Diploma in Financial Accounting
Financial Accounting: Introduction, objectives, origin and growth of accounting, meaning of accounting, distinction between accounting book- keeping and accounting, distinction between accounting and accountancy, nature of accounting, users of accounting information, branches of accounting, role of accounting, limitations of accounting, systems of accounting.
Cost Accounting: Objectives, meaning and scope of cost accounting, difference between financial accounting and cost accounting, limitations of cost accounting.
Financial Reporting: Introduction, assets-based accounting standards, revenue and liability-based accounting standards, disclosure related accounting standards, preparation of single entity financial statements.
Management Accounting: Introduction, budgets and budgetary control, marginal costing- basic concepts, marginal costing and decision- making, reporting to management.
Taxation: Introduction, direct tax & indirect tax, constitutional validity of taxes, administration of tax law, sources of income tax laws in India, impact of agricultural income on tax computation.
Principal of Auditing & Governance & Company Law: Introduction, objectives, principles of auditing, objects of audit, detection and prevention of fraud, advantages of audit, limitations of audit.
Job Opportunities after completion of Diploma in Financial Accounting course:
After completing a Diploma in Financial Accounting, graduates can explore a wide range of career opportunities in the finance, accounting, and auditing sectors. The demand for skilled financial professionals has been increasing, with companies across various industries looking for individuals who can manage their financial records, analyze data, and help with tax and compliance matters. Below are some of the career options available to graduates of this program, along with their respective salary ranges in India.
1. Accountant
- Role: Accountants are responsible for managing financial records, preparing balance sheets, profit and loss statements, and ensuring that an organization’s financial practices comply with laws and regulations. They also handle budgeting, payroll, and tax filings.
- Salary Range:
- Fresher: ?2 to ?3.5 lakh per annum
- Experienced: ?3.5 to ?6 lakh per annum
- Senior Accountant: ?6 to ?8 lakh per annum
2. Junior Accountant
- Role: Junior accountants typically assist senior accountants by handling basic accounting tasks such as bookkeeping, invoicing, maintaining ledgers, and preparing financial reports.
- Salary Range:
- Fresher: ?1.8 to ?2.5 lakh per annum
- Experienced: ?3 to ?4 lakh per annum
- Senior Junior Accountant: ?4 to ?5 lakh per annum
3. Accounts Payable/Receivable Clerk
- Role: Accounts payable/receivable clerks are responsible for managing incoming and outgoing payments. They track invoices, ensure timely payments to vendors or clients, and maintain records of transactions.
- Salary Range:
- Fresher: ?1.5 to ?2.5 lakh per annum
- Experienced: ?3 to ?4.5 lakh per annum
- Senior Clerk: ?4.5 to ?6 lakh per annum
4. Financial Analyst
- Role: Financial analysts analyze financial data, create reports, and offer insights to help businesses make informed financial decisions. They typically assess investment opportunities, prepare forecasts, and track market trends.
- Salary Range:
- Fresher: ?3 to ?5 lakh per annum
- Experienced: ?5 to ?8 lakh per annum
- Senior Analyst: ?8 to ?12 lakh per annum
5. Tax Consultant
- Role: Tax consultants advise businesses or individuals on tax matters. They help with tax planning, preparing tax returns, and ensuring compliance with tax regulations. They may also represent clients during tax audits.
- Salary Range:
- Fresher: ?2.5 to ?4 lakh per annum
- Experienced: ?4 to ?8 lakh per annum
- Senior Consultant: ?8 to ?12 lakh per annum
6. Payroll Specialist
- Role: Payroll specialists manage the payroll process for organizations, ensuring that employees are paid correctly and on time. They calculate wages, handle tax withholdings, and ensure compliance with labor laws.
- Salary Range:
- Fresher: ?2 to ?3 lakh per annum
- Experienced: ?3 to ?5 lakh per annum
- Senior Payroll Specialist: ?5 to ?8 lakh per annum
7. Finance Executive
- Role: Finance executives manage an organization’s financial operations, such as overseeing accounts, auditing financial records, preparing financial statements, and monitoring budgets.
