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Home Accounting

Financial accounting – Course, Scope and Career Opportunities

by Reethu S Arya
November 2, 2022
in Accounting, Articles, General Knowledge
Financial accounting - Course, Scope and Career Opportunities
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Table of Contents

  • Financial accounting – Course
  • Financial accounting – Scope 
  • Financial accounting – Career Opportunities
  • Financial accounting – Salary

The field of accounting is always stays in demand as it is the backbone of every business entity. Accountant is needed in every industry. It is one of the highly respected profession in the world. “Accounting is the process of keeping financial accounts. It estimates the economic activities of an organization and forwards this information to a investors, creditors, management and regulators”. The practitioners and professionals of accounting are known as Accountants. The certified professionals in these fields are known as Chartered Accountants.

A job in public accounting will provide one with an experience in many different facets of the accounting field, from the preparation and review of financial statements to analyzing budgets to tax work to consulting and advice on a range of financial issues.

Financial accounting – Course

  • Minimum education of bachelor’s degree in accounting is required to begin career as accountant
  • Starting a career in accounting, first step is to accomplish an undergraduate degree in accounting
  • One can pursue diploma courses, bachelor’s level, master’s level and doctorate level education in accounting.
  • Diploma Course in Accounting & Finance – 1 year duration
  • The are Bachelor’s Courses are;
    • B.Com in Accounting & Finance – 3 years
    • B.Com Accounting & Taxation – 3 years
    • Bachelor of Commerce in Accountancy – 3 years
    • BBA in Accounting & Finance – 3 year
  • Skills Required for Accountant
    • Communication Skill
    • Analytic & Interpersonal skills
    • Knowledge of accountancy software
    • Strong in mathematics
    • Understanding of accounting procedure
    • Ability to work for longer duration in environment of computing area

Financial accounting – Scope 

1: Accounting provides information on

2: To figure out the worth of the end stock during the finish of the monetary year we,

3: Deals invoices are first placed in

4: Entered in the Purchases Journal is

5: Copyrights, Patents, and Trademarks are instances of

    Fill out the form to see the results

    Ever wondered how much you really know? It's time to put your brain to the test!

    • Accounting job can differ from entry level to executive level.
    • Accountant plays the very vital role in any business
    • It is a very crucial part of an organization, for managing payroll, auditing and financial management
    • Due to the individual demand of different companies, the demand of accountants is expanding.
    • Eligible applicants can find jobs in public, private or non-profit industries and companies.
    • One can opt for various career profiles such as clerk, payroll clerks and accounts clerk.

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    Financial accounting – Career Opportunities

    • Profession in accounting is one of the top career choices marked by the students of India.
    • Many number of options open for the candidates seeking career in accounting
    • The job of accountants lies in public as well as in private sector
    • If one is choosing their career to be an accountant then, the career options in this field are available in numbers.
    • One can go for different jobs under this course. One can do job in outside of India also.
    • Every organization needs an accountant that manage and maintains the financial records of the companies.
    • It enables the organization to judge their success/failure and plan for the future. There are different positions available in this field
    • Lucrative jobs available for chartered accountants in India as well as in foreign countries.
    • One can choose teaching profession in this field. Job opportunities are available in accountancy firms, insurance companies and banks.
    • One can also employed in private organizations or companies.
    • Job profiles can look like,
      • Finance Managers
      • Financial Controllers
      • Financial Advisors
      • Directors (Finance)
      • Certified Public Accountant
      • Chief Financial Officer
      • Chartered Management Accountant
      • Company Secretary
      • Public Accounting
      • Audit
      • Tax
      • Budget Analysis
      • Financial
      • Management Accounting
      • Real Estate Finance
    • Recruiters are as follows
      • Wipro limited
      • Bharat Electronics Ltd
      • Vedanta Ltd
      • Ujjivan Financial Services Ltd
      • ITC Limited
      • Tata Motors
      • HPCL

    Financial accounting – Salary

    • The salary in accounting field is based upon the position you are holding in the accounting department.
    • The accountants and auditors earns an average salary of $61,690 per year.
    • The average pay of an accounting manager is Rs 606,014 per year.
    • Pay increases steadily for the employees having experience. Chartered Accountants (CA) in private sector gets the handsome salary.
    • Those working in government sector earns remuneration of 3.5 lacs per year with other allowances.

    Download Entri and practice free mock tests and ace your competitive exams 

    I hope this article was helpful. The key point to clear an exam lies in methodical and planned preparation. If you are a candidate who wants to pursue your dream career and looking for a good start, our  Entri app has got it covered for you. Over the last decade, the concept of education has drastically changed, thanks to the internet. Let’s talk about all the positive contributions it has made. Consistency is the key. Be regular and punctual. Set a study pattern, modify it as per your needs and wants. You know yourself better, so plan accordingly. Our team will help you with content and insights related to the topics of your concern. Subscribe to our app today and enrol yourself into various programmes our app offers. Tune in to the app to stay updated regarding various aspects of the subject you are interested in. Feel free to post any queries and doubts in the comment section. We will try our best to reach out. Push away all those self-doubts and negative thoughts. Try to have a clear vision. Ask yourself why you want this. Focus on the good and work hard. There is a saying that goes like this, Get up and set your shoulders to the wheel-how long is life for you? as you have come to this world leave some mark behind or where is the difference between your trees and stones they too come into existence decay and die. Each day is a precious gift bestowed upon us so make it count. Work on yourself. Stop procrastinating. Today is the day, hope for the best. Good luck

    Share64SendShare

    Reethu S Arya

    Reethu is a learner, orator and storyteller who keeps it all to herself unless it’s for exams and grades. She claims her spirit animal to be a cute fluffy panda (not your regular ones)and has been its disciple since day one! She thinks she connects more with words than with people. She believes her writings will someday help somebody in some way as they did with her!

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