There are four broad fields of accounting: public accountancy, management accountancy, government accountancy and internal auditing.
Each of these fields demands the qualities of determination, precision and dedication from their alumni.
Although this particular career path may not be seen as a life lit up in lights, it is one that has more to offer than most.
Here you will find detective work and exploration, analysis and problem solving, and strong communication skills.
The job is diverse and demanding. For those who thought it was calculators and dark rooms, you are about to think again.
At a recent conference at the South African Institute of Professional Accountants, Finance Minister Pravin Gordhan said that the accountant’s role is increasingly important in light of the issues facing today’s society and economic climate, and that accountants could be a part of the catalyst for change.
The bookkeeper, the chartered accountant (CA) and the tax consultant can work in any industry and tackle any market and, while their essential roles may vary, the demand for trained financial minds is still on the rise.
What other occupation can say the same in South Africa’s struggling employment economy?
“Accounting brings an understanding of business,” says Jan van den Handel, group finance manager for international operations at Business Connexion.
“The value of my CA qualification is that it has allowed me to really get to grips with how businesses operate and where responsibility lies.”
Through this vocation graduates are able to explore a myriad of industries. This does not just apply to the high flying CAs.
It’s easy to dismiss the entry-level roles, but as Guillaume Jordaan, tax consultant at Chess Accounting Consultants, says: “Choosing a career in accounting is like choosing a career in any type of business. All organisations out there, at some point in time, will need the services of an accountant.”
Helen Bimbassis, director for education at the South African Institute of Chartered Accountants (Saica) agrees: “The roles of bookkeeper, accountant, clerk — we most certainly need these skills. They have loads of value to add to every company and most certainly to the economy.”
Jordaan’s chosen career was to step into the world of the tax consultant and be the link between the government and the taxpayer.
“We are registered tax practitioners and the information we collect is directly from our clients and their bookkeepers or accountants. We submit various types of returns to the South African Revenue Service (Sars) and become the primary contact, dealing with queries between them and the client.”
Whether it is a bookkeeper or a tax consultant, most businesses will need the services of a well-trained financial mind to help them understand the ins, the outs and the law.
In an economy that’s battling the swells of a financial typhoon, the career of accountancy has never been more valuable, more needed and if you are good enough, the world is your calculator.
Busisani Mhlambi CA (SA), a senior lecturer at the University of Johannesburg, says: “This is a very dynamic career because it offers you a number of opportunities, not only in South Africa, but around the world. Even after qualifying you have plenty of career paths to choose from. The road is tough and demands commitment and determination, but it is worth the hard work and time you put into it.”
A personal choice
There is no way around the fact that this career requires a personality with absolute focus on the details.
Saica states that the reputation of any CA is built on integrity, ethics, technical excellence and training. These qualities are specific to all facets of the accounting world.
“Accounting is about doing it right at the right time,” says Jordaan, “It’s time consuming and doesn’t allow for shortcuts to be taken. If you are not a stickler for accuracy, not task orientated or get bored with repetitive tasks, then you’re going to have a hard time here.”
Shoki Mphelo is a superb example of how numbers can put you on the fast track to success.
She was one of the lucky few to be selected for the Saica Thuthuka Bursary Fund (TBF) and now works at Deloitte as a manager in the accounting and financial advisory division.
“I grew up in a small township in Limpopo called Lebowakgomo,” says Mphelo.
I wanted to make the situation at home better and chose the CA route as it was a fruitful career that was challenging and in demand.
“Being part of Thuthuka encouraged me to achieve the best results and, even though I lost both my parents while I was studying, TBF supported me throughout that time. Today I serve to be a proud role model to my siblings, the children in my community and those around me.”
Not all graduates receive a bursary or are able to put themselves through the punishing and costly study regime that is required of a CA.
There are limited bursaries and budgets are shrinking. That doesn’t stop the determined, and many people study their BComm while working part-time in clerical roles.
As bookkeepers or clerks they may not think they are able to reach the heights of chief executive in a mega corporation, but they are wrong.
“Can a bookkeeper get to a chief financial officer role?” asks van den Handel.
“Yes. It depends a lot on what that individual does to achieve that goal; we have a lot of people who are studying part-time and doing clerical work to fund their way.
“Whether they take the CA route will depend on how they apply what they are learning to their daily jobs.”
He believes that although many qualified people are put into a managerial role, they have not been exposed to the details, they have not done it before and are not clear as to what is involved.
Someone with experience in the basics, by contrast, has that understanding and can apply it to further their careers through study and planning.
It may be a long road, but anyone with the groundwork and determination can beat a pathway to success, he says.
The flexibility that comes with this career is superb. Those with the degrees, the knowledge and the passion can become stockbrokers, lecturers, tax consultants, financial advisors, chief executives and auditors for example.
What other studies give so much space to grow and change?
Jordaan has a very individual view as to the value of the accountant: “We need entrepreneurs and inventors to boost our economic growth; they don’t need to waste their time on bookkeeping and so forth.
“Accountants have been around forever and they will remain here forever. Our profession is wide and has various levels of qualifications. Just take a look at how many listed companies are headed up by a CA and that alone should give students the assurance that their accounting qualifications can take them places.”