A job in financial accounting puts you right in the thick of things, from creating cash flow and balance sheets to assessing the investment, risk, and capital structure of businesses. In addition to a thorough study of accounting concepts, it also covers the study of finance, marketing, and taxation in addition to current computer accounting programs like Tally. Students who are motivated can pursue careers in marketing, international business after doing BBA International Business, finance, and other related professions. Moreover, this blog is about the diploma in Financial Accounting.
Table of Contents
- Diploma in Financial Accounting: Highlights
- About Diploma in Financial Accounting
- Why Choose to Pursue Diploma in Financial Accounting?
- Skills Required for Diploma in Financial Accounting
- Subjects and Syllabus for Diploma in Financial Accounting
- Best Books for Diploma in Financial Accounting
- Top Universities/ Colleges for Diploma in Financial Accounting in Abroad
- Eligibility Criteria
- Documents Required
- Job Positions and Salary
- Industries
- FAQs
Diploma in Financial Accounting: Highlights
| Course Name | Diploma in Financial Accounting |
| Type of Course | Diploma |
| Time Duration | 1- 2 Years |
| Eligibility Criteria | 10+2 Mathematics |
| Admission Process | On the basis of the entrance exam and merit |
| Average Tuition Fees | INR 9 Lakhs to INR 12 Lakhs |
| Job Positions | Chief Financial Officer ( CFO Full Form ), Financial Assistant and Accountant, Book-Keeping Clerk, Business Consultant, Certified Public Accountant, etc. |
| Skills Required | Financial Reporting, Attention to Detail, Business Awareness, Analytical Skills, etc. |
| Starting Salary Package in Abroad | INR 15 Lakhs to INR 20 Lakhs |
| Higher Study Options Available | BBA, B.Com |
About Diploma in Financial Accounting
The one- to two-year Diploma in Financial Accounting program seeks to develop practical accounting abilities in addition to imparting in-depth theoretical knowledge of the field. The course’s instruction on computer-related software, such as Tally and QuickBooks, allows students to use computers to practically apply the accounting ideas and principles they have studied. The course covers the fundamentals of accounting for business, contemporary procedures and practices, capital structure, cash flows, financial statements, and mercantile and corporate legislation, as well as how to understand these concepts in practical business settings. People also get knowledge about applied research, business ethics, and taxes.
Why Choose to Pursue Diploma in Financial Accounting?
Below are some of the reasons to choose to pursue Diploma in Financial Accounting:-
- Because of the rapid expansion of the banking and finance sectors in India, students are opting to pursue a Diploma in Accounting and Finance as their post-high school program, which will provide them with an advantage in their future careers.
- This diploma program equips students with the necessary abilities to be considered marketable in their field of study in addition to academic and practical knowledge.
- Through this course, the student learns the fundamentals of accounting and financial management and cultivates the skills required for success in the corporate world.
- It also helps students learn financial and accounting software skills linked to business.
- After receiving their diploma in accounting and finance, candidates might choose to pursue additional degrees such a B.Com. or M.Com. to further their studies.
Skills Required for Diploma in Financial Accounting
Some of the essential skills required for diploma in financial accounting are:-
- Cashflow Management
- Management Experience
- Critical Thinking
- Communication
- Accounts Reporting
- Attention to Detail
- Time Management
- Computer Skills
- Accounting Principles
Subjects and Syllabus for Diploma in Financial Accounting
| SEMESTER- 1 | SEMESTER- 2 |
| 1. Economics and Finance Introduction 2. Tally ERP- 9.0 3. Indian Banking System 4. Capital Market 5. Accounting and Audit Practice 6. Fundamentals of Accounting | 1. Management Skills 2. Taxation 3. Commercial and Industrial Law 4. Financial Risk Management 5. Loans and Advances 6. Indian Financial System |
Best Books for Diploma in Financial Accounting
| Book Name | Author/ Editor |
| Accounting Principles: A Business Perspective | Hermanson, Edwards, Maher |
| Introduction to Financial Accounting | Annand and Marchand |
| Technical Analysis of Financial Markets | John J. Murphy |
| Auditing and Assurance | Sanjib Kumar Basu |
| Management Accounting | N.S Malik |
Top Universities/ Colleges for Diploma in Financial Accounting in Abroad
Want to pursue diploma in financial accounting, check out these top universities/ colleges in abroad.
- Dublin Business School, Ireland
- George Brown College, Canada
- St. Clair College, Canada
- Humber College, Canada
- Centennial College, Canada
- University of Oxford, UK
Eligibility Criteria
Students who wish to pursue a diploma in financial accounting. They have to fulfil some of the eligibility requirements listed below.
- They should have completed their 12th standard from a recognized board such as ICSE, CBSE, etc.
- Mathematics should be one of the core subjects to be eligible.
Documents Required
A list of the documents required for pursuing a diploma in Financial Accounting are as follows.
- English Proficiency Test Scores such as TOEFL, PTE, IELTS, etc.
- Recommendation Letter for Study Abroad (LOR)
- SOP (Statement of Purpose)
- Character Certificate
- Proof of DOB (Date of Birth)
- School Leaving Certificate
- Transfer Certificate
- Provisional Certificate
- Pass Certificate and Mark Sheet of Class X and XII exams.
- Migration Certificate
- Residential Proof or Certificate/ Domicile Certificate
Job Positions and Salary
There are various highest paying jobs for commerce students in abroad. Students who had chosen to pursue the diploma in financial accounting after completing their 12th from commerce stream. Listed below are some of the job positions available along with the average salary in INR.
| Job Positions | Average Salary (in INR) |
| Financial Assistant | 4.75 Lakhs |
| Finance Manager | 5.5 Lakhs |
| Business Consultant | 6.0 Lakhs |
| Financial Advisor | 8.5 Lakhs |
| Cost Accountant | 5.0 Lakhs |
| Tax Accountant | 4.0 Lakhs |
| Billing Clerk | 3.0 Lakhs |
| Book-Keeping Clerk | 3.5 Lakhs |
Industries
- Startups
- Underwriting Companies
- Banks
- Accountancy Firms
- Consultancy Firms
- Multinational Corporations
- Public Accounting Firms
- Research Firms
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FAQs
Name the diploma best for accounting.
The diplomas best for accounting are:-
1. Diploma in Business- Accounting
2. Diploma of Accounting
3. Level 7 Diploma in Accounting and Finance
4. CIPFA Diploma in International Public Sector Accounting Standards (IPSAS)
What jobs can you get with a diploma in accounting?
1. Accounting Team Supervisor
2. Tax Agent
3. Bookkeeper/ Accountant
4. Financial Services Manager
