The diploma is suitable for aspiring accounting executives seeking knowledge of the latest accounting theory, practice and techniques in relation to organisational accounting operations. Students will be awarded a Diploma in Business Accounting, validated by International Management School (Pte) Ltd, Singapore.
This programme aims to equip aspiring accounting executives with the knowledge and skills to prepare accounting reports, budgets, financial statements and interpretation of financial information, including budget variances. In addition, the knowledge acquired from the programme would allow the students to understand the fundamentals of business working capital and ensuring assets, liabilities, and equity are maintained at an acceptable level.
To be considered for admission into the programme, applicants should have the following qualifications.
b. 3 GCE ‘O’ Levels or its national equivalent with three years of working experience; or
c. ITE Certificate in Business Studies (Accounting/Secretarial) with one year of working experience; or
d. ITE Certificate in Office Skills with three years of working experience; or
Applicants who do not meet the above requirements may also apply, but will be assessed on a case by case basis.
Students will take a placement test upon enrolments conducted by the school to determine their language proficiency.
Upon course completion, students will be awarded a Diploma in Business Accounting validated by International Management School.
a. Principles of Accounting. This module provides students with an understanding of the basic concepts and principles of accounting. The students also learn about accounting as an information development and communication function that support decision making by investors, loan officers, managers, government agencies and any party that bases its decisions on accounting information. Significant areas are the double entry concept, accounting process, special journals, subsidiary ledgers and control accounts, and the financial statements of merchandising businesses. This also includes an understanding of the control and accounting for cash, inventories and fixed assets, goods and services tax, partnership and fundamental accounting principles. The contend in this module form the basic for the subsequent modules titled “Financial Accounting” and “Management Accounting”, in particular, for non-accounting accounting.
b. Principles of Management. This module is designed to provide students an overview of the key functions of management and its role in organisations and society. The practical issues encountered by today’s managers will also be discussed. This module also introduces a wide range of business theories and practical applications related to effective management practices. The study includes the core management theories, emphasising management planning, decision making, organising, international management, leading, and controlling. Focus is also on contributing factors to management, such as communication, the role of the manager, design of the organisation, ethical issues, social responsibility and globalisation. In particular, the role of the manager in shaping the work environment, allocating resources, formulating strategy, developing a team, building the organisation and making decisions are covered.
c. Effective Communication. This subject provides students with competencies in both oral and written communication necessary for work. It also aims to raise students' awareness of the need to use language effectively and correctly for written and spoken communication. Topics covered will include application letters, resumes, interviews, meeting skills as well as interpersonal skills. Also, students will be taught mind-mapping, report writing, collaborative learning and oral presentation skills as well as basic writing skills.
d. Financial Accounting. This module builds on the foundation laid in Principles of Accounting. It introduces students to the basic concepts, principles, procedures and approaches underlying accounting processes in the sector of financial accounting. More emphases would be placed on the analysis and recording of business transactions using the double-entry system, accounting processes and the accounting cycle for businesses. Students will also learn to prepare, prepare, analyse and interpret financial statements of a company within the framework of accounting assumptions and principles. Key topics for the preparation of financial statements include the income statement, statement of changes in equity and balance sheet with accompanying notes, in accordance with Financial Reporting Standards in Singapore. The focus is also on business profit determination under the accrual accounting system, the accounting system used to account for and control various business assets namely non-current assets, cash and inventory, and independent topics like accounting for incomplete records, and clubs and societies.
e. Management and Cost Accounting. This course introduces cost and management accounting topics to enable students to understand how accounting information is used to manage an organisation. It focuses on the factors that differentiate one company from another. The course will look at various functional areas within the firm, ranging from manufacturing to marketing, and from accounting to human relations. Specifically, the module covers management accounting techniques in helping management in their decision-making, planning and control process. Topics include preparation of master budget for trading and manufacturing concerns, flexible budgeting, standard costing, variance analysis, cost-volume-profit analysis, activity-based costing and activity-based management. Also, the module introduces cost terminology, basic concepts and costing procedures to account for materials, labour and overheads, costing methods for jobs, processes, joint and by-products, and also variable and absorption cost techniques.
f. Financial Management. This course will provide a strong conceptual foundation for finance with an introduction into the financial environment and the role of finance in business. It considers the financial objectives of firms, cash planning and cash budgeting, working capital management, the management of current assets, capital budgeting decisions using discounting techniques, and the sources of short-term and long-term funds.
g. Economics. Provides students with an understanding of the basic economic concepts that are needed in the decision-making processes of firms. It also enables students to have a better understanding of the economic environment. At the microeconomics level, the students will examine the economic choices made by consumers, firms and the government, and how these decisions affect the market for a particular good or service. The module incorporates a study of the theory of demand and supply, and discusses production costs, price determination and supply decisions for individual firms in different market structures. At the macroeconomics level, the module surveys the workings of a typical economy; whereby the topics include economic growth, unemployment, inflation and the Keynesian model of the macro economy.
h. Company Law. The module introduces the basic principles of Company Law that governs and regulates the operation of the incorporation of companies, companies' corporate personality and powers, the relationships of the company with its members and management. In particular, the types of companies, directors' duties, objects and powers of a company, membership of a company, capital, shares and dividends, receivership, judicial management and liquidation will be taught. It also covers the, the security arrangements between the company and its creditors, insolvency and liquidation and generally the internal relationships within the company, and the external relationships between the company and its creditors. This module also equips students with a basic knowledge of the law and its application in a business environment. Commence with the basic features of the Singapore legal system. It then proceeds to introduce students to the basic principles of contract law, the Sale of Goods Act, the law of tort, cheques, agency and intellectual property. The legal aspects of business organisations and Business Ethics will also be covered.
i. Taxation. This module provides the student with an understanding on the basic concept, principles and practice of Income Tax laws applicable to both individuals and companies. The students will developed the skills needed for preparing tax computation for individuals, sole-traders and partnerships. Topics for computation of individual tax consider of income from employment and other sources, personal reliefs and rebates, deductions, capital allowances, goods and services tax (GST) and tax administration. The necessary knowledge for computing the corporate-related tax are taxation treatment of partnerships common investment incentives, economic expansion incentives, the goods and services tax, carry-back relief, loss transfer system of group relief, taxation of foreign income, withholding tax and tax incentives, double taxation reliefs and distribution of corporate profits.
j. Audit Practice. Students will be introduced to the basic concepts and principles of financial auditing. The basic knowledge and functional skills required to perform an individual and group audit assignments will be taught. In particular, the audit process, responsibilities of the auditor, audit evidence, objectives, materiality and audit risks. Audit techniques such as communication skills and documentation procedures necessary for conducting an effective audit are also covered. Also, the module includes the writing up of audit procedures for test of details of balances, final audit procedures and the audit opinion. Students will also explore advanced areas of auditing by examining issues that require professional judgement such as materiality and risk assessment, audit opinions, fraud, corporate governance, and the legal and ethical duties of an auditor.
The duration of the Diploma is approximately 10 months/ 600 hours (15 hours per week) for full-time. Course duration is specified as follows:
The diploma is divided into three semesters; the modules to be taught and allocation hours for respective semester are shown in the table below.
* Assessment fully based on classroom activities.
** The duration for the examination has been incorporated into the respective module.
