Becoming an accountant in Malaysia involves obtaining the right education, certifications, and practical experience.
Here is a step-by-step guide to help you pursue this career:
1. Obtain the Required Education
- Step 1: Complete SPM or Equivalent
- Start by earning a Malaysian Certificate of Education (SPM) or its equivalent with good grades, especially in Mathematics and English.
- Opt for subjects related to commerce or accounting, if available.
- Step 2: Enroll in Pre-University Programs
- Foundation Programs: Foundation in Business, Accounting, or Arts.
- Diploma Programs: Diploma in Accounting or Finance (typically 2–3 years).
- A-Levels or STPM: Ideal for students planning to pursue a degree in accounting.
- Step 3: Pursue a Degree in Accounting
- Obtain a Bachelor’s Degree in Accounting or related fields from a recognized university.
- Accredited programs are essential if you plan to register with the Malaysian Institute of Accountants (MIA) later.
2. Gain Professional Qualifications
While a degree qualifies you for accounting roles, professional certifications increase career prospects and earnings.
- Popular Accounting Certifications:
- ACCA (Association of Chartered Certified Accountants) – Recognized internationally.
- CPA (Certified Public Accountant) – Focuses on advanced accounting and auditing.
- CIMA (Chartered Institute of Management Accountants) – Ideal for management accounting.
- MICPA (Malaysian Institute of Certified Public Accountants) – Malaysia-specific qualification.
- Eligibility:
- A degree in accounting or finance is required to enroll in most certification programs.
- Diploma holders may need additional credits or training to qualify.
3. Complete Practical Training
- Internships and Work Experience:
- Most professional certifications, like ACCA and CPA, require 3 years of supervised work experience (also known as a Practical Experience Requirement, or PER).
- Work with registered employers to ensure your experience is recognized.
4. Register with the Malaysian Institute of Accountants (MIA)
- Why Register?
- To practice legally as a Chartered Accountant in Malaysia, you must register with the Malaysian Institute of Accountants (MIA).
- Registration ensures compliance with the Accountants Act 1967.
- Requirements for MIA Membership:
- A recognized Accounting Degree.
- Completion of professional qualifications such as ACCA, CPA, or MICPA.
- Relevant work experience in accounting, auditing, or finance.
5. Develop Key Skills
To excel as an accountant, focus on developing the following:
- Technical Skills: Proficiency in accounting software like SQL, SAP, and Excel.
- Analytical Skills: Ability to interpret financial data and create reports.
- Communication Skills: Clear presentation of financial information to clients or management.
- Ethics and Compliance: A strong understanding of Malaysian Financial Reporting Standards (MFRS).
6. Continuous Professional Development (CPD)
- Stay Updated:
Accountants must meet Continuing Professional Development (CPD) requirements to keep their certifications valid and stay updated with industry trends. - Attend Training Programs and Seminars:
Participate in workshops, webinars, and courses offered by MIA or other professional bodies.
7. Career Advancement Opportunities
- Start as an Accounting Assistant or Junior Accountant and move up to Senior Accountant, Finance Manager, or CFO.
- Explore specialized fields like Auditing, Taxation, Forensic Accounting, or Financial Analysis.
8. Salary Ranges by Job Role
| Job Title | Experience Level | Monthly Salary (RM) |
|---|---|---|
| Accounting Assistant | Entry-Level (0–2 years) | RM 2,500 – RM 4,000 |
| Accounts Executive | 1–3 years | RM 3,000 – RM 5,000 |
| Junior Accountant | 2–4 years | RM 4,000 – RM 6,000 |
| Senior Accountant | 4–7 years | RM 6,000 – RM 9,000 |
| Accounting Manager | 7–10 years | RM 8,000 – RM 15,000 |
| Finance Manager | 8–12 years | RM 10,000 – RM 18,000 |
| Financial Controller | 10–15 years | RM 15,000 – RM 25,000 |
| Chief Financial Officer (CFO) | 15+ years | RM 25,000+ |
Please note that these salary ranges are approximate and can vary depending on various factors. It’s always advisable to research current market trends and consult with professionals in the accounting industry for more accurate and up-to-date information.
