A Financial Accountant is responsible for running the accounting and financial activities of an organisation. They carry out the day to day financial work for a firm, prepare financial statements and conduct audits. They also advise on accounting matters and ensure proper maintenance of account books and record of business.
Personal Competencies
You like working with numbers
You are good at keeping records of expenses, income and savings
You are good at keeping records of your work
Entry Pathway
1. Complete 10 + 2 in any stream (preferably Commerce)
2. Complete a Bachelor’s degree (B.Com) in Commerce
OR
Complete a Bachelor's degree followed by a Master's degree (M.Com) in the same or related field
Please check the duration of the course during enrolment
Where will you study?
The course is offered by the Department of Commerce. This list of institutes in indicative only
Government Institutes 1. Delhi University 2. Maharaja Sayajirao University, Vadodara 3. Presidency College, Chennai 4. Banaras Hindu University, Varanasi 5. National P.G. College, Lucknow 6. University Commerce College, Jaipur 7. St. Xavier’s College, Ahmedabad 8. Mumbai University
Private Institutes *(Please check if institute is affiliated and accredited with UGC before applying) 1. Narsee Monjee College of Commerce and Economics, Mumbai 2. Stella Maris College, Chennai 3. Women's Christian College, Chennai 4. Vimala College, Thrissur 5. Christ College, Bangalore 6. Kalinga University, Raipur 7. Lovely Professional University, Punjab 8. Parul University, Vadodara
*NPTEL- National Programme in Technology Enhanced Learning. It is by the Government of India and offers a variety of courses in an audio - video form.
Fees
The approx. course fee ranges between INR 1,00,000 - 3,00,000*
*(The above-mentioned figures are approximate numbers. This will vary from Institute to Institute)
Scholarships & Loans
SCHOLARSHIPS
• National Scholarship Portal - Visit http://www.scholarships.gov.in. Under this portal there are Central Government schemes offered by different departments, UGC/AICTE Schemes and State Schemes* • Visit http://www.buddy4study.com for details on available scholarships. This is a gateway to scholarships starting from Class XI* • Scholarships are also made available in institutes based on merit*
*(Availability of these scholarships can vary from time to time)
LOANS
• VidyaLakshmi, http://www.vidyalakshmi.co.in, is a portal for students seeking education loan. This portal has been developed under the guidance of the Department of Financial Services, (Ministry of Finance), Department of Higher Education (Ministry of Human Resource Development) and Indian Banks Association (IBA) • Some states have student credit cards with low interest rates, for instance, West Bengal, Odisha, Bihar, etc. • All banks give education loans
Where will you work?
Places of Work: All types of Private, Government and Commercial Enterprises such as Shops, Companies, Hotels, Retail Stores and so on
Work Environment: It is a desk job. At the entry-level you will not head any team. Local travel is not a part of the job profile. It is a full-time job, work hours may extend to more than 40 hours per week.
Opportunities for work exist for differently abled in this field
The approx. salary of a Financial Accountant ranges between INR 8,000 - 12,000* per month for new entrants and INR 20,000 to 35,000* per month for candidates with experience
Source: https://bit.ly/3HTy9hG *These figures are taken from NCS and are indicative and subject to change
Experts from the field
Sutapa Bakshi is a Senior Accountant in a leading NGO in Kolkata. She has done her Bachelor's in Commerce. Bakshi joined the NGO in 2006 as an Accounts Officer and has been promoted to the position of Senior Manager now.*
Source : Personal interview
*The above information is for training purposes only and will not be used for any commercial gains
Financial Accountant
NCS Code: 2411.01 | BFSI011. Complete 10 + 2 in any stream (preferably Commerce)
2. Complete a Bachelor’s degree (B.Com) in Commerce
OR
Complete a Bachelor's degree followed by a Master's degree (M.Com) in the same or related field
Please check the duration of the course during enrolment
The course is offered by the Department of Commerce.
This list of institutes in indicative only
Government Institutes
1. Delhi University
2. Maharaja Sayajirao University, Vadodara
3. Presidency College, Chennai
4. Banaras Hindu University, Varanasi
5. National P.G. College, Lucknow
6. University Commerce College, Jaipur
7. St. Xavier’s College, Ahmedabad
8. Mumbai University
Private Institutes
*(Please check if institute is affiliated and accredited with UGC before applying)
1. Narsee Monjee College of Commerce and Economics, Mumbai
2. Stella Maris College, Chennai
3. Women's Christian College, Chennai
4. Vimala College, Thrissur
5. Christ College, Bangalore
6. Kalinga University, Raipur
7. Lovely Professional University, Punjab
8. Parul University, Vadodara
Information on the institute rankings can be found at - https://www.nirfindia.org/2022/Ranking.html
Distance learning Institute
Indira Gandhi National Open University (IGNOU)
Online courses
• NPTEL* Swayam - nptel.ac.in/courses/103103039
• Udemy - https://www.udemy.com/courses/finance-and-accounting/
*NPTEL- National Programme in Technology Enhanced Learning. It is by the Government of India and offers a variety of courses in an audio - video form.
The approx. course fee ranges between INR 1,00,000 - 3,00,000*
*(The above-mentioned figures are approximate numbers. This will vary from Institute to Institute)
SCHOLARSHIPS
• National Scholarship Portal - Visit http://www.scholarships.gov.in. Under this portal there are Central Government schemes offered by different departments, UGC/AICTE Schemes and State Schemes*
• Visit http://www.buddy4study.com for details on available scholarships. This is a gateway to scholarships starting from Class XI*
• Scholarships are also made available in institutes based on merit*
*(Availability of these scholarships can vary from time to time)
LOANS
• VidyaLakshmi, http://www.vidyalakshmi.co.in, is a portal for students seeking education loan. This portal has been developed under the guidance of the Department of Financial Services, (Ministry of Finance), Department of Higher Education (Ministry of Human Resource Development) and Indian Banks Association (IBA)
• Some states have student credit cards with low interest rates, for instance, West Bengal, Odisha, Bihar, etc.
• All banks give education loans
Places of Work: All types of Private, Government and Commercial Enterprises such as Shops, Companies, Hotels, Retail Stores and so on
Work Environment: It is a desk job. At the entry-level you will not head any team. Local travel is not a part of the job profile. It is a full-time job, work hours may extend to more than 40 hours per week.
Opportunities for work exist for differently abled in this field
Accounts Clerk → Assistant Accountant → Accountant → Accounts Officer → Chief Accountant
The approx. salary of a Financial Accountant ranges between INR 8,000 - 12,000* per month for new entrants and INR 20,000 to 35,000* per month for candidates with experience
Source: https://bit.ly/3HTy9hG
*These figures are taken from NCS and are indicative and subject to change
Experts from the field
Sutapa Bakshi is a Senior Accountant in a leading NGO in Kolkata. She has done her Bachelor's in Commerce. Bakshi joined the NGO in 2006 as an Accounts Officer and has been promoted to the position of Senior Manager now.*
Source : Personal interview
*The above information is for training purposes only and will not be used for any commercial gains
accountant, assistant accountant, accounting officer