What Is Accounting?

Some Definitions

Just to get your brain juice flowing – here are some basic definitions of what Accounting and other related terms are:
Accounting and other related terms


Professional Accountant

Who is a professional accountant? Basically it is an individual who is professionally trained in accounting.

The MICPA-CAANZ Programme is a premier professional accounting programme that accounting graduates can pursue. Upon completion, they will qualify as a Certified Public Accountant (CPA), Malaysia and Chartered Accountant (CA), ANZ.

An accountant is also a member of an International Federation of Accountants (IFAC) member body.


The Accounting Profession in Malaysia

In Malaysia, the accounting profession is governed and regulated by a body called Malaysian Institute of Accountants (MIA).

  • Regulatory Body formed in 1967 under the Accountants Act
  • To execute the role of registration and regulation of the accounting profession in Malaysia
  • Entry Qualification:
  • Bachelor of Accountancy degree from accredited local universities
  • Recognised professional qualification in accountancy (such as MICPA)
  • MIA Qualifying Examination
  • At least 3 years of relevant work experience in public practice, commerce, industry or public sector
  • Members of MIA are entitled to use the designation of CA in Malaysia