Learning is a never-ending activity. Just like the sun which never stops shining, so is the knowledge which continues to outshine the darkness.

Whether it is an accountancy school student or a graduate pursuing his master’s, the search for best accounting classes is always on. Accountants are in high demand, both in the public as well as in the private sector.

With great updates and progress in the science of accounting, even the working professionals find it optimistic to take accounting classes in India. Sometimes, this is to develop an understanding of already studied concepts and sometimes they simply want to strengthen their technical skills in related streams or explore newer concepts.

Accounting aspirants and professionals opt for different methods to enhance their knowledge. They look forward to taking private tuitions, coaching classes, enrolling in some degree courses, online certification programs, an internship under some working professional, certifications to earn the title for chartered professionals and many others. With the estimated increase in smartphone users to 3.8 billion in 2021 and the rising number of internet users in India, demand for online accounting resources can also be expected to rise.

Increase in Internet consumption in India
Data showing an increase in internet usage in India in the past few years. Source: timesofindia.indiatimes.com

Increasing Awareness For Accounting In India

The Government of India (GOI) is proactively taking strategic and concrete steps to increase the business activities in India. The “Make in India” policy powered by the “Digital India” campaign and “One Nation, One tax-GST” scheme is attracting investments from foreign soils. This has bolstered the demand for strong and ethical accounting processes in the nation. There are many factors strengthening the importance of accounting in India.

Promising Career Option

Apart from the career options in medical, engineering, journalism, acting, etc. accounting provides lucrative career opportunities to its pursuers. There is a strong demand for accounting experts with specializations in many of its branches-

  • Taxation- Ensuring strict compliance with the taxation policy of the government rules and regulations. 
  • Financial analysis- Creating financial reports and prospecting the cash flow, the company’s financial health for better decision making.
  • Cost accounting- Identifying and reporting costs to the company’s management to increase profitability.
  • Forensic accounting- Monitoring and tracking fraudulent accounting activities.
  • Fiduciary accounting- Managing the assets and liabilities occurring due to the ownership of properties.
  • Auditing- Checking for the authenticity of the recorded transactions and subsequent financial reporting.
  • Management accounting- Accounting for managing business operations and financially streamlining the management of business activities.

Educational Centers

A number of educational centres have been established in India to impart professional and degree courses in accountancy and its related streams. Many national and state universities, degree colleges, private colleges and professional institutes of high repute are honing up the young talent in India. Some renowned institutes are-

  • Loyola College, Chennai
  • Christ University, Bangalore
  • Narsee Monjee College of Commerce and Economics, Mumbai
  • St. Xavier’s College, Kolkata
  • Symbiosis College of Arts and Commerce, Pune
  • HR College of Commerce and Economics, Mumbai
  • HL College of Commerce, Ahmedabad
  • Shri Ram College of Commerce, New Delhi
  • Lady Shri ram College For Women, New Delhi
  • Hindu College, New Delhi
  • Avadh Girls Degree College, Lucknow
  • Reputed business schools such as the Indian Institute of Management, (all over India) 

Besides these, there are several professional and certification courses offered by different organizations for expertise in various branches of finance and accounting. These organizations are-

  • Reserve Bank of India (RBI)
  • Securities Exchange Board of India (SEBI)
  • The Institute of Chartered Accountants of India (ICAI)
  • The Institute of Cost and Work Accountants of India (ICWAI)
  • The Institute of Company Secretaries of India (ICSI)
RBI India
The Reserve Bank of India building in Kolkata. Source: swarajyamag.com

Public Awareness

With the growing awareness regarding the role played by accounting in our daily life, people are finding it better to skill themselves in accounting. Some doctors, engineers, students, politicians, etc. are seeking to attain financial independence. This is because they do not want to blindly rely upon their hired accountants to audit their transactions and prepare required reports.

Moreover, governments across the world have been frequently modifying business clauses such as taxations, subsidies, etc. Also, the businesses rely heavily upon the geopolitical scenarios which impact international trade and commerce. Hence, each individual wants to develop an understanding of basic accounting concepts and principles of its applications. 

Find different professional courses in finance and accounting here.

