Accounting

Accounting generally refers to the process of recording, summarizing, analyzing, and reporting financial transactions of a business or organization. 

On the other hand, Accountancy is a broader term that encompasses the entire profession and body of knowledge related to Accounting. It refers to the practice of accounting as a profession, including the principles, standards, regulations, and ethical considerations that govern the field. 

Yes, Accounting can be a demanding profession that comes with its own set of challenges, but whether it is considered stressful varies based on individual preferences, work environment, and specific roles within the field. Accountants are responsible for financial reporting, auditing, taxation, and financial analysis, among other tasks. 

No, you cannot become a Chartered Accountant (CA) solely with a Diploma in Accounting. Becoming a CA typically requires completing a rigorous course of study and passing specific examinations set by a recognised professional accounting body, such as the Institute of Chartered Accountants of India (ICAI) in India.

There are two types of financial accounting; Aash Accounting and Accrual Accounting.

Cash accounting is a method of Accounting where transactions are recorded when cash is received or paid out, rather than when revenues are earned or expenses are incurred. 

On the other hand, Accrual accounting is a method of accounting where revenues and expenses are recognised when they are earned or incurred, regardless of when the actual cash transactions occur. 

The annual salary in Financial Accounting in India can vary significantly depending on various factors such as educational qualifications, experience, job location, and the specific industry or organization. 

Generally, salaries can be categorized at different levels based on experience and job roles:

• Entry-Level: INR 2.5 - 4 LPA

• Mid-Level: INR 4 - 8 LPA

• Senior-Level: More than INR 20 LPA

Candidates must have successfully finished their secondary education, or 10+2 from any recognised board with any discipline, with a minimum of at least 50% aggregate marks to be considered for admission to the BCom Honours programme in India

Arkansas State University provides one of the best Accounting courses for international students. It provides a four-year bachelor's programme in Accounting whose tuition cost is INR 11.56L. The course helps students fulfill employment as internal auditors in CPA firms, cost analysts, controllers, tax accountants, members of financial regulatory teams like the IRS or banking auditors, and industrial accountants. Accounting graduates from A-State get jobs in public accounting, government, banking, manufacturing, and not-for-profit organizations.