What is Accounting?
Accounting is the recording of financial transactions, and the accounting process consists of summarising, analysing, reporting and presenting the results in various analyses and reports. Accounting can also refer to the profession and the field of study which the tasks are carried out.
Is Accounting all about Mathematics?
Well, the subject Accounting is not entirely made up of mathematics, although mathematics do play an important role when trying to learn Accounting. However, don’t be intimidated by Accounting simply because it involved mathematics, as it is much more than just numbers. If you can do the basic four mathematics operations addition, subtraction, multiplication, and division, you are set!
Why Learn Accounting?
Accounting can be a useful knowledge even if you are not planning to work in the banking and finance industry. Accounting can come in handy, especially if you are a business owner because basic accounting equips you with the knowledge to manage your finance better, and it gives you a glimpse into the complicated finance world.
Here are some of the top Accounting Courses in Singapore to consider:
Course |
London School of Business and Finance Singapore |
| Programmes | ACCA, Singapore CA, ACCA/Oxford Brookes University, US CPA, Accounting and Finance Diploma |
| Pricing | Call to ask for pricing |
| Website | https://www.lsbf.edu.sg/ |
| Address | GB Building 143 Cecil Street #13-00 & #18-00
(#18 for Course enquiries) Singapore 069542 |
| Contact | +65 6580 7700
info@LSBF.edu.sg |
| Operating Hours | Monday to Friday: 9 AM to 9 PM
Saturday and Sunday: Closed |
| Review 1 | “A school with great culture and quality education. Recipient of multiple awards and a great place to study.” – Muhammad Husain |
| Review 2 | “The staff members are very helpful and understanding. Having the best experience in LSBF😊” – Prabhleen Kaur |
Course |
Nanyang Technological University |
| Programmes | Bachelor of Accountancy |
| Pricing | Subsidised students: SGD 9,400 (Singaporeans) SGD 13,200 (Singapore Permanent Residents) SGD 20,100 (International Students)
Non-subsidised students: SGD 36,830 |
| Website | https://www.ntu.edu.sg/Pages/home.aspx |
| Address | 50 Nanyang Ave, 639798 |
| Contact | +65 6791 1744 |
| Operating Hours | Open 24 hours |
Course |
FTMS Global Singapore |
| Programmes | Foundations in Accountancy (FiA) Suite, Preparatory Course for ACCA, BSc (Hons) Applied Accounting (Oxford Brookes University in Conjunction with ACCA), Preparatory Course for CFA, Preparatory Course for Singapore Qualification Programme – Professional Programme |
| Website | http://www.ftmsglobal.edu.sg/ |
| Address | 20 Collyer Quay #02-02 Singapore 049319 |
| Contact | +65 6735 0003
info@ftmsglobal.edu.sg |
| Review 1 | “Dearest Francis,
Thanks for your effort and time consuming for attending my question. Under such a good teacher, sure, I would not let him disappointed. I did it and passed. Once again thanks. Hope you will conduct higher-level tax course in future.” – Noelle |
| Review 2 | “Hi Billy,
Good Day. Just an update, I have scored 54 marks for P2 Corporate Reporting, June 2012 exam and is very pleased with my result. I would like to take this opportunity to thank you for your dedicated teaching and guidance in P2 Corporate Reporting. I would definitely recommend you to anyone who wishes to take P2 in future. Thank you once again =)” – Kailin |
| Review 3 | “Herewith, I would like to express my happiness and honour to be a student of FTMS. I have been studying for more than two years in FTMS. After successfully completing my Higher Diploma in Accounting and Finance awarded by FTMSGlobal Academy, I pursued the BSc(Hons) in Accounting & Finance degree awarded by Anglia Ruskin University (ARU), UK with the same institute. During my course of study at the FTMS I was able to fulfil my lifelong learning desire with a well-experienced panel of lecturers.
