MBA (Accounting): Courses, Admission, Syllabus, Colleges, Eligibility, Entrance Exam, Career Scope and Salary

(1). About the Course

 

MBA in Accounting is a specialized business program that focuses on developing skills and knowledge related to accounting and financial management within a business context. This course is designed for individuals who wish to advance their careers in the field of accounting, finance, or related areas. The curriculum of an MBA in Accounting typically covers a wide range of subjects, including financial accounting, managerial accounting, taxation, auditing, financial analysis, and strategic financial management. Students learn about the principles and practices of accounting, financial reporting, budgeting, cost analysis, and financial decision-making.

 

The program provides a comprehensive understanding of financial systems, regulations, and ethical considerations in accounting. Students also gain proficiency in using accounting software and tools commonly employed in the industry. Case studies, group projects, and interactive sessions are often incorporated to enhance practical application and problem-solving skills. By pursuing an MBA in Accounting, graduates acquire the expertise required to navigate complex financial situations, make informed business decisions, and effectively manage financial resources. They are prepared for various roles in the accounting and finance departments of organizations, including financial analyst, auditor, controller, tax consultant, or management accountant. Overall, an MBA in Accounting equips individuals with a strong foundation in accounting principles, financial management strategies, and analytical skills necessary to succeed in today's competitive business environment.

 

Overview of the Course

 

Here are the highlights of the course MBA in Accounting:

 

Course Level	Post-graduation
Name	Master of Business Administration in Accounting
Duration	2 years
Examination Type	Semester-based
Eligibility	Bachelor's degree in any discipline with a minimum of 50% score
Admission Process	Entrance Exam based
Average Course Fee	INR 4,00,000 to INR 10,00,000
Average Salary Package	INR 8,00,000 to INR 20,00,000
Top Recruiting Companies	Genpact, Tata Consultancy Services Limited, WNS Global Services, Wipro Technologies Ltd., Tata Motors, Bharat Sanchar Nigam Limited (BSNL), National Small Industries Corporation Limited (NSIC), Heavy Engineering Corporation Limited (HEC Ltd)
Job Position	Accounting Educators, Chief Compliance Officers, Chief Financial Officers, Controllers, Environmental Accountants, Financial Analysts, Financial Managers, Forensic Accountants or Fraud Investigators, Internal Auditors, International Accounting Specialists, IT Asset Managers, Management Accountants

Why MBA Accounting?

 

There could be numerous reasons behind choosing an MBA in Accounting. Here are a few of them:

 

(1). Job Diversity and Security: A marketing, business, and finance focus are prevalent in MBA in Accounting courses. Graduates of this advanced education generally have a variety of professional work opportunities available to them.

 

(2). Certification Preparation: The MBA in accounting prepares students for a career as a certified public accountant (CPA). The graduate can also earn other certifications, such as a certificate in internal auditing or a certificate in management accounting.

 

(3). Increased Salary: Strategic planning and leadership are only two of the numerous employable talents that an MBA teaches. According to Payscale, as of April 2022, MBA graduates in finance and accounting make an extra USD 20,000 a year more than accountants with bachelor's degrees do on average.

 

(2). Admission Process

 

The most common mode of admission that most MBA Accounting colleges follow is based on examinations conducted commonly by the central government or by certain universities, such as CAT, MAT, XAT, etc.

 

Types

 

In India, the Master of Business Administration (MBA) in Accounting program is primarily offered in two modes: full-time and part-time/distance learning. Let's explore each mode in more detail:

 

(1). Full-Time MBA in Accounting

 

The full-time MBA in Accounting is a regular two-year program offered by various universities and business schools in India. It is designed for students who can commit to full-time study and want to immerse themselves in a rigorous academic curriculum. Here are some key features of the full-time MBA in Accounting:

 

Classroom-based learning	Students attend classes regularly and engage in face-to-face interactions with faculty and peers.
Comprehensive curriculum	The program covers a broad range of business and accounting topics, including financial accounting, managerial accounting, taxation, auditing, corporate finance, and more.
Internships and industry exposure	Many full-time MBA programs in accounting offer opportunities for internships, summer placements, and industry projects to provide practical exposure and enhance students' understanding of real-world accounting practices.
Networking opportunities	Full-time MBA programs often organize guest lectures, industry events, and networking sessions to facilitate interactions with professionals from the accounting and finance sectors.
Campus placements	At the end of the program, students typically participate in campus recruitment drives where companies from various industries, including accounting firms, financial institutions, and corporations, conduct interviews and offer job placements.

