MIA QE How to Score a Distinction in the MIA Qualifying Examination Hear it from those who’ve done it! T he Malaysian Institute of Accountants (MIA’s) Qualifying Examination (QE) is an alternative route for graduates with relevant qualifications (which are not recognised under the list of MIA’s Scheduled Bodies) to become members of the Institute. To encourage the taking of QE, MIA would like to feature inter views with five candidates who scored distinctions in their QE papers. We hope to motivate other candidates to take up QE as a challenge to pass with flying colours. Lee Pa Wei , graduate in Bachelor of Commerce (Accounting) from Universiti T unku Abdul Rahman successfully passed three Lee Pa Wei papers in his first attempt in 2005. He scored A in one of the three papers and completed the last paper, auditing in September 2007. “Taking the MIA QE was an initiative I decided to embark upon to enhance my career after I graduated from university. Sitting for the MIA QE was a great challenge: it’s tougher and the syllabus is wider. Unlike examinations conducted by other professional bodies, MIA only allows you to complete the examination within four years. Hardwork and concentration are the keys in beating this challenge.” Lee encourages other candidates to keep on reading and practising to boost their knowledge. This would help them succeed in this examination. He added: “The MIA QE certificate completes your life and brings your career to a higher level.” Tips: “I scored distinction for the Taxation paper in MIA QE. I put in a lot of interest in the subject since diploma; I believe the interest and effort brought me to the distinction level.” 42 Liew Waily, graduate of B.Sc. in Business Administration (Accounting & Management) of Walla Walla College, US, has scored distinctions in the Taxation (TAX) and AdLiew Waily vanced Financial Accounting & Reporting (AFAR) papers. “It took me four sittings to complete the MIA QE. A lot of discipline and determination is needed to complete the examination as I couldn’t afford to attend night classes. I had to go through self-study except for the AFAR paper for which I had to seek external help after failure in my first attempt. The challenge is I had to juggle between family, work and study. So time management is very important.” “For papers that require a lot of calculations like TAX & AFAR, practising is of the essence as it is the only means to measure our level of understanding of the topic and give us enough time to revise areas of weakness. Therefore, doing a lot of past years’ papers from the MIA and other Professional Accounting Bodies is crucial. For Auditing and Law papers, doing notes with key points and mind mapping would help for revision.” Liew admits that she actually doesn’t have any tips in scoring distinctions as she doesn’t know what is the scoring scheme. “I hadn’t planned in my study to obtain an “A”. My only motivation is passing at first attempt. I was obviously not prepared in my first Accounting paper! I didn’t know the Consolidation enough! The thought of having to re-sit exams gave me the bumps, so in each attempt, I’d just try to give my best by getting myself really prepared for the examination.” Tips : “I believe making a realistic detailed plan to ensure all topics are covered and sticking to the plan is important.” Teo Chiu Sia, graduate of B.A.Hons. in Ac- counting from the University of Her tfordshire, UK, scored distinctions for Taxation and Auditing & Assurance Services. She was not expecting to comTeo Chiu Sia plete this examination within the time frame with so many constraints. “I was working on a full-time basis and did not really have much spare time left. Therefore, in order to complete the papers, I had to work very hard and smart. Due to my tight schedule, I missed several examination sessions.” Having a six-month old baby and moving to a new state were among some of the biggest challenges she had to deal with while completing the last paper, Advanced Financial Accounting & Reporting. “I thought of giving up but with the advice of friends and family members as well as staff of MIA, I sat for the exam. I am really thankful to them.” Teo says. Teo advices other candidates to not feel intimidated while in the examination hall as this will affect their performance. They will not be able to answer the questions even if they know the answers. Candidates should always feel confident. Tips : “If you want to succeed, never give up! Each minute is precious. Use it wisely. With constant reading and practising, you should be able to achieve it.” Cheng Miaw Chin, Cheng Miaw Chin holds a B. Accounting Hons. from the Multimedia University and has scored a distinction for the Advanced Financial Accounting & Reporting paper. “Time management plays an im- ACCOUNTANTS TODAY • May 2008 portant role while preparing and answering questions during the examination. Sufficient time should be allocated for revision. The short term goal should be to complete a topic before moving on to the other. Examination technique also plays an important role in efficient time management during examination.” In order to succeed in this examination, Cheng said that the candidate should have a solid understanding of fundamental and essential principles as well as their applications. ”If a tight working schedule is a major challenge, I encourage candidates to take up classes to get systematic guidance from the lecturer, overcome weaknesses and boost understanding.” “Candidates should be well prepared in various aspects of the subject. When tested with different types of questions, candidates should stay calm and analyse the question before attempting to answer it. Candidates should pay attention to the examiner’s requirement before answering. Managing emotion is also an important factor. Having a relaxed mind and the ability to be calm will go a long way to improve your thinking ability. Panic will result in distraction and always act as an impediment to doing well in exams.” Through the MIA QE, Cheng has learned and improved on her technical knowledge because as she prepared for the examination she gained more knowledge that enabled her to be more competent. She advises other candidates to be determined in doing well when facing the examination and to cultivate a positive attitude and confidence all along. Tips : “The successful completion of MIA QE is an uphill task, especially for working adults. However, it can be conquered with self discipline, continuous effort, strong commitment and the spirit of never giving up.” Victoria Chooi Foong Leng, holds a B. Business in Accounting & Finance from the University of Technology, Sydney, Australia. Victoria was really thankful when she finally managed to complete the last hurdle in her academic race — the final MIA-QE paper. “After weeks of burning the midnight oil, the relief one gets from completing the last paper is profoundly overwhelming. More Victoria Chooi so when you have to juggle work and studFoong Leng ies simultaneously. However, nothing is impossible. And I speak from personal experience when I say that a little hard work goes a long way. But sometimes we get too engrossed in the process that we lose sight of the ultimate goal and that goal is to get that prestigious qualification.” In sharing her secret recipe for success, Chooi says, “Well, it’s nothing short of a tablespoon of diligence, perseverance and proper guidance, a cup full of initiative and a barrel full of desire to succeed. So get out your utensils and start making that dish! And for those of you who have your hearts set on getting nothing less than distinctions, start your preparations early and don’t procrastinate. With just that, you’re halfway towards securing yourself a distinction already. Impossible, some might say. My take on it? Where there’s a will, there’s always a way. So I wish all the best to all you candidates out there. Dare to succeed!!” Tips : Where there’s a will, there’s always a way! AT May 2008 • ACCOUNTANTS TODAY AT 43