Professional Development

Knowledge of Fasset and Skills Development

Fasset is the Finance and Accounting Services Sector Education and Training Authority. The finance and accounting services sector is particularly important because it is the largest employer of people with financial management, accounting, and auditing skills. In 2012 more than 135 000 people worked in the sector.

The definition of this sector differs in the different data sources available, as well as in different environments. In the national accounts and in employment surveys conducted by Statistics South Africa (such as the Labour Force Survey (LFS)) the sector includes real estate activities and an array of other business services such as labour brokerages, information technology services, legal services, and engineering and architectural services.

The Financial and Accounting Services Sector refers to the organisations served by Fasset. This sector includes: investment entities and trusts and company secretary services; stock broking and financial markets; financial development organisations; accounting, bookkeeping, auditing and tax services; business and management consulting services; the South African Revenue Service; the national and provincial treasuries; and other activities auxiliary to financial intermediation, such as debt collection.

The Work of SETAs

  • Determine the vision and mission of the Seta
  • Develop and adapt the sector’s skill strategy
  • Set strategic targets in line with national policies and priorities, national sectoral priorities and sub-sectoral or chamber priorities
  • Enter signed agreements on targets for delivery with chambers or sub-sectors
  • Monitor and evaluate the implementation of strategies and the achievement of targets
  • Assume accountability in terms of the Skills Development Act, the Skills Development Levies Act, Public Finance Management Act and the SAQA Act
  • Quality assure education and training providers via an Education and Training Quality Assurance body
  • Be responsible for Learnerships

Relevant Legislation

Purpose of the Skills Development Act

The short supply of skilled staff is a serious obstacle to the competitiveness of industry in South Africa. The levy grant scheme aims to expand the knowledge and competencies of the labour force resulting in improvements in employability and productivity. This is achieved through new approaches to planning for training, learning programmes, incentives and an improved employment service. If you participate fully in the scheme you will reap the benefits of a better skilled and more productive workforce.

 

Source: http://www.patc.co.za/

Study in your own time with Accounting & VAT Video CDs – SPECIAL OFFER

Basic Accounting Video Course

The Basic Accounting to Trial Balance Video CD Disc Course, will help you understand how your books of account are constructed from source entry to trial balance,

You will be able to recognize and understand the accounting entries that originate within your own business, enabling a more controlled environment within which your business can operate in.

Additionally, you will be introduced to the accountant and bookkeepers jargon, enabling you to understand the language of business.

This Video is designed for entrepreneurs, financial and bookkeeping staff who wish to gain a basic understanding of how the books of account are designed and integrate into business, leading ultimately into the Financial Statements.

During the video, the following Topics are covered: 

  • Basic Bookkeeping and Accounting Terminology
  • Why you need Bookkeeping
  • Accounting Cycle
  • Source Documents, Books of First Entry
  • Chart Of Accounts
  • Audit Trails
  • Trial Balance
  • Reconciliations
  • Month/Year End Close of Process
  • Annual Financial Statements (AFS)

VAT Administration Video Course
The VAT Administration Process Video CD Disc is designed for individuals, staff and financial management that are required to calculate and submit VAT returns for a business, and have no or very little understanding/knowledge of how VAT really works.
During the video, the following Topics are covered:
  • Registrations – Supporting Documents and Forms to fill in
  • VAT Categories
  • How to fill in the VAT201 form
  • Invoices – what are they supposed to look like?
  • E-Invoices – how am I supposed to store them?
  • Connected Persons
  • Accrual Basis / Invoice Basis compared to Payment Basis
  • The 10-Day Rule
  • Exceptions to the general time and value of supply

Financial Statements Video Course

This comprehensive e-learning Video CD Disc is designed to show the entrepreneur, managers, professionals, bookkeepers and other uses of financial statements, how to read and use key data from the financial statements, to understand profitability and cash flow of a business.

The course teaches the three main statements, Income Statement, Statement of Financial Position and Cash Flow Statement, to manage the cash flow cycle from purchases to banking the cash.

During the video, the following Topics are covered:
  • Easy to follow Video Presented Modules by an experienced practising Accountant
  • Comprehensive Downloadable Notes for each Module
  • Online Self-tests and Assignments
  • Technical Support for all online Access Queries
  • Email Support for all Content Queries from a professional accountant

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Delivery Cost Included
On completion of course, CPD points certificate issued

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ACCA Special for ICBA Members and ICB Students

Great news for any ICB or ICBA learner who has successfully completed an ICB NQF6 of the Financial Accounting stream. You’re eligible for a discount towards an ACCA Qualification.

 

Who is eligible?

Any ICB or ICBA learner who has successfully completed an ICB NQF6 of the Financial Accounting stream.

 

What is the offer?

Each learner can obtain a maximum of 6 exemptions for subjects registered with ACCA

Registration £40
Exemption £30 per exemption

 

Who is ACCA?

