Every business that is currently running, or even a business that's just getting started, needs to answer these important questions:
How much of a product or service should the business provide and sell?
What is the cost of producing those goods or services?
What are the daily, monthly and yearly expenses of the business?
Is the business earning more income than expenses, or is it making losses and will likely close down?
The answers to these questions lie in the financial information of the business, which has everything to do with accounting! Let's get to know the opportunities and prerequisites to practise accounting in Malaysia.
What is accounting in general?
Often enough, when the layperson thinks of accounting, the first thing that comes to mind is recording cash or credit transactions and then arranging them into categories. However, accounting is much more than that!
The act of recording and categorising financial transactions is more accurately referred to as bookkeeping, which has also been argued to be a part of accounting. However, an accountant's job goes beyond these records as the profession also involves analysing the data from these transactions - this tells businesses and companies how well they are doing financially.
By reading this data, a company makes well-informed business decisions. The company may decide to improve old strategies or create new ones that will generate more income, or even reduce certain expenditures when planning for taxes. Coming up with business strategies and tax planning can also be part of accounting since it is the accountant who handles financial statements (i.e. reports that outline a company's financial information).
Several types of accounting exist - financial accounting, cost accounting, managerial accounting, tax accounting and credit accounting are among the popular ones. Although they are considered different categories of accounting, they are interlinked: cost accounting, for instance, which involves an analysis of the costs associated with a product or service, is usually necessary before performing managerial accounting (generating financial statements for a company's internal use).
For those exploring pathways like ACCA, there are also reliable online resources in Malaysia that provide structured guidance and study support, making preparation more accessible.
How many accounting concepts are there?
What is accounting theory? How is it linked to the accounting concepts or principles?
When students study accounting theory, they are studying the history of accounting practices and how those practices have changed and got adapted into today's regulatory bodies, governing the way companies report their finances. Therefore, accounting theory provides students with the foundations and approaches for the study and application of financial reporting principles, or accounting concepts.
Accounting concepts are thus the basic assumptions or rules that form the groundwork for the recording of business transactions and account preparation. There are many accounting concepts that are universally accepted and used to help maintain uniformity and consistency in accounting records.
Here are four popular concepts of accounting:
- Business Entity: By assuming that a business and its owner are two separate and independent entities, the transactions of the business and the owner are kept separate as well. Accounting records are therefore made from the point of view of the business and not the owner.
- Money Measurement: All business transactions, including physical units such as land and office equipment, must be in terms of money. In practical terms, this means a country's currency, so, transactions that cannot be expressed in monetary terms are omitted from the business accounts.
- Going Concern: The idea that a business will continue to operate for an indefinite period of time provides a basis for showing the value of assets in the balance sheet. For instance, part of an asset that has been used during a period should be charged from the revenue of that period.
- Accounting Period: Referring to an interval of time for the preparation of financial statements, this allows profits or losses, and assets and liabilities of a business to be ascertained. Financial statements are thus prepared at regular intervals, usually after a one-year period.
For more accounting concepts, you can also find professional accounting tutors in Malaysia.
What type of accounting is financial accounting?
As mentioned earlier, there are several types of accounting - financial accounting is perhaps the most common one you've heard around.
Well, remember when we mentioned financial statements? To get a business going, it has to generate these statements for people outside of the company: investors, government agencies, auditors, potential buyers, and so on.
When this is done on an interim or annual basis, financial accounting measures the performance of a business, thus helping others learn about the company's financial status. If you'd like to know more about the different types of accounting, check out the best books to study ACCA in 2021!
Is ACCA too hard?
Good question. You probably know that you'll be learning more than just financial accounting when you take up ACCA, since gaining such a qualification is no easy task! How will you know where to start?
At an average price of only RM36, you can get quality tutoring for accounting and ACCA - right here at Superprof. The great thing about learning with a Superprof tutor is that you can choose between learning in-person or online - we're all about flexibility!
What's more, is the fact that you alone can decide which tutor you want to learn with - you heard us right: head on over to our Superprof Private Tutors page and see which tutors are offering accounting classes. Click on any tutor's profile that appeals to you and learn about our Super Tutors, Ambassadors, and Experienced Tutors.
Each tutor will tell you a little bit about themselves, plus their hourly rate, response time, and mode of teaching. You can also scroll down to read students' reviews or others' recommendations for your tutor. With Superprof, you can kickstart your accounting journey today!
Is ACCA better than an accounting degree?
Is ACCA equivalent to a degree? Both an accounting degree and the ACCA qualification are at the tertiary education level - let's make some clear distinctions between the two.
First and foremost, an accounting degree is similar to other degrees at the undergraduate level as it is awarded by a university. ACCA, on the other hand, is a professional accounting qualification awarded by a professional body.
Like other degrees, taking up an accounting degree will give you a more holistic experience as it involves extracurricular activities and elective subjects outside of the core subjects. With ACCA, you will only focus on studying subjects that involve the technical aspects and principles of accounting.
