Accounting course (LCCI) training center

Centre – Pulau Pinang

Pusat Kemahiran Spektrum
28 & 30, 1st Floor, Lorong Seri Jaya,
Taman Seri Jaya,
14000 Bukit Mertajam
Tel: 604-530 6205

Kolej PTPL Penang
No 239,
Jalan Burma,
10350 Pulau Pinang
Tel: 604 2263 698

CF Computer Netsoft System
288A-2-10, Jalan Thean Teik,
Fortune Court, Bandar Baru Ayer Itam,
11500 Penang
Tel: 604-827 3241

Solar Learning Centre
42, 1st Floor,
Jalan Perniagaan,
Pusat Perniagaan Alma,
14000 Bukit Mertajam
Tel: 604-539 9211

T & O Institute of Commerce
12, Leboh Kampong Benggali,
12000 Butterworth
Tel: 604-323 6971

Pusat Bahasa Titian Jaya (Pg) Sdn Bhd
5th & 6th Floor,
No. 9 , Jalan Zainal Abidin ,
Wisma MAICA ,
10400 Penang
Tel: 604-229 1355

Accounting Organizations

• American Accounting Association (AAA)
• Association of Government Accountants (AGA)
• American Institute of Certified Public Accountants (AICPA)
• American Society of Women Accountants (ASWA)
• Financial Accounting Standards Board (FASB)
• Financial Executives International (FEI)
• Governmental Accounting Standards Board (GASB)
• International Accounting Standards Board (IASB)
• Institute of Internal Auditors (IIA)
• Institute of Management Accountants (IMA)
• National Association of Black Accountants (NABA)
• National Association of Forensic Accountants (NAFA)

Introduction to Accounting Degrees

If you have an aptitude for accounting and business, the field of accounting can offer you a variety of job opportunities.

With a high school diploma or a two-year associate degree earned at a community or technical college, you could find employment as an accounting clerk. An associate degree could also land you a job as a bookkeeper for a local business.

To be an accountant, however, you will need a minimum of a four-year bachelor's degree in accounting. With this bachelor's degree, you will have more job opportunities open to you and will likely earn twice the salary of a person with an associate degree. The bachelor's degree in accounting includes about 36 credits of difficult accounting courses as well as another 20 credits in business courses.

If you want to become a certified public accountant, you will need to pass the Uniform CPA Examination, (the "CPA Exam"). Before you are approved to sit for the exam, however, you will need to earn a 150-credit degree as required by your state board of accountancy. You should be aware, however, that this is a challenging goal. Relatively few individuals complete the 150-credit degree program, and, of those who do, less than half pass the CPA Exam.

If you decide to pursue an accounting degree, make certain that you enroll in a college or university that has a well-respected program. One indicator of a quality accounting program is the ability of its graduates to find employment through the campus placement office. In short, if an accounting program is excellent, employers will actively recruit the graduates. Find out the job placement rate for the college or university that you are considering.

Corporate Accounting Jobs

Below is a sampling of the various accounting positions found in corporate accounting:

Classification	Common Titles of Accounting Degreed Employees	Common Titles of Non-Degreed Accounting-Type Positions
Manufacturing Utilities Banking and Financial Services Insurance Hospitals Other Health Care E-Commerce	Chief Financial Officer (CFO) VP-Finance Corporate Controller Plant Controller Assistant Controller Accounting Manager Accounting Supervisor Chief Accountant Cost Accounting Manager Cost Accountant Tax Research Director of Internal Audit Internal Auditor Director of SEC Reporting Accounting Research Financial Analyst Budget Director	Accounts Payable Clerk Accounts Receivable Clerk Payroll Clerk Cost Clerk Budget Assistant

Accounting Firms in Malaysia

As at 30 June 2008, there are 1,348 firms which are offering auditing services and another 650 firms providing other accountancy related services.[2] Most of the global networks of accounting firms such as Ernst & Young, Deloitte, KMPG, PricewaterhouseCoopers, BDO, Geneva Group International, Howarth, Baker Tilly, Urbach Hacker Young and Grant Thornton have their presence in Malaysia.
Accounting firms have to be registered with MIA and members of MIA who wish to offer public practice services should also possess practising certificate issue by MIA. However, specific approvals should be obtained to provide the following services:

• Audit of limited companies; approval to be obtained from the Ministry of Finance and firms should be registered with the Companies Commission Malaysia
• Audit of co-operative societies; approval to be obtained from the Malaysia Co-operative Society Commission
• Audit of banks and financial institutions; approval to be obtained from Bank Negara Malaysia
• Tax agent services, approval to be obtained from the Inland Revenue Board
• Receivership and liquidation services; approval to be obtained from the Ministry of Finance
• Financial planning; approval to be obtained from the Securities Commission Malaysia

Accountancy Education

Accounting courses are offered both by the public and private higher education institutions in Malaysia. Presently, accountancy degree from 11 institutions of higher learning are recognised for the purpose of admission to the membership of MIA.Some of the institution of higher learnings also offer programmes leading towards attaining professional accountancy qualifications such as ACCA, CIMA, ICAEW and MICPA.

