Shiksha Top Questions

The field of accounting is challenging and exciting. It is the field where one becomes familiar with the very finer points of business. So, it becomes a platform for many senior level positions to start with it. The job of accountant is always in demand. Taxes, audits, and book keeping and overall the business scandals keep the demand of accountants hot.
The discipline of Accounting revolves around the mechanism of business track, its income and assets. The domain of accounting encompasses activities like preparing of financial statement, costs computing, mergers & acquisition, recording of business transaction, quality management, tax strategy, etc.
Options after B.Com:
Chartered Accountant (CA)
Most commerce graduates pursue CA, which is a lucrative career option since it renders them with multiple opportunities be it working as a chartered accountant in a big firm or working as an auditor (both internal and external). As an auditor you will need to work with several clients and check financial statements; chances are with a good CA rank you can enter the top-most banks in the world.
You need to clear three examinations for a CA degree Common Proficiency Test (CPT), Integrated Professional Competence Course (IPCC) and Final CA which are conducted by the Institute of Chartered Accountants (ICAI). CPT is an entry-level test; a commerce graduate can directly apply for IPCC exam and after completing its two groups can move to Final CA. Once you complete all levels of Final CA, Congratulations! You are a registered CA degree holder now. A CA can have a great career as an investment consultant or as a fund manager in the long run.
B.Com graduates with a CPT score can opt for a Chartered Financial Analyst (CFA) degree abroad at a recognized university; it comes with some prerequisites which you have to fulfil.
Masters of Commerce (M.Com)
This is a two-year programme. Fresh graduates or students who have completed the Final CA programme are eligible for this degree. This is a broad field to study, which covers areas like accounting, actuarial sciences, economics, statistics, finance and others. M.Com graduates are usually employed in fields like marketing, project management and others. You can also opt for your PhD after completing M.Com.

Hello,
If you are sure that you want to make your career in finance field then M.finance makes more sense.
MBA is a broader course after which you can opt for operations, risk profiles, finance or marketing.
So, all in all, if you are not sure about the next step, MBA will be a safer option.
If you are fine with finance and don't want to change your decision go for M.finance.
You can also opt for MBA in finance. The difference between Masters in financial accounting and an MBA in finance would be the course structure. Masters in accounting will have in-depth knowledge of subjects like accounting wherein MBA will give you an investment banking, accounting and finance perspective.
You can also think and explore other options like a CA or a CFA. Just a tip, be very sure of the colleges you are applying for.
Thanks.
All the best.

Association of Chartered Certified Accountants is a leading international accountancy body. The ACCA qualification is recognised and is treated in other countries as being equivalent to their local qualification. It is definitely a good qualification for those want to make their career as 'Accountants'. It has good scope into Accountancy.
MBA in finance can play various roles and get a job in some finance, banking, insurance, asset management or some other related company. Finance is the life blood of business. In such a scenario the aspirant will surely grow as experience grows. Students pursuing an MBA in Finance gain the business and financial skills needed to work in a number of enterprises. They often have access to top-notch internship opportunities while still in school, and they generally command better positions and higher salaries upon graduation.
Jobs after MBA in Finance
Accounting Manager.
Chief Financial Officers.
Cash Managers.
Manager Consultants.
Investment Banking Associates.
Credit Managers & Specialists.
Financial Analyst.
Corporate Controllers.
Moreover, MBA creates managers and ACCA creates Accountants.

The CFA Institute provides the following breakdown of the most common professions:
5% Relationship Manager.
16% Research Analyst.
7% Chief Executive.
7% Consultant.
5% Corporate Financial Analyst.
5% Financial Advisor.
23% Portfolio Manager.
6% Risk Manager.
Jobs after MBA Finance.
Accounting Manager.
Chief Financial Officers.
Cash Managers.
Manager Consultants.
Investment Banking Associates.
Credit Managers & Specialists.
Financial Analyst.
Corporate Controllers.
Both the qualifications will be like jam and butter on the bread.
The average salary can be expected somewhere around 15-25 lakhs per annum. It will although, require a lot of hard work. However, it will be a dream come true.