Would you like to:
- Learn about the accounting cycle?
- Learn how to maintain and interpret financial records?
- Gain the skills you need to work as a bookkeeper or accountant?
At Oxbridge Academy, you will have the opportunity to develop your bookkeeping and accounting skills by studying from home via distance learning. You can choose from a wide variety of courses, including national qualifications.
Need more information about studying bookkeeping and accounting?
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How can I benefit from studying bookkeeping and accounting at Oxbridge Academy?
- You can develop your bookkeeping and accounting skills in your own time from home.
- You can choose to study a course that suits your professional needs.
- You will get help from a tutor if you need any assistance with your studies.
- You can pay for your studies in affordable monthly instalments.
Feedback from our bookkeeping and accounting students
What is the difference between bookkeeping and accounting?
Bookkeeping and accounting are similar in the sense that they both involve working with financial data, and they both play a role in the accounting cycle. Bookkeeping, however, is only involved in the initial recordkeeping stage of the accounting cycle.
For a better understanding of the differences between bookkeeping and accounting, have a look at the following definitions:
Bookkeeping involves the accurate recording of the financial transactions that take place in an organisation on a daily basis. General bookkeeping tasks may include:
- making journal entries
- posting journal entries to ledger accounts
- filing source documents
- paying accounts
- preparing invoices
- sending statements to customers/clients
- processing payroll data
Accounting, on the other hand, involves recording, classifying, summarising, reporting, analysing, and interpreting the financial data so that it can be used for decision-making by senior management. General accounting activities may include using the data recorded during the bookkeeping process to:
- draw up financial statements
- perform calculations
- compile financial reports
Unlike bookkeeping, accounting is divided into specialised branches, including financial accounting, management accounting, tax accounting, and auditing.
While in theory there is a clear distinction between bookkeeping and accounting, there is an overlap of the roles of bookkeepers and accountants in practice. In a small organisation, for example, you might find that the bookkeeper is responsible for preparing the financial statements, even though this is technically part of accounting rather than bookkeeping.
To carry on reading about the differences between bookkeeping and accounting, click here.
Why should I consider becoming a certified bookkeeper?
Employers are often keen to hire certified bookkeepers ahead of non-certified bookkeepers. The reason for this is that bookkeeping certification acts as a form of assurance – a bookkeeper only becomes certified once he or she has reached a certain level of skill.
Bookkeeping certification in South Africa is handled by the Institute of Certified Bookkeepers (ICB). To become an ICB-certified bookkeeper, you will need to complete an ICB bookkeeping course, pass the relevant ICB exams, and register as a member of the ICB.
The benefits of becoming a certified bookkeeper include the following:
- It increases your credibility as a bookkeeper.
- It distinguishes you as a professional.
- It can increase your earning potential.
You can find out more about bookkeeping certification and the ICB by clicking on the following link: Institute of Certified Bookkeepers (ICB).
Career opportunities in the field of bookkeeping and accounting
Bookkeeping and accounting play an integral role in the business world. As a result, bookkeeping and accounting skills will always be in demand.
Some of the careers that may be open to those who have studied bookkeeping or accounting include:
- Accounting Clerk
- Office Administrator
- Payroll Administrator
- Technical Financial Accountant
- Management Accountant
- Tax Accountant
- Financial Manager
- Financial Advisor
Accountants also have the option of furthering their studies and working towards positions such as Company Secretary, Accounting Officer, Chief Financial Officer, or Auditor.
To find out more about the various career options that are available in the field of bookkeeping and accounting, click here.