Update on 2024-04-15
The Indian economy has witnessed rapid growth in the past few years and this has led to an increased demand for accountants in the country. Every organization, medium, big or small requires financial accountants to maintain their balance sheets, auditing, budget plans, business liabilities, and financial turnovers.
The best accounting courses in India aim to impart knowledge and skills in the different areas of accounting and finance. There are many accounting courses in India, that can be pursued by an individual after the completion of Higher Secondary or Graduation.
The career of an Accountant in India is extremely lucrative as it offers areas of growth and well-paid salary prospects. Best accounting courses help the students learn the basics of accounting and taxation after which he/she may venture into the different domains of financial and business accounting.
After completing the desired accounting courses, the candidate becomes eligible for jobs in the financial domains of the different industries. The principal work of an accountant is to keep the revenue stream of a company flowing by maintaining the financial records, tax policies, and keeping the financial data safe.
Bachelor of Commerce (B.Com)- B.Com Course is one of the best courses in Accounting and Finance in India. Students who want to set their foot in the world of accounting can take up the course after their Higher Secondary exams. The course has a duration of 3 years and equips the students with the knowledge and industry-relevant skills in Accounting and Finance. The admission criteria for some colleges involve an entrance exam and only qualified students will get admission to the B.Com course. Most of the top colleges and universities in India offer the Bachelor of Commerce course. The career prospects of a B.Com graduate include Accountant or Managers in different organizations.
Master of Commerce (M.Com)- M.Com Course is a Master’s Degree program that can be pursued by candidates upon the completion of B.Com. Masters of Commerce has a duration of 2 years and candidates learn the advanced skills of accounting, finance, business taxation, trading, and marketing. Top Universities offer the M.Com course and the admission criteria include entrance exams. The career prospects of a Masters's Degree holder in Commerce include Senior Accountant and Senior Management executive.
Chartered Accountant (CA)- The most coveted Degree in the field of Accountancy is that of a Chartered Accountant. The course is approved by ICAI which also conducts the CA entrance exams. The CA course comprises 3 levels (Foundation, Intermediate, and Finals) and an aspirant has to clear each level of the exam to move on to the next level. Candidates who have cleared their Higher Secondary exams can apply for the CA program. A Chartered Accountant becomes eligible for lucrative career opportunities as Auditors or Account Managers for reputed companies.
Certified Public Accountant (CPA)- CPA is an internationally recognized course that is conducted by AICPA, which is the largest accounting body. The eligibility criteria of this course is a Bachelor's Degree in the relevant stream. CPA is a professional course that consists of 3 levels and the candidate has to clear each level to move on to the next level. The different sections of the CPA exam include Auditing and Attestation, Financial Accounting, Business environment, and Regulations. Candidates with a CPA degree become eligible for jobs as Senior accountants.
Association of Chartered Certified Accountants (ACCA)- This is also an internationally recognized course and can be opted by anyone who has qualified for the class 12 exams with 55% marks. This course is like the CA course and comprises 3 levels. Students applying for this course have to clear 13 papers to become professional accountants. There are 3 levels of difficulty in this exam and these include Knowledge, skill, and professional level. Along with theoretical papers, the students have to undergo 3 years of practical training to qualify for this course. A candidate with an ACCA degree becomes eligible for a top-ranking job in Accounts and taxation.
Diploma course in Accounting- Students who have completed their Class 12 exams can apply for this course. This is a short-term course having a duration of 2 years. A diploma in accounting teaches students the important aspects of accounting and finance. After completing this course, the students can gain expertise in accounting and finance and become eligible for well-paid jobs.
Several online accounting courses in India can be opted for by those candidates who cannot join a full-time course. The online accounting courses impart skills and training in the different fields of accounting and taxation.
