1 Years
Diploma
Management
Full Time
About Course
The Diploma in Accounting Management is designed to train students in account management. It equips students with the necessary knowledge and skills in management, covering topics such as company management systems, procedures, and policies. The course aims to enhance management efficiency and effectiveness by providing students with an understanding of various aspects of financial information, including its identification, measurement, accumulation, analysis, preparation, interpretation, and communication. Additionally, students explore subjects like marketing organization and methods, industrial relations and personnel management, advanced management techniques, and more.
Based on the All India Examination, the majority of government banks hire graduates for a variety of positions. Although graduates from the commerce stream are preferred, anyone can enter this area by passing the entrance tests held by banks each year. At senior levels, banks favour senior bankers with experience.
Course Highlights
Check the important course details Diploma in Accounting Management in the table given below:
| Particular | Value |
| Course Name | Diploma in Accounting Management |
| Course Level | UG Level |
| Course Duration | 1 Year |
| Eligibility Criteria | 10+2 |
| Entrance Exams | WBJEE, AUCET, CDAC |
| Admission process | Admission Based On Merit. |
| Examination Type | Semester based |
| Age | No age limit |
| Average Annual Fees | INR 10,000-1 LPA |
| Average Annual Salary | INR 2,17,000-10,000,00 |
| Top recruiters | HP, ICICI Bank, McKinsey & Company, Microsoft, Goldman Sachs, IBM Deloitte, Sony, etc |
| Job Profiles | Management Accountant, Finance Analyst, Finance Director, Management Accountant, etc |
Why study Diploma in Accounting Management?
When someone talks about their career, a common question is, "WHY? Similar questions arise here, "Why Diploma in Accounting Management? Before choosing this course and a career in banking and insurance, there are many things to think about.
(i). The Banking and Insurance
sector currently employs over 5 million professionals, according to the NSDC
report. There are numerous opportunities in this industry, which is one of
India's leading employers of young, strong talent.
(ii). The most common reasons for Diploma in Accounting Management are, among other things, the opportunity to develop and enhance managerial and entrepreneurial skills, a competitive salary, improved career prospects, and faster access to real-world opportunities.
(2).
Admission Process
The admissions process for
the course may vary from Diploma
in Accounting Management depending on the school to which you are applying.
Types
of Diploma in Accounting Management
Full-time,
part-time and remote alternatives are available to applicants for the route.
Below you will find the following information:
(1).
Distance Remote or Online: is
intended for those unable to attend regular sessions; The web-based Diploma in
Accounting Management is a preferred alternative.
(2). Full-time: Diploma in Accounting
Management is a one-year course that allows students to accelerate their learning
methods and significantly expand their knowledge.
(3).
Part-Time: The part-time course is
aimed at professionals who are currently employed and cannot take time off to
study full-time. A part-time postgraduate course will be of great benefit.
Eligibility
Criteria
Below
are some important factors to consider when submitting your application form:
1.
Applicant
must have completed 10+2 on an approved board.
2.
To
be accepted for this position, the candidate must pass all subjects in 10+2.
3.
The
course is available to candidates of all disciplines.
The course is available to candidates of all disciplines.
Accepted Entrance Exam
Most popular colleges offer admission to courses Diploma in Accounting Management based on merit. However, some colleges also test applicants for admission to a Diploma in Accounting Management Management through an entrance exam. The entrance exams for these courses are primarily required to assess candidates on multiple-choice questions in subjects such as general knowledge, English, and reasoning. While there are not many specific entrance exams for culinary arts courses, applicants can pass some popular entrance exams that can qualify them for admission to courses.
| NCHMCT JEE | WBJEE |
| AUCET | CDAC |
| GNIHM JET | IIHM eCHAT |
Skills
Required
To
pursue a career in Diploma in Accounting Management, candidates must bring a
love of food and a service-oriented approach. Here are some of the key skills a
candidate should possess when considering taking a Diploma in Accounting
Management:
| Communication Skills | Writing Skills | Project Management |
| Observation skills | Communication skills | Problem-solving |
| Analytical and Critical thinking skills | Time management | Decision-making skills |
| Planning and Good Management | Team Work | Leadership skills |
Fee Structure
The FEE for some of the top colleges' Diplomas in Accounting Management is listed below:
| Name of College | Average Annual Fee(INR) |
| Loyola Institute of Business Administration is a private business school, Chennai | INR 1,00,500 |
| Symbiosis Institute of Management Studies, Pune | INR 1,31,000 |
| Sree Narayana College, Thrissur District of Kerala | INR 24,440 |
| UPES, Dehradun | INR 82,000 |
| St. Xavier's College, Kolkata | INR 1,20,000 |
| Amity University, Noida | INR 3,00,000 |
| The Indian Institute of Social Welfare & Business Management, Kolkata | INR 5,15,000 |
| Chandigarh University, Punjab | INR 40,000 |
| Institute of Management Technology, Ghaziabad | INR 44,900 |
| IMU Chennai - Indian Maritime University, Chennai | INR 2,25,000 |
Selection Criteria
The selection process for this course is students must complete 10+2 with 50% from the recognized board and also they have to clear the entrance test. Some colleges conduct interviews for this course. After this process, students who have been selected will get an email from the respective university.
