Accountant banner
a Accountant thumbnail
Accountant

Overview, Education, Careers Types, Skills, Career Path, Resources

Accountants manage financial records, prepare taxes, and ensure compliance. Key skills include accounting principles, auditing, and financial analysis.

Average Salary

₹4,00,000

Growth

medium

Satisfaction

medium

Home/Careers/business commerce and management/accountant
Educational Requirements

Education Requirements for Becoming an Accountant

To become a successful accountant in India, a specific educational path and skill set are generally required. Here’s a detailed breakdown:

  • 10+2 Education:
    • Complete your 10+2 (or equivalent) from a recognized board, preferably with commerce subjects like Accountancy, Business Studies, and Economics. A strong foundation in mathematics is also beneficial.
  • Bachelor's Degree:
    • A Bachelor's degree is essential. Common choices include:
      • B.Com (Bachelor of Commerce): This is the most direct and popular route, providing comprehensive knowledge of accounting principles, taxation, auditing, and corporate law.
      • BBA (Bachelor of Business Administration): With a specialization in Finance or Accounting, this degree offers a broader business perspective.
      • BA Economics: Provides a strong theoretical foundation in economics, which is valuable for understanding financial markets and economic trends.
  • Professional Certifications (Optional but Highly Recommended):
    • Chartered Accountancy (CA): Offered by the Institute of Chartered Accountants of India (ICAI), this is one of the most prestigious accounting certifications in India. It involves rigorous training, examinations, and practical experience.
    • Certified Management Accountant (CMA): Focuses on management accounting, financial planning, analysis, and decision-making.
    • Certified Public Accountant (CPA): Globally recognized certification, useful if you plan to work internationally or with multinational corporations.
  • Master's Degree (Optional but Beneficial):
    • M.Com (Master of Commerce): Provides advanced knowledge in accounting, finance, and related subjects.
    • MBA in Finance: Enhances your business acumen and opens doors to higher-level management positions.
  • Skills Required:
    • Technical Skills: Proficiency in accounting software (e.g., Tally, SAP), MS Excel, and data analysis tools.
    • Analytical Skills: Ability to analyze financial data, identify trends, and provide insights.
    • Attention to Detail: Accuracy is crucial in accounting.
    • Communication Skills: Ability to communicate financial information clearly and concisely.
    • Ethical Standards: Maintaining integrity and adhering to ethical guidelines is paramount.

By following this educational path and continuously updating your skills, you can build a successful and rewarding career as an accountant in India.

Study Path
Bytes

No Bytes found

Top Colleges

Top Colleges in India for Accountancy

Choosing the right college can significantly impact your career in accountancy. Here are some of the top colleges in India known for their excellent programs in accounting and finance:

  • Shri Ram College of Commerce (SRCC), Delhi:
    • Consistently ranked as one of the best commerce colleges in India.
    • Offers B.Com (Hons) and M.Com programs with a strong emphasis on accounting and finance.
  • Lady Shri Ram College (LSR), Delhi:
    • Another top-ranked college for commerce and economics.
    • Offers B.Com (Hons) and BA (Economics) programs.
  • Hindu College, Delhi:
    • Offers undergraduate and postgraduate programs in commerce and economics.
    • Known for its experienced faculty and rigorous academic environment.
  • Narsee Monjee College of Commerce & Economics, Mumbai:
    • A leading commerce college in Mumbai.
    • Offers B.Com, M.Com, and specialized programs in finance.
  • H.R. College of Commerce & Economics, Mumbai:
    • Another top commerce college in Mumbai.
    • Offers a wide range of programs including B.Com, M.Com, and BMS.
  • Loyola College, Chennai:
    • A well-reputed college in Chennai offering B.Com and M.Com programs.
    • Known for its strong industry connections and practical approach to learning.
  • Christ University, Bangalore:
    • Offers B.Com, M.Com, and MBA programs with a focus on finance and accounting.
    • Known for its modern infrastructure and industry-oriented curriculum.
  • Presidency College, Kolkata:
    • A historic college offering undergraduate and postgraduate programs in commerce and economics.
    • Known for its strong academic tradition and distinguished alumni.

These colleges provide a strong foundation in accounting principles, financial management, and related subjects, preparing students for successful careers in the field.