- Salary Range:
- Fresher: ?2.5 to ?4 lakh per annum
- Experienced: ?4 to ?7 lakh per annum
- Senior Executive: ?7 to ?10 lakh per annum
8. Internal Auditor
- Role: Internal auditors evaluate an organization’s internal controls, financial operations, and compliance with laws and regulations. They conduct audits, identify inefficiencies or risks, and recommend improvements.
- Salary Range:
- Fresher: ?3 to ?4.5 lakh per annum
- Experienced: ?5 to ?8 lakh per annum
- Senior Auditor: ?8 to ?12 lakh per annum
9. Cost Accountant
- Role: Cost accountants are responsible for analyzing and controlling costs within an organization. They prepare cost reports, evaluate cost efficiency, and assist in setting budgets.
- Salary Range:
- Fresher: ?2.5 to ?4 lakh per annum
- Experienced: ?4 to ?6 lakh per annum
- Senior Cost Accountant: ?6 to ?10 lakh per annum
10. Financial Planner/Advisor
- Role: Financial planners provide advice to individuals on how to manage their money, invest, and plan for retirement. They assess their clients’ financial goals, create personalized financial plans, and offer guidance on investments, insurance, and taxes.
- Salary Range:
- Fresher: ?3 to ?5 lakh per annum
- Experienced: ?5 to ?10 lakh per annum
- Senior Financial Advisor: ?10 lakh+ per annum
11. Management Accountant
- Role: Management accountants assist in business decision-making by preparing financial reports, budgets, and forecasts. They also analyze performance metrics and provide financial insights to senior management.
- Salary Range:
- Fresher: ?3 to ?5 lakh per annum
- Experienced: ?5 to ?8 lakh per annum
- Senior Management Accountant: ?8 to ?12 lakh per annum
12. Bank Teller
- Role: Bank tellers process transactions for customers, including deposits, withdrawals, and money transfers. They also provide customer service and ensure the accuracy of financial transactions.
- Salary Range:
- Fresher: ?1.8 to ?3 lakh per annum
- Experienced: ?3 to ?4.5 lakh per annum
- Senior Teller: ?4.5 to ?6 lakh per annum
13. Bookkeeper
- Role: Bookkeepers record daily financial transactions, including sales, purchases, and payments. They maintain ledgers, ensure accuracy, and may assist accountants in preparing financial statements.
- Salary Range:
- Fresher: ?1.5 to ?2.5 lakh per annum
- Experienced: ?3 to ?4 lakh per annum
- Senior Bookkeeper: ?4 to ?5 lakh per annum
14. Bank Relationship Manager
- Role: Bank relationship managers maintain and grow relationships with clients, offering them personalized banking services. They are responsible for sales of financial products and services, such as loans, credit cards, and investment products.
- Salary Range:
- Fresher: ?3 to ?5 lakh per annum
- Experienced: ?6 to ?10 lakh per annum
- Senior Manager: ?10 lakh+ per annum
15. Financial Controller
- Role: Financial controllers manage the financial operations of a company, including overseeing accounting teams, ensuring compliance with financial regulations, and preparing financial statements for senior management and stakeholders.
- Salary Range:
- Fresher: ?4 to ?6 lakh per annum
- Experienced: ?7 to ?12 lakh per annum
- Senior Controller: ?12 lakh+ per annum
16. Investment Analyst
- Role: Investment analysts research financial markets and investment opportunities to help companies or individuals make investment decisions. They analyze stocks, bonds, mutual funds, and other investment options.
- Salary Range:
- Fresher: ?3 to ?5 lakh per annum
- Experienced: ?5 to ?8 lakh per annum
- Senior Analyst: ?8 to ?12 lakh per annum
17. Credit Analyst
- Role: Credit analysts assess the creditworthiness of individuals or companies, analyzing financial data to determine the risk associated with lending money or issuing credit.
- Salary Range:
- Fresher: ?3 to ?4 lakh per annum
- Experienced: ?5 to ?7 lakh per annum
- Senior Analyst: ?7 lakh+ per annum