My heartfelt gratitude goes to my thesis supervisor who helped me all the way and he was readily available for me at every time. I would also like to take this opportunity to thank all other lecturers in FTMS who guided me and gave me both moral and academic support over the last two years. I greatly appreciate the administrative staff support and services that were rendered, especially when urgent correspondences with the university in UK where required. As I was an external student and being the first batch I needed their fullest co-operation for every single issue occurred during my university studies. They helped me to overcome all the difficulties not only for peer life but also in personal life too. Because of that, FTMS is such a wonderful place that I have ever been in my life with unforgettable nice memories. Without them and their support, I won’t be able to achieve my tasks on time. It is always a difficult decision to make when choosing to study an overseas course at a local institute. However, I chose the right place which has excellent facilities with a diverse environment. All the students were friendly even though they were from different countries and cultures. However, I enjoyed the company of the international students including lecturers, staff and fellow classmates who inspired me to stay positive, strong and kept me moving forward through challenges and hard times in my life. I would absolutely recommend FTMS for all students who are willing to further their studies.” – Erandika Kotalawala |
Course |
Kaplan Singapore |
| Programmes | Bachelor in Business Accounting, Preparatory courses for professional accounting qualifications |
| Website | https://www.kaplan.com.sg/ |
| Address | Kaplan City Campus @ Wilkie Edge 8 Wilkie Road, Level 2, Wilkie Edge, Singapore 228095 Kaplan City Campus @ PoMo |
| Contact | Bachelor’s Degree, Masters Degree: +65 8613 8989 Email: enquiry.sg@kaplan.com Professional Certification courses: ACCA/CFA/CPA/FIA/SCA +65 8317 8269 (Sabrina) or +65 8914 0685 (Chris) |
| Operating Hours | Monday to Friday: 9 AM to 9 PM
Saturday: 9 AM to 3 PM Sunday: Closed |
| Review 1 | “As an A-level student, one of my favourite subjects was Economics, which introduced me to the business world. This eventually ignited my interest in Accounting and Finance, and I decided to pursue my newfound passion.
I began with a Kaplan Diploma in Accountancy which I am grateful for its excellent quality. In view of my academic efforts, I was awarded a scholarship by Kaplan which enabled me to progress to a Bachelor of Arts (Honours) in Accountancy and Financial Management (Top-up) degree programme with the University of Portsmouth (UOP). I chose UOP as it was awarded the Gold rating within the Teaching Excellence Framework. I also felt that the units were relevant and enabled students to prepare well for careers in accounting and finance. The University provides plenty of online resources, including extra practice materials. Students can conduct further research by visiting the University online library, which is highly accessible. The pace of learning allows students to focus and absorb as much knowledge as possible. My experiences with the lecturers have been very positive. They are caring and dedicated and they take the effort to ensure I understand the subject matter while making lessons well-structured yet fun and engaging. I am grateful to Kaplan for hiring such outstanding lecturers. Through furthering my studies, I aspire to grow as an individual and learn valuable life lessons.” – Eugene Seow |
| Review 2 | “My burning passion for accounting inspired me to strive to become either a company accountant or an auditor. I intend to persevere and complete my Degree first, before pursuing a professional Association of Chartered Certified Accountants (ACCA), Certified Public Accountant (CPA) and Singapore Accountants (SA) qualifications. Therefore, I chose Murdoch University primarily as they are accredited by the ACCA and provide exemptions from foundation papers as well as direct entry into CPA programmes.
