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Published by Afterschool.my on Sep 05, 2016, 03:11 pm
Malaysian Institute of Accountants (MIA) chief executive officer Dr Nurmazilah Mahzan said these technologies have the capability to crunch massive amount of data, analyse information and have the ability to enhance reasoning and professional judgement.
“By tapping into these technologies, accountants and financial professionals will be better supported when making complex decisions,” she said.
In Malaysia, trends in the accountancy profession are Big Data Analytics and Integrated Reporting.
“Irrespective of the industry, we generate tonnes of data every day. Accountants and financial professionals can leverage on Big Data. They have the ability to analyse data to help management make informed decisions.
"Accountants and financial professionals could play a strategic role in the organisation as their ability to interpret data could reveal business opportunities.”
Integrated Reporting is the next evolution of corporate reporting. Companies are encouraged to focus beyond financial performance, with an emphasis on the impact of their activities on the economy, environment and society. In doing so, organisations can create greater value over short to and long-term.
In Malaysia, the Integrated Reporting initiative is jointly promoted by various parties including the MIA, Securities Commission, Bursa Malaysia and PriceWaterhouse Coopers.
Aspiring accountants also need to keep pace with standards, particularly the International Financial Reporting Standards (IFRSs), a single set of accounting standards developed and maintained by the International Accounting Standards Board.
Malaysian Accounting Standards Board technical director Tan Bee Leng said with nearly 120 countries requiring the use of IFRSs by public companies while most other jurisdictions permit the use of IFRSs in at least some circumstances, knowledge of the standards will be most useful to aspiring accountants.
“It will enable them to stay relevant not only in Malaysia but also across international borders. For example, a Malaysian firm may do business with multinational clients or it may have subsidiaries overseas.
“In addition, IFRSs are developed based on clearly articulated principles and IFRSs concepts can help students develop critical analytical and thinking skills,” she added.
In this day and age, it seems like every single job is contemplating for a math, science or technology degree holder. Even so, if you immensely prefer writing or reading than using the Pythagoras’ theorem, you might find yourself pondering the question, “What am I going to do with ..
Read MoreMost people on earth would have dreamt of becoming a doctor at least once in their life. Majority of students, study medicine with the aspiration of becoming a doctor. After all, doctors are some of the desirable medical positions right now.However, a medical degree does not signify that you have to..
Read MoreThe KPM has announced that the students can now check the offer to enter Form 6 for the year 2020 which can be reviewed today through the official KPM website. Here we would like to share the official KPM website and other Form 6 related information.Click the list of links below to check the Form 6 ..
Read MoreKuala Lumpur: Ministry of Education Malaysia officially announces school reopening dates during today’s press conference (1st July).For almost four months, over 5.7 million students were unable to attend school due to the global health pandemic, COVID-19.Today, it is announced that all student..
Read MoreThe Selangor State Education Loan is a non-interest-free loan financing for Selangor children pursuing full-time studies at the Certificate, Diploma or a Bachelor's Degree at public and private institutions of higher learning in the country.General Criteria BirthApplicant was born in Selangor; ..
Read MoreLet’s talk about nurses. We, as a community, need nurses as our medical frontliners. Nurses are a critical part of healthcare and make up the largest section of the health profession. They are so important that there is a huge demand for nurses now that the population becomes bigger, older and sic..
Read MoreKPM has postponed the respective annual examinations to the first week of 2021.KUALA LUMPUR: Students sitting for SPM, STPM, STAM and Sijil Vokasional Malaysia will be privileged to have more time to run through their books for their respective examinations. The KPM has postponed the respective annu..
Read MoreFor most of us, UPU is our to-go when applying to study in public universities, right? But UPU is notoriously known for being an extremely tough application process because you’re competing with thousands of students across the country for a single spot!Applying for UPU means nationwide compet..
Read MoreThinking about studying engineering in the UK but not sure where to go? We at Afterschool.my are here to help you choose the right institution to pursue your studies abroad.Since engineering is such a broad field, this list looks at the general engineering courses offered in the highest ranking univ..
Read MoreWhat have your friends been using our website for? Let's find out!1. MedicineIs there still a demand for doctors in Malaysia?Whatever the answer (and our experts have been having very different thoughts on this) this course is still a huge favourite among Malaysian students and parents alike, an..
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