Graduate Studies Blog
MSC ACCOUNTANCY
Embracing Technology In Accounting With The MSc Accountancy Programme
Today, the accounting industry is on the verge of an AI revolution. From tax to audits, AI-powered tools are rapidly automating many rote tasks that accountants used to do. Up to 48% of accountants say they plan to invest in AI and automation tools over the next year to become faster, sharper, and more efficient in supporting clients. Those who don’t risk being left behind.
“When I think about myself 10 years from now, I don’t want to be just an accountant,” said Darshini Krishna, a current MSc Accountancy (MACC) participant at Nanyang Business School (NBS). “To make sure that I’m not redundant, I’d like to be able to deploy technology and evolve together with the industry. I want to be a part of the AI revolution in my field.”
Darshini sought a way to close her knowledge gap between accounting and technology, and she found the right bridge in NBS’s MACC programme. She recounted her prior experience at a Big Four accounting firm, which inspired her to embark on further studies, and how she has grown through her journey at NBS.
Technology as an ally to accountants
After graduating with a Bachelor of Commerce in 2020, Darshini landed a role as a tax consultant at Deloitte’s US-India Offices. There, she advised clients on tax strategies and liaised with foreign tax authorities to expedite certificate issuance.
In the course of her work, she began to realise that technology could be a game-changer for her productivity. “During my undergraduate studies, we weren’t taught about how AI and analytics could be applied to accounting,” she reflected. “Even at a Big Four firm like Deloitte, there wasn’t a lot of scope to use technology to enhance our procedures.”
Darshini believed that knowing the right set of analytical tools would accelerate her efficiency by “10 times or even 100 times” – giving her more time to focus on meaningful tasks like decision-making. “The accounting industry isn’t growing as fast in terms of technology compared to other fields,” she observed. “Instead of viewing technology as a threat, we need to start thinking of it as a tool or ally.”
Speaking to other professionals at networking events sparked Darshini’s desire to upskill herself. “Many of them highlighted a gap between accountants and technicians. There’s up-and-coming demand for people who have a background in both coding and accounting,” she shared. “I want to be someone who can fill this gap and translate between the two areas.”
Levelling up with a Data Analytics specialisation
Darshini set her sights on the MACC programme at NBS to hone her technological skill sets. The curriculum stood out to her with its diverse courses, ranging from risk management to business analysis, and equity valuation.
Most importantly, the programme featured a unique Data Analytics specialisation. During this optional trimester, participants can gain insights into cutting-edge technologies like AI in Accounting and Finance, Blockchain for Business, and Audit Analytics. “This was a big reason why I chose NBS, as I wanted to learn how to apply data analytics in accounting,” she said.
Looking back on her first trimester at NBS, Darshini thoroughly enjoyed her classes. “I generally get sleepy during classes, but I don’t think I’ve ever felt sleepy here!” she joked. “You can see how much experience the professors have, and I like how they use case studies to give our lessons a lot of practical relevance.”
In particular, she had fond memories of her Management of Legal Obligations in Business module, led by the “bubbly and joyful” Professor Valerie Du Toit-Low. “I didn’t expect to enjoy law, but she made it interesting with a lot of practical and relatable cases. For example, suppose you’re eating at a hawker centre, and you get food poisoning, how can you deal with it?”
Darshini also shared that all her professors have been highly approachable even after class. “I could always approach them to ask questions, or just chat with them about my career interests. Every professor has been kind enough to help me out.”
A stronger understanding of cultural diversity
Having lived and studied in India for most of her life, it’s Darshini’s first time in Singapore. While Singapore’s “hustle culture” came as a surprise to her, it has motivated her to become a lot more active.
“Everyone is always doing something here, whether it’s sports, adventures, or academics,” she laughed. “In India, I was more of a ‘lazy person’, but I’ve ended up doing some adventure sports and going to more events here.”
Another big change for Darshini was having coursemates of diverse nationalities in the MACC programme. While initially nervous about connecting with her coursemates, the orientation activities arranged by NBS before the start of the term helped ease her mind. “We had fun activities like singing songs and doing funny poses for a photo shoot, which helped me to break the ice with my coursemates.”
During assignments and group work, the diverse perspectives of her coursemates have exposed Darshini to different ways of solving problems. She believes this understanding of cultural diversity will be invaluable in her future career.
“I plan to work in Singapore, which is a global financial hub,” she said. “I’m developing a global mindset that will prepare me to work with people of different cultures and nationalities.”
Taking on the tech-enabled future of accounting
When asked about her career plans after graduation, Darshini revealed her hopes for a change from her tax consulting role.
“Tax is a field where you largely follow set processes. I want a role where I can apply my analytical knowledge and help in decision-making, and the MACC programme will help me grow towards this.”
While she did not have a specific career path in mind, she anticipated that her MACC journey would help her gain clarity. “I’m gaining a stronger knowledge base in various fields, from law and audit to financing and consulting,” she explained. “I’m also looking forward to the module on Forensic Accounting as a potential career path.”
The MACC programme’s technological focus and diversity of subjects, she believes, will have enduring relevance for her career – whether in accounting or beyond. Her advice to aspiring candidates is to go in with an open mind.
“Learning about technology will give you an edge over traditional accountants, as you’ll be able to enhance your work and provide insights that companies are looking for,” she said. “Even if you don’t want to go into accounting, the MACC curriculum offers a wide range of subjects integrated with technology and analytics. This knowledge can help you open doors to so many different roles.”