Other Accountancy Bodies in Malaysia

The Malaysian Institute of Certified Public Accountants (MICPA), which was established in 1958, is another accountancy body that is involved in the training and development of accountants in Malaysia.Apart from that, accountancy bodies from the Commonwealth countries such as the Association of Chartered Certified Accountants (ACCA), Chartered Institute of Management Accountants (CIMA), the Institute of Chartered Accountants in England and Wales (ICAEW), the Institute of Chartered Accountants in Australia (ICAA) and CPA Australia are also active in training and developing Malaysians towards attaining professional accountancy qualifications.

Accocounting professional body

  

The accountancy profession in Malaysia is regulated by the Malaysian Institute of Accountants (MIA) through the powers conferred by the Accountants Act, 1967. The MIA is an agency under the Ministry of Finance and reports directly to the Accountant General Office. As at 30 June 2008, MIA has 24,719 members of which 65% are involved in commerce and industry, 27% in public practice and 7% in government and other sectors. Selangor and the Kuala Lumpur Federal Territory have the largest concentration of MIA membership with 9,697 and 6,118 members respectively.

Accounting - Cash flow

Cash flow forecasting or cash flow management is a key aspect of financial management of a business, planning its future cash requirements to avoid a crisis of liquidity.

Why is cash flow forecasting important? If a business runs out of cash and is not able to obtain new finance, it will become insolvent. It is no excuse for management to claim that they didn't see a cash flow crisis coming. So in business, "cash is king".

Cash flow is the life-blood of all businesses – particularly start-ups and small enterprises. As a result, it is essential that management forecast (predict) what is going to happen to cash flow to make sure the business has enough to survive. Here are the key reasons why a cash flow forecast is so important: Identify potential shortfalls in cash balances in advance – think of the cash flow forecast as an "early warning system". This is, by far, the most important reason for a cash flow forecast. Make sure that the business can afford to pay suppliers and employees.

Suppliers who don't get paid will soon stop supplying the business; it is even worse if employees are not paid on time. Spot problems with customer payments – preparing the forecast encourages the business to look at how quickly customers are paying their debts. Note – this is not really a problem for businesses (like retailers) that take most of their sales in cash/credit cards at the point of sale. As an important discipline of financial planning – the cash flow forecast is an important management process, similar to preparing business budgets. External stakeholders such as banks may require a regular forecast. Certainly, if the business has a bank loan, the bank will want to look at the cash flow forecast at regular intervals.

Accounting - Book Keeping

Bookkeeping is to be understood in the context of a business. It is simply the recording of financial transactions. Transactions include purchases, sales, receipts and payments by an individual or organization. Bookkeeping is usually performed by a bookkeeper.

Many individuals mistakenly consider bookkeeping and accounting to be the same thing. This confusion is understandable because the accounting process includes the bookkeeping function, but is just one part of the accounting process.The accountant creates reports from the recorded financial transactions recorded by the bookkeeper and files forms with government agencies.

There are some common methods of bookkeeping such as the single-entry bookkeeping system and the double-entry bookkeeping system. But while these systems may be seen as "real" bookkeeping, any process that involves the recording of financial transactions is a bookkeeping process.

Accountant

An accountant is a practitioner of accountancy or accounting, which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resources.

Basic of accounting

The basic accounting equation is assets = liabilities + equity. This is the Statement of Financial Position (It is the new name of Balance Sheet according to IFRS). The foundation for the balance sheet begins with the income statement, which is revenues - expenses = net income or net loss. This is followed by the retained earnings statement, which is beginning retained earnings + net income + additional capital(capital contribution) - dividends/drawings = ending retained earnings.

Equations:

• assets = liabilities + equity
•  revenues - expenses = net income or net los
• beginning retained earnings + net income + additional capital(capital contribution) - dividends/drawings = ending retained earnings.

Accounting

Accountancy, or accounting, is the production of information about an enterprise and the transmission of that information from those who have it to those who need it. The communication is generally in the form of financial statements that show in money terms the economic resources under the control of management; the art lies in selecting the information that is relevant to the user and is representationally faithful. The principles of accountancy are applied to business entities in three divisions of practical art, named accounting, bookkeeping, and auditing.


The American Institute of Certified Public Accountants (AICPA) defines accountancy as "...the art of recording, classifying, and summarizing in a significant manner and in terms of money..." transactions and events that are at least partly financial in character, and interpreting the results.

Accounting is thousands of years old; the earliest accounting records, which date back more than 7,000 years, were found in Mesopotamia (Assyrians). The people of that time relied on primitive accounting methods to record the growth of crops and herds. Accounting evolved, improving over the years and advancing as business advanced.