9 Best Courses For Accountants in India & Abroad

Accounting is the backbone of every organization, ensuring financial transparency, strategic decision-making, and regulatory compliance. As the pulse of commerce, accounting provides invaluable insights into a company’s financial health, driving its growth and sustainability.

The complexities of modern business demand more than just an understanding of financial principles. They call for specialized accounting skills and degrees, advanced knowledge, and a comprehensive understanding of international financial standards.

Let’s better understand the various courses in the field of accounting.

• Chartered Accountant

From mastering complex financial concepts to offering indispensable insights to businesses, CAs play a pivotal role in shaping India’s economic landscape. With the right education and determination, you can embark on this rewarding path. CA courses in India are offered by the Institute of Chartered Accountants of India (ICAI), the regulatory body responsible for the CA profession. The journey to becoming a CA involves three stages – The foundation course, the Intermediate course, and the Final course.

Eligibility Criteria

For the Foundation Course, candidates must have completed their 10+2 examinations. As for the Intermediate Course, candidates should have cleared the Foundation Course or hold a relevant graduation or post-graduation degree. To enter the Final Course, candidates must successfully complete the Intermediate Course and fulfil any additional requirements set by ICAI.

Jobs and Salary

The CA designation opens doors to diverse career opportunities across industries. CAs are highly valued for their expertise in financial reporting, taxation, auditing, and business advisory. Graduates can pursue roles like Tax Consultant, Financial Analyst, Internal Auditor, and Chief Financial Officer (CFO) and even start their own practices.

The salary trajectory for CAs in India is impressive. Fresh CA graduates can expect competitive starting salaries, ranging from INR 6 to 10 lakhs per annum, depending on factors such as the employing organization, location, and industry. With experience and expertise, CAs can command even higher remuneration, and those who specialize in high-demand areas like International Taxation or Forensic Accounting can see their earnings soar north of 15 lakhs per annum.

Also Read – It’s not all numbers! 9 Must-Have Skills To Become a Successful Accountant

2. Association of Chartered Certified Accountants (ACCA)

In the dynamic world of finance and accounting, the Association of Chartered Certified Accountants qualification shines as a beacon of global recognition and career advancement.

The ACCA curriculum is meticulously designed to equip individuals with a profound understanding of accounting, finance, audit, taxation, and business management.

Eligibility Criteria

For undergraduates, ACCA candidates need to meet specific GPA requirements. They must have a minimum of 50% in mandatory subjects like English and Mathematics/Accounts. Additionally, ACCA can also be pursued after 12th. A 12th standard examination with a minimum of 65% in at least two subjects is required. For the remaining subjects, a 50% minimum mark is necessary.

Graduates aspiring to pursue ACCA courses must hold a bachelor’s degree or its equivalent from a recognized university in commerce or finance. In cases where the degree is absent, individuals can start their ACCA journey after completing the ‘Foundations in Accountancy’ course.

Jobs and Salary

Upon completing ACCA courses, a plethora of exciting career paths open up. ACCA graduates are well-equipped for roles such as Financial Analysts, Auditors, Management Accountants, Tax Consultants, and more. With a comprehensive skill set and a globally recognized qualification, these professionals are in high demand across industries.

The average salary for an ACCA-certified professional in India ranges from INR 3 to 15 lakhs per annum, depending on the job role and experience. The salary range for freshers is between INR 7 to 9 lakhs per annum or from INR 50 to 80 thousand per month.

Your ACCA Journey

IMS Proschool, a trusted name in professional education, offers ACCA course in India that prepares aspirants for success. With expert instructors, comprehensive study materials, and a focus on practical skills, Proschool ensures that candidates are well-prepared to excel in their ACCA exams and get good job opportunities with their placement support.

Did you know, students from IMS Proschool have a staggering 71% success rate at acing ACCA?

3. US Certified Management Accountant

The US CMA certification program, offered by the Institute of Management Accountants (IMA), is designed to validate expertise in financial management and management accounting areas. The syllabus is framed to highlight the integration of advanced accounting skills with critical management capabilities, ensuring that professionals not only understand the core concepts but also have the competence to apply them in the dynamic world of business.

