Accounting is an important requirement for the running of operations and work processes for many industries, businesses, organizations, including individuals. It’s necessary to ensure the accuracy of all monetary transactions within the framework of legal guidelines. For a student who is interested in an accounting career and taking up accounting jobs in India, there are many things that he or she should be aware of. Accounting field is vast and there are different avenues of employment depending on your qualification and specialization. This article provides you with some important information related to an accounting career in India.
What are Accounting Jobs?
A professional who takes up an accounting job is referred to as an accountant. In layman language, accounting jobs involve maintaining and managing all account transactions of businesses/individuals through numbers and financial statements. Accountants should have knowledge not only of Accounting but also of Mathematics, Finance and Law so that they can clearly analyze profits and losses, and give a clear status of the business. Accounting involves various tasks and accordingly, you will find different types of accounting jobs in India.
Types of Accounting Courses in India
Completion of a recognized accounting course makes you eligible to apply for various types of accounting jobs in India. The various professional courses available are as follows:
- Chartered Accountancy course from the Institute of Chartered Accountants of India.
- ICWAI or Cost Accountancy course from the Institute of Cost Accountants of India
- ICFAI or Institute of Chartered Financial Analysts of India
- Company Secretary Course from the Institute of Company Secretaries of India
- MBA in Finance and Accounts from any recognized professional institutes
In addition to the above, you have many general graduate, diploma and certification courses for accounting jobs in India. These are as follows:
- Certificate Courses in Accounting
- Diploma Courses in Accounting
- BSc/MSc in Math/Statistics
- BCom/MCom in Accounting and Finance
- BCom/MCom in Accountancy
- BCom/MCom in Financial Accounting
- MCom in Accounting and Auditing
- MCom in Finance and Taxation
Types of Accounting Jobs in India
Depending on the professional courses qualified, you can take up varied accounting jobs in different designations like as follows:
- Chartered Accountant
- Cost Accountant
- Company Secretary
- Chartered Financial Analyst
- Bank Accountant
- Financial Advisor
- Credit Analyst
- Investment banker
- Accountant clerk and so on
Accounting Jobs: Work Responsibilities
As an accountant, there are various tasks involved. Some of the basic responsibilities include:
- Preparing, recording and auditing financial statements
- Handling monetary transactions
- Financial analyzing and reporting
- Preparing tax reports and tax returns
- Auditing accounts
- Researching and analyzing accounting data
- Preparing financial reports
- Preparing asset, liability, and capital account entries of businesses
- Providing financial information to clients and advising on financial actions etc.
Accounting Jobs’ Additional Requirements
To be successful in an accounting career in different accounting jobs, candidates should not only be professionally qualified but should also possess additional qualities and skills such as follows:
- Strong mathematical skills
- Interests and skills in calculations, data analyzing
- Knowledge on using spreadsheets
- To remain updated with the latest in the financial market
- Good analytical skills
For senior level positions, it is very essential to have strong interpersonal skills and the ability to handle teams. Developing strong networking is very essential for success.
Is Accounting a Lucrative Career Profile?
Yes, of course. Accounting is the backbone of any business. Accounting jobs are quite exciting and fruitful jobs for those who have a keen passion for finances, calculations and Math. In the job market today, an accounting career is a prospective career with great demand for accounting skills. There is job security, impressive pay package, and a lot number of job opportunities. The best part is that with experience and skills, accounting jobs can also be taken up as self-employed consultant jobs. Nowadays, you will find many consultancy firms in accounting related services.