Dear Student, Please spend 9 minutes to listen to this video which could give you a better future. I am Kevin Chong, a retired Fellow member of the Institute of Chartered Acccountants in England and Wales. I qualified in 1976 (in London) and I set up Jasa Accountancy Centre in 1977. Over the last 36 years Jasa has conducted UK accountancy courses such as ACCA, AIA, IFA, LCCI and now IAAP which stands for International Association of Accounting Professionals. Jasa is authorized by IAAP to conduct internal examinations for all the IAAP subjects but the Associate and Fellow memberships are awarded by IAAP (UK). I have also compiled some very practical and concise manuals which makes learning a lot easier. After IAAP, you can continue to study for the Executive Bachelor in Financial Accounting which is a joint programme with the Asia e University. You only have to take 6 more papers for the award of this Bachelor qualification. The total cost from IAAP to this degree is only RM16,000 and you can withdraw RM10,000 from your EPF account for this degree programme. If you have the IAAP Fellow membership (FIAAP) and the Executive Bachelor qualifications, it is not difficult for you to get a job as company accountant for the many small-medium enterprises (SMEs) in Malaysia and Singapore. In Malaysia the average salary of an SME accountant is between RM4,000 and RM7,000. You could recover back your investment cost of RM16,000 within 3 months and you will earn another 3 million Ringgits more over the next 30 years. If you have no qualification, you may only earn about 1 million Ringgits more over the next 30 years. If you are thinking of doing ACCA, I would like to advise you to take IAAP first because over the last 50 years, the success rate for ACCA was less than 10%. ACCA is difficult to pass because they seldom repeat past year questions and they seldom ask you questions from their official textbooks of some 500 pages for each subject. After you have passed IAAP (with over 70% pass rates), then only you should consider whether you want to take ACCA because even if you can never qualify as ACCA, you still have the IAAP qualification and you can still apply for job as company accountant for the many SMEs. If you cannot attend our classes, you can take our video distance learning course. In fact, LCCI is also very difficult to pass because they seldom repeat past year questions now. Finally, I would like to give you a brief lesson on what is the meaning of debit and credit for you to see how practical and effective is our teaching method. Many people only know debit is “in” and credit is “out” or debit is “increase” and credit is “decrease”. These 2 explanations are not correct. Please do not use them anymore after you have learnt the proper explanations from me. (1) A business usually has the followings: (a) Assets (Assets usually have money value) E.g. motor cars, furniture, stock, debtors, bank balance, cash balance. (b) Liabilities (Means business owes money) E.g. loan, creditors, capital put in by the owner. (c) Incomes (Incomes will bring in money) E.g. sales, rent received, discount received. (d) Expenses (Business needs to spend money to run the business) E.g. wages, rental, motor expenses, electricity, telephone, postage and stationeries, discount allowed. (2) Debit and credit are Italian words which mean “left hand side” and “right hand side” because the first person who invented this accounting system was an Italian over 400 years ago. Debit and credit are opposite to each other and will minus from each other in the same account. (3) What is the meaning of debit and credit depends on what accounts you are talking about. (a) Assets and Expenses accounts, you must debit (AED). But credit entry is (-). E.g. Credit Bank A/c means you minus the money in the Bank A/c (which is an Asset A/c). (b) Liabilities and Incomes accounts, you must credit (ILC). So debit entry is (-). E.g. Debit Loan A/c means you minus the loan (which is a Liability A/c). The full explanations and examples are contained in our Full-Set A/c Lesson 1 which is only 2% of the total syllabus. You can learn a lot more practical and useful accounting knowledge from this subject which also includes free English grammar lessons to improve your English so that you can avoid grammar mistakes in writing letters or reports. This will help you to get a better job. Thank you.
Posted on: Thu, 10 Oct 2013 13:01:48 +0000
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