ACCA Malaysia


Take your accounting degree to greater heights by looking into pursuing your studies in ACCA.

Accounting and finance are great choices for job security and global opportunities, but with ACCA, your worth doubles.

Read this article for ACCA insights.

What is ACCA?

The Association of Chartered Certified Accountants, or ACCA, is a leading international accounting body.

It is recognised globally and considered equivalent to local qualification in many countries.

With over 500,000 members and students in 170 countries, ACCA is the largest and fastest-growing qualification in the world.

To be part of this international body, you must sit for and pass a series of professional exams (13 papers in total).

You will enhance your knowledge in the accounting and finance field and master areas such as organisational management and strategy. 

Is ACCA recognized in Malaysia? 

One of the world’s most respected accounting certifications, the ACCA is widely accepted in Malaysia and worldwide.

ACCA requirements

There are three pathways that you can choose from to obtain ACCA recognition:

1.  SPM > Diploma in Accounting > ACCA

After completing your Sijil Pelajaran Malaysia (SPM) examination, you can enrol in a diploma in accounting which will allow you to skip three exam papers from the Applied Knowledge module and proceed directly to the Applied Skills modules.

2.  SPM > Diploma in Accounting > Degree in Accounting> ACCA

Suppose you have a degree in accounting before choosing to study ACCA. In that case, you may be eligible for exemption from 9 papers at the Fundamental Level  (Applied Knowledge and Skills) and head directly into the ACCA Strategic Professional module (Professional Level).

3.  SPM > Certified Accounting Technician (CAT) > ACCA

This pathway is the fastest among all three as it can be completed as quickly as three years. You may be exempted from the ACCA Applied Knowledge papers with the CAT qualification.

Besides completing and passing the written examinations, students must also complete three years of working per Practical Experience Requirement (PER).

With the fulfilment of the above, you can be a qualified ACCA member with practical experience. 

There is no specified timing for completing the work experience. It can be done before, during or after your examinations. 

ACCA exam structure

ACCA exam structure
Photo by olia danilevich from Pexels

There are a total of 13 papers to be completed in the ACCA structure, and this is divided into three parts:

  • Part I – Applied Knowledge
  • Part II – Applied Skills
  • Part III – Strategic Professional.

ACCA exam papers

The first part of the ACCA examination is Applied Knowledge, and there are three papers to be completed here:

  • Business and Technology (BT)
  • Management Accounting (MA)
  • Financial Accounting (FA)

The second part of the ACCA examination is Applied Skills which has a total of 6 papers to be completed: 

  • Corporate and Business Law (LW)
  • Performance Management (PM)
  • Taxation (TX)
  • Financial Reporting (FR)
  • Audit and Assurance (AA) and
  • Financial Management

These papers build your knowledge and understanding of accounting and finance, ensuring strong and practical skills needed to excel as a professional accountant regardless of industry type.

Finally,  there are 4 Strategic Professional papers – two papers are essential and two optional (choose 2 out of 4 papers).

These papers aim to prepare you for future leadership roles and thus, focus on technical, ethical and professional skills. Here is when you choose the area you would like to specialise in.

Essential Papers:

  • Strategic Business Leader (SBL)
  • Strategic Business Reporting (SBR)

Optional Papers:

  • Advanced Financial Management (AFM)
  • Advanced Performance Management (APM)
  • Advanced Taxation (ATX)
  • Advanced Audit and Assurance (AAA)

Why study ACCA?

An ACCA qualification proves to employers that you can handle all accounting aspects of a business. Here’s why you should consider doing your ACCA. 

Recognized globally 

ACCA is globally recognised and thus, enables you to land a job easily in Malaysia and other parts of the world.

Build a better career

Having ACCA on your resume would make it look a lot better, and the chances of you landing a job will be higher.

Not only that but getting the career development you have always dreamt of will also be more feasible as you are constantly learning and enhancing your skills in this international association.

Flexibility

The ACCA examinations are in June and December. Hence, if you’re working, you could still enrol and complete ACCA.

Furthermore, you have ten years to complete the course once registered. So, you can always pace out the papers and do it when time permits.

Accounting ACCA
Photo by olia danilevich

Inexpensive 

ACCA is affordable and relatively inexpensive compared to many other courses and once completed, you will be knowledgeable in accounting and finance. 

Besides that, you will also have valuable organizational and strategic management skills that will make you highly sought after. 

Continued professional development

As a member of the ACCA, one must continue to develop their professional skills throughout their lives. This helps to keep members’ knowledge and skills up to date. Therefore, ACCA members can work in fast-paced and rapidly changing environments.

Is ACCA the right course for you?

  • Do you like numbers?
  • Are your English and Mathematics grades good?
  • Are you an organised and meticulous person?
  • Are you an ethical person with critical analytical skills?
  • Do you aspire to work in big companies globally?
  • Do you want a certification from an international professional body?

If you have answered ‘yes’ to most of these questions, then ACCA may be your path.

ACCA career options

Once you have completed your ACCA, you have opened the doors to various job opportunities in the accounting and finance services, such as:

  • Auditor
  • Business Analyst
  • Budget Analyst
  • Credit Analyst
  • Internal Audit Associate
  • Investment Banker
  • Financial Accountant
  • Fund Manager
  • Management Accountant
  • Research Analyst
  • Tax Consultant

Is ACCA equal to MBA? 

Master’s degrees in business are known as MBAs. On the other hand, ACCA certification is geared toward undergraduates and can often be completed while pursuing a BA or BSc degree. Thus, an ACCA is not equivalent to an MBA. 

ACCA Malaysia salary

The salary of a person with an ACCA qualification differs depending on your role in a company.

You can start as a financial accountant with a salary of approximately RM3,000 and go above RM15,000 as a CFO (Chief Financial Officer).

Is ACCA very difficult?  

Once you have passed and gained ACCA qualifications, you are in a different league altogether. You are in a prestigious association, and to maintain its standard, it is a fact that the ACCA examination can be tough and challenging.

Employers recognise this fact and the commitment and effort a student puts in to pass these exams. This also shows that you are committed to your career.

However, the saying goes, ‘Nothing comes easy in life’. ACCA may be difficult, but it will surely pay off if you put in the time and effort.

How long does it take to complete ACCA? 

Many people take around two to three years to complete ACCA, but you have ten years to complete 13 papers once registered as a student.

How much does ACCA cost in Malaysia?

ACCA costs may differ according to the different institutes that offer them here in Malaysia. But, on average, it would cost about RM23,250 in UOW Malaysia KDU.

Where to study ACCA in Malaysia? 

UOW Malaysia KDU would be a great option to study ACCA in Malaysia. This is because it is an established institution in Malaysia well-known for producing high-quality graduates.

Besides that, UOW Malaysia KDU has also been awarded the ACCA Approved Learning Partner – Platinum Status, another great reason to enrol for your ACCA course.

Finally, UOW Malaysia KDU also offers great opportunities to their students through corporate and government sponsorship and job placements with reputable accounting firms.  

Conclusion

If you love numbers and would like some challenge, consider taking up ACCA course.

It will mold you into an all-rounder to face the fast-paced and rapidly changing environment, and you will also be successful in the corporate world.

Leave us a message or chat with us to clear your minds off any questions you have. 

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06 July 2022

CATEGORY

Education and Career