- We all must overcome our fears of failure and rejection to be successful and achieve what we want.
- Hi, I am Xoliswa Hlongwane, a proud chartered accountant and entrepreneur.
- Here is my journey from being an average learner at school to qualifying as a CA (SA) to starting her own clothing manufacturing business while still working full time.
Back Story: Why I Decided to Become a Chartered Accountant
During primary schooling, I was an average learner who got just enough marks to progress to the next grade. I was too playful and didn’t focus much on my studies.
When I was younger, we moved around quite a lot. Growing up in different communities and cities made me streetwise and aware of the world out there, which was different from most of my schoolmates or even peers in the community.
Also, my dad, with whom I moved to the province to live, died at the beginning of the year. So I had to finish that year at school and then move to my relative’s place. Life was definitely not easy for me.
While studying in grade 12, I applied for tertiary studies. I remember ticking a box asking me whether I required financial aid. I knew that I needed financial aid. I had no idea that was one of the most important ticks I had ever made in my life, second only to voting:-).
Having seen the entrance requirements for the targeted universities, which were based in my province, I knew I had to work hard. Despite the difficulties, I gave it my all, and thanks to God, I did well in grade 12.
I went to the University of KwaZulu-Natal knowing only that I would be studying B.Com. accounting and nothing beyond that.
Luckily, the friends I made during my orientation week helped to shed some light on the various career opportunities. It was then that I got to know about CA from SAICA (the South African Institute of Chartered Accountants), and I chose the CA route.
And that’s how I started pursuing CA (SA).
Working and Studying Full-Time: My Quest to Become a CA (SA)
To become a CA in South Africa, SAICA has a standard path:
- You can study full time and obtain a B.Com. accounting degree or an equivalent CA (SA) undergraduate qualification at a SAICA-accredited university. Once you have completed your B.Com. accounting degree, you will be required to obtain an honours degree. Following that, you must complete three years of internship and pass two board exams to become a qualified chartered accountant.
- If you want to work part-time while pursuing a B.Com. Accounting degree, you will have to do five years of articles, upon which you must complete a B.Com. Accounting degree or equivalent CA (SA) undergraduate qualification, and then obtain your Honors degree (CTA). Post this and give two board exams to become a qualified CA (SA).
- If you study full time while pursuing a B.Com. accounting degree but study part time during your honors degree, you have to do four years of articles and give two board exams to become a qualified chartered accountant from SAICA.
- My CA journey was very clueless; I really moved with the flow. I did not even apply for any bursaries during my undergrad; instead, I relied on financial aid.
A bursary is financial study assistance offered by institutions towards a course of their choice; it usually comes with a condition of service after graduating. Financial aid is provided by the government for needy students, which is payable back to the government once the graduate is employed.
To become a Chartered Accountant with SAICA after graduation, you must complete post-graduate studies and obtain an honors degree. At the end of my third year of university, I realized I needed to find work because government financial aid did not cover my honors studies. So in order to save money for my post-graduation, I started working part-time at a medium-sized firm while pursuing my last year of a B.Com. in Accounting degree.
Normally, you start articles after post-graduation, but some firms, especially small ones, accept people with undergrad degrees to start articles and study post-grad part-time. That is what I did.
I wanted to be a star performer at work and neglected my studies during the year, hoping to catch up at the end of the year. I soon realized it doesn’t work like that.
Consistency is key to succeeding in part-time studies. This lack of focus resulted in me having to repeat my honors degree a couple of times. I only passed my honors after my CA articles.
When I think of it now, I don’t know how I did not give up. I am happy that it worked out, but it was difficult studying part-time while serving articles.
Articles gave me amazing work experience and taught me a couple of life lessons. I learned new skills and faced new challenges. It made me a mature professional.
My Advice to Future Accountants from SAICA
- If possible, finish all your studies full-time before starting your articles. That means completing all the qualification requirements on a full-time basis, only writing board exams during your articles, and not studying part-time as it is very difficult.
- Once you start working and you are still studying or writing exams, ensure consistency in your studies. Study the whole year, not only in preparation for exams or tests.
- Draw up a vision board of your future career and draw a connection to your current state. That will help you make choices that contribute to your vision.
- Once you’re established, start thinking about how you can expand and become an all-rounded professional.
- Once you qualify as a chartered accountant, you soon realise that the qualification only gives you a golden ticket and opens the door for you. Your motivation and aspirations will determine how you use it and which subsequent doors you enter.
- Identify what elements make you the professional you are and serve them all.
- Give back, contribute to your country’s social needs, spend time with family, and discover yourself. Do it all.
Starting my own business while still working full-time
I started the XO Collection in March 2017. I never knew I would start a business; it all happened, and I just followed my gut.
When I decided to start my own business, I was still working as a Chief Audit Executive. I wanted to go ahead with my business idea without quitting my job. It wasn’t easy, but I had to make it work. I had my own share of struggles when I decided to work full-time and start my own self-funded business.
This journey has been tough but very fulfilling. Through my clothing manufacturing business, XO Collection, I seek to contribute towards reducing unemployment.
