I. Description of Course
Bachelor of Science in Accountancy is a college course that prepares students who are interested in the different fields of accountancy, examples of which include governmental, corporate, or small business accounting. In this college program, the students are taught the necessary skills and techniques needed to make a good accountant.
II. Cost of Education
Depending upon the school, the cost of this college program per semester ranges anywhere from P22,000 to P51,000. However, the University of the Philippines though utilizes the socialized tuition system. What this means is that the cost of the education depends upon the household income.
III. Top Universities for Course
The university with the highest passing rate in the CPA Licensure Examinations is De La Salle University with a passing average of 87.20. University of the Philippines (Diliman), has a passing average of 79.16; while University of Santo Tomas has a passing average of 78.85. These are only the top three universities in BS Accountancy, so for a list of the top 11 accounting schools and their passing averages, follow this link.
Skills and Factors:
I. Skills/Physical Attributes
Because an accountant deals with money, here are the physical attributes needed for the job.
- You should have high ethical standards and integrity.
- You should be able to work professionally with people.
- You should be able to make a judgment ethically and independently.
As for the skills needed in the job, you should the following skills:
- You should be skilled in mathematics.
- You should be skilled in the use of computers and accounting software.
- You should not only be skilled in analyzing, evaluating, and interpreting financial data and figures, but you should also be able to do it quickly and efficiently.
As an accountant, your responsibility is to collect and analyze the financial data needed for the financial reports. Aside from this, it is your responsibility to prepare the profit and loss statement, balance the figures, and summarize the financial status of the company. Lastly, it is also your task to audit contracts as well as orders and receipts.
Career Outlook and Global Demand:
I. Global Demand
There is both local and global demand for accountants; after all, the more local businesses and companies, the higher the needed for licensed accountants. As for global demand, there are foreign companies that outsource or contract out their accounting departments. You could also apply for an accounting job based abroad.
II. Expected Salary
The starting salary of an accountant in a government office generally earns about P15,000 per month, with the chief accountant earning as much as P25,000 monthly. However, for those who are working in private companies, the salary is higher at about P25,000 monthly to P35,000. If you land a job with multinational companies, then you can earn as much as P50,000 monthly to even P75,000.
III. Opportunities for Advancement
From an accountant, you could easily advance to senior positions within a couple of years, maybe even less. From there, you could become a manager, chief accountant, or maybe even the vice president for finance. There are big opportunities or advancement in this career.