Category Archives: accountant

This is the most generic roles for CA’s and exist any nearly every industry, from financial services, retail, government, manufacturing, entertainment, technology etc.
Experience in the relevant industry of the role could also be a requirement, therefore if your article/most recent work experience was in financial services, finding a financial accountant role in eg retail/technology industries could be a challenge. Knowledge, passion and willingness to learn could compensate for direct experience.
Below you will find a breakdown of the most typical kinds of accountant roles in the market place for CA’s:

traditional career paths – tax accountant

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Overview The tax accountant position is accountable for the collection of tax-related information, reporting to taxation authorities in a timely manner, and advising management on the tax impact of various corporate strategies. The tax accountants tax expertise of one jurisdiction e.g. South Africa usually limits to him to local roles, as each country’s tax legislation differs. This is however a highly sought after direction with great earnings potential if your good and passionate about tax.
Example of responsibilities
  • Completion of deferred tax calculations
  • Assistance with completion of tax calculations and tax returns
  • Assistance with responses to tax authorities on various tax queries
  • Assistance with managing the various tax advisors used by group companies
  • Completion of tax budgeting and planning calculations
  • Assistance with documenting and resolving tax issues
  • Assistance with tax planning
  • Assistance with Audit Committee tax reporting
Experience/ qualifications required
  • Qualified CA with post qualification experience, particularly in tax depending on role level and company
  • Post-graduate degree or diplomas in taxation will be advantageous.

 

traditional career paths – bookkeeper

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Overview
  • Entry-level accountant role, applicable to almost all business.
  • Responsible for day-to-day basic accounting functions.
  • Reports to the financial accountant/ manager/ controller depending on company.
  • CA qualification not usually required, as accounting agree with/without articles should suffice.
  • This is therefore a good entry point role if you like accounting but do not necessarily want to put yourself through the formal CA qualification.
Example of responsibilities
  • Daily process/ capture bank statement
  • Bookkeeping to Balance Sheet
  • Prepare payment requisitions
  • Bank & Petty Cash Recon monthly
  • Billing clients
  • Prepare Age analysis
  • Proper/ Correct allocation of cash receipt
  • Able to do a Pro-forma / Quotation & invoicing
Experience/ qualifications required
  • B.comm/ B.Acc/ Business Science degree minimum
  • Experience required based on role and company

traditional career paths – fund/ trust accountant

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Overview A Fund/Trust Accountant is primarily responsible for all aspects of day-to-day accounting for one or more assigned Unit trusts, hedge funds, institutional funds and or private client/institutional trust structures.
Example of responsibilities
  • Prepare timely and accurate Net Assets Values, yields, distributions, and other fund accounting output for subsequent review
  • Record accurately, and in accordance with policies and procedures, such accounting records as securities positions, corporate actions related, and journal entries
  • Reconcile various accounts, or reviewing reconciliations prepared by others, and promptly researching and correcting any variances
  • Assist, as assigned, in preparing audit schedules, compliance reports, tax returns, financial statements, or other reports
  • Write reports periodically to management on Fund activities and other related issues
  • Research, as assigned, certain securities in Fund portfolios for the purpose of ensuring proper accounting treatment (such as the nature of distributions, original issue discounts, and international valuations) and compliance with regulations, tax, and prospectus restrictions and limitations
  • Preparing, reconciling and distributing reports to/from marketing, separate custodians and investment management
Experience/ qualifications required
  • Qualified/ part qualified CA depending on company and role

traditional career paths – forensic accountant

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Overview Various terms are often used to describe the individual responsible for performing commercial crime investigations pertaining to a financial nature. These terms may include fraud examiner, fraud auditor, forensic auditor, fraud accountant, financial crime investigator, etc. Forensic accounting is a branch of accounting that not only requires knowledge of accounting and auditing principles but also the ability to work on investigation and litigation teams to look into illegal financial activity and assist in litigation processes.
Example of responsibilities
  • Forensic accountants often specialize in one area of investigation, such as insurance claims, fraud, tax crimes, or money laundering
  • The common denominator of forensic accounting is the ability to analyze and report on financial data and evidence, have a keen understanding of basic accounting and basic legal concepts, and be able to serve as an expert witness in investigative proceedings.
Experience/ qualifications required
  • Qualified CA with post qualification experience depending on role level and company
  • Post graduate degree or diplomas will be advantageous (e.g. LLB, Masters in Forensic Accounting, post grad diploma in computer forensics);

 

traditional career paths – management accountant

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Overview Management accountants participate in decisions about capital budgeting and line of business analysis. Major functions include cost analysis, analysis of new contracts and participation in efforts to control expenses efficiently. This work often involves the analysis of the structure of organizations. Is responsibility to spend money in a company at the right level of our organization? Are goals and objectives to control costs being communicated effectively?
Example of responsibilities
  • Prepare, develop and analyze management accounting information
  • Leading a team of staff responsible for the production of management accounts
  • Producing weekly, monthly and quarterly management reports to senior management
  • Analyzing variances and exploring potential problems with line managers
, including making appropriate recommendations and advising of the impact on the business
  • Preparation of cash flow statements, income and expenditure accounts and tax returns
  • Improving the systems surrounding all aspects of the company’s budgets, forecasts and business planning
  • Establishing and maintaining costing models
  • Setting up and maintaining management reporting systems
  • Budgeting, planning and forecasting and implementing performance measures for the business
Experience/ qualifications required
  • Qualified/ part qualified CA depending on company and role
  • CIMA  (Chartered Institute of Management Accountants) qualification could also be a requirement – refer www.cima.co.za, as well as our back to school section for more info
  • Experience in the relevant industry of the role could also be a requirement

 

traditional career paths – financial accountant

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Overview Financial accountants prepare financial statements based on general ledgers and participate in important financial decisions. The financial accountant manages the overall books and records of the company, and his/hers responsibilities can be wide-ranging, depending on the company.
Example of responsibilities
  • Preparing monthly, quarterly & annual financial statements and reports for clients & company management according to relevant reporting standards (e.g. IFRS, US GAAP etc.)
  • Ensuring compliance with relevant legislation; preparing tax returns, PAYE & tax forms
  • Reconcile various accounts, or reviewing reconciliations prepared by others, and promptly researching and correcting any variances
  • Advising on financial aspects of businesses such as budgets, tax & cash flows
  • Ensuring financial & business matters are transparent, accurate & timely
  • Reviewing and improving accounting procedures & controls and analyzing financial performance of businesses
  • Supervising a team
  • Maintaining financial computer systems
  • Assisting management with strategic planning
  • There can also be a focus on other specific areas, such as treasury management (i.e. management of cash balances, funding, hedging, FX & interest rate management) or payroll accounting (i.e. monthly payroll calculations including related tax, pension fund accounting, group benefits, bonus calculations etc)
Experience/ qualifications required
  • Qualified/ part qualified CA depending on company and role
  • Experience in the relevant industry of the role could also be a requirement.