The Complete Guide To Study Accounting and Finance in Malaysia

This program provides subjects related to accounting and finance, combining systematic recording and processing of financial transactions and their investment of funds or management. In as much as three years, competency in different modalities of business is attained and some requested universities include Taylor’s and Sunway. Graduates can explore the fields of public finance, chartered accountant, or financial management.

Country

Malaysia

Duration

3 Years

Fees

$7,500+ Yearly

Field

Bussiness

Program Overview

Accounting and finance are two much closely related fields of education coming off a much broader realm of business and economics. While the two share many common grounds, they are both significant on their own and contribute to the foundational operations of a business. While accounting involves systematic financial transaction reporting, recording, and analysis, finance is more about the investment and management of funds. In Malaysia, accounting and finance are esteemed fields of education offered by various top-tier institutions under accredited programs. If you’re passionate about numbers and aiming to enroll in a prestigious accounting and finance degree program in Malaysia, this is the ultimate guide to help you achieve your academic dreams!

Program Brief

Studying accounting and finance in Malaysia could be your ideal academic move if you’re good with numbers and enjoy organizing and analyzing data. Both accounting and finance are foundational business functions, with professionals from the field always in demand at organizations of all sizes.

Accounting and finance programs allow students to enhance their professional skills and work with major organizations worldwide. While the two fields overlap in many ways, Malaysian universities provide separate programs for each, allowing students to specialize in their areas of interest. Accounting programs focus on understanding and analyzing a company’s financial position, whereas finance programs concentrate on money management.

Studying an accounting or finance program at a Malaysian university will equip you with the skills to handle various business aspects, including marketing, economics, and more. The courses in these programs provide a fast track to a successful career in accounting. They are well-organized, approved by educational authorities, and designed to teach the skills needed for specialties such as public finance, chartered accountancy, and financial management.

These programs also include theoretical mathematics, economics, statistics, and finance courses to strengthen your knowledge base. Graduates from Malaysian universities often hold top positions in finance, business, accounting, and management roles worldwide.

Top universities in Malaysia offering accounting and finance degree or diploma programs include:

1. Taylor’s University
2. Universiti Kebangsaan
3. Sunway University
4. Multimedia University (MMU)
5. Asia Pacific University (APU)

Why Study Accounting & Finance?

As a critical business function, accounting and finance play a significant role in establishing and succeeding a business organization. Therefore, students pursuing their academic careers in the field are much likely to benefit in multiple ways, a few top among them can be listed as follows :

Extended Job Market

Accounting and finance professionals are essential for almost every business. Be it a small-scale firm just started by an entrepreneur or a well-established multinational, both of them will always need an accountant and finance professional who can help with their accounting operations and assist in the management of money. Therefore, studying accounting and finance can assure you of an extended job market – meaning you’ll always have a handful of job opportunities no matter how advanced the world becomes.

Versatile Career Opportunities

Accounting and finance are both foundational fields of study that can open the doors to many versatile career opportunities. There’s a lot to choose from, from public accounting and corporate finance to management accounting, financial consulting, taxation, forensic accounting, and much more. Once you’ve completed your degree or diploma in accounting from a prestigious university in Malaysia, you can easily opt for a specialized accounting or finance field based on your interest and move further in your career.

Competitive Salaries

While accounting and finance are integral business operations and required by every organization, they are both challenging skills to learn or inherit for every human being. Accountants and finance professionals are usually highly talented people with specialized degrees and potential for playing with numbers. Therefore, the salaries offered to them are also very competitive. Suppose you successfully complete your degree or diploma in either of the fields and prove yourself as an expert. In that case, firms from around the globe will offer you incredible packages so that they can get your reliable services.

Professional Recognition

Accounting and Finance are prestigious fields of education, and those who study them professionally are often recognized and accredited around the globe. In addition, membership with professional bodies such as the Malaysian Institute of Accountants (MIA) can also help enhance your professional standing and credibility in front of global organizations and contribute to getting you the best accounting and finance jobs.