Websites For Accounting Resources

Although various resources such as books, coaching lecture modules, etc. are available to gain insight into accounting knowledge, online access is becoming increasingly accepted. There are various websites offering a vast amount of accounting resources. Some commonly used websites by the users are-

  • Investopedia- With billions of users across the world Investopedia is a storehouse of a wide array of information, concepts and definitions of the terminologies related to finance, accounts and commerce.
  • ICAEW- Accounting aspirants can access various articles, PDF books and guidelines related to accounting policies for successfully running a business in India. It provides resources for clearing many financial certification examinations.
  • Coursera- It is an American massive open online course platform that offers various courses in finance, accounting, taxation, etc. in the form of video lectures, PDF notes, quizzes and assignments. It also awards a certificate upon the successful completion of a course.
Online learning tool
Online resources are gaining popularity to enhance learning. Source:franchiseindia.com
  • Indian Accounting- It is a confederation of all the accounting professionals, academicians and practitioners from both the private and public sectors of the industry. It promotes research activities and dissemination of information through conferences and journals. Additionally, it also provides information regarding various professional bodies and promotes competition through the national accounting talent search examination.
  • Corporate Finance Institute- It provides free online courses in fundamentals of accounting and financial statements like balance sheet, income statement, cash flow statement, etc. The participants get the liberty to learn at a self-paced continuity.
  • ACCA Global- This web portal provides online resources to prepare and qualify for ACCA certifications. It also facilitates to connect with ACCA qualified professionals.
  • Udemy- Is very much like Coursera that provides free online accounting courses as well as certification in the best accounting courses such as accounting finance, financial accounting to reinforce the accounting fundamentals.
  • KPMG- KPMG offers several industry-friendly online accounting courses for professionals in advisory and consulting domains with regards to international financial standards.
  • AAT- Offers online AAT (Association of Accounting Technicians) level preparation guidelines and course material. Professionals clearing AAT examination hold a higher probability of securing well paid and reputed job profiles in the London United Kingdom. 

With the rising number of smartphone users, easy data connectivity and best accounting courses, the number of people having access to online resources will also increase.

Financial Accounting Classes

Financial accounting lays the foundation for a business to decide its course of action in the near future. Financial accounting consists of the following set of statements-

  • An income statement also known as profit and loss statement is extremely crucial in assessing the profitability of the business activities in the stipulated time period.
  • Cash flow statements help in analyzing the flow of cash in the business and outside the business and assess the time value of money across the defined timeline.
  • A balance sheet acts as a meter that predicts the financial health of the enterprise. It details the asset and liability of the firm.
Financial accounting
Going through the key components of financial accounting is important. Source: corporatefinanceinstitute.com

Thus, learning financial accounting is crucial to have an overall knowledge of the financial functioning of the firm. It helps the accountants to play a guide to steer the firm out from any financial complications and unfavourable circumstances.

Hence, it becomes imperative for accounting professionals to develop a sound understanding of the same. They tend to pursue financial accounting classes to stay ahead in the competitive world of accounting. Because of the growth and demand for digitization, professionals are also developing and implementing online platforms for financial analysis, reporting and auditing.

Professionals such as Chartered Accountants and Chartered Financial Analysts are taking the lead in steering the financial accounting to the higher realms of implementation.

Quest To Find Accounting Classes Resolved

Although there are a number of resources available to learn accounting, nothing can downplay the importance of student-teacher interaction. There are a number of books available on different topics such as taxation, fundamentals of accounting, cost management, etc. both online and offline. Also, several online video lectures and free courses have been created and hosted by different MOOC platforms. Accounting case studies, research papers and journals are made available to enhance the accounting prowess of the aspirants.

However, to understand all these, it requires a tutor to guide the students and make them understand the concepts and the right application of these concepts in the day to day business problems. Superprof solves the query of most of the accounting students who tend to have a question- “Where to find the best accounting classes near me?”

Superpof connects students with their favourite tutor with ease and simplicity. By entering their subject and area in which they want to find a tutor for the mentioned subject, students get to view the profiles of all the tutors available in the area.

Moreover, they can choose any of them by viewing their profile and take a free demo class to finalize the best-suited tutor. It is up to the discretion of both the student and teacher whether to conduct the classes online or in a personal meeting at some place. Also, there are no hidden charges in the entire hunt for the best tutor and a happy learning experience.

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Anurag

Graduated but my love for writing is in no mood of taking any pause. I work with a team of excellent and highly experienced content writers. Also, love to play football and have a special love for tech stuff and gadgets.