1. business and industrial

MONDAY, MARCH 4, 2013
Business, Accounting
& Finance
In collaboration with
Undergraduate
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WHAT IS
ACCOUNTANCY
REALLY LIKE?
PAGES 2&6
THE LATEST TREND
IN COURSES
REVEALED
PAGE 6
GO PLACES WITH
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DEGREE
PAGE 7
PAGE 2 | NEW Straits TIMES monday, march 4, 2013
undergraduate focus business, accounting & finance
Top notch careers in
fruitful financial fields
The basics of accountancy and finance may not have changed a lot
over the centuries — they still involve the recording, reporting and
analysing of financial transactions — but the roles of the professionals
in these industries have certainly evolved. Anushia Kandasivam speaks
to professional bodies about what to expect out of a career in finance
and accountancy
E
very business needs an expert on
financial matters. A small business
may need just one accountant, but
a large company may need several, a
few auditors, and an in-house company
secretary, a professional who ensures
the business is in compliance with all
the relevant financial and corporate
rules and regulations.
The career opportunities for accountants are very bright, and will probably
get even better. “The financial sector
is a catalyst of economic growth, so
the demand for skilled accounting and
finance professionals will continue to
grow in the coming decades,” says Ho
Foong Moi, CEO of the Malaysian Institute of Accountants (MIA).
“The government’s initiatives to
develop the professional services sector, especially financial services, are also
helping keep this profession buoyant,”
she continues. “Even shrinking economic growth may fuel demand for
accountants as a tougher economic
climate will make the financial insight
provided by qualified professionals
even more valuable.”
The internationalisation of accounMany Malaysian accounting grating practices, and cross-border invest- duates also see better opportunities
ments and financial operations means outside the country in terms of salary
that there are more career opportuni- or career progression enhancing their
ties. There are much wider choices of international exposure and marketabiindustry to work in, and more diversi- lity, says Ho.
fied roles in organisations. Work expeWith an accounting degree, it is
rience is easily transferrable to coun- even possible to venture into other
tries that apply the same
fields. “Accountants are
accounting standards.
incredibly versatile and
“In the next five or
can move into any other
10 years, we can expect
business discipline. An
the traditional career
accounting qualification
paths of finance prodoes not pigeonhole you
fessionals to evolve in
into an accounting role,”
new directions, and the
says Lopez.
industry will necessarily
A survey conducted
look at and for different
by ACCA has shown
types of experiences
that 62 per cent of its
and skills,” says Jennifer
members in Malaysia
Lopez, country head of
have multi-sector expeACCA. “The professional Jennifer Lopez,
rience, and 59 per cent
accountant’s skills and Country Head of ACCA
anticipate starting their
knowledge will have
own business in the near
more global mobility as the financi- future. The MIA has as its members a
al and economic landscape becomes celebrity chef, financial and business
more integrated.”
journalists, television personalities,
heads of large corporations and busiDemands
ness owners.
Evolving scope
In accountancy, there are many speAccountancy has changed over the cialisations to choose from. Currently, Needs
The accounting profession and the
years — about 20 years ago, the focus amongst the most in-demand skills are
was mainly on basic financial processes enterprise risk management, taxation, professional tend to be underestimated
and ensuring the business had access financial reporting, auditing, forensic by many. It is not a boring job filled with
to capital.
accounting, and assurance. Manage- numbers and calculations. An accounNowadays, technological advance- ment accountants are also in demand tant is not a bespectacled nerd with a
ments, new business practices, regu- globally, and there is a current shortage giant pocket calculator lugging around
a backpack filled with sheaves of papers
latory changes and globalisation are of graduates in this field.
rapidly changing the financial business
Each of these areas requires expe- and a heavy laptop.
Accountants have to be up-to-date
world, bringing many
rience and a certain
opportunities to the
amount of specialised with latest knowledge and skills and be
accounting profession.
skill. Professional bodies able to use the latest accounting techThe role of accounsuch as ACCA, MIA and
tants has moved beythe Chartered Institute
ond pure f inance;
of Management Accounaccountants must now
tants provide training
oversee rigorous risk
and certifications for
management and have
professional qualificaThe New Straits Times is hosting a
a hand in making strations and specific skills.
series of career talks aimed at infortegic business decisions.
“At the end of the day,
ming and educating school leavers
They must impose the
however, specialisations
(SPM) and pre-university students
professional rigour of
are determined by the
(STPM/Matriculation/A-levels) and
the finance department Ho Foong Moi, CEO of
interests of the indivitheir parents about career options,
across all areas of busi- MIA
dual,” says Foo. “Some
careers in demand, qualification
ness activity.
people even venture
requirements for higher education
“Accountants are an integral part into seemingly unrelated fields such as
institutions and careers, and the
of strategic decision-making and cor- human resources or corporate commuvarious funding options available
porate governance,” says Foo Yoke Pin, nications.”
out there.
the Executive Director of the MalaysiThe diversity of the accounting
The third installment of talks, to
an Institute of Chartered Professional profession means that accountants
be held on 9 March, will be on the
Accountants (MICPA). “An accountant are highly sought after even outside
topic of accounting, business and
now wears the hat of a business partner Malaysia. Most local institutions of
finance. At this talk students will
and is someone who knows the ins and higher learning have the same stanlearn about choosing the right course
outs of the business and the numbers dards and course accreditations as
that go along with it.”
international ones.
nologies if they are to remain relevant
and valuable in this dynamic and rapidly
changing industry.
