Your Roadmap on How to Become an Accountant: Education, Certifications & Responsibilities

“Best accountants don’t just interpret numbers, they decipher the language of financial success.” 

An accountant plays a vital role in managing a company’s finances and assets. There’s no company which can function without an accountant, so becoming an accountant in India is a smart and rewarding career choice. You help businesses stay financially healthy, and for this, you need the right education and certifications to stand out. 

The demand for accountants is high, thus, offering great job security. You can easily earn between INR 7 LPA to 30 LPA, depending on experience and organisation. You can work in the public or private sector or even start your practice. The opportunities are endless. By following the right path, you can build a successful career in accounting. It’s a profession that offers both stability and growth. This blog explores how you can become a skilled accountant and unlock many career opportunities. 

Understanding the Role of an Accountant

As an accountant, you handle various financial tasks. You manage budgets, prepare financial statements, audit, and ensure tax compliance. You would also advise clients on financial decisions. This makes your role crucial in maintaining an organisation’s financial health. To succeed, you need attention to detail and analytical skills. A good accountant always follows ethical practices. Become a reliable resource, as businesses trust you with sensitive financial information. 

Also Read: Career Prospects after Accounting

Educational Requirements to Become an Accountant

To start your career, you must have the right education. The minimum qualification is a Bachelor’s degree in commerce (B.Com). It provides a strong foundation in financial accounting, auditing, and taxation. You can also choose specialised accounting courses after your graduation. These include a Bachelor of Business Administration (BBA) with an accounting specialisation. These degrees offer a more focused approach to accounting. Typically, an aspiring accountant follows the below-directed path: 

Bachelor’s Degree in Commerce (B.Com)

The B.Com degree is the most common pathway. The course usually takes three years to complete. You may gain knowledge of accounting systems, regulations, and principles. Many universities offer this degree, making it widely accessible. You can also join an Online B.Com degree .Online degrees offer great flexibility, affordability and accessibility. Many colleges, including Amity University, LPU, and Chandigarh University, offer online Bcom in various specialisations. 

You can choose any specialisation that suits your interests. If you join BCom, you will have some essential topics crucial for an accounting career. It covers essential topics like:

• Financial Accounting

• Business law

• Auditing

• Taxation

• Economics

Master’s Degree in Commerce (M.Com)

To advance your career, you can pursue an M.Com or Master’s degree in commerce. The M.Com programme offers strong insights into finance and accounting. It offers specialisations in taxation, auditing, and cost accounting. This degree adds more value to your qualifications.

You can pursue an M.Com right after completing your B.Com or while working. Many universities in India offer distance learning options, allowing flexibility. You can also pursue an Online M.Com degree if you are a working professional.

Certifications for Accountants in India

Certifications can significantly boost your career prospects. They show your expertise and commitment to professional development. In India, several certifications can enhance your credentials as an accountant. Check out some of the important certifications required for an accountant career.

Chartered Accountancy (CA)

Chartered Accountancy is the most respected certification in the field of commerce. To become a Chartered Accountant (CA) , you must pass the exams conducted by the Institute of Chartered Accountants of India (ICAI). Becoming a CA requires dedication and hard work. The course includes a three-year article-ship, where you gain practical experience under a practising CA.

The CA course is divided into three stages:

1. CA Foundation: Entry-level exam covering basic accounting and taxation.

2. CA Intermediate: Includes auditing, financial management, and cost accounting.

3. CA Final: The last stage covering advanced topics.

Cost and Management Accounting (CMA)

Cost and Management Accounting (CMA) is another prestigious certification. The Institute of Cost Accountants of India (ICAI) offers this course. It focuses on cost management, budgeting, and internal auditing. It emphasises on financial insights to help organisations through reliable financial data and analysis. 

Cost accounting focuses on calculation and evaluation. It aims to determine the cost per unit using different costing methods. The main objective is offering information for managers to make informed decisions. The CMA course has three levels:

1. CMA Foundation: Covers basic financial and cost accounting.

2. CMA Intermediate: Focuses on cost management and financial analysis.

3. CMA Final: Includes advanced topics like strategic management and risk management.

Certified Public Accountant (CPA)

The Certified Public Accountant (CPA) certification is globally recognised. This certification will be helpful if you want to work for multinational companies or overseas. The CPA exam covers subjects like financial accounting, auditing, and taxation. It is offered by the American Institute of Certified Public Accountants (AICPA). A CPA is a licensed accounting expert who meets their state’s accountancy board requirements. CPAs are authorised to offer accounting services to the public and are recognised for their strong technical skills, analytical expertise, and financial advice.