Having a strong interest in numbers, studying Accounting and Finance seemed like a natural choice, and Murdoch University allows me to study both Majors at once. This is a notable plus point as it allows greater specialisation and gives me a versatile education, and Murdoch University offers numerous other advantages to support my learning. For example, its flexible study schedule allows me to plan out my studies. As a part-time student, the ability to organise my learning means that my work and study won’t conflict and I can optimise my timetable to study efficiently. I am even able to revise online through blended learning. Throughout my studies, I have acquired work-related skills, such as QuickBooks, to provide additional value in my job. Studying is never a chore thanks to our friendly and engaging lecturers who are always available. Murdoch University is renowned with accreditations from several well-known organisations, and I believe its affiliations make it an advantageous choice for students. In addition, I advise others to study a Double Major Degree as it provides you with a strong competitive advantage over those without one by empowering students to be more innovative.” – Foong Yan Ru, FAIM Coordinator & Administrative Assistant, Arpin International (Asia) Pte Ltd |
Course |
PSB Academy |
| Programmes | Bachelor of Arts with honours in Accounting and Finance, Diploma in Business Administration (Accounting and Finance), Professional Certificate in Accounting and Finance |
| Website | https://www.psb-academy.edu.sg/ |
| Address | 6 Raffles Blvd, Marina Square, Singapore 039594 |
| Contact | +65 6390 9000 |
| Operating Hours | Monday to Friday: 7 AM to 10:30 PM
Saturday: 7 AM to 6 PM Sunday: Closed |
| Review 1 | “One of the best institutions in Singapore. Best-in-class campus. Amazing crowd and really helpful teachers. Overall best for almost every study available. Another stem campus available near too. Next to marina bay makes it easy to outing anytime. Must visit. ” – Chetan Mehta |
Course |
SIM Global Education |
| Programmes | Bachelor in Business (Accountancy), Diploma in Accounting |
| Website | https://www.simge.edu.sg/ |
| Address | 461 Clementi Road Singapore 599491 |
| Contact |
+65 6248 9746
study@sim.edu.sg |
| Operating Hours | Monday to Friday: 8:30 AM to 5:30 PM
Saturday: 9 AM to 1 PM Sunday and Public Holiday: Closed |
| Review 1 | “Excellent Institutes. I recommend the SIM Global Education University because one of my friends is studying there and he is satisfied with the education level and faculty support.” – Vaibhav Tripathi |
| Review 2 | “I recommend the SIM Global Education University because one of my friends is studying there and he is satisfied with the education level and faculty support. You can surely opt for the undergraduate and postgraduate programs with SIM GE.” – Manmeet Kaur |
Course |
Temasek Polytechnic |
| Programmes | Diploma in Accountancy and Finance |
| Pricing (Annually) | Subsidised fees: SGD 2,985.90 (Singapore Citizens below age 40) SGD2,018.90 (Singapore Citizens aged 40 and above) SGD 6,115.90 (Singapore Permanent Residents) SGD 10,949.10 (International Students) |
| Website | https://www.tp.edu.sg/ |
| Address | 21 Tampines Avenue 1 Singapore 529757 |
| Contact | +65 6788 2000
enquiry@tp.edu.sg |
Course |
Ngee Ann Polytechnic |
| Programmes | Diploma in Accountancy |
| Pricing (Annually) | SGD 2,900 (Singapore Citizens) SGD 6,000 (Permanent Residents) SGD 10,800 (International Students) |
| Website | https://www.np.edu.sg/Pages/default.aspx |
| Address | 535 Clementi Rd, Singapore 599489 |
| Contact | +65 6466 6555
Email: askNP@np.edu.sg |
| Operating Hours | Monday to Thursday: 8:30 AM to 6:00 PM Friday: 8:30 AM to 5:30 PM Saturday, Sunday & Public Holidays: Closed Note: Gates are opened from 6 am to 10 pm |
Course |
Singapore Polytechnic |
| Programmes | Diploma in Accountancy |
| Pricing (Annually) | SGD 2,991.09 (Singapore Citizens) SGD 6,121.09 (Singapore Permanent Residents) SGD 10,957.19 (International Students) |
