A career in finance and accountancy is one of the prime objectives of commerce students. The students learn about business studies, economics in commerce stream, however, accountancy is the core of this stream. Moreover, a career in Accountancy and Finance is not limited to commerce students only; it can also be pursued by students with Science, Arts or Honours stream as well, who have interest in finance and accounts. The students need to develop their fundamental knowledge for pursuing a degree in Accountancy and Finance.
Career Scope in Finance and Accounts
A career in Accountancy and Finance is really promising as every other organisation whether it is private or public sector require Accountancy and Financial professionals/specialist. The demand is increasing in Insurance and Accountancy firms, Investment Banking Industry, Taxation and Law etc. There are various career options in this field such as –
- Chartered Accountant
- Financial Analyst
- Actuarial Scientist
- Income Tax Specialist
- Risk Analyst
- Economist and Forecasting
Let us have a look at courses that would be helpful in making a career in Finance and Accountancy –
1. Chartered Accountancy
Chartered Accountancy is the most sought-after course to make a career in finance and accounts after class 12. It is one of the professional courses that require continuous efforts from CA aspirants. The course is started by The Institute of Chartered Accountants of India (ICAI) under Chartered Accountant Act, 1949. The students who wish to pursue a career in Chartered Accountancy after class 12th can check here the levels, eligibility and career scope for this course.
CA Foundation Course – The first level of CA course is the foundation course and students can take admission right after their Class 12 qualification. The CA CPT exam is conducted twice a year i.e. in June and December for foundation course registered students.
CA Intermediate – After qualifying the CPT course, students can pursue the intermediate course. Moreover, students who have qualified bachelor degree in commerce with at least 55% are exempted from CPT exam i.e. they can directly take admission in CA IPCC. The IPC course exams are conducted twice a year i.e. in May and in November. The CA IPC qualified students can pursue next level of Chartered Accountancy.
CA Final – The students who have qualified in the Intermediate level exam of CA are eligible to pursue the CA final course. After qualifying the CA Final course, students are considered eligible Chartered Accountants and they can make a successful career in this field.
- Students who have qualified Class 10th and Class 12th from a State or National Education Board
- Students must have registered themselves for the CPT exam before the last registration dates as per June or December session
2. Cost and Management Accountant (CMA)
The Institute of Cost Management Accountants of India (ICMAI), earlier known as The Institute of Cost and Work Accountants of India (ICWAI) offers a course in Cost and Management Accounting at three levels i.e. CMA Foundation, CMA Intermediate and CMA Final courses. The eligible students can pursue the CMA course after qualifying each level.
Students who have passed Class 10th and Class 12th qualifying examination from National or State Board of Education as recognised by ICMAI.
3. Bachelor of Commerce (B.Com)
A degree in Bachelor of Commerce from a recognised Institute/College of State or Central University is most suitable for students who want to begin their career in Finance and Accountancy just after completion of the three-year degree. A B.Com degree qualified student can begin their career with finance departments of Private organisations.
Students who have completed their Class 12th education in any stream with minimum qualifying marks as required.
4. BBA in Finance and Accounting
A degree in Bachelor of Business Administration with specialisation in Accountancy and Finance is most suitable for students who want to learn business operations, management, ethics as well as the core area of all business operations i.e. Finance and Accountancy.
Students who have passed 10+2 qualifying examination from any state or national board are eligible for BBA in Accounting and Finance
5. Bachelor of Arts in Economics
A degree in Economics would prepare students to study about the economic scenario as in finance industry it is really important to form policies after forecasting the risk factors after studying the policies, input and output of industry etc.
Students who have passed class 12 qualifying examination from State Board or National Board of Education
The students who have interest in making a career in finance and accounts can consider these courses. They can pursue the courses mentioned here from recognised institutes. The courses mentioned here are irrespective of the stream, i.e. students from class 12th Science, Arts or Commerce, all can take admissions in the above-mentioned courses.