(2). Part-Time/Distance Learning MBA in Accounting

 

Part-time or distance learning MBA programs in Accounting are designed for working professionals or individuals who cannot pursue full-time studies due to various reasons. These programs offer flexibility in terms of schedule and allow individuals to balance their work and study commitments. Here are some characteristics of a part-time/distance learning MBA in Accounting:

 

Flexible learning options	Part-time or distance learning programs often offer a combination of online classes, weekend classes, and study materials that can be accessed remotely.
Self-paced learning	Students have the flexibility to study at their own pace, which allows them to continue working while pursuing the degree.
Experienced faculty and industry practitioners	Many part-time MBA programs involve faculty members who are industry experts or practitioners, providing a blend of theoretical knowledge and practical insights.
Limited networking opportunities	Compared to full-time programs, part-time or distance learning programs may have limited opportunities for networking and industry exposure.
Job continuity	Since part-time programs cater to working professionals, individuals can continue their employment while upgrading their skills and knowledge in accounting.

Eligibility

 

(1). Candidates must possess a bachelor's degree from an accredited institution with a minimum grade point average of 50% or equivalent. It should ideally be in business administration, accounting, or business with a focus on accounting.

 

(2). Applicants must sit for university-level exams like MAT, CAT, UPSEE, XAT, MAH CET, etc.

 

(3). A typical two- to three-year period of professional job experience may be taken into account, depending on the sort of college or university.

 

Entrance Exams 

 

(1). The Common Admission Test (CAT).

(2). The Management Aptitude Test(MAT)

(3). The Xavier’s Aptitude Test(XAT)

(4). The Symbiosis National Aptitude Test(SNAP)

(5). The Common Management Admission Test

(6). The IBS Aptitude Test

 

Skills Required

 

Here are the skills required in the field of accounting presented:

                                                         

Financial Analysis	Communication	Generally Accepted Accounting Principles (GAAP)
Budgeting and Forecasting	Analytical Thinking	Taxation Laws and Regulations
Auditing	Attention to Detail	Financial Reporting Standards
Bookkeeping	Problem-Solving	Cost Accounting
Data Analysis	Teamwork	Auditing Standards
Excel Proficiency	Time Management	Financial Management
ERP Software Knowledge	Adaptability	Business Laws and Regulations
IT Systems and Software	Leadership	Risk Management

Fees Structure

 

Here are the list of top Colleges in the field of accounting presented:

 

MBA Accounting Colleges	Average Fees
Indian Institute of Management (IIM) Kolkata	2700000
Indian Institute of Management (IIM) Kozhikode	2050000
Indian Institute of Management (IIM) Bengaluru	2600000
Xavier School of Management	1400000
Indian Institute of Management (IIM) Lucknow	2075000

Selection Process

 

(1). The selection process for MBA programs in India typically involves several stages to ensure the admission of qualified candidates. The process begins with candidates appearing for a common entrance exam such as CAT, MAT, XAT, or GMAT, which assesses their aptitude in various areas. Once the entrance exam results are declared, candidates submit their applications to the universities or institutions of their choice. The applications include details of educational qualifications, work experience, references, and a statement of purpose. Based on the applications, the institutions shortlist candidates for further evaluation. Shortlisted candidates may be required to participate in a group discussion or write an essay to assess their communication skills and critical thinking abilities.

 

(2). The next stage is the personal interview, where candidates' knowledge, problem-solving skills, leadership potential, and motivation for pursuing an MBA are evaluated. Throughout the process, academic performance and work experience are also taken into consideration. The final selection is based on the candidates' performance in the entrance exam, group discussion or written ability test, personal interview, academic record, and work experience. The selected candidates are then offered admission to the MBA program. Applicants need to review the specific selection criteria and weightage of each stage as they may vary across institutions. Consulting the official websites of the respective universities or institutions is advisable for detailed information on the selection process.

 

(3). Course Comparison

 

Here is a course comparison between MBA Accounting and MBA Finance:

 

Name	MBA Accounting	MBA Finance
Qualification	Master of Business Administration in Accounting	Master of Business Administration in Finance
Overview	MBA Accounting concentrates on learning specific application-level principles about accounting, taxation, etc.	MBA Finance includes studies of valuation models such as the Capital Asset Pricing Model (CAPM), Arbitrage Pricing Theory (APT), Equity Valuation, etc.
Duration	2 years	2 years
Eligibility	A bachelor's degree in any discipline with a minimum of 50% marks or an equivalent CGPA	A bachelor's degree in any discipline with a minimum of 50% marks or an equivalent CGPA
Course Objective	Prepares students for cost accounting, financial accounting, auditing, financial reporting compliance, tax preparation	Prepares students for financial planning, banking, and corporate finance
Average Annual Fees	INR 4,00,000 to INR 10,00,000	INR 7,00,000 to INR 20,00,000
Average Salary Package	INR 8,00,000 to INR 20,00,000	INR 10,00,000 to INR 25,00,000
Job Positions	Financial Analyst, Management Accountant, Financial Planner, Risk Manager, Mergers and Acquisitions Analyst, Strategic Planning Director	Financial Analyst, Corporate Finance Officer, Assistant Vice-President in Corporate Banking, Credit Risk Manager, Portfolio Manager, Treasury

