Accounting Course: Full form, Admission 2024, Fees, Syllabus, Entrance Exam, & Career Scope

Accounting course as a field of education is a wide arena. Accounting courses are available as academic as well as professional programmes. Accountants are responsible for managing the finances of several small and medium-sized organisations.

Creating balance sheets, profit and loss statements, and summarising the financial situation by gathering data are some of an accountant's general responsibilities. To become an accountant, students might pursue a Master of Commerce or Master of Business Administration degree.

Hi,

Cost accounting is the recording of the expenses incurred in manufacturing a product & conducting a business in such a manner that the expenses are analyzed & classified so as to enable the actual cost of any particular process or unit of production or service rendered to be determined with a minimum level of accuracy.

CMA (India) CMA (USA) are top Cost Accounting course.

Students can read the points mentioned below to know the main functions of Accounting:

• Recording: The main function of accounting is to record all transactions in which the company participates. The confirmation of transactions and their records is called bookkeeping.

• Summarising: The transaction log creates raw data. Pages and pages with raw data are not very useful for organizational decision-making.

• Reporting: The management is responsible to investors for the company's condition, and owners must receive information about the activities funded by their funds on a regular basis, and therefore regularly send them reports. 

• Analysing: Finally, accounting includes analysis results; after summarizing and presenting the results in the report, meaningful conclusions must be drawn; management must know its pros and cons; accounting helps to compare; the usual practice is to compare income, cash, and sales analysis of business performance.

Accounting is an art of recording, classifying and summarising in a significant manner, and in terms of money, transactions and events which are in part at least, of a financial character and interpreting the result there of.

By analysing this definition you will find the objective as:

• Recording of transactions
• Analysing of transactions
• Summarising of transactions

There are several reasons why enrolling in an accounting course can be advantageous. The following are some of the main ones:

• Foundational Knowledge: Financial principles are taught in accounting courses.

• Career Opportunities: Provides access to a variety of positions in business and finance.

• Helpful for Own Business: Financial literacy is developed through entrepreneurial skills to manage your firm.

• Improves Thinking: Enhances analytical and critical thinking skills in decision-making.

• Helps in Financial Decisions: Helps with investing, planning, and making wise financial decisions in personal finance management.

• Career advancement: Makes you eligible for new opportunities and promotions. Click to learn All About Accounting Period.

Hi, yes you can do Accounting without any entrance exam. You can refer below the best Accounting colleges in India that accept students without any entrance exams:

The two primary steps in the admissions process at ICAI are the eligibility criteria and the registration process. ICAI offers distinct admission points according to your educational background. Let's dissect it:

• Class 10 Passed: After completing Class 10, you are eligible to sign up for the Common Proficiency Test (CPT). If you pass Class 12 and the CPT, you can enrol in the Foundation Course.
• Class 12 Passed: After passing Class 12, you can sign up for the Foundation Course right away.
• Graduate or Equivalent: If you meet certain requirements, you can enrol immediately in the Intermediate Course (IPC) after finishing your graduate studies.
• Select the point of entry: Assess your eligibility for the CPT, Foundation, or IPC programme based on your academic background.
• Sign up: Go to the ICAI eServices website, log in with an existing account, or establish one. Fill in the application, pay the fee, submit and receive confirmation.

Joining a CA college has its pros and cons in India. In the end, it's ypur personal choice determined by your priorities and circumstances. Here's a summary of each side to aid with your decision:

Being a CA does not need attending college. You can use online courses or self-study materials to independently get ready for the tests. In the end, it is up to you whether or not to enrol in a CA college or not. Choose the option that best fits your needs and goals after carefully weighing the benefits and drawbacks, taking your tastes and circumstances into account.

Hi, you can refer below for the best Accounting colleges in India according to students preference, popularity, ranking, reputation, etc.:

The CAT (Common Admission Test) is a highly competitive entrance exam for admission to various management programs offered by top business schools in India. The percentile score in CAT exam is based on the relative performance of the test taker compared to all the other test takers.

The cutoff percentile for admission to top business schools varies from year to year and also depends on factors such as the number of candidates, difficulty level of the exam, and the number of available seats. In general, a percentile score of 90 or above is considered a good score and can help you secure admission to some of the top business schools in India. However, to increase your chances of admission to the top-tier business schools, a percentile score of 95 or above is preferred.

Yes, the difficulty level of CAT syllabus is very high as compared to other MBA entrance exams. However, if you prepare well and follow the CAT exam pattern well, you will be able to score well. Besides having an understanding of the CAT syllabus 2024, candidates also need to be well aware of the CAT exam pattern before they start preparing for the exam. The CAT exam pattern was revised in 2021 and the number of questions were reduced from 76 to 66. The structure of CAT 2022 and CAT 2023 was the same. The syllabus is still tougher than other exams.

