From Singapore Hotels & Singapore Lifestyle

An Accountant is a generic description used to address a person trained to be one.

Other similar titles, such as Financial Analyst, Finance Manager and Financial Controller, are either used to indicate the person's position and seniority in an organisation, or attempt to describe his role, responsibilities and area of specialisation, or both.

Higher up the hierarchy of the accounting profession, the use of different titles is necessary to reflect the increasingly macro level of responsibilities.

Contents 1 Job Scope 2 Personal Qualities 3 Entry Requirements 3.1 For Lower Positions 3.2 For Higher Positions 4 Career Opportunities

Job Scope

This can be broadly grouped into two categories:-

• Financial Accounting
• Management Accounting

These two categories are equally important. They are performed separately but in tandem. In both areas, you can expect to work long hours, especially at the end of the financial year, during the tax season and when monthly management reports need to be prepared. You may also be required to travel extensively.

In addition to Financial Accounting and Management Accounting, there are also other areas of specialisation which an accountant is qualified to perform.

These include:-

• Company secretarial practices
• Corporate recovery, restructuring and insolvency
• Management consultancy
• Internal audit and external audit
• Public sector accounting, including taxation matters
• Education

The scope of work in public sector accounting is similar to that in the private sector. The difference is that you are working for the government, and there are additional non-financial considerations such as social responsibilities, community service and care for the underprivileged that must be factored into any projects undertaken.

Under education, you may have to:-

• Tutor aspiring accountants and business students in a higher institution or a private education provider
• Carry out research in accounting, management or business fields
• Present research papers at conferences and conduct workshops on those areas of research

Personal Qualities

Accountants, including the specialists, need to gain the confidence and trust of employers, clients and the general public. You should be:-

• Honest, reliable and trustworthy
• Diligent, independent and committed to your work
• Meticulous and detailed in your work
• Have a strong business sense
• Be good at communicating, analysis and problem-solving
• Have good organising and computing skills
• Have good interpersonal skills
• Be good with facts and figures
• Be able to work under pressure
• Have an inquisitive mind
• Be resourceful

Entry Requirements

For Lower Positions

• A Diploma in Accountancy, Business or Business Administration, or equivalent
• A partially completed Association of Chartered Certified Accountants (ACCA) or Chartered Institute of Management Accountants (CIMA) qualification
• A diploma in Accounting and Finance or Certified Accounting Technician (CAT) qualification issued by the ACCA Board
• Proficiency in Microsoft Office applications would be an advantage

For Higher Positions

• A recognised local or overseas degree in Accountancy
• A professional accounting qualification such as the one offered by the Association of Chartered Certified Accountants (ACCA) or Chartered Institute of Management Accountants (CIMA)
• Membership in the Institute of Certified Public Accountants of Singapore (ICPAS), the local professional accounting body

Note: - Non-practising Certified Public Accountant (CPA) status is available to all members of accounting qualifications recognised by the Institute of Certified Public Accountants of Singapore (ICPAS), such as the Chartered Institute of Management Accountants (CIMA), subject to completing a pre-admission course - Practising Certified Public Accountant (CPA) status is available only to someone who intends to set up his own practice. A Practising Licence must be obtained from the Accounting and Corporate Regulatory Authority (ACRA), previously known as the Public Accountants Board, upon completing the ICPAS pre-admission course. An interview might be required.

• Knowledge of Enterprise Resource Planning software is desirable, such as SAP, Oracle, PeopleSoft, JD Edwards and Great Plains
• Knowledge of software used by small companies is also useful, such as AccPac, Simply Accounting, MYOB, PeachTree

The Company Secretarial and Corporate Restructuring and Insolvency functions can also be performed by a person with a law degree or a Chartered Secretary (Institute of Chartered Secretaries and Administrators, UK) professional qualification

Career Opportunities

• You can become a Financial Analyst, Cost Analyst, Tax Accountant, Cost Accountant, Finance Manager, Financial Controller, Group Financial Controller, Vice-President - Accounting and Finance, Chief Financial Officer, or Finance Director
• If you specialise in education, as an academic in institutes of higher learning, you can rise to become a professor, the dean of the faculty and even the chancellor of a university. You can also move into executive education, either as an educator or a businessperson, or both.