Career as Accountant
Accounting is an organised way to keep records of business and financial transactions to analyse, verify and report financial results. It is a blend of many fields such as Commerce, Finance, Business Administration, Banking and Insurance. These fields merge together to help users of accounting information become reliable in making company financial data. It is the process of keeping financial accounts to estimate economic activities of an organization and forwards the related information to investors, creditors, management and regulators. It is a crucial part of managing payroll in auditing and financial management. The study of financial data can be done by various software tools, which gives you a better insight in assessing the amount, uncertainty of cash flows based on IFRS standards. Accountants are in demand in each and every sector whether it is educational, industrial, small and big scale industries. His role matters a lot in each and every financial matter.
- About Accountant :
- Job Profile |
- How do I get there?
Job Profile
Accounting is an emerging field of commerce and career prospects
in this field keeps on increasing according to the market
requirements. An Accountant's main job is to keep a track of
financial accounts and economic activities of an organization. He
plays a key role in auditing and preparing annual reports, assets
by collecting related information from Investors by using various
tools to analyze the required data. He reconciles discrepancies,
verifies, allocates to produce error-free accounting reports to
higher officials. His job schedule is very hectic. He will always
have a tough time and deadline during peak months from January to
April. He works solely or with his team according to the work
requirements.
The degree holders in Accountancy can work in sectors such as
Management, Public Accounting, Audit, Tax, Financial and Budget
analysis. The requirement of Chartered Accountant and Accountant is
a major requirement of many sectors, as it is the highest paid job
and which keeps on increasing with your experience. One can teach
in Private and government college, work in any audit or financial
firm as well in auditor general or any accounts based office. Many
CA firms and Financial Institutions hire candidates for internship
roles.
Different job roles in Accounting fields are financial
controller, financial analyst, Financial Manager, Financial
Advisor, Chief Financial Officer, Certified Public Accountant,
Company Secretary and Chartered Management Consultant, Bookkeeper,
auditing clerk, forensic accounting etc. There is a lot of scope of
job opportunities abroad with good packages as an accountant and CA
are on-demand in many industrial sectors.
Roles and Salaries Offered:
|
Accounting Jobs |
Average Salary per annum (in Lakh) |
|
Chartered Accountant (Govt sector) Accounting manager Financial Manager Chief Financial Officer Company Secretary Financial auditor Budget analyst Chartered Management consultant Financial controller |
3-5 Lakh 6 Lakh 6 Lakh 8 Lakh 5 Lakh 9 Lakh 6 Lakh 7 Lakh 6 Lakh |
Top Recruiters
- Wipro
- Bharat Electronics Ltd
- Vedanta Ltd
- Ujjivan Financial Services Ltd.
- ITC Limited
- Tata Motors
- HPCL
- Income Tax Office
- Auditor General Office
Courses in Accounting
There are several undergraduate and postgraduate courses in
India. Various colleges and institutions offer bachelor, master
courses in Accounting. Some of them are:
Bachelor Degree Courses:
- Bachelor in Commerce (B.Com.) in Accounting
- Bachelor of Commerce in Taxation
- Bachelor of Business (BBA) in Accounting
- Bachelor of Commerce in Finance
- Bachelor of Commerce in Banking and Insurance
- Bachelor of Commerce –Chartered Accountancy
Master Degree Courses:
- Master of Commerce (M.Com.) in Accounting and Finance
- MBA in Finance and Accounting
- Master of Commerce in Accounting and Auditing
- M.Com in Accountancy and Taxation
Doctoral Degree Courses:
- Master of Philosophy-Accounting
- PhD in Accounting
Eligibility Criteria for these Courses
The eligibility criteria for the admission in Accounting depend
on the level of degree achieved. Here is the list of eligibility
criteria for candidates pursuing admission in accounting are:
- For admission in undergraduate courses, 10+2 in Mathematics is a compulsory requirement with a minimum 50% in aggregate and basic knowledge of Maths, Accounts and Economics.
The admission process for B.com is through an entrance
test CAT- Common Admission Test that is conducted by respective
Universities or any equivalent entrance test according to the
respective States.
