Monday, 22 May 2017

B.Com Accountancy - Course of Calculation


Hi all,

 Here, I am going to share details of B.Com Accountancy.It is a  course, which remains always in demand because it is the backbone of every business entity. It has been considered as one of the respected profession in the world.


Duration - 3 years(Hons degree also available)

 Eligibility - 10+2 Pass (with commerce subject)

 Average fees - 12 K to 25 K for three years (Government aided colleges) may vary up to 60 k under private institutions for three years.



What is B.Com Accountancy is about?

 Bachelor of Commerce in Accountancy is an undergraduate commerce course.Accountancy is an art of expressing business and financial information.It is one of the ways through which the company implements to keep a track on its expenses as well as earnings. It estimates the economic activities of an organization and forwards this information to a investors, creditors, management and regulators.

 There are different types of accounting that includes financial accounting, management accounting, auditing and tax accounting.
Who should opt for B.Com Accountancy?

 The candidate who is strong in maths and ability to understand accounting procedure with analytical, interpersonal and good communication skills.They should have an aptitude for mathematics and  be able to analyze, interpret facts and figures quickly.

Admission

 There are many reputed colleges offering Undergraduate and Postgraduate degree courses in commerce.Also, there are private institutions which offers specialization in accounting courses.Admission process will be carried out on the basis of 12th standard marks or entrance exams conducted by the institutions.



Academic Options after B.Com Accountancy

 Unlike some industries, the learning does not stop once you have earned your accounting degree. If you want to progress in your career, you’ll need to plan on continuing education after earning your degree. But here’s the benefit, more education could actually be the key to higher status and increased pay.

After getting started as an entry-level accountant, you should look at what type of certifications you might want to earn. There are a few different accounting credentials, including the CMA (Certified Management Accountant), CPA (Certified Professional Accountant) and CFA (Chartered Financial Accountant). These credentials will all take a significant amount of time and effort to obtain, so it’s important to know what you are getting into ahead of time.

 Master’s Degree
  • M.Com Accountancy
  • M.Com Accounting & Finance
  • M.Com Accounting & Auditing
  • MBA Finance & Accounting
For advancement in studies, you can also pursue PhD and M.Phil in Accounting.



Job Profile

 The practitioners and professionals of accounting are known as Accountants. The certified professionals in these fields are known as Chartered Accountants.Qualified accountants in numerous countries are titled as certified public accountant (CPA). There are different positions available in this field. 
  • Finance Manager
  • Independent Worker
  • Financial Advisor
  • Financial Controller
  • Chief Financial Officer
  • Certified Public Accountant
  • Chartered Management Accountant
  • Book Keeper
  • Teacher
  • Banker


Employment Area

Every organization needs an Accountant that manage and maintains the financial records of the companies. It enables the organization to judge their success/failure and plan for the future. It has wide opportunities in both Public and Private Sectors.
  • Tax Sector
  • Auditing
  • Bank
  • Corporate Sectors
  • Financial Sectors
  • Educational Institutions
  • Real estate Sectors
  • Manufacturing & Marketing Sector

Pay scale

The average entry level salary of an Accountant ranges from 7 k to 18 k per month.After gaining much experience and knowledge one can get around Rs.20, 000 to Rs.25, 000 per month.
Pros and Cons of being an Accountant

Below are some pros and five cons of an accounting career that every  accountancy student needs to know before they choose their career path:

Pros

  • Lots of job opportunities - Almost every organization and business is in need of an accountant.  The number of jobs for accountants and auditors is projected to grow 13 percent through 2020, according to the Bureau of Labor Statistics.
  • It is a stable and growing job field.
  • Many different paths available - Hedge funds, Real estate, Taxes, Auditing, Valuation. There is a lot of roads to take.
  • High salary with job security.
  • Flexibility of choosing the boss and location of work-because every organization needs an accountant.
  • It can be interesting. Accountants spend a lot of timing figuring out how to solve problems.

 Cons
  • The education is ongoing- Needs the CPA/CMA/CFA certification. Not all accountants are CPAs, but CPAs usually have a higher salary. But, if you want to pass the notoriously difficult CPA exam, you will need to study hard and sacrifice your leisure time.
  • Depending on the position, the working hours and travel can be long.
  • Accounting can be stressful, starting with the seemingly endless deadlines. As a result, an accountant will find that a heavier workload will make it hard to balance competing daily work and life concerns.
Top colleges for B.Com Accounts -check this below link
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