Best Accountancy Courses at Private Universities in Malaysia

Written by EduSpiral Consultant Services. For more information contact 01111408838

Accounting is arguably the most important aspect of any business or company. The accountant makes sure that the finances of a company are correct, and balances the company’s books. Accountants can find stolen money or money that has gone missing within the company; they can advise on business funds for potential growth; most importantly, they have a firsthand look into the future of a company.

Accountancy is one of the backbones of the modern world, and the backbone of business. Almost every company in Malaysia and globally needs at least an accountant. Furthermore, behind every successful company is a skilled accountant – who understands how to use their knowledge of finance, mathematics, statistics, and economics to grow a business.

Furthermore, Accountancy is a highly specialised subject, but is about much more than just numbers. It looks specifically at the daily flow of money in and out of a business, keeping an eye on the balance and avoiding any future challenges. To study accounting at a top private university in Malaysia is to set yourself on a strong career path.

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Top Private Universities & Colleges in Malaysia to Study Accountancy

Accountancy is the language of business – an international language that will take you places. Accountancy is about providing facts and information systems, and helping others understand those systems, so they’re equipped to plan and make decisions.

Students interested in taking the accounting & finance degree at top private universities in Malaysia can consider the list below. Each private university has its own strengths and uniqueness that would fit you and equip you to be successful in your future career as an accountant in Malaysia.

1. University of Nottingham Malaysia Campus
2. Heriot-Watt University Malaysia
3. Monash University 
4. Taylor’s University
5. Sunway University
6. Multimedia University (MMU)
7. University of Wollongong UOW) Malaysia KDU, Utropolis Glenmarie
8. First City University College
9. HELP University
10. Asia Pacific University (APU) 
11. UOWM KDU Penang

What is Accountancy?

Accountancy is the recording, maintaining, and reporting of a company’s financial records.

Accountancy is the study of how businesses track their income and assets over time. Accountants complete many tasks besides preparing financial statements and recording business transactions including computing costs and efficiency gains from new technologies, participate in the set up for acquisitions and mergers, quality management, developing and using information systems to track financial performance, tax strategy, and health care benefits management.

Accounting professionals work for individuals, in-house at corporations, or on behalf of other businesses at a public accounting firm.

These professionals are responsible for ensuring that all financial transactions are correctly entered into the general ledger, that account balances are correct, and that financial statements are accurate.

In addition, you are able to obtain the same 9 paper exemptions from the ACCA from the accounting & finance degree. Therefore, you are able to complete the final 5 papers after your degree and apply to become a Chartered Accountant in Malaysia.

Why You Should Study at the Best Private Universities in Malaysia for Accountancy

In order to succeed in the competitive field of accountancy, students must choose the best universities in Malaysia to study. The best university doesn’t necessarily mean the most expensive. Students should choose the right university that fits them which has a good reputation for business programs, excellent facilities, top lecturers and an English-speaking student environment.

If you want to work for the Big 4 Accounting Firms – KPMG, Deloitte Touche Tohmatsu, PricewaterhouseCoopers and Ernst & Young, you will need to achieve great results and be able to communicate well in the English language. Other top accounting firms in Malaysia that you can work for are BDO, Grant Thornton, Baker Tilly MonteiroHeng, DFK International and Halim & Lee.

Part of finding the right college or university in Malaysia for you will be picking out the criteria that matters to most to you, and then seeing if any of the top private colleges or universities in Malaysia that you’re looking at fit those criteria.

Choosing a university to study in Malaysia is one of the most important decisions you will make in your life. Your decision will be influenced by many criteria such as the reputation & ranking of the university, accreditation of its courses, the suitability of the course against your academic results and career goals, tuition fees, quality of lecturers, facilities, friends & family, and more.

Furthermore many of the top private universities in Malaysia offer similar courses therefore making your decision a challenging one! To help you develop a good list of criteria, you need to talk to the right counselors or education consultant who are knowledgeable and experienced.

What are the Entry Requirements to Study Accountancy in Malaysia?

With at least 5 credits in SPM, IGCSE or O-Levels,  students can go into the Foundation in Business  or Foundation in Arts for a year and then continue into the Accountancy degree for 3 years.

The other way is to go for the Diploma in Business or Diploma in Accounting for 2 years and then enter into the Degree in Year 2 to finish that in another 2 years. You will need at least 3 credits in your SPM, IGCSE or O-Levels to join the diploma.

Students who have completed a Pre-University Programme may enter the Accountancy degree with the requirements as listed below:

• 2 Principal Passes with a minimum Grade C+ (GP 2.33) at STPM level and with a Credit Pass at SPM including Mathematics and a Pass in English at SPM
• 2 Passes with Grade C & Above at ‘A’ Levels and with a Credit Pass at ‘O’ Levels / GCSE including Mathematics and a Pass in English
• Foundation or equivalent with CGPA of 2.5 and Credit in Mathematics at SPM/O-Level and a Pass in English
• 5 Grade B’s in UEC including Mathematics
• Canadian Pre-University (CPU) with minimum average of 50%
• Australian Matriculation (AUSMAT) with minimum average of 60%
• South Australian Matriculation Certificate (SAM) with minimum of 60%
• International Baccalaureate with minimum 24 marks
• Victorian Certificate of Education with minimum average of 50%
• Ontario Secondary School Diploma with minimum average of 50%

Note: The entry requirements stated are for reference purposes and each university in Malaysia have their own entry requirements and may differ. Please contact us at 01111408838 for the specific entry requirements.