- For admission in a Postgraduate course into Accounting, the candidate must have a bachelor degree in Accounting, Economics, Finance and Accounts, Taxation etc. The top entrance test conducted for admission into the Accounting Programme is ICWAI, ICSI and ICAI conducted by the respective University Board.
- To gain admission in a diploma/technical programme one needs to qualify 10+2 exams with 55% aggregate from the respective university of their state.
- The top entrance test in India required for admission in Accounting are:
- ICWAI- The Institute of Costs and Works Accountants
- ICSI-Institute of Company secretary Exams
- ICAI- Institute of Chartered Accountant of India exam
- CPGET-Common PG entrance Test.
- CFA-Chartered Financial Analyst Exam
- UGC-NET/JRF- Junior Research Fellowship Exam for Accountancy
Future Growth Prospects and How to get there faster
Pros and Cons of Accounting
Pros:
- It is a stable and flourishing career of all occupations.
- Start as an entry-level associate to gain experience through on job performance.
- A flexible job which can help you to choose an industry of your choice.
- Advance your career by starting your own firm.
Cons:
- Enhance your skills with new technology.
- Work environment sometimes may feel lethargic.
- Heavy workload and deadline from January to April.
- Sometimes pressure leads to negative levels of stress that can affect your personality.
How do I get there?
The average cost of a B.com course in accountancy is around Rs
1.5 to 3 Lakh in general. In general, the fees can range from Rs
30,000 to 40,000 per semester. The Diploma courses and certificate
programs are offered to candidates for 1-2 Years with fees of
around Rs 12,000 to 40,000. For M.com in Accountancy, the fees can
be around Rs 30,000/pa for the two-year-long course. There are
multiple PG diploma courses that are available at lower costs from
various institutes.
|
Rank |
College/Institute Name |
Course |
|
1 |
Amity College of Commerce & finance-Noida-UP
|
B.com, M.com
|
|
2 |
Annamalai University-Tamilnadu Andhra University, College of arts |
B.com, M.com
|
|
3 |
Visakhapatnam IGNOU-Delhi
|
B.com, M.com
|
|
4 |
ISME-Bengaluru
|
B.com, M.com
|
|
5 |
Banaras Hindu University- Varanasi
|
B.com, M.com
|
|
6 |
Integral University-Lucknow |
B.com, M.com
|
|
7 |
Banaras Hindu University- Varanasi
|
B.com, M.com
|
|
8 |
Amrita School of Arts & Science-Kochi-Kerala |
B.com, M.com
|
|
9 |
The Heritage college-Kolkata
|
B.com, M.com
|
Course Duration and Fees:
|
S.No. |
Course |
Duration |
Total Fees (in Rs) |
|
1 |
B.Com in Accounting & Finance
|
3 Years
|
1 to 2 Lakh
|
|
2 |
B.Com Honors in Accounting
|
3 Years
|
1.5 to 2 Lakh
|
|
3 |
B.com in Corporate Accounting
|
3 Years
|
2-3 Lakh
|
|
4 |
B.com in Professional Accounting
|
3 Years
|
1.23 to 1.35 Lakh
|
|
5 |
M.Com in marketing & Finance
|
2 Years
|
3,500 to 10,000
|
|
6 |
M.Com in Accountancy & Business Statistics
|
2 Years
|
30,000 to 50,000
|
|
7 |
M.Com in Taxation & Accounting
|
2 Years
|
50,000 to 70,000
|
Books and other Study Material:
- Principles and Practise of Accounting by PC Bhushan
- Accounting All in One by Viajy K.Sampath
- Accounting made simple by Mike Piper
What if this career does not work out for me? What are the other options for a person with these credentials?
One can take up Internal Auditor in an MNC firm or can even become a tax consultant. You can also work as an Accountant in any Educational Institution/college or Universities. The best option is to start your own firm and work at your own pace. The other fields in which you can pursue with the same credentials are as Bank Examiner, Investment Analyst and Government agent for NBI Organization.
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Content on this page is by Career Expert Mrs. Kum Kum Tandon MA (Psychology), M.Ed, Diploma in Educational Psychology, Vocational Guidance & Counseling (NCERT, Delhi) | View Complete Profile |