Ten of Malaysia’s Top Private Universities for Accounting & Finance for Students to Choose from
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 or in the financial services in Malaysia.
- University of Nottingham Malaysia Campus
- Heriot-Watt University Malaysia
- Monash University
- Taylor’s University
- Multimedia University (MMU)
- University of Wollongong UOW) Malaysia KDU, Utropolis Glenmarie
- First City University College
- HELP University
- Asia Pacific University (APU)
- UOWM KDU Penang
In order to succeed in the competitive field of accounting & finance, 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.
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.
You might also be interested in:
- Best Universities in Malaysia for Top Accounting & Finance Courses
- Best Accounting Degree Courses with ACCA Accelerated Programme at Top Universities in Malaysia
- Best Accounting Degree Courses with Exemptions from Top Professional Bodies in Malaysia
- Best Accounting Degree Courses Offered by Top Ranked Private Universities & Colleges in Malaysia
- Top Accountancy Universities in Malaysia
- Best Recommended Education Pathway to Become a Chartered Accountant in Malaysia
- Studying ACCA Professional Papers vs Accounting Degree in Malaysia
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Top Private Universities & Colleges in Malaysia to Study Accounting & Finance
Money makes the world go round and it will always need its accounting and finance professionals. Of course, accountants and finance professionals have to keep up with technological advancements and stay up-to-date, but the profession is not likely to expire anytime soon.
Accountants record, classify, summarise, interpret and communicate the financial information about a business. This can be applied to any company, in any field, industry or sector that you can think of. Better still, you could be working across a number of industries in Malaysia or globally.
Accounting is the language of business – an international language that will take you places. Accounting is about providing facts and information systems, and helping others understand those systems, so they’re equipped to plan and make decisions.
On the other hand, Finance is about deciding how money is spent in the real world. Every person and every organisation raises and spends money. Finance examines the theory and practice of this process, with particular attention to the measurement and management of risk.
A degree that combines the best of both Accounting & Finance will open a wide variety of career opportunities for you.
What is Accounting & Finance?
Basically, Accounting is the recording, maintaining, and reporting of a company’s financial records. 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.
On the other hand, Finance is the management of money and investments for individuals, corporations, and governments. Finance professionals work in careers such as investment banking, wealth management, and financial planning and analysis. Finance professionals are responsible for ensuring that there is adequate funding for the needs of the situation and that the funds are allocated as optimally as possible. Their job is to create value by managing capital in a way that earns higher than expected risk-adjusted returns. They can work for individuals or companies.
When studying the degree in Accounting & Finance, you are basically studying a combination of both subject areas. Choosing to study in either accounting or finance, you are more focussed in these areas while the Accounting & Finance course is broader allowing you more opportunities. 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.
Both accounting and finance professionals have clients that are individuals, corporations (businesses), governments, and non-profits. When it comes to their employers, however, there are significant differences. The advantage of graduating with an Accounting & Finance degree, you are able to work at both areas. The most common types of employers for each group are listed below.
- Banks (retail, commercial, and investment)
- Insurance companies
- Research companies
- Operating companies (regular businesses)
- Public accounting firms (that audit large companies)
- Personal tax filing firm
- Operating companies (businesses)
ACCA Exemptions for Accounting or Accounting & Finance Degrees in Malaysia
Presently, Malaysia has about 7.5 million Accountants. The country requires another 60,000 Accountants to fulfill Vision 2020. All Accountants have to abide by a strict code of ethics and maintain high professional standards.
All practising accountants must register with the Malaysian Institute of Accountants (MIA). The Accountant Act, 1967 recognises an Accountant as one who is a member of MIA. MIA members can either be registered as Registered Accountants, RA(M) or Public Accountants, PA(M).
Upon completion of the accounting degree programmes, 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.
After SPM, with 5 credits, students can go into the Foundation in Business for a year and then continue into the 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 to join the diploma. After your degree, you can find a job and then take the final papers of the ACCA part time.
Generally, an Accounting 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.
A maximum of nine papers at the Fundamentals level of the ACCA Qualification can be awarded. To preserve the integrity and rigour of the ACCA Qualification and to ensure that all students share a common experience, ACCA does not award any exemptions at the Professional level.
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.
ACCA PROFESSIONAL LEVEL (Final 5 papers)
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
Suggested accounting & finance pathway for students in Malaysia with weak English
However, as we all know, the standard of English in Malaysia has dropped a lot. Some students thinking of going for accounting go into CAT and then the ACCA not realising that both are external papers and marked by the UK examiners.
Therefore, although these students may be capable in their knowledge but their weakness in the English language to write properly during the exams will lead them to fail these papers. Furthermore, the final 5 papers of the ACCA are not easy and if you attempt these papers while you are too young, can be challenging.
I would suggest that students go into an accounting degree programme first where the degree is exempted from the 9 papers of the ACCA. Upon graduation, you find a job and then take the final 5 papers of the ACCA to become a professional accountant.
In choosing the university or college for the degree, you should go for a university where the students speak English mostly. Research by Star newspaper has shown that graduates with good command of the English language tend to get a higher salary (25%) and faster promotion.
A lot of students like the easy way out and choose colleges and universities that are cheap and lacking in quality and facilities thinking that as long as they just get the qualification, they are alright. They forget that if the quality of the university is low, the student’s quality will also be low when they graduate. You won’t have the necessary knowledge and skills to succeed in the working world. Not being able to speak English well, you won’t be able to become a manager in a Multi National Company.
The management will not ask you to give a presentation if you cannot speak well and furthermore how are you going to be able to write a report? When you become an auditor, you will need to communicate with your client in English as well as your report.