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Accountancy is Getting More and More Popular in Singapore

It’s Chinese New Year and you’re stuck wondering what do you want to do with your extra time and money at hand? Why don’t you consider taking accounting courses while you are at it? According to the Bureau of Labor Statistics, “Employment of accountants and auditors is projected to grow 10 percent from 2016 to 2026, faster than the average for all occupations. In general, employment growth of accountants and auditors is expected to be closely tied to the health of the overall economy”. The landscape is always evolving with new updates and standards, meaning that there’s always something new to learn. So why don’t try?

There are many available partners offering basic accounting courses in Singapore as well as other accounting courses. And with its aim to be a leading global accountancy hub for the Asia-Pacific region by 2020, the demand for Accountancy courses/ workshops has since grown significantly.

So, in the spirit of the increasing interest in Accountancy career, the formulation of basic accounting course in the country which is holistic and capable of providing a solid platform for subsequent advancement to fundamental and professional course is an important venture. Here are some of the objectives that a fruitful and forward-looking partners must offer:

• Be able to develop an understanding of the framework of accounting, including the Accounting Equation and the essential components such as Asset, Liability, Equity, Revenue & Expense

• Be able to understand the difference between Accrual and Cash basis accounting

• Be able to understand Accounting Principles such as Matching Principle

• Be able to prepare Double Entry for the purpose of recording business transaction

• Be able to understand the difference between Inventory Periodic System and Perpetual System

• Be able to prepare Financial Statements namely Profit & Loss Statement and Balance Sheet

• Be able to prepare Cash Flow Statement

• Be able to do simple analytical deduction and conclusion from the Financial Statements

Accountancy is a multi-faceted profession. It is an important expertise needed in different areas and in diverse levels of industries. Accountants are not only found in accounting firms, they are necessary in almost every kind of business because balancing the accounts and ensuring that a company's finances are all in good condition is an important task.

The industry is also a dynamic one, and with the ultimate goal is of enhancing the profession and help strengthening the infrastructure of the accountancy sector while supporting members in various ways, there are many accounting courses in Singapore that continually helps individuals to advance their competencies and professional standings locally, regionally and globally.

Yes, a course in Accountancy, with Accountancy as a growing career, is not just to let time pass, it is an investment that is worth a try as we welcome the year of the dog. Remember that investing in your future in one of the most important decisions we have to make as we journey through this ever changing environment. Knowing the trend, and investing in it will help us decide. Let’s make a great start. Happy Chinese New Year!

Created By
Natalie Wong
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