Becoming a professional accountant
is a valuable asset here. Many local graduates are content with just a degree,
but in this era of globalisation, this attitude will set them back, says Ho.
Certification by and membership
with a professional accountancy body
will provide better opportunities for
accountants to practice their trade
internationally and practice continuous
learning. Professional qualifications
such as ACCA and CIMA ensure that
accountants have the necessary skills
to perform according to their organisations’ needs. As with any profession,
continuous professional development
courses, which are provided by professional bodies, are essential for accountancy practice.
Another problem that Malaysian
accountants face is being too bookish
or traditionally technical. Sometimes
they are not equipped with the knowledge and skills to handle current and
upcoming trends in the industry, or
are not able to keep up with industry
changes.
Sometimes, while the education
they receive is top-notch technically,
graduates do not have the ability to
effectively communicate either verbally or in writing, a very important
skill when it comes to reporting and
liaising with clients and business partners. Professional and ethical conduct
is also vital in this industry.
What really matters
do before enrolling in any course is to
carry out some research – not just into
what the course is about, but into what
the profession is like and what they can
expect from a career.
The next thing is to realise that as
with any profession, there is no shortcut
to becoming a successful accountant.
“The journey to become a professionally qualified accountant in business,
in public practice or in academia is long
and full of challenges,” says Ho.
“Perseverance is an essential attribute, not only as a professional accountant, but also in every aspect of life,”
adds Lopez. “Also, accountants will be
called upon to lead, so they should be
knowledgeable even about matters
outside the financial sphere.”
The right values and attributes are
not difficult to develop if an aspiring
accountant does not already have them
–problem solving, forward thinking
and being a collaborative team worker
and a capable communicator of shared
understanding, for example.
But besides technical competence
and sound knowledge of subject matter, observance of ethics and values is
critical in order to uphold the integrity
of the profession. Obtaining a professional accounting qualification after a
degree should enable one to learn and
develop all these attributes.
The most important thing is, of
course, to be passionate about the field
one has chosen.
For more insights into careers
in finance, turn to Page 7
The smartest thing a student can
Listen up!
to suit their interest, what to expect
from a career in this field, and how to
eventually obtain a professional certification, amongst other significant
subjects.
Parents, students applying to public and private universities for these
courses, and students considering
business, accounting and finance as
an option will certainly benefit from
the information gleaned from these
experts.
The career talks will be held at the
Women’s Institute of Management,
7 Jalan Haji Openg, Taman Tun Dr
Ismail,60000 Kuala Lumpur, from
9am — 12pm.
The New Straits Times Career
Talks are free for students, parents
and the public. Seats are limited, so
interested parties should register
online now at www.afterschool.
my/nstp, or call Sharmini Bala at
012-3845670. The final talk will be
on medicine, dentistry and pharmacy
and will be held on 17 March.
monday, march 4, 2013NEW Straits TIMES | PAGE 3
undergraduate focus
business, accounting & finanCe
Programmes to
catapult careers
S
EGi University Group offers a wide variety
of business and accountancy programmes from certificate to master’s level and
students have the luxury of enrolling in SEGi’s
home-grown programmes or twinning programmes with a list of reputable British and
Australian universities.
School leavers may begin with either the
Certificate in Business or Business Studies, or
Foundation in Commerce. SEGi also has a wide
range of diploma programmes in business
administration, marketing, accounting, human
resource management, and Islamic banking that
students can pursue after their pre-university
programme.
Working adults who wish to upgrade their
knowledge and skills in marketing, accountancy
or human capital management can opt for the
short one-and-a-half-year Executive Diploma
programmes available.
Graduates of SEGi University’s business and
accountancy degree programmes receive dual
awards – University of Abertay Dundee and SEGi
University.
The SEGi University Bachelor of Accounting
(Hons) is a four-year degree programme following requirements set by the Malaysian Institute of Accountants, which ensures the quality and
the curriculum of accounting programmes in
this country are comparable with the standards
of accounting programmes at the international
level while meeting the needs of industry.
SEGi Diploma in Accounting and Bachelor of
Accounting (Hons) graduates are given exemption accreditations for four ACCA papers and
Business and accounting students of SEGi
College Subang Jaya conducting fun
activities for underprivileged children.
SEGi takes pride in inculcating the value
of corporate responsibility in its business
students.
nine ACCA papers respectively, the maximum
number of exemptions awarded to any institution of higher learning worldwide.
For more information
www.segi.edu.my
Honour for varsity
Taylor’s University made history by obtaining
the highly coveted Tier 6: Outstanding rating
in the Malaysian Ministry of Higher Education’s
Discipline-Based Rating System (D-SETARA)
recently. Taylor’s University is the first and only
university to achieve Tier 6, the highest rating in
this inaugural rating exercise conducted by the
Malaysian Qualifications Agency (MQA).
D-SETARA is a rating system that evaluates
four specific disciplines — hospitality and tourism, engineering, health sciences, and medicine,
dentistry and pharmacy for the undergraduate
level in local institutes of higher learning.
The Tier 6 rating was awarded to Taylor’s
University’s School of Hospitality, Tourism
and Culinary Arts (TCHT) in recognition of the
school’s international reputation for superior
quality as well as teaching and learning excellence.
