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Monthly Archives: November 2010

Facebook Group: When I am big I want to be a CA

In my previous blogpost “50 things to do before you become a Chartered Accountant“, point 31 reads as follows “Join the facebook group when I am big I want to be a CA”. On this blogpost I bring you all the reason why you seriously need to consider joining this Facebook group. Sit back, relax and let your eyes browse through this piece.

Facebook Group: When I am big I want to be a CA

When I am big I want to be a CA:  Facebook group for aspiring Chartered Accountants (CA) by a Charted Accountant. This is wonderful group whereby an aspiring Chartered Accountant can spend his time on the group’s wall. By so doing an aspiring CA will learn all about the hip and happenings of the Accounting sector, what one needs to do in order to be a CA and lastly share their varsity and CA experience.

The founder of the group Paul Maughan is a qualified Chartered Accountant and an academic at the elite University of Cape Town. He post industry news, discussion forum and tips about the proffession. The group members engage in the conversation by asking questions, whereby Paul and other group members answer them. I like to believe that this is the biggest facebook group in South Africa for aspiring professionals.

According to Paul Maughan, the motivation behind the establishment of this facebook group is:

I am starting this group in my personal capacity because I am passionate about equipping the world with talented South Africans who know their stuff! I also think that the more the facebook generation sticks together, the more fun the whole CA experience can be. So please invite your friends if you feel the same.

The following are reason why an Aspiring Chartered Accountant should join this group.

  • Everyone in the group is a learner.
  • It is the most active facebook group, and the administrators engage with the group members as far as possible.
  • The group contain tips on how to choose a company to do a training contract with.
  • The administrators gives studying tips and other relevant tips.
  • The other group members post interesting questions, job opportunities and they also greet (Ubuntu right there).
  • It makes the whole CA experience a worthwhile journey.
  • There are inspiring stories to read about.
  • You learn more about the Chartered Accountancy profession, it’s pecks and benefit and what it means to be a CA in corporate South Africa.

Yes, C’mon, log on your facebook profile and join the group “When I am big I want to be a CA”, for you will be inspired and in no time you will hold the designation CA (SA).

The long term benefit of social networking sites is that they provide learning opportunities in an informal way.

Hahahaha! escape the job from hell, be a CA(SA). Be inspired and esCAlate…..

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Posted by on November 16, 2010 in Business

 

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Tomorrow’s Heavyweight: Shela Mahwibilia, an aspiring Chartered Accountant and a business leader

Shela Mahwibilia (R)

On Tomorrow’s heavyweight, Dumirocks get to chat with young people who might be gracing newspaper articles, business magazine covers and making influential decisions in business, politics and in life in the foreseeable  future.
More often than not, we see heavyweight from the commerce and  industry being interviewed by big media houses. We read about them, we get inspired, but unfortunately we quickly get expired when the reality hits that it is  gonna take some time to be heavyweights.

So, Dumirocks offer a platform for young leaders of tomorrow who are making a positive impact in their lives, and in the process better the society we live in, to also be interviewed in the same manner that those CEO’s are interviewed on moneyweb, BBQ, Radio and Television.

Shela Mahwibilia, a student on her penultimate year of studies at the University Of Cape Town, studies a BComm Financial Accounting (CA option) degree. This means that this young leader is an aspiring Chartered Accountant (CA), a designation that is well sought-after in business. Shela is a member of the Goldenkey Honours Society (GKHS), an only invitational society that honours academic excellence in Universities worldwide. Along with this achievement came an invitation to attend an International Scholar Laureate Programme (ISLP) delegation on business that was held in the United State of America.

Dumirocks get to converse with Shela about all her experience as a student, an ISLP delegate, her aspirations and ya what it means to be a student in a democratic South Africa.

Dumirocks (DH): How did you decide to study toward becoming a CA?

Shela Mahwibilia (SM): Companies and Universities normally came to our school for career guidance. One of the organisations, SAICA, unknown to me then, made their presentation about a career in Accountancy. They also mentioned that they have a bursary fund for equity students (Thuthuka). I got inspired and from that day on I said to myself that I am definitely following the profession.

DH: How does it feel to be a member of a prestigious academic society in the world and what benefits does it offer?

I feel very blessed, honoured and privileged. This has really opened doors for me. In addition it has created a platform where I can grow and see how my skills and talents can be advanced and used for the greater good of the majority.

DH: GKHS emphasis academic excellence, leadership and community service, what are you doing to live up these values?

With regards to academic excellence, I am constantly studying as I want to maintain my grades in order to qualify for an admission to honours programme on completion of my undergraduate degree. I am a front desk assistant, a mentor and a floor representative in my residence.  This is activities that I believe will hone my leadership skills. I am also a volunteer for the disability unit at UCT.

DH: What are the interesting things that your GKHS chapter at your university doing?

The GKHS chapter at my university has hosted a number of events, such as the new member ceremony, wine and cheese testing, to list but a few. In my chapter we are actively involved in community services, such a tutoring high school learners from disadvantage communities.

DH: According to When I am big I want to be a CA (facebook group) the administrator defines the 7-9 year journey towards becoming a CA as a CA experience, tell us about your CA experience thus far?