| Website | https://www.sp.edu.sg/ |
| Address |
500 Dover Rd, Singapore 139651
|
| Contact | +65 67751133 contactus@sp.edu.sg |
| Operating Hours | Open 24 hours |
Course |
Nanyang Polytechnic |
| Programmes | Diploma in Accountancy and Finance |
| Pricing (Annually) | SGD 2,969.70 (Singapore Citizens) SGD 5,899.70 (Singapore Permanent Residents) SGD 10,532.90 (International Students) |
| Website | https://www.nyp.edu.sg/ |
| Address | 180 Ang Mo Kio Ave 8, Singapore 569830 |
| Contact | +65 6451 5115 |
| Operating Hours | Monday to Friday: 7:30 AM to 7:30 PM
Saturday and Sunday: Closed |
Course |
Singapore Management University |
| Programmes | Bachelor of Accountancy |
| Pricing (Annually) | Subsidised: SGD 11,450 (Singapore Citizens) SGD 16,000 (Singapore Permanent Residents) SGD 24,500 (International Students)
Non-subsidised: SGD 44,770 |
| Website | https://www.smu.edu.sg/ |
| Address | 81 Victoria Street Singapore 188065 |
| Contact | +65 6828 0100
enquiry@smu.edu.sg |
Course |
Amity Global Business School Singapore |
| Programmes | Diploma in Accounting and Finance, Preparatory courses for ACCA |
| Website | http://www.amitysingapore.sg/ |
| Address |
101 Penang Rd, Singapore 238466
|
| Contact | +65 6602 9500
info@singapore.amity.edu |
| Operating Hours | Monday to Friday: 9 AM to 7 PM |
Course |
Singapore University of Social Sciences |
| Programmes | Bachelor of Accountancy |
| Pricing | Subsidised: SGD 20,844.67 – SGD 21,095.05 (Singapore Citizens below age 40) SGD 8,338.51 – SGD 8,438.02 (Singapore Citizens aged 40 and above) SGD 40,841.90 – SGD 41,330.89 (Singapore Permanent Residents)
Non-subsidised: SGD 52,498.48 – SGD 53,127.64 (Singapore Citizens and Singapore Permanent Residents) SGD 62,998.18 – SGD 63,753.17 (International Students) |
| Website | https://www.suss.edu.sg/ |
| Address | 463 Clementi Rd, Singapore 599494 |
| Contact | Full-time undergraduate programmes: +65 6248 0188
Graduate and part-time programmes: +65 6248 9777 student_recruitment@suss.edu.sg |
Course |
Curtin Singapore |
| Programmes | Bachelor of Accounting |
| Pricing | SGD 36,288 (Singapore Citizens and Singapore Permanent Residents) SGD 51,840 (International Students) |
| Website | https://curtin.edu.sg/ |
| Address | 90 and, 92 Jln Rajah, Singapore 329162 |
| Contact | +65 6593 8000 |
| Operating Hours | Monday to Friday: 8:30 AM to 6 PM
Saturday and Sunday: Closed |
Course |
National University of Singapore |
| Programmes | Bachelor of Business Administration (Accountancy) |
| Pricing (Annually) | Subsidised: SGD 9,600 (Singapore Citizens) SGD 13,450 (Singapore Permanent Residents) SGD 20,550 (International Students)
Non-subsidised: SGD 32,250 |
| Website | http://www.nus.edu.sg/ |
| Address | 21 Lower Kent Ridge Rd, Singapore 119077 |
| Contact | +65 6516 6666 |
| Operating Hours | Monday to Friday: 8.30 AM to 5.30 PM Saturday, Sunday and PH: Closed |
For other recommended tutors, you can click here.
Professional accounting qualifications
Association of Chartered Certified Accountants (ACCA)
The Association of Chartered Certified Accountants dates back as far as 1904 in London, and it is the globally-recognised professional body offering the Chartered Certified Accountant qualification.
Currently, the ACCA qualification comprises of 14 papers, which are 2 to 3 hours each spilt between 4 modules. The 4 modules are the Applied Knowledge (Fundamentals), Applied Skills (Fundamentals), Essentials (strategic Professional) and Options (Strategic Professional) are it is a mandatory requirement of the ACCA that the modules are taken in the above order.
Associate Chartered Accountant (ACA)
The Associate Chartered Accountant qualification is provided by the Institute of Chartered Accountants in England and Wales, has been established since 1880. Their ACA qualification is a pre-requisite to becoming an ICAEW chartered accountant, and they are globally recognised.
