Accounting Careers: Choosing accounts as a career is a smart decision. In present days there is a demand for candidates who are from accounts field. There are a plenty of job opportunities with a good handsome of salary for the people who are from accounts field. A one who has completed their bachelor’s degree from accounts field can go for a job or can continue their further studies.in many organizations there is a separate department for accounts which is increasing the employment opportunities for the right candidate. In this article we are giving a brief info about how to Become an Accountant and its career scope.
What does an Account Mean? and How to Become an Accountant?
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The word account is derived from French word “aconter” which means counting in Middle English. Account is defined as a record or statement of the financial expenditure and receipts related to a particular period or purpose.
List of accounting courses after graduation
- CA (Chartered Accountant)
- MBA( Master Of Business Administration)
- Com. Accountancy (Master Of Commerce In Accountancy)
- ACCA (association of chartered certified accountants)
- CMA (certified management accountant)
- CPA (certified public accountant)
CA course details
The acronym CA stands for charted accountant. CA is regulated by the institute of charted accountants of India under the charted accountant’s act of 1949 which was established by parliament. There are specializations in CA field like auditing, accountancy, taxation etc. The study of this field includes economics, mathematics and statistics, fundamentals of accounts.
The minimum qualification to enter into this CA course is passing 10+2 exam.
The duration of this CA course is minimum 3years.
- Quantitative aptitude
- Business communications and ethics
- Auditing and assurance
- Direct and indirect tax laws
- Financial reporting
The average salary package for CA candidates is 3-9lakhs in Indian currency.
MBA course details
MBA stands for master of business administration. It is a professional master’s degree under management stream. This course involves studying various aspects of a business set-up. The specializations of this course are human resources, marketing, statistics, finance, banking, insurance and operations.
The minimum criteria to pursue this course is completion of under graduate degree and qualifying different entrance exams like ICET, CAT and exams conducted separately by top business schools.
The time period to complete this master’s degree is only 2years.
- Quantitative methods
- Human resource management
- Principles and practices of banking
- Team management
- Merchant banking & financial services
The salary package for this master’s candidates is on average 2-6 lakhs.
M.Com (accountancy) is abbreviated as master of commerce in accountancy stream. It is a post-graduate accounts program. This course covers foreign currency operations, accounting operations, merger of public holding companies etc.
- Students who has completed bachelor’s degree with branches like B.Com., BBA, BBA and BBS from a recognized university or colleges.
- Top universities will conduct a entrance test and gives admission based on merit list.
This course is completed within a time of 2years.
- Economics of global trade and finance
- Direct and indirect tax
- Research methodology
- Strategic management
- Advanced auditing
The average salary for this course is 2-6lakhs per annum.
ACCA course details
ACCA stands for association of charted certified accountants. It is a leading international accountancy body. It is a certificate program.
The minimum qualification to enter into this certification program is 10+2 or a bachelor’s degree from streams B.Com, B.Sc. and B.A.
The time period to complete this course is 2.5 years.
- Accountant in business
- Financial accounting
- Business analysis
- Government, risks and ethics
The average salary package for this course is around 3.5-10 lakhs.
CMA course details
CMA stands for certified management accountant. CMA is the highest level of certification in management accounting. There are a vast employment opportunities in this course.
The qualification to this course is 10+2 or equivalent bachelor’s degree.
The duration of CMA is 3-4 years.
- Risk management
- Corporate finance
- Planning, budget and forecasting
- Financial statement analysis
- Investment decisions
The salary for this course is nearly 4-8 lakhs.
CPA course details
The acronym CPA stands for certified public accounting. It is a certification course in accounting stream. CPA is the highest standard of competence in accounting field all over the country.
The minimum qualification to pursue this course is candidates should complete their B.Com graduate program.
The time period to complete this course is 1year.
- Professional responsibilities
- Communications, evaluating audit findings
- Business environment
- Strategic planning
- Federal taxation
The average salary for this course completed candidate is 5-12 lakh
Jobs in accounting stream
The candidates who are completed their under graduation in accounts stream may get job as an accounting clerk, budget analyst, finance manager, staff accountant, accounts payable clerk, chief financial officer, accounts manager, accounts receivable clerk, forensic accounting, teacher, chartered management accountant, internal auditor, tax assistant, treasurer etc.
Employment areas of accountant
- Business schools
- Shopping malls
- Real estate finance
- International finance
- Merchant banking
- Taxation specialist
- Export companies
- Educational institutions