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.
By the end of this course, students will be able to do the following:
Leadership:
- Appreciate the value of experience and action-based learning that integrates understanding of major leadership paradigms and leadership theories from an inter-disciplinary perspective.
- Engage analytical, problem-solving & reasoning skills to critically appraise various theories and perspectives of leadership.
- Apply the various leadership traits and behavior as well as different leadership style such as charismatic & transformational leadership, principles of stewardship & servant leadership, collaborative, authentic leadership and other such recent leadership approaches in a VUCA world.
- Appreciate being open-minded & sensitive to individual differences and embrace uncertainties.
- Understand how leaders can set or influence the ethical tone by applying Kohlberg's model of moral development.
- Learn more about leadership through their group project work, class activities, readings, etc.
Teams and Groups:
- Understand major theories and perspectives of group dynamics and group leadership.
- Learn more about teamwork processes through working on a real-life group project with an industry or community partner.
- Throughout the group project students will learn to collaborate and employ innovative skills in using their expertise, knowledge to contribute to the needs of the partnering industry or community based organization.
- Understand different methods of communication and appreciate how to effectively communicate and manage conflict, if any, and learn to overcome challenges within their respective group as well as with their respective external stakeholders.
- Develop a detailed work schedule and strategies among teams, and understand how to form, lead and manage work teams.
- Acquire some level of resilience through self-directed and group-directed learning that includes embracing uncertainties, overcoming challenges, etc.
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.
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.
By the end of this course, students will be able to:
- Apply design methodologies to designs "things".
- Develop an understanding of how businesses can be "designed" using the same design methodologies in order to implement the designed "things".
- Develop an appreciation of how to create designs for broader and varying contexts, that is, to be sensitive to human, societal needs and the physical environment.
The overall objective of this module is to equip students with core knowledge of appreciating what it takes to plan, design, build and sustain (mega) cities that are innovative and sustainable and to know the challenges of successfully 'selling' new smart city concepts amidst increasing competition in this field.
By the end of this course, students will be able to appreciate the following 4 areas:
Taxonomy of Innovative & Sustainable Cities
- Describe the core characteristics of a Smart City and respective concepts
- Explain the unique characteristics of each component and how it adds value to innovative and sustainable (smart) cities
Design of Innovative & Sustainable Cities
- Understand the planning and design principles of Innovative & Sustainable Cities Explain the workings of each component of Innovative & Sustainable Cities
In-depth study of selected (Mega) Cities
- Be familiar with the challenges of selected mega cities around the globe and understand how the smart city concept can add value in terms of livability
Commercialisation of the Smart City Concept
- Appreciate the challenges in successfully commercializing smart city concepts and applications
- Know some of the key players in the Singapore context which are involved in this service sector and establish network contacts
By the end of this course, students will be able to:
- Assess a business problem and/or opportunity from the current business environment, including new and untapped markets
- Design interdisciplinary solutions to address the business challenge or future opportunities by considering strategy, marketing, operations, organization, finance, and communication
- Reason critically through the solution process with appropriate modes of analysis
- Describe the solution's implementation plans and processes with regard to the firm's existing strategy, market, and organization
- Apply a variety of approaches to engage with busy business executives to obtain guidance and information, as well as, secure their buy-in to your ideas
By the end of this course, students will be able to:
- Assess the topology of differences in operating environments across different countries of Asia and their implication for multinational strategy and operationalisation.
- Evaluate the source of a multinational's competitive advantages and its capability to exploit them in foreign markets
- Evaluate alternative strategies of a multinational to ensure sustained engagement across and within foreign markets
- Understand the role of the constituent entities that comprise the global operating model of a multinational
- Analyse the administrative structures of a multinational as to its ability to mediate the forward and reverse transfer of complex knowledge so as to sustain multinational commitment to foreign markets
- Appreciate the challenges and develop technique for working internationally within MNC cross-cultural teams
- Integrate learnings from other business and management courses into the international context as one devise a market entry solution for an actual company
- Most importantly, understand the different expectations between the protective bubble of university and the Real World of industry across a range of dimensions so you will have a greater probability of performing more effectively "out of the gate" when entering the workforce.
By the end of this course, students will be able to:
- Identify customer and beneficiary needs through prototyping
- Develop mock prototypes of their products or services
- Understand who are "lead users" or "early-evangelist" consumers
- Develop networking strategy to reach "lead users" or "early-evangelist" consumers
- Develop simultaneous trials to get feedback from "lead users" or "early-evangelist" consumers
- Understand the drivers of roles and incentives for a new business team
- Know when to pivot a new business idea
- Understand how to outline a business and revenue model for an early stage idea
- Present their market-validated new business idea to investors and industry experts
Objectives:
- To understand the factors that lead to persistence of poverty and under- development in the empirical context of Asia.
- Learning how to examine the evidence on policy relevant interventions. This will involve looking at tables with statistical output. By the end of the course you should be more comfortable making inferences based on statistical output that is presented to you.
- To develop and sharpen your analytical and presentation skills by partic- ipating in class discussions.
- To acquire an appreciation of the issues involved in designing and evalu- ating developmental policies.
- To learn about a real social service agency (MINDS) and the challenges involved with impact evaluation when it comes to such agencies. The report you prepare as part of the project will have a real impact on their funding and operations.
