Money can’t buy everything, but you can’t buy anything without money and it’s how important money really is in our lives.
Are you interested in the concepts of money, business and management?
If you are, then you should consider studying an Accounting and Finance course to turn your interest into your career.
There are many universities where you can study Accounting and Finance, and Singapore has several of them which are prestigious.
Read on to find out more about studying Accounting and Finance and what it can offer you.
What is Accounting and Finance about?
Accounting and Finance is all about money, money and money.
It is one of the most popular courses to study globally as career opportunity in Accounting and Finance is endless and opportunities are widely available with accountancy firms, insurance companies, banks, management consultancies and other public and private sector employers.
Accounting and finance are often grouped as the same category of study but there is a difference between both expertise.
Accounting deals with a range of information analysis for many different aspects of a business, whereas, Finance is concerned only with the monetary funds of said business including the management of assets and liabilities and the planning of future growth.
What are the major fields in Accounting and Finance?
There are only two major fields in Accounting and Finance although there are universities which offer different types of programme like Bachelor of Accounting with Law, Bachelor of Accounting and Entrepreneurship, Bachelor of Finance and Management, Bachelor of Finance and Marketing, etc.
Accounting
Accounting is all about the financial records in a business, including the preparation, evaluation and management of the records.
An accounting degree will provide a foundation for specialized accounting careers which typically involve analyzing and utilizing financial information to evaluate a business’ financial position.
Accounting can be further categorized into specialized topics like auditing, tax, assessment, international accounting, forensic accounting and management accounting.
Finance
Finance careers typically focus on the management of current and future figures of a business, making careers in finance having potential to be slightly more lucrative than accounting.
A person in the finance sector will have to predict and analyze the potential for profit and growth, assessing monetary resources and look for more funding options for a company.
To be more specialized in this sector, finance can be studied further in corporate finance, financial evaluation, behavioral finance, capital markets, investment management and many more.
What are the important skills I need in this field?
Many important skills will be developed throughout the study in Accounting and Finance and the skills developed are useful to be applied in jobs related to the degree.
Although Accounting and Finance is a competitive field, there are some important skills which will help you to stand out among other competitors:
Numerical skills
As Accounting and Finance is all about money and figures, numerical skills are one of the most essential skills needed in this field.
An accountant will deal with mathematical operations like addition, subtraction, multiplication and division most of the time and there will also be a lot of accounting equations in different forms which are needed in the double-entry system of accounting and the preparation of balance sheet.
Problem solving
Accountants solve problems by helping a business with cash flow, debtors and improving their record keeping whereas a finance professional will have to analyze which market and products are profitable and what should a company sell to compete with its competitors.
Oral and written communication skills
Accounting and Finance is a fast-paced industry and clear communication is the key to being productive in the workplace. It is important that one has effective oral and written communication skills to avoid any miscommunication and increase productivity in the workplace.
What are the entry requirements and qualifications?
The entry requirements for different types of qualification are different, we have listed the general entry requirements for universities in Singapore according to the types of qualification:
Foundation
- IELTS - 5.5 (with writing sub band no less than 5.0)
- TOEFL (Paper-based) - 525-550
- TOEFL iBT - 69-79
- GCE O-Level English- C6
- Pearson Test for English (PTE-A) -46
- An equivalent English language qualification
Diploma
- IELTS - 5.5 (with writing sub band no less than 5.0)
- TOEFL (Paper-based) - 525-550
- TOEFL iBT - 69-79
- GCE O-Level English- C6
- Pearson Test for English (PTE-A) -46
- An equivalent English language qualification
Bachelor’s Degree
- EL119 - C6
- IELTS - 6.0 (no component lower than 6.0)
- MUET - 200
- TOEFL (paper based) - 580
- TOEFL iBT - 79-93
- A minimum of 12 years of formal education with good passes
- An equivalent English language qualification
How long will I be studying in this programme?
The duration of studying Accounting and Finance are different for different study levels and are listed in the table below:
| Level of Study | Duration |
| Foundation | 6 months - 1 year |
| Diploma | 6 months - 1 year |
| Bachelor’s Degree | 2- 4 years |
| Master’s Degree | 3 - 4 years |
How much does it cost to study Account and Finance?
