Graduate Studies Blog

MSC ACCOUNTANCY

AN ACCOUNTANCY DEGREE POWERED BY DATA SKILLS FOR THE POST-PANDEMIC WORLD

Recognising the need to be forward-thinking

Debashish Maity was working as a tax senior in Bangalore, the “Silicon Valley of India”, when he yearned to deepen his knowledge in accountancy while seeing more of the world. He says:

“Since 2018, I’ve been planning to pursue a specialised master’s degree programme. I aim to stay relevant in two ways: by keeping up with the transformations taking place in the industry and by gaining more global experiences.”

Then, COVID-19 happened. The pandemic caused great uncertainty, making many potential candidates, including Debashish, to reconsider plans for further studies.

However, after weighing the pros and cons, Debashish felt more convinced than ever to embark on the  MSc Accountancy programme with the Nanyang Business School (NBS). In June 2020, he materialised the dream plan that he has held on to for two years.

Getting ready for trends fuelled by the pandemic

COVID-19 has escalated major tech trends. These include automation and Artificial Intelligence (AI) to solve the world’s pressing challenges and workforce difficulties. Debashish discerned that he had to upskill himself quickly for the post-pandemic world:

“Overnight, COVID-19 changed many things. It convinced me to start on the MSc Accountancy programme as soon as possible. Before the pandemic, the finance industry was changing slowly alongside emerging analytics and automation trends. Now, the pandemic has catalysed the need to ride on these trends, and companies are compelled to take bolder, faster, and more concrete steps to adopt new technologies.”

The Big Four accounting firms –  Deloitte, PricewaterhouseCoopers, KPMG and Ernst & Young (where Debashish has worked in) – have already started implementing analytics in their audit and tax services. This has led to the recent development of the audit analytics and tax analytics fields, creating demand for accountancy and tax professionals with data skills.

Debashish says that such professionals can be rare in the market. He hopes to meet the demand with the competency gained from the MSc Accountancy programme. He says:

“Nanyang Business School has been ahead of the curve in identifying industry trends. For example, the programme has Data Analytics and Forensic Accounting modules. Graduates who acquire these skills will be much more employable in the post-pandemic job market.”

As the world becomes more data-driven, the finance industry will also be on the lookout for graduates who are comfortable with big data, he says. Debashish believes that NBS is capable of preparing students for this ‘brave new world’ – otherwise known as the new normal.

Being agile in an age of uncertainty

Debashish points out that embarking on a Master’s degree programme is not without its uncertainties.

First, 2020 has already proven itself to be a year of surprises. “It is a watershed year,” he says, “where industries and job markets around the world are radically reshaping themselves.” What he can feasibly manage amid these uncertainties, Debashish adds, is the value of his knowledge and skills. He explains:

“With my experience in the Big Four and the knowledge gained from the MSc Accountancy programme, I hope that I can increase my potential as a valuable employee for any organisation in the market.”

Having close to eight years of working experience, Debashish also knows that his decision to further his studies may seem, to others, like a disruption to his career progression. “However, the programme can value-add to my career in so many ways, for example getting industry updates, making connections, and discovering new opportunities,” he says. “I see it as a stepping stone.”

Finally, Singapore, with its limited natural resources, is known for its resilience in times of uncertainty. “I’m confident in Singapore’s ability to overcome the challenges and remain one of the most vibrant economies in Southeast Asia,” Debashish says. With NBS firmly rooted in a global city familiar with addressing adversity, Debashish can look forward to acquiring skills not just in accountancy and analytics, but also in the art of survival.