Q1)
ONE OF THE MORE PRESTIGIOUS JOBS IN THE FINANCE INDUSTRY IS BEING AN ACCOUNTANT. THE QUALIFYING PROCESS TAKES A LONG TIME BUT STUDENTS ARE NOT DETERRED.
Accountants are employed by private accountancy firms, commercial businesses and industrial organisations or within the public sector. Their work entails: preparing accounts and tax returns; auditing financial information; giving financial advice; dealing with insolvency cases; meeting and interviewing clients; compiling, analysing and presenting information; and writing reports.
Qualification Process
In Malaysia, the word 'accountant' is protected. The Accountants Act 1967 established the Malaysian Institute of Accountants (MIA) as the national regulatory body for accountants. All persons practising as accountants or auditors in Malaysia are registered with Malaysian Institute of Accountants (MIA). Subsequent to the amendments to the Accountants Act 1967, which took effect on 28 June 2001, MIA members are now made up of 3 different groups of accountants. They are:
Chartered accountants (previously public accountants and registered accountants)
Licensed accountants (people who qualified via their vast work experience and were in practice prior to 1967, or members of the Malaysian Society of Accountants who passed any of the final examinations of that body last held in December 1992 and have gained 3 years' worth of related working experience)
Associate Members (generally, academics who are currently teaching at universities or institutions of higher learning, but who are otherwise not qualified to be admitted as members).
As at April 30, 2002, the institute has a total of 17,347 members, comprising 1,292 chartered accountants, 34 licensed accountants and 20 associate members.
18th June 2013 retrieved from http://www.crescendo.edu.my/link/mia.html
Become a accountant
The ACCA qualification is recognised by Malaysian Institute of Accountants (MIA) as one of the requirements for MIA membership as a Chartered Accountant in Malaysia. A Chartered Accountant (with practicing certificates) can set up his or her own Public Practice and provide services such as accounting, audit, liquidation, tax and other related services. Many accounting graduates from overseas (e.g. UK, Australia, US, etc) take up ACCA studies after they return to Malaysia so that they can meet the requirements of MIA membership to be Chartered Accountants in Malaysia. (Visit MIA website for more information)
18th June 2013 retrieved from http://www.crescendo.edu.my/ACCA.html

Becoming a CIMA member
You can apply for CIMA membership when you have completed the CIMA professional qualification. You also need to demonstrate three years of relevant practical experience.
What do I need to do?
Please follow the application process in the students' section, including our explanatory videos.
Once your membership application has been approved and you have been notified of this, you can use the letters ACMA after your name to signify that you are an associate chartered management accountant.
Receiving your certificate
Membership certificates are dispatched approximately 6-8 weeks after election to membership.
If you do not receive your certificate within six months, please contact us immediately and we will investigate and if necessary issue a duplicate.
If you do not receive your certificate and do not contact us within six months, you will be charged GBP35 for a duplicate.
If you need more information, please email or phone CIMA contact. 30 June 2013 retrieved from http://www.cimaglobal.com/Members/Fees-benefits-and-career-support/

