What is Accounting?
Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities.
The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company’s operations, financial position, and cash flows.
What Is The Best University To Study Accounting In South Africa?
1. University of the Witwatersrand
The University of Witwatersrand is one of South Africa’s most accomplished Universities; it has both age and reputation to boast of. The University is located in the industrial capital of South Africa (Johannesburg), Gauteng province. This means that students can readily be attached to any of the University’s partners, for training in the field.
The University of Witwatersrand has gained a reputation for producing some of the top ten performers in the national SAICA CTA examinations.
Requirements for entry into the University of Witwatersrand School of Accountancy are a minimum APS of 39 along with Mathematics and English.
2. University of Johannesburg
The University of Johannesburg is one of the country’s largest Universities. The institution has 4 campuses located in Johannesburg.
This is one of the leading accounting schools in the country; students of this institution have consistently been high achievers scoring high pass rates in the CTA exams over the years.
Accounting at the University of Johannesburg takes three years to complete. Requirements include an APS of 28 with level 4 English and level 4 Mathematics. However, competition for places is very stiff; many get rejected.
4. Stellenbosch University
Stellenbosch is one of the finest Universities in South Africa. This University is also based in Cape Town and is rated as one of the best to study Accounting.
The school of accounting has been in existence since 1925 and is the largest school in the Faculty of Economics and Management Science.
Requirements for the BAcc and BAccLLB degree are an NSC average of at least 70% excluding Life Orientation, and a score of at least 60% in Mathematics, 70% in Accounting, and 60% for English or any additional home language.
5. University of Pretoria
The University of Pretoria (UP) is one of the oldest, most illustrious, and top accounting universities in South Africa. The University’s School of Accounting and Auditing was founded in 1924. The school is situated in the administrative capital of the country, giving students the kind of exposure they wouldn’t get elsewhere.
Furthermore, the school faculty is made up of highly qualified personnel, most of whom are registered with the accounting professional boards.
Requirements to study Accounting at the University of Pretoria include an APS of 34, Mathematics level 6, and English Home Language or English First Language level 5 scores.
6. North-West University
North-West University is one of the best accounting universities in South Africa. This school has consistently produced students who have scored high marks on the CTA exams. The University offers accounting degree programs in all fields of study.
Chartered accountancy, management accountancy, and financial accountancy are all offered at the University, and the three campuses; Potchefstroom, Vanderbijlpark, and Mahikeng all offer these programs.
Additionally, the university also offers a degree in general accountancy at Vanderbijlpark Campus and forensic accounting at Potchefstroom.
Requirements to study for the BCOM degree include an APS of 30 in Chartered Accountancy and Management Accountancy.
An APS of 28 is required for Financial Accountancy and 24 for the General Accountancy degree. Requirements to train for the BCom degree in forensic accountancy include a minimum APS of 36.
You still need an NSC average of at least 70% excluding Life Orientation, and a score of at least 60% in Mathematics, 70% in Accounting, and 60% in English or any additional home language.
7. University of KwaZulu Natal
The University of Kwazulu-Natal, UKZN is another great place to study accounting in South Africa. The UKZN School of Accounting, Economics, and Finance is fully accredited to offer BCom Accounting Degrees and the CTA.
Despite being a new school, this University has already gained a solid reputation as its students have consistently attained a pass rate of at least 90% in the CTA exams.
8. University of Cape Town
The University of Cape Town is South Africa’s oldest university, and also one of the most popular. Some of the most prominent South African Accountants, even those practicing abroad, have graduated from this institution. The College of Accounting at UCT is the most illustrious.
Requirements include NSC six subjects including English and Mathematics. Life Orientation is not included but is required as well. Applicants holding a South African Senior Certificate need matriculation endorsement.
9. Rhodes University
Rhodes University was established in 1904. However, the University became independent in 1951. The university is located in Grahamstown in the Eastern Cape Province of South Africa.
This is one of the oldest and most formidable citadels of learning in the country. Its Department of Accounting focuses on producing students with professional competence to become industry leaders.
10. University of South Africa
The University of South Africa, UNISA is one of the oldest and best accounting universities in South Africa, with a history dating back as far as 1873.
Apart from the age of the institution, there is the fact that this is one of the most recognized Universities in South Africa; it has over 300,000 students, a significant number of them being from other countries.
Its Department of Accounting produces students that are well rounded, with a skill set that includes analytical knowledge, communication, and teamwork.
Which accounting degree is best in South Africa?
University of Pretoria (UP)
The public research institution has a student capacity of over 56,483 and an acceptance rate of 15%. UP is ranked as the best accounting university in the continent and often appears among the top 1.9% of tertiary institutions in the world.
How long does it take to study accounting in SA?
This is a postgraduate course – your fourth year at university – and focuses on Accounting, Auditing, Taxation, and Financial Management. It takes a minimum of one year to complete and must be completed at a SAICA-accredited university.
Is it easy to get a job as an accountant in South Africa?
According to a government notice sent out by the Department of Home Affairs in February 2021, the chartered accountancy skill is cited on the South African scarce skills list.
This means there’s an exceptionally high demand for this unique type of skillset in the country, but not enough qualified individuals.
What qualifications do you need to be an accountant in South Africa?
To become a registered Professional Accountant (SA) you will need to complete a degree or Diploma from a South African Institute of Professional Accountants (SAIPA) -an accredited institution as well as a three-year learnership at an accredited training center, or complete six years of verifiable experience.
How much does it cost to study to become an accountant in South Africa?
Estimated tuition fees per year (SA and SADC countries citizens)
Is accounting a good career in SA?
Good earning potential: Accountants in South Africa are among the highest-paid professionals in the country.
The average salary for a qualified accountant in South Africa is around R580,000 per year, with experienced professionals earning even more.