Career Path As An Accountant

[hozhijie]

Hi guys, I am 21 this year and currebtly serving NS and will ORD 2016 September.

I am some questions about the jobs that are available for me to choose once I ORD.

I hold a Diploma in Information Technology from Republic Polytechnic but I can truefully says that I don't plan to build my career in the IT field.

I am currently self-studying ACCA in the army by myself and is on F1 paper right now. I plan to complete at least F1-F4 by the time I ORD so at least I can get hold of a Diploma in Accounting and Business and start building my career in the finance sector while I continue to pursue the remaining ACCA papers and of course the OBU degree that is in partnership with ACCA.

So what I want to ask is,

What are some of the positions that I can hold with the Diploma in Accounting and Business?(I know the value of the Diploma In Accounting and Business isn't big since it is relatively easy to get but I just wish to know the roles and position that I can start with in the Finance Sector)

Can I actually still work in the government sector?(Recruit me base on the Diploma I have in RP but doing Accounts related job instead)

Any advice or recommendation that you guys can have for me regarding to the career that I am going for in the future?

Thank you for your time to whoever took the time to read this and reply. I appreciate it a lot!

 

[needreader]

Hi,

Not sure where is your diploma from but you can try finding a job as an account assistant. I got my first job as an account assistant with ACCA F1-F3 and an A level certificate. The Company is just a small private company.

I am not very fussy about the company which I joined as I wanted to accumulate valuable working experience. For a somebody without any working experience, it might be challenging for you to enter the government sector.

 

[SG-xLeox]

Hi ZhiJie,

Let me share my experience.

In response to what are the typical career path of an Accountant and the types of positions, please see below:-

Generally, in a commercial accounting environment, the hierarchy (or career path) of in a MNC Finance Department is as follows:-

(Lowest to highest)
Accounts Assistant
Accounts Executive
Accounts Supervisor / Senior Accounts Executive / Assistant Accountant
Accountant
Assistant Finance Manager / Senior Accountant
Finance Manager
Senior Financial Manager / Financial Controller
Chief Financial Officer

Notes:-

1. Accounting itself is a very wide profession. It range from traditional bookkeeper (AR/AP/GL) to specialist that focus on Management Accounting (Budgeting, Variance Analysis, Performance Management), Tax Accountant (Corp Tax, Transfer Pricing, etc), Internal Audits (Compliance, Operational Audits) Treasury Specialist (Hedging, Funds), heck some even branchout to investment firms doing Fund Management or i think Barclays call them Fund Controller or something... etc etc etc... Think of it like a Hospital. The brain surgeon (specialist) does not know management skills about running the hospital. The doctor (Head of Hospital?) does not know how to do operation on the brain.

A matter of fact, since you are only 21 - i strongly advise you to try out different roles or talk to people who are experience in them before you decide to venture into one. When you decide what you want, stick to that role and accumulate the necessary experiences so you become valuable to the company.

2. It is common, actually very common in the industry that accountancy graduates starts their career with public accounting (like Big4, Baker Tily, StoneForest) to gain exposure to different industry, gain technical knowledge (yes - they do FRS training periodically, methodology training, moving up the ladder - taking on responsibility, handling portfolios, ensuring revenue recovery). Anyway, i am getting out of point again - What i am trying to say here is: It is not a must to start from bookkeeping (AR/AP/GL/Fixed Assets) to move up that hierarchy although its the easiest. Alternative common approach is by joining the audit for 3-4 years, then jump up and become an commercial accountant (this is the shortest route though).

--------------------------------------------

Answering second part of your questions:-

If you like to join the government sector, then stick to it.
If you wants to join the banking industry, then stick to it.
If you want to stay in commercial, then .. stick to it.
Don't work 2 years as Assistant in a ministry (Charities Act), then jump out 2 years assistant in a Bank (MAS), then 2 years executive in a MNC (Companies Act). That 6 years could have allowed you to reach an Accountant role (if you also obtain your professional certifications).

Opportunity cost my young friend ^^ plan and decide wisely.

That is why - Career is both scary and exciting ^^


Edit:
Please note, professional certification is very important for all professional job. (http://isca.org.sg/become-a-member/pathways/)