There are many pathways to an accounting career . You have many options to choose from. Since accounting covers such a broad field with many areas to specialise in, it is good for you to research regarding the different certificates and courses available, what is the format of the exams and most importantly, which pathway suits your specific needs. It is best to explore your options before you join a university or college to ensure that the pathway you chose is aligned with your goals.
It is good to read up on what is accounting, the role of accounting in a business before moving forward to give you a general idea of what you are pursuing and if it holds your interest.
Are you aware of what the AATis? What is the exam format for ACCA? What are the pre-requisite required to pursue CIMA?
If you are interested in accounting and want to know more, do read Everything You Need to Know About Accounting.
Since accounting is so broad, have you decided which area sparks your interest? All these are important questions to ponder before making a decision. Accountants of all levels generally need a minimum level of education, so let's discover what you need to study in order to become qualified accountant and what your options are thereafter.
Pathway to Accounting Career
You can join the accounting industry without a degree qualification, working in entry level positions like accounting clerk or bookkeeper. However, if you would like to progress further, you must pursue higher qualifications.
As you know, there are minimum qualifications required to join the accounting industry like AAT.
Generally, majority of students in Malaysia complete Sijil Pelajaran Malaysia (SPM) if they are from public school. Others who joined international school will complete O’levels. After that, you have a choice of taking pre-university courses such as A-levels, STPM or a foundation course. Then, a Degree in Accounting can be pursued with this qualification. Alternatively, you can pursue Diploma in Accounting after O’levels or SPM. This will enable you to pursue a Degree in Accounting, going directly to Year 2.
The subject requirement to pursue accounting might differ according to which university and programme you choose. Some universities may require a high grade for mathematics or business subjects. However, this depends on where you choose to apply.
As you know, there are minimum qualifications which covers the basics of accounting. However, if you have A-level’s, diploma or degree in accounting qualifications, your path to become a qualified accountant will be much faster as you may receive exemption for certain subjects because you have the relevant knowledge and skills.
A degree in accounting will equip you with useful knowledge not only about accounting theories but you will also learn a little regarding finance, marketing, business law and other related subjects to give you a well rounded experience. The qualification granted by the professional accounting institute on the other hand exposes you to the technical aspects and principles of accounting that are required of a professional accountant. This will pave the was to a successful career in the accounting industry.
We will look at the different institutes that can help mould your career in accounting below, but first, let's see what degrees or diplomas you might like to think about before specialising and how long you will be tied to them.
- Diploma: Up to two years
- Bachelor’s Degree: Up to four years
- Master’s in Accounting: Up to two years
Minimum Qualification Required for Accounting
While there are many pathways towards accounting, certification is a must to join the accounting industry. AAT (Association of Accounting Technicians) qualifications is the minimum prerequisite qualification to be work in the accounting line in Malaysia.
AAT qualification is the first step into an accounting career for those without any previous experience. It is made up of various optional certificates, with basic or foundation ones all the way to a level 4 qualification.
The members of AAT are able to use the designatory letters (MAAT) after their names upon completion of level 4 and work in the accounting industry.
AAT accounting qualifications give you the necessary accounting foundational studies to pursue professional accounting degrees such as ACCA, CIMA or ICAEW. You will gain exemptions which will shorten the duration of your studies significantly.
This qualification is suitable for both school leavers after SPM or even working adults who are looking to change career.
Do you know what are the golden rules of accounting?
Getting Accredited by Renowned Accounting Institute
As we know, there are many different pathways to become an accountant. However, in order to become a qualified accountant which will lead to more opportunities, is by becoming a member of one of the recognised accounting institutes.
Below are just two examples of the accounting institutes that can offer you accreditation in your chosen area of study and work.
CIMA
Chartered Institute of Management Accountants (CIMA) is the world’s largest professional body of management accountants. It offers its candidates a mix of accounting and management expertise.
Graduates in any degree discipline can study CIMA. However, if you have completed a relevant degree, you are eligible for exemptions.
Why Choose CIMA?
CIMA is considered to be both business and accounting qualification. This is because, you get the opportunity not only to study management, accounting and financial accounting but to gain business skills like leadership and people skills. This will lead to CIMA students being well rounded in both environments.
As CIMA is the biggest professional body in the management accounting area, it is globally recognised and held in high regards. Therefore, having this qualifications will help you in securing a position in any reputable organisation of your choice almost anywhere in the world.
Being a CIMA graduate automatically makes you a qualified professional. This is due to the knowledge and skills you have gained which will enable you to negotiate and demand the appropriate salary in you career. This will also allow you to climb the corporate ladder.
CIMA EXAM
There are over 6000 exam centres available across the world for you to choose from if you wish to sit for CIMA exam. CIMA strives to make it as convenient as possible for its students to pursue its programme.
The CIMA exam or formally known as the professional qualification has three levels which are operational, management and strategic. In each level, there are 3 pillars: Enterprise pillar (E), Performance pillar (P) and Financial pillar (F). You can see the pillars as exam topics, covering organization management, management accounting and financial reporting respectively. This is a sequential exam, therefore you are required to complete one level before being allowed to move on to the next.
In each of the 3 levels, there are 3 objective tests, representing the 3 pillars. There is also one integrated case study in each level. So, in total, there are 12 tests or papers.
You are allowed to take the objective test for each level in any order. However, it is compulsory to pass all 3 before being allowed to take the case study exam in that level.
The objective tests is 90 minutes long and comprises of multiple choice questions. Case study exams on the other hand is 3 hours long and comprises of short answers and essay questions.
Objective Tests are available on demand and computer marked, so on completion of your Objective Test examination you will receive a provisional exam result of either ‘Pass’ or ‘Fail’ at most assessment centres.
You can schedule your exam by visiting their website.
ACCA
The Association of Chartered Certified Accountants (ACCA) is the global body for professional accountants. The primary focus of ACCA is technical accounting knowledge. Example of subjects covered in ACCA like financial accounting and management, taxation or auditing reflects this focus.
Why Choose ACCA?
Many in the accounting industry choose ACCA because it is globally recognised. The ACCA qualification is based on international accounting and auditing standards which makes its members highly sought after as they have the necessary knowledge and skills to work in any country.
Furthermore, ACCA’s flexibility allows you to choose if you want to study full time or part time. You can choose to work while you study or study full time. It depends on your convenience. You also can choose to study in a classroom or online or on your own with relevant study materials.
Since ACCA is globally recognised, the qualification is well supported everywhere including your own country. Moreover, ACCA has a huge global membership. This means you will have in-built community of peers to support you.
ACCA Exam
There are 13 papers to complete ACCA qualifications. These subjects and exams are divided into three categories: Applied Knowledge, Applied Skills & Strategic Professional. ACCA does provide up to 9 paper exemptions depending upon the candidate’s previous qualifications.
All ACCA exams are computer based exams (CBE). You have two options for sitting for exam which are on demand CBE or session CBE. On-demand CBEs allow for flexibility in your studies as you can sit for them at any time of the year. Your results are displayed immediately at the end of the exam and uploaded to your account within 72 hours.
Session CBEs on the other hand, takes place during four exam sessions in a year. These four sessions are in March, June, September and December. You’ll need to book your exam ahead of the deadline for each session and you’ll receive your results approximately 6 weeks after taking your exam.
ACCA aims to make it convenient for you to sit for exams. They have large number of centres worldwide and are expanding the availability of remote exams. Depending on your location you will sit at one of our exam centres or sit your exam at home by remote.
If you need assistance to prepare you for your exams you can take accounting lessons with a private tutor from Superprof.
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