How do I become an accountant in Ghana?

A career as an accountant is one of the few jobs that allow you to serve across different sectors and industries. Accounting is a process of analyzing, recording, and understanding financial transactions concern with one’s business.

It is one of the core interests in business management. Accountants are taught how to analyze and examine financial reports. It is one of the key functions of any business, regardless of its size.

An accountant or a bookkeeper is quite enough to handle accounting at a small firm. Whereas at big firms, a sizable finance department with dozens of employees is required to handle the accounting process.
For Ghanaians, the foundation for a a career in Accounting
is set in High School. However, if one has a strong knowledge and background in business, you will be advantageous.

After completing high school, an aspiring accountant can either study for a degree or go directly for a professional certificate.

However, one needs to make as an Accountant if they do not have a business background. Many from non-business backgrounds have become accountants by studying accounting in the university.

In Ghana, to practice or serve as an accountant, a professional certificate or a degree in accounting is required.

An advanced career in Accounting often requires professional certification. Options in Ghana include the Association of Chartered Certified Accountants (ACCA Ghana
), the Institute of Chartered Accountants – Ghana (ICAG), and the Chartered Institute of Management Accountants (CIMA).

Types of Accounting

1- Financial accounting: It includes collecting financial data, analysis and finding variances, studying financial trends, data summary, and preparation of monthly, quarterly and annual statements of the company. However, financial accounting is not just strictly limited to the abovementioned points; it varies from company to company.

2- Managerial accounting: It is almost the same as financial accounting. However, in managerial accounting, the statement produced by managerial accountants are only used for internal works. And the statements are generated much more frequently.

3- Tax accounting: As the name suggests, tax accounting is all about managing the income tax amount that the company must pay.

4- Cost accounting: Cost accounting involves all the costs related to the goods produced by the company, including the cost of raw material and the final products, to analyze and make decisions regarding spending and pricing.

5- Credit accounting: Credit accountants are responsible for managing and analyzing a company’s unpaid bills. It is very sensitive work because it involves dealing with the company’s unpaid bills and debt, which is quite sensitive but necessary.

Skills required to be an Accountant

Numerical Proficiency: To be an Accountant, one must know their way around numbers. It is one of the basic and foremost skills required to be an Accountant.

Detail-Oriented: In general, we humans avoid going in-depth but rather deal with things in approximation. An accountant must be detail-oriented; accuracy is the key point.

Computer skills: Most accounting process is done via a computer.

Patience: One must have the patience to see right through their project.

What are the Basic Qualifications required to be an Accountant?

A minimum of an HND (higher national diploma) in Accounting
Accounting practices and principles
Mastery of QuickBooks
Sufficient knowledge of accounting standards and government of Ghana tax laws and regulations
Good administrative and organizational skills; record-keeping and filing systems.
A strong command of Microsoft Office Word, Excel, QuickBooks, and other relevant Accounting software.

Requirements to study accounting in Ghana
There are certain targets that one needs to fulfil before getting themself to pursue accounting in Ghana.

Applicants are expected to have at least a credit pass in three (3) core subjects: English Language, Mathematics, Integrated Science and/or Social Studies, and three (3) elective subjects in the following groups; Business, General Arts and General Science.

Applicants with A’ Level are expected to have five credits at the O’ Level, including English Language and Mathematics, plus three (3) A’ Level or equivalent passes in General Arts, Business, and General Science.

HND applicants with Second Class (Lower Division) and above must, in addition, have credits at WASSCE/SSSCE in three (3) core subjects and three (3) electives
or five (5) credits at O’ level, including English language and mathematics. Applicants with HND are placed in either level 200 or 300 after passing an entrance examination/interview.

Here are some of the common questions asked in an Interview for an Accounting position

- Why did you apply to this company?
Well, certainly this question isn’t just limited to accounting interview, but it is one of the common questions asked when you apply for any kind of job.
You should have prior knowledge related to the company and your very own reason why you are applying for that certain company.

- Discuss the most challenging task you have ever faced as an accountant.
It is asked to access your past work experience and your ability to solve problems.
Suppose you have previously worked as an accountant. In that case, you may talk about the most challenging situation you ever faced or if you are a fresher, talk about some of the most difficult situations you faced during your internship.

- What are your strengths and weaknesses?
This is to know how much you know about yourself, your weakness, strength, or the things you are good at, or the things where you lag. Remember, honesty is the best policy, don’t ever try to flex before the interviewer, be honest and rational.