(5). Top Colleges

 

Here is the list of top colleges for an MBA in Accounting:

 

S.No.	College Name	City
1	Indian Institute of Technology Bombay	Mumbai
2	Indian Institute of Technology Delhi	New Delhi
3	Indian Institute of Technology Madras	Chennai
4	Indian Institute of Technology Kanpur	Kanpur
5	Indian Institute of Technology Kharagpur	Kharagpur

(5). Job and Placements

 

An MBA in Accounting can open up various job opportunities in the finance and accounting field. Here are some common job roles and potential placements for individuals with an MBA in Accounting:

 

Job Roles	Description
Financial Analyst	Financial analysts analyze financial data, prepare reports, and provide recommendations for investment decisions. They work in investment firms, corporate finance departments, banks, and other financial institutions.
Corporate Accountant	Corporate accountants are responsible for managing financial records, preparing financial statements, and ensuring compliance with accounting standards. They work in corporations of all sizes, including multinational companies.
Tax Manager	Tax managers oversee tax planning and compliance for organizations. They ensure that businesses adhere to tax regulations, minimize tax liabilities, and identify tax-saving opportunities. Tax managers can work in accounting firms, consulting firms, or within the tax departments of corporations.
Internal Auditor	Internal auditors evaluate an organization's financial and operational processes to identify potential risks, ensure compliance with regulations, and recommend improvements. They work within organizations or in consulting firms.
Financial Controller	Financial controllers manage an organization's accounting operations, including financial reporting, budgeting, and financial analysis. They often work in large corporations and oversee the finance and accounting departments.
Management Consultant	Management consultants provide expert advice to organizations on various business aspects, including financial management, strategy, and operational efficiency. They work in consulting firms and help clients improve their financial performance and optimize processes.
Investment Banker	Investment bankers work in investment banks and help clients raise capital, facilitate mergers and acquisitions, and provide financial advisory services. They analyze financial data, conduct valuations, and negotiate deals.
Financial Planning and Analysis (FP&A) Manager	FP&A managers analyze financial data, develop financial forecasts, and provide insights to support strategic decision-making. They work closely with the management team and often in large corporations.
Risk Manager	Risk managers assess and manage potential risks that may affect an organization's financial performance. They develop risk management strategies and implement risk mitigation measures. Risk managers work in various industries, including banking, insurance, and corporate sectors.
Financial Consultant	Financial consultants provide personalized financial advice to individuals or businesses. They help clients with investment planning, retirement planning, tax planning, and wealth management.

Employment Areas

 

Corporate Sector

Accounting Firms

Financial Institutions

Consulting Firms

Government and Nonprofit Organizations

Entrepreneurship and Startups

Education and Research

International Organizations

E-commerce and Technology Companies

Manufacturing and Service Industries

 

Top recruiter's job roles and average annual salary  

 

Here's a table showcasing some top recruiters, job roles, and average annual salaries in the field of MBA:

 

Top Recruiters	Job Roles	Average Annual Salary (in INR)
Deloitte	Financial Analyst	6,00,000 - 12,00,000
PricewaterhouseCoopers (PwC)	Management Consultant	8,00,000 - 15,00,000
Ernst & Young (EY)	Tax Consultant	6,50,000 - 10,00,000
KPMG	Audit Manager	7,50,000 - 12,00,000
Goldman Sachs	Investment Banking Analyst	9,00,000 - 15,00,000
JP Morgan Chase	Financial Risk Manager	10,00,000 - 18,00,000
Citibank	Relationship Manager	7,00,000 - 12,00,000
Amazon	Operations Manager	9,00,000 - 15,00,000
Microsoft	Product Manager	10,00,000 - 20,00,000
Procter & Gamble (P&G)	Brand Manager	8,00,000 - 14,00,000
Hindustan Unilever Limited	Marketing Manager	8,00,000 - 14,00,000
Tata Group	Business Development Manager	7,50,000 - 12,00,000
Aditya Birla Group	Strategy Analyst	7,50,000 - 13,00,000
ITC Limited	Supply Chain Manager	7,00,000 - 12,00,000
Infosys	IT Consultant	6,00,000 - 10,00,000

(6). Scope

 

The scope of an MBA in Accounting is quite promising. With this degree, individuals gain a comprehensive understanding of financial management, accounting principles, and business operations. This knowledge equips them to pursue a range of career opportunities in diverse sectors. The demand for accounting professionals remains consistently high across industries, as every organization requires effective financial management and compliance with accounting standards. Graduates with an MBA in Accounting can explore roles such as financial analyst, corporate accountant, tax manager, internal auditor, financial controller, management consultant, and more. They can find employment in corporate firms, accounting firms, financial institutions, consulting companies, government agencies, and nonprofit organizations. Additionally, this degree opens avenues for entrepreneurship and research opportunities. The global nature of business and finance also offers the possibility of international career prospects. Continuous developments in technology and the rise of data analytics further enhance the scope of this course, as accountants with advanced analytical skills are in high demand. Overall, an MBA in Accounting provides a strong foundation for a rewarding and versatile career in the financial and accounting field.

