About Diploma in Accounting and Finance

A Diploma in Accounting and Finance course is a discipline that deals with imparting to students the knowledge of Accounting and Finance topics, including micro and macroeconomics, business commerce, and export and import policies. Some other topics are economic theory, money systems, banking systems and principles of accounting. Specialization subjects are statistics, taxation, marketing, accounting & finance, banking, and insurance.

According to corporatefianaceinstitute.com, "Finance is the management of money and investments for individuals, corporations, and governments. Accounting is the recording, maintaining, and reporting of a company's financial records."

Why Study Diploma in Accounting and Finance?

Studying Diploma in Accounting and Finance can have major benefits, some of which are discussed below. 

Since the 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 students 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.

Eligibility Criteria for Diploma in Accounting and Finance?

The candidates seeking admission to the 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.

Admission Process For Diploma in Financial And Accounting Semester

The majority of the admission criteria for the Diploma in Accounting and Finance course depend on the results of the 10+2 exam. Below, we’ll go over a few key points regarding enrollment in this course.

There is typically no such process as a common entrance exam for this course. Different colleges may, however, hold their respective entrance exams.

For more information or to apply for admission to the course, one must go to the college’s website or campus.

Most of the time, if you meet the cutoff, you will be contacted for an interview. Direct admission without an interview is offered by some colleges.

Following the completion of application forms, merit lists are promptly announced.

Some colleges evaluate applicants’ general aptitude before admitting them.

An interview with college representatives and a group discussion could be part of the general aptitude test.

Students who pass the cutoff on entrance exams will be contacted for interviews.

The student may then go to the designated college for submission if chosen.

Documents Required For Admission Diploma in Financial And Accounting Semester

Here is a general list of documents that you might need to submit to secure admission to a Diploma in Accounting and Finance. For a college-specific list, you’ll need to check the college website.

• Mark sheet and pass certificate of your Class X or XII examination.
• Proof of date of birth.
• School leaving certificate
• Transfer certificate
• Domicile certificate/ residential proof or certificate
• Provisional certificate
• Character certificate
• Scheduled Caste/ Scheduled Tribe/Other Backward Caste certificates
• Proof of disability (if any)
• Migration Certificate
• SOP
• LOR
• English Proficiency Test Scores like IELTS, TOEFL, PTE etc.

Syllabus of Diploma in Accounting and Finance

Diploma in Financial And Accounting Semester 1 Syllabus

• Fundamentals of Accounting
• Accounting and Audit Practice
• Capital Market
• Indian Banking System
• Tally ERP -9.0
• Economics & Finance Introduction

Diploma in Financial And Accounting Semester 2 Syllabus

• Indian Financial System
• Loans and Advances
• Financial Risk Management
• Commercial & Industrial Law
• Taxation
• Management Skills

Types of Diploma in Accounting and Finance

Aspirants can pursue the Diploma in Accounting and Finance course in a full-time or part-time course. There may be discrepancies regarding distance, so one may inquire with the university if Diploma in Accounting and Finance is offered as a distance course.

Full-Time Diploma in Accounting and Finance

A one-year full-time Diploma in Accounting and Finance is typical. Students are required to attend classes, submit assignments, and take exams on campus. Students gain more exposure, experience, and knowledge by interacting directly with colleagues and faculty when enrolled in a full-time Diploma in Accounting and Finance course.

Part-Time Diploma in Accounting and Finance

Part-time degrees allow students to complete their degree programmes on their own time. Many colleges offer diplomas in accounting and finance as part-time courses. 

Distance Diploma in Accounting and Finance

Distance Education colleges allow students to earn their degrees while working. This is frequently the most adaptable type of degree program. A Diploma in Accounting and Finance is available at IGNOU.

Popular Entrance Exams for Diploma in Accounting and Finance

1. AP DEECET
2. GATA
3. MP-VYAPAM DAHET

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 organizations, accountancy firms, banking organizations, financial firms etc. after the completion of the entire course.

He/she can work as a book-keeping clerk, billing clerk, tax accountant, financial advisor, financial assistant & accountant, financial consultant, Chief Financial Officer, Certified Public Accountant, finance manager, 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 organizations, accountancy firms, etc.

Companies like Hedge, Wipro Limited, ITC Limited, HPCL, Bharat Electronics, and Tato Motors hire those candidates who have a diploma in accounting and finance. 

They can gain employment under several different job profiles.

1. Book-keeping Clerk
   
2. Billing Clerk
3. Tax Accountant 
4. Cost Accountant
5. Financial Advisor 
6. Business Consultant 
7. Finance Manager 
8. Financial Assistant 

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.