Eligibility Requirements

To pursue the US CMA certification:

• A bachelor’s degree from an accredited college or university is typically required.
• Completion of two continuous years of professional experience in management accounting or financial management.
• It’s important to have proficiency in English, as the examination and course materials are presented in this language.

 
Jobs and Salary

Having the US CMA designation can open up a plethora of rewarding job positions in the global job market.

• Chief Financial Officer (CFO): Potential earnings can range from $100,000 to $300,000 annually, contingent on the company’s size and industry.
• Management Accountant: With typical salaries ranging from $75,000 to $120,000 per annum.
• Financial Controller: Earning between $80,000 to $150,000 annually, based on experience and company stature.
• Budget Analyst: Generally commanding a pay of around $60,000 to $85,000 per year.
• Financial Consultant: Salaries often range between $70,000 to $130,000 annually.

Also Read – How to ace your first accounting interview

4. Chartered Institute of Management Accountant (CIMA)

The CIMA program has been carefully designed to adapt to the changing business landscape of today. It consists of two stages that cater to the needs of both undergraduate and graduate students ensuring a seamless transition for learners at different educational levels.

Complementing these modules are a series of objective type exams and a comprehensive case study exam. This dual-layered approach ensures that participants, regardless of their educational background, can advance their knowledge, refine their skills, and excel in the realm of management accounting.

Eligibility Criteria

The eligibility criteria for CIMA is designed to welcome learners from diverse academic backgrounds. Anyone undergoing graduation or holding a graduate degree in any discipline can seize the opportunity to join the CIMA course and enhance their career prospects.

Jobs and Salary

A CIMA qualification opens doors to a plethora of career avenues. Graduates can find roles as management accountants, financial analysts, business advisors, and more. The skills acquired through the CIMA program are highly sought after by employers across industries.

As for earning potential, CIMA certified professionals are well-positioned to command competitive salaries. The combination of specialized expertise and practical knowledge gained from the program equips graduates to excel in their roles and advance in their careers.

Your CIMA Journey

For those seeking to embark on a CIMA journey, Proschool is a trusted ally. With a proven track record of guiding students toward success, Proschool offers comprehensive CIMA coaching. From detailed study materials to experienced instructors, Proschool ensures that learners are well-prepared to conquer the CIMA exams.

5. Diploma in IFRS

The Diploma in IFRS is a comprehensive program that delves into the intricacies of International Financial Reporting Standards. Participants gain a comprehensive understanding of the principles and standards that govern financial reporting on a global scale. From the conceptual framework and recognition of financial statement elements to complex topics like revenue recognition, financial instruments, and business combinations, the curriculum ensures a well-rounded grasp of IFRS.

Eligibility Criteria

The beauty of the Diploma in IFRS lies in its inclusivity. It welcomes a range of professionals, making it accessible to those with varied backgrounds. Graduates with degrees in accounting or related fields can leverage this course to deepen their understanding of IFRS principles. Non-accounting professionals, such as MBAs, CSs, CFAs, and CFPs, can join the program to enhance their knowledge of accounting practices.

Jobs and Salary

By obtaining the Diploma in IFRS you open up doors to a world of job opportunities. In India, an IFRS certified professional can expect an annual salary ranging from INR 12 to 24 lakhs depending on their job role and experience. For freshers the salary typically falls between INR 3 6 lakhs per annum. With your IFRS certification you can explore career paths such as financial analyst, financial reporting manager, audit manager or even specialize as a consultant, in IFRS compliance.

Your IFRS Journey

For those who aspire to pursue a Diploma in IFRS, Proschool’s PGCM IFR program serves as a stepping stone. This AICTE-approved one-year Post Graduate Certificate prepares you for the Diploma in IFRS while also earning you eligibility for the CPA designation. With a curriculum that includes essential tools like Excel, Power BI, and Tableau, this program not only ensures academic excellence but also comes with a placement program to help you get job ready.

6. Cost Management Accounting Course

The CMA certification program has been crafted to offer an understanding of cost management, financial planning and analysis. The curriculum integrates knowledge, with practical implementation ensuring that candidates not only grasp the theoretical foundations but also possess the ability to apply these principles in real life situations.

Eligibility Requirements

To embark on the CMA journey, candidates typically need a 10+2 qualification or equivalent from a recognized educational board. While no specific minimum marks are mandated, a solid foundation in English is crucial as the course is predominantly conducted in this language.