 

Career Options after the Course

 

(1). Financial Analyst

(2). Management Consultant

(3). Tax Consultant

(4). Audit Manager

(5). Investment Banking Analyst

(6). Financial Risk Manager

(7). Relationship Manager

(8). Operations Manager

(9). Product Manager

(10). Brand Manager

(11). Marketing Manager

(12). Business Development Manager

(13). Strategy Analyst

(14). Supply Chain Manager

(15). IT Consultant

 

Scope for higher studies

 

(1). Doctoral (Ph.D.) programs in Business Administration or specialized fields like Finance, Marketing, Operations, etc.

(2). Postgraduate programs such as Executive MBA (EMBA) for mid-career professionals looking to enhance their leadership and managerial skills.

(3). Specialized certification programs in areas such as data analytics, project management, finance, or digital marketing.

 

Skills that make you a good employee after the Course

 

(1). Strong analytical and problem-solving skills

(2). Effective communication and presentation skills

(3). Leadership and team management abilities

(4). Strategic thinking and decision-making capabilities

(5). Financial analysis and data interpretation skills

(6). Ethical and professional conduct

(7). Proficiency in using relevant software and tools (e.g., Excel, ERP systems)

(8). Business acumen and understanding of industry trends

(9). Ability to work under pressure and meet deadlines

(10). Continuous learning and willingness to update knowledge and skills

(7). FAQS

 

Q1: What is MBA Accounting?

A1: MBA Accounting is a specialized master's degree program that focuses on the principles and practices of accounting in a business context. It equips students with the knowledge and skills necessary to analyze financial data, make strategic financial decisions, and effectively manage financial resources within organizations.

 

Q2: What are the career prospects for MBA Accounting graduates?

A2: MBA Accounting graduates have various career opportunities. They can pursue roles such as financial analyst, controller, auditor, tax consultant, or management accountant. They may also find employment in corporate finance departments, consulting firms, government agencies, or financial institutions.

 

Q3: Is work experience required to pursue an MBA in Accounting?

A3: Work experience requirements vary depending on the university and program. Some MBA Accounting programs prefer candidates with prior work experience, while others may accept fresh graduates. It's advisable to check the specific requirements of the schools you're interested in.

 

Q4: What subjects are covered in an MBA Accounting program?

A4: An MBA Accounting program typically covers subjects such as financial accounting, managerial accounting, auditing, taxation, financial analysis, corporate finance, and business strategy. It also includes courses in leadership, communication, and other management-related topics.

 

Q5: Can I pursue an MBA in Accounting if my undergraduate degree is not in accounting or business?

A5: Yes, many MBA Accounting programs accept candidates from diverse educational backgrounds. While a background in accounting or business can be advantageous, some programs offer foundational courses to help students without prior knowledge in these areas.

 

Q6: How long does it take to complete an MBA in Accounting?

A6: The duration of an MBA Accounting program can vary. Full-time programs typically take two years to complete, while part-time or online programs may have flexible timelines that can range from 1.5 to 4 years. Accelerated programs or executive MBA options may have shorter durations.

 

Q7: What are the benefits of pursuing an MBA in Accounting?

A7: Pursuing an MBA in Accounting can provide several benefits, such as enhanced financial analysis and decision-making skills, a deeper understanding of accounting principles, improved career prospects and earning potential, networking opportunities, and the ability to qualify for leadership roles in finance and accounting.

 

Q8: Are there any professional certifications associated with MBA Accounting?

A8: While an MBA in Accounting is a valuable degree on its own, some graduates may choose to pursue professional certifications such as Certified Public Accountant (CPA), Certified Management Accountant (CMA), or Chartered Financial Analyst (CFA) to further enhance their credentials.

 

Q9: Can an MBA in Accounting lead to entrepreneurship opportunities?

A9: Yes, an MBA in Accounting can provide a solid foundation for individuals looking to start their businesses or become entrepreneurs. The knowledge gained in financial management, accounting practices, and business strategy can be valuable in running a successful venture.

 

Q10: What are the admission requirements for an MBA in Accounting?

A10: Admission requirements vary across institutions, but common requirements include a bachelor's degree from an accredited university, satisfactory GMAT or GRE scores, letters of recommendation, a statement of purpose, transcripts, and sometimes an interview. It's important to check the specific requirements of the schools you're interested in.