Diploma in Accounting and Finance
Diploma in Accounting and Finance is a 1-year long diploma course for those students who have passed their 10+2 examinations and had Mathematics as one of the compulsory subjects. This particular course equips a candidate with a diploma degree in Accounting and Finance. It is more of a professional course rather than an academic one.
Any students who have cleared their 10+2 exams from any school duly recognised by the Indian Government are eligible to apply for this course. Most of the colleges ask for a minimum of 50% marks to be eligible.
What is the Eligibility Criteria for Diploma in Accounting and Finance?
The candidates seeking admission to Diploma in Accounting and Finance course must qualify certain minimum eligibility criteria, some of which are mentioned below.
- A candidate must have passed their 10+2 or any other equivalent examination from a recognised educational institution to deem eligible for the Diploma in Accounting and Finance course.
- They also must have Mathematics as one of their compulsory subjects in their high school level qualifying examination to attain eligibility for this particular course.
- The percentage of marks required for admission can vary from one college to another..
Diploma in Accounting and Finance: What is it About?
Diploma in Accounting and Finance involves the study of everything related to financial systems and accounting processes. Here is what a Diploma in Accounting and Finance actually is.
- The Diploma in Accounting and Finance is a short term diploma course in Accounting and Finance which is stretched over a term duration of 1 year.
- It is for those students who are interested in studying accounts and finance after their 10+2 or equivalent examinations.
- This course aims at imparting practical and theoretical knowledge in the particular field of study.
- The course lays down the base-level foundation of subjects, which are related to banking and finance and helps them to get a good grasp of this subject in general.
- The main goal of this course is to make the students employable for different job positions shortly.
- The Diploma in Accounting and Finance course makes the student aware of various accounting and financial management policies.
- It helps them to learn how to use accounting software in business and the usage of different financial services
Why Study Diploma in Accounting and Finance?
Studying Diploma in Accounting and Finance can have major benefits, some of which are discussed below.
- Since finance and banking sectors are gaining a significant boost in India in recent times, students are opting for the Diploma in Accounting and Finance as their post-high school level studies to get a better kickstart at their future careers.
- This diploma course imparts practical and theoretical knowledge to the students on the particular field of study and makes them skilled enough to be deemed employable.
- This course makes the student skilled on policies of accounting and financial management and helps them develop the necessary skills required in the world of business.
- It also helps the students learn how to use financial services and accounting software in the business.
- A candidate also has the opportunity to pursue other degrees like B.Com, M.Com, etc., once they complete their Diploma in Accounting and Finance. This may work as an extra advantage.
Diploma in Accounting and Finance Course Highlights
Diploma in Accounting and Finance has several outstanding features; here are some of them highlighted:
| Course Level | Graduate |
| Duration | 1 year |
| Examination Type | Both Annual and Semester |
| Eligibility | 10+2 or equivalent examination |
| Admission Process | Merit-based/Entrance Exam |
| Course Fee | INR 6,000/- month |
| Average Salary | INR 3,00,000 – 6,00,000 |
| Top Recruiting Sectors | Market Research Firms, Public Accounting Firms, Corporations, Consultancy Services, Research Organisations, Accountancy Firms, etc.
*Admission fee & Examination fee are applicable for this course. |
Which Subjects are Taught in Diploma in Accounting and Finance?
Diploma in Accounting and Finance includes all the major subjects related to Financial Systems and Accounting Processes. The complete Semester Wise breakup of the syllabus is given in the table below.
| Fundamentals of Accounting | Indian Financial System |
| Accounting and Audit Practice | Loans and Advances |
| Capital Market | Financial Risk Management |
| Indian Banking System | Commercial & Industrial Law |
| Tally ERP -9.0 | Taxation |
| Economics & Finance Introduction | Management Skills |
Which Jobs and Salary Trends are Available for Diploma in Accounting and Finance Candidates?
A student pursuing Diploma in. Accounting and Finance has a wide range of career prospects and scopes. Some of the jobs and Salary Trends are discussed below.
- A student earning a degree in the Diploma of Accounting and Finance course can work in various market research firms, public accounting firms, corporations, consultancy services, research organisations, accountancy firms, banking organisations, financial firms etc. after the completion of the entire course.
- He/she can work as book-keeping clerk, billing clerk, tax accountant, financial advisors, financial assistant & accountant, financial consultant, Chief Financial Officer, Certified Public Accountant, finance managers, etc.
- With this degree, he/she can score government and private sector jobs in companies like market research firms, public accounting firms, corporations, consultancy services, research organisations, accountancy firms, etc.
- Companies like Hedge, Wipro Limited, ITC Limited, HPCL, Bharat Electronics, Tato Motors hire those candidates who have a diploma in accounting and finance.
- They can gain employment under several different job profiles.
The various job profiles, along with their respective descriptions and the annual average salary is given below.
| Book-keeping Clerk | The main responsibilities of Book-keeping Clerk include providing financial and administrative support to the organisation and supporting related financial operations | INR 3,20,000 | |||
| Billing Clerk | The responsibilities of Billing Clerk include Generating invoices and bills, maintaining the invoice and bill records, generating account statements. | INR 3,00,000 | |||
| Tax Accountant | Tax Accountants work for understanding tax structure, handling financial records, taxes of any organisation and preparing tax returns. | INR 4,00,000 | |||
| Cost Accountant | The responsibilities of Cost Accountants include taking care of the entire incurred cost in manufacturing of any product and all the costs related to the firm. | INR 5,00,000 | |||
| Financial Advisor | The responsibility of Financial Advisor includes advising the company or firm on the various financial growth related issues. They need to chart out the ways through which the financial conditions of the organisation can be improved. | INR 8,00,000 | |||
| Business Consultant | Business Consultant mainly works as an advisor who provides advice on various sides of a business including the financial side. | INR 6,00,000 | |||
| Finance Manager | Finance manager is responsible for handling all the finance related issues of the organisation including releasing expenses, managing the investment, keep track of the total financial outcome, etc. | INR 5,50,000 | |||
| Financial Assistant | Financial Assistant assists the finance managers and chief finance officers in handling the financial issues of an organisation properly. | INR 4,75,000 | |||
Salary Trend Graph
What is the Future Scope After Diploma in Accounting and Finance?
Since Diploma in Accounting and Finance is a diploma course, there are many higher study options and future scope after this course. Some of them are discussed below.
- After the completion of the Diploma in Accounting and Finance degree, students can also opt for various other degrees like B.Com, M.Com. etc. This will work to their advantage in future.
- Com is a 3-year undergraduate course which basically is the study of the principles of accounting and finance. M.Com is nothing but the Postgraduate level extension of the B.Com degree.
- Students who have already achieved a Diploma degree in Accounting and Finance are also eligible to complete their undergraduate and postgraduate level courses in B.Com and M.com respectively.
- The candidate can also take up higher education and study for the job of a Chartered Accountant which will garner them almost 7-9 Lacs INR annually.
- This is really a great prospect which comes with pursuing higher-level degrees further after successful completion of the Diploma in Accounting and Finance course.
- There are a lot of diplomas under the field of Diploma in Accounting and Finance as well. Some of these are Diploma in Accounting and Taxation, Diploma in Financial Management etc.
- These are sort of specialisations under the Diploma in Accounting and Management itself and students can earn their degrees in these particular streams.