The Associate Chartered Accountant qualification includes 15 modules, 6 modules for certificate level, 6 modules for professional level and 3 modules for advanced level.
Chartered Institute of Management Accountants (CIMA)
The Chartered Institute of Management Accounts qualification comes from the world’s largest professional body of management accountants. The CIMA qualification is one of the pre-requisites for becoming a Chartered Global Management Accountant (CGMA)
The CIMA qualification at the certificate level consists of 4 subjects, while the professional level consists of 3 levels with 3 pillars each (Operational, Management, and Strategic)
Singapore Chartered Association (SCA)
Formerly known as SQP, the Singapore Chartered Association qualification is a relatively new qualification that was launched by the Singapore Accountancy Commission and the Insititute of Singapore Chartered Accountants (ISCA) in 2013.
The foundation level comprises of 6 modules, and the professional level comprises of another 6 modules.
Differences between an accountant and an auditor
Auditors
Auditors verify the work that the accountants do, and they should also possess strong investigation skills. They examine the financial statements prepared by the accountants and make sure that they accurately represent the company’s financial status and liquidity. An auditor can work internally for a company or a third party, such as public accounting firms to audit for various businesses. The government can also employ auditors to work in the public sector.
Accountants
Accountants are required to be detail-orientated and focused as one minor mistake might cause millions of dollars worth of loss for a company.
Job Scope of an Accountant
- organise financial records
- review financial statements for accuracy
- ensure that financial records and statements comply with the law
- inspect accounting systems and account books to keep them up-to-date
Should you become an accountant?
A role as an accountant might be right for you if you are someone who enjoys concrete data, problem-solving, and routines. However, if you are an individual who prefers constant shifting, risk-taking and unpredictability, being an accountant might not be right for you.
Is learning accounting necessary?
Accounting is definitely a useful subject to learn as it is needed in every industry, and as long as businesses exist, accountants are needed. Accounting plays a crucial role in running a business because it helps you keep track of your revenue and expenses, and provide the government and potential and existing investors the financial information which helps in business decision making.
Basic accounting terms
Accounts receivable
Accounts receivable refers to the amount of money owed by the clients to businesses after purchasing the goods on credit (use first pay later).
Accounts payable
Accounts payable refers to the amount of money owed by a business to its suppliers which the goods were bought on credit.
Balance sheet
A balance sheet is a summary financial statement of a business’s assets, liabilities and equity.
Capital
Capital refers to the value of a financial asset or a financial asset such as goods and cash.
Cash flow
Cash flow refers to the expense or revenue that is expected to be generated through business activities over a certain period of time.
Credit
Credit is an accounting entry that either increase equity liabilities or decrease assets on the business’s balance sheet.
Debit
Debit is an accounting entry that either increase assets or decrease liabilities on the business’s balance sheet.
Expenses
Expenses are expenditures that a business may incur during its operations.
Equity
Equity is what you get after subtracting liabilities from assets. Owner’s equity is affected by the contribution or drawings the owner makes.
Trial balance
A trial balance consists of all ledgers compiled into debit and credit columns to ensure a business’s bookkeeping system is correct.
Liabilities
Liabilities refer to the financial obligations or debts a business as incurred during its operations. There are current and non-current liabilities. Current liabilities are payable within one year of the accounting period, and non-current liabilities are payable over a longer period of time.
Conclusion
For individuals who have trouble deciding if the accounting industry is the right career path for you, there are plenty of useful and free resources on the internet that you can use to learn more about the accounting profession and help you decide if this is the right career path for you. For aspiring accountants and perhaps auditors, it is important to do your research on the different qualifications available and the recognised accounting qualifications in Singapore. You definitely don’t want a situation whereby you invest your time and money into a qualification not recognised in Singapore!
Editor’s Note:
While every precaution has been made to ensure the accuracy and fairness of this listing, we acknowledge that they may be inaccuracies. Therefore, we urge you to contact the service provider above for the correct information and/or contact us with the correct information.
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