Sunteți pe pagina 1din 6

Why Student choose ABM?

bookkeeping, to being a chartered accountant,


accounting careers are wide and varied.
In today's era, student choose a course that will
assure them for the future. Sometimes student choose Various opportunities for professional recognition
a course by their skills and capability on a subject. and advancement.
Maybe some student choose ABM, because they
Options to work in different industries – you have
have strengths for being an accountant or manager
the option of working in public or private sectors or
someday. Otherwise, Student choose ABM because
you can be self-employed and charge fees as a
they really want to improve their skills in math and
consultant.
be prepared for the more hard task.
Options to specialise in different types of work.
Students thinks that this course will prepare them for
a career in management accountancy, management Progression is often fast in the accounting sector
consultancy, and business management .Student and work is dynamic, so you will always have
choose this course to enhance their skills and to be chances of climbing the corporate ladder.
more ready in taking a higher education. Student
want to have a background about how to be a Job stability– accounting jobs are often in great
business leader or accountant someday. Also, they demand.
choose this course because they know that there are Better training opportunities – while studying
lot of opportunities are waiting on them after they accounting, you’re likely to receive specific training
graduate in this course, inside and outside in our applicable to your career.
country.
The financial industry is highly-regulated.
Advantages of Choosing Accounting Careers
The industry is ideal if you are meticulous and
Accounting Careers are some of the most in-demand don’t mind repetitive work.’
careers nowadays. As long as businesses exist, there
will always be a need for individuals with the The Importance of Understanding Accounting
necessary knowledge to maintain financial records. Accounting is the most important part of any
These individuals are often responsible for checking successful business. It records all profits, losses,
financial statements, taxes and other types of credits, and debts. It tells you the state of the business
budgetary records. According to recent statistics, the in numbers, not words. It provides the most vital
number of jobs for accountants and auditors is information you need to understand how your
projected to grow by at least 13% through 2020. business grows, makes money, where the profit of a
To qualify as an accountant, a minimum bachelor’s business goes, and what your cash flow is. In short,
degree in accounting or a similar field is required. if you do not understand the basic principles of
However, the changing landscape in the financial accounting, you cannot run a business, nor can you
industry means that individuals have to be better even hope to help a business grow and profit.
equipped with a wider range of skills. This is why Today in America, we face a new economic era
more accounting professionals often have a Master’s where, day by day, labor-driven jobs disappear,
degree in Accounting or Business Administration. being replaced by an ever-increasing number of
It’s well-known that one of the main advantages of better-paying, general management jobs. If you work
choosing accounting careers is the above-average for a company and are currently managing any aspect
salary, but there are also a number of other of the company, or if you aspire to move up to
advantages, such as: management, then you need to understand what
accounting is. Moreover, if you are an entrepreneur,
A wide range of career choices– you can choose or you ever plan to start your own business, you need
among a range of job types within the financial to understand, at the very least, the basic principles
services sector. From auditing, to taxation, to of accounting.
Many times, people hired into high-ranking positions measurement, mainly the cash basis, the accrual
in corporate America have no concept of basic basis (or historical cost), and variations of these.
accounting. In fact, at the mere mention of the word
Moving beyond the simple day-to-day maintenance
"accounting" they become withdrawn and quiet. Yet
and cumulative reporting of financial records,
these same managers are somehow going to increase
accountants are now also getting involved in
sales and overall profit of a company.
activities formerly viewed to be more in the realm of
Learning accounting is like any new skill. There is a financial planning, such as monitoring the
learning curve, and the skill needs to be practiced, or performance of a fund portfolio as it reflects upon the
used in this case, in order for it to be effective. If you company's overall financial health.
have access to your company's financial statements,
ENDURING BENEFITS OF ACCOUNTING
please take the time to apply our examples to your
SKILLS
company's financials.
