Accountants are major key players in the business world. Every organisation relies on them to make effective financial decisions that can improve their business performance.

Accounting professionals may prepare financial documentation, ensure their clients’ activities comply with financial regulations, provide financial advice and manage taxation duties.

Accountants may also elevate their careers by becoming members of professional accounting bodies. This additional qualification may set them apart from other accountants in the eyes of hiring managers.

Some reputable organisations include the Malaysian Institute of Accountants (MIA), Association of Chartered Certified Accountants (ACCA), Institute of Chartered Accountants in England and Wales (ICAEW), Chartered Institute of Management Accountants (CIMA) and Certified Practising Accountant (CPA).

To gain membership, you need to fulfil specific requirements, such as having practical work experience and passing examinations. Some accounting courses in Malaysia offer exemptions to some of their examinations when you complete them. Exemptions will help shorten your journey to becoming a member. Passing examinations also requires sufficient knowledge, which you should obtain when you complete an accounting course.

Gaining a degree in accounting can help you start building your professional career. Having skills and knowledge in accounting allows you to work in various industries that require auditors, tax accountants, consultants, financial analysts and more.

What you will learn in accounting courses

Many accounting courses contain similar core subjects to ensure students gain the necessary skills to become competent professionals. Some of them include:

• Financial accounting: Learn about the systematic process of recording and summarising an organisation’s financial report for external parties, such as investors and creditors.
• Financial management: This area of study involves understanding the thorough planning and organising of a company’s financial activities.
• Taxation: Gain knowledge of the ways a government entity imposes a mandatory financial contribution on its residents and corporations. Some types of taxes in Malaysia include individual income tax, sales and service tax (SST), corporate tax and real property gains tax.
• Microeconomics: Examine how people and businesses allocate resources and set the prices of their goods and services. Students may learn about the law of supply and demand, production theory, labour economics and production costs.
• Macroeconomics: Obtain an understanding of how a country’s policies can affect its economy. This is used to help businesses make better decisions as they examine how their industries are impacted by nationwide economic trends.
• Business statistics: Attain skills in extracting and analysing data using statistical models to make economic decisions. Some concepts you may learn include hypothesis testing, basic probability and regression analysis.
• Auditing: Learn how to review and evaluate financial records to verify their fairness and accuracy.

Career opportunities in accounting

You can specialise in various areas as an accounting degree holder. If you are not clear about which path to take after graduation, here is a list of potential professions you can consider:

Loan officer

• A loan officer assists clients in applying for commercial and personal loans.
• They examine the clients’ credits, balance sheets and income levels to determine whether their loan application will be approved. They also ensure that the loan agreement adheres to the law.
• Average salary range: RM3,000 to RM4,000 monthly.

Internal auditor

• This position requires you to review an organisation’s financial documents to ensure they are accurate and compliant with the appropriate regulations.
• You will help find financial risks the company may face and recommend reducing them.
• Average salary range: RM3,800 to RM5,000 monthly.

Financial analyst

• A good financial analyst studies an organisation’s financial situation and economic trends to come up with strategies that can improve the company’s financial prospects.
• Some of their responsibilities include preparing reports, analysing financial data, forecasting and advising the company on making the right investment decisions.
• Average salary: RM3,450 to RM5,950 monthly.

Budget analyst

• As a budget analyst, you will review and develop a business’s budget.
• You will also check their expenditure to make sure funds are used appropriately.
• Average salary: RM4,000 to RM5,000 monthly.

Accountant

• In this role, you are responsible for the reporting of a company’s finances.
• Some duties include preparing financial reports, reconciling the organisation’s bookkeeping ledgers and bank statements, and handling tax obligations.
• Average salary: RM5,000 to RM6,800 monthly.

Tax accountant

• A tax accountant helps companies and individuals file their taxes. They ensure that their clients are following proper legal regulations and they are getting the maximum amount of tax return.
• They also provide advice on new tax laws, tax liabilities and legal tax savings.
• Average salary: RM6,100 to RM8,400 monthly.

If you pursue a master’s degree in accounting, you can aim for higher positions that offer higher salaries, such as:

Accounting manager

• As an accounting manager, you will monitor a company’s financial systems. You will lead a team of accountants to achieve operational and financial objectives.
• You will be managing internal controls to make sure that your company’s financial reports are accurate.
• Average salary: RM7,500 to RM10,000 monthly.

Financial controller

• A financial controller oversees all accounting-related activities for a company, including accounts receivable, accounts payable, billing, revenue recognition and more.
• They coordinate budgetary and financial forecasts, prepare accounting policies to improve internal controls and examine technical accounting issues for compliance.
• Average monthly salary: RM12,750 to RM15,250 monthly.

Chief Financial Officer (CFO)

• A CFO is the highest financial position in an organisation.
• They work together with the Chief Executive Officer (CEO) to examine financial reports, find investment opportunities and execute budget plans within the company.
• They may also prepare the company’s annual financial statement for shareholders and prospective investors.
• Average monthly salary: RM13,750 to RM16,250 monthly.

Top institutions offering accounting degrees

Undergraduate level

Postgraduate level

FAQs about accounting courses in Malaysia

Discover more about studying accounting

Earning an accounting degree can be a great first step to start your career or give you a competitive boost as a business professional. Upon graduation, you will be equipped with an in-demand financial skill set that is highly favoured by many companies. You can discover a wide range of accounting diplomas, bachelor’s degrees, master’s degrees and even doctorates in accounting at the top of this page.