Do you have an aptitude for numbers?

Do you prefer working in a structured setting with clear rules?

If yes, then you may want to consider a career in accounting.

Accounting refers to the process of recording financial transactions. This includes analysing, storing, and summarizing transactions in financial reports. Accountants are needed for business organisations to function.

On a personal level, accounting skills can help you manage your personal finances such as budgeting your groceries. On a professional level, you can help companies handle many crucial tasks. You will analyse accounting records, prepare financial statements (reports that show how well a company is performing financially), and provide recommendations to help companies make sound business decisions.

There are various types of accounting, so let’s explore the main ones below.

• Financial Accounting
Financial accounting is about recording and summarising financial transactions accurately in financial reports while following strict guidelines. This also involves external reporting, which provides financial information to parties outside the organisation such as investors, creditors and regulators.


• Managerial Accounting
This field focuses on budgeting, performing cost analysis, and providing financial information to help managers make business decisions. Reports made are for internal use rather than the public.


• Tax Accounting
Tax accountants help companies and individuals file tax returns and provide consulting services while abiding by the laws enforced by the Inland Revenue Board of Malaysia.


• Auditing
Auditing refers to the examination of accounting information. It comes in two forms: external audit and internal audit. External auditing is a financial review of a company’s business records conducted by an external party (e.g. audit firms) to ensure records are fair and accurate. On the other hand, internal auditing is about reviewing a company’s accounting and financial processes to identify areas of risk and improve systems. It is usually done by a company’s own team of internal auditors.

1. Develop a Better Understanding of the Business Field
Financial accounting is about recording and summarising financial transactions accurately in financial reports while following strict guidelines. This also involves external reporting, which provides financial information to parties outside the organisation such as investors, creditors and regulators.


2. Gain Transferable Skill Sets
By studying Accounting, you can equip yourself with many desirable skills, such as critical thinking, organisational skills, and the ability to pay attention to details. Whether you seek to advance your career, change career paths, or start your own business, having accounting knowledge can boost your professional development.


3. Career Possibilities in Different Industries
As every organisation needs accountants, you have the freedom to develop your career in various industries. Want to work in tourism & hospitality, education, healthcare, or F&B? Your Accounting degree allows you to do just that!

1. Diploma in Accounting
If you want to pursue a Diploma in Accounting, take note of the following general entry requirements:
• SPM / O-Levels: Min. 3 credits including Mathematics and a pass in English
• UEC: 3Bs

*SPM Holders must have a pass in Bahasa Melayu and Sejarah.

A Diploma in Accounting takes roughly 2 – 2.5 years to complete, and you can enter the workforce after graduation. If you choose to pursue a Degree in Accounting after Diploma, you can start from Year 2 of the Degree.


2. Bachelor of Accounting
SPM / O-Level students need to complete Pre-U before enrolling in a Bachelor of Accounting programme. The entry requirements you need to fulfil are as follows:
• A-Levels: Min. 2Ds
• STPM: Min. 2C+s
• Foundation in Arts: Min. CGPA of 2.50
• Diploma: Min. CGPA of 2.50

*You also need to have at least a credit in Mathematics and a pass in English at SPM level.

UEC students generally need to obtain a minimum of 5Bs including Mathematics and a pass in English.

A Bachelor of Accounting programme is about 3 years long. After graduation, you can enter the workforce to gain work experience, or start your next journey in obtaining your professional accounting certification (e.g. ACCA).

As entry requirements may vary between universities, reach out to us for clarification before you apply!

These are some of the skills you need to perform well in your Accounting course:

1. Analytical and Organisation Skills
Accounting involves a lot of analysis because as an accountant, you always need to look at the data to check for errors, understand how things went wrong and find ways to solve problems. Having the ability to organise numbers and concepts will help you go a long way.


2. Mathematical Skills
While you don’t need to be a calculus genius to do accounting, you still need to have a solid foundation in Maths and be comfortable in dealing with numbers.


3. Good Time Management
Being able to manage your time well is crucial because accountants must meet tight monthly and year-end deadlines for purposes such as tax-filling and auditing.

Here is a list of careers within the field of Accounting:

• Accountant
• Auditor
• Tax Accountant
• Financial Analyst
• Accounts Manager
• Financial Manager

Now that you’ve read this post, you have a better idea about the pathway to study Accounting. The next step is figuring out the right universities to pursue your studies while meeting other needs you might have (e.g. budget, scholarships, accommodation).

We can help you with that – for FREE!

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