Professor Datuk Dr Hassan Said (pic), Taylor’s
University’s Vice Chancellor and President says,
“We are honoured to be the first institution
to be granted the ‘Tier 6: Outstanding’ rating
by MOHE for D-SETARA 2012. Achieving this
award presents a highly significant and defining
moment for us as it reflects our perseverance in
and dedication to providing the highest quality
undergraduate teaching and learning in Malaysia.”
To date, TCHT has garnered more than 60
other awards including the PATA (Pacific Asia
Travel Association) Gold Award 2008 (Education & Training); being voted the ‘Most Popular
Private College/University in Malaysia’ for Hospitality & Tourism in the Malaysian Student Survey 2009; and the Honorary Award 2010-2012
Professor Datuk Dr Hassan Said is
Taylor’s University’s Vice Chancellor and
President
presented by the 9th Hospitality Asia Platinum
Awards (HAPA) Malaysia.
“Our key advantages lie in the strength of
our programmes, rigorous, up-to-date and
relevant teaching processes that meet industry demand and expectations, implementation
of technology in teaching and learning infused
within our state of the art facilities.
Attaining the 6-star rating will drive us
further towards competing against top institutions in the region and around the world,” says
Neethiananthan Ari Ragavan, Dean of Taylor’s
University School of Hospitality, Tourism and
Culinary Arts.
For more information
www.taylors.edu.my
PAGE 4 | NEW Straits TIMES monday, march 4, 2013
undergraduate focus
business, accounting & finance
New business
faculty has
plenty to offer
W
ith almost everyone boasting similar
achievements these days, what can
one really do to stand out from the
rest? MAHSA University’s Business Faculty is
giving students the opportunity to shine brighter than their peers with a gateway to obtain a
highly sought-after professional qualification.
Students pursuing the Bachelor of Accounting (Honours) programme at MAHSA now have
a unique pathway to the professional Chartered
Institute of Management Accounting (CIMA)
qualification, made official with the signing
of the Memorandum of Understanding (MoU)
between MAHSA University and CIMA last
January.
MAHSA’s Pro-Chancellor and Executive
Chairman, Professor Datuk Dr Mohamed Haniffa
Abdullah says the new Business Faculty offers
four courses: the Foundation in Business, the
Bachelor of Business Administration (Honours),
the Bachelor of Accounting (Honours) and the
Master of Business Administration.
CIMA and the unique MAHSA gateway
CIMA is the largest management accounting
body in the world with almost 200,000 members and students in more than 175 countries.
This UK-based professional body offers training
for a qualification focused in accounting for business.
CIMA is also a member of the International
Federation of Accountants, which is the global
organisation for the accountancy profession.
MAHSA will now enable its students who are
pursuing the Bachelor of Accounting (Honours)
programme to sit for the CIMA gateway
assessment during the final semester of their
degree.
Upon successful completion of this assessment, students will be granted exemption from
11 out of the 15 papers required for the CIMA
examinations. The student will then be entitled
to continue the CIMA strategic level and T4 case
study, sitting for only four of the remaining
professional papers. Upon completion of these
papers along with three years of mentored service, they will be eligible to apply for Malaysian
Institute of Accountants (MIA) membership.
Why a CIMA qualification?
CIMA is one of the most relevant accounting
qualifications one can obtain for a career in business. The roles of management accountants are
crucial to a business. They include interpreting
financial information and guiding critical decision making in a business. Chartered management
accountants are also given a high level of trust in
making the best choices, and they drive a strong
business performance. It is hardly surprising
then that many top CFOs, CEOs and management consultants are chartered management
accountants.
The MAHSA Business Faculty
Other courses offered by the MAHSA Business Faculty include the Foundation in Business,
Bachelor of Business Administration (Honours),
and the Master of Business Administration. The
faculty’s Head of Department, Chung Cheng Hoe
says “The Business Faculty lives up to its mission of going ‘beyond the classroom’ and ensures
that the programmes are intensively practicaloriented. The ‘incubator’ method adopted allows
students to gain hands-on experience in running their very own business operations, be it
an accounting firm, a paper business or even a
mini restaurant”.
The MAHSA Business Faculty has given
MAHSA an excellent start in its exciting new
venture as it begins to move away from healthcare education to other realms of education in
keeping with MAHSA‘s recently obtained university status..
For more information
www.mahsa.edu.my
monday, march 4, 2013NEW Straits TIMES | PAGE 5
undergraduate focus
business, accounting
& finance
Business
degrees great
for any career
T
he study of business is one that is very wide as business-related industries
change rapidly to meet the need of both consumers and manufacturers.
Students who intend to take up business can opt to branch out into
specific fields like marketing, human resource, business administration, public
administration, economics and commerce. Students should remember that
in addition to a qualificaton in business, they must possess good people and
communication skills as it is an integral part of any organisation.
Marketing
Those interested in taking up a marketing degree must be good in mathematics to a certain extent as business studies are often inter-related with subjects in accounting and finance. Marketing students, however, will focus more
on the marketing aspect of a business like global marketing ethics and culture,
corporate social responsibility and sustainability, market and social research,
to name a few.
