The course aims to achieve the following objectives:
• Real-world problem solving through student consultancy project
• Apply classroom learning and research to real-world challenges in order to envision solutions for an intelligent accounting function
• Understand the changing role of finance function
• Understand how to simplify, streamline and harmonize essential finance processes to create a leaner, more efficient finance function
• Learn how to use a data visualization tool
• Experiential and peer-learning
• Active mentoring by faculty and project sponsors
• Learn how to handle uncertainty in a project
The course aims to achieve the following objectives:
• Real-world problem solving through student consultancy project
• Apply classroom learning and research to real-world challenges in order to envision solutions for an intelligent accounting function
• Understand the changing role of finance function
• Understand how to simplify, streamline and harmonize essential finance processes to create a leaner, more efficient finance function
• Learn how to use a data visualization tool
• Experiential and peer-learning
• Active mentoring by faculty and project sponsors
• Learn how to handle uncertainty in a project
This SMU-X course offers an experiential learning opportunity that allows students to translate classroom knowledge and theory into practical solutions for real organizations. Through this student consultancy project, students learn how to solve complex business problems with guidance from the faculty and project sponsor mentors, from problem definition to final client presentation - while simultaneously testing their skills in real world settings. The course will focus on examining accounting processes and applying data-driven analytics and insights so as to identify and create accounting delivery efficiencies.
The course aims to achieve the following objectives:
- Real-world problem solving through student consultancy project
- Apply classroom learning and research to real-world challenges in order to envision solutions for an intelligent accounting function
- Understand the changing role of finance function
- Understand how to simplify, streamline and harmonize essential finance processes to create a leaner, more efficient finance function
- Learn how to use a data visualization tool
- Experiential and peer-learning
- Active mentoring by faculty and project sponsors
- Learn how to handle uncertainty in a project
The Deloitte project focused on exploring the changing roles of auditors and examined ways to simplify, streamline and harmonise essential audit process with Artificial Intelligence (AI). Students had to envision how the future of audit and the profession may change as the traditional roles are transformed with AI, to become more efficient, strategic and catalytic. Requiring audit, AI and business knowledge, coupled with active mentorship from the course instructors and Deloitte representatives, students researched and recommended accounting processes that could be simplified and streamlined, which include rethinking how structures and skills could evolve within the audit profession.
Students designed an efficient business intelligence tool that succinctly presents the company's key performance indexes and other relevant data points crucial to the organisation's management and the various business unit for better decision making.
Aspiring to expand the business further regionally with specific challenging targets, Seng Hua Hng (SHH) commissioned the SMU students to build in-house data analytics capability to help the company achieve its strategic goals. SHH previously would rely on ballpark estimates to make key strategic decisions such as to determine annual production capacity. The key challenge of utilizing ballpark estimates was the lack of accurate demand forecasting on a periodic basis and the absence of important financial information that would support the risk assessment of expansion into new foreign markets. Students also leveraged on predictive analytics to find valuable insights such as expansion plans for both domestics and overseas, new product introduction possibility and better estimation of future financial targets.
The SGX project is focused on the process of collection of data from both mainstream and social media sources, in efforts to help investors stay on top of the latest industry developments. Students devised a standard operating procedure that helped to reduce total man-hours and improve the process accuracy of SGX's systems over time.
Students recommended a suitable methodology to measure members' engagement score, using the existing data available and propose additional data points relevant to track engagement. Students also developed a predictive tool to identify the profile of their members who would be most prone to dropping out.
The purpose of this course is to provide participants with a sound foundation of internal concepts, principles and practices. It provides an overview of internal audit in the context of governance, risk management and business practices. Professional promulgations by the Institute of Internal Auditors serve as the foundational references for the course. These include the attributes of internal audit, planning, execution and reporting. More importantly, the course will deepen students' understanding and appreciation of internal audit with real world industry illustrations and sharing of professional internal audit engagements.
At the completion of this course, students are expected to be able to:
- Relate internal audit to corporate governance and risk management.
- Understand the concepts and principles of internal audit.
- Apply techniques to capture and analyse the external and internal environments of an organization.
- Perform risk based internal audit engagement in relation to planning, execution and reporting.
- Understand the professional ethics and relevant skills required in internal audit.
With the internal audit profession facing major disruptive forces from many fronts, students proposed strategies to better future-proof the internal audit profession.
All School of Accountancy courses are designed to meet certain learning goals and objectives. Some learning goals are addressed at course level, some at program level. This course specifically contributes to the development of the following course level learning goals:
- Our students can recognize, develop, measure, record, validate and communicate financial and other related information.
- Our students can analyze, synthesize and evaluate financial and other related information for decision making in a management context.