Aug 08, 2014
Those of us who are born as right-brain thinkers tend
to be better at creative, imaginative, passionate Accounting is much more than just a profession.
activities. Then there are those of us who are left- Studying accounting has benefits that will come in
brain thinkers, naturally adept at working with handy for the rest of your life, in your career as well
numbers, applying logical reasoning, and as in your everyday activities. Learning the nuances
analytically solving problems. and art of accounting can be the beginning of a
lifelong love for finance, or the first step towards a
Regardless of which category you fall into, the truth
career as a business manager, investor, government
is that anyone can learn the basic principles of
worker or more. If you have solid math skills and
accounting and develop a knack for managing the
enjoy using your reasoning skills to analyze, compile
financial aspects of a business. The upside of
and break down data, accounting could be a natural
learning basic accounting principles is that,
fit for you.
regardless of whether it is a large Fortune 500
company or a small entrepreneurial start-up, the Here are some of the key skills you can pick up by
same fundamental rules apply when working with studying accounting.
the bottom line.
BOOKKEEPING AND MAINTAINING A
"Accounting is a system of recording, analyzing and BUDGET
verifying an organization's financial history."
As part of your accounting training, you’ll learn how
-- Insurance Information Institute Web site. to do bookkeeping and handle payroll. In your daily
life, these skills will help you set yourself a budget
Widely referred to as the "language of business,"
and monitor your own expenses. You’ll be able to
accounting is formally defined as the practice of
apply principles of accounting to make better choices
objectively measuring and reporting on a summary
in your everyday purchases, which can save you a
of an individual or business's financial transactions.
considerable amount of money over time. You’ll also
In a more simplified description, accounting is the be more familiar with financing plans, assets,
process of producing timely, accurate, and liabilities, loans and other technical knowledge that
understandable information about a company's will help you get more out of your hard-earned cash.
financial status. Lastly, you’ll also be able to identify more easily
areas of your budget that could be improved, such as
Accounting: Summarized Version
regular expenses that could be cut. In the long run,
As a whole, an accountant's primary responsibility is these skills can help you pay for your dream vacation
to account for the earnings and funds for a business or, who knows, maybe even retire early!
or individual. Accounting uses various bases of
DOING YOUR OWN TAXES
Being able to fill out tax forms isn’t just a great way
to save money, it can also be a money-making
opportunity. Most people dislike having to fill out tax
forms and would prefer not having to think about this
process at all, which is why they’ll gladly hire
someone to ensure that everything is in order. Once
a year, many accountants open temporary businesses
in which they take on clients eager to be done with
their taxes. For the accountant, not only is the influx
of extra income useful, but he or she will also get to
meet and work with different people from all walks
of life, from teachers at pharmacy technician
colleges to professionals who possess police
foundations training.

LEADERSHIPSKILLS
What do accountants know about leadership?
Believe it or not, more than you think. Accountants
are often trusted advisors who work closely with
managers and higher-ups, meaning they get to
observe how leaders think and act on a daily basis.
Over time, some accountants will even move into
management positions themselves, or sign up for
classes at business management colleges. In their
everyday lives, accountants can also use these
lessons to make wiser decisions or consider a
problem for a different perspective.
