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Importance Of A Degree In Finance And Accounting

The Finance and Accounting degree not only provides an understanding of accounting practices, principles, finance, and industry but, offers a blend of knowledge and skill sets which can make you ready for any industry.

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The Indian economy has witnessed an extensive transformation over the past few years. There has been a significant progression in the areas of digital payments, E-Commerce, net banking, etc. Not only is the financial sector taking exciting twists and turns with the digitalization, but, various other sectors have showcased improvements. Taking the education sector into consideration, the demand for courses in accounting and finance has also increased with the changing trends. There are different factors that a student considers before enrolling for accounting or finance courses. One of those is the benefits that the degree brings to a student. Let’s start with analysing the key benefits of undergoing Finance and Accounting course:

Advantages of a Finance and Accounting Degree:

Endless Job Opportunities: One of the perks a student enjoys after getting an accounting degree is that they are open to an extensive number of opportunities. Accountants and finance professionals are a need for every organization. Thus, the requirement for finance candidates never sees a decline.

Open for any Industry: Irrespective of the sector or industry, finance professionals, enjoy the privilege of exposure to any industry they wish to work in. Students get the opportunity to work in different industries and then, identify the best path for their career.

Opportunities for Graduate Schemes: Few of the top multinational organisations introduce their graduate schemes, wherein, they hire the graduates from different areas like finance, accounting, business, etc. to join them and work under their program. Firms like KPMG and PWC are few of those that hire students from a finance background. Graduates in finance and accounting have a chance of getting hired in these prestigious companies and get structured training as well as get clear career growth.

The Finance and Accounting degree is highly advantageous, however, getting a seat in the course is not easy. A student is expected to be proficient with mathematics to clear the entrance examinations and meet the necessary entry-level requirements of the course.

Skills from the Degree:

The Finance and Accounting degree not only provides an understanding of accounting practices, principles, finance, and industry but, offers  a blend of knowledge and skill sets which can make you ready for any industry. There are a set of specific skills that the degree delivers throughout the entire duration of the course. Below mentioned are skills attained by the students:  

-Numerical Skills

-Strong aptitude skills

-Communication Skills [Written and Oral]

-Understanding of International Finance

-Commercial Awareness

-Negotiation and Convincing Skills

Job Opportunities for Graduates:

The job opportunities for finance students are tremendous in the Indian economy. The requirement for finance professionals is a must in every organization. The recruiters hire finance and accounting graduates on different profiles. Below mentioned are few top profiles that ensure a promising career for finance graduates:

-Data Analyst

-Management Consultant

-Tax Adviser

-Taxation Officer

-Economist

-Accountant

-Tax Consultant

-Chartered Accountant

-Company Secretary

The principal advantage that Finance and Accounting graduate possesses is that they become industry ready and can join any organization right after the completion of their course. The recruiters lay a considerable focus on the financial understanding of the students followed with the skills mentioned above during the time of placement process.

The career opportunities in the finance and accounting domain are booming. According to Statista, Digital payments have become the largest segment valued at US$ 51,756 million in the year 2018. The FinTech culture in India is emerging rapidly, which has further led to a demand for finance and accounting professionals. 

Students nowadays prefer a career in finance and accounting degree as it is extremely lucrative. Students across the country are seeking admission into thetop colleges for B.Com in India.However, getting a seat into the top institution is not easy, due to increasing competition. Aspirants prefer metro cities for their higher education, due to the industry exposure and the plethora of job opportunities available in multinationals located in metros.

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


Dr Kulneet Suri

The author is Senior Director at Institute of Management Studies (IMS) Noida

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