Diploma in Accounting Management (DAM)

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. 

Ans. NCHMCT JEE, WBJEE, AUCET, and CDAC are some of the top entrance examinations for a Diploma in Accounting Management.

(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.