ACCA is also known to be more challenging than an accounting degree as it is a 100% paper-based exam that incorporates both the difficulty levels of a Bachelor's Degree and a Master's degree into one qualification. However, with ACCA, the time it takes to complete your studies is shorter and more flexible than an accounting degree, and the cost of studying is cheaper, too.
While an accounting degree is recognised in our country, it may not be recognised internationally (although that depends on your university). Meanwhile, an ACCA qualification is recognised in over 180 countries, including Malaysia. Still, a strong suit of an accounting degree is the ability to work in different career fields, as compared to ACCA members, who usually work in fields involving only accounting and finance.
Would you like to know more about the cost of studying ACCA in Malaysia? Here is a summary to help you weigh out the pros and cons of ACCA versus an accounting degree:
| ACCA | Accounting Degree |
|---|---|
| Awarded by ACCA, a professional accountant body | Awarded by university |
| Focuses on technical aspects and accounting principles | Studies on core accounting subjects but also other areas of interest |
| Difficulty level combines that of Bachelor's Degree and Master's Degree | Progressively challenging |
| Completed in about 3 years | Completed in about 4 to 5 years |
| Costs about RM15,000 to RM40,000 | Costs about RM40,000 to RM100,000 |
| Locally and internationally recognised | Locally recognised |
| Career fields in accounting and finance | Career fields in accounting, finance, and other branches |
Is accounting in demand in Malaysia?
Just this May, the Institute of Labour Market Information and Analysis (ILMIA) listed accountants as one of the top five hottest jobs in the country. It is therefore essential to know the best ways to prepare for the ACCA exam.
Being equipped with financial and accounting skills is a huge bonus in the job market, as companies need those with such skills to help them make critical business decisions. With an accounting degree or ACCA qualification, you can gain opportunities to work not only in accountancy firms, but also in places such as investment banks, insurance companies, management consultancies, or even any business looking for someone to fill in a slot in their accounting department (which is also in high demand).
Did you know that accountants are ranked fourth amongst the most in-demand professionals in Malaysia?
Along with the aim of Vision 2020 to produce at least 60,000 accountants in Malaysia, the demand for people with accounting skills continues to remain high in the market. If you are someone who is keen on understanding accounting concepts, along with a passion for analysing data and a dream career that supports vital business decisions, then studying accounting in Malaysia may just be the right choice for you!
ICAEW versus ACCA: Key Differences Explained
When considering professional pathways in Malaysia, two qualifications often come into the discussion: ICAEW and ACCA. Both are highly regarded, but each has its own structure, recognition, and approach to preparing learners. Understanding these distinctions helps students and young professionals make a decision that best suits their goals.
The easiest way to see the contrast is to look at them side by side. While both lead to respected careers, they differ in entry routes, global reach, examination styles, and membership requirements. Below is a clear breakdown:
Entry Route
- ICAEW usually requires candidates to start after completing prior study or through training with authorised employers.
- ACCA allows wider entry, with students able to begin directly after secondary school qualifications in Malaysia.
Exam Structure
- ICAEW assessments are spread across three stages, gradually building technical and applied knowledge.
- ACCA assessments follow a tiered system of applied knowledge, applied skills, and strategic professional modules.
Practical Experience
- ICAEW expects training to be completed with an approved employer, linking the study directly with work exposure.
- ACCA provides flexibility, allowing experience to be gained with a variety of organisations, not limited to one approved route.
Global Reach
- ICAEW has strong links within the United Kingdom and Commonwealth countries, giving recognition in those regions.
- ACCA offers a broader reach across Asia, including Malaysia, and is recognised in more countries worldwide.
Time to Qualify
- ICAEW typically takes three to five years, depending on work arrangements and study progress.
- ACCA can be completed in a similar period, though flexibility allows some students to finish faster or take longer.
Membership Benefits
- ICAEW membership provides access to a strong alumni base and close ties to employers within certain regions.
- ACCA membership offers wider global mobility, especially valuable in emerging markets such as Malaysia.
These points highlight that neither qualification is inherently better; rather, they suit different aspirations. ICAEW is often chosen by those who prefer structured training with employers, whereas ACCA appeals to individuals looking for flexible routes that fit diverse circumstances.
In Malaysia, both bodies are present and active, supporting students with learning resources, local events, and professional guidance. The decision often comes down to personal preference, study style, and long-term plans. Some may value the focused approach of ICAEW, while others find the open access of ACCA more practical.
To conclude, ICAEW and ACCA each bring unique strengths, and both are pathways that can lead to rewarding opportunities. For Malaysians considering these options, it is not about which is universally superior, but which aligns best with personal ambitions and circumstances. Taking time to evaluate entry criteria, examination style, and support networks will help ensure the choice made is the right one for the future.
ACCA Career Opportunities in Malaysia and Abroad
For many Malaysians, ACCA offers a recognised pathway to professional growth. The qualification is valued locally and internationally, giving learners a chance to work in a wide range of roles. By opening doors both within Malaysia and overseas, it allows flexibility and mobility that appeal to students aiming for long-term advancement.
To see how opportunities differ, it helps to compare the scope in Malaysia with that abroad. While the core qualification remains the same, the type of work, progression speed, and recognition vary depending on location. Below is a side-by-side look at the opportunities:
Scope in Malaysia
- Offers steady demand in both private firms and public sector organisations across major cities.
