|
Include Left Members Area Forms
|
Record of Practical Experience
About
NOTES
TO STUDENTS ON THE COMPLETION OF RECORD OF PRACTICAL
EXPERIENCE
So you want to be an Accountant?
Then, your aim is to obtain membership of the Malaysian
Institute of Accountants (MIA), with entitlement to use
the designation "Chartered Accountant" with the
designatory letters "C.A.(M)".
At the time you apply for the MIA membership, the
Institute requires you to provide information on your 3
years practical working experience. The MIA has
introduced the Record of Practical Experience,
formulated for accounting graduates listed in Part I of
the First Schedule to the Accountants Act, 1967, which
is to be submitted together with the MIA membership
application form.
As such, the Record of Practical Experience enables you
to put together a complete summary of your knowledge and
skills acquired during the course of your employment and
to have these verified as you acquire the experience,
rather than retrospectively when you may even have
changed employment. In addition, the record will also
assist the employer to keep track of your progress in
terms of practical skills and the professional
competence of your work. Information contained in your
Record of Practical Experience will be assessed by the
Membership Affairs Committee when considering your
application for admission as a member of the Institute.
You are required to complete the Record of Practical
Experience which consist of three sections; (i)
Employment History; (ii) Detailed Record of Practical
Experience; and (iii) Comments from Supervisor. You have
been provided with a blank master for all of these
sections which may be photocopied as required for use
over the period covered by the record. You may also
download the forms from the MIA website. As an
alternative, you may set up the form on your own,
adopting a similar format. If you choose to complete the
form in writing, it must be neat and clearly written.
You are advised to update your record of your practical
experience regularly. This must also be verified by your
employer.
Please refer to the Guidelines For Completion of Record
of Practical Experience on the details to complete each
section.
If you need further clarifications, please contact the
Membership- Registration & Supervision Department at:
Malaysian
Institute of Accountants
Dewan Akauntan
2, Jalan Tun Sambanthan 3
Brickfields, 50470 Kuala Lumpur
Tel :
+6 03 2279 9200
Fax : +6 03-2274 1783
E-mail:
membership@mia.org.my
Or visit the Institute website (www.mia.org.my)
Guidelines
RECORD
OF PRACTICAL EXPERIENCE FOR GRADUATES LISTED IN PART I
OF THE FIRST SCHEDULE TO THE ACCOUNTANTS ACT 1967
|
A. |
Introduction |
|
|
A record on the experience gained is essential as it
would enable the Institute to measure whether an
individual had gained relevant experience to be eligible
to apply for membership with the Institute.
The Institute has prepared this format specially for
accounting graduates listed in Part I of the First
Schedule to the Accountants Act, 1967 who would be
applying for membership with the Institute upon
obtaining 3 years of practical working experience. The
graduates are required to complete a Record of Practical
Experience following the format, which is to be
submitted to the Institute when applying for membership.
The Institute reserves the right to contact the
employers/past employers of applicants to verify the
information stated in the Record of Practical
Experience. |
|
B. |
Guidelines For Completion of Record of Practical
Experience |
|
|
Section 1: Employment History
The following information must be provided for each
position held in each employing organisation, where you
are claiming relevant practical experience :
-
Dates from/to (by date/month/year) stating the
number of months spent in each organisation
-
Name of Employer
-
Nature of business of employer - please provide
brief description of organisation's business (for
e.g. audit, taxation, manufacturing, financial
institution, etc.)
-
Job position/title
-
Name and position held by the supervisor/immediate
employer
Please note that working experience of less than six (6)
months at any organisation will not be considered
Section 2: Detailed Records of Practical Experience
The following information must be provided for each
position held in each employing organisation, where you
are claiming relevant practical experience :
-
Dates from/to (by date/month/year) in each
organisation
-
Name of Employer
-
Description of your duties and responsibilities,
details of the work you have carried out and degree
of involvement
Section 3: Comments From Supervisor
This section shall be completed by the Supervisor. |
|
C. |
Important Points To Note In Completing Your Record of
Practical Experience |
|
|
|
(a) |
Working Experience |
|
|
The following are to be emphasised on the working
experience gained from each organisation:
-
Key aspects of the work you have undertaken during
the period
-
Any extraordinary tasks and responsibilities
undertaken
-
The experience that you have gained
|
|
(b) |
Supervisor |
|
|
Your supervisor should be a manager or partner who,
wherever possible, is :
-
A qualified Chartered Accountant registered with MIA
-
A member of one of the professional bodies
recognised by MIA or an accounting graduate from one
of the local universities recognised by MIA
-
A qualified accountant in public practice overseas
who is a member of a professional body recognised by
MIA
-
A qualified accountant in public practice overseas
who is a member of any other professional bodies as
may be recognised by Council from time to time.
|
|
(c) |
Areas
of Work |
|
|
The Institute in acknowledging the essential financial
and technical skills required to be a competent
Chartered Accountant, has identified the following areas
of work that you are required to be involved :
|
- Audit |
|
|
-
Planning, controlling and recording of audit work
-
Experience in the methods used to record a client's
system of internal control
-
The design of audit procedures to provide audit
evidence that weaknesses encountered have not led to
material errors
-
Obtain background data for the purpose of audit
planning
-
Review of audit evidence prepared by support staff
on audit engagements
|
|
- Taxation |
|
|
-
Establishing the organisation's liability for
corporation tax and other obligations to revenue
authorities
-
Advise clients/management on their organisation's
tax obligations, implications and alternatives
-
Establishing, planning and applying the impact of
other taxes and charges such as sales taxes,
regional taxes and employee taxes and State
insurance's collected by the employer
|
|
- Business Planning |
|
|
|
|
- Management Accounting |
|
|
-
Participation in organisational direction setting
through involvement in strategic planning, business
planning and decision support systems
-
Fostering organisational commitment through
leadership
-
Identifying and managing risk exposure associated
with organisational strategies
-
Ensuring effective organisational resource use
through involvement in change targets and goals, and
re-engineering and continuos improvement
initiatives.
|
|
- Financial Reporting |
|
|
-
Maintenance of accounting records
-
Maintenance of the ledger including control accounts
and their reconciliation
-
Preparation and extension of the trial balance from
the underlying ledger accounts
-
Construction of financial statements
-
Application of appropriate accounting and auditing
standards
-
The preparation and presentation of financial
statements in accordance with generally accepted
accounting practice and current professional and
statutory requirements
|
|
- Information Technology |
|
|
-
Information technology concepts for business systems
-
Internal control in computer-based business systems
-
Management of IT adoption, implementation, and use
|
|
- Finance |
|
|
-
Assisting in the formulation of advice/development
of policies on the financial implications of
potential decisions or situations
-
Establishing financial strategies
-
Managing financial risk
-
Managing financial operations
|
|
|
Downloads
|
Description |
:
Record of
Practical Experience |
|
Format |
: MS Word |
|
Size |
: 42KB |
|
Right click
HERE
and select 'Save Target As' to download the document. |
|
