Embrace disruption: Practical advice and insights from our SMU Accounting Masters students

Digital disruption is a buzzword that is making its rounds in every industry, and the accounting and financial sector is no different. In a world where change is the only constant, there is a constant need for accounting professionals to embrace and incorporate data technology to enhance their work. Accountants of today are expected to not only provide accounting advice but to also use their professional expertise to bring value and help clients shape business strategies.

During the recent virtual event, “Connecting with Accounting Masters Scholars”, we speak to four of our scholarship recipients from the SMU Master of Professional Accounting (MPA) and Master of Science in Accounting (Data & Analytics) (MSA) to find out why they chose to pursue these programmes, and how it has enhanced their careers.

	Kelvin Ang is a current part time MPA student and recipient of the SMU Masters ASEAN Scholarship. He Started his career at DBS as a Management Associate and joined Citi after that. Kelvin is currently the Group Treasurer of Sembcorp Marine.
	Silviana (Silvia) Oloan is a current part time MPA student and recipient of the SMU Masters ASEAN Scholarship. Previously a chemical engineer by training, she has been managing her family business for the past 5 years. She is largely involved in the business aspects of import and export of heavy machinery spare parts.
	Ryan Guo is a current part time MSA student, who is part of the pioneer cohort. He is also a recipient of the SMU Masters ASEAN Scholarship. Currently the Director and Data Analytics Program Lead in Visa, his team focuses on building data products for finance users and leading process improvements and automation.
	Goh Shun Min is a current full time MSA student and recipient of the UOB-SMU MSA Data and Analytics scholarships. Prior to the programme, she was with the Deloitte Audit and Assurance team, and a Chartered Accountant with commercial experience in a top UK law firm. She took a break to pursue this course full time, ready to embark on a new journey after graduation.

1. Directly applicable knowledge

For these students, one thing that especially stood out to them was the fact that the learning was very relevant to the current state of the accounting and finance industry. Ryan, who is working at Visa, shared that during the course, the skills they learnt were immediately transferrable. At the workplace, Ryan’s team carried out time-based analysis, which was using machine learning models to analyse data. This implementation helped in identifying anomalies within data easily and accurately.

With these skillsets, Ryan shared that some of his MSA course mates that graduated last year (as he is a part time student), were highly employable and went into business analysts and business intelligence roles – these roles usually serve as a bridge between IT and Business, commonly known as a data translator, which is a highly sought after skillset these days. For Shun Min, she felt that data analytics in the finance industry is taking flight, and she is very excited to leverage the skillsets that she is learning to improve efficiency in her future career.

Unlike the MSA students who has prior accounting background, Silvia jumped headfirst into accounting and she felt it was very practical knowledge to break into the business world. Crucial to running her family business, she understood how important this knowledge played in being a businesswoman. It is an essential to know accounting principles, but to be able to communicate that to stakeholders and clients – that is extremely important!

2. An edge above the rest

In recent years, there is a need for accounting professionals to embrace and incorporate data technology to enhance their work. Employers say they give hiring priority to accounting graduates with knowledge of data and analytics. These graduates command a premium salary as compared to their counterparts. While the MSA programme is only into its 3^rd intake thus far, Shun Min is confident that the skillsets gained in this course will give her an edge over her peers once she graduates. As a Chartered Accountant, she is in it for personal development and looks forward to honing her skills as she sees potential for greater use of data technology and predictive and prescriptive analytics to make day-to-day management decisions.

The SMU MPA has accreditations from 11 different government, academic and regulatory bodies, including ISCA, CPA (AUS), ACCA, ICAEW, opening global career opportunities. Silvia felt that it was important not just be recognised, but to be relevant, and therefore decided on the SMU MPA programme. She shared candidly, “It is a known fact that accounting is very practical knowledge to break into the business world, but to me, it is important not just to learn the accounting theories but have practical components that are relevant both now and in the future. This is crucial to running my family business.”

3. A unique teaching pedagogy

SMU’s distinctive seminar style learning emphasizes classroom interaction, which stimulates critical thinking in students. With our small class sizes, you are an active participant in your own learning progress, not just passive recipients of knowledge dictated from textbooks. Our hallmark pedagogy of interactive seminars, presentations and project-based assessments develop graduates who are proactive, analytical, creative, articulate and adaptable.

Kelvin shared, “During my undergraduate years, it was very much a lecture and tutorial system and did not emphasise much on class participation or interactive learning.” He eventually chose SMU for his postgraduate course as throughout his career, he noticed that SMU graduates tended to be outspoken and were daring enough to challenge the status quo, which he appreciated.

For Silvia, she understood that communication skills are valuable in the workforce these days. Unlike in the past, accountants now need to be good communicators, and for her role in her family’s business, she needed to be able to effectively communicate to many stakeholders. Having the ability to articulate business findings are extremely helpful in the industry.

4. A close accounting family

A huge part of the postgraduate degree is not just about learning new skills and knowledge, it is also about the people you meet, and the networks that you make. Kelvin and Shun Min head up their respective class committees, and they make it a point to organise activities outside the classroom to get to know each other better. For the international students, coming to Singapore is not just sitting within the four walls of a seminar room, it is also knowing where to find good food and know Singapore better, and the local students are excited to bring them on a fully cultural experience of our little island.

Ryan added that he liked to share his networks with the rest of the class, he organised a session where they brought in guest speakers from GIC to talk about Machine Learning. The session helped MSA students put into perspective what they have been learning in the classroom to how it could be valued and implemented in an organisation.

So, do you think you have what it takes to be a part of the SMU Accounting Masters programme? Our students share these 3 important points.

You have to BE METICULOUS.

According to Ryan, you don’t need to be a math whiz to be a good accountant. Accounting key principles talks about completeness and accuracy, and today even with data analytics, there is still a need for accuracy, but also at a much faster pace. So, you do need an eye for detail!

You have to BE COMMITTED.

Kelvin’s key advice? “Before you start, be sure to get buy in from 3 groups of people: your children, your partner, and your boss.” And he is not wrong. Taking on a Masters programme is a huge commitment, and you need to be able to put aside time for readings, assignments and projects, all while working a full time job.

You have to BE SURE.

Silvia quips, “You definitely need time management to juggle a job, another degree and having a life. You will realise that you have very little time with a lot of accomplish. You need to be sure.” But as a strong believer in life-long learning, Silvia believes that true growth can only come by embracing challenges, so her advice – “Go for it. Life is short. Do things you have not done.”

For more details on the programme, you may schedule a chat with our admissions advisor (fayeqiao@smu.edu.sg) or visit our website for MPA or MSA application details.

You are also welcome to participate in our upcoming events: one-for-one admission consultation or online masterclasses cum info session. Please click here for more information.