The best way to acquire knowledge is to study accounting in Malaysia because Malaysia is one of the rapidly growing countries. The country has highly qualified and experienced lecturers and all the teaching systems are modern and well-equipped. On the other hand, accounting is regarded as the language of the business sector. Every organization, regardless of size, has a dedicated accounting department to manage all financial dealings. Students will be able to communicate effectively by learning and understanding accounting.
In this article, we will be exploring the best accounting universities and colleges available in Malaysia.
Overview of Malaysia’s higher education system
Malaysia’s higher education system is considered one of the best in Southeast Asia and is highly regarded for its quality, affordability, and diverse culture. There are divisions in the Malaysian higher education system. They are:
Public Universities
The public universities are the ones funded by the state. Those universities are tuition-free for Malaysian citizens and have minimal tuition fees for other students.
Private Universities
The private universities are the one which has a wide range of undergraduate and postgraduate programs. Generally, private universities are not funded by the government and charge higher tuition fees.
Foreign university branch campuses
Malaysia is home to branch campuses of foreign universities that are connected to institutions abroad.
Polytechnic Colleges
Polytechnic colleges offer diploma and certificate programs in technical and vocational fields in Malaysia.
Community Colleges
Community colleges in Malaysia offer certificate and diploma programs except for engineering and technical fields. The community colleges include business, healthcare, and education.
Role of Universities in Shaping accounting Professionals
Education providers play a vital role in shaping accounting professionals in the world. They provide students with the necessary knowledge, skills, and values need to become a successful accounting professional. The main roles that universities provide in shaping accounting professionals are-
- Providing a strong foundation in accounting principles
- Enhancing the capacity for critical thought and problem-solving
- Providing opportunities for practical experience
- Connecting students with the accounting profession
- Teaching soft skills
Accounting Universities in Malaysia
| University Name | University Rankings | Offered Accounting Program | Tuition Fees (Yearly) | Intakes | Duration |
|---|---|---|---|---|---|
| International Islamic University Malaysia (IIUM) | 651-700 | Bachelor of Accounting
Master of Science (M.Sc.) in Accounting Doctor of Philosophy in Accounting
|
$6,000 to $12,000
$7,500 to $15,000 $10,000 to $20,000
|
September, February
September, February September
|
3-year
2-year 3-year
|
| Universiti Malaya (UM) | 70 | Bachelor of Accounting (BAcc)
Master of Accounting (MAcc) (Coursework & Research) Doctor of Philosophy in Accounting (PhD) |
$14,000
$9,000
$9,000
|
September, February
October, March
August
|
3-year
2-year
3-year
|
| Universiti Teknologi MARA (UiTM) | 651-700 | Bachelor of Accounting (Hons.)
Master of Accounting (MAcc) Master of Business Administration (MBA) in Accounting Doctor of Philosophy (Ph D) in Accounting
|
$5,500
$5,500 to $8,000 $5,500 to $8,000
$6,000
|
March, September
March, September
March, September
|
3-year
2-year
3-year
|
| Universiti Kebangsaan Malaysia (UKM) | =129 | Bachelor of Accounting
Executive Bachelor of Accounting Master of Accounting Doctor of Philosophy in Accounting
|
$3,847
$5,300 $6,663
|
June, October
February, August October, April
|
4-year
2-year 3-year
|
| Universiti Putra Malaysia (UPM) | 123 | Bachelor of Accounting (Honours)
Bachelor of Accounting (Honours) with External Studies Master of Accounting |
$6,500
$8,500
$8,600
|
March, July, November
January, September January, September
|
4-year
2-year 3-year
|
| Monash University Malaysia | 57 (Main Monash University Melbourne, Australia) |
Bachelor of Accounting
Master of Accounting Master of Professional Accounting
|
$9,900
$12,500
|
February, July, October
February, July
|
3-year
1-year
|
| Taylor’s University | =284 | Bachelor of Accounting (Honours) | $29,358 | January, March, September | 3-year |
| Sunway University | 601-650 | Bachelor of Science (Hons) in Accounting and Finance | $23,500 | January, April, August | 3-year |
International Islamic University Malaysia (IIUM)
Location in Malaysia
Gombak, Selangor
Entry Requirements
- Completion of O-Level and A-Level with at least 5 credits, including Mathematics, English, and Accounting passes.
