MSC ACCOUNTANCY

Associate Professor Choo Teck Min on the MSc Accountancy Programme’s New Data Analytics Specialisation

Nanyang Business School, part of Nanyang Technological University, Singapore, is launching the Data Analytics Specialisation for the MSc Accountancy (MACC) programme for the upcoming intake in July 2022.  Technology is rapidly transforming the finance and accounting landscape.  With repetitive and routine accounting tasks increasingly being automated with the use of AI and robotics, accounting professionals need to acquire new skillsets to meet the changing industry needs. Understanding and leveraging emerging technologies such as blockchain, AI, and data analytics in accounting and finance is fast becoming essential for accounting professionals who wish to further specialise in domains that require strong data analytics skills. 

Associate Professor Choo Teck Min, Academic Director of the MACC programme shares the highlights of the new specialisation, and how students can benefit from the deeper training in Data Analytics for accounting.   

Question: What do you think are the key trends in the accounting industry and what are the skillsets that would be needed?

The accounting and audit profession has undergone substantive disruptions in recent years with the adoption of technologies such as blockchain, data analytics, machine learning, data mining, and robotic process automation. In the area of auditing for example, auditors instead of sampling can now audit the whole population of given data using analytics and focus their attention on the outliers generated.

Graduates need to have strong technology skills as accounting and audit work reap productivity gains from the increasing use of analytics and technology. They need to be able to communicate their data requirements to computer science professionals and also be able to interpret the data and information that is produced.

Question: Can you share with us what students can expect from the Data Analytics specialisation?

Students who wish to take up the data analytics specialisation will spend an additional trimester covering five modules.  The modules in the specialisation are:

• Designing and Developing Databases
• Analytics: Visual and Predictive Techniques
• AI in Accounting and Finance
• Audit Analytics
• Blockchain for Business

On top of our usual full-time one-year curriculum, they will now complete the programme in 16 months over four trimesters with the add-on of the specialisation.  The cost of taking on the specialisation is an additional S$15,000 (excluding GST).  We did not make any changes in our curriculum for the first three trimesters so that our graduates still get to enjoy the exemptions given by the professional accounting bodies, and can fast-track their professional accounting qualifications.

Question: What roles do you expect the graduates to enter upon graduating with the specialisation?

With the new skillsets provided by the specialisation, I expect our graduates to have wider career opportunities and to take on technical roles that require in-depth data analytics knowledge such as the Data Analytics team in the Big 4 audit firms.  In the longer term, I expect our graduates with this specialisation to be better positioned for an upward career trajectory with the ability to navigate the challenges and opportunities posed by technology.

Question: Who would be suitable for this specialisation?

We welcome candidates from all disciplines, and especially if you like working with numbers and are analytical. You should be comfortable with learning basic programming and have a good foundation in quantitative methods.  Candidates can choose to opt for this specialisation on the online application for the MACC programme. Places in the data analytics specialisation are limited and early application is highly encouraged.

If you are interested in this specialisation, I encourage you to reach out to our programme lead to find out if your profile is a good fit.

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