Why Student choose ABM?
bookkeeping, to being a chartered accountant,
In today's era, student choose a course that will
assure them for the future. Sometimes student choose
a course by their skills and capability on a subject.
Maybe some student choose ABM, because they
have strengths for being an accountant or manager
someday. Otherwise, Student choose ABM because
they really want to improve their skills in math and
be prepared for the more hard task.
Students thinks that this course will prepare them for
a career in management accountancy, management
consultancy, and business management .Student
choose this course to enhance their skills and to be
more ready in taking a higher education. Student
want to have a background about how to be a
business leader or accountant someday. Also, they
choose this course because they know that there are
lot of opportunities are waiting on them after they
graduate in this course, inside and outside in our
country.
Advantages of Choosing Accounting Careers
Accounting Careers are some of the most in-demand
careers nowadays. As long as businesses exist, there
will always be a need for individuals with the
necessary knowledge to maintain financial records.
These individuals are often responsible for checking
financial statements, taxes and other types of
budgetary records. According to recent statistics, the
number of jobs for accountants and auditors is
projected to grow by at least 13% through 2020.
To qualify as an accountant, a minimum bachelor’s
degree in accounting or a similar field is required.
However, the changing landscape in the financial
industry means that individuals have to be better
equipped with a wider range of skills. This is why
more accounting professionals often have a Master’s
degree in Accounting or Business Administration.
It’s well-known that one of the main advantages of
choosing accounting careers is the above-average
salary, but there are also a number of other
advantages, such as:
A wide range of career choices– you can choose
among a range of job types within the financial
services sector. From auditing, to taxation, to
accounting careers are wide and varied.
Various opportunities for professional recognition
and advancement.
Options to work in different industries – you have
the option of working in public or private sectors or
you can be self-employed and charge fees as a
consultant.
Options to specialise in different types of work.
Progression is often fast in the accounting sector
and work is dynamic, so you will always have
chances of climbing the corporate ladder.
Job stability– accounting jobs are often in great
demand.
Better training opportunities – while studying
accounting, you’re likely to receive specific training
applicable to your career.
The financial industry is highly-regulated.
The industry is ideal if you are meticulous and
don’t mind repetitive work.’
The Importance of Understanding Accounting
Accounting is the most important part of any
successful business. It records all profits, losses,
credits, and debts. It tells you the state of the business
in numbers, not words. It provides the most vital
information you need to understand how your
business grows, makes money, where the profit of a
business goes, and what your cash flow is. In short,
if you do not understand the basic principles of
accounting, you cannot run a business, nor can you
even hope to help a business grow and profit.
Today in America, we face a new economic era
where, day by day, labor-driven jobs disappear,
being replaced by an ever-increasing number of
better-paying, general management jobs. If you work
for a company and are currently managing any aspect
of the company, or if you aspire to move up to
management, then you need to understand what
accounting is. Moreover, if you are an entrepreneur,
or you ever plan to start your own business, you need
to understand, at the very least, the basic principles
of accounting.
Many times, people hired into high-ranking positions
in corporate America have no concept of basic
accounting. In fact, at the mere mention of the word
"accounting" they become withdrawn and quiet. Yet
these same managers are somehow going to increase
sales and overall profit of a company.
Learning accounting is like any new skill. There is a
learning curve, and the skill needs to be practiced, or
used in this case, in order for it to be effective. If you
have access to your company's financial statements,
please take the time to apply our examples to your
company's financials.
Those of us who are born as right-brain thinkers tend
to be better at creative, imaginative, passionate
activities. Then there are those of us who are left-
brain thinkers, naturally adept at working with
numbers, applying logical reasoning, and
analytically solving problems.
Regardless of which category you fall into, the truth
is that anyone can learn the basic principles of
accounting and develop a knack for managing the
financial aspects of a business. The upside of
learning basic accounting principles is that,
regardless of whether it is a large Fortune 500
company or a small entrepreneurial start-up, the
same fundamental rules apply when working with
the bottom line.
"Accounting is a system of recording, analyzing and
verifying an organization's financial history."
-- Insurance Information Institute Web site.
Widely referred to as the "language of business,"
accounting is formally defined as the practice of
objectively measuring and reporting on a summary
of an individual or business's financial transactions.
In a more simplified description, accounting is the
process of producing timely, accurate, and
understandable information about a company's
financial status.
Accounting: Summarized Version
As a whole, an accountant's primary responsibility is
to account for the earnings and funds for a business
or individual. Accounting uses various bases of
measurement, mainly the cash basis, the accrual
basis (or historical cost), and variations of these.
Moving beyond the simple day-to-day maintenance
and cumulative reporting of financial records,
accountants are now also getting involved in
activities formerly viewed to be more in the realm of
financial planning, such as monitoring the
performance of a fund portfolio as it reflects upon the
company's overall financial health.