Why Study Accounting & Finance In Malaysia?

There are several reasons you should study accounting and finance in Malaysia, the best among them include the following:

Affordable Tuition Fee

Compared to most educational institutions, Malaysian universities offer affordable fees. They ensure that the best quality education is offered and that global standards are not compromised, offering low-cost study options and making them an attractive destination for students with high-end academic dreams.

Quality Education

Malaysia is home to many highly accredited and globally renowned universities that offer the best accounting and finance courses. These courses and programs are accredited by professional global bodies such as CPA, ACCA, and CMA and recognized by the Malaysian Qualifications Agency (MQA), ensuring that quality education meets international standards.

Strategic Location & International Exposure

Located in the central heart of Southeast Asia, Malaysia offers strategic access to almost every economically growing state. It is an easy-to-access study destination for students aiming to get a quality education abroad and simultaneously experience an international perspective of accounting and finance.

Vibrant Student Life

Universities of Malaysia are known for offering vibrant campus lives for local and international students. These all-inclusive educational centers welcome students from varying cultures and allow them to engage with each other, enjoy multicultural festivities, and experience a fun-loving study environment where their academics are always complemented with the best extracurricular activities to ensure a balanced life.

Career Prospects

The potential career prospects of accounting and finance may include the following:

Public Accountants: They work for accounting firms offering services to different organizations or have their accounting practice set up to serve clients from a particular or various industries.

Management Accountants: are people working for a particular organization. Their role involves recording and analyzing the organization’s financial information. They might also be part of the organization’s budgeting, cost management, performance evaluation, and asset evaluation teams.

Auditor: They are the people responsible for analyzing and verifying the accuracy of financial records and statements. Their job role is to ensure that an organization or company’s financial statements fully comply with industrial laws and regulations. They can work both internally for an organization and externally for an auditing firm

Tax Consultant: A tax consultant is an expert in tax compliance and planning. These professionals can help businesses and citizens minimize tax liabilities while ensuring total compliance with taxation laws and regulations. They can also appear on behalf of their clients in front of the tax authorities if there’s any dispute and resolve the situation with their extensive knowledge and expertise.

Financial Analysts: are professionals responsible for assessing an organization or company’s financial performance and guiding it through significant financial decisions. Their core roles include creating reports, analyzing financial data, and providing insights on investment opportunities and market trends.

Forensic Accountants: They are professionals who analyze and determine financial discrepancies. Their core job is identifying illegal economic activities and providing expert testimony if a legal proceeding is being conducted.

Corporate Treasurers: are professionally trained individuals responsible for managing a company’s investments and assets. They also oversee an organization’s risk management strategies, cash flows, and financial planning to ensure economic stability.

Budget Analyst: They help organizations plan finances by preparing budget reports and monitoring financial activities. Their job is to thoroughly analyze an organization’s economic data, allocate their resources accordingly throughout the entire budget, and monitor that the created budget is being implemented correctly.

Program Duration

Undergraduate Programs

1. Bachelors in Accounting/Finance (3-4 years typically)

Postgraduate Programs

1. Master’s Degree in Accounting/Finance (1-2 years typically)
2. Doctorate (PhD) in Accounting/Finance (3-5 years typically)

Entry Requirements

The general entry requirements set by the Malaysian Qualifications Agency (MQA) are implied and followed by every professional university in Malaysia. They can be described as follows:

Undergraduate Programs

Academic Qualifications:

1. A-Levels (at least two passes)
2. Matriculation/Foundation (at least 2.00 CGPA)
3. Diploma (a course-relevant diploma with at least a 2.00 CGPA)
4. Unified Examination Certificate (at least five Bs)
5. STPM (Sijil Tinggi Persekolahan Malaysia) ( at least 2.00 CGPA)

English Language Proficiency:

1. At least one credit in SPM English or equivalent for Malaysian Nationals.
2. A minimum IELTS score of 5.5 or TOEFL score of 550 (paper-based) and 80 (internet-based) for international students.