The most important things to keep in mind are:

1. CAT exam mode is online
2. Each question carries three marks 
3. There is negative marking of minus one mark for wrong attempts

The section-wise distribution of questions and difficulty levels as per the latest CAT exam pattern are listed below:

• Quantitative Ability (QA) - 24 questions, difficulty level - moderate to high 
• Data Interpretation and Logical Reasoning (DILR) - 20 questions, difficulty level - moderate 
• Verbal Ability and Reading Comprehension (VARC) - 22 questions, difficulty level - moderate. to high

Below mentioned are the basic principal:

• Economic entity assumption
• Monetary unit assumption
• Time period assumption
• Cost principle
• Full disclosure principle
• Going concern principle
• Matching principle
• Matching principle
• Revenue recognition principle
• Materiality

Golden rules of Accounting are as follows:

• RULE 1- debit - what comes and credit - what goes (real account)
• RULE 2- debit - receiver and credit - giver(personal account)
• RULE 3- debit-expenses or losses and credit - incomes or gains(nominal account)

Some of these concepts include harmonization and convergence, foreign currency translation, and transfer pricing.

• Harmonization and Convergence: It refers to the initiatives aimed at standardizing accounting principles on a global level, thereby aligning the differences between various national accounting standards.
• Foreign Currency Translation: It deals with the aspects of accounting that result from transactions and financial statements being prepared in various currencies, in lieu of the impact of fluctuations on exchange rates on financial reporting.
• Transfer Pricing: It refers to arriving at prices for goods and services transferred between different entities of a multinational corporation subject to compliance with tax regulations and fair valuation.
• Global financial reporting standards: Learn and apply the frameworks under International Financial Reporting Standards or Generally Accepted Accounting Principles in different countries.
• Cross-border investments and mergers: Account for investments, acquisitions, and mergers where entities are based in different countries, covering the legal, financial, and reporting requirements.
• International taxation: Familiarity with tax laws and their implications across borders, particularly treaties, transfer pricing regimes, and tax optimization strategies.
• Corporate Governance: It aims to ensure transparency, accountability, and ethical practice in financial reporting and management of activities across international boundaries.

Hi Jeenu,

Various course in Accounting and Taxation are:

• PG Diploma in Accounting and Taxation
• Diploma in Accounting and Taxation
• Certified Industrial Accounting (CIA)
• Certified Public Accountant
• Chartered Management Accountant
• Diploma in Accounting and Taxation
• Diploma in Service Tax
• Diploma in Taxation Law
• Advanced Diploma in Taxation
• Bachelor of Commerce in Taxation
• Bachelor of Commerce in Tax Procedure and Practices
• Master of Commerce in Finance and Taxation
• Master of Commerce in Accounting and Taxation
• Post Graduate Diploma in Taxation
• Post Graduate Diploma in Tax Management and Tax Administration

Hi Swami, Various course in Accounting and Taxation are:

• PG Diploma in Accounting & Taxation
• Diploma in Accounting & Taxation
• Certified Industrial Accounting (CIA)
• Certified Public Accountant
• Chartered Management Accountant
• Diploma in Accounting & Taxation
• Diploma in Service Tax
• Diploma in Taxation Law
• Advanced Diploma in Taxation
• Bachelor of Commerce in Taxation
• Bachelor of Commerce in Tax Procedure & Practices
• Master of Commerce in Finance and Taxation
• Master of Commerce in Accounting and Taxation
• Post Graduate Diploma in Taxation
• Post Graduate Diploma in Tax Management and Tax Administration 

Some of the popular international accounting certifications include Certified Public Accountant, Chartered Financial Analyst, Chartered Global Management Accountant, Certified Management Accountant, and Certified Financial Services Auditor.

Accounting professionals can advance their careers and expand their skill sets by earning accounting certifications. Each certificate focuses on particular skills to be acquired and has unique educational and experience requirements. 

Hi,

It will be great if you choose any accounting course because in every field, one needs a finance and accountant. But whichever courses you will be joining, you must go in its depth knowledge.

There are two types of financial accounting; Aash Accounting and Accrual Accounting.

Cash accounting is a method of Accounting where transactions are recorded when cash is received or paid out, rather than when revenues are earned or expenses are incurred. 

On the other hand, Accrual accounting is a method of accounting where revenues and expenses are recognised when they are earned or incurred, regardless of when the actual cash transactions occur. 

Hello, Finance and accounting are two halves of the financial book. Accounting is a system for the delivery of financial information. It involves the recording of transactions and preparation of the financial statements, along with financial statement analysis regarding financial health of firms.

Finance takes the organized information provided by accounting and uses it to help run a company on a daily basis and make long term financing and budgeting decisions.

Financial accounting is an accounting system, which gives true and a fair view of the financial position of the company to various parties. Management accounting is an accounting system which provides both the quantitative and qualitative information to the managers.

Former needs good knowledge of financial statements, like cash flow, balance sheet, profit and loss statement. Whereas, latter needs more of bond-equity valuation, company valuation, prediction of results from companies past financial statements.

Hi,

B.Com deals with commerce and accounting related subjects whereas BBA is a relatively new program that was started sometime last decade and deals with subjects that give conceptual insights into how a business should be run or managed.

