B.Com. in Accounting and Finance is a 3-year full-time undergraduate course premised on the concept that accounting finds its ultimate expression in practice, and hence consequently seeks to develop application-oriented and problem solving, and analytical skills in candidates.
The discipline is directly relevant to the needs of the accounting profession, since Financial Accounting is a system whereby an entity’s financial information is gathered, accumulated, analysed, and presented in standard formats.
Every economic entity normally has a goal of value maximization for its stakeholders. Towards this, Financial Accounting reports provide benchmarks for assessing the role and efficiency of the management and Board of Directors of a firm.
These reports are generally published regularly and provide all the relevant information in a reliable and timely manner. The Annual Statements of companies, released during what is commonly known as the results season, often provide a guide to the future course and direction of equity markets.
The Cash Flow Statement deals with the inflow and outflow of cash and cash equivalents from the business. This statement breaks down this analysis into operating activities, money investing activities and various financial activities. The most important use of this statement is that it is a barometer of the short-term viability of a company, especially its ability to pay bills.
The average annual course fee in India ranges between INR 2,000 and 4 lacs, depending upon the institute offering the course. The average annual salary offered in India to successful postgraduates of the course ranges between INR 1 and 10 lacs, depending upon the candidate’s expertise in the field.
Given below are some of the major highlights of the course.
|Examination Type||Semester System|
|Admission Process||Counselling after taking entrance examination|
|Course Fee||INR 2,000 to 4 lacs|
|Average Starting Salary||INR 1 to 10 lacs|
Accounting is both the process of keeping record of financial transactions for the benefit of stakeholders, and an activity central to fund-management. Successful graduates of Accounting and Finance are lucratively employed in public sector banks, corporate banks, the insurance sector, loan and finance-based companies, trading, stock market, chartered and cost accountancy, and such.
The course essentially aims to familiarize enrolled students with fundamental and advanced concepts in the field, and other allied areas such as financial planning, macroeconomics, economic theory, etc.
The program also aims to develop analytical skills in students in areas such as resource management, marketing, commerce, portfolio management, and other financial sectors.
Some of the top institutes offering the course in the country with the corresponding locations and fees charged by the respective colleges are listed below.
|COLLEGE NAME||CITY||AVERAGE ANNUAL FEES|
|Lovely professional university||Delhi||INR 3,95,000|
|Lovely professional university||Jalandhar||INR 2,37,000|
|Bharath university||Chennai||INR 1,50,000|
|Mahatma jyoti rao phoole university||Jaipur||INR 60,000|
|Hemwati nandan bahuguna garhwal university||Uttarkhand||INR 3,750|
|J.D. Birla university||Kolkata||INR 3,17,000|
|School of management studies||Lucknow||INR 75,000|
|Sankara college of science and commerce||Coimbatore||INR 45,000|
|ATM global business school||Delhi||INR 2,90,000|
|S.S.V. college||Ghaziabad||INR 2,961|
|SIET institute of management||Mysore||INR 42,000|
|Maharani kasiswari college||Kolkata||INR 2,265|
|Vagdevi degree and PG college||Warangal||INR 43,000|
As a minimum criterion of eligibility, candidates seeking admission to the course need to have completed the 10+2 or equivalent level of education in the Commerce stream, with Accounts, Math and Economics as main subjects, and a minimum aggregate score of 50%.
The admission process for the course is varied, as various institutes have their very own criteria and processes of admission. Admission to the course is often based on the candidate’s obtained merit at the 10+2 level, and sometimes, on the candidate’s performance in a relevant entrance exam, followed by a round of counselling, based on performance in which, students are admitted.
A year-wise breakup of the course’s syllabus is tabulated below.
|Accounting for managerial decisions|
The private sector, markets research, public accounting firms, budget planning, consultancies etc. recruit such graduates, while the latter may also work independently by taking assignments from small ventures for maintaining their accounts on daily or weekly basis.
Some of the popular professional avenues open to such graduates are listed below with the corresponding salaries offered for the respective positions.
|JOB POSITION||JOB DESCRIPTION||AVERAGE ANNUAL SALARY|
|Accounts Assistant||Accounts Assistants provide administrative support to accountants. They perform clerical tasks such as typing, filing, making phone calls, handling mail, and basic bookkeeping. They help the manager and also deal with customers and external agencies.||INR 1,85,000|
|Business Analyst||They develop technical solutions to business problems, to advance a company's sales efforts, beginning with defining, analysing, documenting, and eliciting requirements of an organization.||INR 5,84,000|
|Finance Manager||Their typical duties include reviewing financial reports, monitoring accounts, maintaining reports, and preparing activity reports and financial forecasts. They also investigate ways to improve profitability, and analyse markets for business opportunities, such as expansion, mergers or acquisitions.||INR 9,56,000|
|Cashier||Cashiers work in organizations such as banks, schools, shops etc. that deal with cash transactions. Their responsibilities include maintenance of accuracy, and interaction with customers on a daily basis for solving queries, handling money etc.||INR 1,77,000|
|Investment Analyst||Investment Analysts provide stockbrokers, managers and stock market traders with financial information, and recommendations derived from global investment data.||INR 5,28,000|