Your career in accountancy, powered by ACCA
by StudyMalaysia on November 10, 2016 | Top Stories, Career Guide
WHY CHOOSE A CAREER IN ACCOUNTANCY?
A career in accounting and finance is a great choice because of the excellent job prospects around the world.
Every organisation needs finance professionals to steer them through all levels of growth. Their success is entirely dependent on a sound approach to financial management. That makes accountancy as essential to the health of organisations as medicine is to human health.
Accountancy can be extremely rewarding. Senior roles often attract high value salaries and benefits packages, with unlimited scope for progression.
You also benefit from being part of a prestigious profession that is respected and trusted by organisations and communities.
Accountancy is a profession that transcends national borders. The skills of professional accountants are of value almost anywhere in the world, thereby enabling you a global career.
Accountancy isn’t just about numbers. It can employ a wide range of other skills such as communications, teamwork, strategy, leadership and problem-solving. Choose a global organisation and you could also benefit from some incredible travel opportunities.
As one of the most flexible professions, accountancy can help you achieve the perfect work-life balance. Part-time roles and career breaks are possible, and the global demand for accounting professionals also creates many self-employment opportunities.
WHY CHOOSE TO STUDY ACCA?
95% of employers stated that ACCA is a respected brand for professional qualification. Around the world, employers recognise and respect the ACCA Qualification and know our members have the right skills needed to get the job done.
ACCA provides flexible study options where students can progress at their own pace. Full-time, part-time, self-study or distance learning, it is entirely up to them.
WHAT IS THE PATHWAY TO BECOME AN ACCA PROFESSIONAL?
WHAT ARE THE ENTRY REQUIREMENTS TO STUDY ACCA?
The qualifications you have now will determine at which point you start your journey with us. There are a number of entry points to gaining a qualification with ACCA.
- 5 SPM credits (grade C and above) in five separate subjects, including English and Maths
Note: Students who scored grade A (A+, A or A-) in their SPM Prinsip Perakaunan paper will be exempted one paper (paper FA1) from the CAT Qualification
- 2 principal passes at STPM (grade C or above), plus 3 SPM credits (grade C or above, or grades 1-6), in five separate subjects including English and Maths
- Matriculation Certificate: A minimum CGPA of 2.50, including English and Maths
- Unified Examination Certificate (UEC) grade B in any five subjects, including English and Maths
- 2 passes at GCE / VCE A Level (grades A-E) PLUS 3 GCSE / Vocational GCSE / GCE O Level passes (grades 1-6 / A-C) in five separate subjects including English and Math
- Australian Tertiary Admission Rank (ATAR) of at least 70, PLUS 5 SPM credits in (grade C and above) in five separate subjects including English and Maths
- Community College Diploma (Kolej Komuniti)
- Polytechnic Certificate / Certificate
- Foundation Degree/ Foundation in Arts/ Foundation Studies
Further details on entry requirements are available here.
To check for exemptions, click here.
WHAT DOES THE CAT QUALIFICATION COMPRISE OF?
The CAT Qualification is a foundation-level certificate that is suitable for anyone looking to gain a solid knowledge in accounting and finance. Completing this qualification directly leads to the ACCA Qualification with three paper exemptions (F1-F3).
The CAT Qualification is broadly equivalent to the first year of a degree programme, and can be completed in 1-1.5 years.
There are nine (9) papers in total:
- FA1* Recording Financial Transactions
- MA1 Management Information
- FA2 Maintaining Financial Records
- MA2 Maintaining Costs and Finance
- FAB Accountant in Business
- FMA Management Accounting
- FFA Financial Accounting
- Two of the following options:
- FTX Foundations in Taxation
- FFM Foundations in Financial Management
- FAU Foundations in Audit
Foundations in Professionalism**
* Students who scored grade A (A+, A or A-) in their SPM Prinsip Perakaunan paper will be exempted one paper (paper FA1) from the CAT Qualification
** Foundations in Professionalism is an online, interactive module designed to help students develop their understanding of what it means to act professionally and ethically in the work they carry out. This can be completed before or after completing the CAT exams; students need only successfully complete this module once. There is no set time allocated to complete the Foundations in Professionalism.
WHAT DOES THE ACCA QUALIFICATION CONSIST OF?
The ACCA Qualification is suitable for those who want to become a professional accountant and have the choice of working in any type of accountancy role and sector, either in your own country or other countries around the world
The Fundamentals level (papers F1–F9) is equivalent to degree level and the Professional level is equivalent to a master’s degree.
There are 14 papers in total:
- F1 Accountant in Business
- F2 Management Accounting
- F3 Financial Accounting
- F4 Corporate and Business Law
- F5 Performance Management
- F6 Taxation
- F7 Financial Reporting
- F8 Audit and Assurance
- F9 Financial Management
- P1 Governance, Risk and Ethics
- P2 Corporate Reporting
- P3 Business Analysis
- Two of the following options
- P4 Advanced Financial Management
- P5 Advanced Performance Management
- P6 Advanced Taxation
- P7 Advanced Audit and Assurance
Professional Ethics module*
- Students with the CAT Qualification will be exempted from studying the Knowledge exams.
- Students with an accredited accounting degree may be eligible to claim up to nine paper exemptions at the Fundamentals level. To check for exemptions, click here.
* Professional Ethics module will expose students to a range of ethical perspectives and include several self-tests which require them to reflect on their own ethical behaviour and values. They then apply what they have learned in a case study.
Students can attempt this online module as soon as they become eligible to take ACCA paper P1 (Governance, Risk and Ethics). Completion of this module is compulsory in order to become an ACCA member.
WHERE CAN I STUDY THE CAT AND ACCA QUALIFICATIONS?
ACCA recommends that you choose to study with one of our Platinum or Gold Approved Learning Partners (ALPs) for a quality learning experience. Details of the ALPs for student tuition in Malaysia can be found here.
WHAT ARE THE STUDY OPTIONS AVAILABLE?
The ACCA Qualification is designed to be flexible; you can choose to study at a tuition provider, by distance learning or even self-study. And you can choose full-time or part-time, depending on how much time you have available.
As study can be done at home or abroad, it is even possible to combine study with travelling and seeing the world!
HOW CAN I REGISTER TO BE A STUDENT?
You can register online at www.accaglobal.com/applynow. The following documents will need to be uploaded to complete the online registration:
- a passport-size photograph
- a photocopy of your identity card, birth certificate or passport
- photocopies of all official transcripts and certificates in English
WHAT ARE THE FEES I HAVE TO PAY?
Fees paid to ACCA will comprise registration, exemption (if applicable), examination and annual subscription. You can find the details here.
For tuition fees, you will need to contact the college directly. Details of our Approved Learning Partners can be found here.
In total, it costs approximately RM50,000-RM70,000 (inclusive of all exam, tuition, subscription and textbooks) to study the CAT and ACCA Qualification, depending on your chosen college.
WHAT ELSE CAN I GAIN FROM STUDYING ACCA?
Students pursuing the ACCA will benefit from our partnerships with Oxford Brookes University and the University of London.
BSc in Applied Accounting
Awarded by Oxford Brookes University exclusively for ACCA students who have completed all nine Fundamentals level papers. Students can gain this degree once they complete and pass the Oxford Brookes University Research and Analysis Project and the ACCA Professional Ethics Module.
For more information, click here.
MSc in Professional Accountancy
Awarded by the University of London exclusively for ACCA students who have successfully completed all the papers up to the P1-3 Professional Essentials exams. To gain this Master’s degree, students need to complete and pass the Strategic Financial Project.
For more information, click here.
Source: ACCA Malaysia
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