You will be responsible for the financial accounts of a person or a corporation as an accountant, ensuring that they are correct and that they conform with the rules and regulations that are in effect. In order to organise and keep track of financial data and ensure that taxes are paid, you would be required to utilise standard accounting methods. A career in accounting in Malaysia may be quite fulfilling and offers several prospects for professional advancement. Accountants have a job that is secure, pays well, and offers plenty of prospects for promotion.
What is Accounting?
Accounting is the process through which a person or organisation, such a small company, keeps track of their financial transactions. You are only permitted to engage an accountant for the purpose of filing your taxes as an individual. This task is performed by certified public accountants (CPAs), who must pass a test to demonstrate their proficiency in accounting.
Accounting is one of the most important roles for almost any kind of company. In a smaller company, it may be managed by a bookkeeper or an accountant, however in a bigger company, it may be handled by vast financial departments consisting of hundreds of personnel. When it comes to assisting management in making educated choices for the company, the reports that are provided by the different streams of accounting, such as cost accounting and managerial accounting, are of incalculable value. As the owner of a business, it is important that you have a solid understanding of the many kinds of assets, inventories, and liabilities that your company holds. Because of this, you will have a better chance of continuing to expand your firm and attracting investors.
What you’ll be studying to become an Accountant?
Accounting is one of the most important aspects of running a company because it enables you to keep track of your income and expenses, ensures that you are in compliance with applicable laws, and supplies investors, management, and the government with quantitative financial information that can be used in the process of making decisions pertaining to your company.
In the future, if you want to be a skilled accountant, you will need to know a number of different things. These are the most prevalent subfields of accounting that you may encounter during your education! After obtaining your degree, you will have the opportunity to either enter the workforce or pursue further education in a particular area of accounting.
- Tax Preparation
- Record-Keeping
- Risk Assessment
- Internal Audit
- Financial Transactions
- Research & Analysis
- Reporting & Statistics
- Business Law
- Economics
- Banking & Investment
What skills are required in Accounting?
The following is a list of the most important qualities and skills that one should strive to develop in order to be successful in an accounting course.
- Time Management
Time management is a skill that every accountant should have since, to reiterate, deadlines do not wait on anybody. In addition, accountants often work on many projects at the same time, which necessitates the ability to strike a balance between various responsibilities, requirements, and procedures.
- Organisational Skills
Maintaining a sense of orderliness is essential for accountants throughout their job processes. Their job, in many situations, is time-sensitive in nature, and they are required to conform to deadlines that are not within their control. They contribute to the reduction of risks faced by the company by keeping on top of their job and maintaining organised.
- Math Skill
In your role as an accountant, you will be responsible for putting together a number of different financial reports. You need to have a good understanding of numbers in order to connect the dots between the numbers on the income statement and the figures on the cash flow statement and the balance sheet. Mathematical aptitude has always been and will continue to be an essential component of a successful financial and accounting skill set.
- Communication Skill
Speaking fluently and communicating properly in order to successfully transmit information is incredibly crucial in accounting studies. The vast majority of people have the misconception that accountants spend all day working with numbers. This is not accurate, since you will very certainly be required to work in groups or report to individuals in a variety of hierarchical structures on a regular basis.
Career Pathways with A Degree in Accounting
After graduation, there are a plethora of work prospects available in the field of accounting. With a degree in accounting, you will not only aim for an accountant position, but there are also employments in investment banks, insurance firms, management consultancies, and banks, and they may be found working in the accounting or finance departments of practically every sector of industry or company.
The following is a list of potential career paths for you to consider:
- Accountant
- Bank Manager
- Financial Controller
- Chief Financial Officer
- Auditor
- Investment Banker
- Forensic Accountant
- Tax Consultant
- Credit Manager
- Financial Analyst
- Internal Auditor/Manager
- PTP Team Lead/Manager
- Management Accountant
- Systems Accountant
- OTC Team Lead/Manager
- FP&A Analyst
Pathway to become A Chartered Accountant in Malaysia
Students who have completed SPM or IGCSE/O-Levels and have accumulated 5 credits are eligible to enroll in the Foundation in Business/ Accounting/ Finance/ equivalent program, which lasts for one year and then go on to the degree program, which lasts for three years. The second option is to enroll in a two-year program leading to a Diploma in Business/ Accounting/ Finance/ equivalent, complete those requirements, and then transfer to a 3 to a four-year university to complete the degree requirements. In order to enroll in the diploma program, you will need to have a minimum of three credits in your SPM.
