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
| Institution Name | Course Name |
|---|---|
| Sunway College Ipoh | • Association of Chartered Certified Accountants (ACCA) • Certified Accounting Technician (CAT) |
| Taylor's College, Sri Hartamas | • Association of Chartered Certified Accountants (ACCA) Professional Accounting Qualification |
| KDU University College | • Association of Chartered Certified Accountants (ACCA) Qualification • Bac. of Accounting (Hons) • Certified Accounting Technician (CAT) • Dip. in Accountancy |
| Sunway College | • Association of Chartered Certified Accountants (ACCA) Qualification • Certified Accounting Technician (CAT) |
| UCSI University | • BA (Hons) Accounting • BA (Hons) Accounting & Finance |
| Asia Pacific University of Technology & Innovation (APU) | • BA (Hons) Accounting & Finance • BA (Hons) Accounting & Finance (specialising in Forensic Accounting) • BA (Hons) Accounting & Finance (specialising in Forex and Investments) • BA (Hons) Accounting & Finance (specialising in Taxation) • Dip. in Accountancy |
| Kuala Lumpur Metropolitan University College (KLMU) | • BA (Hons) Accounting & Finance |
| Nilai University | • BA (Hons) Accounting & Finance, |
| SEGi University | • BA (Hons) Accounting & Finance • Bac. of Accounting & Finance (Hons) |
| Taylor's University Lakeside Campus | • BA (Hons) Accounting & Finance |
| SEGi College, Penang | • BA (Hons) Accounting and Financial Management • Executive Diploma in Accountancy |
| SEGi College, Sarawak | • BA (Hons) Accounting and Financial Management • Executive Diploma in Accountancy |
| KBU International College | • BSc (Hons) Accounting & Finance |
| Sunway University | • BSc (Hons) Accounting & Finance |
| HELP Academy | • BSc (Hons) Accounting & Finance |
| Management & Science University (MSU) | • Bac. in Accountancy (Hons) |
| INTI International University & Colleges | • Bac. of Accountancy (Hons) • Bac. of Business (Hons) Accounting |
| MAHSA University | • Bac. of Accounting (Hons) • Dip. in Accountancy |
| Manipal International University (MIU), Malaysia | • Bac. of Accounting (Hons) |
| Universiti Tenaga Nasional (UNITEN) | • Bac. of Accounting (Hons) • Diploma in Accountancy |
| Universiti Tun Abdul Razak (UNIRAZAK) | • Bac. of Accounting (Hons) |
| Universiti Tunku Abdul Rahman (UTAR) | • Bac. of Accounting (Hons) • Bac. of Commerce (Hons) Accounting |
| SEGi College, Kuala Lumpur | • Bac. of Accounting & Finance (Hons) • Executive Diploma in Accountancy |
| SEGi College, Subang Jaya | • Bac. of Accounting & Finance (Hons) |
| Monash University Malaysia (MUSM) | • Bac. of Business & Commerce (Accounting) • Bachelor of Commerce (Accounting) |
| HELP University | • Bac. of Business (Hons) Accounting |
| LIMKOKWING University of Creative Technology | • Bac. of Business (Hons) Accounting, |
| Curtin University, Sarawak | • Bac. of Commerce (Accounting & Finance) • Bac. of Commerce (Accounting & Banking) • Bac. of Commerce (Accounting & Entrepreneurship) • Bac. of Commerce (Accounting & Marketing) • Bac. of Commerce (Accounting) |
| Quest International University Perak | • Bachelor of Accountancy (Hons) • Diploma in Accountancy |
| Tunku Abdul Rahman University College | • Adv. Dip. in Business Studies (Accounting) • Cert. in Business Studies (Accounting) • Dip. in Business Studies (Accounting) • Dip. in Commerce (Financial Accounting) • The Assoc. of Chartered Certified Accountants (ACCA) • The Chartered Inst. of Management Accountants (CIMA) |
| Olympia College, KL | • Certified Accounting Technician (CAT) Intro & Intermediate/Advanced |
| Erican College | • Dip. in Accountancy |
Public universities
| Institution Name | Course Name |
|---|---|
| Universiti Malaysia Sarawak (UNIMAS) | • Bac. of Accountancy |
| International Islamic University Malaysia (IIUM) | • Bac. of Accountancy |
| Universiti Teknologi Malaysia (UTM) | • Bac. of Accountancy |
| University Malaysia Terengganu (UMT) | • Bac. of Accountancy |
| University of Malaya (UM) | • Bac. of Accountancy |
| Islamic Science University of Malaysia (USIM) | • Bac. of Accountancy(Hons) |
| Universiti Malaysia Sabah (UMS) | • Bac. of Accountancy(Hons) |
| Universiti Utara Malaysia (UUM) | • Bac. of Accountancy(Hons) • Bac. of Accounting (Information System) (Hons) |
| Universiti Sains Malaysia (USM) | • Bac. of Accounting (Hons) |
| Universiti Pendidikan Sultan Idris (UPSI) | • Bac. of Accounting (Hons) |
| Universiti Teknologi MARA (UITM) | • Dip. in Accountancy • Dip. in Accounting Information System |
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)
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