Let us now look at the different online accounting courses and their details:
S.No |
Name of the course |
Duration of the course |
Course provider |
Course curriculum |
1 |
Introduction to finance, accounting, modelling, and valuation |
Self-paced |
Udemy |
The understanding of income statement, balance sheet, and cash flow. Create a financial model for income statement and balance sheet Use of discounted cash flow and pick up target prices Analyze financial statement, debt to asset, debt to equity, inventory, and cost of goods sold. |
2 |
Diploma in Government accounting and internal audit |
Self-paced |
NIFM |
Accounting for Managers Business statistics Public financial administration Financial management Government accounting Information system for managers |
3 |
Financial accounting for Corporations |
Self-paced |
edX |
Overview of financial accounting, balance sheets, fixed and intangible assets Liabilities and equities in the balance sheet Understanding income statements and current assets |
4 |
Advanced accounting |
Self-paced |
Wall Street prep |
Understanding stock-based compensation and deferred taxes Understanding debt accounting, lease base, and stock accounting Stock sale vs Asset sale Intercompany investments Debt accounting, Capitalized interest, OID, and OIP |
5 |
Financial accounting and analysis |
Online Classroom |
Swayam |
Introduction to financial accounting Financial statement analysis Understanding balance sheet Income flow, cash flow, statement of changes in equity |
6 |
Management accounting |
Online self-study |
edX |
Cost accounting techniques Comparison of analysis and variances Budget for planning and control Monitoring of business performance |
7 |
Payroll accounting introduction |
Self-paced |
UDEMY |
Identifying payroll transactions Definition of debit and credit Processes to correct accounting of payroll Preparing payroll entries for general ledger posting Accounting of payroll |
8 |
Financial accounting - Advanced topics |
Online self-study |
Coursera |
Long term assets and liabilities Shareholder’s equity Understanding cash flow statement |
9 |
Accounting for decision making |
Online self-study |
edX |
Mechanics of financial accounting Analysis of financial statement Product costing Cost analysis for decision making |
10 |
Accounting and taxation course |
Self-paced |
Henry Harvin Education |
Basics of accounting and taxation Understanding TDS and TCS Developing financial strategies for business Understanding the concepts of litigation management Knowledge of income tax and business income |
Online accounting courses help the students to learn the principles of accounting, cost management, bookkeeping, payroll, credit, and debit. Online courses also offer industry-based case studies which will help the candidate to gain expertise in accounting and Finance. The best part of online accounting courses is the courses are affordable and self-paced. The candidates can complete the course on their own schedule. The candidates also gain Certificates upon completion of the course and the added skills make them eligible for well-paid jobs in the field of Accounting.
Finance and accounting have become some of the most sought-after fields in recent times. Every organization, big or small, requires accountants who can do the auditing, booking, and maintain the balance sheet of the company.
Best accounting courses after 12th can be opted by students from any field, provided they have an interest in finance and accounting. The accounting courses after 12th makes the students gain expertise in the laws of taxation and accounting. It also enhances their career prospects and makes them eligible for well-paid jobs in the field of accounting.
S.No |
Name of the course |
Eligibility criteria |
Course details |
1 |
Chartered Accountant |
Qualified Class 12 exams from a recognized Board |
3 levels of the course: CA foundation level- CA CPT can be taken after Class 12. Exams are conducted twice a year during June and December. This level is exempted for candidates who have a B.Com degree with 55% marks. CA Intermediate level- CA IPCC is conducted in May and November. Candidates who qualify for the course can move to the final level. CA Final level- Candidates who qualify CA final level are considered Registered Chartered Accountants. |
2 |
BBA in Finance and Accounting |
Qualified Class 12 exams from a State or National Board |
The course includes Business operations, business management, and ethics of business management. |
3 |
Cost and Management Accountant ( CMA) |
Qualified Class 12 exams from a recognized Central or State Board. |
CMA exam is conducted by ICMAI(Institute of Cost Management Accountants of India) CMA has 3 levels- Foundation, Intermediate, and Finals. Candidates must qualify for each level to move on to the next level. |
4 |
Bachelor of Commerce ( B.Com) |
Qualified Class 12 exams from a recognized Central or State Board |
Students with a B.Com degree can start their career in Finance and Accounting |
5 |
Diploma in Accounting Management |
Qualified Class 12 or equivalent exams from a recognized Board |
The course includes fundamentals and principles of accounting management- Financial statement analysis, analysis of cost control, budgeting and profit planning, quality management |
6 |
Diploma in Financial Accounting |
Qualified Class 12 or equivalent exams from a recognized Board |
The course includes principles of business law, accounting, and taxation, management skills, maintaining cash flow statements, profit and loss statements. |
7 |
Diploma in Advanced Accounting |
Qualified Class 12 or equivalent exams from a recognized Board |
The course includes advanced concepts of accounting, foreign currency operations, lease contracts, mergers of public holding companies. |
8 |
Diploma in Business Management |
Qualified Class 12 or equivalent exams from a recognized Board |
The course includes the basic principles of business management, financial management, and management skills |
9 |
Diploma in Finance and Banking |
Qualified Class 12 or equivalent exams from a recognized Board |
The course includes different aspects of banking functions, concepts of global banking, policies of banking. |
10 |
Diploma in Accounting and Finance |
Qualified Class 12 Boards from a recognized Institute with Maths as the compulsory subject |
The course includes fundamentals of banking, capital markets, Indian banking system, Practice of accounting and auditing |
The career opportunities in the accounting profession are widespread. Every organization needs accountants to manage their financial accounts, profit and loss statements, bookkeeping, taxation, auditing, and payroll. The job areas of accountants are increasing every day as companies require eligible candidates who can maintain their everyday financial ledger. Qualified accountants are entitled to jobs in both the private and public sectors.