There are a few universities in Singapore that offer an Accounting and Finance course and the prices may vary according to the types of programme and types of institution. We have listed the estimated tuition fees but do check with the universities to know more about the cost of the programmes.
| Programme | Estimated Fees |
| Foundation | RM 75,000 - RM 104,500 |
| Diploma | RM 15,000 - RM 88,000 |
| Bachelor’s Degree | RM 51,000 - RM 145,000 |
| Master’s Degree | RM 88,000 - RM 136,000 |
|
PhD |
RM 85,000 - RM 106,000 |
What are the job opportunities?
A degree in accountancy and finance may bring you job opportunities in related fields including jobs directly related to your degree and other jobs where your degree would be useful.
Some of the jobs are:
- Chartered accountant
- Chartered certified accountant
- Chartered management accountant
- Stockbroker
- Actuary
- Business development manager
- Data analyst
- Mortgage adviser
- Tax adviser
- Forensic accountant
- Investment banker
Which recognised universities offer Accounting and Finance in Singapore?
- National University of Singapore
- Nanyang Technological University
- Singapore Management University
- Singapore Management of Institute
- James Cook University
- London School of BUsiness & Finance
- TMC Academy
- Kaplan Learning Institute
- Management Development Institute of Singapore
National University of Singapore
National University of Singapore (NUS) is ranked 23rd in the world and offers single-degree, masters, doctoral and graduate diploma programs conducted via faculties like the Arts and Social Sciences, Business, Computing, etc.
Supporting cutting edge architectural practice and research relevant to a global Asian context, NUS architecture has a long-standing reputation as the top Asian architecture school.
Nanyang Technological University
In the Times Higher Education World University Rankings 2018-2019, Nanyang Technological University had gained a ranking of 51 among other universities around the world with a reputation as one of the leading science, technology and research universities in the world.
The university itself is well known for their eco-friendly building and grass roof to blend in with their garden campus setting and keep the ambient temperature low.
Singapore Management University
Singapore Management University is ranked 11th among other specialist universities worldwide and is rated 5 stars by QS World University Rankings.
Today, SMU comprises of six schools, which are School of Business, School of Accountancy, School of Economics, School of Information System, School of Law and School of Social Sciences. It offers a wide range of Bachelor’s, Master’s and PhD degree programmes in the disciplinary areas associated with the six schools.
Singapore Institute of Management
Singapore Institute of Management is a leading private institution in Singapore which offers a diverse range of education and training.
As a leading private education institution in Singapore and the region, it's well-equipped campuses are purpose-built to enhance student’s learning, recreational and networking needs.
Beside it's two campuses on Clementi Road and Namly Avenue in Singapore, it also has a campus in Cambodia which is located in Phnom Penh City Center.
James Cook University
James Cook University Singapore is a branch of James Cook University, based in Townsville, Australia, which is ranked in the top 2% of universities in the world.
The Singapore campus of James Cook University is located at Sims Drive and it provides students with access to a full range of facilities and services to support their learning.
It also provides the opportunity for students to study in Singapore and in Australia and yet still remain as Singapore based students paying their fees in Singapore currency.
London School of Business & Finance
London School of Business & Finance Singapore is part of the Global University Group and has campuses in London and Vancouver other than it's only campus in Asia which is located in Singapore.
It is located just minutes away from a MRT station, thereby making it more accessible for the students. Given that the size of the classes are small, every student will receive individual attention from their first-class teachers to optimise the learning experience.
TMC Academy
TMV Academy is a recognized Private Education Institution with multiple academic and corporate awards which offers a number of programmes in different disciplines in various levels.
Programme offered by TCM Academy includes Accounting, Business, Hospitality, Engineering and many more. It has an attractive progression route which provides a fast track to a Degree with it's Higher Diploma Programme, equivalent to the first 2 years of a 3 year UK Honours Degree
Kaplan Learning Institute
Kaplan is one of the world’s largest and most diverse education providers with over one million students globally. Headquartered in US, Kaplan is part of Graham Holdings (formerly The Washington Post Company) and is its largest subsidiary.
Being a platinum ACCA approved learning partner, Kaplan Learning Institute has been consistently producing ACCA Prize Winners and thousands of students.
Management Development Institute of Singapore
Founded in 1956, Management Development Institute of Singapore (MDIS) offers internationally-accredited course in Business and Management, Engineering, Health and Nursing, etc., in collaboration with renowned universities in the United Kingdom and the United States of America.
Apart from the main Singapore campus, MDIS also has international campuses in Tashkent, Uzbekistan, as well as in Johor, Malaysia.