When I will reap the benefits of my hard work? of the accountants being given more value and
credibility by the users thereof; in terms of the
The accountancy world in the Philippines was
quality of the accounting graduates entering into the
awakened with the issuance of a number of
work force; in terms of making sure that the super
regulatory measures by the Board of Accountancy at
minority erring accountants are not able to take
the start of the year. These included such measures
advantage the super majority of the professional
as the requirement for the issuance of the Certificate
accountants whom they are able to undercut the fees,
of Financial Statement preparation; the accreditation
“pirate” existing clients and tarnish the image and
of Certified Public Accountants (CPAs) in
reputation of the entire profession with their
commerce and industry, in the accounting education
nefarious activities. There are so many current local,
and partners, and CPA professional staff of
regional and global developments affecting the
accounting firms; the revised rules on the Quality
profession in terms of the way we do our business
Assurance Review; the visitation of the office of the
and how we will “survive” in this changing
CPA in public practice; and, the submission of the
environment. The developments and issues
engagement reports and the Quality Assurance
confronting all of us include (1) the growing
Checklist. In the different fora where I have been
emphasis on governance, transparency and quality
expounding on the new measures, I make it a point
standards; (2) the increasing opportunities, as well as
to discuss in the very beginning of my talks the (1)
competition or threats in our economy and
current situation of the accountancy profession and
profession; (3) the forthcoming MRA promoting the
professionals in the Philippines; (2) the needs of the
mobility of accountants in the region; (4) the
times in our profession as a result of global, regional
unabated negative impact brought about by the erring
and local developments; and (3) the vision of the
ways of the super minority erring CPAs; (5) the
accountancy profession and professionals that may
expanding role of the various government regulators
be attained with the “super majority” of accounting
to protect the interest and welfare of the stakeholders
professionals cooperating and moving as a team in
whom they are accountable for; and (6) the perennial
line with the six-point Expanding Horizons strategic
unanswered question:“After all my hardships in
plan. With this discussion, I believe that most of
becoming and professionally functioning as a CPA,
those affected by the new measures will now better
how and when will I reap the benefits that I deserve
appreciate and understand why we are doing all these
I believe that the answer to this question is
today. I present the highlights of these discussion
forthcoming. If the accountancy profession is able to
points. The Philippine accountancy profession has
move hand in hand as a team to ensure that (1) the
been formally organized and existing for over 90
super majority of our accountants are able to work in
long years, with over 165,000 CPAs registered in the
a just and fair environment where professional work
Professional Regulation Commission records since
is rewarded; (2) the CPAs are able to gain from their
1923. I believe this will make the Philippines the
stakeholders their full respect and recognition of the
oldest and largest in terms of history and CPAs in the
CPAs’ important role and responsibility; and, (3) the
Asean, if not Asian region. Given this, our profession
super minority accountants either shape up, ship out,
and professionals should be placed at the “very top
or are forcibly separated by the regulator from the
level of our region’s/country’s economic and
accountancy profession. These can be achieved with
professional hierarchy.” Are we in that situation right
the implementation of our strategic Expanding
now? Most of us in the accountancy profession will
Horizons plan. And once these results are attained,
agree that the profession and accounting
we finally will be able to answer the long unaswered
professionals still have a lot to go in terms of
question—“After all my hardships in becoming and
reaching our potential in getting more recognition or
professionally functioning as a CPA, how and when
respect from the stakeholders; in terms of the
will I reap the benefits that I deserve?”—with this
professional accountant earning more from their
response:“It will be soon attainable.” And I am sure
work or practice; in terms of the outputs (especially
that if this is the end state that we can expect, then
the financial statements and accounting disclosures)
most of us will be ready to sacrifice a little of our
effort, time and money to make all these doable. being able to compute profitability, liquidity and
Notice: The article was written by Joel L. Tan- debt ratios, you can analyze a company’s publicly
Torres, the Chairman of the Board of Accountancy. disclosed financial statements; and thus make good
This is an article from the Debit Credit column investment decisions based on your analysis. Best of
published by the Board of Accountancy. Permission all, accounting skills are well sought after by
was obtained to published this article in this website. employers. Practically every organization requires
an accountant with accounting skills to help keep
Accounting Skills You Can Apply to Everyday
track of the day to day financial activities. In fact,
Life
according to the Bureau of Labor Statistics (2012),
Accounting is the process of gathering, recording, the projected employment growth rate for
summarizing and analyzing financial transactions or accountants and auditors between years 2010 and
