“Accounting: The Language of Business Success”

From startups to multinational corporations, financial transparency is the bedrock of sustainable growth. Accountants, the language interpreters of this business world, play a pivotal role in ensuring financial accuracy, informing strategic decisions, and safeguarding a company’s future.

To gain insights into the dynamic world of accounting, we sat down with Nhyira Asante, a Chartered Accountant and investment analyst. Nhyira’s journey offers valuable perspectives on the challenges, rewards, and opportunities within the accounting profession. 

Once you’ve read her story, explore the range of free online accounting courses on Alison.com. These cover beginners interested in basic accounting to specific topics for experienced accountants who need to expand or refresh their knowledge. Sign up and enrol today!

Understanding the Accountant’s Role

Meet Nhyira Asante

Q: What drew you to the accounting field?

My mom always wanted to be an accountant but didn’t get to be one until later on in life, so she encouraged me to pursue it. When I saw the stars aligning in terms of academics, I gave it a full-hearted “go”.

Q: What does an accountant do, and what qualifications are needed?

An accountant essentially works at making sure the financial side of a business is kept in check by recording transactional information and then providing insight into what all the numbers mean.

I went to Wits University in Johannesburg (University of the Witwatersrand) and studied a Bachelor of Accounting Sciences as my undergrad and then a year of postgrad for my Certificate in the Theory of Accounting (CTA). As soon as CTA was done, I wrote my first Board exam which is a technical exam, and thereafter my second and final Board exam which is a more “practical” exam.

Q: Are there different types of accountants?

Yes, we can break it down by qualification. There are professional accountants, chartered accounts, chartered certified accountants, management accountants, etc. All have a similar focus on providing accurate financial information to assess a business’s performance and forecast future performance. Then there are the roles that accountants perform as well – they can be bookkeepers, financial managers, CFOs, investment analysts, entrepreneurs – any number of things.

Q: What skills and qualities are essential for success in accounting? Do accountants need to be good at math? 

Yes, otherwise people would sue us consistently and constantly. The key is to have a good handle on the organisation and pay attention to detail. The job is immensely challenging. You need to have the ability to persevere no matter the challenges. There is the usual stress of meeting near-term deadlines most efficiently and accurately.

Q: In what sectors can accountants work?

Luckily, we can work across many sectors – as long as there is a need for someone to understand financial information there will be a need for accountants. Accountant roles post qualification are so wide and varied – it enables you to do anything you would want to do.

Q: What are some misconceptions about being an accountant?

That we are boring, stingy pen-pushers that people should ignore.

A Day in the Life of an Accountant

Q: Describe a typical day in your role as an investment analyst.

My journey is a little different from a typical accountant’s – I work in an investment bank so my day-to-day involves covering admin and transactional points that may arise on one of the deals I handle. This includes preparing materials, taking notes, valuing companies etc.

Q: When you started on this journey, what were your vision and mission?

My vision was to help people with their businesses and financing so entrepreneurs would be able to execute their dreams and visions. My mission also slowly became about debunking the information barrier that exists between people who are well versed in how to work in a corporate, investing etc setting and those that don’t have access to that information.

Q: What daily habits contribute to your success? 

• Preparing for meetings
•  I try to take notes of everything I need to do, to help me keep track. (I’ve always heard that a short pencil is better than a long memory). 
• Motivating and challenging team members towards a greater common goal.
• I exercise integrity and try to be reliable which results in more trust in the system for a more conducive work environment. 

Q: What are the challenges of being an accountant?

The biggest sacrifice is an ongoing motif in my current role – my job is quite intense, and as a result, I’ve had to sacrifice quality time with family to cater to my job. In general, work-life balance is within reach however in my current role, it’s rare. Clients are easy to engage with generally, and it’s fun to win them over. They can also be quite slow in providing responses that you would need to action your own challenging work.I had quite the challenge in my post-grad year but managed to pass what is a dreaded year for most accounting students.

Q: What inspires you to keep going?

I want to build a more beautiful life for my parents – the idea that I will be able to make that happen day one day keeps me going.

Q: Do you have any apps or tools you use to stay organised?

I use Microsoft Outlook.

Q: What encouragement or advice can you give someone looking to become an accountant?

• Know your “why” – your purpose for pursuing this career. Once that is established and unlikely to change, you’ll be able to contextualise what you’re giving up getting your dream and decide whether it’s worth it or not.
• Always practise gratitude for any opportunity that is presented to you – it opens countless other doors and opportunities.

Q: What was the proudest moment in your career so far?

Qualifying as a chartered accountant.

Have you got what it takes to become an accountant?

Think you have what it takes to help companies keep accounts? Take our free online aptitude test to identify your strengths and weaknesses in numerical, verbal and abstract reasoning. You’ll receive course recommendations to get your accounting career started. You an also explore careers relating to accountancy in our comprehensive Career Guide. 

Simply register for a free account and discover how Alison’s free courses and resources can help you achieve your career goals!