Tag Archive for: Finance

Heard about Recognition of Prior Learning (RPL) and or Exemptions and don’t exactly know what that means? Or wonder if you qualify? Let’s dive in and give an easy explanation.

Definition:

The term “recognition of prior learning” should be understood as a process, undertaken by qualified personnel, of identifying, documenting, assessing and certifying a person’s competencies, acquired through formal, non-formal or informal learning, based on established qualification standards.

 

What is Recognition of Prior Learning (RPL) – an easy explanation:

This is a process that allows individuals to gain formal recognition for skills and knowledge they have acquired through work experience, informal learning, or other non-formal means. In education and training, RPL is a way to acknowledge and credit a person’s existing skills and knowledge.

 

This short video explains it well.

 

Now you might wonder what is Credits and how do they work?  Check this blog article out to explain

What industries can people normally qualify for an RPL?

Why would you be interested in RPL?

 

RPL is an amazing way to take all the previous learning you have achieved, either by credits of past (but incomplete studies) to take your Credits into consideration and/or your previous but relevant work experience into the equation and as such give you the much needed Qualification and Certificate. This could be the difference of the dream job or the much wanted job promotion. This qualification could then also assist you with articulation paths for further studies i.e Advanced Diploma or Degree options.

 

 

 

Sources:
https://www.ilo.org/skills/areas/work-based-learning/WCMS_672345/lang–en/index.htm#:~:text=The%20Recognition%20of%20Prior%20Learning,social%20inclusion%20and%20self%2Desteem.

 

What is RPL?

We encourage you to watch these short video’s to explain what RPL is:

 

 

What professions offer RPL?

Recognition of Prior Learning (RPL) is a flexible process that can be applicable across various professions and industries. While the extent to which RPL is accepted and implemented may vary, many sectors recognize the value of assessing individuals’ existing skills and knowledge. Here are several professions and industries where RPL is commonly offered:

1. Information Technology (IT):

    • Programming
    • Web Development
    • Cybersecurity
    • Network Administration

2. Healthcare:

    • Nursing
    • Allied Health Professions
    • Medical Coding
    • Healthcare Administration

3. Business and Management:

    • Project Management
    • Human Resources
    • Marketing
    • Entrepreneurship

4. Education:

    • Teaching
    • Educational Administration
    • Training and Development

5. Construction and Trades:

    • Carpentry
    • Plumbing
    • Electrical Work
    • Construction Management

6. Engineering:

    • Civil Engineering
    • Mechanical Engineering
    • Electrical Engineering

7. Finance:

    • Accounting
    • Financial Planning
    • Banking

8. Creative Arts:

    • Graphic Design
    • Photography
    • Music Production

9. Hospitality and Tourism:

    • Culinary Arts
    • Hotel Management
    • Event Planning

10. Social Work and Counseling:

    • Social Work
    • Counseling
    • Substance Abuse Counseling

11. Language and Communication:

    • Translation and Interpretation
    • Technical Writing
    • Communication Studies

12. Agriculture and Environmental Sciences:

    • Agriculture Management
    • Environmental Science

13. Emergency Services:

    • Paramedicine
    • Firefighting
    • Emergency Management

14. Transportation and Logistics:

    • Commercial Driving
    • Logistics Management

15. Legal Services:

    • Paralegal Studies
    • Legal Administration

16. Retail and Customer Service:

    • Retail Management
    • Customer Service Training

17. Manufacturing and Production:

    • Quality Control
    • Manufacturing Processes

18. Fitness and Wellness:

    • Personal Training
    • Fitness Instruction

19. Science and Research:

    • Laboratory Technology
    • Research Methodology

20. Public Administration:

    • Public Policy
    • Government Administration

It’s important to note that the availability and acceptance of RPL may vary by region and specific educational institutions or employers. Individuals interested in pursuing RPL should check with relevant accrediting bodies, educational institutions, or employers in their specific field to understand the processes and criteria for recognition in that context.

 

If you believe RPL is the way to go for you, reach out to us here.

 

 

 

 

A typical day for an accounting technician can vary depending on the specific job responsibilities and the organization they work for. However, here’s a general outline of what a day in the life of an accounting technician might look like:

  1. Reviewing Financial Documents:
    The day may begin by reviewing financial documents such as invoices, receipts, bank statements, and expense reports. The accounting technician ensures that the documents are complete, accurate, and comply with relevant accounting standards.
  2. Data Entry and Bookkeeping:
    The technician enters financial transactions into the accounting software or spreadsheets, updating the general ledger and subsidiary ledgers. This involves recording income, expenses, assets, and liabilities to maintain accurate financial
  3. Accounts Payable and Receivable:
    The technician may handle accounts payable tasks such as processing vendor invoices, verifying payment terms, and issuing payments. They may also assist with accounts receivable by preparing and sending invoices, monitoring customer payments, and following up on overdue accounts.
  4. Reconciliation:
    Regular reconciliation of bank accounts, credit card statements, and other financial accounts is crucial. The accounting technician compares the recorded transactions in the accounting system with the actual bank or statement balances to identify discrepancies and ensure accuracy.
  5. Financial Reporting:
    The technician may assist in preparing financial reports, including profit and loss statements, balance sheets, cash flow statements, and other management reports. They may compile and analyze financial data to generate insights for management or external stakeholders.
  6. Assisting with Audits:
    During audit periods, the accounting technician may support auditors by providing requested financial information, locating relevant documents, and ensuring that records are in order.
  7. Communication and Team Collaboration:
    Accounting technicians often work as part of a team, collaborating with accountants, bookkeepers, and other colleagues. They may communicate with vendors, clients, and internal stakeholders to resolve issues, clarify financial matters, or provide updates.
  8. Staying Updated:
    To maintain their professional expertise, accounting technicians may spend time researching changes in accounting regulations, tax laws, and industry best practices. They may also attend training sessions or workshops to enhance their skills.
    Refer here to see why you should join a professional body, what is CPD, and how to ensure you stay compliant as a tax practitioner in SA.
  9. Administrative Tasks:
    Alongside their core accounting responsibilities, accounting technicians may handle administrative tasks such as organizing files, maintaining documentation, and managing emails or correspondence related to financial

It’s important to note that the specific tasks and priorities can vary based on the industry, organization size, and the technician’s level of experience.

 

Inspiration:

https://credobusinesscollege.co.za/blog/a-day-in-the-life-of-a-technical-accountant/