Q2)
The benefits of hiring a great accountant
From minimising your tax liability to improving business structure and growth, a good accountant should recoup the cost of their engagement by increasing business profitability.
An accountant will:
Keep on top of the numbers
Unless you are able to allocate a substantial amount of time to maintaining accurate and up-to-date financial records, that small pile of paperwork could soon resemble Mount Everest. A good accountant will keep a record of every penny coming in and going out of the company, while allocating resources to boost illusive profitability and growth margins.
Tackle the tax forms
HM Revenue & Customs will not accept any tax forms that are less than perfect; if you miss the deadline, you could be fined a hefty sum and face the scrutiny of a tax inspector. Having your own accountant will allow you to take a step back from the stress, and leave you feeling confident that you are claiming for the allowances that you are entitled to.
Decrease your tax bill
Do you complete your HM Revenue & Customs documents in the way that will save your business the most money? If you aren’t sure, then it's worth hiring the services of an accountant. Tax laws are ever-changing, but a good accountant will work alongside you throughout the year to make sure that you are paying the correct amount of tax, while legally minimising liability.
Improve business growth
“Make the right decision.” This is the most basic of business mantras, but it is vital that this translates to financial decisions as well as managerial. Having a specialist to assist you in money matters can only bode well.
Company structure
Although many new businesses begin life as limited companies, other vehicles such as limited liability partnerships or trading as an unincorporated sole trader can sometimes be more viable. A good accountant will advise you on the pros and cons of each model available to you, as well as the relative filing and tax implications.
Costs related to your use of home
If you are setting up a business and intend to work from home – as many fledgling entrepreneurs do – an accountant will be able to advise on potential tax reliefs associated with the costs of running a home office. It's knowledge like this that will make a big difference to the cash flow of your new business.
Save time
Time that you spend pouring over the accounts would be more wisely invested in doing the jobs that you are good at. In short, each minute you spend analysing your business profitability could be spent on looking at new ways to generate income.
If the above points make sense to you, and you can see the benefits of having your own accountant, then the next step is choosing the right one. Fortunately, the UK’s leading find-an-accountant service, Choose Your Accountant, can help you find a number-cruncher who is equipped with the specialist expertise you require, and, more importantly, one who is keen for your business to thrive.

C)
What is Big 4 Accounting?
Big 4 usually refers to the four largest accounting and auditing firms: PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young, and KPMG. These certified public accounting (CPA) firms perform most of the audits which are required of U.S. corporations having stock that is publicly traded.
In the 1980s and before, the majority of the audits of publicly traded corporations were performed by the Big 8—the eight largest CPA firms. However, some of those firms merged with others and Arthur Andersen ceased to exist. As a result, the Big 8 is now the Big 4.
The reference to Big 4 exists because the size of each of the four largest firms is several times the size of the 5th largest firm. There was a similar size disparity in the 1980s between the 8th largest firm and the 9th largest firm.
In addition to performing audits and other assurance services, the Big 4 provide tax advising and various management services.
1 July retrieved from http://blog.accountingcoach.com/big-4-accounting/
Deloittle touché tohmatsu
About us
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte has in the region of 200,000 professionals, all committed to becoming the standard of excellence.
About Deloitte Southeast Asia
Deloitte Southeast Asia—a member firm operating in Brunei, Guam, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam—was established to deliver measurable value to the particular demands of increasingly intra-regional and fast growing companies and enterprises.
Comprising over 250 partners and 5,500 professionals in 22 office locations, Deloitte Southeast Asia Ltd specialists combine their technical expertise and deep industry knowledge to deliver consistent high quality services to companies in the region.
All services are provided through the individual practices, their subsidiaries and affiliates which are separate and independent legal entities.
About Deloitte Malaysia
In Malaysia, services are provided by Deloitte KassimChan and its affiliates.
To learn more about our capabilities and the services we offer, please view our brochures and report beside.

30 June 2013 retrieved fromhttp://www.deloitte.com/view/en_MY/my/myau/index.htm
Services
Deloitte offers a broad range of fully integrated services in areas that includes audit, tax, consulting, risk management and corporate finance.
Our concept of service stresses a total approach to our clients' needs and problems. At all times, we endeavour to provide a complete range of professional business services critical to our clients' success within a complex and changing work environment. Our client service teams, under the leadership of a Lead Client Service Partner (LCSP), create powerful business solutions for organisations in Malaysia, the Southeast Asian region and around the world.
Each of our services gives you the depth, dimension and experience you need to create and innovate.
30 June 2013 retrieved from http://www.deloitte.com/view/en_MY/my/mysvc/index.htm

