If a candidate enjoys dealing with numbers, have good reasoning skills while having an interest in business then an Accounting Degree in Malaysia should be the correct course for you. This field requires critical thinking and challenges which a candidate can be open to accept and move forward with it. Accounting is the key part of any business, this decides the financial strength of the company. It is to keep a track of the business by handling the ACCOUNTS PAYABLE, ACCOUNTS RECEIVABLE & OTHERS.
Practising as an accountant in Malaysia:
To practice Accounts in Malaysia, you will be required to be a member of the Malaysian Institute of Accountants (MIA) and accepted. You need to attain a recognised Degree from the University for Accounts in Malaysia or professional experience as an Accountant with 3 years of approved experience. Some Candidates might require to sit for MIA Qualifying Examination too.
A Diploma course in Malaysia for Accounts is usually 2-2.5 years long. It covers all the required points of the course. After this, you can either start working or proceed for the 2nd year of the Degree course of Accounts in Malaysia.
A Degree course in Malaysia for Accounts is always 3 years long along with the completion of Pre-U Qualification to get into a Degree program of Accounts in Malaysia.
What are the entry requirements to study accounting in Malaysia?
To study Accounts in Malaysia the general requirement for entry are as follows:
Diploma in Accounting:
SPM / O-Level: Minimum Three credits, including a pass in Mathematics, English, Bahasa Malaysia and History
It is usually 2-2.5 years long which covers all the fundamentals of the accounting course in Malaysia.
Degree in Accounting:
Candidates who want to pursue the study of Accounts from Malaysia will require to complete the SPM or Equivalent and also complete a Pre-U Qualification.
The basic information requirements are as given below:
However, it is always advised that every University in Malaysia for studying Accounts have different entry requirements so it is better to do your research before submitting your papers for Studying Accounting.
The course fee for studying Accounts in Malaysia has many levels: below shown how much it will cost to study accounting in Private University in Malaysia:
Tuition Fees of Pre-University Courses in Accounts in Malaysia are :
Foundation Course: RM 14000 (Approx)
This course concentrates on subjects which are important in a Degree course. They are also cheaper courses than other courses in studying Accounts from Malaysian University.
International Pre-University: RM 25000(Approx)
This course gives you the flexibility to choose where and what you want to study as the courses such as A-Level, SACE International and the Canadian International Matriculation Programme makes it happen.
Tuition Fees for studying a degree course in Malaysia for Accounts:
Foundation+Degree : RM 84000 (Approx)
Here the Tuition Fee of a Degree in Accounts from Malaysia will be approx of RM 70000 + The RM 14000 of foundation course.
While studying Degree you will be taught how to analyse financial data and help companies and even individual businesses to gain financial advantages.
International Pre-U + Degree : RM 95000 (Approx)
Here the cost of the Degree as said above is RM 70000 (Approx) + RM 25000 of International Pre-U.
You will be given the opportunity to work with Top banks and Auditing firms through internships, projects and finance competitions.
Tuition Fees for studying Diploma course in Malaysia for Accounts:
Diploma Course: RM 24000
To study Diploma in Accounts from Malaysia you will need 3 Credits in SPM and UEC. It is a 2 years course which teaches you basic relevant accounting skills.
Students who study Diploma in Malaysia start working earlier than the Degree students who take an additional two to three years to complete the Degree Course in Accounts from Malaysia.
Diploma students also save more on Tuition Fees compared to Degree students.
Many students take the ACCA or CPA exams to be certified as a Chartered Accountant after they Graduate from Malaysian University for Accounts. These exams ensure and prove your accounting skills to employers and get you a better position and salary in the market. A student can also avoid giving these exams by studying the 4th year from the University of Malaysia for Accounts and block a better future and career in the Accounting field.
An Accountant is tagged as the one who chose the top career in Malaysia. There are many options in the market for one seeking to pursue Accounts in Malaysia.
Students can either select the Public or the Private Sector to work for in Malaysia. You will find many various professions in this sector.
Every Business needs an accountant that can work as per their rules and regulations with the company’s financial records. It helps a company to see if they are profitable or at the loss as per their financial investment and work their plan out for the future accordingly.
There are many positions available in this sector and many jobs are secured for students who want to work abroad as a chartered accountant. Students of Accounts in Malaysia can choose to be a Teacher in this field and or can work with many insurance companies and banks.