Post Graduate Programs (Masters' Degree)

Academic Qualifications :

1. A relevant bachelor’s degree with at least a 2.00 CGPA.

English Language Proficiency:

1. At least one credit in SPM English or equivalent for Malaysian Nationals.
2. A minimum IELTS score of 6.0 or TOEFL score of 550 (paper-based) and 80 (internet-based) for international students.

Postgraduate Programs (Doctorate – PhD)

Academic Qualifications

1. A relevant master’s degree with at least a 3.00 CGPA.
2. A well-crafted and subject-relevant research proposal is to be submitted.

English Language Proficiency:

1. At least one credit in SPM English or equivalent for Malaysian Nationals.
2. A minimum IELTS score of 6.0 or TOEFL score of 550 (paper-based) and 80 (internet-based) for international students.

Fee and Costing

The fee structures for both undergraduate and postgraduate degree and diploma programs in Malaysia vary based on the program you’ve chosen, the institution you might be looking for, the duration of study, etc. However, the generic cost of a bachelor’s degree in Malaysia may be between 20,000 MYR and 70,000 MYR (an estimated 5,000 USD to 17,500 USD) a year.

Postgraduate programs, however, may cost more, ranging from 25,000 MYR to 80,000 MYR (an estimated 6,250 USD to 20,000 USD) annually. The range is often similar for both master’s and doctorate programs. However, the total expense of doctorate programs might vary based on the nature and duration of the research involved.

But the good news is that most Malaysian Universities offer scholarships and financial aid to students in need. Many flexible payment plans are also offered to help accommodate students without strong financial backgrounds but a desire for bright academic careers.

Accommodation

Accommodation facilities offered by Malaysian universities are often excellent and versatile, suiting each student’s diverse needs and requirements. As a foreign student landing in an entirely new destination for studies, accommodation could be a significant issue for you. But you need not worry because most Malaysian Universities offer a wide range of options, including hostels, dormitories, and even spacious apartment residences. You can pick what suits your needs and comes under your budget, and boom – enjoy all the excellent facilities they offer along with the comfortable and budget-friendly accommodation.

The shared facilities and amenities usually include :

1. Study desks
2. Beds
3. Attached bathrooms
4. Fully functional kitchens or pantries include a microwave, electric kettle, stove, fridge, etc.
5. Laundry rooms
6. Socializing areas
7. Recreational activities
8. 24/7 security surveillance

Admission Procedure

The admission process for getting into Malaysian Universities typically comprises multiple steps, including submission of an application, verification of the documents, eligibility assessment, and, in some cases, entrance exams or interviews etc. While it can be overwhelming and tedious to handle all that pressure while preparing for your entrance exams and interviews, TJS Study Steps can be your savior and simplify the admission process like never before. Here’s how the experts from TJS Study Steps can help during each stage of the admission procedure and ease you from the hassle!

1. We have added featured university and program guides on our website that experts from the industry have prepared. These guides can help you pick the finest universities and programs from a widespread palate as per your academic goals and aspirations.
2. Filling out the lengthy application forms can be exhausting; our team’s experts know how to ease you from that hassle. They offer professional assistance to the students in filling out correct information and attaching the required documents with their applications without any error to ensure the admission process goes smoothly.
3. TJS Study Steps also has documentation experts onboard who can help you gather all the required documents, such as transcripts, personal statements, certificates, and so on.
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5. If a university invites you to an interview or entrance exam, TJS can also assist you in your preparation and ensure you perform well and get selected.
6. Once you’ve secured admission at a university in Malaysia, the next step is to get a student Visa, and we also provide total guidance for the Visa application process.
7. Last but not least, TJS Study Steps ensures your well-being abroad. From booking the best flights at affordable rates to assisting you with a city tour, we help you adjust to the city.