Senior Financial Reporting Accountant Salary

Senior Financial Reporting Accountant Salary – Salary Guide: How Much Does an Accountant Make in Singapore? The average salary of an accountant is around $4,500.

Accounting is recognized as an acceptable career choice by traditional Asian parents. I remember my parents asking me to buy books (after it was clear I wasn’t going to be a doctor or a lawyer) and being disappointed when I chose another path. Students choosing to study in the future and planning a mid-career change may wonder if accounting is a good and safe career choice, as our parents’ generation told them.

Senior Financial Reporting Accountant Salary

Senior Financial Reporting Accountant Salary

Becoming an accountant can be a versatile career choice. Every business in all industries and sectors needs an accountant (or several) to help with bookkeeping and accounting. This means that an accountant can work in many industries and businesses, from small to medium-sized enterprises (SMEs) to large multinational corporations (MNCs).

Becoming A Financial Analyst

As part of our salary guide, we take a look at how much an accountant, certified public accountant (CPA) or chartered accountant (CA) earns in Singapore.

The first thing to remember about accounting is that there is a difference between an accountant and a certified public accountant (such as a CPA or CA). In general, an accountant is a general term that refers to someone who has completed an accounting degree or held an accounting position in a company.

However, to become a certified public accountant, an accountant must meet certain eligibility criteria and pass the necessary tests and standards set by a professional organization.

The professional qualification and designation for accountants in Singapore is the Chartered Accountant of Singapore (CA Singapore). This is a change from the previous name Singapore Certified Public Accountant (CPA) before July 2013.

Salary Guide For The Accountancy Sector

The CA Singapore qualification is set by the Singapore Accountancy Commission (SAC) – a statutory body under the Ministry of Finance and administered by the Institute of Singapore Chartered Accountants (ISCA). It is internationally recognized through mutual agreements with Chartered Accountants Australia and New Zealand (CA ANZ), Chartered Accountants Ireland (CAI), Institute of Chartered Accountants Scotland (ICAS) and Institute of Chartered Accountants England and Wales (ICAEW). Also known. .

In addition, CA (Singapore) must be registered with the Accounting and Corporate Regulatory Authority (ACRA) to become a public accountant authorized to provide public accounting services such as auditing and reporting of financial statements, which requires additional professional requirements. does.

To be eligible to become a CA (Singapore), diploma seekers must complete a professional program of at least 5 modules, which includes 1 module and 4 technical modules. They must accumulate at least 450 working days during 4 years of actual work experience in an approved training organization under the supervision of an approved teacher.

Senior Financial Reporting Accountant Salary

Other professional accountancy qualifications are available internationally, including CPA and ACCA. The CPA qualification is issued by the American Institute of Certified Public Accountants (AICPA). This qualification is recognized in the United States and mainly by US regional authorities. The ACCA qualification is awarded by the Association of Chartered Certified Accountants (ACCA). Under CA Singapore’s Transitional Rules 2013, existing ACCA members are allowed to attend the pre-admission course to qualify until 31 December 2018. However, as there is no mutual agreement on these qualifications, members must hold a similar charter in Singapore. As a diploma applicant, the accounting qualification should be CA Singapore.

Accounting Starting Salaries For 2023

Members of Australia and New Zealand (CA ANZ), Chartered Accountants Ireland (CAI), Institute of Chartered Accountants Scotland (ICAS) and Institute of Chartered Accountants in England and Wales (ICAEW) are recognized by mutual agreement. Singapore does not require a chartered accountant qualification.

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Unlike public sector occupations (such as teachers and nurses), accountants span the public and private sectors, meaning their pay depends on the individual employer.

In general, the average monthly starting salary for a new accounting graduate is about $3,000 for a 3-year degree program and about $3,000 to $4,405 for a 4-year diploma program from local universities.

Private Equity Salary

We can also look at MOM salary data to see how much accountants can earn in their careers.

The median salary for auditors and accountants in the 25th percentile is about $3,600 to $4,000. At 25 percent, these may be very low-paying positions.

However, the wage gap widens in the middle and 75th percentiles. This is not surprising, since an auditor who can sign the company’s audit documents must be a CA (Singapore) and meet ARCA’s requirements to become an accountant. It requires a high level of professional skills and experience, and the job is paid accordingly.

Senior Financial Reporting Accountant Salary

An accountant’s average monthly salary is around $4,500, while an auditor’s salary is $4,700. For those in the 75th percentile most likely to hold senior positions, an accountant earns about $6,000, and an auditor earns about $8,000.

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Note: Basic salary is calculated before the employee’s CPF contribution and personal income tax. This includes employer’s CPF contributions, bonuses, fringe benefits, commissions, allowances and other financial payments. Gross wages mean basic wages, overtime wages, commissions, allowances and other regular monetary payments. This includes employer and employee CPF contributions, personal income tax, bonuses, stock options and other lump sum payments.

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While MOM’s salary information is a useful reference, every employer pays differently and every employer has different activities that affect wages. So we can’t wait to use salary data to justify our employees’ salary increases.

However, there are some interesting observations from the wage data. The difference between the gross salary (which includes overtime, commissions and bonuses) and the base salary is very small. Thus, accountants should not expect salary, commissions or overtime pay.

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The large salary gap between accountants and auditors, especially at 75 percent, shows the importance of qualifications. An auditor must be a Singaporean CA and meet additional professional requirements established by ACRA to provide public accounting services, including auditing. High achievers in accounting can gain additional professional qualifications that enable them to take on well-rewarding auditing roles.

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Senior Financial Reporting Accountant Salary

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Money Why should we review our personal finances at least once? (I paid $99, but you don’t have to) Created in partnership with SkillsFuture Singapore and launched in August 2020, the Key Services 2020 Singapore Salary Guide shows which occupations include senior finance officers, regional HR managers and more. expect to take it home this year. These are the details below.

This year, the HR function has played an even more important role in addressing rapidly evolving organizational demands, such as managing remote work practices, managing disruptions, and developing return-to-work plans.

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The HR function, including C&B, training and recruitment, is expected to earn between S$2,300 and S$15,000 per month depending on role seniority and years of experience. Zooming in on the hottest HR jobs – An HR business associate with three to seven years of experience can earn between $4,300 and $11,500 per month, while an HR generalist/specialist with two to five years of experience can earn between $2,700 and $S can get $5. , 00 per month.

Meanwhile, a local HR manager with five to 10 years of experience can earn between S$6,500 and S$10,000 a month.

As companies are expected to rapidly adopt technology, accounting and finance professionals must be flexible and highly skilled. Important skills that professionals need to acquire include data mining, big data acquisition, and rapid interpretation. They may also consider choosing a programming language for statistical analysis or big data analysis to excel.

Senior Financial Reporting Accountant Salary

In addition to these hard skills, professionals in this field can focus more on staying current in the face of new technologies, for example by thinking more strategically to contribute to business initiatives.

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Accounting and finance professionals are expected to earn between S$2,100 and S$26,000 per month. An Account Assistant can earn between S$600 and S$4,300 per month, while an Accounts Assistant can earn up to S$2,100.

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