Abuja, the Federal Capital Territory is the place where all of the magic happens. From government agencies having their headquarters there to embassies and big private sectors. As an accountant with great qualifications and work experience, choosing to utilize your accounting skills in Abuja is a great decision.
Whatever your knowledge is in the accounting field, you get to work everywhere within Abuja. Tax accountants and Forensic accountants are more likely to be in demand. It is one of the states that have a higher number of federal institutions. Moreso, with the Federal government in Aso Rock, your experience and qualifications in accounting can get you the opportunity to work with them.
So, whether you have decided to take accounting as a full-on career, a knowledge you would like to acquire or a professional course in Abuja, we will be listing out the places to consider along with other tips.
Why Do You Need Accounting?
All organizations in different fields have an accounting department.
Consider the fact that Accounting has survived social and economic changes even with the major technological advancements.
Technically, as an accountant, you're in charge of financial record keeping which is a function that begins from gathering data, reporting and recording it based on proper accounting principles.
There is always a need to control how money flows within companies, to ensure the accountability of funds so that no money goes missing.
An Accountant's role is a very vital part of the business in all fields. Thus, whether it is the entertainment industry, government agencies, private sectors, startups, or individual businesses, accounting departments are always at the top of their game. Usually, accountants will help you with financial planning, management, investment opportunities and many more.
For prospective accountants, having a career in accounting allows you to advance your professional qualifications. Different institutes within Abuja can provide you with the right qualifications and help you get the job you always wanted.
As a business owner, growing your business needs an accounting business developer. Their knowledge of the accounting principles will help expand your business.
Where To Find Accounting Courses In Abuja
If you would like to study in Abuja, different institutes offer accounting courses. For people who would like to pursue a university degree, Abuja has some universities you might want to consider.
The University of Abuja is a good option to consider because of its impeccable accounting lecturers. They aim to expose students to the heart of Financial Accounting with topics that will train them in making proper financial decisions. As well, they will have the necessary theoretical and practical skills needed to run a business.
It is a four-year bachelor's degree program. When you graduate, you can work everywhere; having career opportunities as Budget Analysts, Tax accountants, amongst others.
To gain admission into the university, you're expected to have five credit passes including, Mathematics, English Language and Economics in your WAEC/NECO or any equivalent examination. During your JAMB exams, you're required to take all three subjects listed above along with any other two social science subjects.
Would you prefer to study at a private university? Then you should register under Baze University. The university offers admission to students who have good accounting skills. The degree program is designed to fast track your accountancy qualification.
In your third year, you will be offered a paid work placement for one year. This allows you to utilize the accounting and finance theories you have learned in the business world. You also get exemptions from certain examinations at the major professional bodies in Nigeria.
It is also a four-year accounting degree. You will be provided with accounting skills and techniques that will equip your accounting profession.
To qualify, here are the requirements:
- Candidates who wish to gain admission through JAMB are required to have at least 5 credit passes in the relevant subjects including English Language, Mathematics and Economics in the WAEC, NECO or any equivalent certification.
- Direct Entry students are required to present their HND, IJMB or any equivalent qualification before being admitted.
What Kind of Accountant Would You Like To Be?
For people who are going to universities and polytechnics to get their accounting degree, you've already made up your mind about what you would like to be.
However, if you're considering changing career paths, here's a breakdown of specialities different accountants practice:
- A managerial accountant produces reports only for use within the company. They are specialists in cost accounting and budgeting.
- A financial accountant, on the other hand, works within an organization to keep a record of transactions and provide reports to tax authorities, shareholders and other external bodies of the company. They practice double-entry bookkeeping and are experts at handling the general ledger.
- A tax accountant is very conversant with the tax codes. He/she ensure businesses and individuals stay in compliance with their tax burdens.
- An auditor can act as checks and balances for a tax accountant. The auditor examines a taxpayer's books to ensure they have complied with the relevant laws. You may be flagged for an audit of something really dramatic happens. For instance, an extremely high increase in income or a drastic fall in income. Another is if a large amount of money moves in and out of your account.
- A forensic accountant comes in when there is a sign of financial fraud. He/she studies the company's books to find evidence.
- A public accountant is also known as a Chartered Public Accountant (CPA). They are generally multitaskers. The field they multitask in includes providing financial consulting services to businesses and individuals, financial planning and taxing, and even forensic accounting.
They are also the only ones who are likely to freelance or establish a business for themselves. Chartered accountants, unlike public accountants, work in an office with other accountants.
Of all the types of accountants listed here, only the certified public accountant is likely to freelance or establish him/herself as the sole owner of an accounting business.
If you like to become a chartered accountant or preferably, a public accountant, one of the most common professional body is the Institute of Chartered Accountant of Nigeria or ICAN. There you will learn the principles you need to help kickstart your accounting journey.
How To Become An Accountant
To become an accountant in Abuja, you need adequate knowledge and skills. Be aware that you don't necessarily have to go to the university to qualify to be an accounting.
While a lot of professional bodies in Nigeria may request it, they always provide alternatives. For instance, ICAN requires that you go for the Accounting Technician Scheme first before advancing to go for their professional course.
Additionally, you can take the Association of Accounting Technician (AAT) courses. It is a globally accepted qualification and getting it gives you the accounting skills and awareness needed. Additionally, the qualification grants you access to train under more professional bodies and can even go as far as giving you exemptions in certain exams.
How To Become A Certified Public Accountant In Abuja
As stated above, a chartered accountant is different from a public accountant. This is the only profession in the accounting field that can allow you to freelance as a consultant amongst other things.
Even though both Chartered and Public accountant perform the same functions, a chartered accountant is likely to work at offices a lot more than a public accountant.
So, if you're naturally a leader and would like to start your own financial company, then being a CPA is the way to go.
Taking the CPA exams is not as easy as it may appear and it's important to get prepared as much as possible. Taking the ICAN and AAT courses will help prepare you for what's ahead.
If you would like to take the exams, you will first need to register as a National Association of State Boards of Accounting (NASBA) candidate. NASBA administers the uniform CPA exams. You're expected to write 4 papers and you're to pass all at once.
Finding A Tutor in Abuja
Let's be honest, accounting can be tough. You may just get stuck on the principles of accounting and would need a bit of tutoring. Lectures and sometimes friends might help. However, you need someone who is truly professional at what they do.
If you have decided to choose the accounting career path, you should be prepared for the hurdles that will come. There are certain courses that you will easily pass, others may prove very difficult.
In Abuja, Superprof has 25 professional tutors who can teach you several accounting topics. An added advantage is that you won't have to pay for the first lesson. You also have enough time to evaluate what your classes would be like.