ENDURING BENEFITS OF ACCOUNTING
SKILLS
Aug 08, 2014
Accounting is much more than just a profession.
Studying accounting has benefits that will come in
handy for the rest of your life, in your career as well
as in your everyday activities. Learning the nuances
and art of accounting can be the beginning of a
lifelong love for finance, or the first step towards a
career as a business manager, investor, government
worker or more. If you have solid math skills and
enjoy using your reasoning skills to analyze, compile
and break down data, accounting could be a natural
fit for you.
Here are some of the key skills you can pick up by
studying accounting.
BOOKKEEPING AND MAINTAINING A
BUDGET
As part of your accounting training, you’ll learn how
to do bookkeeping and handle payroll. In your daily
life, these skills will help you set yourself a budget
and monitor your own expenses. You’ll be able to
apply principles of accounting to make better choices
in your everyday purchases, which can save you a
considerable amount of money over time. You’ll also
be more familiar with financing plans, assets,
liabilities, loans and other technical knowledge that
will help you get more out of your hard-earned cash.
Lastly, you’ll also be able to identify more easily
areas of your budget that could be improved, such as
regular expenses that could be cut. In the long run,
these skills can help you pay for your dream vacation
or, who knows, maybe even retire early!
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.
Notice: The article was written by Joel L. Tan-
Torres, the Chairman of the Board of Accountancy.
This is an article from the Debit Credit column
published by the Board of Accountancy. Permission
was obtained to published this article in this website.
Accounting Skills You Can Apply to Everyday
Life
Accounting is the process of gathering, recording,
summarizing and analyzing financial transactions or
data. Accounting skills can be used to apply to your
everyday life, and for a life-long learner thirsting for
knowledge and intellectual stimulation there are
many great applications. Life as an online learner can
be much more manageable if you are armed with
accounting skills. For example, accounting skills can
be used to analyze the grades you received from
assignments and exams. By recording and
summarizing that data in a spreadsheet, you can
analyze it and pinpoint the subject areas that you
need the most help with; then you can easily focus on
ways to improve your grades. Also, you can further
break down the recorded data and analyze the
amount of time you spent on each of those
assignments. Once you identify the subject areas that
you are weak at, you can devote more time to them
or seek out tutoring services. In fact, tutoring
servicesare also offered by American Public
University (APU) to students that need additional
assistance with their courses. Additionally,
accounting skills can come in handy when it’s time
to manage your spending. With college tuition,
books and supplies, and living expenses, your cash
outflows can get out of your control. Obviously, if
your cash outflows are greater than your cash inflows
(whether it be from federal student aid or work), then
you are not budgeting wisely. However, if you record
and summarize your cash flow activities in a
spreadsheet, such as Microsoft Excel, you can easily
analyze that financial data and adjust your spending
habits accordingly. Furthermore, accounting skills
can also be applied when it comes down to making
smart financial investments. With accounting skills,
especially when acquired from an accounting degree
program, you are able to make wise investment
decisions. For example, if you decide on investing
your hard-earned money on a company’s stock,
being able to compute profitability, liquidity and
debt ratios, you can analyze a company’s publicly
disclosed financial statements; and thus make good
investment decisions based on your analysis. Best of
all, accounting skills are well sought after by
employers. Practically every organization requires
an accountant with accounting skills to help keep
track of the day to day financial activities. In fact,
according to the Bureau of Labor Statistics (2012),
the projected employment growth rate for
accountants and auditors between years 2010 and
2020 is 16%, while the average growth rate for all
occupations is only 14%. Therefore, employment
prospects are bright for those with the required
accounting skills. Accounting skills are very
practical, and can be applied to many areas of your
life. As mentioned, accounting skills can be applied
when analyzing course grades, managing expenses,
or making smart financial investments. Also,
accounting skills are in demand by employers. For
that matter, you should acquire the necessary
accounting skills and make life easier. By Houn
Kang�Online Learning Tips, Special Student
Contributor
The Life of an Accountancy Student
Now that you have decided to follow your love for
numbers and will be taking up accounting as your
career, you will very soon don the hat of an
accountancy student. Whether you're in the under
graduate or post-graduate level, you ought to know
about the intricacies in the life of an accountancy
student. There will be a grind and you've got to
prepare for it, after all. The life of an accountant is
not a breeze. In addition to the difficult assessments,
there are so many factors that you need to be
prepared for should you wish to avoid a tempestuous
experience during the course. But fret not, for you
can be prepared for all that is to come. We adumbrate
some key facets that are symbolic of the life of an
Accountancy Student: • There will be no time - Yes,
sleepless nights and fast approaching deadlines are a
common feature in the dorms of accountancy
students. But if it makes you feel better, being
organized and avoiding procrastination can help you
efficiently race ahead of time. This could mean that
you'll be able to squeeze in a few hours a week for a
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.