Accounting allows businesses to ‘shake hands’ and conduct mutually beneficial transactions.
THERE are times in any business when diversity and the pioneering spirit wins the day, and times when uniformity and conformity ensures stability.
Take accounting, for example, if every business freely chooses how to record, measure and interpret its transactions and performance, there will be chaos.
Business and the economy is a critical part of any human civilisation, and as surely as the sun rises in the east worldwide, a way to record business progress that is recognisable across the globe is also an immutable necessity.
This allows businesses, regardless of where they are based, to "shake hands"; do mutually beneficial transactions in a manner that all sides understand to ultimately gain progress for not just shareholders but also stakeholders.
ACCA helps accountants of every race, creed and belief to ‘speak’ that language in a way that all accountants will understand.
This is why corporations and governments need to hire professionals in the field of finance who are ACCA-trained.
It stands for Association of Chartered Certified Accountants and it has about 300,000 fully qualified members and over 500,000 students worldwide.
Accounting is sometimes thought of as the "language of business", and ACCA helps accountants of every race, creed and belief to "speak" that language in a way that all accountants will understand.
And just like learning any language for the first time, it is not easy and it is absolutely vital to have good teachers.
This is where UOW Malaysia comes in because it has been a Platinum-Approved Learning Partner (ALP) of ACCA for 11 years — since 2013.
To be an ACCA Platinum ALP, challenging performance targets are set by ACCA.
On top of the bottom-line of consistently high examination passing rates, exceptional course delivery must be achieved.
All the targets of the Gold ALP must first be attained before further targets relating to course delivery and even the way the institutions are run are measured.
There are 13 ACCA exam papers divided into three levels – Applied Knowledge, Applied Skills and Strategic Professional.
Studying for them leads students to gain in-depth knowledge of accounting and finance as well as organisational management and strategies.
UOW Malaysia further develops students to meet global standards and grooms them to harness skills ranging from technical, ethical and interpersonal skills and competencies vital for future job placements.
This is done through Career Development Programme involving guest lecturers invited from the Big Five accounting firms provided twice every semester.
Students also undergo business simulation exercises that flex their abilities in strategic-thinking, decision-making, problem-solving, financial analysis, market analysis, operations efficiency, teamwork and leadership.
They also attend audit workshops to experience the rigours of performing audits.
UOW Malaysia students pursuing the Bachelor of Accounting and Finance (Hons) or the Bachelor of Accounting (Hons) undergo such comprehensive training that they will be exempted from needing to take all of the nine fundamental ACCA papers.
This means they only need to complete an additional four papers to be ACCA-certified.
For students less inclined towards finance and accounting and prefer to delve more deeply into the field of business, UOW Malaysia has readied a variety of degree programmes including the Bachelor of Arts (Hons) in International Business Management.
This knowledge earned from pursuing this degree is vital because businesses today must cross-borders to realise their potential.
On top of a global market of customers, businesses often need to set up facilities involved in manufacturing, research and development and resource acquisition in countries other than where they are based.
Aside from the rudiments of business, students must also examine subjects including the Global Business Environment, International Growth Strategies, Resourcing and Marketing, and International Operations Management.
Several more business degrees and diplomas are offered in UOW Malaysia, and it has produced graduates of such calibre that the campus recently won the Employers' Preferred Universities in the National Graduate Employability Index (Third Edition) 2023 award from Talentbank.
UOW Malaysia is part of the University of Wollongong Australia’s (UOW) global network, but has a long history of providing accessible, quality, tertiary education in Malaysia, and the surrounding regions, as KDU college and university colleges.
UOW is a top one percent university and is ranked 162nd in the world (QS World University Rankings, 2024), the 14th best modern university in the world according to QS Top 50 Under 50 Rankings 2021 and the 23rd in the world by Times Higher Education Young University Rankings 2021.
In addition to Malaysia, the University of Wollongong’s global network extends to campuses in Australia, Dubai and Hong Kong.
For more information, visit www.uow.edu.my to make an appointment with education advisers.