After you have earned your degree, you may look for work and then finish the requirements for the ACCA while working half-time. There is a possibility that some students may choose this route since it will allow them to get a degree qualification in addition to a professional accounting certification.
The graduates of the accounting degree programs will receive 9 paper exemptions out of a total of 15 ACCA papers upon completion of the degree programs. You have to be a member of the Malaysian Institute of Accountants (MIA), which is the regulatory body for accountants in Malaysia, in order to become a registered chartered accountant in Malaysia. This institute is known as MIA.
It is possible to become a member of the MIA if you are a member of ACCA, CIMA, CPA Australia, ICAA, ICAEW, or MICPA. ACCA affiliates who have a minimum of three years of relevant supervised practical experience are required to submit their Practical Experience Requirement (PER) to ACCA in order to demonstrate sufficient competency to merit membership.
Here is a graphic example of how you may study to become an accountant after completing your SPM, UEC, or IGCSE levels, as well as your STPM or A levels, if you are considering becoming an accountant but are unsure which route would be most suitable for you.
Entry requirements for Accounting Programmes in Malaysia
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English language entry |
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Note: The requirements may be different at different colleges; for questions about additional admission requirements, please get in touch with us!
Top Universities to study Accounting in Malaysia
#1 Asia Pacific Univeristy
The Asia Pacific University of Technology and Innovation (APU), which can be found in Bukit Jalil, is considered to be one of the premier private universities in Malaysia. It is a place where an innovative and effective combination of technology, creativity, and innovation is utilised to effectively prepare graduates for significant roles in global business and society. In the most recent round of the QS Stars Rating awards, APU was given an overall rating of Five Stars Plus, making it the first university in Malaysia to do so. There are only 19 colleges in the world to get this honor, and APU is one of them.
The most recent edition of the QS Asia University Rankings 2022 places APU as one of the Top 10 Private Universities in Asia. According to the QS World University Rankings, APU is placed among the Top 3 Universities for International Students, Top 5 Universities for Inbound Exchange, and among the Top 30 Universities for International Faculty. According to the QS World University Rankings – Asia 2022, APU is positioned among the top 280 universities in the region.
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Duration | 3 Years |
Intake | Mar, Jul, Sep, Nov |
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For more information regarding the fees, program structure and entry requirements, contact us now for free consultation.
#2 Taylor's University
Taylor’s University is a Malaysian private university located in the city of Subang Jaya in the state of Selangor. According to the QS World University Rankings, it is consistently ranked as the best private university in Malaysia. In order to serve the growing student body of Taylor’s University, the Lakeside Campus was established in 2010. There are many restaurants and shops located on the Syopz campus. There is also the U Residence there.
Taylor was honored with the Institute of Landscape Architects Malaysia Special Honour Award in the year 2011, which was given out in Category 3: Professional Awards in Landscape Design and Planning category. The interior design, architecture, and landscaping of Lakeside Campus came out on top.
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Duration | 3 Years |
Intake | Jan, Mar, Aug |
Indicative Fees (2022) |
For more information regarding the fees, program structure and entry requirements, contact us now for free consultation.
#3 SEGi University
In 1977, Systematic College, which was located in the middle of the business centre of Kuala Lumpur, was rebranded as SEGi University and Colleges (SEGi). The SEGi educates a total of 20,000 students over its five primary campuses in Kota Damansara, Kuala Lumpur, Subang Jaya, and Sarawak. These campuses are situated in Malaysia.
SEGi University is ranked among the top 350 educational institutions in all of Asia, as shown by the Asian University Rankings that were gathered and published by QS World University Rankings. SEGi is delighted to share the news that the RISE platform is now available to the public. People who are currently working may increase their credentials via the use of SEGiRISE while keeping their existing jobs and maintaining their schedules.
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Duration | 3 Years |
Intake | Jan, Apr, Jun, Aug, Sept, Oct |
Indicative Fees (2022) |
For more information regarding the fees, program structure and entry requirements, contact us now for free consultation.
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About Author
Nik Noor Fatihah
I am a student at the National University of Malaysia, where I am now pursuing a degree in business administration with a majoring in marketing. Loves painting, designing, and singing 🙂