In India, the traditional idea of an accountant pictured a middle-aged man wearing spectacle and carrying a book of ledgers. Times have changed, and the job role and persona of accountants in the country are different now. Young boys and girls who have a natural inclination towards solving problems and crunching numbers opt for accountants jobs. If you too share the same area of interests in academics, try finding the job title that best suits your skills and likability.
The job description of accounting in India has evolved to a great extent. The introducing of various software and web tools has lessened the work effort and time consumption. The reason why companies feel obliged to pay a handsome salary to the accountants is that they build the financial foundation of the firm.
Every professional in this arena performs a specific task and stands as a pillar of support to the business. You should know how long it will take and how much hard work you need to put in, to justify the title given to you.
Course Duration Of Accounting In India
Accounting in India is a vast career field that has numerous classifications. Chartered accounts, cost accountants, company secretaries, etc. are the different course out of which you need to make a choice. The government of India has authorised national organisations for each accounting job title to conduct exams and placements.
All these institutes are reliable for publishing the rules and regulation of the exams. Depending on your career choice, you must enrol your name in the institutes and then appear for the scheduled examinations accordingly.
Institute Of Chartered Accountants Of India
Chartered accountant course in India is facilitated by the Institute of Chartered Accountants of India (ICAI). The entire course duration is roughly 4.5 to 5 years, with three levels. You can pursue this programme after completing your higher secondary examination.
Meanwhile, you will also need to pursue a bachelor degree in B.Com from a renowned university in the country. It is important because to be eligible for the Intermediate level of the CA programme, you need to be a graduate.
However, for completing the course within 5 years, you need to clear each paper of all the three levels in the first attempt. Numerous students fail to cope up with the difficulty level of the exams as some of the papers also include negative marking. Nonetheless, it is not impossible to crack all you need to do is not fall out.
Institute Of Cost Accountants Of India
Just like the CA course, the Cost Management Accountant course duration is also 4.5 to 5 years. The Institute of Cost Accountants in India offers the certification of this course. In the case of cost accounting, students often get confused between the terms ICWAI, CMA, ICWA, etc.
All these terms are associated with cost accounting courses, but partially. The ICAI was formerly known as ICWAI (The Institute of Cost & Works Accountants of India) while the course was named ICWA which we term as CMA (Cost Management Accountant) now.
The cost management accountant certificate is one of the toughest professional degrees to acquire in India. The three levels are the Foundation, Intermediate and Final. You will need to clear each paper of these levels to complete the course.
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National Institute of Financial Management
If becoming a finance accountant is what you always wanted to do, you need to enrol yourself in the National Institute of Financial Management. The organisation offers around five courses, including two types of Post Graduate Diploma in Management, Fellow Programme in Management (FPM), etc. You can choose any of the programmes depending upon your eligibility and the job title that interest you.
Indian Institute of Company Secretaries of India
Company Secretary (CS) course duration is 3 years in India. The Indian Institute of Company Secretaries of India (IICSI) facilitates the CS programme. The course includes three levels, and each of them spans for 1 year. It is often said and believed that the CS course is comparatively easier than the CA and CMA courses. After completing the exam, you will need to do certain training programmes to gain industry knowledge. This will take another 1.5 to 2 years.
Apart from the aforementioned institutes that offer direct degrees, there is no shortcut to some of the other renowned accounting degrees. Like, CFO (Chief Finance Officer) and Finance Directors are the upper-level posts that you will reach only after getting promotions and experience. The industry forces and mechanisms will guide you in this arena.
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Benefits of Accounting Jobs Online
The accounting services India can now be offered through online platforms. Chartered accountants India can manage the financial reporting standard using accounting software. Yes, you do not need to be physically present in the office to serve your employer. The advancement of technology enables easy coordination and access. The Indian Accounting Standards (Ind AS) also set the terms of financial statements of companies in a way that is commonly accepted in the world. So, you can also serve in international markets without having to leave your country.
There are several benefits to providing online accounting services.
- You will save a lot of time doing accounting jobs online. Since there is no need to commute to the office regularly, you will save the time you would have spent travelling. You can sit at the comfort of your home and perform your duties as per the predefined time. However, most of the companies do apply a pay deduction as the travelling allowance is not included in the package in this case.
- Enjoy the comfort of your home as well as working alone without the pressure of slipping into the corporate atmosphere. This may also have a positive impact on your performance and efficiency as many professionals complain of succumbing under the competitiveness. You will enjoy the sense of independence that online jobs offer.
- If working under a defined organisation is not what you prefer, you can also opt for freelancing. Accountants can easily work as freelancers given many small companies require one-time service instead of full-time workers. You can work on profit-loss analysis and payroll processing management projects and earn a significant amount of money.
- You can try online tutoring by joining the e-learning platforms. Completing an accounting course does not mean you have to provide your service in the corporate sector. There are so many subjects in the various accounting courses that you will not have to think about getting the audience. Also, lakhs of students appear on different platforms like ICAI, IICSI, etc.
If you choose the right platform like Superprof, there is no need to worry about networking. Your profile will get you plenty of students as Superprof connects online users all over the country. Just register on the website and stay active to start your online tutoring business.'
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Time Management For Accountants In India
Time management is one of the most important attributes that an accountant needs to possess. This is not only applicable after you secure a job but also before it. If you read the success stories of accountants in India, the one common thing in all would be studying late hours. This is because almost all the accounting courses involve huge syllabus and vast concepts, while the paper only holds 100 marks each. So, you will never know which chapters are most likely to come. Therefore, try to manage your tasks effectively and make as much time as you can for preparing for your desired accounting degree.
Salary Of An Accountant In India
The most desirable output of an accounting job is the paycheck that it offers. While most professions need you to grind for years to earn a good fortune, you will start your career with a hefty package in the accounting field. The average salary of an accountant in India is between 3 and 5 lakhs.
Chartered accountants start with 7-8 lakhs annual package while the cost accountants get 8-10 lakhs. This amount may differ as per the company standards and norms. Nonetheless, the average earning of a fresher accountant is pretty high! You must focus on improving your communication skills and soft skills to enhance your efficiency for a job role. How much you make out of your job highly depends upon your productive capabilities apart from the degree that you acquire.
You will need to spend 4-5 years of your life after schooling to build a career as an accountant. The difficulty level of most of the exams is high, but that does not mean you cannot qualify them. Study dedicatedly with utmost concentration and patience. Even if you fall, do not give up! Remember, failure is never the end of the line. Stay focused on your goal until you achieve it. Your passion and determination for becoming an accountant will get you through all the levels of your accounting course.
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