MSU Colombo Learning Centre


 

Diploma in Accountancy


Introduction
The Diploma in Accountancy (DIA) is an undergraduate academic programme that leverages on a unique learning opportunity in the combined disciplines of Law, Finance and management. Students pursuing the programme will be exposed both to the rich tradition and rigour of the accounting and audit, as well as to the state-of-the-art technologies used in the fields of economics, management, marketing, finance and insurance. As such, graduates of the programme are expected to be competent to handle not only the common accounting transactional matters but as well to assist the accountant in managing accounting reports.

The DIA is conducted over the period of 2 1/2-years on a semester basis (Five long and two short semesters). Given such academic exposure, graduates of the DIA, therefore, would be in advantage position to find career opportunities not only in the traditional accounting and audit practice and the government sector, but more importantly, in the private and corporate sector. As for the latter career opportunities, graduates are most encouraged to further acquire internationally recognized qualifications in the fields of accounting (ACCA; CIMA or corporate administration (ICSA)). They are encouraged to join our Bachelor in Accounting program in order to get the maximum exemption of 9 papers of ACCA after completing the study.

Core Subject Description

Financial Accounting I
This course will cover on the introduction of accounting information for report purposes, e.g. principle of accounting, accounting equation, double entry regulation, accounting cycle, accounting for fixed asset, accounting for current asset and accounting for ending period.

Financial Accounting II
This course exposes the students to the concept and application tools in a business organisation. The course covers six main topics, i.e. Capital and Revenue Expenditure, Control Accounts, Cash Management and Internal Control, Bank Reconciliation Statement, Correction of Errors and Incomplete Records.

Financial Accounting III
This course covers topics on financial accounting, recording in financial statement, report and financial statement as well as accounting for inventory and assets such as hire purchase and leasing. The relevant accounting techniques to account for branch, manufacturing, non-profit organization and partnerships are also included.

Financial Accounting IV
After being exposed to principle of accounting and understand the concept of accounting as a business language, students will be introduced to more complicated issues. Emphasis of this course is not only on data keeping but also on the theory and principle that has been used. Students also will be introduced to the process of preparing internal and external financial statements for companies as required by the pronounced accounting standards (Financial Reporting Standards - issued by MASB) and Company Act 1965.

Financial Accounting V
This course covers the topics and issues that is more complicated and its effects the reporting of the financial statements. Among the topics are about inventory, intangible assets, investment, leases, long term liabilities, miscellaneous accounts, changes of accounting policies and current liabilities and contingencies.

Introduction to Cost Accounting
This course exposes the students to cost terminologies, costing systems, budgets and latest development in cost and managerial accounting. Exposures will be given on how the management accounting information helps in decision-making process.

Basic Managerial Accounting

Taxation I
This course will cover topic such as the principles of tax, the calculation and management of tax in Malaysia. Stress is also given to the structure of income tax, types of taxable income, income exempted from tax, personal relief and personal tax.

Taxation II
This course will cover topics such as deductible expenses, capital allowances, basis period and tax for sole proprietor, partnership and company.

Accounting Information System
This course exposes the students to the usage of accounting package to generate financial report such as UBS, MYOB etc. Besides that, emphasis will be given on the usage of accounting information in decision-making and control of business activities.

Audit
This course exposes the students to basic principles and audit objectives. This course covers definition, the role of auditor, types of audit, audit planning, techniques of audit and audit of assets and liabilities.

Theory and Practice of Accounting
This subject covers foundation and theories of accounting. Relevant topics are early history of accounting, scope of accounting, investing and financing activities, assets, and evaluation of assets, standard setting, liability and equity.

Career Opportunities
Graduates will find ample opportunity in not only availing themselves to the traditional careers in accounting and audit practice, government services, administrative and diplomatic services, academia, and industry,commerce and finance,but as well careers as an internationally recognized professional in accounting and audit. Accounting graduates qualify for careers as accounts assistant, tax assistant, assistant financial controllers, bankers and financial planners. Accounting students are prepared to assume responsible, in assisting the managerial positions in accounting or finance. Organizationally, graduates will be absorbed into:

  • Government ministries and departments;
  • Local authorities;
  • Government enforcement agencies (income tax; immigration; custom; etc.)
  • Accounting firms;
  • Corporations and companies
  • Audit firms
  • Banks
  • Securities firms
  • Insurance companies
  • Multimedia telecommunication companies
  • Marketing agencies

Academic Requirement
Total Credit: 90
Compulsory/Core: 90
Electives: None

Course Duration Total Semester: 5 Full Semesters and 2 Short Semesters
Duration: 2 ½ years

Intakes
Major Intake: March, May, November

Career As Accountant
The programme prepares graduates eligible to enter the accounting profession as an account officer/assistant. To be so eligible as chartered accountant, graduates would have to have a bachelor degree in accounting and with working experience of three years and apply for becoming as a member of Malaysian Institute of Accountants (MIA) or sit for five (5) strategic levelsubjects in ACCA examination, conducted under the Association of Chartered Certified Accountants Malaysia, upon payment of a certain amount of registration and examination fees. Graduates may sit for the examination at any time after graduating, either by following a full time study or self-tuition. They are also can sit for exam while working with multi national company or other organisation which can sponsor their study.

At the present the BIA has not yet been recognized as a qualification that would make its graduates eligible to be a member of MIA. However, the Faculty is in the process of making all the necessary preparations to gain the recognition and the prognosis looks positive and encouraging.

Fee Structure
For information on fees, please contact the university

Duration Of Programmes
3 years (full-time / part time basis)

Annual Intakes
Refer to University

Admission Requirements
O - Level with five credits. Students who have qualifications other than the ones stated, are to submit them for the University's Senate consideration.

For a detailed breakdown of the entry requirement, please liaise with the Counselling & Communications department or email your queries to enquiry@msu.edu.lk

The above information is accurate at the time of printing. However MSU reserves the right to make changes where required without notice.

    a) Total tuition fees charged is based on credit hour taken for each semester

    b) Full payment of tuition fee must be made on the Registration Day Or Prior To The Commencement of the semester

    c) Fees are charged on per semester basis and are based on credit hours taken by the respective students. Please contact the Counselling & Communications department on fees and other payments details

    d) Tuition fees inclusive of taxes

    Registration fees must be paid on the registration day
    Registration fees paid are not refundable