Accounting as we know is the system of keeping the financial report of any entity in the form of text and numbers that are called financial statements. It gives us the opportunity to track assets, liabilities, profitability, debts and flow of cash. Accounting is self-regulated for the users of financial information who are called as stakeholders, lenders, business owners, customers, employees, and managers. These stakeholders use it for making decisions on investment and business planning. Accounting can be done in two ways 1. Private accounting 2. Public accounting Where Private or internal accounting refers to accountants who work for a single organisation or entity. The task they perform is preparing the records I;e bookkeeping and bank reconciliations. These tasks can be performed easily with audit firms in Singapore . Generally, accounting professionals are divided into three fields. Tax, Audit services and Advisory. Federal state and local tax filings are genera...