Graduates with marketing degrees can choose to pursue careers in human
resource, finance, banking, public relations and advertising, in addition to the
typical marketing executive job. Travel is a big part of marketing so when working in the marketing field, graduates will be expected to travel both locally and
overseas to meet clients to discuss the promotion of brands and products.
Human Resource
A common misconception is that human resources is just about hiring
and firing people. In reality, in involves a lot more. It is the management of
an organisation’s resources in the best possible way that is profitable to the
organisation and results in job satisfaction for the employee. Those working
in the human resources department will also be required to conduct training,
monitor staff performance and in some cases, offer counselling to employees. In
large organisations, the human resources department can be more streamlined
to specific roles like legal compliance or pension plan administration. Human
resource graduates can also find employment in other fields like finance, banking and public relations.
Business Administration
An undergraduate programme in business administration takes four years
to complete. Business adminstration is a commerce-related field and covers
topics like accounting, business law, economics, finance, human resource
and marketing. Additionally, students can choose to specialise in accounting,
entrepreneurship, real estate, finance, human resource, legal management,
information technology, supply chain management and the like. Because the
programme covers a wide range of commerce fields, graduates are able to work
at almost any department of a company that is business-related.
Most business graduates start off as management trainees where they
will be rotated through the different departments of an organisation. Upon
completion of their training, which could take between 12 and 18 months, they
will then be assigned to a specific department. With a business qualification,
graduates are also well equipped to start their own businesses.
Public Administration
Public administration is the study of implementing public policies by civil
servants to an official government executive framework. A public administrator
would be responsible for managing local, state and federal-level public services
for the benefit of citizens. A public administration degree is very similar to a
business degree as it too is management-based, but a public administration
degree focuses more on governmental and non-governmental organisation
policies and how they work. In addition to a paper qualification, those interested in public administration must possess soft skills as a large part of the job
involves meeting people.
A degree in public administration will allow graduates to take up jobs in
the government, as well as jobs in non-governmental organisations as auditors, systems analysts, mediators, insdustrial relations specialists and customs
inspectors.
Economics and Commerce
Another field of study for students to branch into is economics and commerce. This would be ideal for students who like numbers as it involves a lot of
mathematics courses in its syllabus, like statistics. Economics and commerce
graduates can find jobs in advertising, banking, finance, investment, mortgage
and market research.
After graduating with a bachelor’s degree in business studies, graduates
can opt to go further and pursue a master’s in business administration (MBA).
With an MBA qualification, it will be easier for one to attain a managerial role.
Traditionally, MBA programmes require applicants to have about two to three
years of working experience. A degree in business affords graduates with many
career options and it is definitely for those who like choices.
SEE ALSO: Page 6 for trending business courses
PAGE 6 | NEW STRAITS TIMES
MONDAY, MARCH 4, 2013
UNDERGRADUATE FOCUS BUSINESS, ACCOUNTING & FINANCE
What every aspiring
accountant should know
The road to becoming an accountant can
be taxing but for those who are up for the
challenge, it can lead to a rewarding career
I
N Malaysia, graduating with an
accounting degree does not automatically make a person an accountant.
To practice or to obtain the Chartered
Accountant C.A. (M) status, you must
register with the Malaysian Institute of
Accountants (MIA). To become an MIA
member you must to fulfil one of the
following requirements:
ROUTE 1
Possess a recognised local accountancy degree under Part 1 of the First
Schedule of the Accountants Act
1967
ROUTE 2
Be a member of a recognised professional accountancy body under Part
II of the First Schedule of the Accountants Act 1967
ROUTE 3
MIA QUALIFYING EXAMINATION
If you have a local or foreign accounting degree or other qualifications
relating to accounting, business or
finance that are not recognised under
the Accountants Act but are recognised by the Public Services Department
or the MIA Council, you may sit for the
MIA Qualifying Examination (MIA QE).
THE ROAD TO BECOMING AN
ACCOUNTANT IN MALAYSIA
Those who graduated from twinning
and 3+0 programmes are also eligible
to sit for the MIA QE. Your qualifications should not be lower than a first
and must contain at least 60 per cent
of accounting content.
WORK EXPERIENCE
Once you have fulfilled one of the
above requirements, you must obtain
at least three years relevant working
experience in accounting, business
or finance before applying for MIA
membership to become a fully-fledged
accountant or Chartered Accountant
Malaysia , C.A. (M).
To facilitate aspiring accountants
out there to gain relevant working
experience after completing their studies, MIA has put in place a Chartered
Accountants’ Relevant Experience
(CARE) Programme. This programme
provides guidance and sets out a range
of competencies that need to be obtained by aspiring accountants before they
can become a C.A. (M). Under this programme, a mentor will be appointed to
supervise the CARE candidate until the
person has completed the three years
required working experience.
For more information
www.mia.org.my
Graduates
Recognised
accountancy
examination
programme
Become a full
member of one
of the
recognised
accountancy
bodies
Recognised
university
accountancy
degree
MIA CARE
CA(M)
Unrecognised
university
accountancy
degree/
accounting body
programme
Pass the MIA
Qualifying
Examination
(MIA QE)
Obtain 3 years
relevant working
experience
Source: MIA
About MIA
THE Malaysian Institute of Accountants (MIA) is the umbrella body
for the accountancy profession in
Malaysia. MIA was established under
the Accountants Act, 1967 to regulate and develop the accountancy
profession in Malaysia. MIA is the
only accountancy body empowered
by law to regulate the accountancy
profession in Malaysia thus making
MIA membership mandatory for
those who want to hold themselves
out or practice as an accountant in
the country.
