M.Com is a two year course, minimum eligibility for which is a B.Com degree. Accounting is essentially the communication process through which financial information is passed to its users such as shareholders.
The final selection will be based on the test score, academic profile and interview. The mode of admission is through an Entrance Examination and tests carried out by different universities.
Top Institutes offering M.Com (Accountancy) are:
The average tuition fee for this course ranges between INR 1 Lakh to 4 Lakhs for full course.
M.Com in Accountancy degree holders can apply for jobs in various companies.
Some of those companies are Genpact, Tata Consultancy Services Limited, WNS Global Services, Wipro Technologies Ltd., Tata Motors, Bharat Sanchar Nigam Limited (BSNL), National Small Industries Corporation Limited (NSIC), Heavy Engineering Corporation Limited (HEC Ltd). They can work in these companies as Chief Accounting Officer, Accounting Firm Partner, Finance Director, Audit Manager.
The average minimum salary of a graduate who has completed this course is around INR 650,000 to 12, 00,000.
|Course Level||Post Graduate|
|Examination Type||Semester System|
|Eligibility||Bachelor's degree with commerce subjects such as accounts, maths and economics|
|Admission Process||Based on counselling after clearing Entrance Tests|
|Course Fee||INR 1 to 4 Lakh p.a.|
|Average Starting salary||INR 4 Lakh to 20 Lakh p.a.|
|Top recruiting companies||Genpact, TATA CONSULTANCY SERVICES LIMITED, WNS Global Services, Wipro Technologies Ltd., Tata Motors, Bharat Sanchar Nigam Limited (BSNL), National Small Industries Corporation Limited (NSIC), Heavy Engineering Corporation Limited (HEC Ltd)|
Accountancy or accounting is the art of presenting financial information of any business organization to users such as shareholders and managers, which is generally in the form of financial statements.
In common words, we know accountancy as the primary and most sought after subject in the department of commerce. Students having qualification in this field have very good knowledge of monetary matters and are generally termed as accountants.
The study of accountancy also includes auditing and financial statements. The shareholders and investors need to know the truth about a company’s financial state and that is why the job of an accountant matters the most.
Accounting is the process of analyzing, verifying and reporting the results of financial information to an organization, government agency or individual.
Some of the most popular fields include:
|Name of Institute||City||Fees|
|K. P. B Hinduja College of Commerce||Mumbai||INR 7,000|
|Annamalai University||Tamil Nadu||INR 20,000-50,000|
|Acharya Nagarjuna University, Guntur||Guntur||INR 10,000|
|Bharathiyar University||Coimbatore||INR 10,000|
|Arignar Anna Government Arts and Science College||Puducherry||INR 25,000|
|Mohanlal Sukhadia University||Udaipur||INR 20,000|
|Jiwaji University||Gwalior||INR 10,000|
To pursue M.Com in Accountancy degree the candidate is required to have bachelor’s degree with commerce subjects like accounts, maths and economics.
Also the candidate should have completed B.A. / B.com / BBS or any other related degree with regular tenure and securing minimum 50% of marks in aggregate.
There are numbers of reputed colleges offering undergraduate and post graduate degree courses in commerce. Also, there are private institutions which offer specialization in accounting courses and also correspondence courses.
Admission to the postgraduate courses in accounting will be carried out on the basis of entrance exam. Admission process of every University/institution is different. Many Universities/colleges conduct their own entrance exam for providing admission. You can fill the application form of the college/university in which you are interested.
List of Entrance Exams in M.Com
|Semester I||Semester II|
|Management Principles & Practices||Organizational Behaviour|
|Business Environment||Research Methodology|
|Advanced Financial Accounting||Financial Management|
|Statistical Analysis||Accounting for Managerial Decisions|
|Semester III||Semester IV|
|Management of Cost Accounting||Indian Financial System|
|Corporate Accounting||Institutional Accounting|
|Investment Management||Strategic Financial Management|
|Income Tax Law and Practices||Indirect Taxes|
|-||Project and Viva-voce|
A graduate after completion of his/her course can initially join as a trainee or an accountant. Accountants can also seek employment in various sectors such as in government and private sectors, public accounting firms, markets research, budget planning, corporations and consultancies.
Professionals in this career can also opt for teaching jobs in universities and colleges. Graduate professionals can work as freelancers in this field. There are lots of job opportunities available in India as well as in foreign countries for chartered accountants.
There are lots of job opportunities in Private and Public sector. You can also apply for government sector jobs or can work in the corporate world.
Students can work as a teacher/lecturer in different colleges & universities. You have to clear the requisite exams such as UGC NET/JRF, etc.
One can also join government & private banks such as State Bank of India (SBI), Punjab National Bank (PNB), and Axis Bank, HDFC Bank, Union Bank of India etc as Customer Relationship Executive & Probationary Officer.
Some of the popular professional avenues open to such graduates are listed below with the corresponding salaries offered for the respective positions.
|Job Profile||Description||Average Annual Pay Scale in INR|
|Accounting Clerk||Perform accounting and clerical functions to support supervisors. Record business transactions and key daily worksheets to the general ledger system. Work with adding machines, calculators, databases and bank accounts.||207,756|
|Auditing Clerk||Auditing clerks work in conjunction with accounting and bookkeeping clerks in order to manage accurate financial records for large and small businesses. Auditing clerks are responsible for verifying the accuracy of financial records and catching mistakes made by other clerks or employees.||2.5 Lakh|
|Accounting Associate||Assist accountants and auditors with bookkeeping, clerical duties, and managing accounts. Resolve outstanding payments through communication with departments, vendors, and clients. Process, record, and pay invoices, bills, and other transactions.||230,410|
|Directors (Accounts)||The Account Director is the person to whom the account supervisor and account executives look for support, guidance, and counsel. Responsibilities: Overall growth and development of accounts in his group.||5 to 19 Lakh|
|Accountant||Major responsibility is to prepare the account entries by compiling and analysing account information. Documents financial transactions by entering account information. Recommends financial actions by analysing accounting options.||234,080|
|Accounts Receivable Clerk.||Posts customer payments by recording cash, checks, and credit card transactions. Posts revenues by verifying and entering transactions form lock box and local deposits. Updates receivables by totaling unpaid invoices. Maintains records by microfilming invoices, debits, and credits.||238,941|
|Bookkeeper||Bookkeeper has a duty of establishing account chart of financial transaction by developing a system. Other duty is to define the policies and procedures of bookkeeping. All the subsidiary accounts are maintained by allocating, verifying and posting of transactions. Reconciling entries are balanced for subsidiary accounts.||455,286|
|Chief Accounting Officer||Chief Accounting officer has a duty of entire accounts department of their organisation. They show responsibility for accounting operations and reporting of finance functions. Accounting and administrative staff is overseen.||3,335,902|
|Accounting Firm Partner||Accounting firm partner is very professionally trained in his job for the application of his knowledge in auditing and accounting to estimate the status of the organization in the financial terms. He helps in the transparent reflection of the transactions which eventually helps the organization to build up their reputation.||1,250,000|
|Audit Manager||Audit manager is a manager who is responsible for overseeing and organising the audits of company internally with respect to the audit plan annually and also he manages the team of auditors.||1,030,433|
|Forensic Accounting||This profession has duties of investigation, auditing to analyse the statements of finance to investigate the fraud. Forensic accountants possessed the specialised skills of accounting.||400,000|