Learn from a Master degree graduate about Principles of Accounting and business modules.
More than 10 years tutoring Secondary and Tertiary students in subjects such as Accounting, Economics, Business Statistics, and Finance!
Principles of Accounts Tuition
Understanding the Principles of Accounts (POA)
Principles of Accounts (POA) has nothing much to do with maths. Yes, this might come as a surprised for some. Principles of Accounts (POA) do not require you to have much maths knowledge except for simple maths rule of addition, subtraction, division, and multiplication. This is something you would had learnt in primary school. Then what are principles of accounts (POA) all about?
Principles of Accounts (POA) is about understanding the concepts rather than memorizing formulas. There are a couple of formulas and formats in Principles of Accounts (POA) but memorizing it will not bring you far in it.
We had all learnt about Principles of Accounts (POA) concepts since young and in our daily life applying it. When we save up money to buy something that we very much want, we need to calculate how much we need to save as savings after deducting expenses (money spent on that USS Sentosa theme park or on that fast food meal) from our income (Allowance from parents or salary from part-time work). Any positive savings would mean that we made ‘Profits’ and this could be added up as ‘Retaining Earnings’ for us to buy the item that we want.
This is what Principles of Accounts (POA) are all about. It is how we determine the profits or loss we are making and establishing the current financial status we are at. Instead of measuring it from an individual point of view, we are doing it for a business or company. It gets a bit complicated nonetheless compared to your simple favourite item purchase but the basic concept remains the same.
My method of teaching Principles of Accounts (POA) is to relate these basic concepts to your everyday life and you will soon see that there is not much difference in what you are doing every day compared to the theories you are reading. Through practices as well, you will then realized that Principles of Accounts (POA) is one of the easiest subjects in N or O levels because it is consist of only concepts coupled with addition, subtraction, division, and multiplication!
Let’s learn Principles of Accounts (POA) together and enjoy the learning process!
A levels Principles of Accounts (POA)
There is not much difference between O and A levels Principles of Accounts (POA) course materials during the 1st year of A levels Principles of Accounts (POA) studies. During the 1st year, A levels Principles of Accounts (POA) will learn about the basics of Principles of Accounts (POA). During the 2nd year, they will learn about additional topics like cash flow statements, job costing, cost volume profit analysis, and many other more topics. During the 3rd year, the student will then focus on revising and getting the hang of doing all the accounts learned in the first 2 years. This is what the course structure is like normally for A levels Principles of Accounts (POA).
A levels Principles of Accounts (POA) Tuition - For those who done Principles of Accounts (POA) during secondary schools
If you have done Principles of Accounts (POA) during secondary schools, you are better off than those who had not done it obviously. So, the structure of learning will focus more on revising the past concepts at the on start. The challenging part to learning Principles of Accounts (POA) at the A levels standard is that Principles of Accounts (POA) learned in secondary schools adopts the row format but the Principles of Accounts (POA) at the A levels standard adopts the T-format. Other parts which are different also lies in suspense account which is not taught in O levels syllabus.
Once the basics Principles of Accounts (POA) are learned well, you will then be taught in more advance 2nd-year topics and of course, lots of practice to make it perfect!
A levels Principles of Accounts (POA) Tuition - For those who HAD NOT done Principles of Accounts (POA) during secondary schools
If you had NOT done Principles of Accounts (POA) in secondary school, fret not! It does not mean that you cannot learn Principles of Accounts (POA) as well as those who did it before. The structure of learning, in this case, will focus more on getting you to understand the basics of Principles of Accounts (POA) first and practicing the basics until you can grasp it at the tips of your fingertips. Concepts like double entries, income statements, and balance sheets will be taught at this stage. This learning phase will usually be longer as you had not been exposed to Principles of Accounts (POA) before.
Once the basics Principles of Accounts (POA) are learned well, you will then also proceed to learn all of the rest of 2nd-year topics and again lots and lots of practice to be perfect!
Diploma and Degree Tuition
Financial Accounting refers to the process of tracking the company's financial transactions in order to prepare financial statements. The main users of financial statements are external users like shareholders, customers, suppliers and banks for loan assessment purposes.
Usually, we will need to learn the basics of financial accounting such as
- Accounting Principles
- Booking Keeping Basics
- Accounting for Fixed Assets
- Bank Reconciliation
- Inventory Accounting
- Financial Ratios
- Preparation of Financial Statements
Managerial Accounting refers to the preparation of financial information NOT for external users but for internal users like managers for decision making process. Thus, this will implied that information used in managerial accounting are sensitive information and cannot be disclosed to the public or external parties. Some of the sensitive information consist of cost structure of the company.