- IELTS a minimum of 5 or MUET Band 3 or equivalent.
- University Interview.
- For the Master’s program, you have to earn Bachelor’s degree in Accounting or a related field from a recognized university with a minimum CGPA of 2.75.
- GMAT or GRE scores (If available)
- Two letters of recommendation from workplace and educational institutions for Master’s programs.
- Statement of purpose.
Scholarship
- IIUM Excellence Scholarship
- IIUM Merit Scholarship
- IIUM Sports Scholarship
- IIUM Need-Based Scholarship
- IIUM Alumni Scholarship
Universiti Malaya (UM)
Location in Malaysia
Kuala Lumpur
Entry Requirements
- Completion of O-Level and A-Level with at least 5 credits, including a minimum of 2Bs and 2Cs in Mathematics, English, and Accounting.
- IELTS a minimum of 5 or MUET Band 3 or equivalent.
- University Interview.
- For the Master’s program, you have to earn Bachelor’s degree in Accounting or a related field from a recognised university with a minimum CGPA of 2.75.
- GMAT or GRE scores (If available)
- Two letters of recommendation from workplace and educational institutions for Master’s programs.
- Statement of purpose.
Scholarship
- Maybank Group Scholarship
- Malaysian Accountancy Graduates Society Scholarship
- Universiti Malaya Accountancy Alumni Association Scholarship
- Malaysian Institute of Accountants Scholarship
- Bank Negara Malaysia Scholarship
Universiti Teknologi MARA (UiTM)
Location in Malaysia
Shah Alam, Selangor
Entry Requirements
- Completion of O-Level and A-Level with at least 5 credits, including a minimum of 2Bs and 2Cs in Mathematics, English, and Accounting.
- IELTS a minimum of 5 or MUET Band 3 or equivalent.
- University Interview.
- For the Master’s program, you have to earn Bachelor’s degree in Accounting or a related field from a recognized university with a minimum CGPA of 2.75.
- GMAT or GRE scores (If available)
- Two letters of recommendation from workplace and educational institutions for Master’s programs.
- Statement of purpose.
Scholarship
- UiTM Endowment Scholarship
- Majlis Amanah Rakyat (MARA) Scholarship
- Yayasan Bank Rakyat Scholarship
- Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) Loan
- Maybank Education Loan
Universiti Kebangsaan Malaysia (UKM)
Location in Malaysia
Bangi, Selangor
Entry Requirements
- Completion of 12 years of primary and secondary education.
- Must have earned at least Grade B in the following subjects: Economics, Accounting, Business Studies, Business Management, Mathematics, or Mathematics with Calculus.
- Acquiring at least 6.0 in the IELTS or 550 in the Test of English as a Foreign Language (TOEFL).
- For the Master’s program, you have to earn Bachelor’s degree in Accounting or a related field from a recognised university with a minimum CGPA of 2.75.
- GMAT or GRE scores (If available)
- Two letters of recommendation from workplace and educational institutions for Master’s programs.
- Statement of purpose.
Scholarship
- Tertiary Education Sponsorship Programme (TESP)
- Graduate Excellence Programme (GREP)
- Yayasan Khazanah Scholarship
- Top Glove Foundation Scholarship
- Sime Darby Foundation Scholarship
Universiti Putra Malaysia (UPM)
Location in Malaysia
Serdang, Selangor
Entry Requirements
- Completion of O-Level and A-Level with at least 5 credits, including Mathematics, English, and Accounting passes.
- IELTS a minimum of 5 or MUET Band 3 or equivalent.
- University Interview.
- For the Master’s program, you have to earn Bachelor’s degree in Accounting or a related field from a recognised university with a minimum CGPA of 2.75.
- GMAT or GRE scores (If available)
- Two letters of recommendation from workplace and educational institutions for Master’s programs.
- Statement of purpose.
Scholarship
- Tertiary Education Sponsorship Programme (TESP)
- Graduate Excellence Programme (GREP)
- Yayasan Khazanah Scholarship
- Top Glove Foundation Scholarship
- Sime Darby Foundation Scholarship
Monash University Malaysia
Location in Malaysia
Bandar Sunway, Subang Jaya, Selangor
Entry Requirements
- Applicants must have completed a relevant prior 12-year education.
- For a Master’s degree, students must complete an undergraduate degree with a minimum GPA of 2.5. Relevant degrees include accounting, finance, business, economics, and mathematics.