data. Accounting skills can be used to apply to your 2020 is 16%, while the average growth rate for all
everyday life, and for a life-long learner thirsting for occupations is only 14%. Therefore, employment
knowledge and intellectual stimulation there are prospects are bright for those with the required
many great applications. Life as an online learner can accounting skills. Accounting skills are very
be much more manageable if you are armed with practical, and can be applied to many areas of your
accounting skills. For example, accounting skills can life. As mentioned, accounting skills can be applied
be used to analyze the grades you received from when analyzing course grades, managing expenses,
assignments and exams. By recording and or making smart financial investments. Also,
summarizing that data in a spreadsheet, you can accounting skills are in demand by employers. For
analyze it and pinpoint the subject areas that you that matter, you should acquire the necessary
need the most help with; then you can easily focus on accounting skills and make life easier. By Houn
ways to improve your grades. Also, you can further Kang�Online Learning Tips, Special Student
break down the recorded data and analyze the Contributor
amount of time you spent on each of those
The Life of an Accountancy Student
assignments. Once you identify the subject areas that
you are weak at, you can devote more time to them Now that you have decided to follow your love for
or seek out tutoring services. In fact, tutoring numbers and will be taking up accounting as your
servicesare also offered by American Public career, you will very soon don the hat of an
University (APU) to students that need additional accountancy student. Whether you're in the under
assistance with their courses. Additionally, graduate or post-graduate level, you ought to know
accounting skills can come in handy when it’s time about the intricacies in the life of an accountancy
to manage your spending. With college tuition, student. There will be a grind and you've got to
books and supplies, and living expenses, your cash prepare for it, after all. The life of an accountant is
outflows can get out of your control. Obviously, if not a breeze. In addition to the difficult assessments,
your cash outflows are greater than your cash inflows there are so many factors that you need to be
(whether it be from federal student aid or work), then prepared for should you wish to avoid a tempestuous
you are not budgeting wisely. However, if you record experience during the course. But fret not, for you
and summarize your cash flow activities in a can be prepared for all that is to come. We adumbrate
spreadsheet, such as Microsoft Excel, you can easily some key facets that are symbolic of the life of an
analyze that financial data and adjust your spending Accountancy Student: • There will be no time - Yes,
habits accordingly. Furthermore, accounting skills sleepless nights and fast approaching deadlines are a
can also be applied when it comes down to making common feature in the dorms of accountancy
smart financial investments. With accounting skills, students. But if it makes you feel better, being
especially when acquired from an accounting degree organized and avoiding procrastination can help you
program, you are able to make wise investment efficiently race ahead of time. This could mean that
decisions. For example, if you decide on investing you'll be able to squeeze in a few hours a week for a
your hard-earned money on a company’s stock, workout routine or for family and friends. • Your
interaction with professors is crucial - Regular
interactions with professors regarding study lessons
while seeking their help or clarifications is a vital
part of any course. Students of accountancy often
agree that they approach their guides and mentors
when they are stressed out or low. Pep talks follow
that help students get back on track. • Breaks are
important - Stress gets to us, irrespective of the
nature of job. Whether self-created or induced by
external factors, stress isn't a very productive
parameter, so learn to avoid it. Take a good break
once a while, so that your workload and burn out
don’t bog you down. • Scale up your skill set - While
your curriculum will mostly be aligned to what the
industry demands of you, there is bound to be a gap
between the textbook and the application of
accounting knowledge in reality. Integrate your
classroom learning with practical work by being a
part of annual summits, class debates, and other tasks
that involve learning. Maximise your potential by
reading more than just the prescribed study material.
• Meet people and network - Contacts and network
form the crux of the world of chartered accountancy.
If you are outgoing, this is probably a step you would
enjoy, but even if you prefer to be a silent spectator,
make your presence felt. You never know which
contact could help you land the dream job offer you
are hoping for. • Apply for internships - This step is
a precursor to the end goal of landing a sought after
job. Internships help you understand the nature and
style of work of various accounting firms and are
imperative for any accountancy graduate. Most
schools have a centre like the Graduate Studies
Career Development Office at Nanyang Business
School, NTU, Singapore that will guide you through
this phase. The life of a student is a lot of work but
not as mind numbing as you think it would be. Being
meticulous and focussed is the key to a smooth ride
through student-life. When you sign up for a reputed
masters in accountancy, like the MSc in
Accountancy from Nanyang Technological
University, Singapore, you can be sure of
experiencing the best year of your life, that will
prepare you for the challenging life of a professional
accountant that follows.