List of Top Private Universities in Malaysia Offering the Accounting Degree Programme with Exemptions from Professional Bodies
The importance of the role of professional accountants in business in ensuring the quality of financial reporting cannot be overly emphasized. Professional accountants in business often find themselves being at the frontline of safeguarding the integrity of financial reporting. Management is responsible for the financial information produced by the company. As such, professional accountants in businesses therefore have the task of defending the quality of financial reporting right at the source where the numbers and figures are produced.
The term ‘Accountant’ is protected in Malaysia under the Accountants Act 1967 which indicates that no one can offer oneself out or practise as an accountant unless he is a member of the Malaysian Institute of Accountant (MIA). Therefore, a recognised degree as well as 3 years’ practical working experience approved by MIA OR a full member of a professional accountancy body is required to become a qualified Accountant.
One of the pathways to completing the Accounting Professional Papers is going for an Accounting degree that has exemptions from the professional papers. Top accounting degree programmes at the best private universities in Malaysia would have paper exemptions from professional bodies such as ACCA, CIMA, CPA Australia, ICAEW and MICPA. Generally, an Accounting degree from a university can gain 9 paper exemptions until the final 4 papers of the ACCA. A maximum of nine papers at the Fundamentals level of the ACCA Qualification can be awarded.
A solid education experience within an English-speaking student environment at a top private university in Malaysia for your accounting degree programme will set you on your way to a successful career.
While it can be difficult to choose between private universities or colleges in Malaysia offering the Accounting Degree Course, you will find that there are some key differences between them that can help you make the big decision in choosing the right one that fits you. The best private universities and colleges in Malaysia have excellent facilities, years of experience running the Accounting degree course, strong student support services, internships and experienced lecturers.
Read more below on the details of the best universities in Malaysia for the Accounting degree courses:
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Top Accounting Degree Programmes in Malaysia with Exemptions from Professional Bodies
Julian Hum, Graduated in Accounting from Asia Pacific University (APU).
Presently, Malaysia has about 7.5 million Accountants. The country requires another 60,000 Accountants. A career in Accounting 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 Accounting degree.
In order to succeed in the competitive field of accounting, students must choose the best universities in Malaysia to study. 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.
To be a registered chartered accountant in Malaysia, you must be a member of the Malaysian Institute of Accountants (MIA), which is the regulatory body for accountants in Malaysia. Members of ACCA, CIMA, CPA Australia, ICAA, ICAEW and MICPA are eligible for MIA membership.
The Malaysian Institute of Accountants (MIA)
Under the Accountants Act of 1967, MIA is responsible for
- (a) determining the qualifications for admission as members of the institute;
- (b) providing for the training and education by MIA for individuals who wish to practice in the accountancy profession;
- (c) approving, regulating, and supervising the examinations;
- (d) regulating the accountancy profession in Malaysia; and
- (e) promoting the interests of the accountancy profession.
In addition, under the Act, MIA is authorized to establish ethical requirements and an investigative and disciplinary (I&D) mechanism. Under the By-laws of the institute, MIA has also established a quality assurance mechanism.
The Accountants Act stipulates that no person shall practice or declare themselves as either a Chartered Accountant or licensed accountant unless registered with MIA. MIA confers the Chartered Accountant qualification and membership with the institute is mandatory for individuals who wish to practice in Malaysia. In addition to being a Member of IFAC, MIA is also a member of the ASEAN Federation of Accountants (AFA).
Popular Professional Recognition for Accountants in Malaysia
- Association of Chartered Certified Accountants (ACCA), UK
- Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA). It has 240,952 members and 541,930 future members worldwide.
- Chartered Certified Accountant is the professional body’s main qualification. Following completion of up to 13 professional examinations, three years of supervised, relevant accounting experience and an ethics module, it enables an individual to become a Chartered Certified Accountant.
- Upon completion of an Accounting degree, students are eligible for exemption from a maximum of 9 papers.
- Chartered Institute of Management Accountants (CIMA)
- CIMA is the world’s largest professional body of management accountants offering the most relevant accounting qualification for a career in business.
- The Chartered Institute of Management Accountants (CIMA) is the global professional management accounting body based in the UK. CIMA offers training and qualification in management accountancy and related subjects. It is focused on accountants working in industry and provides ongoing support and training for members.
