Your guide to become an Accountant in Malaysia

Average Salary

RM 2,000 - 3,500

Job Demand

Who is an Accountant?

An Accountant manages all areas of financial matters in a company such as handling cashflow, budgeting, taxation, recording transactions, and advising top management.

A career in Accounting means you will be in charge of inspecting and analysing the monetary data of a client (a company, organisation or individual) for consultation, taxpaying and auditing purposes. The job scope of an Accountant will be to review and manage the company’s financial documents, produce and submit tax documents, determine financial operations and recommend better economic efficiency, as well as the daily operations of funds.

A career in Accounting means you will be in charge of inspecting and analysing the monetary data of a client (a company, organisation or individual) for consultation, taxpaying and auditing purposes. The job scope of an Accountant will be to review and manage the company’s financial documents, produce and submit tax documents, determine financial operations and recommend better economic efficiency, as well as the daily operations of funds.

The pros and cons of being an Accountant:

Pros

There is great potential for growth in this field. Accountants made it to the Critical Occupations List 2016/17 and this means they are in demand. You will move up the ranks once you have gained sufficient experience.

Obtaining the qualification of a Chartered Accountant will earn you a handsome salary, especially if you’re working with the top four Accounting firms.

Accounting offers a career in a few branches such as finance, management, auditing and taxes.

Cons

Accountants basically work all year round like every other job, but their workload comes from the end of one year till the beginning of the following year as companies close their accounts and produce financial reports during this time. While everyone is taking leave at the end of the year, Accountants will have to work harder.

Accounting is typically a standard 9-to-5 job. Like many other industries, Accounting has a repetitive pattern of heavy workload.

What are all the responsibilities of an Accountant ?

Management of expenses

Provide financial advice

Liaise with clients

Assess risks of a company’s financial system

Assess the reliability of financial information

Advise clients about taxation issues

Maintain accounting records

Detect fraud

Liaise with auditors

Generate reports

Create financial statements

Negotiate with suppliers

What skills do you need to become an Accountant?

A love for numbers

A career in Accounting is no joke. You will have to face numbers every single day, learn up formulas on excel and other accounting softwares. If you’re one that never gets tired of calculation and don’t mind spending the rest of your life doing that, then this one’s for you!

Time management skills

As mentioned before, an Accountant will have a heavy workload. As such, you’ll need to manage your time wisely to avoid delaying your deadline or cause others to complete later than expected. You might have to work over-time, depending on your time management skills.

Problem solving skills

Have you always loved watching mystery movies, solving puzzles or riddles? Were you one of the first ones to solve it or figure something is wrong? A career in Accounting would require you to have problem solving skills as the accounts will not always tally. Yes, this also means you need to have a sharp eye to notice any errors.

What field(s) of study should you choose to become an Accountant?

What are the requirements to be an Accountant?

A diploma, CAT or LCCI qualifications would be fine but it would be best to complete a Bachelor’s Degree, ACCA, MICPA, ICAEW or CIMA qualifications to receive a better salary and job prospects.

What are the working hours of an Accountant?

Work hours are standard office hours, but it would be based upon how much work is left, and it would increase during critical periods such as the end and beginning of every year.

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Who are all the top recruiters for Accountant in Malaysia?

Career Path

Most top Accounting firms want to hire Chartered Accountants but a fresh Bachelor’s Degree graduate can also apply for it. Most students opt to work at the company while studying for their professional qualification. In a few years, they will be able to obtain the title of a Chartered Accountant and be a member of the Malaysian Institute of Accountants (MIA). Once you have your qualifications, you would continue to work with the same employer.

After you have gained enough experience, you may have the chance to move up the corporate ladder. You may also change your career path to other jobs related to this field such as an Internal Auditor or Business Analyst.

The career prospects in the accountancy field remains afloat and might even be in higher demand over the next few years as Malaysia navigates towards becoming a high income nation. By 2020, 60,000 finance talents are needed, according to industry forecasts. Whether it is a small firm or a big conglomerate, more Chartered Accountants are always required.

In specific fields, the Malaysian government will need more Forensic Accountants to fight off corruption. Corruption cases are expected to multiply from last year’s 20 to 80 cases this year. This, according to the Malaysian Anti-Corruption Commission, calls for more forensic accountants.

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