Accounting. What follows this word are people yawning, sucking their teeth and losing complete interest. Nobody is interested in your conversations about money calculations all day, especially in Nigeria. But is accounting only about calculations? Is it a boring profession where people would rather chew on their pens than listen to you?
There are lots of stereotypes surrounding the accounting field. One of the most common is how people visualize the looks of an accountant. A lot of Nigerians would imagine an old stout-bellied man wearing an old grey suit or a woman with dirty-looking shoes and a rumpled shirt. They are always middle-aged with glasses; looking gloomy and exhausted.
These are mere misrepresentations by the media and people. In reality, accountants come in different shapes, sizes, and ages. You shouldn't be surprised if an accountant loves the same music as you do or is much younger.
Another misconception is that most accountants do the number crunching. Accountants as number crunchers indeed deal with numbers. However, the bulk of their work is on forecasting based on trends and analysis.
Accounting as a profession is far from boring. Quite a lot of specialities focus on risk.
In the accounting field, you can choose from a variety of professions. If you love a lot of investigations, consider being a forensic accountant. Your role will be to search for fraud by reviewing financial records. Perhaps, you're very knowledgeable about Nigerian laws. Then tax accounting is the right career path. Here, you will use your tax knowledge to help your client and relieve them from heavy tax burdens. As a managerial accountant, you will be providing vital financial information of the company's assets and liabilities to help the executives make decisions.
When you choose to become an accountant, your career will most likely make you an expert. The reason is simple; Accounting offers so much professional training that will grow your experience and qualifications.
What exactly is Accounting?
Accounting has been existing long before it got its name. In ancient Mesopotamia, it was one of the cores of civilization, along with money and writing. In the Roman empire, detailed financial records were kept. With businesses moving on to new shores, the Middle East Jewish people invented the double-entry bookkeeping system.
Over the years, accounting has evolved. Now, with technological advancements, like accounting software, accountants do less number crushing.
Did you know Accounting and Auditing can be dated to over 5,000 years? Scribes were hired to keep track of properties by the wealthy.
The history of the principles of accounting that we all know today can be dated back to 1494. Its inventor, Luca Pacioli was a mathematician and is now acknowledged as the Father of Accounting. Mr Pacioli's dedication to accounting allowed him to write books. These books, in turn, gained a lot of recognition and created awareness. The act eventually led to accountants creating professional bodies to help share knowledge and skills and pass these pieces of information to a newer generation of accountants.
In Nigeria today, you can take accounting courses that interest you. Just as newer creations are arising, accounting is evolving. Currently, accounting professionals specialize in:
- Management accounting where you optimize a company's assets to boost their financial performance.
- Tax accounting involves being up-to-date with Nigerian tax laws and utilizing it to your company's advantage.
- Financial accounting requires preparing financial statements. These statements are reported externally to investors and shareholders.
- For accounting information systems, the accountant's experience and skills are extremely important. Single incorrect data entry can rupture the financial form of the company.
- Forensic accounting concerns itself with checking for financial fraud.
- Certified Public Accountants or Chartered accountants are public accountants who will help you with your property and taxes.
- Tax accounting that focuses solely on tax.
- Auditing involves verifying your financial claim as an individual or a company. Technically, asides from a professional auditor, a managerial accountant can conduct internal auditing. Also, companies can request for external auditing.
There are so many other accounting degrees you can choose. If you're currently in Calabar and would like to go for accounting classes, check out the topic below.
Accounting Classes in Calabar
There are several qualifications you can get to become an accountant. Some of these include:
- The ICAN or Institute of Chartered Accountants of Nigeria
- The ANAN or Association of National Accountants of Nigeria
- The ACCA or Association of Chartered Certified Accountants
- The CIMA or Chartered Institute of Management Accountants
- The AAT or Association of Accounting Technicians
- The CMA or Certified Management Accountants
The ICAN or Institute of chartered accountants of Nigeria is one of the most popular qualifications. The institute offers two qualifications; the professional examination is for university or polytechnic graduates while the Accounting Technician Scheme is designed for people who do not have certifications of higher institutions.
The ANAN or Association of National Accountants of Nigeria offers university or polytechnic degree holders a three-year training course. After your graduation, you become a Certified National Accountant.
The ACCA or Association of Chartered Certified Accountants is the largest and fastest-growing accounting body in the world. Their examinations are held four times in a year; March, June, September, and December. The exams under this institute are a total of 14 and you can write them in a maximum of 10 years. If you're an accounting degree holder, you will be exempted from 4 exams while ICAN ACCA graduates are exempted from 9 exams. For people who do not have a higher institution certification, you will need to train in Foundations in Accounting. After this, you qualify for the ACCA training.
The CIMA or Chartered Institute of Management Accountants is another respected accounting body. The professional body offers 12 examinations which you are to finish in 4 years.
The AAT or Association of Accounting Technicians is designed for secondary school certificate holders and accounting novices. The AAT qualifications are divided into 4 categories; each of them can be completed in 1 year.
The CMA or Certified Management Accountants is for mid-level accountants who want to further their professional accounting careers. The examination is to be completed in three years.
In Calabar, you can get your university degree in Accounting at the University of Calabar or at the Cross River University of Technology.
To qualify for direct entry accounting in the University of Calabar(UNICAL) and alternatively, the Cross River University of Technology (CRUTECH), you should have the following:
- Credit passes in five subjects including English, Mathematics, and Economics in your Senior Secondary School Certificate Examination (SSCE) or its equivalent in not more than two sittings.
- Additionally, applicants must have an Ordinary National Diploma (OND) in Accounting, Banking, and Finance, the University of Calabar Diploma in Business Administration, IJMB, or any alternative qualification that may be accepted by the Department.
- You have to obtain the cut-off marks required by each institution in your Post-JAMB examinations.
CRUTECH is created to focus on four areas specified by NUC which are:
- The theoretical and conceptual foundation of accounting.
- Tools and techniques of analysis
- Specialization of accounting skills
- Environmental and cultural sensitivity
Where to Study the Professional Courses in Calabar
After your degree programs, you may be interested in going for more professional courses. Also, secondary school certificate holders are advised to try out professional courses like the Association of Accounting Technicians and the Accounting Technician Scheme which is hosted by ICAN. These certifications qualify you for a 200 level direct entry into any Nigerian accredited institution.
You may be wondering whether it is possible to get professional training in Calabar. Yes, several professional accounting institutes have branches in Calabar where you can train as a certified chartered accountant.
If you're interested in studying professional accounting courses in Calabar, there are several places where you can begin your professional accounting career.
For ICAN accounting qualifications, you can go to the Management Development Institute, Mary Slessor Avenue in Calabar. You will be trained in professional courses in the ICAN standard way.
Would you like to take ANAN qualifications? Then. you can go to their branch in Calabar is at 53, Asim Ita Street, Ibom Layout, Calabar, Cross River State.
You can also register and study online or get online tutors to get you prepared for some professional examinations.
Finding The Right Accounting Tutor in Calabar
Accounting Tutors can be quite difficult to find and choosing the right one can be an excruciatingly stressful experience. It is easy to agree that good teaching reflects beautifully on the students. This is why after finding one, it makes all the difference.
Because of the level of professionalism needed to teach accounting, Superprof only has certified professional tutors. This means that you're assured of understanding accounting even for novices.
If you would like to train under one of Superprof's accounting tutors, click here.