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Did you know some of the first accountants were employed around 300 BC?
The history of accounting can be traced back to thousands of years ago - it is even said to have developed alongside writing and counting! Accounting has been linked to early civilisation in Mesopotamian times, although auditing systems appear to have been created by early Egyptians and Babylonians, while Romans seem to be the pioneers of detailed financial information.
As history went on, so did the modernisation of accounting - what was once just simple bookkeeping has now grown to become an integral part of the economy, its laws and regulations, and ethical practices. Nowadays, even members of society who have no knowledge of basic accounting can take up accounting classes at the higher education level.
How much will it cost to study in Malaysia?
Let's explore some of the accounting essentials, the accounting courses, the classes and the costs.
Is business accounting and financial accounting the same?
What is financial accounting?
When we talk about financial accounting, we are talking about a form of accounting that is required by law - this involves adhering to a set of standards that accountants need to apply when generating financial statements.
Malaysia practises the International Financial Reporting Standards (IFRS) for financial accounting, allowing regulators, investors, and tax authorities to have a consistent basis for reviewing the financial records of businesses and companies.
What about business accounting?
Also called managerial accounting, financial statements are created to serve business needs rather than meet regulatory accounting standards. Business accounting is not mandatory, and it is usually the larger companies that incorporate it into their business models.
By also making future projections and modelling activities, business accounting helps a company's management team make important business decisions and evaluate the company's performance.
And the difference?
Thus, although both these types of accounting generally involve the preparation of financial statements, business accounting looks towards supporting a business in making informed decisions, whereas financial accounting serves the general purpose of helping external parties evaluate the performance of the business.
Would you like to know more about the opportunities and prerequisites to become an accountant in Malaysia?
Types of accounting courses in Malaysia
Have you already set your mind towards studying an accounting course in Malaysia? You'll be happy to know that there are a variety of accounting courses offered throughout the country, which are popular in the following three categories.
Diploma in Accounting
With a diploma in accounting, you will be equipped with the skills and competencies of a middle-level accountant, including bookkeeping, financial accounting, income tax, and reporting standards. You can provide technical support in accounting, auditing and taxation for public and private sectors.
Colleges and universities in Malaysia offering diplomas related to accounting include:
- Tunku Abdul Rahman University College, Kuala Lumpur
- KDU University College, Shah Alam
- Asia Pacific University of Technology and Innovation (APU), Kuala Lumpur
- Universiti Tenaga Nasional (UNITEN), Kajang
Degree in Accounting
If you would like to become a professional accountant, getting a degree in accounting will teach you the knowledge of accounting theories and fundamentals in the field to help you succeed. A degree in accounting also opens up career opportunities in financial analysis, forensic accounting and investigation, and accounting information systems.
For accounting courses at the bachelor level, you can check out:
- Sunway University, Subang Jaya
- HELP University, Kuala Lumpur
- Monash University Malaysia, Subang Jaya
- Curtin University, Miri
Professional accounting qualifications
Perhaps you would like to specialise in accounting or gain membership with the Malaysian Institute of Accountants (MIA). In Malaysia, future accountants often develop their career through gaining the ACCA qualification, although other qualifications such as becoming a Certified Accounting Technician (CAT) and an accountant with The Chartered Institute of Management Accountants (CIMA) is also available in the country.
The higher education institutions below help students to earn professional accounting qualifications:
- Taylor's College, Sri Hartamas (ACCA)
- Sunway College, Ipoh (ACCA)
- KDU University College, Shah Alam (CAT)
- Tunku Abdul Rahman University College, Kuala Lumpur (CIMA)
Online resources to gear you towards gaining the ACCA qualification may be just what you need.
What is the cost of accounting courses in 2021?
A diploma in accounting can be pursued with a minimum of 3 credits in SPM or UEC. Being a 2-year course that teaches relevant accounting skills, accounting diplomas costs an average of RM24,000. Students taking a diploma will save more in tuition fees compared to accounting degree students.
Another advantage is that diploma students can start their career in accounting earlier than those taking a degree. As degree students need to take an additional 2 to 3 years of studying before working, diploma students can gain early exposure to the working world of accounting.
If you are keen on pursuing a bachelor's degree in accounting, you must be prepared to spend an average of RM 70,000 on tuition fees at a private university. However, the total average cost of pursuing a degree via foundation studies is around RM84,000 - this average increases to RM95,000 if you want to pursue your degree via other international pre-university courses such as A-Levels.
While the above fees pose no problem if you have set aside enough funds for a degree in accounting, you can also opt for studying for an accounting degree at a public university, which costs an average of only RM11,000 for a total of 3 years.
Let's say you've decided to go for professional accounting qualifications - how much will that cost? Pursuing a CAT qualification will cost you around RM14,000, which will give you the basic accounting knowledge to pursue ACCA qualifications and become a chartered accountant.
Along with sitting for the ACCA exam, the total cost of studying for the CAT and taking ACCA exams is around RM18,000. However, going for the CAT is a cost-effective way to complete your accounting education since you can also self-study for the ACCA exam!
Are you well-prepared for your accounting exams?
How many accounting classes are there?
What types of accounting classes will I study?
Most accounting courses will require that you study a set of compulsory subjects, especially in the first year of your degree. Classes related to financial accounting, laws in business, investment, finance, marketing, economics, and management principles are no exception.
For a better look at the syllabus for your accounting classes, here is the program structure of a 3-year Degree in Bachelor of Accounting with KDU University College (excluding MPU subjects). The subjects with asterisks represent ACCA qualification papers:
| Year of Study | Accounting Subjects |
|---|---|
| Year 1 | Business Law Company Law Financial Accounting Management Accounting 1 Principles of Economics Principles of Finance Principles of Management Quantitative Methods Oral Communication Writing & Referencing |
| Year 2 | Auditing Accounting Information System Financial Reporting 1 & 2 Management Accounting 2 Financial Management Introduction to Taxation Intermediate Taxation Principles of Marketing |
| Year 3 | Governance, Risk & Ethics* Advanced Audit & Assurance* Advanced Taxation* Business Analysis* Corporate Reporting 1 & 2* Public Sector Accounting Research Methodology Internship |
Here are some books to help you get ready for the ACCA qualification papers.
Where to find an accounting coach in Malaysia?
Are you looking for an accounting coach in Malaysia? Someone who can guide you through the theories and concepts of accounting? You may be on the lookout for the best accounting tutor in Malaysia.
What are the qualities of a good tutor?
We at Superprof believe that a good tutor is someone who is dedicated and passionate about teaching - a great tutor is someone who has proven successful learning outcomes time and time again. The Superprof Private Tutors page is a platform that connects experienced tutors to students - even if that tutor is an accounting coach!
Look for tutors offering accounting classes in Malaysia and get an immediate link to our Super Tutors, Experienced Tutors, and Superprof Ambassadors! You can find an accounting coach who suits your needs by visiting a tutor's profile - let the tutor tell you about himself/herself and his/her teaching experience, or read about what others have to say about the tutor.
Booking a lesson in accounting is super simple too - at an average price of only RM36! When you sign up with Superprof, you can contact any tutor of your choice to let them know you are interested. Tell the tutor whether you'd like to have your class in person or online, or if you'd like a group class over a one-on-one session.
No time for a lesson during the weekdays? No worries! You can suggest a date and time suitable for you to have a lesson with your accounting coach - first lesson, kami belanja!
The platform that connects tutors and students
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