byGaganDeep
Updated on - 24 May, 2024
The Diploma in Accounting and Finance is another diploma level course that takes 1 year to complete, and it offers knowledge and training in accounting and finance. His education qualifications are diploma level and he has been trained in areas such as financial accounting, management accounting, taxation, auditing, finance and financial modeling. The knowledge that students obtain in this subject includes accounting and finance concepts with an understanding of how they are applied in the business world.
There are few basic entrance exams accepted for granting admission to the Diploma in Accounting and Finance course; pass in the class 12th from any recognized board with minimum 50% marks. Certain institutes have set their prerequisites for admission based on the results of the commerce stream subjects that include Accountancy, Economics, Business Studies and the likes. Some colleges also accept those students who have passed their exams like CPT, CA Foundation, CMA Foundation, CS Foundation or have done graduation in any discipline.
| Category | Detail |
|---|---|
| Full Form | Diploma in Accounting and Finance |
| Duration | 1 - 2 Years (Full Time/ Part Time) |
| Course Level | Diploma |
| Eligibility | 10+2 (Higher Secondary Education) or Equivalent |
| Top Colleges (India) | Sri Ram College of Commerce (Delhi), Symbiosis College of Arts and Commerce (Pune), Heriot-Watt University (Kolkata), Christ (Deemed to be University) (Bangalore), Institute of Chartered Accountants of India (Various Locations) |
| Entrance Exam (Common) | Institute-conducted entrance exams |
1. At least pass in 10+2 in any stream from a recognized board with minimum 50% marks aggregate.
2. Even the final year students, the students who are going to appear for their Class 12 examination, can apply in the provisional basis provided that they have passed in the examination and secured certain percentage of marks.
3. Any person is free to apply for a course without regarding to age. All the students who have passed 12th can apply for the job along with the working professionals.
4. Any students who have completed their commerce graduates or even students who have done their graduation in science, arts, etc.
5. Some of the basic understanding of subjects, such as accountancy, economics, business studies is desirable though not compulsory.
6. Proficiency in English is mandatory because all the teaching and learning content, as well as exams, will be in English.
1. CAT – Common Admission Test for IIMs, proficiency area: quant, verbal, logical reasoning
2. XAT – Xavier Aptitude Test, emphasizes decision making, quant, verbal ability.
3. CMAT – Common Management Admission Test that tests the student’s quantitative ability, logical reasoning and language proficiency.
4. MAT- Management Aptitude Test, concentrate on intelligence, language ability, data grouping
5. ATMA – AIMS Test for Management Admissions, tests basic aptitude, logical and diagrammatic ability, and written English skills.
6. SNAP – Symbiosis National Aptitude Test: This test is also general mental ability, quant, verbal, and reading comprehension test.
7. NPAT – NMIMS Programs After Twelfth: This test is designed to measure the quantitative, logical and analytical skills, and verbal proficiency of the aspirants.
8. GMAT stands for Graduate Management Admission Test, which is the test of the quantitative, verbal, analytical writing, and integrated reasoning abilities of the candidate.
| Subject | Important Topics |
|---|---|
| Financial Accounting Fundamentals | Double Entry System, Journal & Ledger, Trial Balance, Financial Statements (Balance Sheet, Income Statement, Cash Flow Statement) |
| Management Accounting | Cost Classification (Fixed, Variable), Cost Accounting Techniques (Marginal Costing, Activity Based Costing), Budgeting & Variance Analysis |
| Financial Management Basics | Time Value of Money, Ratio Analysis (Liquidity, Solvency, Profitability), Cash Flow Management |
| Taxation Basics | Income Tax fundamentals, Goods and Services Tax (GST) - Concepts & Levies |
| Business Law & Communication | Indian Contract Act, Sale of Goods Act, Business Communication Skills |
| Computerized Accounting | Accounting Software (Tally.ERP 9 or equivalent), Spreadsheets for Accounting |
| Auditing & Assurance | Internal Control Systems, Vouching & Verification Procedures, Audit Reports |
| Elective Courses | Financial Markets & Instruments, International Trade Finance, Banking Operations & Management |
1. It is important to review the admission requirements as per the courses such as the academic background and subjects necessary for the program offered by the Institute.
2. Applicants are supposed to download the application form either online or get it done from the concerned campus and then fill it accordingly on the required personal details, contact details, and academic details.
3. Enclose documents such as photocopy of transcripts, aptitude test scores, recommendation letters etc.
4. The application fee payment can be made online or through demand draft.
5. It is noteworthy that one has to register before being able to apply and also complete the application form and submit the necessary documents before the application deadline.
6. The next step is to sit for the qualification test or an interview if one has been selected. It operates an admission policy that gives priority to students with qualities that mirror the institution’s educational goals.
| College Name | Location | Fees (Approx. Yearly) |
|---|---|---|
| Industrial Training Institutes (ITIs) | Various Locations in India | ₹3,000 - ₹5,000 |
| Government Polytechnics (Offering Diploma in Accounting or Finance) | Various Locations in India | ₹8,000 - ₹15,000 |
| State Government run Commercial/Business Administration Institutes | Various Locations in India | ₹10,000 - ₹20,000 |
| College Name | Location | Fees (Approx. Yearly) |
|---|---|---|
| Sri Ram College of Commerce (Delhi University) | Delhi | ₹70,000 - ₹1,00,000 |
| Symbiosis College of Arts and Commerce (Pune) | Pune | ₹50,000 - ₹80,000 |
| Heriot-Watt University (Kolkata) | Kolkata | ₹2,00,000 - ₹3,00,000 |
| Christ (Deemed to be University) (Bangalore) | Bangalore | ₹1,00,000 - ₹1,50,000 |
| Amity School of Business (ASB) | Noida | ₹60,000 - ₹80,000 |
| Woxsen School of Business | Mumbai | ₹80,000 - ₹1,00,000 |
| Alliance School of Business (Bangalore) | Bangalore | ₹70,000 - ₹90,000 |
| Institute of Chartered Accountants of India (ICAI) | - | ₹20,000 - ₹30,000 |
| Institute of Company Secretaries of India (ICSI) | - | ₹30,000 - ₹40,000 |
| National Institute of Financial Management (NIFM) | Faridabad | ₹1,50,000 - ₹2,00,000 |
| Specialization | Job Roles | Average Salary (Approx. Yearly) |
|---|---|---|
| General Accounting | - Bookkeeping Assistant - Accounts Payable/Receivable Clerk - Junior Accountant | ₹2 Lakhs - ₹4 Lakhs |
| Taxation Assistant | - Tax Assistant - Junior Tax Preparer | ₹2.5 Lakhs - ₹4.5 Lakhs |
| Financial Accounting Technician | - Accounts Payable/Receivable Specialist - Payroll Specialist - General Ledger Accountant | ₹3 Lakhs - ₹5 Lakhs |
| Management Accounting Assistant | - Cost Accounting Assistant - Budgeting Analyst Assistant | ₹2.7 Lakhs - ₹4.7 Lakhs |
| Banking Operations Specialist | - Customer Service Representative (Banking) - Teller (Banking) | ₹2.2 Lakhs - ₹4 Lakhs |