The title has already left a thousand minds in limbo. These people, usually students cannot decide for themselves if accountancy is a good choice or not. With the rise of the need for a lot of accounting services Singapore, demand for accountant is irrefutable. But how else can we justify the brilliancy of pursuing an accounting profession?
For one, accounting has a stable market for itself. Even if the economy moves different states, from recession to boom, businesses will always need professionals to crunch the numbers for them. Whether it’s a loss or it’s an income, not everyone in the corporate organization can interpret them the way accountants do.
Organizations need to report to authorities no matter what. We’re referring here regulatory bodies, tax authorities, board members, shareholders or even to the public. Accounting is the language organizations use to communicate with various stakeholders. Thus, accounting is a must for every business.
Accountants are among the best paid professionals anywhere on Earth. Their knowledge is very much appreciated by employers. Nevertheless, the salary will still depend on the level of experience, educational background, job description, location, etc. Accounting technicians and bookkeepers on average are paid $15,000 to as much as $35,000 every year. Newly certified accountants typically make $30,000 to $60,000 annually. On the other hand, seasoned and top management accountants can receive as high as $200,000 per annum. These are of course, just averages. If you want higher salaries then you need to be more competent though studying and gaining professional experience.
There are a lot of different fields within the accountancy profession. You can specialize on tax, business law, management advisory services, auditing, accounting information systems, fraud detection or any other specialization being offered on the market. Because of the vast number of people who wants to study accounting, you can also earn a living by writing books.
If you think you can’t thrive by working inside an office, you can go work on your own by freelancing. Just be sure you already have enough knowledge and experience to show to your clients. There are a lot of businesses looking for freelance accountants to run their accounting software for them. Most of the jobs are overseas, but if you want, you can go local by specifying you’re only offering to do accounting services in Singapore. It’s good to start first by providing SME (Small and medium enterprises) accounting.