Emst & Young
Arthur Young was born in Glasgow, Scotland. He graduated in law, but became interested in banking and investment. In 1890, he moved to the US to pursue his career in accounting. In 1906, he formed an accounting firm, Arthur Young & Company, with his brother Stanley.
Alwin C Ernst was born in Cleveland, USA. After leaving school he worked as a bookkeeper. Then, in 1903, he and his brother Theodore started Ernst & Ernst, a small public accounting firm.
Both Arthur Young and AC Ernst were innovators and appreciated the importance of quality in their work. Ernst pioneered the idea that accounting information could be used to make business decisions and make a difference to clients’ organizations. He inspired his people to deliver better service to clients. Young also positioned himself as a business advisor as much as an accountant.
Both men understood the importance of their people. In 1920, Ernst & Ernst’s operating philosophy stated: “The 0 of professionals. In the 1920s he originated a staff school and, in the 1930s, the firm was the first to recruit from university campuses.
Both firms were also quick to enter the global marketplace. As early as 1924, they allied with prominent British firms: Young with Broads Paterson & Co and Ernst with Whinney Smith & Whinney. These alliances were the first of many for both firms, which opened offices around the world to service their international clients.
AC Ernst and Arthur Young never met in life, but died within days of each other in 1948. However their philosophies lived on and, in 1989, were brought together when the firms they started combined to create EY. The new organization quickly positioned itself on the leading edge of rapid globalization, new business technologies and continuous business change.
AC Ernst and Arthur Young would surely be proud of the result — a global organization of 167,000 people sharing their ideals and passion to help clients improve their businesses around the globe.
30 June 2013 retrieved fromhttp://www.ey.com/MY/en/About-us/Our-people-and-culture/Our-history 1849 | Harding & Pullein founded in England. Joined by Frederick Whinney | 1859 | Whinney made a partner | 1894 | Arthur Young starts his first firm, Stuart and Young, in Chicago
Harding & Pullein renamed Whinney, Smith & Whinney | 1864 | Thomas Clarkson starts a trustee and receivership firm in Toronto | 1903 | Alwin and Theodore Ernst form Ernst & Ernst in Cleveland, US | 1906 | Arthur and brother Stanley form Arthur Young & Company in Chicago | 1924 | Arthur Young allies with Broad Paterson & Co, England
Ernst & Ernst allies with Whinney, Smith & Whinney | 1939 | Clarkson allies with Woods Gordon & Co to expand into management consulting | 1944 | Clarkson Gordon & Company allies with Arthur Young & Co | 1979 | Ernst & Whinney forms and becomes the fourth largest accountancy firm in the world
Arthur Young’s European offices join several large local European firms | | Arthur Young merges with Ernst & Whinney to create EY | 2000 | EY unveils a new, integrated global organization |

30 June 2013 retrieved from http://www.ey.com/MY/en/About-us/Our-people-and-culture/Our-history/About-EY---Key-Facts-and-Figures---History---Timeline

Services
Assurance
Around the world, the journey to success is governed by increasingly complex and broadening regulatory requirements and stakeholder demands. Strong independent assurance provides critical information for investors and other stakeholders, a robust and clear perspective to audit committees and timely and constructive input to management.
2) Tax
A successful tax function delivers a strong reporting foundation and sustainable planning to help the business achieve its growth potential. You need tax strategies aligned with your business drivers, built on effective compliance and open, transparent reporting. So we create highly networked teams who can advise on planning, compliance and reporting and maintaining good relationships with the tax authorities. 3) advisory
Today’s achievement is tomorrow’s expectation. So whether your focus is on transforming your business or on sustaining performance and building on your achievements, we can help you improve the performance and effectiveness of your business by examining everything from core management and business processes to future directions and opportunities for growth.
4) Transactions
How organizations manage their capital today will define their competitive position tomorrow. We offer integrated, objective advisory services that are designed to help you make better decisions about how you strategically manage capital and transactions.

30 June 2013 retrieved from http://www.ey.com/MY/en/Services
KPMG
About KPMG
We turn knowledge into value for the benefit of our clients, our people and the capital markets.

KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We operate in 146 countries and have 140,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

Through our worldwide network we are able to offer our clients the benefits of a wide pool of skills and experience, while also utilizing an in-depth understanding of each national market. As a professional services firm, we provide comprehensive, tailored and industry-specific services to meet clients' needs, whether they are multinational or local.