The process of accounting is vast which includes inventory, taxes, cash flow patterns, employees' salary and other financial functions. Through the collection, categorization of the data as per the company’s instructions, accounting can help organisations to make business decisions in fields like marketing, profits, reinvestments, research & development and also expand the company.
When a person loves solving difficult tasks, works with data, looks into minute details and works in regular routines also works within the guidelines and solves problems with figures then the person must be looking into a career in Accountancy from Malaysian University
Studying Accounts in Malaysia in itself will teach you what accounting is about. Accounting skills are very practical and can be handled in daily life by planning how to work out your finances while you are studying for an Accounting Degree from Malaysia. To make sure that your finances during your stay in Malaysia for the Accounting course should not go out of control, you will need to work on your finances so that your spendings are less than your earnings or inflow of cash. This can be applied in many stages of your life while studying or even later in your life.
There are 4 types of main branches of accounting which is usually covered in a Degree from University in Malaysia for studying Accounts:
|Branch||What is it all about|
|Financial Accounting||Financial transactions, using suggested guidelines and procedures. Recording the transactions, Presenting the summarized financial report or making financial statements is what Financial Accounting is all about.|
|Management Accounting||Information acquired from the company management like cost Behaviour, Product Costing for Budgeting, Manufacturers, Vastness for making decisions and transferring pricing list is all one learns in this branch.|
|Tax Accounting||It works mainly on taxes which are governed by the Internal Revenue Code which has specific guidelines which a company or an individual has to follow when preparing for Tax returns.|
|Audit & Assurance Services||The Technical Concepts of auditing is involved in this branch, which also reviews a company’s financial accounts and developments.|
Studying Accounts in Malaysia ensures that you learn how important this department is in a company that involves recording, analysing and reporting financial transactions. Study of Accounts also ensures that a company or a business comply with the rules & regulations of the law.
Studying Accounting in Malaysia has many benefits which will give you a clear idea why one should study Accounts in Malaysia:
Better Employability : There was a demand of around Sixty thousand Accountants in Malaysia in 2020 as per the MIA reports.
Flexible Career Options : You can choose to work in many roles from Finance , Marketing to Politics to Management. Choose what suits you and your profile the best.
Advancement in Studies : You can always choose to study further in the same field. You can study Post Graduate Degree or a professional qualification too. It will help you climb the ladder of growth.
High Pay rise : According to research a Mid Career Accountant gets a pay of an average of RM 62,000 per year. The higher your qualification , the higher the position and then the higher your pay.
Gain Practical Skill Set : Studying Accounts in Malaysia will let you specialise in a vast variety of Accounting Fields. It will help you to improve your attention to detail, reasoning and critical thinking skills. Studying Accounts in Malaysian University can also help you in your daily life too, like planning your monthly budget and investments and future financial planning.
Wide range of opportunity : This Degree will give you many options to choose from in this field. Such as tax accounting , financial management, auditing, management consulting etc. With all the experience you gain and exposure to the knowledge and the skill development , later on you can also start your own Accounting firm.
Countless Possibilities in Business: Like there is no ending to learning , it's the same with studying Accounts in Malaysia. You will get countless opportunities to learn, develop your professional skills in this sector. The different subjects related to business covered during your study in Malaysia will give you the possibilities to change your professional career anywhere in the business of this field.
Accounting graduates in Malaysia should be able to find and keep a job in the top accounting and finance firms for a successful career.
The topmost recruiters in Malaysia for Accounts are as follows:
These are the 10 Multinational companies who have been hunting for the best candidates in the market of Malaysia for Accountants.
Graduates who complete Accountancy and Finance often follow the posts that needs further professional accountancy qualification as below:
Depending on the modules and credits you've achieved in your degree, you may skip some of these examinations.
Postgraduate courses let you work in a more specialised department of the financial field. Such as an MSc in Actuarial Science. You can also study for a PhD in specific skills in the finance area, such as in Banking and or Trade statistics.
Being an accountant you can start your career from the entry level to executive and higher level. An accountant plays a very major role in any business. It plays a very important part of an organisation, for managing payroll, auditing and financial management. As per the demands of different companies, the demand for an accountant has increased many fold.
The candidates who are eligible can easily find jobs in the Public or Private sector or non-profit industries and companies. You have options of various career profiles such as clerk, payroll clerks and accounts clerk.
There are two aspects in every department, so is for Accounts and Finance While the Accountant works with reporting and analysing how cash flows in and out of a business and confirming that the regulations are followed and overcoming the challenges. And The Finance department looks more towards the assets, liabilities and future growth of the company.