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Different Levels of Accounting Courses


Accounting courses in Singapore which have drawn an increasing number enrolees due primarily to the rising number of accounting firms that have risen in the finance service industry of the country. This development is triggered by the number of multinational companies that are now shifting their operations overseas and into Asian countries like Malaysia, Hong Kong and Singapore.

In a nutshell, accounting courses in Singapore vary based on: basic, intermediate and advanced. Basic accounting courses are introductory courses but are still more practical than the average four-year, formal degree instruction. It covers rudimentary concepts and principles in accounting like types of business structures, fundamental skills in using accounting equation, understanding and performing accounting processes, interpreting debits and credits, methods in developing the general ledger and general journal, organizing bookkeeping, and preparing basic reports such as statement of financial position, trial balance and income statement. Perhaps the most important knowledge and skill in a basic accounting course in Singapore is that of getting a better overview of double entry a primary source of accounting error.

Intermediate accounting courses in Singapore on the other hand include higher level subject matters like bank reconciliation procedures and methodology where students are taught the factors for the difference between bank statements and bank accounts, concepts of permanent and timing differences, difference between formats of bank reconciliation statement and hand-on practice on performing bank reconciliation activities. Intermediate courses also include special topics on adjusting for prepayments and accruals which in turn involve understanding the difference between accrual accounting and cash accounting and its implications in making income statement, and other necessary account adjustments strategies. Other intermediate accounting courses in Singapore also offer cognate topics like distinguishing between bad debts and doubtful debts, methods for preventing transactions from entering into the wrong period, accounting for non-current assets to reflect in your income statement and statement of financial position, acquisition of non-current assets, depreciation methods and accounting policy.

Finally, advanced accounting courses in Singapore understandably includes not just extensive by subjects that are extremely more abstract and technical than those in basic accounting courses or levels significantly. First there is ratio analysis, where students are taught concepts and operations of profitability, liquidity, capital structure, efficiency ratio. Then there is Income Tax Adjustment for business  which teaches adjusting for tax balances  for under/over provision for prior years and Loan and Hire Purchase for purchasing properties  which include trainings on calculating interest expense using the effective interest rate method, in line with the relevant financial reporting standards, allocating outstanding amounts into current and non-current liabilities and bookkeeping for this purpose.But perhaps the more important subjects covered in advanced accounting course in Singapore are those on learning about errors and how to correct the common types such as error of omission, commission, reversal, principle, original entry and compensating error which are important mistakes that need to be avoided which in turn is the main reason for hiring accountants.

Between basic and advanced accounting courses in Singapore, there are also hybrid diploma programs which focuses on financial accounting, management accounting, introduction to management and economics, quantitative analysis, principles of banking and finance, business information systems and commercial law respectively.