What do you understand by Accounting?
The word accounting can be described as the process of analyzing and summarizing the data. Accounting also comprises of auditing and also maintaining the transactions using various accounting techniques and softwares. Although, we don’t notice much but no wonder accounting is a part of our day to day life. Youngsters are now getting so much attracted towards this profession as this profession provides you a good pay scale and a reputed profile. A degree in accounting holds as much of importance as of a professional course. Here in this article we look forward to the top most accounting courses and it’s requirements and scopes in future.
Advantages of Accounting
Accounting has vast area of scope in today’s world. If we look around every industrial sector whether be it private or government needs to keep a track of it’s data. So there is a high demand of account graduates and certificate holders in corporate sector. A benefit of being an account graduate is that you can even start your own business or firm. Only the basic skill required is that one must be good in mathematics as accounts can be termed as another form of mathematics.
Types of Accounting
Accounting is generally categorized into various types such as financial accounting, public accounting.
Financial accounting means keeping a track of finances and generating a report. These reports get analyzed by the stakeholders and investors. In public accounting an accountant has to look for organization’s income, expenditures, savings.
10 courses / certification for Accounting lovers.
There are numerous amount of accounting courses available in India. Which also provides great career opportunities. The top amongst them are:
This course is a 3 year program same like other graduation programs.
Eligibility : A student must have passed class 12 with certain amount of percentage described by the University. Universities have criteria such as conducting entrance test and personal interview sessions.
Scope : A B.Com graduate is equally eligible to become a bank manager, accountant etc.
This course is a 2 year program which can be pursued after the graduation.
Eligibility : A student must have completed the graduation in the same stream i.e, B.Com.
Scope : A student with master’s degree can a get a higher post in accounting like senior accountant and can also apply for bank manager post etc.
CA is professional course which comprises of 3 different levels which are termed as foundation, intermediate and finals. All the three level should clear so that a candidate can become CA.
Eligibility : Any student can take CA after the completion of class 12. But if a student has 55% in bachelor’s he/she can directly join the level intermediate.
Scope : CA is high professional courses which can give you a huge pay scale. It provides roles such as auditor, senior accountant etc. Various institutes in India provides coaching for CA.
ACCA course is provided by the UK based body.
Eligibility : To get enrolled in ACCA, a candidate must have 55% in class 12.
Scope : This will open the opportunities in the auditor, tax sectors and also in banking sectors.
CMA is a diploma course provided by various colleges and universities
Eligibility : A student after completing 10+2 is eligible to go for CMA course along with B.Com.
Scope : A CMA diploma holder can become cost accounting, internal auditor also finance manager etc.
CPA ( US certified public accountant)
CPA is a USA based certification course and comprises of the 4 levels.
Eligibility : candidate must hold a bachelor’s degree so as to pursue this CPA course.
Scope : CPA is a high valued course and works in the field of of accounting, compliance , taxation etc.
CFA ( Chartered Financial Analyst)
CFA degree is provided by a international based American CFA institute.
Eligibility : minimum qualification required for CFA course is a bachelor’s degree and a 4 years of work experience or so.
Scope : CFA degree holders have future as security analyst, fund managers, asset managers etc.
CIA (Certified Internal Auditor)
The Institute of Internal Auditors-USA offers the Certified Internal Auditor (CIA) certification programme.
Eligibility : A student must have bachelor’s degree plus 2 years of relevant work experience.
Scope : CIA certificate holder can become auditor, auditing manager and cheif internal.
CGAP (Certified Government Auditing Professional)
The Institute of Internal Auditors offers the Certified Government Auditing Professional (CGAP) designation.
Eligilbilty : A candidate must have associate degree, graduation or post graduation diploma. Also relevant work experience of 12 to 24 months.
Scope : The degree holders can work relevantely in the public sector and get position of internal – external auditor etc.
CISA(Certified Information System Auditor)
Certified Information Systems Auditor (CISA) refers to a post issued by the Information Systems Audit and Control Association (ISACA).
Eligibility : ISACA requires all CISA applicants to complete five years of professional IS auditing, control, assurance or security work so as to become CISA certified.
Scope : It offers candidate work posts like information system auditor, senior information auditor and planning auditor. Also you can prepare for govt job etc.
Wish you all a bright future ahead also stay focused and determined.