The accounting and finance industry will continue to grow and be in demand as the years go by. Since organisations from all types of industries are required to keep a public record of their accounts, there will always be a requirement for professionals who are qualified in the field of accounting and finance.
It is regarded as one of the most prestigious and well-paid professions in the world. Accounting is essential for any business; thus, it necessitates expert knowledge, which can be acquired through a variety of accounting courses in India. These courses cover topics such as accounting concepts, law and regulation, financial accounting, and more.
So, if you want to work in this ever-expanding field, it would be quite helpful to take a professional accounting course that brings you a blend of theoretical and experiential learning. This article includes a list of the top 8 accounting courses in India, from which you can choose one or multiple courses to develop your accounting knowledge and skills.
Top 10 Accounting Courses in India
1. B.Com in Accounting and Finance
Bachelor of Commerce (B.Com) in Accounting and Finance is a three-year undergraduate programme. It is a course that covers the essentials of accounting and financial management.
The only requirement for B.Com is 12th or equivalent qualification in any stream from a recognized school and board with a minimum score of 50%.
As every firm needs someone to deal with accounting, this course allows you to work in any field. As a result, you can work in a range of sectors and open many doors. A student can pursue M.Com and MBA degrees after finishing B.Com to gain additional management abilities and advance their career.
Jobs and Salary:
B.Com Accounting and Finance graduates have a wide range of job options in India, as they are often in demand by SBI, KPMG, and EY, among others, for job roles such as accounting managers, auditing assistants, etc. Depending on the position, company, college, and skills, the starting salary of a B.Com graduate can fall anywhere between the range of INR 2 to 4 lpa.
2. M.Com in Accounting and Finance
The Master of Commerce (M.Com) in Accounting and Finance programme is a two-year postgraduate study in accounting and finance. It is a higher degree of systematic study focusing on specialised finance and accounting subjects such as financial accounting, cost accounting, and so on.
Anyone with a B.Com, BBA, BCA or another accounting bachelor’s degree can apply for the M.Com programme after meeting the cut-off score requirement of the institution.
It can assist you to enhance your accounting and finance career and move you to a senior position within the company. An M.Com degree can help you gain professional communication, management, and leadership skills to pace up your career with a good position and package.
Jobs and Salary:
An M.Com degree can help you get a job as an assistant accounting manager, finance consultant, or cost accountant, among other positions. The remuneration ranges from INR 4 to 6 lpa.
3. Chartered Accountant
The CA programme is a professional accounting certification that qualifies a person to work as a chartered accountant. This course is offered by The Institute of Chartered Accountants of India (ICAI).
An applicant must pass their 10th with at least a 60% score from a recognized board.
Even students studying for their class 12th exams qualify to appear for these examinations.
Public and private organisations, including banks and financial institutions, are constantly looking to hire Chartered Accountants. Chartered Accountants can also create their auditing and accounting firm, and provide accounting services to their clients.
Jobs and Salary:
Salary for CA positions is determined by the job profile, business, and abilities. Depending on the employer, the CA remuneration package ranges from 6 lakh to 8 lpa.
4. Association of Chartered Certified Accountants(ACCA)
The ACCA qualification is a wonderful way to start a career in accounting and finance because it is a globally recognized course with industry-relevant content. It consists of three levels and requires extensive practice and training to complete. Online coaching institutions like Zell Education can help you complete the ACCA Course with flying colours.
Candidate must be at least 18 years old and pass 10+2 examination with a minimum of 65% in Mathematics, Accounts, and English, as well as at least 50% in other subjects.
ACCA offers a variety of job options both globally and in India. With major firms and MNCs, an ACCA-certified individual can work as an accountant, financial planner or management consultant.
Jobs and Salary:
After completing the ACCA course, the salary ranges from INR 6 to 8 lpa, depending on the profile.
Job profiles an ACCA professional can work in
5. US Certified Public Accountant Course (US CPA)
The US CPA licence is awarded by The American Institute of Certified Public Accountants (AICPA), which is a US-based accounting body. The course covers accounting topics such as laws, taxes, and principles, among others. The US CPA licence qualifies you as an accounting specialist and opens up a world of possibilities.
To be able to give the US CPA exam, a candidate must have 120 credits, whereas, for the licence, you need 150 credits. In India, the most qualifications that make you eligible for US CPA
- Exam – Graduation + 1 year of Post Graduation (120 credits)
- Licence – Graduation + post graduation (150 credits)
It is an internationally recognised exam, so it opens a wide range of job opportunities in top MNCs and businesses, where candidates can work as accountants, public accountants, and cost accountants.
Jobs and Salaries:
When working for businesses like EY, Deloitte, KPMG, PwC, and others in India, US CPA salaries range from INR 6 to 8 lpa.
6. Cost Management Accounting Course
It is a three-level course that is conducted by the Institute of Cost Accountants of India (ICAI). To work as a cost accountant, candidates must pass all the exams that test one’s accounting skills.
