According to the American Institute of Certified Public Accountants (AICPA) accountancy is "the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions, and events which are, in part at least, of financial character, and interpreting the results thereof”. The art, of course lies in the information that the accountant presents as reliable and relevant to the author. Nowadays, accounting is also considered as “the language of business” as it involves the reporting of financial information to different groups of people. Accountants crunch numbers and use it to predict the behavior of markets. They also interpret the market for the people. Anyone with the skills and passion for this type of work can very well join a course in accounting. This will not only sharpen the skills but also equip the students with all that is necessary to make them sail smoothly through the sea of numbers. If you are interested in this course then read below to learn more.
Accountancy Courses Eligibility Candidates can join an accountancy course by clearing the Professional Education (PE) course. However, graduates (those from the arts are not covered) who have passed with the specified marks and from the requisite stream or any equivalent recognized examination need not sit for the first part of this course. Students joining after their class 12th or graduates with less than the specified marks should sit for the PE course 1. The second part of the course is mandatory for all. For an MBA in accounting a bachelors degree in any discipline with the institute specified marks is the eligibility criteria.
Details Of The Course Curriculum The structure of the course varies among different institutes. The course structure of the bachelors in accountancy is divided in five categories: •Accounting strand •Financial strand •Legal strand •Management strand •Marketing minor •Accounting (specialization) •Intermediate account ting I, II, and III •Auditing •Federal Income Taxation •Federal Tax Accounting •Accounting Information Systems Specialization Candidates have the option to specialize in Accounting and Financial Management, which will allow them to qualify them for such positions as investment banker, financial analyst, management consultant, or certified auditor. A specialization in Public Accounting will qualify the candidates for a broad range of positions in accounting, tax, auditing and consulting activities for clients as diverse as Governments, NGOs, corporations, and even individuals. Other specialization area in Accountancy includes:
•Forensic Accounting •Management Accounting •Public Sector Accounting •Cost Accounting •Accounting Information Systems •Bookkeepers and Para Accounting •Accounting Clerks Skills Required The fundamental skill that is required for accountancy is that the candidate should be detailed-oriented. He or she should also be very good researchers and have an excellent knowledge of international tax laws, economics, and financial markets. The candidate must also have knowledge of the tax and market of the country from which he or she is operating. They should have strong interpersonal skills coupled with effective oral and written communication skills. They should also have a strong foundation in mathematical and computer along with analytical and problem solving skills.
Career Prospects An accountancy degree will enable a candidate to pursue numerous job options. The various positions that an accountancy degree holder can expect to join are Accountant, Account Manager, Budget Analyzer, Auditing Officer, Account Investigator, Banker, Consultant, Loan Agent, and Taxation Manager. They can seek employment in public and private sector corporations or also become a writer for business and accounts publications.
Some Of The Best Institutes Offering This Course Globally •The Institute of Professional Accountants, India •Institute of Management Accountants, USA •The Institute of Cost and Works Accountants of India (ICWAI), India •Chartered Institute of Management Accountants, UK •Keller Graduate School of Management, USA •University of Southern California, USA •Stanford University, USA •London School of Economics, UK •University of Strathclyde, UK •London School of Business and Finance, UK •University of Texas, USA •Brigham Young University, USA •University of Illinois, USA •Goenka College of Commerce and Business Administration, India •St. Xavier’s College, India •Shri Ram College of Commerce, India •Kanwal Institute of Commerce, India
