Among the many options for a successful professional life in Singapore, pursuing a chartered accountant course is one of the in-demand careers.

Although it takes a lot of hard work and determination to break into this field, the rewards are substantial: a high salary, a high level of respect from the general public, and a rewarding career. It’s not just the title that gives chartered accountants their reputation for excellence; becoming a chartered accountant is a complex and time-consuming process in and of itself.

Leaders in the corporate world interested in obtaining the Singaporean chartered accountant designation and broadening their knowledge in the accounting field will find the chartered accountant course ideal.

If you want a successful career, here’s how to become a chartered accountant.

What Makes A Chartered Accountant Different?

Financial management and reporting are core responsibilities shared by all accountants. The term ‘financial management’ encompasses a wide range of tasks, from accounting and budgeting to auditing and tax preparation.

Once you complete a chartered accountant course, you can be a specialist that operates in a wide range of industries to oversee the financial operations of a business, offer advice on financial matters, and assist with other money-related tasks. It applies to every organisation, private, public, or non-profit.

What Careers Can You Obtain After A Chartered Accountant Course?

The field of chartered accountancy is attractive because of the high salaries and job security it offers. Financial sectors are essential to success, and every company requires a dependable CFO, tax preparer, and auditor.

Chartered accountants provide an essential service for each business, regardless of the sector, which means your career options are practically limitless.

You’ll find work in any of the following fields if you have your chartered accountant certification:

• Commercial enterprises and manufacturing
• Services provided by Consulting Agencies
• Businesses specialising in chartered accountancy
• Organisations
• Providers of financial and capital markets
• Banking Industry

What Skills Do You Need To Become A Chartered Accountant?

When you take a chartered accountant course, some competencies go beyond what you’ve learned in school. Competencies you should have include the following.

1. Recognise and lessen the risk

The ability to spot and reduce potential monetary losses is the essence of strategic planning. Sometimes, a chartered accountant needs to weigh the benefits and drawbacks of a financial transaction to make an informed decision. You might also advise businesses on how to implement policies that lessen the likelihood of suffering a financial setback.

2. Identify long-term goals

Knowing how to become a chartered accountant means also learning to plan long-term financial goals. Formulating and carrying out significant business objectives is a necessary skill. As a chartered accountant, you need to develop long-term financial strategies for companies. Effective strategic planning calls for in-depth consideration of the links between various tasks.

3. Attentive and focuses on specifics

A chartered accountant’s duties may include checking the accuracy of financial documents for clients. If you pay close attention to detail, you can increase the likelihood that these records will be accurate and valuable to others who rely on them. When conducting a financial evaluation for another person, this method also guarantees precision.

4. Task administration

It will be a valuable skill as you often deal with multitasking while taking a chartered accountant course. Good time management skills are crucial; always finish each project’s associated tasks on schedule.

5. Solving complicated issues

Handling finances can often lead to complicated matters. As a chartered accountant, you will be responsible for spotting financial issues at businesses and suggesting fixes that would allow them to manage their money better.

6. Coordinated

A high level of organisation is essential for keeping on top of one’s workload and meeting all of one’s commitments. You must know how to coordinate everything from minor tasks to priority ones. To help firms thrive, you’ll need to be able to think creatively and solve them through professional advice.

7. Ability to handle people

If you enrol in a chartered accountant course, you will engage in activities that force you to interact with many people of different ages, education levels, and cultural backgrounds. You must have the skill to be flexible and be able to handle various clients.

Communicating topics comprehensively is an asset for accountants because they frequently work in teams and must share details with individuals who may not be fluent in accountancy lingo.

8. Passionate

Aside from knowing how to become a chartered accountant, you should also be very good with numbers and interested in how businesses and economies function. A chartered accountant’s credibility and judgement are essential traits for any position, as is the capacity to maintain a curious mindset.

Whether you’re hoping to enter attractive industries, it helps to have a passion for what you do. Successful CAs also tend to share traits like versatility and adaptability.

The Path to Chartered Accountancy

How to become a chartered accountant? One must undergo extensive training over the years and pass numerous tests covering many different areas of accounting. Here are some of the following requirements you must meet.

• After three years of study, you must pass a set of authorised tests covering financial management, auditing, business strategy, and taxation.
• Spend time each year updating their skills and expertise through formal training
• Gain expertise working with a variety of clients and sectors
• Adhere to a Code of Ethics and the values of honesty, fairness, objectivity, competence, privacy, and professionalism.
• Follow ethical practices

It’s challenging work leading up to a career with significant potential payoffs for you personally and professionally. Training centres like ICAEW Singapore offer ACA qualification valued by businesses. It includes 450 days of work experience while dealing with 15 test modules that cover a wide range of topics, enhancing one’s professional skills and learning more about ethical decision-making.

It also recognises a degree such as a Certificate in Finance, Accounting and Business, or ICAEW CFAB. It will provide the necessary background information and prepare you to bypass certain sections of the professional tests.

Stand out from the competition!

ICAEW Singapore is a respected professional membership organisation with branches in numerous countries throughout the globe. They equip accountants of the future with the skills and ethics necessary to handle the demands of today’s and tomorrow’s organisations. Become a member today!