Accounting Scholarship Application

Two letters of recommendation: One letter of recommendation from teachers or professors from whom you have taken classes and one letter of recommendation from persons in your community.

Remember to include the name and contact information of your referees as part of your online application.

SME Survival will contact the referees for a verbal testimonial, in addition to the written testimonial.

Personality Assessment

Vision Statements: What are your personal goals for the Scholarship year and how will the Scholarship help you to achieve them? How do you hope to contribute to SME Survival from a global perspective? *

Select the statement that describes you accurately. *

I act first and think later. I feel energised when around people and feel deprived when cutoff from interaction with people. I enjoy interacting with a wide variety of people. I think first then act. I regularly require private time to "recharge my batteries". I prefer few but deep and meaningful relationships.

Select the statement that describes you accurately. *

I mentally live in the present, attending to present opportunities. I like clear and concrete information when making decisions, and dislike guessing when facts are unclear. I instinctively use logic to create practical solutions when solving problems. I mentally live in the future, attending to future possibilities. I am comfortable with ambiguous data and guessing its meaning when making decisions. I instinctively use my imagination to invent new possibilities when solving problems.

Select the statement that describes you accurately. *

When making a decision, I instinctively look to the facts and logic. I focus on the work that needs to be done. It is easy for me to provide an objective and critical analysis. I accept conflict as a natural part of working relationships. When making a decision, I instinctively think of how others are feeling. I focus on people's needs and reactions. I seek group consensus and popular opinions. When working, I do not like arguments and am uncomfortable with conflict.

Select the statement that describes you accurately. *

I plan many details before acting. I do my best to keep ahead of deadlines and use targets, dates and standard routines to manage work. I am comfortable acting without a plan. I work best close to deadlines and avoid commitments which causes my schedule to be rigid and inflexible.

Accounting Proficiency Test

Please answer the following questions.
The answers you provide will be used to determine if you possess the necessary accounting skill sets to be successful in the role of Accounting Scholar.
Please fill in the answers in the space provided.
Ensure that you list the calculations step by step so that we can assess your accounting reasoning skills.

Question 2: At the end of 2015, company X has total trade receivable outstanding of $36,500. Based on historical statistics, company X set a policy that every year, company X will make a provision of 5% for total trade receivables. Balance of Provision for doubtful debt at the beginning of the year is $550 (no receivable amounts to be written off). Write journal entries for above provision. *

Question 3: Company X has performed its financial year end closing stock take. The amount is $123,456. Please provide the entry of closing stock in company X books. *

Question 4: Company X purchased a motor vehicle ("MV") at $5,000 on 1st January 2015. Company X policy is to depreciate the MV using straight line method over 5 years. On 31st December 2015, Company X sold the MV for $3,000. Company X financial year is 31st December. Please provide the entries for the disposal of MV. *

Question 5: Company X operates a restaurant and is registered with Goods and Services Tax (GST). GST is currently at 7%. Yesterday sales comprises of Credit Card $300 (inclusive of GST). Credit card company currently charges 2% on all transactions. Please provide the entries for recording of sales and receipts. *

Question 6: In June 2015, customer A purchased goods from company X with total value $12,500 (include GST 7%). In September 2015, customer A paid $5,000 and promised that remaining amount would be paid later. However in November 2015, customer A bankrupted and was unable to pay out the remaining amount to company X. Company X decided to write-off all outstanding amounts (in case company X don’t make any provision for doubtful debt). How should company X treat the GST amount including in bad debt? Write journal entries for this case. *Note: You can find Singapore tax regulation here https://www.iras.gov.sg/irashome/ *

Accounting Scholarship ​Application

Personal Details

Personality Assessment

Accounting Proficiency Test

Accounting Scholarship
Application