Financial Management Career Guide

What is the Financial Management course all about?

Financial management deals with the efficient and effective management of money (funds) to accomplish the objectives of an organisation. Through case studies, lectures, videos, readings and exams, students learn the basic concepts and how to apply them in financial decision making.

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What are the duties and tasks performed in the Financial Management industry?

  • Prepare, examine, and analyse accounting records, financial statements, and other financial reports.
  • Compute taxes owed and prepare tax returns, ensuring compliance with payment, reporting and other tax requirements including VAT returns and PAYE submissions.
  • Analyse business operations, trends, costs, revenues, financial commitments, and obligations, to project future revenues and expenses or to provide advice.
  • Processing of transactions using a computerised Accounting package, eg. Pastel Accounting.

What skills and abilities are required for a career in Financial Management?

  • Need to be detail-oriented (allows you to find errors and detect fraud);
  • Excellent Analytical skills (ability to visualise and solve complicated problems and make an accurate and informed decision);
  • Good Communication skills (the ability to communicate findings about financial statements with subordinates, and superiors through the use of business writing formats such as letters, memos and reports);
  • Time Management and good teamwork (Must be able to manage their own time and the time of others effectively);
  • Basic Computer skills such as word processing, spread sheet and database software to produce and record information.

What are the working conditions in the Financial Management industry?

Most accountants and auditors work in offices, although some work from home. Auditors may travel to their clients' places of business. Accountants generally work 40 hours per week. Longer hours are typical at certain times of the year, such as at the end of the budget year or during tax season.

What are the minimum entry requirements to study Financial Management at a TVET College?

At a TVET College, the normal entrance requirements for the Financial Management course are:

  • NC(V) Programme:

A Grade 9 Certificate + college requirements set per programme.

  • NATED Programme:

N4 admission - Grade 12 with a pass in Accounting + college requirements set per programme OR an NC(V) Level 4 Certificate in Finance, Economics and Accounting.

What should I do to study Financial Management?

  • Visit or contact a TVET College nearest to you to enquire about the entrance requirements for the Financial Management course;
  • Visit Financial Management companies to gain more knowledge about the field and what it entails;
  • Contact DHET Career Development Services to provide you with free quality career information, advice and counselling services on 086 999 0123 or e-mail:careerhelp@dhet.gov.za
  • Go for an aptitude test to help understand if a career in Financial Management is for you;

Attend Career Exhibitions in your area to liaise with higher learning institutions and obtain application forms.

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