People rarely know right away what career they should be in and it takes most people several
years to settle into the path they will follow. The list below is a list of some of the scarce and critical skills in the finance and accounting services sector:
ACCOUNTANT (NO PROFESSIONALDESIGNATION)
Accountants plan and provide systems and services relating to the financial dealings oforganisations and individuals, and advises on associated record-keeping and compliance requirements.
CHARTERED CERTIFIED ACCOUNTANTChartered Certified Accountants work in all fields of business and finance. Some are engaged in public practice work, others work in the private sector and some are employed by government bodies.
PROFESSIONAL ACCOUNTANT (SA) Professional Accountant performs a wide range of accounting and tax related services and is regarded as the business advisor to the SME (Small Medium Enterprise) offering tailored advice on business challenges and creating opportunities
of business success for their clients.
The final course of study is the CSSA International Qualifying Board Examinations. The CSSA International Qualifying Scheme is a rigorous course. Each qualification along the continuum renders the graduate employable and when accumulated, prepares governance professionals and accounting officers for the intense demands of the role of Chartered Secretary. Once a student passes all the exams they can apply to be a graduate (GradICSA) and then an Associate (ACIS) and finally a Fellow (FCIS). Continuing Professional Development ensures that all governance professionals and accounting officers are able to remain at the forefront of governance issues.
In addition to these one can follow the learning pathways leading to the designations conferred by the South African Institute of Tax Practitioners (SAIT). The first option is to obtain a Bachelor of Tax Degree. The second option is to obtain a Bachelor of Accounting Degree (or any other relevant Degree such as a law degree or a degree in management accounting), followed by a postgraduate qualification in taxation. In both instances, after three years’ of work experience in tax you can become a member of
SAIT with the designation General Tax Practitioner (SA) (if you work in private practice) or General Tax Professional (SA) (if you work in commerce and industry or for SARS).
The third option is to obtain a relevant qualification at NQF level 6 or higher in accounting, taxation or law and then to apply for the Learnership: Tax Professional Level 8. Completion of this learnership also enables you to become a member of SAIT
with the designation General Tax Practitioner (SA) (if you work in private practice) or General Tax Professional (SA) (if you work in commerce and industry, or for SARS).
The financial markets consist of the equities market, the bonds market, the money market, the foreign exchange market and the derivatives market.
Financial markets practitioners need to stay abreast with information on securities and market conditions and therefore they continuously analyse individual securities, industries and the economy. They also work with clients and before providing investment advice to clients, they identify the profile and the related investment needs of the clients.
They execute transactions in securities with or on behalf of clients and subsequently conclude or settle transactions and record the transactions in the relevant systems.
People who want to trade on any of the markets also have to write the necessary JSE exams administered by the South African Institute of Financial Markets. In order to obtain the designation ‘Stockbroker’ the stockbroker exams set by SAIS have to be passed.
Diploma in Accounting - students will normally be expected to complete the Certificate and Advanced Certificate stages but entry directly to the Diploma Stage is permitted provided you can satisfy the Association of Accounting Technicians’ entry requirements.
CERTIFIED ACCOUNTING TECHNICIANThe ACCA qualification is called Certified Accounting Technician (CAT). In order to become an ACCA-qualified accounting technician you need to complete the practical experience requirement (PER) as well as passing your exams and the professional ethics module.
Bookkeepers compute, classify, and verify numerical data in order to develop and maintain financial records. In smaller organisations bookkeepers handle all aspects of financial transactions. They record debits and credits, compare current and
past balance sheets, summarise details of separate ledgers and prepare reports for supervisors and managers. They may also prepare bank deposits and send cash, cheques and other forms of payment to the bank. The increased use of computers has allowed the use of specialised accounting software on personal computers.
Institute for Certified Bookkeepers (ICB) professional qualifications:
Certificate for Registered Bookkeeper (NQF 4)
National Diploma: Technical Financial Accounting (NQF 5).These two qualifications are registered as learnerships.