All over the world, accounting has become a great phenomenon. Every thriving industry in the world has accountants to thank for their financial successes.
Historically, it has existed since time immemorial even in the African countries existing now. You can describe it as part of an innate human capability.
Accounting has evolved in a way where has created associations to help share and expand knowledge. They are generally called accounting associations. These institutes help by offering guidance and regulation updates to their members. Worried about how you'll learn Accounting? These associations also offer professional classes in financial accounting, auditing, managerial accounting, and tax accounting to anyone who seeks the knowledge and skills for a successful career path in accounting.
Would you like to gain new skills to make you more competitive in the job market? Do you want to increase your payroll from an entry-level accounting position to your boss's level? Or you have the entrepreneurial drive to start up your own business? But you need to know about cost accounting, budgeting, and bookkeeping? Are you tired of your current profession and would like to try an accounting career?
Then, learning principles of accounting from an accredited course will help you.
Can anyone be an accountant?
Of course, everyone can be accountants. All you just need to have is an eye for calculations, interests in learning accounting skills and accounting principles and going for accounting classes. You also don't need to be a maths genius to study accounting. Accounting software has helped made number crunching and bookkeeping a lot easier.
Accounting is designed for everyone. If you have an analytical mind, an entrepreneurial mind or can thrive well in financial organisations, this is your calling.
Everyone, even secondary school graduates and Job changers can be accountants. Some times, all you need is a great tutor who can help you understand accounting principles, some of your courses and prepare you for your professional exams.
Let's explore where in Nigeria you can study accounting and find the right tutors.
Choosing The Accounting Field
Accounting is a big industry. At the moment, there are the big four accounting firms, the professional bodies, and the little consulting startups.
The industry is big because everyone needs an accountant. For big firms, they will need an external auditor and still have their in-house managerial accountants as well. So with so many businesses in the country, you should expect twice as many accountants.
As an accountant, you have so much power. You're the one in charge of all the cash. All tax payments, collection of money, paying employees as well as keeping track of all cash transactions are in your hands. This is why accountants always need to be at their best; businesses need accurate financial statements, if not, they will be in trouble with external parties like the government.
For an external auditor, his/her role is to ensure that the internal accounting department does the necessary things. They proceed to advise on how to restructure or organize accounting and financial processes in companies and examine the financial statements the internal accountants have created to make sure everything is correct. You may be wondering why all of this is necessary; moneylenders and financial service providers need to be sure about a company's finances before associating with them
So, its a lot of responsibility that only accountants can do. And that's why accounting qualifications are so important and make up a big industry. One is, a lot of candidates know that it's a respectful job and a great way to make money. Also, all businesses need accountants. Furthermore, accounting courses and examinations can be extremely expensive; which is one of the reasons why people study properly before proceeding
Different Kinds Of Accounting Qualifications
With the vastness of the accounting qualification industry, it had led to a huge increase in different courses, qualifications and accrediting bodies each having their acronym: ACCA, ICAN, ANAN, AAT, etc. These are the names you will be adding after you have successfully bagged a certificate. While they all look like they can be exchanged, their course structures differ. It usually depends on the requirements of the accounting body that accredits them.
Let's take a look at some of them:
The Institute of Chartered Accountants of Nigeria or simply put ICAN is the association developed for chartered accountants in Nigeria. It is one of the most popular professional institutes in Nigeria; having branches and tuition centres everywhere in the country.
To qualify for their professional exams, you must have a university or polytechnic degree. If you don't have any of these, then you can take their Accountant Technician Scheme West Africa (ATSWA) exams. It will take you at least 18 months to bag a professional certification from ICAN.
The professional examinations just like almost all the associations are quite expensive. So, you want to make sure you're getting the right tutor(s) to help you understand certain complex accounting principles before you go for the exams.
