Courses Overview : Diploma In Accounting And Finance

Diploma in Accounting and Finance: What is it About?

A Diploma in Accounting and Finance is a one-year programme that deals with Accounting and Finance in a more professional setting than an academic setting. After graduation, diploma in Accounting and Finance jobs include HR, Business Consultant, Production Manager, Research and Development Manager, etc.

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.

Diploma in Accounting and Finance Course Details

Which are the Top Colleges for Diploma in Accounting and Finance?

The name of some top institutes is listed below along with their Location and Average Annual Fees are listed below. 

Source: College Websites 

Diploma in Accounting and Finance College Comparison

Here is a comparison of the top colleges offering Diploma in Accounting and Finance:

Source: College Websites 

Can Diploma in Accounting and Finance be Pursued Through Distance Education?

Distance learning for a diploma in Accounting and Finance is very rare. But, there is one college which provides this course through distance mode, which is discussed below. 

• The Institute of Professional Accountants (IPA), Delhi does offer distance learning for accounting courses. 
• The diploma courses offered here have a duration that varies from 6- 12 months.
•  The minimum eligibility is 10+2 in any discipline with 50 percent aggregate.
• The IPA conducts periodical exams.  A Diploma certificate is awarded after passing the examination.

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. 

Which are the Important Books for Diploma in Accounting and Finance?

Some of the best books that are referred for a diploma in accounting and finance are as follows:

Course Comparison: Diploma in Accounting and Finance Vs BCom

While Diploma in Accounting and Finance is a Diploma course in the field of Accounting, BCom is a popular Bachelor Degree course involving a similar field of study. The differences between the two courses are highlighted in the table. 

Go through the list of top BCom colleges in India. 

Source: College Websites 

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. 

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. 
• B.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.

What Is The Admission Process For Diploma In Accounting And Finance?

The Admission Process Of The Diploma In Accounting And Finance Course Is Mainly Based On The Marks Obtained In 10+2. Some Of The Important Points Related To Admission To This Course Are Discussed Below. 

• Generally, For This Course, There Is No Such Process Of A Common Entrance Exam. However, Different Colleges May Hold Their Entrance Level Examinations.
• For Availing Admission To The Course, One Has To Visit The Website Of The College Or Visit The College’s Campus For More Information.
• If You Clear The Cutoff, You Will Be Called For An Interview Most Times. Some Colleges Provide Direct Admission Without An Interview.
• Merit Lists Are Announced Shortly After Application Forms Are Filled.
• Some Of The Colleges Test The General Aptitude Of The Students To Give Them Admission.
• General Aptitude Test May Include A Group Discussion And An Interview With College Officials.
• In The Case Of Entrance Exams, The Students Who Clear The Cutoff Will Be Called In For Interviews.
• If Selected, The Student Can Then Go To The Allotted College For Submission.

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.

Entrance Exam For Diploma In Accounting And Finance?

Since The Admission Process Is Mainly Merit-based For This Particular Course Of Diploma In Accounting And Finance, There Is No Such Common Entrance Exam Held For The Admission Of A Candidate. Some Colleges Conduct Aptitude Tests. 

Some University Based Entrance Exams For This Course Are Discussed Below. 

GATA - Goenka Aptitude For Admission It Is The Entrance Exam Held By GD Goenka University For Admissions Into Both Graduate And Undergraduate Courses.

MP-VYAPAM-DAHET - MP Vyapam Animal Husbandry Entrance Exam Is An Entrance Exam For Admission Into Diploma Courses Offered By Governmental Institutions.

AP-DEECET - Andhra Pradesh Diploma In Elementary Education Common Entrance Test Is Conducted For Students Who Want To Pursue A Diploma In Education In Government Institutes In Andhra Pradesh.

How Can We Prepare For A Diploma In Accounting And Finance Entrance Exams?

The Entrance Exams For Diploma In Accounting And Finance Would Consist Of Analytical And Logical Reasoning, Mathematics, English Language, General Knowledge, Scientific Knowledge. 

Some Of The Important Preparation Tips Are Discussed Below. 

• Study These Topics Well Before The Exam.
• It Is Best To Be Thorough In The Topics Being Covered.
• Try Practicing By Solving Previous Years Papers And Mock Tests To Analyse Your Improvement And Prepare Yourself For The Actual Exam.
• Solving As Many Papers Can Help You Gain Speed And Accuracy.
• Finish Preparation Well In Advance, So You Get Enough Time For Revision Of The Content.
• The Most Important Thing Is To Remain Calm Yet Determined While Carrying Out Your Preparations And While Attempting The Exam.

Types Of Questions Asked For Diploma In Accounting And Finance Entrance Exams?

Having A Proper Knowledge Of The Type Of Questions Is Important To Prosper In The Diploma In Accounting And Finance Entrance Exams. Some Important Points Related To Types Of Questions Are Discussed Below. 

• The Questions Asked Are Usually Ones That Test The Candidates' Aptitude.
• The Questions Are Mostly About Reasoning, General Knowledge, English, Quantitative Skills, Etc.
• Some Entrance Exams Lay Weight On The Quantitative Section. So It Is Best To Gain A Lot Of Practice In Mathematics.
• The Sections May Vary With Each Entrance Exam.
• The Questions Are Usually Multiple-choice Questions. Some Exams May Have Items That Require Written Answers.

Points To Remember While Attempting Diploma In Accounting And Finance Exam

Some Quick Tips To Crack Diploma In Accounting And Finance Entrance Exams Are Discussed Below. 

• Try To Solve The Numerical Problems At The End Of The Test. It May Help Save Time.
• Try To Be Quick And Efficient While Answering Questions.
• Do Not Leave Any Question Unanswered.
• Remain Calm While Attempting All The Questions And Retain Your Focus
• Thoroughly Read The Questions Before You Try To Answer Them. This Will Be Particularly Useful While Attempting MCQs.

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 kick start 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