Will I be Jobless as an Accountant? - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




Will I be Jobless as an Accountant?

Reply
 
Thread Tools
  #1 (permalink)  
Old 03-05-2015, 10:34 AM
Verified Member
 
Join Date: Nov 2013
Posts: 14
Jobs is on a distinguished road
Default Will I be Jobless as an Accountant?

I'm studying Accountancy in one of the local universities (NUS/NTU/SMU). I've recently heard a lot about how automation will displace lots of jobs in the future (with accountants being at high risk). The possibility of automation within accountancy extends from Controller to FP&A functions.

As a result, I'm getting increasingly worried about being jobless in the future. Furthermore, there are lots of supply of accountants into the job market every year. On the other hand, the government also wants to transform Singapore into a "Leading Global Accountancy Hub". Will the job market for accountancy' turn out to be those hyped-up jobs that soon faded away (e.g. semiconductor engineers)?

Appreciate all replies. Thanks!

Reply With Quote
  #2 (permalink)  
Old 03-05-2015, 11:03 AM
Unregistered
Guest
 
Posts: n/a
Default

yes you will be jobless

Reply With Quote
  #3 (permalink)  
Old 03-05-2015, 11:40 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Jobs View Post
I'm studying Accountancy in one of the local universities (NUS/NTU/SMU). I've recently heard a lot about how automation will displace lots of jobs in the future (with accountants being at high risk). The possibility of automation within accountancy extends from Controller to FP&A functions.

As a result, I'm getting increasingly worried about being jobless in the future. Furthermore, there are lots of supply of accountants into the job market every year. On the other hand, the government also wants to transform Singapore into a "Leading Global Accountancy Hub". Will the job market for accountancy' turn out to be those hyped-up jobs that soon faded away (e.g. semiconductor engineers)?

Appreciate all replies. Thanks!
MNCs are outsourcing finance functions to places like china, I personally know a few cases. So yes, there is a possibility unless you have specialization like corporate finance transaction execution.

Reply With Quote
  #4 (permalink)  
Old 03-05-2015, 01:36 PM
Unregistered
Guest
 
Posts: n/a
Default

In Singapore's corporate culture, the ONLY reason you can get out of jobs is when your boss doesn't like you.

You will get fired using the pretext of competencies.

Otherwise, even terribly unqualified fake degree can stick to the job and IDA came all the way out to defend someone who engage in degree mill.
Reply With Quote
  #5 (permalink)  
Old 04-05-2015, 02:04 PM
Unregistered
Guest
 
Posts: n/a
Default

to TS, its impossible.
Reply With Quote
  #6 (permalink)  
Old 04-05-2015, 02:48 PM
Unregistered
Guest
 
Posts: n/a
Default

Strictly speaking accountancy jobs are in danger of being offshored to cheaper cetnres like India & Philippines rather than being replaced by automation.

Many MNCs have consolidated accounting jobs in cheaper locations or outsourced them to 3rd party providers overseas. Career prospects not good unless you move to a niche specialization or strategice business partnering / strategy side.
Reply With Quote

  #7 (permalink)  
Old 04-05-2015, 10:44 PM
Unregistered
Guest
 
Posts: n/a
Default

My answer is no. I cannot agree that outsourcing and automation will put Accountant's job in jeopardy. The main reason why big companies are outsourcing their so-called "accounting" or rather I would say book-keeping jobs to places like India is because of the voluminous repeating transactions. Book-keeping is not the job of an Accountant.

Being an Accountant is definitely more than that. You should be meticulous, have an eye for detail and able to see things more in depth. The scope of an Accountant varies widely. From financial planning to analysis, from management reporting to statutory reporting, tax, cashflow, costing, etc. If you are an Accountant in a regional office, your job will be more challenging. Some transactions can be so complex that Accountants have to scratch their head thinking how to record. Automation is to help Accountants turn out reports faster so that more time is being spent on analysis because Accountants are always fighting against time.

Try asking the outsourced companies to do the above and see what you get.
Reply With Quote
  #8 (permalink)  
Old 04-05-2015, 11:36 PM
Verified Member
 
Join Date: Nov 2013
Posts: 14
Jobs is on a distinguished road
Default

Thanks very much for all of your replies. I appreciate them very much!
Reply With Quote
  #9 (permalink)  
Old 06-05-2015, 12:02 PM
Unregistered
Guest
 
Posts: n/a
Default

May I just add that with SQA, anybody with a degree can easily join the accounting line. This is going to post additional challenge to existing/new Accountants.
Reply With Quote
  #10 (permalink)  
Old 06-05-2015, 12:04 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
May I just add that with SQA, anybody with a degree can easily join the accounting line. This is going to post additional challenge to existing/new Accountants.
I meant SQP.
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Anyone jobless for a long time before? Liverpool Income and Jobs 3492 27-02-2024 04:00 PM
Jobless Graduates Should Consider SAF Salary.sg Income and Jobs 63 06-10-2021 07:32 PM
Will headhunters work with jobless jobhunters? jljh Income and Jobs 3 02-07-2014 08:11 PM
fund accountant? walsly Income and Jobs 9 18-07-2013 03:17 PM
65,400 Jobless in September, will be Significantly More Salary.sg Income and Jobs 0 16-01-2009 05:38 PM

» 30 Recent Threads
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,333 Replies, 4,986,494 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,387 Replies, 2,325,577 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,811 Replies, 1,046,144 Views
GovTech ( 1 2 3... Last Page)
5,166 Replies, 2,165,740 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
682 Replies, 389,382 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
208 Replies, 134,810 Views
Career as Teacher ( 1 2 3... Last Page)
10,867 Replies, 6,675,539 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,460 Replies, 785,227 Views
Lawyer Salary ( 1 2 3... Last Page)
21,016 Replies, 10,333,195 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,051 Replies, 441,034 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
172 Replies, 309,979 Views
Compare civil service salary ( 1 2 3... Last Page)
16,346 Replies, 12,460,053 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,331 Replies, 1,142,872 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
311 Replies, 369,717 Views
Why Is Having a Google Virtual...
1 Replies, 6,809 Views
How is life as a doctor in... ( 1 2 3... Last Page)
7,240 Replies, 3,400,580 Views
JP Morgan ( 1 2 3... Last Page)
199 Replies, 173,570 Views
Mining Industry ( 1 2 3... Last Page)
80 Replies, 74,584 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,340 Replies, 4,774,232 Views
ST Electronics ( 1 2 3... Last Page)
3,768 Replies, 1,545,813 Views
Is getting a PMP worth it ?
4 Replies, 7,192 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,922 Replies, 2,903,896 Views
Nparks ( 1 2 3... Last Page)
39 Replies, 34,455 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,828 Replies, 4,658,465 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 814,154 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,864 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 359,129 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,376,146 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 614,119 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,740,215 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 11:37 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2