The ACCA is an acronym for the Association of Chartered Certified Accountants. It is a global and well-respected qualification. Usually, the number of years varies on the courses you choose. You can get a certification in one-year while other examinations require that you complete them in a maximum of 10 years
The Chartered Institute for Management Accountants or the CIMA follows a similar structure as the ACCA. However, as the name suggests, the institute's focus is to train management accountants; the ones that work within companies. After four years of training and of course, getting a side job to gain experience, you can graduate with your certificate in hand.
The Association of National Accountants of Nigeria is another professional body in Nigeria. You're expected to have attended the Nigerian College of Accountancy in Jos for one year before you proceed to do a three-year training. You will also do an Accountant in Training program for two years where you will work as an accountant in a company. Having this certificate guarantees that you're now a public accountant
The AAT is an acronym for the Association of Accounting Technicians. Here, you will learn a lot more foundational accounting courses. For example, they are the ones you have to study before qualifying to take courses accredited by one of the above.
The first step to beginning an accountancy career is to learn the basics before gaining your professional experience. The AAT can help with that and additionally, you can use this certification to start a direct entry accounting degree in any university of your choice.
Accounting Courses in Lagos
To study accounting in the centre of excellence, you need to be ready to put your best foot forward. This is where major commercial activities are happening and with so many companies, accountants are needed.
If you're planning on changing your career to accounting, you're bringing yourself into a field with so many opportunities in terms of professional advancement, salary, and prestige.
One of your first steps as a new candidate in the accounting field is to get yourself familiar with the accounting skills and principles. The AAT or Association of Accounting Technicians can help you with that.
Ignore the misconceptions about accountants. Wouldn't you agree that it's quite weird to be in Lagos and be socially dull? This is the same for accountants. Asides from the fact that your job may demand you signing business deals at night clubs, accountants also have a social life. They do not live for number crunching either; accountants are experts at detecting patterns in the financial world. They are very analytical and plan carefully, but because the job demands a lot of action after all these scrutinies, they take risks.
Accounting is probably one of the professions that involve risk-taking. You can tell, as well, that when money is involved in whatever transaction, you have to be careful, smart and be prepared for the risks you have taken.
You should expect that since Lagos is the centre for commercial activities in Nigeria, you will get access to a lot of professional bodies. Whether you have made up your mind about being a managerial accountant, tax accountant or forensic accountant, the institutes in Lagos can help make this dream a reality. Getting your work experience and qualifications right can also make you confident enough to apply for work under one of the big four companies that have their branches in Lagos.
So if you're the analytical person and loves the idea of calculations, check out the tips on accounting courses in Lagos.
Studying Accounting In Enugu
Lagos isn't the only place that offers professional accounting courses. Enugu also offers classes to entry-level accountants, mid-level accountants, and beginners.
The Eastern part of Nigeria is known to have people who value businesses a lot. Therefore, you will be handling a lot of money while you're there. You will also get to meet a lot of serious-minded business-oriented people. This is probably why Enugu is thriving and may even be on its way to becoming a place for technological inventions in Nigeria.
If you have a certification as a public accountant in Enugu, for instance, you may be assigned to manage assets of wealthy businessmen.
You can also be called to work for the government. Technically, the more actions people take to start a thriving business, the rarer you become.
There are several places where you can learn Accounting. If you would rather go the traditional route, Enugu has a federal and state university. They are the University of Nigeria and Enugu State University of Science and Technology. There you will learn in detail all you need to know about accounting. For Polytechnic interests, OSISAT Polytechnic Enugu will offer you practical training on different accounting courses.
If you already have a university degree, then you qualify to write exams under most of the professional bodies listed above. You even get certain exemptions from some exams as well.
Places To Study Accounting In Calabar
If you would like to study accounting in Calabar, you can choose to study at the University of Calabar or Cross River University of Technology. These universities will offer you the right accounting degree to make you more competitive in the job market. You may be taught courses that approach specific sides of accounting, like financial reporting or accounting practices.
