Career Guide for Accounting Management Studies

Accounting Management is the practical application of management techniques to control and report on the financial health of the organization. This involves the analysis, planning, implementation, and control of programs designed to provide financial data reporting for managerial decision making. This includes the maintenance of bank accounts, developing financial statements, cash flow and financial performance analysis. A favorable accounts statement can ensure more funds for the company and therefore the contributions of an accounts manager is crucial for an organization. In a competitive economy, there is a pertinent demand for qualified and experienced accountant mangers to assist the management of any firm/organization realize its business goals. A successful accounts manager must have strong interpersonal and communication skills, besides having a strong background in areas like chartered accountancy and cost accounting. Aspirants are required to have prior knowledge in subjects like accountancy, law, insurance, investments, finance , taxation and other related subjects.

Courses & Eligibility:

Most of the universities offer education in accounting management at the post graduate level. Generally, for undergraduate courses, the eligibility is 10+2 with 50% marks, preferably in commerce stream. For post graduate courses, the aspirant must be at least a graduate, preferably in commerce. Students are selected through an entrance examination. Besides, most institutes conduct their own test followed by group discussion and a personal interview.

Career Prospects:

Owing to the giant leap of India in the international business arena, the requirement for qualified accounts managers is increasingly high. Accounting management has emerged as one of the lucrative career option nowadays. Accounting managers of any company are among the highest paid professionals both in India and abroad. Generally, the expertise and experience of the manager, the type and number of clients served, and geographic location decide the income of accounting managers and accounting planners. These professionals are the unsurpassed members of any business organization.

Remuneration:

A fresh graduate receive a starting salary of Rs.8000-Rs.12000. One can command a higher salary on gaining a few years of experience. . Generally, MNCs and private companies offer higher pay packages in comparison to government departments.