Best accounting courses in India

Overview: Education plays the most vital role in a student’s career and academic life. They want to grow up their knowledge as well as want a reputed job in a company, therefore, they decide to pursue many courses in her/his life to develop their skills and knowledge.

Here, First of all, I will introduce you to accounting. After that show you a list of the 10 best accounting courses. Moreover, I will discuss with you the top 10 accounting courses in brief with their eligibility and duration. Furthermore, I will explain 5 FAQs about the best accounting courses in India.

Table of contexts:

1: Introduction to Accounting

2: 10 best accounting courses in India

3: Brief introduction, Eligibility, and duration of best accounting courses in India

4: Annual Salary after the completion of best accounting courses in India

5: 5 FAQs about best accounting courses in India

Introduction to Accounting 

Accounting is the field of study, also known as the science of measurement of economical activities of businesses.

In other words, you can say that Accounting is the process of measurement, classification and communication of financial transactions about economic entities such as various businesses (hospitals, schools, IT companies so on.) and corporations.

There are multiple courses around the study of accounting that are available in the form of professional degrees, undergraduate programs, certificate-based courses, and short term based courses or even long term ones. 

Top 13 best accounting courses in India

There are plenty of courses offered by different universities and colleges around the nation that plays important role in the formation of the student’s career in the field of commerce and accounting. Some of the best accounting courses in India are as follows:

1. 1: Certified Management Accountant

2: Association of Chartered Certified Accountants

3: Business Accounting and Taxation

4: Chartered Financial Analyst

5: Financial Risk Management

6: US Certified Public Accounting

7: GST or Goods and Service Tax

8: Bachelor of Commerce or B.Com. in Accounting and Finance

9: Masters of Commerce or M.Com. in Accountancy and Finance

10: Chartered Accountant or CA

Let’s discuss the above-mentioned courses in brief down below:

CMA (Certified Management Accountant)

CMA is a popular hardest course in the finance sector and is mostly pursued by commerce students, which includes deeper knowledge about the finance field and also trained their expertise in accounting. CMA course is divided into three levels as Foundation, Intermediate and Final level. CMA certified people need to pass all levels of the CMA course.

Eligibility: 12th pass or national diploma in commerce for foundation level

To apply for the CMA intermediate level exam, people should have passed the CMA foundation level and have an undergraduate degree in any discipline.

To apply for the CMA final level exam, people should have passed the CMA intermediate level exam.

A bachelor’s degree or a professional certification along with 2 years of relevant work experience can apply for the CMA course.

The duration of CMA is around six months.

ACCA (Association of Chartered Certified Accountants)

ACCA course is also a professional course that includes several aspects of the accounting domains such as business accounting, management accounting, business law, financial accounting and management, taxation, financial reporting etc. and it is based on the practical and theoretical approach. There are a total of 13 papers examination that a student needs to pass when it comes to going along with this course. They also instruct in 3 years of practical training associated with this course.

Eligibility:

A student needs to have completed the class 12 exams or graduation after which they can pursue the course of ACCA. Students having at least 55% of marks in class 12 can be eligible for admission to the ACCA course. ACCA is based out of UK.

The duration of ACCA is around 2 years.

BAT (Business Accounting and Taxation)

BAT is also one of the professional courses that are equivalent to a bachelor’s degree in accounting and taxation that includes first depth and intensive study of the field. BAT gives knowledge of financial reporting through SAP, QuickBooks, direct taxes, auditing and much more 

Eligibility: B.com. or above.

The duration of BAT is around 8 weeks to 12 weeks.

CFA (Chartered Financial Analyst)

CFA certification course, trained the people in all aspects of finance such as analysis, estimation, forecasting the future performance of the company, portfolio management etc., and also includes various topics related to the financial reporting, economics, quantitative methods, taxation analyses, fixed income, equity investment, portfolio management etc.

Eligibility: Graduation and 2 years of professional work experience.

The duration of CFA is around 2 years six months.

FRM (Financial Risk Management)

FRM course allows the candidate to identify the risk aspects of a business such as credit risks, operation risks or market risks. It also helps a candidate to develop logical and analytical skills as well as in-depth knowledge of risk management, valuation, financial markets etc. After completion of this course, people may get a chance to work with banks, asset management companies, insurance, consulting firms etc. 

