We have shared a lot of unique and interesting startup businesses on ZOM-IN. There is this one business that might not sound fun, but it is very important because it’s the backbone of the business financial world. Yup, we are talking about accounting.
The knowledge and practices of accounting were created in response to the development of trade and commerce during the medieval times. The first published accounting work in the history was dated back in 1494. Accounting is an organized method for record-keeping has been around almost as long as the trade and business industries. The concepts of assets, liabilities, and income and the need to reconcile these areas is still the basis for all accounting functions from then till now.
In 1987, Khor was choosing his profession after completed form 6. It was during the global economic boom. He made up his mind to become a Chartered Accountant. He pursued the ACCA certification from Systematic College (has now rebranded as SEGi University) and started his career as an accountant in an accounting firm.
He saved up his salaries and at the age of 27, he opened his own accounting firm, the KHOR & CO Chartered Accountants and has sustained the business until today. Today, the firm is providing audit, taxation and secretarial services to small and medium enterprises.
Khor is very determined in providing valued services to their clients rather than quality. Thus, they only serve a limited number of clients within their capacity. Besides, He only hires trustworthy people and he gives his employees his complete trust. They work independently with minimal supervision as Khor always needs to travel.
As we are experiencing the digital transformation in every industry, the accounting industry is facing a big challenge. “The ways of doing business are changing rapidly since the involvement of technology. Every year government releases new standards in auditing the profits. We have to pick up fast.”
Accounting is a challenging career because the accountants and auditors have to be extra careful in handling every number. A small mistake can cause a huge damage to the business. Furthermore, they have to renew their licenses regularly.
Hardworking is necessary. In this industry, it’s impossible to success without hard works. However, if you putting enough efforts, the rewards will come to you.”