- Our students understand and can apply business concepts and principles.
- Our students can communicate effectively in a business context.
- Our students understand the principles of leadership and team building in a business context.
- Our students can recognize and incorporate ethical and social responsibility considerations in decision making.
Students are expected to demonstrate the following technical abilities upon completion:
- Understand and able to choose among different incorporation options available to entrepreneurs, in particular the incentives, income tax and corporate tax implications in Singapore.
- Understand the general terms on financial statements without going through detail double entries and to apply them to real businesses.
- Compute simple ratios and make inferences based on reasonable examination of financial statements, which are critical for business and funding purposes.
- Understand and be able to manage critical factors which include short and long-term financialplanning, pricing of products, and managerial planning and control systems for small businesses as well as new start-ups.
- Understand the increasing relevance of recent trends, such as: sustainability accounting; and how it affects the bottom line for entrepreneurs.
- Appreciate the importance of having good business ethic.
In addition, learning outcomes should be beyond just technical proficiencies. In particular, this course seeks to develop certain skills and attributes.
- Analytical: Analytical skills will be developed through various problem solving and case analyses. The course will provide the tools for students to use and analyse accounting data, financial reports and information to make informed decisions.
- Communication: Students will be required to actively participate in the class discussions and through written report and discussion of the company analysis project.
- Team work: Team projects, discussions and presentations will be important elements of the course. All students will be required to work in teams. They are expected to work as partners and share the work load.
- Active learning: Students will be expected to venture beyond prescribed readings and text. The company analysis project will allow students to take an active role in their understanding of how the end products of an accounting system serve information need of users.
- Professional ethics: Ethical issues are discussed and cases will be reviewed. This introductory course provides the opportunity to emphasize the needs for the highest ethical behaviour for corporate executives and corporations.
Students performed an in-depth market analysis on the potential needs of customers within the vicinity of the new and existing locations, as well as a business strategy for the business.
Students identified specific opportunities, gaps, threats and target markets that the service offerings can exploit based on the competitor analysis -- including possible new product mix or pricing strategy. Students also devised a business strategy for the business, including budgeting and profitability analysis.
This course contributes to the development of the following learning goals:
- Our students can recognize, develop, measure, record, validate and communicate financial and other related information.
- Our students can analyze, synthesize and evaluate financial and other related information for decision making in a management context.
- Our students understand and can apply concepts relating to business processes, audit and assurance.
- Our students can communicate effectively in a business context.
- Our students understand the principles of leadership and team building in a business context.
- Our students understand and can apply the ethical principles relevant to accounting professionals.
Students are expected to demonstrate the following technical accounting competencies upon successful completion of this course:
1. Identify the relevant flows of transactions (processes) and the relevant IT environments.
2. Understanding IT Environment, IT controls and testing the IT controls.
3. Testing General IT Controls ("GITC") and testing approach of such controls.
4. Understanding concept of segregation of duties and functioning of interfaces between application systems.
5. Documentation of reports and process/procedure on handling exceptions.
6. Technology Regulations and its assessment procedures.
Students presented their case assessments provided by Deloitte (which are the actual cases they handled) and outline their solutions, recommendations and approaches, which are assessed by Deloitte professionals/ mentors.
This course contributes to the development of the following learning goals:
- Our students can recognize, develop, measure, record, validate and communicate financial and other related information.
- Our students can analyze, synthesize and evaluate financial and other related information for decision making in a management context.
- Our students understand and can apply concepts relating to business processes, audit and assurance.
- Our students understand and can apply business concepts and principles.
- Our students can communicate effectively in a business context.
Students used data analytics to work on the audit of different areas of the company.
This SMU-X course offers an experiential learning opportunity that allows students to translate classroom knowledge and theory into practical solutions for real organizations. Through this student consultancy project, students learn how to solve complex business problems with guidance from the faculty and project sponsor mentors, from problem definition to final client presentation - while simultaneously testing their skills in real world settings. The course will focus on examining accounting processes and applying data-driven analytics and insights so as to identify and create accounting delivery efficiencies.
The course aims to achieve the following objectives:
- Real-world problem solving through student consultancy project
- Apply classroom learning and research to real-world challenges in order to envision solutions for an intelligent accounting function
- Understand the changing role of finance function
- Understand how to simplify, streamline and harmonize essential finance processes to create a leaner, more efficient finance function
- Learn how to use a data visualization tool
- Experiential and peer-learning
- Active mentoring by faculty and project sponsors
- Learn how to handle uncertainty in a project
The Deloitte project focused on exploring the changing roles of auditors and examined ways to simplify, streamline and harmonise essential audit process with Artificial Intelligence (AI). Students had to envision how the future of audit and the profession may change as the traditional roles are transformed with AI, to become more efficient, strategic and catalytic. Requiring audit, AI and business knowledge, coupled with active mentorship from the course instructors and Deloitte representatives, students researched and recommended accounting processes that could be simplified and streamlined, which include rethinking how structures and skills could evolve within the audit profession.