- Provides strong connections to local employers, with career fairs and networking events organised regularly.
Scope Abroad
- Opens doors in multinational firms, regional hubs, and international organisations.
- Allows mobility across continents, especially in countries where ACCA is fully recognised.
Role Variety in Malaysia
- Includes positions in audit, compliance, taxation, and advisory services.
- Emphasises roles suited to small and medium enterprises as well as larger corporations.
Role Variety Abroad
- Covers similar areas but often includes exposure to international regulations and global standards.
- Offers specialised roles in cross-border operations, mergers, and multinational reporting.
Progression in Malaysia
- Advancement can be steady, with opportunities to rise into leadership positions.
- Employers often provide structured training and mentorship programmes to support career growth.
Progression Abroad
- Offers rapid growth in some markets, especially where skilled professionals are in short supply.
- Provides broader chances to work with diverse teams, enhancing cultural and technical expertise.
Earnings in Malaysia
- Competitive salaries with clear incremental growth as experience builds up.
- Remuneration packages often include additional benefits such as allowances and performance bonuses.
Earnings Abroad
- Salaries can be higher depending on location, particularly in global financial hubs.
- Additional perks may include relocation support, housing allowances, or international travel.
From this comparison, it is clear that opportunities at home and abroad share many similarities, but also key differences. In Malaysia, the strength lies in a stable demand and supportive networks, while abroad, the focus is often on rapid exposure and international mobility. Both paths can be equally rewarding, depending on personal ambitions and lifestyle choices.
In conclusion, an ACCA qualification equips Malaysians with a versatile toolkit that is respected globally. Choosing to remain in Malaysia offers stability and local relevance, while exploring roles abroad can bring broader horizons and faster progression. Ultimately, the decision rests on individual preferences, but either choice ensures a pathway that is recognised and valued across the world.
ACCA Passing Rate: How Difficult Is It to Qualify?
Many Malaysians wonder just how tough the ACCA exams really are. Recent official figures help shed light on this. Results from mid-2025 show varied success rates across different subjects, highlighting that while some tests tend to be more accessible, others remain challenging. This gives candidates a practical sense of the level of effort needed to succeed.
It's helpful to compare the easier and harder papers side by side to see where many candidates find traction and where they stumble. Here's a balanced look:
Commonly Scored Well
- Entry-level BT saw a high pass rate of around 88%, showing strong familiarity with this material.
- In the same sitting, applied-skills LW achieved about 81%, suggesting a solid grasp of legal-related topics.
Moderately Challenging
- MA fell around 64%, and FA recorded roughly 68%, indicating that mid-level theory may require more effort.
- FR and FM were close to 50%, showing a noticeable drop in success in integrative, analytical tasks.
More Demanding Papers
- PM had one of the lowest outcomes at around 43%, making it a common stumbling block.
- AA was similar, at roughly 44%, signalling that assurance-related content may demand more preparation.
Final-Stage Complexity
- At the strategic stage, SBL averaged about 51%, and SBR near 49%, showing moderate difficulty.
- Among the optional advanced papers, AAA, APM, and AFM ranged in the high 30s to mid-40s, highlighting heightened challenge.
This snapshot from June 2025 confirms that pass rates vary significantly, with early-level tests being more accessible and higher-level ones demanding greater depth of study.
| Qualification Level | Paper Code | Main Title | Pass Rate (%) |
|---|---|---|---|
| Applied Knowledge | BT | Business & Technology | 88 |
| Applied Knowledge | FA | Financial Accounting | 68 |
| Applied Knowledge | MA | Management Accounting | 64 |
| Applied Skills | LW | Corporate and Business Law | 81 |
| Applied Skills | TX | Taxation | 54 |
| Applied Skills | FR | Financial Reporting | 50 |
| Applied Skills | PM | Performance Management | 43 |
| Applied Skills | FM | Financial Management | 48 |
| Applied Skills | AA | Audit and Assurance | 44 |
| Strategic Professional – Essentials | SBL | Strategic Business Leader | 51 |
| Strategic Professional – Essentials | SBR | Strategic Business Reporting | 49 |
| Strategic Professional – Options | AAA | Advanced Audit and Assurance | 40 |
| Strategic Professional – Options | AFM | Advanced Financial Management | 46 |
| Strategic Professional – Options | APM | Advanced Performance Management | 40 |
| Strategic Professional – Options | ATX | Advanced Taxation | 49 |
In Malaysia, these figures translate into a real insight: foundational exams offer encouragement and clear targets, whereas later stages require structured practice, analysis, and application. Several students report improved outcomes when using ACCA's tools like the Practice Platform and Study Hub.
In summary, qualifying through ACCA is manageable with a well-planned approach. Basic stages offer good chances for success, while advanced papers need focused revision. For students in Malaysia, taking advantage of local tuition providers, study groups, and ACCA-approved resources can make a significant difference. The key is awareness of the relative difficulty across levels and preparing accordingly — with effort, progress is certainly achievable.
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