In brief, MIA’s membership encompasses both legal and market recognition for accountants in Malaysia.
Members of MIA are conferred with
the designation Chartered Accountant
Malaysia - C.A.(M). This designation is
given to a professional in accountancy,
business and finance with recognised
accountancy qualification and relevant
work experience. At present, there
are more than 29,000 MIA members
making their strides in business across
all industries both in Malaysia and beyond its borders.
As an umbrella body for all the
accountants in Malaysia, MIA’s responsibilities include education and
quality assurance as well as enforcement, all of which are carried out to
ensure that the credibility of the profession is maintained and that public
interest is continuously upheld. MIA
plays a significant role in developing
and advancing the global accounting
profession through its involvement in
organisations such as the International Federation of Accountants and the
ASEAN Federation of Accountants.
MIA’s involvement in these bodies
enables Malaysian accountants to
have a voice on these global and
regional platforms, thus enabling the
latest developments overseas to be
brought home for the betterment of
the profession.
Ethics, internationalisation and a digitised world
BORED of everyone telling you to get a
business degree without knowing the
appalling number of choices you have
to face? Take a look at our compilation
of hot courses. There is a definite trend
for ethics and culpability, recognition
of the importance of the digital world
and an eye for internationalisation in
the current popular courses.
RISK MANAGEMENT AND STRATEGIC
MANAGEMENT
Risk and strategic management
focuses on ensuring a business runs
eff iciently. Where risk management
identifies and prioritises risks to eliminate, manage or reduce so that the
business is not sidelined by something
that could have been avoided, strategic management is the identification
of active steps that can be taken by the
management to improve performance
as a whole. Often programmes from
either risk or strategic management
would have an overlap, resulting in
universities offering one or the other.
In Malaysia, risk management and
strategic management are offered as
a programme or a course in Sunway
University, Universiti Utara Malaysia
and the International Islamic University Malaysia.
Students who sign up for a
bachelor’s in risk management and
strategic management can expect to
attend courses like risk and insurance;
futures, options and risk management,
and credit risk management. The starting pay of a graduate in the field numbers between RM2,500 and RM3,000.
Senior managers pull in fairly enviable
salaries before they are 40, with a range of RM8,000 to RM15,500.
INTERNATIONAL BUSINESS
According to the Monash University
Malaysia’s School of Business, international business is a subject that’s been
increasing in popularity the most. They
attribute its current prevalence to globalisation and the declining barriers in
trade and investment that have multiplied the opportunities for businesses
of any size. “Courses such as interna-
tional business expose students with
an understanding and knowledge of
all external (environment) and internal factors (resources and capabilities) influencing firms that plan to be
involved in global business. The fact is
that in the current age even traditional businesses like retailing, education,
and healthcare have gone international,” they state.
A degree in international business
can open up a lot of opportunities to
students who like the idea of exploring
new international markets and enjoy
delving into the workings of new cultures and finding out how they tick
economically. A programme like international business would cover topics
like international trade law, international marketing, Asian economic
development and European business
environment.
On average, a fresh graduate can
expect a starting pay of RM2,000 to
RM3,000, depending on the industrial
sector, intensity of job scope, the size
of the firm and whether they are hired
by a local or international firm. Among
the universities in Malaysia that offer
programmes in International Business
are INTI International University and
Colleges, The University of Nottingham Malaysia, Taylor’s University and
Universiti Teknologi MARA.
MULTIDISCIPLINARY COURSES
The borders between nations are
not the only ones that economy is
moving beyond – it is also influencing
partitions between business and other
previously unconnected industries and
areas. The effects of both globalisation
and the near-absolute dependence on
the Internet and information technology has gotten both academics and
employers to rethink what it is that is
needed in graduates and fresh hires.
What do you do when just a degree in
management or business isn’t enough
to get you as far as you want to go?
Nowadays institutions of higher education have caught up on the
multidisciplinary hype, offering programmes that combine subjects from
two different faculties to feed the ever
diversifying industry demands. Some
of the more popular combinations are
management and information technology, management and a foreign
language and management and psychology. This diversifying in subjects
will help graduates to expand their
opportunities and find a better fit
when it comes to job searching.
The University of Nottingham
Malaysia Campus offers a bachelor
of management studies in combination with a foreign language: French,
German, Japanese, Korean, Mandarin
or Spanish. These programmes aim
to create and expand international
ties and increase the ease of communication during business processes.
To cater to the ever-growing digital
world, Open Universiti Malaysia has
a programme that is a marriage of
management and IT: the bachelor of
information technology and management. Fresh graduates can expect a
salary of RM2,000 to RM3,000 upon
graduation.
monday, march 4, 2013NEW Straits TIMES | PAGE 7
undergraduate focus
business, accounting & finance
A field that opens many doors
T
he field of business reaches far
and wide. People with business
degrees do not necessarily have
to be confined to traditional business
roles as exemplified by Stephanie Ambrose. Ambrose obtained a Bachelor of
Business Administration with a major
in Multimedia at the Multimedia University and upon graduation, joined a
publishing firm as a sub-editor and then
joined a lifestyle magazine as a writer.
