Accounting is the language of business. -Warren Buffett
The Silicon Valley of India or the city of Bangalore is a techno-commercial hub in Karnataka. Innovations in Information and Communication Technology, the birth of start-ups, entrepreneurs have become synonymous with the city. Hence, the need for accounting and consequent demand for qualified and sharp accountants is rising. To cater to this demand, the need for effective accounting classes in Bangalore is being realized amongst the aspirants of accounting.
As per the Ministry of Human Resource and Development (MHRD), the number of aspirants seeking knowledge from B.Com accounting classes and related subjects rose from 2.36 million in 2011-12 to 3.42 million in 2015-16 in India at an undergraduate level through regular courses. This was the time when new and existing ventures experienced a major boom.
Industry Oriented Accounting Courses
Accounting plays a pivotal role in the success of any business enterprise. None of them could sustain in absence of a proficient workforce, document management, robust ICT infrastructure, legal compliances and most important of all vigilant and transparent accounts and finance verticals.
Various functions such as corporate governance, foreign currency exchange, international and domestic trade laws, due diligence, mergers, amalgamations, acquisitions, insolvency proceedings, taxations, payroll accounting, goods service tax, etc. are involved at different levels in different organizations. This has called for the development of job friendly and industry-oriented accounting courses for preparing industry-ready and confident candidates.
Types Of Courses Offered To The Accounting Aspirants
Commerce is a dynamic subject offering study of business operations, trade modalities, money transactions and accounting practices as per the laws of the land. Thus, accounting cannot be a lonely topic of study. Because of the lucrative job opportunities available in this domain, there are various diploma, graduation, post-graduation and professional courses offered to the students. They may pursue these courses to learn and get qualified as per their potential and aspirations.
Bachelor of Commerce (B.Com)
B.Com is a graduation degree course spanning for over 3 years subdivided into 6 semesters, with a total of 2 semesters in each year. The minimum qualification to get enrolled for this course is a minimum percentage of pass marks in 10th and 12th board examinations from a recognized board and merit-based on individual entrance examination if any (such as CUET, JET, AUMAT, DSAT) conducted by the concerned institutions.
B.Com is offered with specialization or accountancy courses like Accounts, Finance, Taxation, Chartered Accountancy, Supply Chain & Logistics, Travel & Tourism, International Finance and Accounts, Risk Management. B.Com is a specialized graduation course that helps the student to develop specialized knowledge in Banking, Economics, Investment Banking, Insurance, taxation, Law and Marketing.
Master of Commerce (M.Com)
Post successful completion of B.Com, individuals can pursue post-graduation course of 2 years from different institutes in Bangalore. Some topics of specializations are International Business, Accounts and Finance, Taxation, Financial Analysis, Marketing, Banking and Insurance Management.
Certifications and Diploma Courses
Besides regular courses such as B.Com and M.Com, there are various certifications and diploma courses in the accounting domain. Some of these earns you a professional certification, thereby, certifying you as a qualified accountant, auditor or controller. The course duration varies for each of these courses with respect to the subjects as discussed above for B.Com and M.Com opted for specialization.
Some of the most popular courses are-
- Financial Modelling
- Certified Public Accountant (CPA)
- International Financial Reporting Standard (IFRS)
- Association of Chartered Certified Accountant (ACCA)
- Certified Management Accountant (CMA)
- Certified Program in Financial Accounting (CPFA)
- Certified ERP Professional
- Chartered Accountant (CA)
- Company Secretary (CS)
- Cost Accounting
Renowned Institutes Offering Accounting Courses
Bangalore is a metro city that has shaped the destiny of individuals, their ventures and has contributed immensely towards the technological, educational and commercial spectrum of India’s growth trajectory. The city hosts some of the most reputed, knowledge serving educational institutes who, with their sheer dedication, have contributed to the talent development of our human resource. You can enrol in any of these as per the choice of courses you want to pursue-
- Christ College
- Jain University
- Mount Carmel College
- M.S. Ramaiah College of Arts, Science and Commerce
- Government Arts College
- St. Joseph’s College of Commerce
- REVA College
- Presidency College
- Maharani Lakshmi Ammanni College for Women
- Chartered Institute of Management Accountants
- Tally Institute of Learning
- IIFCA Institute of Finance and Computer Accounting
World Acclaimed Business Schools In Bangalore
Business drives the economy and supports the progression of society on the pillars of globalization, privatization and liberalization. Hence, many business schools have been serving to sharpen the managerial skills along with the financial, accounting and analytical acumen of the aspirants who want to make it a high in their professional life. They offer promising lifetime opportunities and their teaching is based upon existing trends in the national and the international markets through case studies, field visits and internships in leading organizations across the globe. Prominent business schools are-
- Indian Institute of Management, Bangalore (IIM-B): Launched in 1973, has been meticulously imparting upgraded education in Business Laws, Corporate Finance, Operations Management, Financial Reporting and Analysis, Cost Management and Microeconomics as core compulsory subjects in its first year of MBA program.
