Postgraduate Diploma in Accountancy is a one-year programme that provides advanced knowledge of various accounting subjects, ranging from bookkeeping to financial accounting. Numerous Indian institutions across the country cater the course to interested candidates. During the programme, candidates learn about various processes involved in the management of expenses and incomes.
Bookkeeping is the process of recording and summarising financial transactions. Financial accounting, on the other hand, is the process of producing reports. Individuals and firms extrinsic to an organisation make use of these reports. The diploma programme educates candidates in both bookkeeping and financial accounting.
In addition to providing knowledge of financial accounting, the course explores various nuisances related to the same. While some institutions offer the 1-year diploma as a full-time course, others offer the course as a part-time programme. During the course, students are educated about the basics of business and different modes of business operations.
Candidates with Postgraduate Diploma in Accountancy are apt at converting financial statements written in some foreign currency to the local currency or vice-versa. Though the job profile of a financial accountant is ideal for such candidates, these candidates can provide their services as several other roles. After the successful completion of the postgraduate diploma, candidates with no interest in pursuing a job can further pursue advanced studies.
Candidates with an interest in pursuing Postgraduate Diploma in Accountancy need to be adept at organising and must possess effective interpersonal skills. Most of the times, accountancy is a combined effort put up by a team. Hence, accountancy candidates should be capable of leading a team effectively. All essential skills required for pursuing the postgraduate diploma programme in accountancy successful are:
Candidates with any Bachelor’s degree are apt to apply for the Postgraduate Diploma in Accountancy. However, candidates with a Bachelor’s degree in Commerce or some other commerce-based course are preferred over others. Though most of the institutions offer the postgraduate diploma as a 1-year course, some others offer the same course with a varying duration. The following list gives the complete eligibility criteria for the postgraduate programme in accountancy:
A completed Bachelor’s degree in any specialisation from a recognised institution with a minimum of 55% marks in aggregate or an equivalent CGPA.
Most of the institutions provide admissions to candidates on the basis of merit. However, a few select institutes require candidates to undergo a distinct entrance examination and clear the cut-off score.
Postgraduate Diploma in Accountancy course educates candidates in using the process of bookkeeping to explain account information. One application of such account information is to draw out future predictions related to the financial developments of the organisation. This information is vital for an organisation to modify its business approach and make necessary changes for the financial betterment of the organisation.
Post successful completion of the diploma programme in accountancy, candidates can either explore any of the rewarding career avenues or further pursue advanced studies. There are several career avenues for accountancy postgraduate diploma holders to explore.
Despite the variance of size and type of an organisation, accountants are essential for any business. There are just so many accounting tasks, ranging from bookkeeping to financial management, for which an organisation requires the services of an accountant. Whether a company is private, semi-governmental, non-profit or governmental, the services of an accountant are mandatory.
There are several opportune job profiles for a postgraduate diploma holder in Accountancy. The following list enlists some of the best job options for a candidate with Postgraduate Diploma in Accountancy.
Candidates with Postgraduate Diploma in Accountancy are ideal to put their skills to use as company accountants. These professionals are associated with preparing financial statements of an organisation or a client and overseeing the budgeting and forecasting for the same. Company accountants have a major impact on the employer’s decision-making regarding the accounts and finances.
A company accountant needs to work in line with senior management and various departments of the organisation to bear positive results for the organisation. These professionals are responsible for gathering financial data and ledgers, preparing budgets and monitoring expenses, handle all closings, oversee internal and external audits, et cetera.
Accounts Assistants provide administrative support to accountants. The job of an accounts assistant is ideal for postgraduate diploma holders in accountancy. Accounts assistants work together with an accountant, accounting manager, or finance manager to facilitate the process of accounting for an organisation or a client.
Accounts assistants undertake clerical tasks, namely filing, typing, handling mail, and making phone calls. They are also responsible for handling the basic bookkeeping, taking care of sales and purchase ledgers and journals, calculating and validating payments, and managing petty transactions.
Another lucrative job opportunity for a candidate with Postgraduate Diploma in Accountancy is that of an accounting consultant. Analysing, preparing, and interpreting the implications of various financial statements, as well as drawing out important conclusions from an organization's or client’s accounting information, are the job responsibilities of an accounting consultant.
Accounting consultants have the choice to either provide their services to a specific client as a full-time employee or serve multiple clients as a freelance accounting consultant.
Updating accounts receivable and issuing invoices, as well as updating accounts payable and performing reconciliations, are some of the job responsibilities of a junior accountant. Posting and processing journal entries and ensuring recording of all business transactions are also a part of the job responsibility of a junior accountant. The job profile of a junior accountant is suitable for candidates with Postgraduate Diploma in Accountancy.
Junior accountants are essential for providing support to the financial department of an organisation. They work directly under the supervision of finance manager of the organisation.
The job profile of a finance manager is a great working option for postgraduate diploma holders in Accountancy. A finance manager is the backbone of an organization's all essential decisions taken in the direction of finances.
Finance managers or financial managers are responsible for providing essential financial guidance and support to an organisation or a client. These professionals need to deal with complex modelling and financial analysis to come up with ideal finance related decisions.
Candidates with a successfully completed postgraduate diploma in accountancy can choose to work as accounts assistants, certified public accountants, chief financial officers, chartered management accountants, company secretaries and directors of finance, together with financial controllers, financial advisors, financial consultants, financial analysts, investment analysts, research assistants, and sales managers.