An applicant must pass their class 12th exams with at least a 50% score from a recognized board.
After completing the CMA course, you can work in consulting businesses, financial institutions, research organisations, government regulatory agencies, and more.
Jobs and Salary:
The average starting salary of a cost accountant in India is anywhere between INR 5 to 9 lpa.
7. Certified Management Accountant (US CMA)
One of the most popular international certification programmes for accountants is the Certified Management Accountant (US CMA). The course duration is anywhere from 6 months to 4 years.
A student in their first year of college can also appear for these examinations. However, for the completion of this course, and to achieve your CMA degree, you do need to complete your graduation.
The CMA is internationally recognised and well-known for its work prospects on a global scale in the field of management accounting.
Jobs and Salary:
The average salary is around INR 7 lpa and candidates can work in various financial institutions, banks, auditing firms, etc.
Job profiles a US CMA can choose to work in:
8. Diploma in IFRS
This is a three-month programme that can be completed concurrently with other accounting certifications. It equips the students with an in-depth knowledge of the International Financial Reporting Standards (IFRS).
To qualify for this Diploma course, you need to meet one of the following criteria –
- Two years of relevant accounting experience and a relevant law degree
- Two years of relevant accounting experience and a certificate in International Financial Reporting
- Three years of relevant accounting experience
As this may be done while seeking another qualification or employment, it can help you achieve a wide range of opportunities from all over the world.
Jobs and Salary:
After specializing in this field and gaining industry experience of 6 to 8 years, your earning potential can rise to INR 8 to 10 lpa or above.
9. Chartered Institute Of Management Accountants (CIMA)
CIMA is a management accounting course that prepares you for an exciting career in finance sectors like wealth management, banks, audit firms, investment banks, IT sectors, and even e-commerce. Since the CIMA has a tie-up with the US CPA board, with a degree in CIMA and 36 months of practical experience you can qualify for an additional CGMA designation.
Wondering what are the eligibility requirements for enrolling for CIMA? Here’s all you need to know about CIMA eligibility.
- To enrol for the CIMA course, you either need a class 10th passing certificate or O-level or an intermediate or A-Level.
- You can also enrol for the course with an undergraduate or graduate degree in any field.
- For an easy entry into the CIMA course, the best route is an MBA degree or a professional accounting qualification.
After completing the Chartered Institute Of Management Accountants course, a candidate can explore jobs in professions like Wealth Management, Treasury Management, Corporate Finance, Business Analysis, Financial Reporting, Financial Analysis, Project Finance, and Risk Management.
Jobs and Salary:
After completing CIMA you can expect jobs in A H Worth & Co Ltd, Abbott Ireland, AbbVie Ltd, Absa Bank, Accenture Acuity Knowledge Partners Lanka (Private) Limited. Average salary to expect ranges from INR 5 LPA to 8 LPA.
10. Financial Modelling
A bachelor’s degree in Financial Modelling could take around 3 to 4 years whereas a diploma course will take around 1 to 2 years, and if you happen to choose a short-term online course then expect a learning journey as short as 2 weeks. Here are some of the major concepts you’ll be learning if you compliment your CFA degree with a Financial Modeling course.
Since the Financial Modelling Course can be pursued either as an undergraduate degree, postgraduate degree, diploma degree or a short-term certificate course, the eligibility criteria for each of them differ.
Here are the course-wise eligibility criteria to help you prepare better for Financial Modelling courses.
Undergraduate: 10+2 From a recognised university
Postgraduate: Bachelor’s Degree From a recognised university
Certificate: 10+2 From a recognised university
Diploma: 10+2 From a recognised university
Financial modelling plays a significant part in running a successful business with the right decision-making processes. The procedure of financial modelling consists of forecasting a company’s financial performance by considering factors like demand, supply, pricing, operational cost, past revenue, customer behaviour, etc and then combining it with the calculations of the effect. Financial modelling typically considers variables like the company’s past performance, growth, and risk assumptions to estimate its valuation or compare it with industry peers.
Jobs and salary:
Pursuing a course in financial modelling equips you with the skills required for entry-level jobs in Financial Planning and Analysis, Equity Research, Investment Banking, Credit Research, and many more.
If you are planning to pursue a career in Accounting and Finance, there are numerous pathways that you can take. If you are interested in any of these courses or are looking for some guidance about your career, you can check out the courses at Zell Education and reach out to us for any queries.
Is it possible to do ACCA after B.Com?
Yes, you can definitely do ACCA after B.Com. In fact, if you are a B.Com graduate, you may be able to claim exemption from the Knowledge level papers of ACCA.
Which accounting course to pursue to be able to work outside India?
If you are planning to work outside India, you should go for globally recognised courses such as ACCA or US CPA.
Which course should I pursue to work as an Investment Banker?
For those who want to work in finance-related profiles such as investment banking and portfolio management, you should either pursue CFA or MBA in Finance.