- Applicants must also have completed the GMAT or GRE with a minimum score of 550.
- At least 2 years of work experience in accounting or a related field (If applicable)
- Two letters of recommendation from workplace and educational institutions for Master’s programs.
- Statement of purpose.
- IELTS a minimum of 5 or MUET Band 3 or equivalent.
Scholarship
- Merit-based scholarship
- Monash University Malaysia Accounting Excellence Scholarship
- Monash University Malaysia Accounting International Scholarship
- Monash University Malaysia Accounting Professional Scholarship
- Monash University Malaysia Accounting Leadership Scholarship
Taylor’s University
Location in Malaysia
Subang Jaya, Selangor
Entry Requirements
- Completion of prior 12-year education O-Level and A-Level with a minimum grade of AAB, with Accounting, Mathematics, and Economics as subjects or Taylor’s Foundation with a pass mark in any Taylor’s Foundation programme with a minimum CGPA of 2.50 or Taylor’s Diploma with pass Diploma in Accounting or related field with a minimum CGPA of 2.50 or other equivalent qualifications.
- For a Master’s degree you need to complete the undergraduate degree in Accounting or related streams with a minimum CGPA of 3.0.
- A personal statement
- Letters of recommendation
- English proficiency test, such as the TOEFL or IELTS.
Scholarship
- Taylor’s College Merit Scholarship
- Taylor’s College ACCA Scholarship
- Taylor’s College Sports Scholarship
- Yayasan Peneraju Pendidikan Bumiputera (YPPB) Scholarship
- Luis Palau Scholarship
Sunway University
Location in Malaysia
Bandar Sunway, Petaling Jaya, Selangor
Entry Requirements
- Completion of O-Level and A-Level, with an average C+ or CGPA 2.33 (minimum 2 principals)
- For Bachelor’s degree, English proficiency: IELTS 6.0 or equivalent
- For Master’s degree, a minimum Bachelor’s degree in Accounting or a related field with a minimum CGPA of 2.75
- For Master’s degree, English proficiency: IELTS 6.5 or equivalent
Scholarship
- Jeffrey Cheah Entrance Scholarship
- Special Merit Award
- Sunway Sports Scholarship
- Sunway-ICAEW Global Accountant Scholarship
- Sunway-ACCA Global Leader Scholarship
Career Prospects in Accounting
Accounting is a subject that has a broad field with many different career options. The career prospects in the accounting sector are very promising and fruitful. According to the Bureau of Labor Statistics, the employment in accounting field tends to grow by 10% from 2020 to 2030 which is faster than the average for all other occupations.
Some of the most common career paths in accounting are:
- Auditor
- Tax accountant
- Financial accountant
- Management accountant
- Forensic accountant
- Forensic accountant
Collaborations with Accounting Firms and Corporations
Collaboration with accounting firms to corporations can be valuable for both groups. Accounting firms can gain entrance to new clients and markets, while corporations can get entrance to specialized expertise and resources through accounting firms. These collaborations can also assist to enhance the grade of financial reporting and auditing standards.
Accounting firms and corporations collaborate in a number of ways. The followings are a few examples of how accounting firms and corporations can collaborate.
- Joint venture with a corporation
- Alliances to share resources and expertise
- Consult with corporations
- Outsourcing accounting functions
- Collaborating on research projects
What are the Salary Ranges for Accounting Professionals?
FAQs
What are the admission requirements for accounting programs in Malaysia?
Answer: The most important requirement is the completion of 10 or 12 years of education.
What are the top skills for accounting graduates in Malaysia?
Answer: Strong analytical and problem-solving skills and excellent communication and interpersonal skills are the two top skills for accounting graduates in Malaysia.
What are the few factors in choosing the best accounting university/college in Malaysia?
Answer: The reputation of the university/college, the quality of the accounting program, the career prospects for graduates, the location of the university/college, tuition fees and scholarship opportunities are a few factors that need to consider while choosing the best accounting university/college in Malaysia.
Conclusion
The field of accounting is demanding and rewarding that necessitates analytical thinking, problem-solving abilities, and meticulousness.
Accounting is a tremendously fulfilling field that gives the chance to actually change the world which is a dependable and expanding industry. Because of this, studying accounting is a wonderful prospect for those searching for a safe and steady profession.