College NameAverage Fees
Fees

Fee Structure for Accountancy Courses in India

The cost of pursuing a career in accountancy in India can vary widely depending on the type of institution, course, and location. Here’s a general overview of the fee structures:

  • Bachelor's Degree (B.Com, BBA):
    • Government Colleges: ₹5,000 to ₹20,000 per year.
    • Private Colleges: ₹20,000 to ₹1,00,000 per year.
  • Master's Degree (M.Com, MBA Finance):
    • Government Colleges: ₹10,000 to ₹30,000 per year.
    • Private Colleges: ₹50,000 to ₹5,00,000 per year.
  • Chartered Accountancy (CA):
    • ICAI Registration Fee: Approximately ₹10,000 to ₹20,000 (one-time).
    • Exam Fees: ₹1,500 to ₹3,000 per paper, per attempt.
    • Coaching Classes: ₹20,000 to ₹50,000 per level (Foundation, Intermediate, Final).
  • Certified Management Accountant (CMA):
    • Registration Fee: Approximately ₹10,000 to ₹15,000.
    • Exam Fees: ₹2,000 to ₹4,000 per paper, per attempt.
    • Coaching Classes: ₹25,000 to ₹60,000 per level.
  • Additional Costs:
    • Study Materials: ₹5,000 to ₹10,000 per year.
    • Accommodation and Living Expenses: Vary based on location.

It's important to note that these are approximate figures and can vary. Always check the official websites of the respective institutions and professional bodies for the most accurate and up-to-date fee information.

Institution TypeAverage Fees
Related Exams

Exams for a Career in Accountancy

To excel in accountancy in India, several exams can help you gain recognition and expertise. Here’s a breakdown of key exams:

  • Chartered Accountancy (CA) Exams:
    • Conducted by the Institute of Chartered Accountants of India (ICAI), the CA program is divided into three levels:
      • CA Foundation: Entry-level exam for students who have completed their 10+2.
      • CA Intermediate: Exam after completing the Foundation or through direct entry for graduates/post-graduates.
      • CA Final: The final hurdle to becoming a certified Chartered Accountant.
    • These exams cover a wide range of subjects including accounting, auditing, law, taxation, and finance.
  • Certified Management Accountant (CMA) Exams:
    • Offered by the Institute of Cost Accountants of India (ICAI), the CMA program focuses on cost and management accounting.
    • The CMA program is divided into Foundation, Intermediate, and Final levels.
    • It covers subjects like cost accounting, financial management, and strategic management.
  • UGC NET (National Eligibility Test):
    • Conducted by the University Grants Commission (UGC), this exam is for those who wish to pursue a career in teaching or research in accounting or related fields.
    • Qualifying NET is essential for becoming an Assistant Professor in Indian universities and colleges.
  • Other Relevant Exams:
    • Certified Public Accountant (CPA): A globally recognized certification, useful if you plan to work internationally.
    • ACCA (Association of Chartered Certified Accountants): Another globally recognized accounting qualification.

Preparing for these exams requires dedication, consistent study, and a clear understanding of the subjects. Coaching classes, self-study, and mock tests are valuable resources to help you succeed.

Exam NameExam Date
Related Courses

Exams for a Career in Accountancy

To excel in accountancy in India, several exams can help you gain recognition and expertise. Here’s a breakdown of key exams:

  • Chartered Accountancy (CA) Exams:
    • Conducted by the Institute of Chartered Accountants of India (ICAI), the CA program is divided into three levels:
      • CA Foundation: Entry-level exam for students who have completed their 10+2.
      • CA Intermediate: Exam after completing the Foundation or through direct entry for graduates/post-graduates.
      • CA Final: The final hurdle to becoming a certified Chartered Accountant.
    • These exams cover a wide range of subjects including accounting, auditing, law, taxation, and finance.
  • Certified Management Accountant (CMA) Exams:
    • Offered by the Institute of Cost Accountants of India (ICAI), the CMA program focuses on cost and management accounting.
    • The CMA program is divided into Foundation, Intermediate, and Final levels.
    • It covers subjects like cost accounting, financial management, and strategic management.
  • UGC NET (National Eligibility Test):
    • Conducted by the University Grants Commission (UGC), this exam is for those who wish to pursue a career in teaching or research in accounting or related fields.
    • Qualifying NET is essential for becoming an Assistant Professor in Indian universities and colleges.
  • Other Relevant Exams:
    • Certified Public Accountant (CPA): A globally recognized certification, useful if you plan to work internationally.
    • ACCA (Association of Chartered Certified Accountants): Another globally recognized accounting qualification.

Preparing for these exams requires dedication, consistent study, and a clear understanding of the subjects. Coaching classes, self-study, and mock tests are valuable resources to help you succeed.

Course NameAverage Fee
Pros And Cons

Pros

  1. High demand for skilled professionals.
  2. Opportunities for career advancement.
  3. Competitive salary packages.
  4. Intellectual stimulation and problem-solving.
  5. Diverse career paths in various industries.
  6. Potential for entrepreneurship.
  7. Globally recognized qualifications.
  8. Job security and stability.
  9. Contribution to financial transparency.
  10. Continuous learning and development.

Cons

  1. High stress due to deadlines.
  2. Tedious and repetitive tasks.
  3. Constant pressure for accuracy.
  4. Long working hours during peak seasons.
  5. Risk of errors and liabilities.
  6. Keeping up with changing regulations.
  7. Ethical dilemmas and conflicts of interest.
  8. Competition for top positions.
  9. Sedentary work style.
  10. Potential for burnout.