“Typically a business graduate
would start as a management trainee
doing basic administration tasks. I am,
however, one example of a business
graduate who has not done anything
business-related,” she says.
The job market for fresh graduates
was very good when Ambrose graduated, plus there was also a high rate of
employment for fresh graduates from
MMU. “It may be tougher nowadays
as the environment has become very
competitive.”
Ambrose says that a degree in business is a very general one and gives you
a wide range of job options, but feels
that it does not carry as much weight
as specialised courses like finance and
accounting. She does, however, go on to
say that business graduates have better
opportunities locally than overseas as
the market here is very broad and graduates can explore different fields and
“If you intend to
start a business after your degree, you
should have a clear
idea of how you
intend to manage it
and then work out
how best a business
degree can help you
catapult your company.“
Stephanie Ambrose
elements of business.
Based on her job experience of
meeting and speaking to countless
international graduates, she does not
believe that a local studying experience
can compare to that of an international university. “The quality of English
that is spoken is the biggest indicator,
Not your usual
business jobs
Business graduates can go on to pursue very interesting careers. Here’s
a look at some atypical business jobs options.
Compliance officer
but also the confidence and maturity
of international graduates cannot be
matched,” she explains.
For those interested in taking up a
business degree, Ambrose’s advice is
to carry out research and understand
business in general and all aspects of
it before deciding on which of these aspects suit them best in terms
of interest, career development and
ambition.
“If you intend to start a business
after your degree, you should have a
clear idea of how you intend to manage
it and then work out how best a business degree can help you catapult your
company,” she says.
Compliance officers are people who ensure that businesses are operating according to the set regulations, permits, licensing requirements
and laws. They can work for the organisation that they’re reviewing or for
external agencies that are recruited to carry out compliance work. A broad
range of industries including government agencies require the services of
compliance officers so graduates can choose to work in very diverse working environments from a regular office setting to off-site field work.
Loan officer
The job of a loan officer includes advising, evaluating and authorising
loans to both individuals and businesses. Typically loan officers would work
in commercial banks, car dealerships, mortgage companies and credit unions. As a loan officer, one will be required to possess good interpersonal
skills as this is a job that requires dealing with people on a day-to-day
basis.
Logistician
In the event of a natural disaster, logisticians are the ones who coordinate the responses to these calamities. Logisticians ensure that the proper
equipment, supplies and skilled technicians respond to the scene quickly
and are well-equipped. Logisticians are employed in almost every industry,
from retail to the government. In the private sector, logisticians can be in
charge of handling shipping, warehousing and distribution.
Finance: Planning, protecting, creating
Every reasonable adult is insured.
Most parents take out insurance policies for the benefit of their children.
People are always told to plan their
finances carefully to ensure they have
a comfortable retirement.
But how do you know what kind of
insurance to get, and who do you get
it from? What are the best investments
out there, and how much do you invest?
The people who provide you with this
essential advice are insurance agents
and financial planners.
country’s economy.
What is it exactly?
Basically, a financial planner is someone who assists people in determining
their financial goals, objectives and priorities and the resources to meet them
in an optimal and practical way.
“People are often faced with a confusing array of products representing a
myriad of risk adjustments returns. The
service of a financial planner is often
necessary for them to make informed decisions on their investment,”
explains Jason Ng, Vice President of
External Relations & Publicity at the
Malaysian Financial Planning Council (MFPC). “A good financial planner
has the ability to take into account all
relevant aspects of your financial situation, and to identify and analyse the
inter-relationship among sometimes
conflicting objectives. It is this unique
integration of knowledge and skills
across a broad range of fundamental
topics that distinguishes a professional
financial planner.”
Khadijah Abdullah, CEO of the
Malaysian Insurance Institute
An insurance agent, meanwhile, is
a person who has a contract with an
insurer (for example, Great Eastern
Life Assurance or Zurich Insurance
Malaysia) and sells insurance for that
company.
“The agent is given authority to
bind coverage — legally obligate the
insurance company to provide coverage
according to the terms and conditions
as bound,” says Khadijah Abdullah,
CEO of the Malaysian Insurance Institute (MII).
A good career?
These two sectors of the finance
industry are growing steadily in Malaysia. There are more opportunities for
full-time and part-time insurance
Jason Ng, Vice President of
External Relations & Publicity at
the Malaysian Financial Planning
Council
agents nowadays. Many banks and
insurance companies have established
personal wealth management departments, priority banking services, will
writing services, and private retirement
schemes, all of which are financial planning services.
The sectors are also evolving with
the times. Unlike 10 years ago, there
are many more options in the insurance
industry, requiring different disciplines
and job functions, such as customer
service, compliance and risk management.
In fact, Malaysia is regarded as one of
the faster developing and highly promising markets for insurance in the Asian
“The insurance
industry can offer
you great selfdevelopment and
other rewards. With
determination,
tenacity, passion and
integrity, anyone can
be successful in this
career.”
Khadijah Abdullah
region, says Khadijah. This has enticed
more international insurance players
to locate their foreign business here,
consequently creating further career
opportunities for Malaysian talents.
The financial planning profession
has developed significantly over the
past few years; professional financial
planners now require a Financial Adviser License issued by Bank Negara
Malaysia and a Capital Markets Service License issued by the Securities
Commission Malaysia, indicating that
this sector has become more popular
among the public and important to the
What do you need?
