The accountancy profession has always been an attractive career path for upcoming college students. Demand for accounting services Singapore is stable. Even though technological advances allowed different accounting software products to emerge, it is still inevitable for businesses to need accountants for complex processes.
Considering the accountants’ market is becoming more competitive than before, how can one stay relevant? One proven way these professionals do is to get certified in their area of expertise. Certifications give potential employers assurance that a certain accountant is proficient in his field. So, what certifications are available for accountants?
- Certified Public Accountant (CPA)
CPAs are your jack-of-all-trades accountant. They have passed a series of rigorous exams given by the state, in order to assess their knowledge of accounting subjects like accounting principles, auditing, management advisory services, business laws and taxation. Their license is recognized only in the country it was issued. Most accounting services in Singapore are rendered by CPAs because of their wide-ranging knowledge of accounting.
- Certified Management Accountant (CMA)
Other accountants ought to have certified in a specific accounting field. One of the certifications these accountants run into is the Certified Management Accountant license issued by the Institute of Management Accountant. Unlike the CPA certification, CMA is recognized worldwide. CMAs are particularly proficient in financial analysis, financial management and management advisory services.
- Certified Internal Auditor (CIA)
CIAs are experts of internal controls, internal audits and risk assessments. This certification is issued by the Institute of Internal Auditors, and is recognized globally. To have a license, you must pass a four-part exam, and must have 2 years of related experience.
- Certified Financial Planner (CFP)
Do you think you have a knack for financial planning? Try to be a Certified Financial Planner. This will add credibility to you as an expert when it comes to personal finance. Being certified means you are exposing yourself to a bigger market of individuals who are looking for professionals to manage their wealth.
- Certified Information Systems Analyst (CISA)
This is a global recognition granted by the Information Systems Audit and Control Association to professionals who proved to be adept in auditing, controlling and monitoring an organization’s information systems and technology. Due to modernization, some accounting firms in Singapore are opening up posts for CISAs to meet their client’s needs.
Which is best for you?
Salary should not be the main consideration here. Anyways, if you are good in your job, you will earn the compensation you deserve. First thing in your mind should be, “Which field am I interested the most?” From there you can trim down your choices until you find the best certification for you. Choose a career that is fulfilling for you.