Hello,

In my point of view, certificate is earned by a student after taking a series of courses in a particular subject. Students often earn certificates to get a step ahead in the professional field of their interest, and certificates may be offered in similar programs leading to degrees.

For instance, there are certifica1tes in business, literature and technical fields. In some technical programs, a certificate may be required. And, can say Diploma is similar to certificates, and they're often awarded through community, offer people efficient ways to change careers, as the programs are more focused than a degree programme but more in depth than a certification.

B.Com is an age old course which focuses on all facets of Business such as Accounting, Business Administration, Law, Taxation, Finance, etc. These disciplines are evenly spread throughout six semesters.

Bachelors in Accounting and Finance has more or less the same subjects in the first two years as B.Com with a few deletions and and additions. As far as the final 2 semesters are concerned, This course dives deeply into the disciplines of Accounting and Finance.

There are many. It depends on you that which course do you want to pursue. Some of the important ones comprise CA, CWA, and CS and there are many short-term Diploma for accounting and finance.

For banking, start preparing for banking exams so that you can give exams after completing your graduation.

Hi,

After B.Com, there are many options to do, you can go with MBA in finance with reputed college, you can do some accounts diploma and certified courses, CS, CA. All the best.

Some of the important courses related to Accounting are listed below:
Financial Accounting: The concepts and principles that underpin accounting are covered in this course, along with the compilation and interpretation of financial statements.
Managerial Accounting: The use of accounting data for internal budgeting, performance assessment, and decision-making is the main topic of this course.
Auditing: The concepts and procedures of auditing, such as risk assessment, internal controls, and regulatory compliance, are covered in detail in this course.
Taxation: The concepts of taxation, tax planning, and adherence to legal requirements are all covered in this course.
Cost Accounting: The study of cost accumulation, analysis, and allocation for judgement calls and performance reviews is covered in this subject. Read What is Cost Accounting?

In Delhi, several institutions are recognised for offering strong programs in International Accounting and related fields. 

Here are some notable colleges and universities known for their International Accounting  courses:

The table below shows the average placement package offered by top recruiters who participated in top Accounting colleges in India:

International Accounting has a wide scope and necessity in the world economy. International accounting deals with the financial reporting financial and regulatory issues of companies across different countries, ensuring uniformity, transparency, comparability of financial statements globally.
Further, international accounting gives way to global market interconnections. Because of this, a single language for financial reporting becomes indispensable across markets for making effective decisions at the level of investors, regulators, and stakeholders. International Accounting reduces financial risks through the ability to provide a reliable, consistent framework of financial reporting that improves corporate governance and promotes international trade and investment.

The average salary of a Financial Analyst in India is Rs 4.12 Lacs per annum at entry level. As one gains experience and acquires more skills in this functional area, their salary package increase multifold and can reach up to Rs 8-12 Lacs per annum. Financial analysts are professionals in the finance industry who assist businesses in making decisions about their operations based on variables such as market trends, financial performance, and anticipated transaction outcomes. Click to check Financial Planning and Analysis.

Chartered accountants (CAs) were offered an average salary of around INR 7.36 LPA in the latest campus placement programme conducted by the Institute of Chartered Accountants of India (ICAI), with the highest pay reaching INR 24.64 LPA.

Students can pursue several online courses in Cost Accounting. They can have a look at the table below to get an idea of the courses and their course providers:

There are several reputable online Accounting courses available in India that cater to different levels of expertise and career goals. 

Here are some of the best online Accounting courses widely recognised for their quality and relevance:

People in the accounting profession are frequently viewed as financial leaders who choose the expansion plan and productivity of the businesses they represent. Students can pursue the below-mentioned courses after their bachelor's degree:

Know 21 Best Courses after 12th for Commerce Students

A career as an accountant is the perfect choice for anyone who enjoys handling payments and receipts, calculating taxes, and handling accounts. You must choose a job as an accountant if you are interested in maintaining and assessing financial records. The methods for how to become an accountant in India or how to become an accountant after graduating from high school are listed below:

• Determine Skills

• Enrol in a formal course or training

• Take Specialised Certification Courses

• Discover Career Opportunities and Apply

• Start a Career

An accountant must undertake a number of duties, including summarising the current financial situation by gathering data, creating balance sheets, profit and loss statements, and other reports. He must also provide evidence of financial transactions through auditing records. In some circumstances, accountants also perform book audits, create financial reports for taxation purposes, and maintain other financial data necessary for business operations. 

Read More: Accounting Career

Different types of Accountants are:

• A certified management accountant is a professional who assists large businesses and high-value individuals with a variety of financial matters, including tax planning and financial statement preparation. 

• Certified Public Accountants specialise in forensic accounting, review financial documents and reports that may later be used as evidence. In most cases, forensic accountants help to reject fictitious claims and other rules. They can also assist in divorces, commercial conflicts, and financial fraud cases.

• Accountants that assist in maintaining the financial records of large corporations are known as management accountants. They frequently assist corporate managers in making decisions by informing them of the financial ramifications of those actions.

• Cost accountants support businesses by monitoring, researching, and assessing cost purchases and expenditures made by the company.