Accountancy
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Transcript of Accountancy
ACCOUNTANCY
YOU
R C
ARE E R
OF C
HO
I CE
WHAT ACCOUNTANTS DO?
• Linking business and financial data to decision making• Financial reporting• Management accounting• Regulatory compliance
• Financial management• Capital raising• Capital and operational budgeting• Cash flow management
• Governance, risk and compliance• Directors, CEO, Audit and Risk committees• Risk management and internal control• Compliance with regulations
CORPORATE SECTOR
Directors, CEO and governance committees
• Set strategy
• Implement strategy
• Ensure risks are properly governed
CFO
• Financial and management reporting
• Treasury duties
Finance function
• Day to day accounting operation
• Compliance
SME SECTOR
Financial reporting
• Provide financial information
• Support decision making
Financial management
• Cash flow management
• Fund raising
Compliance
• Statutory accountants
• Taxation
• Other financial related matters
ACCOUNTANCY SERVICES
Auditing and Assurances
• Financial statement and Internal Auditing
• Accounting Advisory
• IT Assurance
Transaction services
• Merger and Acquisition support
• Valuation and Business Modelling
Taxation
• Direct taxation
• Indirect taxation
• Tax planning and advisory
PUBLIC SECTOR
Federal and State governments
• Economic planning
• Finance function
Statutory bodies
• Planning
• Finance function
Regulators
• Policy development
• Surveillance
• Enforcement
HOW TO BE AN ACCOUNTANT?
Institutions of higher learning
Entry level programmes offered by professional
accountancy bodies
Malaysian Institute of Accountants
Professional accountancy bodies
Private sectorAccountancy
practices Public sector
Required working experience period
Professional accountancy programmes
Competency assessments
Employers and approved training providers provide work experience
and mentoring to accountancy graduates
Ensures baseline competencies are attained before admission to
membership
Employers provide regular feedback to ensure baseline
competencies remains relevant to employers
MIA sets ethical standards and regulates the conducts of members
Admitted based on Part 1 of the First Schedule of the Accountants Act
Admitted based on Part 2 of the First Schedule of the Accountants Act
GENERAL ROLE AND COMPETENCY PATTERNS FOR ACCOUNTANTS
Role in organisation
Executive
LeadershipGraduate• Understandi
ng core technical concepts
• Technical and communication skills
Professional• Application
of advanced technical concepts
• Leadership and communication skills
Senior management• Strategic
and enterprise thinking
• Specialised technical skills
• Leadership and communication skills
Leader• Strategic
and enterprise thinking
• Advanced leadership and communication skillsRanges of te
chnical, soft a
nd leadership skills