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DGM Accounts and Finance

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

DGM Accounts & Finance manages financial operations, ensures compliance, and provides strategic financial insights. Key role in financial planning and reporting.

Average Salary

₹18,00,000

Growth

high

Satisfaction

medium

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Educational Requirements

Education Requirements for a DGM Accounts and Finance

A Deputy General Manager (DGM) in Accounts and Finance typically requires a strong educational foundation and professional certifications. Here's a detailed breakdown:

  • Bachelor's Degree:
    • A bachelor's degree in accounting, finance, economics, or a related field is essential. This provides the fundamental knowledge of financial principles and practices.
  • Master's Degree (Preferred):
    • Many employers prefer candidates with a Master's degree in Business Administration (MBA) with a specialization in Finance, or a Master's in Finance or Accounting. This advanced degree enhances analytical and strategic thinking skills.
  • Professional Certifications:
    • Chartered Accountant (CA): This is one of the most valued certifications in India for accounting professionals.
    • Certified Management Accountant (CMA): Globally recognized, it focuses on management accounting and financial management skills.
    • Chartered Financial Analyst (CFA): Useful if the role involves investment management and financial analysis.
  • Experience:
    • Significant experience in accounting and finance roles is crucial. Typically, 8-12 years of progressive experience, with some years in a managerial role, is expected.
  • Key Skills:
    • Strong analytical and problem-solving skills.
    • Excellent understanding of financial regulations and compliance.
    • Proficiency in accounting software and ERP systems.
    • Leadership and team management abilities.
    • Effective communication and presentation skills.
Study Path
Top Colleges

To pursue a career as a DGM in Accounts and Finance, obtaining a strong educational foundation from reputable institutions is crucial. Here are some of the top colleges in India for relevant courses:

  • For MBA in Finance:
    • Indian Institutes of Management (IIMs): IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Lucknow, IIM Kozhikode.
    • Faculty of Management Studies (FMS), Delhi University: Known for its strong finance program and high ROI.
    • Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai: Offers excellent finance-focused courses.
    • Indian Institute of Foreign Trade (IIFT), Delhi: Specializes in international business and finance.
  • For Chartered Accountancy (CA):
    • Coaching Institutes: Numerous private coaching centers across India like JK Shah Classes, Vsmart Academy, and ICAI branches.
  • For Other Finance Courses:
    • Narsee Monjee College of Commerce & Economics, Mumbai: Renowned for its B.Com and M.Com programs.
    • Shri Ram College of Commerce (SRCC), Delhi University: Highly regarded for its economics and commerce programs.
    • Loyola College, Chennai: Offers strong undergraduate and postgraduate programs in commerce and economics.

These institutions provide a strong foundation in accounting, finance, and management, which are essential for a successful career as a DGM in Accounts and Finance.

Fees

The fees for courses and certifications required to become a DGM in Accounts and Finance can vary widely depending on the type of institution and the specific program. Here’s a general overview:

  • Chartered Accountancy (CA):
    • Coaching Fees: ₹30,000 to ₹60,000 per level (Foundation, Intermediate, Final) at private coaching centers.
    • ICAI Registration & Exam Fees: Approximately ₹10,000 to ₹15,000 per level.
  • Certified Management Accountant (CMA):
    • Course Fees: ₹40,000 to ₹80,000 for coaching classes.
    • IMA Membership & Exam Fees: Approximately ₹60,000 to ₹1,00,000 for the entire program.
  • Chartered Financial Analyst (CFA):
    • Course Fees: ₹50,000 to ₹1,20,000 for coaching classes.
    • CFA Institute Registration & Exam Fees: Approximately ₹2,00,000 to ₹3,00,000 for all three levels.
  • MBA in Finance:
    • Government Colleges: ₹1,00,000 to ₹5,00,000 for the entire program.
    • Private Colleges: ₹5,00,000 to ₹25,00,000 for the entire program.

These figures are approximate and can vary. It's essential to check the latest fee structures from the respective institutions and coaching centers.

Related Exams

To advance your career towards becoming a DGM in Accounts and Finance, several exams and certifications can significantly enhance your credentials and expertise. Here’s a breakdown of key exams:

  • Chartered Accountancy (CA):
    • Description: The CA certification, offered by the Institute of Chartered Accountants of India (ICAI), is highly esteemed in India. It covers accounting, auditing, taxation, and corporate law.
    • Benefits: Essential for roles involving statutory compliance, auditing, and financial reporting.
  • Certified Management Accountant (CMA):
    • Description: The CMA certification, offered by the Institute of Management Accountants (IMA), focuses on management accounting and financial management skills.
    • Benefits: Enhances skills in cost management, budgeting, and strategic financial planning.
  • Chartered Financial Analyst (CFA):
    • Description: The CFA program, offered by the CFA Institute, is globally recognized and focuses on investment management and financial analysis.
    • Benefits: Ideal for roles involving investment decisions, portfolio management, and financial analysis.
  • Other Relevant Exams:
    • ACCA (Association of Chartered Certified Accountants): A global accounting qualification.
    • CPA (Certified Public Accountant): US-based accounting certification, useful for international accounting standards.

These exams not only validate your knowledge but also demonstrate your commitment to professional excellence, making you a more competitive candidate for senior roles like DGM Accounts and Finance.

Exam NameExam Date
Related Courses
Pros And Cons

Pros

  1. High earning potential and career growth.
  2. Opportunity to influence financial strategy.
  3. Intellectual stimulation from complex problem-solving.
  4. Enhanced job security due to specialized skills.
  5. Respect and recognition within the organization.
  6. Continuous learning and professional development.
  7. Exposure to diverse business operations.
  8. Opportunity to lead and mentor teams.

Cons

  1. High stress due to significant responsibilities.
  2. Long working hours, especially during audits.
  3. Constant pressure to meet financial targets.
  4. Risk of errors leading to financial losses.
  5. Keeping up with changing regulations is challenging.
  6. Ethical dilemmas may arise occasionally.
  7. Can be a desk-bound job with limited outdoor activity.
  8. Requires continuous professional development.