage of being a professional Accountant in South Africa is the completion of evaluation tests and exams to prove your accounting ability and experience in the field.
Skills required by an accountant.
- Integrity/Honesty/Respect
- Time management and ability to meet deadlines
- Teamworking ability
- Communication skills
- Interpersonal skills
- Investigative skills
What to expect
Almost every organization requires an accountant to prepare and monitor their books hence the job outlook for accountants is very high. Accountants are spoilt for choices when it comes to choosing firms they can work for, they can work for a business as an in-house accountant, for an accounting firm as part of their team, and even work for the government as a public sector employee.
The job is normally a typical 8-5 occupation in an office environment, you also find yourself working weekends and overtime during busy periods of the year. The job can be pretty demanding in some instances and requires an individual who is well-organized and principled. The average accountant in south Africa earns an average salary of 30 000 Rands that is on a monthly basis. All of this of course depends on experience and type of job, those with senior accounting positions and vast experience earn considerably more than those with less experience and lower positions.
Conclusion
Those wishing for a career in accounting can visit SAIPA’s website to better understand the requirements needed for the job. With the rise in demand for accountants nationwide, you won’t regret joining the industry.
In search of accounting jobs check accounting jobs here.