ACCA is the world’s largest leading body for professional accountants, with over 110 years of experience, innovation and excellence. ICB graduates holding the National Diploma: Financial Accounting NQF 6 qualification can study further through ACCA. You will receive up to 6 exemptions to further your studies towards becoming a Chartered Certified Accountant with ACCA.  See www.accaglobal.com.

 

ACCA is an international body which give you and international accreditation due to the fact that ACCA recognises ICB’s qualification.

 

Offer Valid from 1 July 2019 to 31 March 2020

All applications to be completed here –https://www.accaglobal.com/acca-registration-intro.html

Please insert the code IB7 when you get to the Registration code section

A Guide: How to Earn CPD Points with ICBA

Let’s get straight to the point. Continuing Professional Development (CPD) is one of the most important components of a successful finance career today. Gone are the days of the once – off qualification. The accounting industry is rapidly evolving and advancing and so are its systems- new workflow structures, cloud computing, cybersecurity! Not to mention the possibility of future robo- accountants! Keeping your knowledge current and up- to- date in this transformative landscape is not only beneficial, it is imperative.

So what is CPD? CPD refers to the practice of tracking and documenting the skills, knowledge and experience you gain both formally and informally as you work, beyond any initial training. And it is a requirement of ICBA membership.

With this in mind, here is a guide to earning those all – important CPD points. Don’t worry- it’s super easy!

  1. Attend Events

 Leave the corner cubicle and get out of the office! Attending informative workshops, seminars and conferences is a great way to earn CPD points, network with industry leaders and stay abreast of current accounting developments. The ICBA has a full line up of events plotted on our calendars every month, ranging in topics from compliance and legislation to payroll and business tax. These events run nationwide. Get out your diaries and pencil in some events close to you, or choose your favourites- some of them are even discounted for ICBA members. Light-bulb moments ahead!

  1. Watch Webinars

 Think webinars are just for IT geeks? Think again! Career advancement is just a click a way. Webinars are one of the easiest ways to earn CPD points from the comfort of your own home or office – all you need is a WIFI connection and a calendar invite. Dates are communicated via our Facebook page or alternatively, you can view our events calendar on our website. PLUS! ICBA Webinars are free for members. Next time you see that calendar reminder- don’t be too quick to dismiss it!

  1. Self -Study to Success

 Knowledge is power and self – study is your ticket! Reading relevant, interesting articles and professional journals in your own time is acutely beneficial and can all tally up in the end. Resources can be found in our website News section or on a multitude of accounting and bookkeeping specific websites. Even reading the ICBA newsletter counts as 0,5 CPD points. The newsletter is jam packed with informative content for you to enjoy. To subscribe to this newsletter, please email the ICBA with your ICBA reference number. Happy Studying!

Done and dusted. See- earning CPD points isn’t difficult and can be fun! Want to learn more about earning CPD points? Visit https://www.icba.org.za/cpd/  or contact us at https://www.icba.org.za/contact-us/

 

Please Note!
ICBA members must use the ICBA’s CPD Tracking Form to record their learning. You will need to show this to the ICBA when you apply to renew your membership. Furthermore, please note you earn 1 CPD point for each hour of learning you complete and Members must earn at least 20 CPD points every year.

 

SA Accounting Academy and Continuing Professional Development (CPD)

SA Accounting Academy (SAAA) Overview

The SA Accounting Academy (SAAA) offers Continuing Professional Development (CPD) training for accountants, auditors, bookkeepers, company secretaries and tax practitioners. They offer a range of live seminars and conferences and online webinars, seminar recordings, certificate courses and DVDs on both technical and business-related topics.

Continuing Professional Development (CPD) is important because it ensures you continue to be competent and compliant in your profession. CPD assists you to safeguard the public, the employer and yourself, the professional. This enhances your ability to provide high-quality services to clients, employers, and other stakeholders.

The importance of CPD should not be underestimated as it is a career-long obligation for practicing professionals to stay current and compliant.

SAAA is recognized for CPD hours by the ICBA and other relevant professional bodies whilst being complaint with IFAC requirements relevant to ICBA.

It has offered CPD programmes to the professional accounting sector for more than 7 years to more than 12,000 accountancy professionals.

SAAA’s detailed knowledge of the culture, style, and bookkeeping and accountancy needs of the sector, assists it to offer relevant CPD services, especially ICBA members.

Based in Fourways Gauteng, but operating nationally, SAAA has the operational capacity to design, create and manage the rollout and delivery of all the CPD offerings to ICBA members, specific to their needs. This capacity includes back-office support, relationship management, IT infrastructure, securing professional contributors, material and video production, event planning and organization, marketing and social media management.

SA Accounting Academy is proud to be associated with ICBA.

https://accountingacademy.co.za/cpd