The shortcut to becoming an accountant

The conventional route to becoming an accountant and eventually starting your own practice is well trodden and lengthy. We spoke to Dennis Kibungu, who has used SAIBA’s designations to take a shortcut and leap years ahead of his peers. 

Dennis Kibungu’s clients think he is in his thirties. He must be. His business, Venture Green, operates across multiple provinces providing accounting and other services. He has professional designations that accompany his name, and he has years of work experience. Kibungu is 24 and still studying – finishing his B.Com Accounting Honours at the University of the Free State.

Here’s how Dennis is running his business in between classes and writing exams and how you can do it too.

Step 1 – Make use of connections, holidays, and mentors

Kibungu’s siblings own the company Medtech Africorp, located in Centurion. He took them up on an offer to work in the accounting function of their company during university holidays. “I found out that accounting is actually nice in practice!”

At the company, he found a mentor in Siphethuxolo Didiza. Both Didiza and Kibungu are from Fort Beaufort in the Eastern Cape. Didiza gave Kibungu tasks that aligned with his level of study. 

“I had someone who said, I know you’re a first year accounting student, but I’m going to teach you based on your year. If you’re still a first year, I’m going to teach you basic bookkeeping,” recalls Kibungu. 

The work experience, in turn, helped contextualise Kibungu’s academic studies. “When you write tests, you go into the tests with a perspective in terms of how you apply concepts – you see things differently.” 

“I feel like if university students were given a practical component of working at a firm every six months, it would make life a bit easier.”

if university students were given a practical component of working at a firm every six months, it would make life a bit easier.”

Step 2 – Don’t wait to apply for designations

Like many, Kibungu’s goal is to become a chartered accountant. However, Didiza – who has a BAP(SA) designation, introduced Kibungu to SAIBA. “He told me, ‘No man, don’t wait until you get a Saica designation, go do this thing. You’ve got the qualifications and experience, go do it,” says Kibungu. “Most people are dependent on going the Saica route. They don’t know about SAIBA.”

“First, I applied for a SAIBA business accountant designation, which I got. Then, once I finished my degree, I applied for the business accountant in practice designation.”  

The designations allowed Kibungu to expand his service offering. “SAIBA filled in that gap. I see that, if I hadn’t done this, I would have probably been three or four years behind, not academically, but in terms of where I am now because I would have waited for my articles. Now I’m thinking post-articles.”

Step 3 – Take the leap

“The most frequent question I get is how did you start your practice? Don’t you need funding? I started my business from literally nothing. A little bit of savings here and there, pocket money from parents, but I made it work,” says Kibungu.

This is just the latest in a line of audacious but sensible leaps Kibungu has made, from deciding to work while studying, to applying for SAIBA designations and starting his own firm. It may not be traditional, but it’s working!
Post script:

Dennis Kibungu would like to thank the Kibungu Family, Themba Mate, Alta Ferreira, Ndamu Lidzhade CA(SA), Jeff Mosala CA(SA), Lwandile Magoda CA(SA), RGA, Tavaziva Machigidi CA(SA), RA, Kuselwa Majali, Nobuntu Finca CA(SA),Marnie Venter and Elmarie Goodchild CA(SA) for their guidance and assistance.