Company Secretary (CS)

The Company Secretary (CS) certification is another option. CS is offered by the Institute of Company Secretaries of India (ICSI). It focuses on corporate governance and compliance. It is useful if you want to specialise in legal and regulatory aspects of accounting. A CS specialises in corporate law, securities law, and capital markets. They also serve as corporate planners and strategic managers. The programme consists of three stages: Foundation, Executive, and Professional. It typically takes 3 to 5 years to complete this course. 

Easy Steps to Become an Accountant in India

The journey to becoming an accountant involves several steps. Let’s look at them in detail.

Step 1: Complete Your 12th Standard

• Pass your 12th class with a commerce stream.

• Subjects like accountancy, economics, and mathematics may help your accounting career.

Step 2: Pursue a Bachelor’s Degree

• Enrol in a B.Com or related degree programme after 12th.

• It covers all the essential topics needed for the role of an accountant.

Step 3: Add Relevant Certifications

• Pursue certifications after degree completion as per your interest.

• Certifications like CA, CMA, and CPA will set you apart in the job market. 

Step 4: Gain Practical Experience

• Practical experience is crucial in accounting. Many courses, like CA and CMA, include internships. 

• Apply for entry-level jobs after completing your degree. Working as an assistant accountant is a great way to gain experience. 

• It will help you develop practical skills and understand real-world accounting challenges.

Step 5: Stay Updated with Latest Regulations

• Accounting regulations change often. You must stay updated with new laws and standards. 

• Attend seminars, workshops, and professional courses to stay informed. 

Responsibilities of an Accountant

An accountant’s responsibilities go beyond preparing financial reports. You will play a significant role in the financial decision-making process. Let’s explore some key responsibilities.

• Maintaining Financial Records: You would be responsible for maintaining accurate financial records. This includes keeping track of transactions, invoices, and payments. 

• Taxation and Compliance: Ensure compliance with tax laws. You calculate taxes, prepare tax returns, and ensure timely payment. Staying updated on tax regulations is crucial for this role. 

• Auditing and Financial Analysis: You audit financial records to ensure accuracy and compliance. Apart from this, you may have to analyse financial data to provide insights and recommendations to management. This helps companies make informed decisions.

• Budgeting and Forecasting: As an accountant, you prepare budgets and financial forecasts. You’ll track expenses and revenue to ensure financial stability. Your insights may help businesses plan for the future.

• Advising Clients: If you work in the capacity of a financial advisor, you offer guidance on investments, cost-saving measures, and financial planning. Your advice would help companies maximise profits and minimise losses.

• Career Opportunities for Accountants in India

Accountants can find opportunities in various sectors. You can work in industries like manufacturing, retail, and healthcare. You can also pursue freelance opportunities or start your own accounting firm. Accountants can find employment in the following sectors: 

• Public Sector: Many government departments hire accountants for roles like tax officers, audit officers, and finance managers. These roles offer job security and growth opportunities.

• Private Sector: In the private sector, accountants work in various industries. You can join companies as a financial analyst, internal auditor, or tax consultant. You can also work for multinational corporations and handle international accounts.

• Self-Employment and Freelance Work: As an accountant, you can work independently. Many small businesses and individuals need accounting services. You can offer services like tax filing, financial planning, and auditing. Freelancing allows flexibility and the chance to build your client base.

Job Nature & Salary Range For Accountants

Check the nature of the job role of an accountant and their description below. 

• Financial Record Keeping: Maintaining accurate financial records.

• Taxation and Compliance: Ensuring tax compliance by calculating taxes.

• Auditing and Financial Analysis: Conducting audits to verify the accuracy of financial records.

• Budgeting and Forecasting: Preparing financial budgets and forecasts to track revenue and expenses.

• Financial Advisory: Offering guidance on financial planning, and investments.

• Reporting and Documentation: Prepare financial statements such as balance sheets, income statements, and reports.

• Compliance and Risk Management: To ensure that the organisation adheres to financial regulations.

• Internal Control: Establishing and maintaining internal financial controls.

Here’s the average salary range based on experience, city and organisation. 

Income of Accountant Based on Experience:

Income of Accountant Based on City:

Income of Accountants in Top Companies:

Source: Glassdoor

Skills Required to Become a Successful Accountant

To succeed as an accountant, you need a blend of technical and soft skills.

• Ability to analyse financial data and identify trends. 

• Attention to detail ensures accuracy in your work.

• Good communication skills help you explain complex concepts in simple terms.

• Ethical Integrity to handle sensitive financial information.

The Bottom Line

Becoming an accountant in India requires dedication, education, and certifications. You can start with undergraduation, followed by relevant certifications, which will set you on the right path. Your role is vital to businesses, providing financial insights and ensuring compliance. The career offers many opportunities, from working in large corporations to freelancing. An accounting career is good if you are detail-oriented, analytical, and ethical. It offers job stability and growth opportunities. Start your journey today and unlock a world of possibilities!