Study In Malaysia: Accounting Courses

by StudyMalaysia.com on February 5, 2015 | Top Stories

Accounting is an important part of businesses as it's a means of determining the financial stability of a business. It is the process of keeping track of the finances of a business through its accounts payable, accounts receivable and other financial transactions.

The process of accounting helps a business monitor its inventory, taxes, cash flow patterns, employees' salary and other financial obligations. Through the collection, classification and manipulation of financial data according to a set of guidelines, accounting enables organisations to make business decisions in areas such as marketing budgets, profit reinvestment, research and development, and company expansion.

The job of an accountant

As an accountant, you will be responsible for an individual's or a company's financial statements, ensuring that they are accurate and comply with laws and regulations. You would need to use accepted accounting procedures to organise and maintain financial records and ensure that taxes are paid. In addition, accountants advise their clients or employers on ways to reduce costs and improve profits. Accountants also need to analyse trends to project future revenues and expenses.

Is accounting for you?

Accountants must have good analytical skills and be detail oriented. They need to be able to pay attention to detail when examining and identifying issues in documentation; and suggest solutions. Good communications skills are also essential when it comes to listening to their clients or employers and discussing their work during meetings. Strong organisational skills and a passion for figures are also important.

Personality type

The interest code for this career is CE (Conventional and Enterprising). This means that a person who likes accounting would probably reflect these personality traits:

• Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
• Enterprising — Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.

Work styles

Accountants should exhibit work styles that include integrity and dependability. They also need to be careful about detail and thorough in completing work tasks. Analytical thinking is required when analysing information and using logic to address work-related issues and problems. This job also requires tolerance for stress and being able to accept and deal with criticism.

 Work values

Accountants value achievement and tasks that are results oriented, allowing them to use their strongest abilities. They also enjoy independence in working on their own and making decisions. A supportive management is also important to accountants.

Studying accounting in Malaysia

Here's an overview of some accounting degrees in Malaysia. You can also check the list of accounting degrees from our course search page.

Private institutions

Public universities

Practising as an accountant in Malaysia

To become a qualified accountant, you will need to be accepted as a member of the Malaysian Institute of Accountants (MIA). To do this, you need to obtain a recognised degree (most accounting degrees offered at public universities fall under this category) or a professional accountancy qualification (see below); and 3 years of approved experience. In addition, some candidates may be required to sit for the MIA Qualifying Examination (QE).

Here are some examples of professional accountancy bodies in Malaysia:

• Association of Chartered Certified Accountants (ACCA)
• Certified Practising Accountants Australia (CPA Australia)
• Chartered Institute of Management Accountants (CIMA)
• Institute of Chartered Accountants in Australia (ICAA)
• Institute of Chartered Accountants in England and Wales (ICAEW)
• Malaysian Institute of Certified Public Accountants (MICPA)

References:

• Malaysian Institute of Accountants
• My Next Move – Accountants
• Occupational Outlook Handbook
• StudyMalaysia.com

You May Also Be Interested In...

• SPM VS. IGCSE Grading System

  What's better than an A and what do your grades mean? Whether you...

• Careers in languages and linguistics - 10 sectors you can explore

  So you want to study language and linguistics but you’re not sure wh...

• Why study a diploma?

  You might not think that a diploma is your cup of tea but a diploma qu...

• How to Choose a Pre-U Programme : insights from Mr Lim Tou Boon, Taylor's College

  When the SPM exam is over in this coming December, many SPM holder stu...

• Why study digital business

  Digital business is all about creating new value in business models an...

• 5 Budget Tips Every Malaysian Student Should Know

  As a student, our lifestyle tends to be a little more frugal as we don...