Jobs and Salary

CMA opens the doors to an array of intriguing job opportunities in the Indian job market.

• Financial Officer: Commanding an annual package of approximately INR 35 lakhs.
• Costing Executive: With earnings ranging between INR 5 to 10 lakhs annually.
• Cost Accountant in Accounts Department: Garnering a remuneration between INR 15 to 25 lakhs per annum.
• Financial Analyst: Enjoying an annual pay of around INR 7.73 lakhs.
• Finance Manager: Earning an average of INR 11.22 lakhs per year.

7. US Certified Public Accountant Course

The US Certified Public Accountant (CPA) course is a program that aims to provide individuals with extensive knowledge and practical skills in different areas of accounting, auditing, taxation and business law. It is widely recognized worldwide for its demanding curriculum, which encompasses a range of subjects. This ensures that CPA professionals have a grasp of the financial industry, as a whole.

Eligibility Criteria

To be eligible for enrollment in the US CPA course, candidates ‌need to meet the criteria.

• Hold a bachelor’s degree or an equivalent qualification from a recognized institution.
• Have completed a minimum number of credit hours in accounting and business-related subjects.
• Fulfill specific educational prerequisites established by the state board of accountancy.

Jobs and Salary

After finishing the Certified Public Accountant (CPA) course, there are numerous job opportunities within the accounting and finance sector. As an entry-level US CPA inIndia, you can expect a salary of INR 6 lakhs per year. The average annual salary for a CPA is around INR 9.25 lakhs. Some of the job roles you can explore after obtaining your CPA certification include Financial Officer, Costing Executive, Cost Accountant, Financial Analyst, Finance Manager, Senior Finance Manager, Chief Financial Officer, Accountant and Cost Management Accountant.

Did you know, at Proschool you get the best CPA resources under one roof – Experienced Faculty, World Class Study Material & Placement Opportunities

8. MBA in Finance

An MBA in Finance is a course that aims to provide individuals with an in-depth knowledge of financial management, investment strategies, and risk evaluation. The curriculum shapes students into skilled financial leaders who can navigate the intricacies of the financial world.

Eligibility Criteria

Eligibility for an MBA in Finance contains a mix of educational qualifications, entrance exams, and relevant work experience. It’s important to research and understand the specific eligibility criteria of the MBA program and institution you’re interested in.

Jobs and Salary

The typical income for someone with an MBA in Finance in India is approximately INR 3.25 lakhs per year, which translates to about INR 60,000 per month. The top salary for individuals with an MBA in Finance in India can reach INR 20-25 lakhs per year. After completing an MBA in Finance there are job opportunities available such as Financial Analyst, Finance Manager, Investment Banker, Risk Manager, Corporate Analyst and Financial Advisor.

Let us help you figure out which Accounting Course is best for you

9. Master of Commerce in Accounting & Auditing

MCom in accounting and auditing equips students with advanced knowledge and practical skills in financial accounting, auditing practices, and regulatory compliance.

Eligibility Criteria

Eligibility for Mcom in Accounting and auditing is having a relevant educational background‌ a bachelor’s degree in Commerce or a related field. It’s essential to research and understand the specific eligibility criteria of the MCom program and institution you’re interested in.

Jobs and Salary

The salary of an MCom graduate in Accounting and auditing can vary based on factors such as job role, experience, and location.

• Financial Officer in the company: Salary can range around INR 35 lakhs per annum
• Costing Executive: Salary can range from INR 5 to 10 lakhs per annum
• Cost Accountant in Accounts Department: Salary can range from INR 15 to 25 lakhs per annum

FAQs

• Jobs available after pursuing diploma-level accounting courses?

After pursuing diploma-level accounting courses, you can explore various career options in the accounting field, such as Assistant to a CFO, Tax Agent, Financial Analyst and more. The specific job opportunities may vary depending on your qualifications, skills, and experience.

• Which is the best international accounting course?

Certified Public Accountant (CPA) is one of the best international accounting courses as it provides a holistic insight into theoretical and practical aspects of accounting.

• Which is the toughest accounting course?

Chartered Institute of Management Accountant (CIMA) is considered challenging due to its focus on skills like strategy and business management.