Accounting & Commerce

Finance is one of the major aspect for every individual as well an organization, not only the sources of finance are important but also its optimum utilization and planning is required to increase the profitability. At the same time accounting helps to maintain clear records of all financial transactions which helps for smooth functioning of organization
A BAF student acquires specialized knowledge for the same and further the candidate can enhance their knowledge by pursuing M.Com in finance or MBA in finance and can also opt.
Advantages of BAF:
1. More emphasizes on accounting career.
2. Professional degree.
3. Better accounting knowledge compared to B.Com.
4. More job opportunities as accounting and finance is heart of every organization.
Disadvantages of BAF:
1. Subjects like import export trade, commerce, etc. are neglected.
2. Lower management knowledge skills compared to BMS.

Finance is one of the major aspect for every individual as well an organization, not only the sources of finance are important but also its optimum utilization and planning is required to increase the profitability. At the same time accounting helps to maintain clear records of all financial transactions which helps for smooth functioning of organization
A BAF student acquires specialized knowledge for the same and further the candidate can enhance their knowledge by pursuing M.Com in finance or MBA in finance and can also opt.
Advantages of BAF:
1. More emphasizes on accounting career.
2. Professional degree.
3. Better accounting knowledge compared to B.Com.
4. More job opportunities as accounting and finance is heart of every organization.
Disadvantages of BAF:
1. Subjects like import export trade, commerce, etc. are neglected.
2. Lower management knowledge skills compared to BMS.

1. One year Diploma in accounting finance taxation banking and payroll management course.
2. Diploma in financial management.
3. Diploma in accounting and auditing Diploma in taxation and Diploma in accountancy
4. Chhattisgarh University - Diploma in accounting.
5. Chhattisgarh University - Diploma in audit and control.
6. Chhattisgarh University - Diploma in financial decision and analysis.
7. Davangere University - Diploma in accounting and taxation.
8. Dr. Babasaheb Ambedkar Open University - Diploma in advance accounting.
9. Henry Baker College, Kottayam - Certificate course in accounting package-Tally.
10. TSF Institute Computer Education - Diploma in accounting through Tally.
11. University of Mumbai - Diploma in tax procedure and practice.
12. University of Mumbai - Diploma course in tax procedure and practice.
13. University of Pune - Post graduate Diploma in accountancy.

Financial accounting:
Financial accounting is mostly known as accrual-based accounting. Under the accrual method, companies record sales revenues and purchase expenses, when they are earned and incurred, regardless of whether cash from sales has been collected and cash for purchases has been paid. To determine a sale or purchase transaction date for recording, companies need to ascertain the completeness of a sale or purchase. Unfinished delivery of goods or services and partially receiving from a purchase don't account for an earned revenue and incurred expense. Recording doesn't take place until the completion of the sale or purchase orders.
Tax accounting:
Tax accounting often is referred to as cash-based accounting, and thus focuses primarily on actual cash receipts and cash payments, rather than their related sale or purchase transactions. Companies don't record a sale or purchase transaction at the time of the transaction until cash is received or paid later. Small businesses with annual sales of $5 million or less may elect to use the tax accounting to help them better manage their cash positions, which hold more significance to a small business's survival than a larger company.