Final Thoughts
Accounting is a respected and stable career in Malaysia, offering competitive salaries and growth opportunities. By following this roadmap—earning the right qualifications, gaining experience, and maintaining certifications—you can build a successful career as an accountant.
Job Description: Accountant in Malaysia
Job Title: Accountant
Job Overview:
An accountant in Malaysia is responsible for managing financial records, preparing reports, analyzing data, and ensuring compliance with accounting standards and tax regulations. Accountants play a critical role in financial planning, budgeting, and auditing processes to support business growth and regulatory compliance.
Key Responsibilities:
- Financial Management: Prepare and maintain accurate financial statements, budgets, and forecasts.
- Bookkeeping: Record daily transactions and ensure proper documentation of financial activities.
- Tax Compliance: Prepare and file tax returns, ensuring compliance with Malaysian tax laws and regulations.
- Auditing: Conduct internal and external audits to evaluate financial accuracy and performance.
- Financial Analysis: Provide insights and recommendations based on financial data to improve business decisions.
- Regulatory Compliance: Stay updated with Malaysian Financial Reporting Standards (MFRS) and international accounting standards.
- Advisory Services: Offer financial advice to clients or management to optimize performance and profitability.
Skills and Qualifications:
- Bachelor’s Degree in Accounting, Finance, or a related field.
- Professional certifications such as ACCA, CPA, or CIMA (preferred).
- Proficiency in accounting software and Microsoft Excel.
- Strong analytical, problem-solving, and organizational skills.
- Excellent communication and attention to detail.
Career Progression:
- Junior Accountant → Senior Accountant → Accounting Manager → Finance Director → Chief Financial Officer (CFO).
Frequently Asked Questions (FAQs): How to Become an Accountant in Malaysia
1. What qualifications do I need to become an accountant in Malaysia?
To become an accountant, you need at least a Bachelor’s Degree in Accounting, Finance, or Business Administration. Professional certifications like ACCA (Association of Chartered Certified Accountants) or CPA (Certified Public Accountant) can improve career prospects.
2. Is it mandatory to join the Malaysian Institute of Accountants (MIA)?
Yes, if you want to be a chartered accountant, you must register with the Malaysian Institute of Accountants (MIA) after obtaining recognized qualifications and completing the required practical experience.
3. How long does it take to qualify as an accountant?
Typically, it takes 3–4 years to complete a degree and 1–2 years to complete professional certification programs like ACCA. The total duration depends on the study method (full-time or part-time).
4. Can I become an accountant without a degree?
No, a degree is generally required. However, you may start as an Accounting Assistant or Bookkeeper with a diploma and pursue further studies or certifications later.
5. What certifications are recommended for accountants in Malaysia?
Popular certifications include:
- ACCA (UK)
- CPA (Australia)
- CIMA (Chartered Institute of Management Accountants)
- MICPA (Malaysian Institute of Certified Public Accountants)
6. What are the job prospects for accountants in Malaysia?
Accountants are in high demand in Malaysia across industries such as banking, auditing, taxation, and corporate finance. The role offers stable employment and opportunities for career advancement.
7. Do I need to specialize in a specific area of accounting?
While not mandatory, specializations such as taxation, auditing, or forensic accounting can enhance job prospects and salary potential.
8. How much do accountants earn in Malaysia?
Entry-level accountants typically earn between RM 3,000–RM 5,000 per month. Senior accountants and managers can earn over RM 10,000 depending on qualifications and experience.
9. What is the role of the Malaysian Institute of Accountants (MIA)?
The MIA regulates the accounting profession in Malaysia, ensuring standards, ethics, and competency among registered accountants.
10. Are there continuing education requirements for accountants?
Yes, accountants must fulfill Continuing Professional Development (CPD) requirements to maintain their professional certifications.