Usually, we will need to learn the basics of managerial accounting such as
- Cost Accounting
- Activity Based Costing
- Contribution Margin
- Process Vs Period Costing
- Job Costing
- Variance Analysis
- Horizontal and vertical Analysis
- Statement of Cost manufactured
- Time value of Money
- Capital Budgeting
- Bond Valuation
- Equity Valuation
- Cost of Capital
- Capital Structure
- Capital Asset Pricing Model (CAPM)
- Portfolio Diversification
- Efficient Market Frontier
Our finance tuition will normally start with explaining financial jargons and financial instruments like basic knowledge of how a bond works. This is especially useful for students or working adults who are not verse in financial knowledge. Once these are understood, it is then important to understand the concept of Time Value of Money.
What is time value of money?
Time value of money relates to the value of money that changes over time. Think about this: - Will you want to receive a dollar now or a dollar at the end of the year? Under all the normal circumstance, one will definitely say now! This is because it is better to receive money now then to have it later simply because you perceive the value of that dollar to be higher now than at a later date. This is time value of money.
It is important to understand fully the concept of time value of money during finance tuition as it is paramount to a lot of other finance topics which we will be learning later.
Application of finance concepts will also be done to strengthen your knowledge on the subject during the finance tuition. After all the finance tuitions done, you will then realized that finance is not rocket science and whatever the different names given to all the topics actually all fall back on the most basic principle in finance – Time value of money!
Statistics is the study of the collection, analysis, interpretation, presentation, and organization of data. Why then do we use statistics in business? Well, it can help us in the understanding of trends in specific markets that we are exploring and to help us to extrapolate trends into the future so that we can do prediction. The usually topics in business statistics are
- Standard deviation
- Z Statistics
- T Statistics
- Hypothesis Testing
- One tailed Test
- Two tailed tests
- Paired Tests
- Confidence Intervals
- Chi Square
- Liner Regression and Correlation
Our statistics tuition will be structured so that you not only know how to calculate but to understand what the different test is all about and the reason you are doing these tests. In statistics, it is important for you to understand as different tests are using for situations.
It is usually asked among working adults how statistics can be used in the real working situation. Let’s give a simple scenario. Suppose you are working for a tourism company and would like to know the average spending power of a country, let’s name it country A. You will do up a survey to gather all data of the income of the citizen sampled. Take not that I am not talking about all of the citizens but only a small sample. (You don’t have the time to do a census!) You then calculate the average income from that sample. This average is a very simple statistics which you just obtained.
Then, you can do other tests to the data you obtained and find out how true is this average. This is what the rest of the topics of hypothesis testing is all about. In a nutshell, it strengthens your understanding and set your reliability on the set of data which you obtain, which then you can rely on it and make a good business decision upon it. This, my folks, is statistics.
What my A-Levels, Diploma and Degree Students Say
“Able to simplify difficult business concepts in an easily understood manner”
Learning POA from Felix since secondary school until a current student in NYP, he had helped me to understood difficult modules from Auditing and Assurance, Economics, Statistics to International Treasury. Over the years, we had developed from a tutor-tutee relationship to more as friends.
Ng Qi Zhong
Diploma in Accountancy and Finance
Current Nanyang Poly Year 2 student in 2019
“Helped me cleared my module”
I was introduced to Felix after I failed my final exam in 2018. I had only 1 week with him before my supplementary papers for accounting. In that 1 week, we did a crash course on accounting which he tried very hard to help me by having intensive long hours of coaching on that subject EVERY DAY. I was able to pass that module and till date, I am still tutoring with him on a weekly basis.
Diploma in Management Studies
Current Singapore Institute of Management Year 1 student in 2019
“Made things easier to digest”
I learned from Felix since my days in secondary school from POA sessions till now Year 2 in Singapore Poly. He was able to explain difficult financial concepts to me and explain the underlying basis for the concepts in order for me to appreciate finance better. We are now more friends than tutors and students.
Diploma in Banking and Financial Services
Current Singapore Poly Year 2 in 2019
What my secondary students say
“Achieved top student in my Secondary School for the national exam”
Under the guidance of Felix, I was able to improve from Cs to A1 within less than a year. Through his hard drilling of tough questions, I become the top student in my cohort for the Year 2017 GCE Sec 4 N level POA paper. I was given cash and certificate award for it.
You may review my video testimonial and picture of my certificate in more stories from Students!
Gan Eng Seng Secondary School
GCE O Level student in 2018
“Improved my POA since tutoring with Felix”
Before my session with Felix, I wanted to drop POA. It was just so hard. But, ever since I started sessions with him, I started to grasp the concepts better and now I am pretty confident with my POA. In fact, I was so interested in business modules now that I am already in the EAE program with Temasek Polytechnic Business Management course.
St Patrick Secondary School
GCE O Level student in 2018
“From an F9 to B3 in GCE N Level”
I was failing all along in Secondary 3. Never had I passed my POA ever until I met Felix when I was in Sec 4N. He went through with me patiently on the different modules and build my foundation up since I had bad understanding of POA in Sec 3. Through his teaching and effort, I had improved greatly to a B3. My mom was thrilled.
You can see her “thank you message” to Felix from more stories from students!
Riverview Secondary School
GCE N Level student in 2018
Current GCE O Level student in 2019