- Students who are undergoing the Accounting degree are entitled to a 5-paper exemption out of 8 papers from CTIM.
- Certified Practising Accountant (CPA), Australia
- A Certified Practising Accountant (CPA) is a finance, accounting and business professional with a specific qualification. Being a CPA is a mark of high professional competence. It indicates a soundness in depth, breadth and quality of accountancy knowledge. CPAs are highly respected by employers and members.
- Upon completion of an Accounting degree, students are exempted from the Foundation Level and they can proceed with the Professional pathway (6 subjects).
- Institute of Chartered Accountants in England and Wales (ICAEW)
- There are over 1.8m chartered accountants and students around the world − talented, ethical and committed professionals who use their expertise to ensure we have a successful and sustainable future.
- More than 198,500 of these are ICAEW Chartered Accountants and students. They train, develop and support each one of them so that they have the knowledge and values to help build local and global economies that are sustainable, accountable and fair.
- ICAEW has been at the heart of the accountancy profession since they were founded in 1880 to ensure trust in business.
- Graduates may obtain up to 8 paper exemptions
- Malaysian Institute of Accountants (MIA)
- MIA is a statutory body established under the Accountants Act 1967, with a mandate to regulate and develop the accountancy profession in Malaysia to support nation building.
- MIA accords the Chartered Accountant Malaysia or “C.A.(M)” designation. Working closely alongside businesses, MIA connects its membership to a wide range of information and resources, events, professional development and networking opportunities.
- Presently, there are more than 38,000 members making their strides in businesses across all industries in Malaysia and around the world.
- Upon completion of the Accounting degree with 3 years relevant working experience plus completion of Professional qualification (ACCA or CPA), students are eligible to apply for membership of the MIA.
Exemptions from Professional Bodies for the Accounting Degree at Private Universities
Graduates are eligible to apply exemptions from international Professional bodies:
- ACCA: up to 9 papers
- CPA: Up to 6 papers
- ICAEW: up to 8 papers
- CIMA: up to 8 papers
What will you Study in an Accounting Degree at a Private University in Malaysia?
- Principles of Accounting
- Fundamentals of Finance
- Introduction to Economics
- Management in a Global Context
- Financial Accounting
- Management Accounting in Organisations
- Finance and Financial Statistics
- Financial Markets Theory
- Auditing and Assurance
- Corporate Financial Theory
- Taxation in Malaysia
- Strategic Management
- Managerial Accounting: Decision Making
- Agency Theory and Corporate Governance
- Case Studies in Financial Management
- International Accounting
- Corporate Reporting
- Contemporary Issues in Finance
- Financial Accounting
- Accounting Information System
- Business Economics
- Business Law
- Marketing
- Fundamentals of Entrepreneurship
- Essential of FinTech
- Advanced Financial Accounting
- Introduction to Taxation
- Financial Management
- Cost and Management Accounting
- Auditing and Assurance
- Integrated Business Processes with SAP ERP System
- Corporate Reporting
- Business Research Methods
- Management Accounting Techniques
- Company Law
- Strategic and Sustainable Accounting
- Advanced Auditing
- Financial Risk Management
- Forensic Accounting
- Public Sector Accounting
- Financial Modelling
- Investigation in Accounting and Finance
- Accounting & Finance Project
Accounting Education Pathway
Vincent Yeoh, Accounting & Finance at Asia Pacific University (APU)
With at least 5 credits in SPM or IGCSE/O-Levels students can go for the Foundation in Arts or Foundation in Business at the best private universities in Malaysia.
After that, they can enter into the 3-year accounting degree programme. Alternatively, students with 3 credits in SPM or IGCSE/O-Levels may enter into the Diploma in Accounting for 2 years.
Upon completion of the Diploma, students can enter into Year 2 of the Accounting Degree with advanced standing.
Students who are not sure of what to study after SPM or IGCSE/O-Levels can contact EduSpiral Consultant Services to help guide you to choose the right course and university in Malaysia. At EduSpiral Consultant Services, we have counseled and helped thousands of students to choose the right course and private university to study in Malaysia.
Students who are weak in English should go for an accounting degree at a top private university in Malaysia where the degree is exempted from the Accounting Professional Papers. Upon graduation, you find a job and then take the final papers to become a chartered accountant.
I would recommend students who are weak in the English language to go for the accounting degree course first and then only pursue the Accounting Professional Papers.