Anyone with the interest and the
passion for it can become an insurance
agent or a financial planner. Although
most financial planners do have an
accountancy qualification or other
financial background, it does not matter what your diploma or degree is in.
All you need is the proper certification.
The MFPC, for instance, offers the
Registered Financial Planner (RFP) and
Shariah RFP certification, and then,
of course, financial planners need to
obtain their licenses. Insurance agents
must pass a Pre-Contract Examination
for Insurance Agents and the Certificate Examination in Investment-Linked
Life Insurance through the MII, and be
registered with the insurance associations — General Insurance Associations
of Malaysia and Life Insurance Association of Malaysia.
“With the right mixture of knowledge, skills and attitude, financial planning can be a very rewarding career,”
says Ng. “You will have the satisfaction
of knowing that you have helped families protect and create wealth, leading
to their peace for them and a meaningful life for you.”
“The insurance industry can offer
you great self-development and other
rewards,” adds Khadijah. “With determination, tenacity, passion and integrity, anyone can be successful in this
career.”
PAGE 8 | NEW Straits TIMES monday, march 4, 2013
undergraduate focus
business, accounting & finanCe
Giving students
exceptional
experiences
I
NTI’s recent launch of a new RM40 million
campus in the heart of Subang Jaya marked
the rise of a greatly enhanced teaching and
learning environment encompassing not only
state-of-the-art facilities and technology, but
also brand new programmes of study offered
via an innovative blended and online learning
platform.
The new INTI International College Subang
(IICS) has the capacity to accomodate 7,000 students. Its amenities include a new three-storey
building that houses a 300-seat auditorium,
which serves as an impressive venue for presentations by local and international speakers as
well as ample learning spaces. It also houses
INTI’s new Center of Art & Design complete with
a design gallery, studios, Macintosh and Autocad
labs, materials library and design centre.
“The launch of the new campus is not just
about the building itself or the investment we
have put in towards new facilities. It is about
improving ourselves to provide a student-centred educational experience and to enable us to
more effectively educate and groom the next
generation of industry and world-ready graduates,” says Dr Dominic Szambowski, President
of IICS.
With the new campus, IICS will be launching
new programmes in the field of art and design
with the first intake beginning next month. The
programmes include certificate, foundation, diploma and 3+0 degree courses in fashion, graphic
INTI’s new facilities, including its Center
of Art & Design, provide an invigorating
environment for innovative and
individualised learning.
design, interior design, interactive, multimedia
and animation, which are designed in collaboration with the UK’s Sheffield Hallam University.
INTI had also recently launched a new Masters
of International Business programme offered
in collaboration with the University of Wollongong.
In addition, a new INTI campus will be established this year in downtown Kuala Lumpur.
Additional investments are also being made to
upgrade its campus facilities in Nilai, Penang
and Sabah. For more information
www.newinti.edu.my
Business degree the
fast, smart way
In today’s increasingly competitive job market,
having a business degree provides versatility. It
allows one to venture into many industries and
fields such as finance, economics, law, hospitality
and tourism, communications, marketing and
human resource management.
Brickfields Asia College (BAC), the recent
winner of the Brand Laureate SMEs Best Brands
Award in 2012 for Corporate Branding in Education (Law) now aims to set students on yet another path towards a multitude of career options
by providing the new UK Transfer Degree Programme (Business) or more commonly known
as the UKT (Business) programme.
This programme, offered under the Brickfields Business School enables students to develop a firm understanding of business realities
while strengthening their leadership, analytical
thinking and life skills such as communication,
presentation and organisational abilities.
The programme is also designed to provide students with the flexibility of completing
either the first year or first two years of their
degree locally before transferring to the UK for
the remainder of the course.
A distinct advantage of the UKT (Business)
programme is that students only need to select
their specialisation before entering the final year
of study at the university of their choice. This
gives them time to explore their interests. In
their first two years, students will cover core
modules that are relevant to all majors, giving
them a strong foundation in business.
The foundation of the quality education that
An artist’s impression of BAC’s campus in
Petaling Jaya that will be launched soon.
BAC provides lies in its faculty of highly-qualified and significantly-experienced lecturers.
Students are also equipped with free books
and study materials as well as online educational resources that can be accessed via BAC’s
interactive learning portal (Learning Management System).
To further assist students with their university education, the Brickfields Education Fund
awards Merit Scholarships and Financial Aid
Scholarships based on academic excellence and
financial need. Other forms of financial assistance include zero interest instalment payment
schemes, PTPTN loans, and EPF withdrawals.
For more information
www.bac.edu.my
monday, march 4, 2013NEW Straits TIMES | PAGE 9
undergraduate focus
business, accounting & finance
Having the perfect
balance of work, play
“T
Cheah
Wee Nee
has learned
valuable public
speaking skills
as an emcee at
various events
hosted by Nilai
University.
ruth be told, I didn’t even know how
to dance but I decided to join the
Streetartz club after I saw members
practicing their dance moves on campus,”
says Cheah Wee Nee, who has a BBA (Hons)
in Human Resource Management. Since then
Cheah has gone on to become president of
the street dancing club at Nilai University (Nilai
U).