Eligibility: Graduation and above.

The duration of FRM is around 9 months.

US Certified Public Accounting (CPA)

CPA is a marvellous professional course, based out of the USA that is highly accepted and regarded globally, including in India and conducted by the American institute of certified public accountants. CPA course also has three different levels and the people can take along this to enhance their skills in the field of accountancy, taxation, laws, audit etc.

Eligibility: A person needs to have a relevant bachelor’s degree to apply for this course. 

The duration of CPA is 2 to 4 years. 

GST (Goods and Service Tax)

GST is a short term course that trained the person to easily understand the basics of taxation, GST structures and rates compared to the old taxation rates, the applicability of tax in different industries etc.

Eligibility: There are no eligibility criteria for this course.

Duration: GST course can be easily completed within 32 hours.

Bachelor of Commerce (B.Com.) in Accounting and Finance

B. Com. in Accounting and Finance is a bachelor’s degree course of study for the students of commerce background.

Eligibility: 12th pass

Duration of B. Com. Course is 3 years.

Masters of Commerce (M.Com) in Accountancy and Finance

M. Com. Is advance trendy and worthy post-graduate program degree course that covers advanced aspects of accounting knowledge? B.Com. graduate tends to learn the professional and advanced aspects of the accounts and finance considered as the postgraduate or masters of commerce.

Eligibility:

Students who must have completed Graduation in a similar stream can apply for the entrance test and then continue to go through the admission procedure.

Duration of M. Com. Course is 2 years.

Chartered Accountant (CA)

CA is the professional degree course based on the accountancy field that comprises three levels namely foundation, intermediate and final examinations. 

Eligibility: 

A student should have completed class 12 to apply for this course. The person needs to have at least 55% in bachelors to directly enrol in the Intermediate levels of CA and be granted exemption from the foundation level.

The duration of the CA course is around 3 years after graduation and 4.5 years after class 12.

Annual Salary after the completion of Best Accounting Courses

The average annual salary of the above-mentioned courses is approximately 3 Lakhs to 18 Lakhs per annum.

FAQs about Best Accounting courses in India

Q1: What are the importance of the best accounting courses in India?

Accounting plays an important role in running businesses to track income and expenditures, ensure statutory compliance also provide investors, management with quantitative financial information that can be used in the decision-making process in various businesses.

Q2: What are the advantages of accounting courses?

As we know that money plays a vital role in our daily life. So to keep track of this monetary information in businesses we should have knowledge of accounting that helps in decision making and to invest our money in businesses. Many advantages of best accounting courses are as follows:

Flexible career path

High earning potential 

Every industry needs accountants

Graduate schemes and training

Transferable skills

Communication, Time management and organisational Knowledge and awareness of business organisations

Ability to argue your case and negotiate

Q3: What are the various basic key aspects of the best accounting courses in India?

After completing of best accounting courses in India, you may familiar with the following accounting key terms:

1: Book-keeping is the art of keeping accounts regularly and systematically.

2: Assets which is the statements that set out what the firm possesses are assets.

3: Liabilities refers to how much a firm owed to others is known as liabilities.

4: Capital refers How much money belongs to the proprietors is known as capital.

Some other basic aspects of these courses are accounts payable, accounts receivable, journal, general ledger, payroll and trial balance.

Q4: What do you know about accounting software?

Accounting software is application software that helps to handle records and processes accounting transactions within functional modules such as accounts payable, accounts receivable, journal, general ledger, payroll and trial balance. Some of the examples of accounting software are ERP systems, Payroll management systems, Tally etc.

Q5: What are the scopes of various best accounting courses in India?

The monitory transaction is the most necessary task in a business due to which people trying to make their careers in such accounting fields. Therefore, with the rising demand, there are plenty of accounting educational courses offered by different universities and colleges around the nation.

Accounting is considered the language of business. Accounting helps to keeps track of all monetary information of businesses. 

The scope of the best accounting courses in India is very wide. After completion of the CMA course, people may work as the profile of chief financial officer, financial controller, chief investment officer, corporate controller, etc. Also, it enables candidates to earn 30% more compared to other courses of education. A CA qualified can work in the roles of account manager, auditor, senior corporate levels and more. A B. Com. Graduate can become an accountant, manager, organizational leader. An M. Com. Course allows students to become senior accountants and members of higher management and more.