It has only been three years into this Journey.  Up to this point it has been a roller coaster ride, nonetheless I have enjoyed every moment of it. I believe the ride is yet to be rocky but I am up for the challenge.

DH: On completion of your studies, which company would you like to work for?

There are many interesting firms out there, however INVESTEC through its initiatives such as Women in Finance have grabbed my attention, I would really love to work for them.

DH: Do you read books other than academic, and if so what is your favourite book?

Accounting programme is quite a demanding course. I hardly find time to read books other than academically related materials, but there is one book that caught my attention that I was bound to go after, “dance with a poor man’s daughter”.

DH: who is your role model?

I have quite a few role models but these are the ones that stand out. My mother, Basetsana Kumalo and Dr Mamphela Ramphela.  The achievements of these people both in life and in business, keeps me going.

DH: ISLP delegation on business, tell us more about it?

This is a program that is exclusive to golden key members. One gets invited via a nomination. ISLP is a programme that gives an attendee the opportunity to see how the business sector is conducted in countries such as The USA. Prominent business people and politicians are invited to deliver inspiring speeches. Furthermore, issues that affect the global economy are discussed during a week long conference. Let me not forget friends I made. What a lifetime opportunity?

DH: Why did you choose the one hosted in America, and not Australia or China?

I initially wanted to attend the one hosted in China, but unfortunately the event coincided with my examination schedule. I had to attend the  one hosted In the United States.

DH: what are the lessons learnt in the conference?

Wow, I learned so much about America, their history, culture and lifestyle. We also had the opportunity to learn the history of some of the top Universities in the world, such as the University of Columbia, Los Angeles and California. I also learned a lot about other countries from my new friends which I met at the conference. Talk about Cross cultural differences!

DH: and lastly, what are the 3 things you can’t live without?

My God, Food  and People.

 
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Posted by on November 15, 2010 in Leadership

 

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Thuthuka Bursary Fund: Helping you realise your Dream of becoming a CA(SA)

The Matric exams are underway , you are confused as hell as to what you want to do the following year. Don’t you think that pursuing a career as Chartered Accountant can be a solution?  If you are a person of colour, financially needy and academically gifted, Thuthuka Bursary Fund can help you fund your studies to help you qualify as CA(SA).

Targeted at boosting the numbers of black CAs(SA), Thuthuka is a holistic programme designed to nurture promising black students from high school, through university and, ultimately, to prepare them for their qualifying examinations towards becoming CAs(SA). (GradX,2010).

On the 19th of January 2010, Morning live presenter Vuyo Mbuli, hosted Thuthuka Project Director Nthato Selebi and Thuthuka bursar, Tokologo Makofane to talk about the Thuthuka bursary initiative. Click here to watch the video.

For more information about being a Chartered Accountant, click here to visit  SAICA’s website.

Chartered Accountancy is a noble profession in South Africa,and well sought-after designation in the world.

Source: SAICA, GradX

 
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Posted by on November 13, 2010 in Business

 

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Currency war: What is it and what are the crippling effect, thereof?

The South African Currency (R)

According to wikipedia, Currency war, also known as competitive devaluation, is a condition in international affairs where countries compete against each other to achieve a relatively low exchange rate for their home currency, so as to help their domestic industry.

Ahead of G20 conference that will be hosted in the Republic of Korea, it seems that the leading agenda will be about the currency war, the state emerging markets and the stimulus packages by central banks of major economies. We have seen how Central Banks of the various countries in this world announce their stimulus package, the popular one being Ben. S. Bernanke announcing that he will purchase up to $600 Billion Dollars of the US treasuries within the next eight months.  Economist from different parts of the world argues that Bernanke’s move can have a crippling effect on the emerging markets.

The outbreak of currency war in 2010 has not been warmly welcomed by many head of state. The president of South Africa Mr Jacob Zuma, commenting on the matter said “Leaders around the world must act to prevent the recent round of currency devaluations from turning into a global currency war. We must collectively find an effective solution in the short term.” (Timeslive,2010).  It seems that the president is late in his warning because the currency war has already started.

The following are the crippling effect of currency war:

  • It can lead to a reduction in citizen’s material standard of living.
  • It can push up inflation.
  • A strong currency is sometimes seen as a mark of prestige while devaluation is sometimes seen as a sign of a weak government.
  • For countries such as South Africa, An escalating currency war could make exchange rates highly volatile, sparking protectionism and reducing global trade flows.

The truth of the matter is that the developed economies are pursuing economic policies such as buying bonds as a measure to heal their ailing economies. Sadly, they do that at the expense of the emerging markets.

The so called currency war is as a result of  the effort to keep countries going, where each country tries to become competitive on the basis of the competitive currencies.

According to the South African Finance Minister Pravin Gordhan, currency war will lead to what he referred to as the trade war.

Currency war, the strength of the currency of the emerging markets and  the fight against economic crisis are new interesting topics for economics majors, and those students who will be writing mini thesis in the coming academic year.

Let’s hope that the current G20 meeting will yield positive results. Will the global economy be healed? That is an agenda which must be looked at by global Finance Ministers, Head of State and the Cental Bank governors.

Source: Fin24.com, Sunday Times, and Wikepedia.

 
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Posted by on November 11, 2010 in Economics

 

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