The 22-year old from Ipoh, Perak says she
has learnt a great deal from joining the Streetartz club. Besides learning some funky moves,
Wee Nee speaks about the virtues of patience,
perseverance and how the old adage ‘practice
makes perfect’ still rings true especially with
regards to dance routines.
“I previously did not think I could master the
many intricate dance moves but with constant
practice, I did. I am amazed at the progress I
have made as I am now able to choreograph
routines and teach new members. It was a real
honour when my peers selected me president
of Streetartz as it is a validation of my dance
and organisational abilities.”
Wee Nee is also currently the master of
ceremony of choice at Nilai U. Having emceed
several events including the 1World Culture
event, she is a picture of composure whenever
called upon to emcee events.
This too, is a happy coincidence as she was
asked to fill in for a missing master of ceremony
at Nilai U’s student prom night. “I recall how I
was able to overcome my nervousness and to
speak clearly. After that event, I volunteered my
services to Nilai U’s Department of Students
Affairs and Sports. I have since learnt how to
pace my speech and the importance of ad libbing when necessary,” she explains.
All this activity does not detract the young
lady from her studies. “Actually, I find the pace
at Nilai U a lot less hectic than when I was in
secondary school. I was a head prefect and also
head of the student body. Somehow, I feel there
is a nice balance between work and play at Nilai
U, whereas in school even the extra-curricular
activities felt like work,” Cheah says.
However, she is thankful for being selected
as head prefect and the head of the student
body at SMK Methodist (ACS) Ipoh as it qualified her for Nilai U’s Extra-Curricular Excellence
Award. This scholarship rewards students who
have had outstanding extra-curricular achie-
vements.
On the academic side, Wee Nee is planning
to further her studies to the master’s level as
she believes higher qualifications are important in her field. At the moment, she is content enjoying her time at Nilai U with a wellbalanced lifestyle of work and play.
For more information
www.nilai.edu.my
“Somehow, I feel there is
a nice balance between
work and play at Nilai
U, whereas in school
even the extra-curricular
activities felt like work.“
Cheah Wee Nee
PAGE 10 | NEW Straits TIMES monday, march 4, 2013
undergraduate focus
business, accounting
& finance
Be spellbound
by language
T
he study of language has fascinated many people through the ages
and English is no exception. For many years, linguists have pondered
its origin and how the language has evolved over time.
Come September, the School of English at The University of Nottingham Malaysia Campus will afford Malaysian students the same opportunity. The school will offer two new English programmes — a Bachelor of
Arts in English Language and Literature, and a Bachelor of Arts in English
with Creative Writing.
“The strength of the programmes is that there is an integration of
both literature and linguistics, and a focus on how the two disciplines
complement each other. The literature part of the programme covers a
broad range of texts, from Shakespeare right up to contemporary writers. We also consider the different ways that literature can be studied
and even though it is a literature course, we also accept students who do
not have any prior knowledge in English literature,” says Kirsten Harris,
Assistant Professor in English Literature at the University of Nottingham
Malaysia Campus.
“The programmes also encompass language studies where students
will be given a general introduction to linguistics, and we also study
literature from a linguistic perspective,” says Stephen Pihlaja, Assistant
Professor of Language and Literature at the university.
The creative writing programme teaches students to produce their
own creative work, including poetry, stories, and drama. The creative writing degree emphasises student output. Students read poetry and short
stories, and at the same time learn how to communicate clearly and effectively, an essential practical skill for working in the global economy.
“Students gain a historical knowledge of how language and literature
has developed. They are taught to analyse, research, and to think creatively
and critically — skills which are incredibly important when looking for
employment,” says Assistant Professor Harris.
“These programmes are best suited for students who are interested
in the arts, and who wish to pursue a career that involves research, communication and analysis, such as business, publishing, digital media, civil
service, teaching, broadcasting, marketing, public relations and even jobs
in museums,” adds Assistant Professor Pihlaja.
Degrees in English literature and
creative writing are offered at the
Malaysia campus.
Expanding horizons
Assistant Professors Harris and Pihlaja have also introduced a range
of activities for students on campus. Assistant Professor Pihlaja started
the Nottingham Writers‘ Group, while Assistant Professor Harris runs a
book club called ‘Pages and Leaves’.
“We started these groups on campus to get the students interested in
reading, writing and literature,” says Assistant Professor Harris.
“The book club and the writing group will be housed in the English
department but they are campus-wide activities. They give everyone the
chance to get involved in the arts,” explains Assistant Professor Pihlaja.
The school also engages in with the local literary scene and students
attend poetry recitals and other literary events held in the Klang Valley.
Recently, Assistant Professor Harris and a group of students attended a
reading session by local author Tash Aw.
Students will also benefit from the various lectures and workshops
that will be carried out by academics from the School of English in the
university’s campuses in both the UK and China.
The University of Nottingham is offering scholarships that cover 25 per
cent of the academic fees for both the English Language and Literature
programme, and the English with Creative Writing programme.
The University of Nottingham Malaysia Campus will hold its Open Day
on 23 March from 10am to 3pm. Academics will present talks and be on
hand to talk to students and parents.
For more information
www.nottingham.edu.my, enquiries@nottingham.edu.my
monday, march 4, 2013NEW Straits TIMES | PAGE 11
PAGE 12 | NEW STRAITS TIMES
MONDAY, MARCH 4, 2013
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