Lowyat.NET: Latest topics by eclipsed

Auditing vs Management Consulting

eclipsed — Sat, 04 Jan 2014 10:14:38 +0800

I've been giving my future career path some thoughts and would like some opinions from experienced forummers. My interest in auditing/ management consulting generally revolves around working on a project basis, in a closely-knit team among younger peers of a similar age. I don't mind the long working hours as I know there will be periods of downtime.

My concerns relate to where each career will eventually lead me, for example, starting auditing at a Big 4 firm or starting management consulting at Accenture. Are the exit opportunities for auditors usually limited to internal audit, compliance, financial accounting? I feel that these are more routine/ operational jobs, not being tied to my interests. Meanwhile, are the exit opportunities for a management consultant usually being an internal consultant, PE firms, asset management research or even joining MBB?

For management consultants out there, for a good progression in Malaysia, say at Accenture:
1) Is an MBA usually required to progress to manager/ senior manager, at least in Malaysia/ Singapore?
2) As a performance oriented company, how is the usual rate of progression?
3) What are the usual exit opportunities that come by?
4) Any further thoughts on auditing vs management consulting?

Thanks!

Switching from classical to acoustic

eclipsed — Thu, 02 Jun 2011 18:48:21 +0800

I have been playing on an Admira Maria for 2 years now but have decided to get an acoustic guitar as my interest in songs have kind of changed over the years. Lets say I have a budget of around RM350+ to buy an acoustic guitar, whats the best buy at the moment? I have seen some posts recommending the Yamaha f310 but I am wondering about the Yamaha f210 as well. Any significant difference between the 2? Also where can I find the f210, I have not seen them around. How much is the going price now?

On another note, is it worth buying another guitar just to play acoustic songs? I feel that the Admira Maria is decent (correct me if i'm wrong), would buying a budget acoustic guitar be worth it or should I just continue playing on my old guitar?

Recognition of Monash Sunway

eclipsed — Sat, 02 Apr 2011 16:21:45 +0800

I am currently pursuing Business and Commerce (Accounting and Finance) in Monash Sunway Campus.

After reading about Singapore treating Monash Sunway's MBBS separately from Monash Australia's I start questioning how it might affect my future job applications. I understand that the reputation of Monash Sunway is strong and well respected within Malaysia and would have no problems securing jobs locally (big 4, banks and insurance companies).

However, how will it be viewed to companies in countries like Singapore, US and Aus? The degree material is the same and assuming that good grades are obtained, I feel that there is no reason to discriminate between different campuses of the same university. When I enrolled into Monash, I did so with the expectation of receiving a foreign degree from a prestigious university which is internationally recognized, thus allowing the opportunity to work in large corporations overseas, at the expense of the high fees.

On a separate note, how will a degree from Monash Sunway compare to that of LSE, UCL, NUS? Any employer preference whether in Malaysia or overseas?

Thanks for reading, all opinions are welcome!

Is a degree done locally more relevant?

eclipsed — Fri, 18 Feb 2011 21:15:39 +0800

I am aware that there is a thread comparing the difference between overseas and local education. But what I have to raise here is more specific. Please shed some light on the issue.

Lets say a person did his A-levels and had the choice to go to Australia for tertiary education, namely to Sydney, Monash, Queensland, Melbourne. However, looking at rankings and environmental factors, they appear the same with no significant difference to an education in Malaysia's foreign campuses such as Monash and Nottingham. This is, of course, placing Monash and Nottingham above the other private universities in Malaysia.

So the deciding factor comes down to the syllabus. And upon further inspection, Monash Malaysia in fact adds some Malaysian laws and tax laws in their teaching. Sure the exact Australian syllabus is followed but this is an addition (correct me if I am wrong). So in that sense wouldn't this make studying in the mentioned universities locally be more relevant if I am looking for a career back in Malaysia anyway? Surely it is a benefit opposed to someone doing the same course in Australia?

Please note that I am assuming that the foreign influence and exposure does not play a major role in the education, not that it does not exist but that in private foreign universities, one will also gain such exposure and it is only limited to how much you want to mix with the non-locals anyway. (How many people went to UK and Aus mixing with Malaysians only...)

Really, what is Accounting?

eclipsed — Sun, 13 Feb 2011 20:40:36 +0800

Firstly, I am sure many stereotype Accountants as 'boring', 'serious' as well as being 'bean-counters' etc. I do not agree with this, I do not find it rational for such a profession be associated with such descriptions. Others talk of the course being much easier than, say, engineering or IT but again i dispute this. They are different courses and challenging in its own way.