Course
Comparison
Diploma in Accounting Management v/s Diploma in Logistics Management
A diploma in Accounting Management and Diploma in Logistics Management are two distinct courses one focuses on account management and the other focus on sales management:
| Parameter | Diploma in Accounting Management | Diploma in Logistics Management |
| Course Name | Diploma in Accounting Management | Diploma in Logistics Management |
| Course Overview | The Diploma in Accounting Management is designed to train students in account management. It equips students with the necessary knowledge and skills in management, covering topics such as company management systems, procedures, and policies. | A logistics management degree conveys the basic concepts relating to logistics and plays an important role in event and sales management |
| Duration | 1 Year | 1 to 2 Years |
| Eligibility | Passed 10+2 from an authorized board. | Passed 10+2 from an authorized board. |
| Entrance Exams | NCHMCT JEE, IHM, WBJEE, AUCET, CDAC, etc | WBJEE, AUCET, CDAC, etc |
| Average Annual Fees | INR 10,000-1 LPA | INR 20,000 to 1,00,000 |
Top
Colleges
Diploma in Accounting Management provided at many universities across the country. Some of the top colleges offering this course have been mentioned below with several other details:
| Name of College | Average Annual Fee(INR) | Location |
| Loyola Institute of Business Administration is a private business school | INR 1,00,500 | Chennai |
| Symbiosis Institute of Management Studies | INR 1,31,000 | Pune |
| Sree Narayana College | INR 24,440 | Thrissur District of Kerala |
| UPES | INR 82,000 | Dehradun |
| St. Xavier's College | INR 1,20,000 | Kolkata |
| Amity University | INR 3,00,000 | Noida |
| The Indian Institute of Social Welfare & Business Management | INR 5,15,000 | Kolkata |
| Chandigarh University | INR 40,000 | Punjab |
| Institute of Management Technology | INR 44,900 | Ghaziabad |
| IMU Chennai - Indian Maritime University | INR 2,25,000 | Chennai |
Job
& Placements
A
Diploma in Accounting Management opens up various job opportunities in various
industries. Here are some job profiles you can consider
Job
Profile
| Job Profile | Job Description |
| Underwriter of Accounts | Accounts applications are evaluated and the risks associated with insuring individuals or businesses are determined by an insurance underwriter. They decide on coverage and premium rates after evaluating data and policy terms. |
| Claims Manager | A case agent researches and assesses protection claims recorded by policyholders. They look at claims for validity, gather evidence, talk to people who are involved, and figure out how much money will be covered and paid |
| Agent for insurance sales | Insurance policies are promoted and sold to individuals or businesses by an insurance sales agent. They meet with potential customers, explain various insurance options, help them choose a policy, and offer guidance on benefits and coverage. |
| Analyst in Risk | A company's risk analyst identifies and develops strategies to manage and reduce those risks. They recommend strategies for risk management by looking at financial data, market trends, and industry regulations |
| Specialist in Insurance Marketing | Marketing Strategies for insurance products and services are developed and implemented by insurance marketing specialists. They collaborate with sales teams to generate leads and increase customer acquisition, create marketing campaigns, manage advertising and digital media efforts, and conduct market research. |
| Analyst in Account Operations | A company's account operational functions are supported by an insurance operations analyst. They look at data, keep an eye on the processes used to administer policies, find ways to make things better, help put new systems or technologies into place, and make sure that regulations are followed |
| Manager of Claims | An insurance company's claims handling procedure is overseen by a claims manager. They are in charge of supervising a group of claims adjusters, resolving difficult problems, making sure that claims are processed in a timely and accurate manner, and putting strategies into action to increase productivity and satisfy customers. |
Top Recruiters
Listed here some of the top recruiters who hire for a Diploma in Accounting Management are listed below:
| IBM | IDFC Bank | Goldman Sachs |
| INNOWAR | HP | Microsoft |
| LIC | McKinsey & Company | Deloitte |
| HDFC | ICCI Bank | TCS |
Average Salary
Below are job profiles with approximate salaries:
| Job Role | Average Annual Fee(INR) |
| Management Accountant | INR 5,75,000 |
| Credit and Risk Manager | INR 8,00,000 |
| Loan Counsellor | INR 3,50,000 |
| Finance Analyst | INR 9,00,000 |
| Finance Director | INR 4,78,000 |
| Internal Auditor | INR 6,00,000 |
Career/Scope
Accounting is a trillion-dollar industry with a staggering number of employees. There are numerous opportunities for career advancement and advancement in this industry, which is both stable and active. The need for insurance professionals is also growing as wealth and population increase.
