Accounting

Accounting is taught right from the intermediate class. In degree level the subject is taught with much emphasis. One can take it as a pass subject or an honours subject at the degree level. After completing BCom one can do M.Com with specialisation in Accounting and finance.

Note: Computer accounting courses are now a days very much popular due to its large employment opportunities. The computer accounting package like Tally is quite useful for doing accounting works in offices. Hence young intermediate or graduate after pursuing these courses can directly enter to a private company as junior accountant.

With the rapid growth of banking and financial sectors in the country, the demand for skilled accountants

has also been increased considerably. Today the world of finance and investment banking attracts many top graduates to this field.

There is an array of career opportunities to suit all interests including traditional auditing and assurance work, management consulting, corporate finance, IT consulting, tax planning, human resources (HR) and insolvency. The same is true for the large investment banks and financial institutions.

After gaining their professional qualifications, many accountants move into senior management positions in large firms. The Chief Executive Officers (CEOs) in many of the India’s leading companies are qualified accountants. All Finance Directors (the step down from the CEO in the corporate hierarchy) are accountants.

Accounting graduates can hold positions as follow:

Staff Accountant: This is an entry-level job, usually at public accounting firms. Accountants sometimes go into the audit pool, which is a large group of accountants who get picked out from time to time to work on audits under the supervision of a senior, usually a chartered accountant.

Typically, freshers get the easier audit assignments, namely, cash accounts, for instance, leaving the Swiss bank accounts and money-laundering operations to older hands! In private accounting, the staff accountant may have responsibility for managing particular accounts, such as accounts receivable or accounts payable.

Internal Auditor: In this line, you'll basically do for a company what a public accountant does for the public record: make sure that the value is where it should be. It used to be a position one would cut their teeth on before moving up, now accountants are staying at this level longer.

Budget and Credit Analysts: The budget section of an organisation usually plans and manages corporate finances for the entire year or longer. The government also employs thousands of budget analysts to do the same type of work for public programmes and expenditure.

Credit specialists focus on whether or not customers or institutional clients can repay a loan or credit line. Banks and other financial institutions are the biggest employers of such analysts.

Senior Accountant: This is the level when you begin to live a little comfortably. It is the second level in the public accounting hierarchy. After a year or two at a public accounting firm, your paycheck improves and you might get sent out alone to run an audit. This is also when a lot of accountants, as many as eight out of 10, leave their firms for some form of private corporate accounting.

Controller: Here is where you begin to be more of a rudder for the organisation, taking on more and more decision and strategy-making responsibilities. The responsibilities and pay will vary considerably depending upon the size of the firm.

Controllers generally leave most of the actual number juggling to junior accountants and take a more strategic role in the support side of the business, planning the allocation of various funds throughout the company.

Manager: Okay, you're reaching the top now. If you get to this point, the firm thinks you're partner material and you're probably giving the idea some serious thought yourself.

You don't do as much hands-on auditing anymore, although managers often handle sensitive issues such as an important client's creative bookkeeping. Mainly, you plan and assemble audit teams and allocate various jobs. In most cases, this is a five-to-seven-year test with significant competition from your peers, who are also on the partner track.

Owing to rapid strides in the field of science and medical industry, today biochemist professionals symbolize success and quick career growth. As a trainee, one can start with a salary of Rs.8000-Rs.150000. one can command a higher salary as the experiences raises, generally MNCs and private companies pay higher.