What Type of Students Should Study Accountancy in Malaysia?

Students who like maths or accounting subjects. A strong interest in money and finances. Generally, the person is very organised, neat, and likes things to be in order. They are introverts, shy, quiet, and able to focus and concentrate to get work done well.

They are perfectionists and makes sure that anything done, is fully completed on time.

It is also normal for science stream students to go into accounting courses but you should be good in modern maths or add maths. It can be difficult at first because you are learning a lot of ideas, rules, and procedures that are specific to accounting and that are new to you.

Studying accountancy is not like reading a novel or even like studying history, psychology, or economics. This is a technical subject, it is logical, and it requires reasoning.

Accountancy students should try to be able to say, “I understand why they do that.” If you can understand “WHY” in accounting, there is very
little to memorize.

Even though you understand “why they do that” in accountancy, you must be able to do it yourself. Accountancy is a practical “do-it-yourself” course.

What you will study in an Accountancy degree in Malaysia?

Some common subjects found in most Bachelor Accountancy Degree are as follows:

• Management
• Introductory Accounting
• Statistics
• Microeconomics
• Marketing
• Management Accounting
• Business Communication
• Macroeconomics
• Cost Accounting
• Business Law
• Accounting Information Systems
• Financial Management
• Financial Accounting
• Business Research Methods
• Management Accounting
• Taxation
• Company Law
• Management Ethics
• Auditing
• International Business
• Entrepreneurship
• Strategic Management
• Accounting Theory and Practice
• Financial Statement Analysis

What are the Career Options for Accountancy Graduates?

Presently, Malaysia has about 7.5 million Accountants. The country requires another 60,000 Accountants to fulfill Vision 2020. The Financial sector stands as one of the largest sectors in Malaysia with more than 300,000 people employed. This sector is made up by professionals in the Accounting, Banking, Economics, Finance, Insurance and Statistics and Taxation sub-sectors.

An important industry for the country, it contributes up to 11 percent of the nation’s Gross Domestic Product (GDP). The role of the financial sector is envisioned to continue growing to be a key driver and catalyst of Malaysia’s economic progression.

A career in Accountancy can give you high salaries if you are equipped with the necessary knowledge and skills. Therefore, you should choose a reputable top university in Malaysia to study the Accountancy degree.

Jobs directly related to your degree include:

• Chartered accountant
• Chartered certified accountant
• Chartered management accountant
• Chartered public finance accountant
• Company secretary
• External auditor
• Forensic accountant
• Stockbroker

Jobs where your degree would be useful include:

• Actuary
• Arbitrator
• Business development manager
• Data analyst
• Economist
• Licensed conveyancer
• Management consultant
• Mortgage adviser
• Purchasing manager
• Retail banker
• Tax adviser

What are the Types of Accountancy related jobs in Malaysia?

Accountancy jobs can be categorized into the following four major areas:

1. Audit.
   • Audit involves checking accounting ledgers and financial statements to verify its accuracy and detect fraud and inconsistency. Public listed firms are required by law to do yearly to verify its financial reports in order to safeguard publics’ money. Budget Analysis. Budget analysts are responsible for developing and managing an organizations financial plans.
2. Financial Accounting.
   • Financial accountants prepare financial statements based on general ledgers and participate in important financial decisions involving mergers & acquisitions, benefits/ERISA planning and long-term financial projections.
3. Management Accounting.
   • Management accountants work in companies and participate in decisions about capital budgeting and line of business analysis. Major functions include cost analysis, analysis of new contracts and participation in efforts to control expenses efficiently.
4. Tax Accounting.
   • Tax accountants prepare corporate and personal income tax statements and formulate tax strategies involving issues such as financial choice, how to best treat a merger or acquisition, deferral of taxes, when to expense items and the like.

How to Become a Chartered Accountant in Malaysia?

What are the ACCA Exemptions for Accountancy Degrees in Malaysia?

Upon completion of the accountancy degree programme, graduates will have 9 paper exemptions from the total of 14 ACCA papers.

I would recommend students who are weak in the English language to go for the accounting degree course first and then only pursue the ACCA. The ACCA is exam-based and marked in the UK.

Generally, an Accountancy degree from a private university in Malaysia can gain exemptions until the final 5 papers of the ACCA. A maximum of nine papers at the Fundamentals level of the ACCA Qualification can be awarded.

Depending on any existing qualifications you may hold, exemptions can be awarded across:

• The Foundation level qualifications and
• the nine Applied Knowledge and Applied Skills exams of the ACCA Qualification.