Most government banks hire graduates for various positions based on the All India Examination. There is a preference for graduates from the commerce stream, but anyone can get into this field by passing the entrance exams that banks hold every year. Banks prefer experienced bankers at senior levels.
Career Options for Diploma in Accounting Management
Some
of the popular professional avenues open to successful graduates/ postgraduates
of the course are listed below with the corresponding salaries offered for the
respective positions.
(i). Underwriter of Accounts: Applications are evaluated and the risks associated with accounts individuals or businesses are determined by an insurance underwriter. They decide on coverage and premium rates after evaluating data and policy terms.
(ii). Claims Manager: A case agent researches and assesses protection claims recorded by policyholders. They look at claims for validity, gather evidence, talk to people who are involved, and figure out how much money will be covered and paid.
(iii). Agent for insurance sales: Insurance policies are promoted and sold to individuals or businesses by an insurance sales agent. They meet with potential customers, explain various insurance options, help them choose a policy, and offer guidance on benefits and coverage.
(iv). Risk Analyst: A company's risk analyst identifies and develops strategies to manage and reduce those risks. They recommend strategies for risk management by looking at financial data, market trends, and industry regulations.
(v). Analyst in Account Operations: An company's account operational functions are supported by an insurance operations analyst. They look at data, keep an eye on the processes used to administer policies, find ways to make things better, help put new systems or technologies into place, and make sure that regulations are followed.
(vi). Manager of Claims An insurance company's claims handling procedure is overseen by a claims manager. They are in charge of supervising a group of claims adjusters, resolving difficult problems, making sure that claims are processed in a timely and accurate manner, and putting strategies into action to increase productivity and satisfy customers.
Scope for Higher Education
A diploma in Accounting is vast, which gives candidates a chance to pursue higher studies after obtaining the degree. The following are some of the best higher education programs Certification Courses, PG in Insurance.
Skills that make you the Best
Financial analyst, finance manager, financial assistant, credit analyst, chief financial officer, and many other occupations are available in the finance and accounting field. Regardless of your position or years of experience, most employers in finance and accounting look for the technical abilities listed below:
(i). Financial reports: The capacity to create financial reports
Financial statements offer a clear picture of an organization's financial
situation. These are documents that provide information about the operations
and financial standing of a firm. The main components of financial statements
are balance sheets, income statements, and cash flow statements.
(ii).
Knowledge of accounting: Businesses and industries in the United States are
required to adhere to GAAP in their accounting procedures, and accountants are
required to be knowledgeable about GAAP to assess financial records.
(iii).
Data analysis: The most valuable resource for a company is its financial data.
It affects important business choices and serves as a benchmark for an
organization's success. Raw financial data, however, is useless unless it can
be used to gain an understanding and guide company decisions.
(iv).Accounting Skills: Being technically proficient and knowledgeable in a particular field is not the only requirement to survive in today's corporate culture. Soft skills, also known as interpersonal skills, are necessary for a job in finance and accounting because they enable you to have meaningful interactions with co-workers, clients, and other stakeholders.
FAQs
(1). What is a Diploma in Accounting Management?
Ans. The Diploma in Accounting Management is designed to train students in account management. It equips students with the necessary knowledge and skills in management, covering topics such as company management systems, procedures, and policies.
(2). What is the average fee structure for Diploma in Accounting
Management?
Ans. The average Diploma in Accounting Management fees charged by colleges or universities in India lies between Rs. 10,000-1 LPA per year.
(3).
What is the expected salary for Diploma in Accounting Management?
Ans. The
expected salary for a Diploma in Accounting Management graduate is around INR 2,17,000-10,000,00 per annum.
(4).
What are the eligibility criteria for admission to Diploma in Accounting
Management?
Ans. The eligibility standard for Diploma in Accounting Management is that applicants have to have finished 10+2 from a recognized board.
(5).
What is the admission process for Diploma in Accounting Management ?
Ans. The admission process for Diploma in Accounting Management is both merit-based and entrance based.
(7). What are some of the best colleges
for this course program?
Ans.
The best Colleges for this program are Sree Narayana College, Institute of
Management Technology, IMU Chennai - Indian Maritime University, etc.
(8). What are some of the
most popular job profiles for a Diploma in Accounting Management?
Ans.
Popular job profiles for this course are Management Accountant, Finance
Analyst, Finance Director, Management Accountant, etc
(9). What are the top recruiters of the Diploma in Accounting Management?
Ans. HP, ICICI Bank, McKinsey & Company, Microsoft, Goldman Sachs, IBM Deloitte, Sony, etc are some of the top recruiters of Diploma in Accounting Management.
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