MD of Sage Pastel Reflects on the Bright Future of SA's Accountants
December 16, 2013 Business News(PRLEAP.COM) Johannesburg, South Africa – The South African Institute of Chartered Accountants (SAICA) announced that Praise Ndebele, a learner from Ponelopele Oracle Secondary School, is the 2013 winner of the National SAICA Pastel Accounting Olympiad having scored a 92% mark. There were four runners up, each of whom achieved a score of 88%.
This year's Accounting Olympiad attracted 4 465 grade 11 and 12 learners from 338 schools across the country. "Every year I'm heartened by the fact that the number of entrants virtually doubles. Accounting is a profession that sets a very high standard and the Olympiad is tough, so I'm always impressed at the next generation of accountants who have the ambition to go for it", says MD Steven Cohen.
When Sage Pastel started the Olympiad with SAICA it was a small regional competition and it is now a national competition held in English and Afrikaans. "We're certainly meeting our objectives of encouraging an interest in accounting as a school subject and recognising young accounting talent", reflects Cohen.
There are so many reasons for youngsters to be attracted to accounting. Businesses small and large, government departments, institutions… They all need accurate financial information to grow and prosper. Accountancy is an essential process so an accountant will always have a job.
Accountancy is well-paid. See the young professional in the sharp suit with the expensive car? He or she is more likely to be an accountant than a doctor or a lawyer. CAs earn an average of 30% to 40% more than other professionals, and 26% more at entry level.
But this financial success doesn't just apply to individuals. SAICA reports that among the top 40 companies listed on the JSE, those with CEOs who are qualified CAs financially outperform those not headed by CAs. Accountancy is a solid foundation for any business role.
Not every CA remains an accountant. 25% of directors of the JSE's top 200 companies are CAs – in fact, more than 32% of all directorships in South Africa are held by CAs. One third of all South African CEOs are CAs and of the top 40 companies, 22% of their CEOs are CAs. Accountants inevitably rise to the top. By training and inclination, they are precise and set a high professional standard, so they are trusted with high levels of responsibility which inevitably translates into leadership positions.
"For those with an entrepreneurial disposition like me, the broad set of essential business skills you learn during your training will give you the tools and abilities you need to make a success of your own business", concludes Cohen. For those who choose to remain accountants, it's a fantastically flexible profession too.
It gets better: With South Africa consistently rated number one in the world by the World Economic Forum in terms of the strength of our auditing and reporting standards, South African CAs are recognised as members of a world-beating financial and business leadership team.
About Sage Pastel Accounting
Sage Pastel Accounting is South Africa's leading developer of accounting, payroll and business management software for the small, medium and large enterprise market. Since inception, Sage Pastel has developed an in-depth knowledge and understanding of the industry, establishing itself as a market leader and the preferred choice of South African business. The numbers speak for themselves as thousands of businesses use Sage Pastel Accounting to run their businesses and trust Sage Pastel to help them achieve their business ambitions.
Softline was founded in 1988 by Ivan Epstein, Alan Osrin and Steven Cohen. The company was established during the formative years of the business software industry in South Africa, and soon became the leader in the provision of business software and services to small and medium sized companies. In 2003 Softline was acquired by UK based company, The Sage Group plc. Softline officially changed to Sage in February 2013 to align with our parent company Sage Group plc. We continue to provide local expertise backed by the global Sage brand.
About The Sage Group plc
Sage Group plc is a leading global provider of business management software to small and medium sized companies, creating greater freedom for them to succeed. Sage understands how and why each business is unique. We provide products and services that suit varying needs, are a pleasure to use and are secure and efficient. Formed in 1981, Sage was floated on the London Stock Exchange in 1989 and entered the FTSE 100 in 1999. Sage has over six-million customers and more than 13,380 employees in 24 countries covering the UK and Ireland, mainland Europe, North America, South Africa, Australia, Asia and Brazil. For further information please visit www.sage.com.