- T A Pai Management Institute: Founded in 1908, is a leading business school offering training and education in different related domains of accounting during its 2 year PGDM- MBA courses besides other doctoral and executive courses.
- IFIM Business School: Offers leading education in the financing, digital business and analytics.
- Symbiosis Institute of Business Management: Imparts education in accounting with a major focus on the implementation of data analytics techniques.
- Narsee Monjee Institute of Management Sciences: Is an institute of high repute offering world-class management accounting education.
Flourishing Interest In Accounting Online
Businesses today are no longer localized. They have one of their units functioning in one part of the city and the others in the remaining parts of the city and many times in different cities around the globe in case of multinationals like- Wipro, Deloitte, KPMG, E&Y, JLL, etc. Thus, there exists a robust Information Technology infrastructure that encapsulates the entire business environment on a single digitized platform via the intranet facility.
This has also prompted the necessity of accounting online along with the other responsible factors as listed below-
- Accounting has not remained as simple as it was a few decades back. There are various financial statements- journal, ledger, P&L sheet, taxation reports, Balance sheets, cash flow statements, budget planning, etc. required by various auditing agencies- Securities and Exchange Board of India, Income Tax and Excise Commissionerate along with other regulatory bodies.
- Because of complex accounting procedures, different job roles are required. Some of these include Auditor, Tax Consultant, Stock Broker, Sales Analyst, Insurance Consultant, Financial Consultant, Credit officer, Hedge Fund Manager, Asset Manager, Investment Broker, teachers/lecturers and many more.
- Because of the multitude of job functions and the wide expanse of the business, online collaboration is required so that information is available right at the click of our mouse over our laptop or desktop. This saves time for travel and transportation of financial documents via courier, speed post or in person.
- Companies instead of hiring permanent employees for temporary accounting job roles, contract various legal and accounting consulting firms to help them prepare necessary documentation and reports for a fixed duration of time.
- Recent Coronavirus outbreak has necessitated the need for physical distancing. But businesses can’t survive in social isolation. Hence, online tools supported by Artificial Intelligence (AI), cloud computing and internet technology are gearing up and gradually becoming an integral part of business activities.
- Accounting software such as tally ERP, GST portals can be used to transform available data in compliance with the guidelines issued by the regulating bodies and make it easy, concise and logically coherent for fair and transparent understanding by expediting the work with accuracy and providing authenticated access only to the authorised persons to maintain secured channels of communication.
- Both the Central and the state government are shifting their entire procedures online, such as the release of notice inviting tender, submission, bidding and award of tenders, approvals, digital payments and much more to make India a business-friendly destination.
Finding Online Accounting Classes In Bangalore?
To enhance the learning experience and maximize the assimilation of accounting concepts, residents of Bangalore are exploring online accounting classes. Being spread over an area of 709 sq km, residents find it difficult to commute from one end of the city to the other if their ideal tutor resides at the opposite end. Thus both the teacher and the student will find it practically difficult to travel. Most importantly, the traffic jams further diminish the thought of commuting and that too in the times of COVID outbreak.
Superprof facilitates the search for your favourite tutor. If you are staying in Kalyan Nagar, Bangalore you just need to enter your locality and tutor’s subject. Superprof will get you the access to the list of teachers along with their brief profile that highlights their experience and area of expertise.
You have a choice to opt for a free demo class and finalize your tutor. Post which it will be your choice depending upon the convenience of both the tutor and student to carry out classes online or in person. You can seek job training, soft skills, tally ERP, financial accounting training at a self-paced schedule in congruence with your instructor without having to waste time while travelling.
Check for a cost and management accounting course here.