Accountants play a major role in managing businesses by providing accurate financial information through the preparation, analysis, and interpretation of financial statements, so it’s easy to see why accounting is an essential part of any business, and why accountants are highly sought after.
In this blog we discuss factors that influence the earning potential of accounting science graduates in South Africa, as well as salaries at entry and experienced job candidate level, and average income. We’ll also look at what you need to be eligible to join a Bachelor of Accounting Science (BCompt) programme, as well as the types of financial statements and reports prepared by its graduates.
IN THIS ARTICLE:
- What is a Bachelor in Accounting Science?
- Accounting science requirements
- The role of a Bachelor of Accounting Science graduate in South Africa
- Accounting science jobs’ average pay
- Entry-level salary
- Salaries for experienced accounting science job candidates
- Factors influencing accounting science graduates’ earning potential
- Benefits of pursuing a Bachelor of Accounting Science
- The Bachelor of Accounting Science at Regenesys Business School
What is a Bachelor of Accounting Science?
The Bachelor of Accounting Science is a three-year undergraduate qualification designed to provide students with the skills required to become a professional accountant. This programme is offered by many universities in South Africa (Top Universities, 2023). It covers subjects such as accounting, auditing, taxation, business law, and financial management, among other subjects, providing the theoretical and practical knowledge graduates need to succeed in the field.
Accounting science requirements
The accounting science requirements are a Grade 12 aggregate of at least 75%, with passes in mathematics, English, and accounting. Some universities may also require you to take an aptitude test or participate in an interview prior to admission.
The role of a Bachelor of Accounting Science graduate in South Africa
The primary role of Bachelor of Accounting Science graduates in South Africa is to provide financial advice and guidance to businesses and individual clients. They are responsible for preparing and analysing financial statements and reports, developing financial strategies, and providing advice on tax, investments, and other financial matters. They may also be involved in auditing, budgeting, and forecasting. They play an important role in helping businesses achieve their objectives.
Accounting science jobs’ average pay
Accounting science jobs in South Africa pay an average of approximately R500,000 a year (BusinessTech, 2020). The amount may vary depending on the experience of the candidate and the organisation they work for. Note that the salary of a Bachelor of Accounting Science graduate usually increases with experience and further qualifications.
Entry-level salary
Most entry-level job candidates with a Bachelor of Accounting Science degree start off with a salary of about R300,000 a year (Talent.com, 2023). As with average income, the amount can vary depending on the employing organisation.
Salaries for experienced accounting science job candidates
Experienced accounting science job candidates earn approximately R700,000 a year (BusinessTech, 2020). And again, remuneration varies from organisation to organisation, and with the experience of the candidate.
Factors influencing accounting science graduates’ earning potential
The factors that influence the earning potential of accounting science graduates include the nature and depth of their experience, whether they have passed additional professional exams and which professional body adjudicated them, the size and nature of the organisation they work for, the industry they work in, the location of the employer, the type of financial statements and reports they are required to prepare, and the demand for their services (Shuttleworth, 2014).
Benefits of pursuing a Bachelor of Accounting Science
The Bachelor of Accounting Science programme equips graduates with the knowledge and skills required to succeed as accountants, and thus to earn a good salary with long-term job security.
The Bachelor of Accounting Science at Regenesys Business School
Regenesys Business School offers a comprehensive three-year Bachelor of Accounting Science programme that delivers the core topics of accounting, finance, taxation and management alongside modules such as business management, economics and ethics, which give context to the core subjects. The lecturers at Regenesys are professional trainers and academics who are passionate about human growth, and who take a holistic approach to building multiple intelligences. Their classes and assessments are structured to help students reach their true potential by developing the values, attitudes, and behaviour for success as they work on their core accounting skills.
Is the Bachelor of Accounting Science for you?
In summary, Bachelor of Accounting Science graduates in South Africa can look forward to earning a good salary and long-term job security. While new graduates enter the market at about R300,000 a year, experienced graduates fetch up to R700,000 – but these salaries vary depending on individuals’ experience, qualifications, they type of financial statements and reports they prepare, and the nature of the organisations they work for.
If you’d like to know more about Regenesys Business School’s comprehensive Bachelor of Accounting Science programme, you’ll find more information here.
References
- Top Universities. (2023). Courses Guides Accounting Degrees.
- BusinessTech. (2020). 22 banking and accounting jobs that pay over R1 million in South Africa.
- Talent.com. (2023). Accountant average salary in South Africa.
- Shuttleworth, C.C. (2014). The management accounting vocational fallacy. South African Journal of Economic and Management Sciences, 17(3), 336-348.
