Financial Accounting

In the financial accounting field, your main focus will be the preparation of financial statements. Financial statements are used by banks, Inland Revenue, suppliers, shareholders and other stakeholders to evaluate the financial performance and position of a business. In order to be of value, financial statements must not only be accurate, but also comply with prescribed accounting standards such as IFRS (International Financial Reporting Standards) or other applicable standards.

Ideally, persons in the financial accounting field should have a sound understanding of applicable standards, need to understand the processes as to how an accounting system works and should also have a good working knowledge of applicable tax legislation. Generally, financial accountants are tasked with reporting financial data to persons outside of the business entity.

Financial Accountants are primarily found in a Professional or Public Accountant’s Practice serving a variety of different clients; or as financial managers at a firm that is engaged in commerce or industry, looking after the needs of only one particular company or group of companies.

At FCS, we offer opportunities not only to qualified financial accountants, but also train persons to become financial accountants. The incumbent needs to be willing to sign an official Trainee Agreement with us, which will be registered with and monitored by the Namibia Institute of Professional Accountants (NIPA). Studies are then undertaken part-time through UNISA towards a B.Compt degree or a B.Com degree with Financial Accounting as a major subject. Studies and the practical training period should be completed within 5 years.