What Are Accounting Qualifications?

Accounting qualifications help students get into the accounting field. 

Here is a list of the best Accounting qualifications:

The ICB is a training programme for bookkeepers and has been in existence since 1931. The ICB is not a training provider or college. Watch the Matric College principal talk about the ICB.

  • The South African Institute Of Chartered Accountants 

Is known as the world’s leading accounting institute. They aim to support the growth of the South African economy.

  • The South African Institute Of Professional Accountants 

They have qualified accountants in the government sector. Their accountants focus on public interest.

  • The Association Of Chartered Certified Accountants 

Allows you to be recognised around the world. They aim to be ahead of the competition and create jobs.

  • The Chartered Institute Of Management Accountants 

This institute teaches students the basis of Management Accounting. 

  • The South African Institute Of Business Accountants 

These institutions offer many qualifications. They help manage all the finances of a business.

Accounting Qualifications

ICB Qualifications 

The ICB qualifications are split into three fields of study. All of which are Scarce or Critical Skills in South Africa. There are 12 subjects that build on each other. 

You can get your first Accounting Qualification after completing four subjects. This means that you have completed the ICB Financial Accounting: Foundation Level OR the National Certificate: Bookkeeping course.

These courses are for students that have a Grade 10 certificate and are at least 16-years-old. These are the three fields of study ICB offers: 

  1. Business Management
  2. Financial Accounting 
  3. Office Administration

Business Management

Business Managers are in charge of the daily operations of a business. They ensure company goals are met.

To gain entry into this course, students must have Grade 11 and be able to read and write in English. Matric College offers the following Business Management courses in the ICB stream:

Financial Accounting 

Financial Accountants are in charge of the business’s financial activity. Their job requires them to handle, among other things, payroll and taxes. 

To gain entry into this course, students must have Grade 10 and be able to read and write in English. Matric College offers the following Financial Accounting courses in the ICB stream:

Office Administration

This programme does not offer any Accounting Qualifications, but it does have subjects that are related to finances:

  • Bookkeeping To Trial Balance
  • Cost And Management Accounting
  • Financial Statements

You should consider doing this course if you are not sure whether an accounting course is the right choice for you. Complete this course with a Grade 12 certificate or a matric equivalent certificate. 

If you do not have the above-mentioned qualifications you can do the ICB bridging course.

Accounting is the more advanced level of bookkeeping. As seen with the diploma-level courses. This is why the average salary for Accountants in South Africa is R389, 620 a year. 

Accounting Qualifications

Why Choose ICB?

The ICB courses provide you with skills that are in high demand

  • Preferred By Employers 

The ICB offers high-quality courses which are favoured by employers

  • Internationally Recognised 

ICB Qualifications are accepted all over the world

  • Further Your Education 

ICB courses are split into different levels that allows you to advance in your studies

  • Study Via Distance Learning 

You can do ICB courses through distance learning where students set their study timetable

  • Save Money 

Distance learners spend a lot less on transport and this can add to a big saving 

What Subjects Do I Need To Study To Become An Accountant?

There are subjects you require at school level to enter an Accounting programme and there are also “common subjects” you will receive throughout your studies as an Accountant. Here are the two groups:

  1. High School Subjects
  2. Tertiary Subjects

High School Subjects

In high school, you will need to choose Mathematics (not Maths Literacy) and Accounting. You also need to pass Grade 12 with marks that would allow you entry into a university. You will learn the basics of accounting and finance.

Tertiary Subject

After matric, you will need to enrol in a Tertiary Institution and complete a Degree course. The main subjects are:

  • Financial accounting 3
  • Taxation
  • Auditing 1 or Internal Auditing 
  • Commercial Law
  • Finance or Management Accounting

How Long Is Training For Accounting?

It usually takes three to four years. You need to complete a Degree or Diploma course and have practical experience too. It is recommended that students first find work in the relevant fields to gain experience and study through the company.

Can I Be An Accountant Without A Degree?

Yes, you can. Having a Degree might make your CV look appealing but it is not needed to start your career in Accounting. With a junior-level Certificate, you can start your career in accounting. Here is a list of Accounting jobs you can do without a Degree:

  • Bookkeeping 
  • Accounting Clerk
  • Tax Preparation
  • Administrative Assistant
  • Collections 

Which Is The Hardest Accounting Qualification?

Decisions on which Accounting qualification is the hardest are dependent on the student and the type of qualification they enrolled in. As each qualification has its own pass requirements.  

What Is The Easiest Accounting Qualification?

Depending on your interest you can choose where you want to study. Each qualification has its own requirements and depending on the student’s ability to complete the qualification will determine whether it is easy.

Do You Need To Be Good At Maths To Be An Accountant?

No, you do not need to be good at math to become an Accountant, but you should have a basic understanding of it as you will encounter more math in Accounting than in any other career. That is why it is beneficial to have some knowledge of it.