Students from the School of Digital Media and Infocomm Technology (DMIT), especially students of the Diploma in Financial Informatics (Accounting Concentration), will now benefit from a special tie-up with MYOB Singapore, distributor of the popular MYOB accounting software.

Both parties signed a Memorandum of Cooperation that will bring the following benefits to SP students from the School of DMIT over a three-year period:

• Donation of MYOB software for usage by DMIT students taking diploma courses in Financial Informatics, Information Technology and Business Information Technology. This is worth about $126,000, inclusive of technical and maintenance support costs.
• An MYOB Scholarship worth $2,500 will be awarded to one DFI (Accounting Concentration) student each year.
• Industrial attachment and internship placement at MYOB Singapore or its clients for SP’s staff and students.

MYOB is well-known in the accountancy circle as the most preferred software for small and medium enterprises. It is the fastest and easiest way for start-ups to manage their business finances.

Says Dr Timothy Chan, Director of SP’s DMIT School: “The partnership with MYOB is especially beneficial to our students taking IT courses. As some of our graduates are starting up their own businesses, some do so even before they graduate, will greatly benefit from knowledge of accounting information systems like MYOB. The IT sector is a fertile ground for business start-ups because the opportunities are aplenty. Their training in MYOB accounting software will give them an edge over others.'

Mr Lum Choong Eu, Country Manager of MYOB Singapore, concurs: “It is not prudent to employ additional staff just to look after financial matters when you start a company as it adds up to your cost. Poor financial management is a pitfall that may break a company, so the training they get will minimise this risk.”

This MOC is also well in line with the Inland Revenue Authority of Singapore’s launch of the Accounting Software Assistance Scheme where SMEs will be given generous subsidies in training and implementation of MYOB software in their finance operations.

19th Aug 2009

About MOB Singapore (www.myob.com)

MYOB is a provider of solutions that liberate business owners and accountants from the burden of day to day administration, empowering them to achieve business success. MYOB develops and delivers award-winning software, services and support for more than 700,000 businesses and over 10,000 accounting practices worldwide.

MYOB was one of the first businesses to recognize the unique needs of small-to-medium-sized businesses (SMBs) and equip them with powerful, accessible and affordable business management systems. It is the fastest and easiest way for start-ups to manage their business finances.

Two of MYOB’s most popular software, MYOB Premier & MYOB Premier Plus are complaint with IRAS’s e-Tax Guide: Guide on Accounting Software for Software Developers, which provides a set of principles that IRAS wishes to see incorporated in the development of accounting software.

The Signatory Panel
Mr Lum presenting the software package to Dr Chan	Mr Lum exchanging the MOC with Dr Chan
Mr Lum delivering a speech	Dr Chan delivering a speech
Group photo of all guests and signatories