Universities and Polytechnics are usually the most common ways to get an accounting degree. Some people whose jobs are unsatisfying and are looking for new and exciting professions choose Accounting; a lot of these people do not have the time to go to university for an accounting degree. In this case, an accounting certificate from AAT or ICAN ATSWA training centres will certainly boost your chances of getting a better job somewhere else.
If you're already prepared to major in accounting in any university in Calabar, it means you're on your way to having a successful career in accounting.
Again, never mind about being a mathematical genius. If you're interested in accounting, you just have to meet the educational requirements for the university or polytechnic you have opted for.
After this begins your journey - you may choose international accounting, forensic accounting or even step into an accounting management position for a global firm.
Remember that Superprof is here for you and can help you with tutors and tips to make your accounting journey smoother. So, if it is helping you get that WAEC result or understanding that accounting course, you've surely come to the right place.
Accounting Classes In Portharcourt
Have this in mind: Accountants differ even if they have the same generic ''accountant'' title. So before you choose the type of accountant you will like to be, here are the existing specialities:
- Forensic accounting involves reviewing financial records for fraud and the possibility of a lawsuit.
- Auditing, which consists of checking a company's books for accurate financial records. Unlike external auditors, internal auditors work exclusively for a company.
- Financial accountants are in charge of the management of the general ledger and trial balance. They also help prepare financial reports which will be published externally to, for instance, tax authorities and shareholders.
- A CPA or certified public accountant can multitask in all of the accounting roles. Additionally, they can even start their own business, freelance, or manage assets for small businesses and individuals.
- A chartered public accountant can also function in any of these accounting specialties. However, they work in the office with other accountants.
- Tax accounting requires that you're up-to-date with the latest news on tax laws because you will be using your knowledge to help companies and individuals prepare for tax time.
- Managerial accountants work in a company's accounting department. They are the ones who help executives plan and effectively utilize the organization's profit margins.
Have you decided which role you would like to fill in the accounting and business world? Unless you have already gained admission to an undergraduate degree program at, for instance, the University of Port Harcourt (you may get advice or mentorship on deciding a speciality), you should look elsewhere.
The AAT - the Association for Accounting Technicians is a great place to get your guidance. Their courses are designed to prepare future accountants for the business world. Technically, if you see yourself as a leading team of management accounting professionals or accounting clerk, AAT will prepare you for your new accounting career.
If you would rather look out for ANAN - Association of National Accountants of Nigeria, check out the plenty of the learning opportunities for accounting in Port Harcourt or choose an online accounting class.
Accounting Courses In Abuja
Indeed, not everyone has the means or opportunity to take the traditional route (University or Polytechnic) in getting an accounting degree. This is why some institutes have offered pre-degree training that will help you begin your accounting journey.
Since Abuja is home to many governmental parastatals, embassies amongst others, your decision to be an accountant here is a great one. If you do not have the opportunity to learn accounting principles in a university or polytechnic, ICAN offers Accounting Technician Scheme (ATS) that will teach you the foundational accounting courses.
Similar to this is the AAT which has been mentioned before. Each of their courses usually lasts one year. Additionally, these certifications will qualify you for direct entry into the university; that is if you're still interested. However, in the absence of that, your certifications can qualify you for advanced professional examinations.
Find the Right Tutor In Nigeria
Not everyone can afford the expensive prices some institutes are requesting. However, you can still confidently sit for some exams if you have been guided in the right way.
Everyone can brag about having the right qualifications, but not as much people trust if they have the right tutoring powers.
Not everyone who has an accounting degree or a professional certification can be a tutor. This is why Superprof makes sure that people who would like to get accounting tutors from them check out their capabilities. You will see student reviews along with the certifications each tutor has obtained. Additionally, your first class is free!
For your flexibility, you can also choose whether you would like to learn at an agreed-upon place, your house, or online.
While some accounting courses may be tough, choosing the right tutor can make a difference. From helping you get better grades to sitting for professional examinations, Superprof has got you! So why don't you check out the tutors available in your area and begin your journey into a successful accounting career path!