How To Become An Accountant In South Africa

An accountant is a professional who is responsible for keeping and interpreting financial records.

Below is How To Become An Accountant In South Africa

What does a Professional Accountant do?

Accountants are tasked with giving clear records of financial transactions for either an individual or a business. The job can be quite demanding but can open you up to career opportunities within almost any industry.

Tax season is generally the busiest time of year in accounting, and there is also the chance of assisting in examinations and audits of financial records. There is a lot of flexibility in the type of accounting you can do, from monitoring the books of private individuals to conducting financial studies for large-scale corporations.

Some typical accounting activities include:

Planning and budget meetings

Assisting with strategic planning to control costs

Performing independent reviews

Checking the financial practices follow the law

Balancing accounts and preparing financial documents

Providing recommendations on investment opportunities

Preparing tax returns

Entering and monitoring financial data

What do I need to study to become an accountant in South Africa?

School subjects:

At the high school level, you will need to choose Mathematics (Not Maths Literacy) and Accounting (preferably), matriculating with marks that will ensure you get a university pass. This will lay the foundation in accountancy and financial knowledge, while also instilling the correct logic and process of thinking to succeed in the profession.

Tertiary subjects:

After matric, you will need to enroll in a tertiary institute and complete a Bachelor of Commerce degree – or equivalent qualification at a SAIPA-accredited institution. The core subjects you’ll be studying are:

Financial Accounting 3

Taxation

Auditing 1 OR Internal Auditing

Commercial Law

Finance OR Management Accounting 3

Is there a demand for accountants in South Africa?

“8% of our respondents report difficulty in recruiting skills in the accountancy and finance fields,” she said. Asked why there are not enough local accountants, Jacobs says the problem is relative: “There are definitely many qualified accountants in the country but demand outpaces supply.”