Students designed an efficient business intelligence tool that succinctly presents the company's key performance indexes and other relevant data points crucial to the organisation's management and the various business unit for better decision making.
Aspiring to expand the business further regionally with specific challenging targets, Seng Hua Hng (SHH) commissioned the SMU students to build in-house data analytics capability to help the company achieve its strategic goals. SHH previously would rely on ballpark estimates to make key strategic decisions such as to determine annual production capacity. The key challenge of utilizing ballpark estimates was the lack of accurate demand forecasting on a periodic basis and the absence of important financial information that would support the risk assessment of expansion into new foreign markets. Students also leveraged on predictive analytics to find valuable insights such as expansion plans for both domestics and overseas, new product introduction possibility and better estimation of future financial targets.
The SGX project is focused on the process of collection of data from both mainstream and social media sources, in efforts to help investors stay on top of the latest industry developments. Students devised a standard operating procedure that helped to reduce total man-hours and improve the process accuracy of SGX's systems over time.
Students recommended a suitable methodology to measure members' engagement score, using the existing data available and propose additional data points relevant to track engagement. Students also developed a predictive tool to identify the profile of their members who would be most prone to dropping out.
The purpose of this course is to provide participants with a sound foundation of internal concepts, principles and practices. It provides an overview of internal audit in the context of governance, risk management and business practices. Professional promulgations by the Institute of Internal Auditors serve as the foundational references for the course. These include the attributes of internal audit, planning, execution and reporting. More importantly, the course will deepen students' understanding and appreciation of internal audit with real world industry illustrations and sharing of professional internal audit engagements.
At the completion of this course, students are expected to be able to:
- Relate internal audit to corporate governance and risk management.
- Understand the concepts and principles of internal audit.
- Apply techniques to capture and analyse the external and internal environments of an organization.
- Perform risk based internal audit engagement in relation to planning, execution and reporting.
- Understand the professional ethics and relevant skills required in internal audit.
With the internal audit profession facing major disruptive forces from many fronts, students proposed strategies to better future-proof the internal audit profession.
The purpose of this course is to provide participants with an appreciation of business and investment opportunities in Indonesia, and an understanding of its social, cultural, economic, and political landscape.
At the same time, this is an SMU-XO module, which offers an overseas experiential learning opportunity for students. The course allows students to translate classroom knowledge and theory into practical solutions for real organizations. In addition to visits to companies and organizations, student will also participate in a consultancy project. Through the project, students will learn how to solve business problems with guidance from the faculty and project sponsor mentors, from problem definition to final client presentation - while simultaneously testing their skills in real world settings.
The project will focus on evaluating problems faced by the accounting/finance and other functions of one company in Indonesia and recommending/applying solutions to these problems. The course qualifies for one credit unit and encompasses seminars, guest lectures and presentations all held in Singapore.
Grading is on a Pass/Fail basis
At the end of the course, participants are expected to:
- Develop a better understanding of the Indonesia economy, key industries (especially technology related, financial and banking sectors, capital market, and regulatory and tax regime.
- Gain an insight into business and investment opportunities in Indonesia.
- Solve real-world business problems through a student consultancy project.
- Learn how to handle uncertainty in project groups.
- Develop networking, and other life skills by interacting with business leaders.
Students conceptualised a real-time (with monthly updates) employee performance tracking tool across the 6 different functions. The output was in the form of a dashboard designed using visualization software, which provided insight for top management to encourage and reward efficient behavior and top performers.
To facilitate better decision-making in the Business Banking Sales Performance Management, students designed a dashboard analysis for their senior management, provided a benchmark scorecard model from other emerging business banks, and proposed a new KPI model that is more encouraging, more achievable and more effective for sales people to achieve bank targets.
To digitally transform the business of their wholesale banking services, students conducted cross-comparison studies on the cutting-edge practices in digital transformation done by banks around the world (including Asia) on wholesale banking. In addition, students explored the accounting implications of having more developed systems, and devised feasible recommendations on what they could or should do in terms of digital transformation for the wholesale banking division.
Students provided perspectives on how to penetrate the education industry even further with the end goal of increasing customer base as well as creating stickiness. In addtion, students proposed business plans on how the project organisation could penetrate the education industry even further by penetrating its customer's supply chains and ecosystem, both from retail and business perspectives.