KPMG was one of the first professional services firms to align its services along industry lines and still focuses on delivering high-quality, coordinated services to organizations in the key lines of business: Financial Services; Industrial and Consumer Markets; Information, Communications & Entertainment; Infrastructure, Government & Healthcare.
Services
KPMG's Location and Expansion Advisory Services

KPMG's Location and Expansion Advisory Services are designed to help companies with the decision-making process for international relocations or expansion of their operations. We assist companies in identifying the optimal location for their operations to secure savings and operational efficiencies. Our international team enables our clients to save time when entering new geographical regions, new markets, and establishing new business sites.

Our services include:

Comparative socio-economic analyses of business environments in one or more countries;
Assistance in defining location criteria and determining their relative importance;
Analyses of available investment incentives;
In-depth analysis of local labor markets, business costs and taxation;
Evaluation of sites and facilities for location of the business;
Analysis of key market players, suppliers and competition to assist in adjusting or confirming the relocation or expansion strategy;
Country prioritization or opportunity assessment… and more.

30 June 2013 retrieved fromhttps://www.kpmgglobalfrontiers.com/about-kpmg (about and service )
Price waterhouse coopers
PwC is the world’s largest accounting and consulting firm. We employ more than 169,000 people across 158 countries around the world. Globally, we audit 84% in the Fortune 500 group and have a bigger revenue base compared to any other competitor. In Malaysia, PwC works with some of the largest companies on Bursa Malaysia, global companies as well as Government clients. They work with us because we take the time to listen, question and understand their goals, as well as their competitive and regulatory environment. Whether vbvvits building relationships with our clients and people, bringing new and innovative services, we strive to do our best. We’ve been honoured with a range of awards and accolades, including: Malaysia’s graduate employer of the year (2012, 2011, 2009)
# 1 in the Accounting and Professional Services Sector (2012, 2010 to 2008)
# 1 in the Consulting Sector (2011)

1 july 2013 retrieved from http://job-search.jobstreet.com/CompanyProfile/company-profile.php?dm=http%3a%2f%2fsiva-my.jobstreet.com&p=%2f_ads%2f_static%2fxml%2fMY%2f&token=e3c39cdd6409036d503d5565f6daff72969bbc407439093951772e8c23ed7123f2fcc773eb0d233d&rnd=21836377#.UdGelTs3CB0
PwC’s history in Malaysia dates back to the early 1900s. We believe we have a responsibility to play an integral role in the growth and progress of our nation. Over the years, we have worked with many different types of clients - global companies, public sector entities, growing businesses and up-and-coming entrepreneurs. Through our assurance, tax and advisory services, we help our clients succeed through both buoyant and challenging economic environments.
Our aim is to deliver value to you at all times. How we use our knowledge and experience to deliver that value, depends on what you want to achieve. We'll start by asking questions to get to know you and your business better.
You can expect, when working with anyone of our 2,030 strong team in Kuala Lumpur, Pulau Pinang, Ipoh, Melaka, Johor Bahru and Labuan, that we'll help you recognise what your business needs are. Then we'll work with you to identify the goals critical to your corporate strategy.
Our services are delivered through separate legal entities focusing on different aspects of the service offerings we provide. These entities are listed below. Each entity within Malaysia is able to draw on the collective resources and experience of PwC, both locally and worldwide.
1 july 2013 retrieved from http://www.pwc.com/my/en/aboutus/index.jhtml
Assurance
We help organisations improve their external financial reporting and adapt to new regulatory requirements, such as the Financial Reporting Standards (FRS).
Advisory
Clients engage us to help solve their strategic and day-to-day challenges.
Tax
We work with clients to develop approaches and solutions to critical tax and business issues given our understanding of technical issues and compliance.
1 july 2013 retrieved fromhttp://www.pwc.com/my/en/services/index.jhtml

Some note for preparation
Service
advisory improve the performance and effectiveness of business by examining everything from core management and business processes to future directions and opportunities for growth.
4) Transactions offer integrated, objective advisory services that are designed to make better decisions about strategically manage capital and transactions.
Assurance
assurance provides critical information for investors and other stakeholders, a robust and clear perspective to audit committees and timely and constructive input to management.
Tax
tax function delivers a strong reporting foundation and sustainable planning to help the business achieve its growth potential.