The scope of accounting in India is growing at a fast pace as accountants are in huge demand in all kinds of industries, educational institutions, banks, and the financial sector. The rising demand in the career in accounting courses is because it is a blend of different fields like commerce, finance, business administration, insurance, and banking.
The job fields in the field of accounting in India are as follows:
Let us now check the job profiles and responsibilities of the accounting courses:
Chartered Accountant- They work on improvising the financial performance of a company and advice business organizations to take the right decision regarding taxes, mergers, and acquisitions, optimum use of assets, risk management, auditing, and accounting. Chartered accountants also work in the public sector and help in effective resource allocation and monitoring of resources. A Chartered Accountant may have the following roles in a company:
Financial Controller- The job role of a financial controller is to manage the accounting activities of a company, set up bank accounts, and create financial reports. A financial Controller also acts as the chief financial officer(CFO) of a company and manages the sales tax reporting, income tax reporting, and regulatory compliances of the company.
Budget analyst- The job role of a budget analyst is to maintain the budget and funding of a company. A budget analyst has employment opportunities in various sectors like Stockbroking, Defence, Healthcare, Manufacturing, and Insurance. A Budget Analyst also takes care of the financial reporting and funding goals of a company.
Certified Public Accountant- The main responsibilities of a Certified Public Accountant is to maintain the financial statements of a company, manage financial records, manage the accounting and auditing. The CPO also assists in tax filings and helps in making changes for improving the revenue flow of an organization.
Company Secretary- The job role of a company secretary is to maintain the strategic, legal, and financial areas of a company. He/she also advises the company on matters of regulatory compliances and maintaining good relationships with the shareholders. The responsibility of a Company Secretary may also extend to managing the human resources, assessing business performance, and arranging contracts with suppliers.
Director in Finance- The job role of a Director in Finance is to manage the financial strategy of a company, help in the company’s fundraising strategy, monitor the reports of the key performance areas, maintain the regulatory compliance and suggest areas of improvement for the company. The Director of Finance helps the organization to optimize its overall financial strategy.
Financial auditor- The responsibilities of a Financial Auditor are to represent the company’s financial position by reviewing the accounts of the company. The auditor also manages the company’s financial reporting, identifies areas of risk, and makes strategies accordingly. The Financial auditor also advises the management to work efficiently.
The average fees of the accounting courses vary from one Institute to another. The fees of the accounting course depend upon the course and also on the Institute offering the course. Usually, the fee for Diploma courses in Accounting is less than that of the degree courses.
Let us now check the average fees of accounting courses, the name of the course, colleges offering the course, and their location:
S.No |
Name of the College |
Name of the course |
Location |
Fee structure |
1 |
Annamalai University |
M.Com in accounting and taxation |
Tamil Nadu |
INR 18.27K |
2 |
Chandigarh University |
B.Com in Advanced Cost Management and Accounting |
Chandigarh |
INR 3.19 Lac |
3 |
IIFM College |
B.Com in International Accounting and Finance |
Bangalore |
INR 4.5 Lac |
4 |
Pondicherry University |
B.Com in Accounting and Taxation |
Pondicherry |
INR 25.93 K |
5 |
Surendranath College |
B.Com(Hons) in Accounting and Finance |
Kolkata |
INR 12.73 K |
6 |
Christ University |
B.Com in Finance and Accounting |
Bangalore |
INR 2.9 Lac |
7 |
Lovely Professional University |
B.Com( Hons) |
Jalandhar |
INR 4.8 Lac |
8 |
Institute of Cost Accountants of India(ICAI) |
Certificate Course on Forensic Accounting and Fraud prevention |
Delhi |
INR 20 K |
9 |
Amity University |
Post Graduate Diploma in Public Accounting(Online) |
Noida |
INR 30 K |
10 |
Presidency College |
B.Com |
Bangalore |
INR 2.4 Lac |
11 |
G.D Goenka University |
Diploma in Accounting and finance |
Gurgaon |
INR 3.5 Lac |
12 |
NIIT |
Diploma in Accounting and finance |
Rohtak |
INR 5.45 Lac |
From the above table, we can see that the average fees of accounting courses are different for the different Institutes. Some colleges offer Post Graduate courses in Finance and Accounting while some colleges offer Diploma Program In accounting. Candidates who are interested in taking admission to the Accounting courses can check the name, duration, eligibility criteria, and average fees of accounting courses before applying for the course.
Summary:
The Indian economy has undergone a major transformation and this has resulted in an immense demand for Finance and accounting courses. The best courses in Accounting in India open a wide range of career opportunities for individuals in all kinds of business sectors. An accounting expert with the required knowledge and skills becomes eligible for lucrative job opportunities in both Private and Public organizations.
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