Technical Financial Accounting Diploma (ICB)

Course details

The ICB National Diploma in Technical Financial Accounting aims to equip learners to perform the accounting function in small organisations and to provide support to Accountants and Financial Managers in medium and large organisations.

On completion of this programme, you will be qualified as an Accounting Technician and Certified Tax Technician. You will be able to operate with management in an accounting environment; know the ins and outs of accounting, taxation, auditing and business law; and understand how tax works for inpiduals and companies.

UniCollege provides tuition and support towards this ICB qualification and is an accredited ICB training provider.

About the Programme

• This qualification has been developed as a comprehensive set of key competencies in Accounting so that it applies to a wide range of different types of accounting positions in a variety of organisations. This qualification aims at equipping learners to perform the Accounting function in small organisations and to provide support to Accountants and Financial Managers in medium and large organisations.
• On completion of this programme, you will be qualified as an Accounting Technician and Certified Tax Technician. You will be able to operate with management in an accounting environment, become a SAIT-recognised tax practitioner, know the ins and outs of accounting, taxation, auditing and business law, and understand how tax works for inpiduals and companies.

Career & Job Opportunities

This programme will prepare you for many career opportunities in finance and accounting, including:

• Technical Financial Accountant
• Accounting Technician
• Certified Tax Technician
• Junior or Senior Bookkeeper
• SARS Returns Clerk
• Cost and Management Accounting Clerk
• Income Tax Clerk
• Business Law Clerk
• Auditing Assistant
• Entrepreneur
• Debtors Clerk
• Creditors Clerk
• Payroll Clerk
• Accounts Payables/Receivables Clerk

About the ICB

All ICB qualifications are registered on the NQF and the outcomes are relevant to the South African market. The ICB is owned by the Institute of Financial Accountants (IFA) and the International Association of Bookkeepers (IAB), both based in the United Kingdom. Together, the ICB, IFA and IAB represent over 35 000 Bookkeepers, Accounting Technicians and Financial Accountants in over 100 countries. Learners who have achieved certain qualifications of the ICB may apply for membership of the IFA and IAB.

Programme Benefits

• The programme is unit standards based and aligned to the NQF (National Qualifications ramework)
• The programme allows the learner the right to apply to the ICB to register for the professional bookkeeping designation Certified Technical Financial Accountant - CTFAIcb(SA) and receive the applicable membership benefits
• Learners can apply to the SAIT for registration as a Certified Tax Technician - CTT(SA) to receive a tax practitioner number allowing them to complete monthly SARS and income tax returns
• Learners can continue with studies towards the NQF Level 6 National Diploma: Financial Accounting

Module (learning area) outlines

Bookkeeping to Trial Balance

• This module introduces the learner to source documents, the rules of double entry, subsidiary journals, the general ledger, bookkeeping for the different inventory systems and bank and creditors reconciliations. It will provide skills for the Accounts Clerk (the inpidual that processes monthly financial transactions) and the Debtors and Creditors Clerk functions.

Payroll and Monthly SARS returns

• This module revises the manual monthly bookkeeping function. It will introduce learners to payroll and the Basic Conditions of Employment Act as well as basic business ethics. Learners will be able to complete the payroll function from the bookkeeping perspective. A learner will be able to complete the SARS payroll returns (EMP201, IRP 5, IT3a, IRP501) and the VAT201 return.

Computerised Bookkeeping (including Pastel Accounting)

• It is essential that the Technical Financial Accountant be able to work effectively on a computer. Learners must demonstrate this competence in basic business computing and a computerised accounting package. Learners are prepared to complete the ICB Computerised Bookkeeping PoE which includes the completion of the monthly bookkeeping cycle on Pastel and Excel, Word and PowerPoint.

Financial Statements

• This module provides skills for depreciable asset disposal, year-end adjustments, preparation and analysis of financial statements for sole proprietorships, partnerships, close corporations and companies. It includes a comprehensive study of cash flow statements.

Cost and Management Accounting

• In this module, learners are introduced to accounting for a manufacturing concern, break even analysis, cost-volume-profit analysis, budgeting and standard costing, financial management and business ethics.

Income Tax Returns

• This module involves a thorough study of taxation. Learners will be able to compute taxable income and tax payable for inpiduals and businesses, submit tax returns, acquire a working knowledge of estate duty and provide taxation planning advice to clients.

Business Law and Accounting Control

• A module covering basic contract law, insolvency law, estate planning, internal and computer auditing.

Business Literacy

• This module covers the outcomes of the fundamental unit standards required for the National Diploma Technical Financial Accounting. Even if the inpidual is in possession of a Level 4 (Grade 12 or equivalent) certificate he/she must still complete this learning area due to the fact that the fundamental unit standards of this qualification are registered at NQF Level 5, not Level 4.