No exemptions are awarded:

• for the Strategic Professional exams of the the ACCA Qualification or
• on the basis of work experience or
• for any of the exams or modules examined within their post-professional qualifications

Should you have a relevant degree from an ACCA-accredited institution in Malaysia, you may be granted exemptions of up to all 9 Papers at the Fundamentals Level. No exemptions are awarded at the Professional Level.

You will be entitled to exemptions from the ‘Knowledge’ papers of the ACCA Fundamentals level, namely, Accountant in Business, Management Accounting and Financial Accounting. Such graduates will also be entitled to exemptions from the remaining 5 ACCA Fundamentals level ‘Skills’ papers provided they have taken and passed certain specified modules.

ACCA PROFESSIONAL LEVEL (Final 5 papers)

Essentials Module

• P1        Governance, Risk and Ethics
• P2        Corporate Reporting
• P3        Business Analysis

Options Module (any 2 papers)

• P4        Advanced Financial Management
• P5        Advanced Performance Management
• P6        Advanced Taxation
• P7        Advanced Audit & Assurance

Professional Recognition for Accountants in Malaysia

• Association of Chartered Certified Accountants (ACCA), UK
  Upon completion of the BA (Hons) Accounting & Finance degree, students are eligible for exemption from a maximum of 9 papers.
• Certified Practising Accountant (CPA), Australia
  Upon completion of the BA (Hons) Accounting & Finance degree, students are exempted from the Foundation Level and they can proceed with the Professional pathway (6 subjects).
• Malaysian Institute of Accountants (MIA)
  Upon completion of the BA (Hons) Accounting & Finance with 3 years relevant working experience plus completion of Professional qualification (ACCA or CPA), students are eligible to apply for membership of the MIA.

Introducing the ACCA Accelerate Programme

All over the world, employers are seeking out ACCA members to take their organisations into the future. That’s because the ACCA Qualification creates strategic thinkers who understand business needs.

The good news is that when you join the Accelerate programme, you get to leap ahead on your journey to becoming an ACCA member – a chartered certified finance professional.

That’s because what you learn on your degree will count towards your ACCA Qualification. So by the time you graduate, you could have completed all the ACCA exams.

And the really great news is you can save considerable money by paying a reduced registration fee, discounted exemptions and special subscription fees. Please note that exemptions must be claimed before the waiver expiry date and at least one exam must be taken before the waiver expiry date.

What’s it like Studying the ACCA Accelerate Programme at a Top Private University in Malaysia?

Your university course is ACCA accredited, so it’s already aligned with their approach. In addition, you’ll get to study towards your final ACCA Professional-level exams, if you have the correct exemptions. You should check with your course leader to see if your course has conditional or non-conditional exemptions.

This means you’ll enter the workplace as an ACCA affiliate. You could become a qualified ACCA member in as little as 36 months after you graduate.

And all the while you’re studying with us, you’ll have access to free study resources and the ACCA Careers Job Board. You’ll be part of a worldwide community of ACCA students.

What is the ACCA Accelerate Programme?

The programme allows undergraduate students the option to take Professional ACCA papers (maximum 5
ACCA papers) before or after graduating from their degree course.

Students who sign up for the ACCA’s ACCELERATE PROGRAMME would enjoy many benefits, amongst them being:

• Expedited pathway to becoming an ACCA member. Complete some or all of the ACCA papers before
  graduating.
• FREE initial registration fees. Your initial ACCA registration fee of GBP79 will be waived
• FREE annual subscription fees – two years including graduating year subscription fee of GBP170 will be waived
• DEFERRED exemption fees – You need to only pay the exemption fee two years after graduation.
• Membership in the exclusive Accelerate club that will provide access to events and promotion by ACCA.
• Access to employers in the form of: Employer Fair at ACCA events, Trips to employers, Talks and
  Activities organised by employers.
• Self-improvement opportunities from workshops conducted by ACCA.
• Networking opportunities with students from various universities, employers and prominent
  ACCA members.
• Receive Student Accountant Direct alerts — you will receive e-alerts such as career advice, study tips and ACCA news straight into your inbox.

ACCA will support students of ACCELERATE accredited programmes with the following:

• Free initial registration fee
• Free annual subscription fee of up to two years after graduation (inclusive of graduation year)
• Deferred exemption fee payment (up to 24 months after graduation)

Setting up a Public Practice in Malaysia

Public practice is governed by the Act, the Rules and the By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants.

Under the Act, the person must be a member of the Institute, and is prohibited from public practice through a body corporate save where this is allowed by other statutes for limited areas of public practice, namely tax.

A member, in most instances, is allowed to be engaged in public practice as a sole practitioner or in partnership only with another member(s) as the Act and By-Laws prohibits the sharing of profits with non-members. All firms in public practice are described as firms of chartered accountants (or licensed accountants, where applicable).

Only members registered as chartered accountants with valid practising certificate can describe and hold themselves out as chartered accountants in public practice and are able to set up firms providing public practice services. Members in public practice may carry out public practice services such as accounting, audit, liquidation, tax and other related services. However, the practice of audit, liquidation and tax are licensed under other legislation.