I think that these impressions are imprinted upon the minds of the non-Accountants jointly because of ignorance and not knowing what accountants really do. I am surprised that some people relate accounting with more simple tasks such as data entry, creating balance sheets or managing T accounts. Shouldn't these tasks be more related to the profession of bookkeeping?

Being a student about to venture into the Accounting world, I intend to seek confirmation that Accounting is indeed deeper that what people think. From what I understand, Accountants are capable of doing tasks such as auditing, analytical work, consulting, financial analysis and forensic accounting. All being much more complex and captivating than those in the previous paragraph. Surely it is as interesting as the next profession with plenty of opportunity to climb up the corporate ladder to success while making a decent middle-class income at least. And so I ask those in the field, are my views on this correct?

(Non-accountants please comment as well, it will be great to have both opinions. Thanks!)

Scholarships for Overseas/Private Universities

eclipsed — Mon, 07 Feb 2011 10:42:38 +0800

I have recently completed my A-levels with excellent results. I am planning to take a degree in either economics or finance. However, now I face the dilemma of finding a university to go to. My choice is greatly limited by my finances and the lack of SPM (I took Singapore O-levels). This means that it is most unlikely that I stand a chance to be accepted to local universities.

So, to all reading this, can you offer suggestions as to which Overseas/Private Universities which I may apply to to secure a significant fee waiver or any external organizations which offer full scholarships? I have tried Shell Malaysia Scholarships already and have recently sent an application to NUS hoping to get the ASEAN scholarship...

Thanks.

Fresh grad auditor in Big 4

eclipsed — Sun, 16 Jan 2011 21:12:21 +0800

I am currently pursuing a degree in accounting in a private university. I intend to start my career by entering one of the big 4 firms as an auditor. Which is why i have several questions about the path I am about to undertake and hope anyone who is familiar in this field can help clear some doubts:

1) What are the normal entry requirements for a Big 4 company in terms of CGPA, is there a cutoff where they will not consider any applicants below this score? Are many people recruited?

2) How is the starting salary like these days? I heard the figure is around RM 2600-3000 some months ago, and that EY provides financial support and study leave if i continue studies for ACCA. Can anyone verify this?

3) Are there opportunities for future development? I know the first years will be stressful but those who stay move quickly up the ladder to a manager in about 6-8 years, is auditing the best path to reach this level? Most people leave before they reach this position...right?

Thanks

Universities on my mind...

eclipsed — Mon, 10 Jan 2011 10:30:38 +0800

I am planning to start my course of Bachelor of Business and Commerce (major in Accounting and Economics) in Monash next month, but before accepting the offer, i have several questions to ask from anyone with experience:

1) How does Monash's BCom degree compare to the other local and private institutions in Malaysia?
I have seen some posts where Sunway is seen to be the best for accounting with Monash not getting a mention. Shouldn't Monash be better in terms of syllabus, prestige and future for the students?

2) Many people state/presume that an accounting/economics degree is inferior to science degrees or engineering and only undertaken by 'weaker' students. I strongly oppose this since being among the best science stream students, I know there are opportunities in all careers and that accountants also have great job prospects. It also has the capability to make a decent salary. Please share your opinions on this.

3) Would a Monash Malaysia degree be essentially the same as a degree from a top 50/ top 20 university overseas? I think the syllabus should be the same, Monash being a Top 50 uni itself until last year and still in top 100 now by some rankings. Is the only advantage of spending 400-600k overseas little more than hoping to gain independence and experiencing a different environment? Surely a high CGPA and types of modules undertaken be more valuable to employers? (except those shortsighted to believe all overseas degrees are better or private being better than local)

Hope you guys can share some insight, thanks for your contributions!

Accountant fresh grads

eclipsed — Fri, 29 Oct 2010 20:01:08 +0800

So, how much is the starting salary for accountants these days?

I am choosing between a degree in a local university or a double major in Monash Malaysia in Accounting and Economics, will studying in Monash be an advantage to find new jobs or in the salary?

Please help, really confused about future...

Xbox 360 wired controller

eclipsed — Fri, 08 Oct 2010 18:54:43 +0800

Hey, wondering if anyone here managed to buy xbox wired controller for good price.
I'm living in PJ area, can share which shop sells pls?
Thanks