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Financial Accounting Course - Scope of Financial Accounting in 2022

Update on 12 Apr 2022

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Financial Accounting Course - Scope of Financial Accounting in 2022

Financial Accounting Course: The courses are envisioned towards equipping the students with the skills to keep a watch on the company’s financial score in order to monitor its efficiency, expenditure, effectiveness, etc. as well as its respective performance. Different courses being offered with respect to financial accounting have been facing a substantial demand in the current scenario of the era.

Introduction to Financial Accounting Course 2022:

The working, as well as the field avenues (Functional areas) with respect to the financial & accounting course, are as follows:

  • Dealing with financial Transactions: One of the functional areas of financial accounting is dealing with financial transactions. The candidate working in the respective field should keep an eye on the financial transactions that are taking place in the company and meanwhile acknowledge the need to address the rising problem in a substantial manner.
  • Keeping a track of the company’s transactions: The task of financial accounting involves the purpose and importance of keeping a track of the transactions taking place in the company. Keeping a record of such tracks can determine the loopholes preventing the growth of the company and enhance the performance as well as surge the growth of the company.
  • Analyzing and making summaries: By maintaining the summary of the several transactions made in the company, the financial analyst or a person working at a similar post can monitor the data with respect to expenditure as well as the margin between the amount spent and the amount gained. This would help them at determining the data of the company on the aspects of profit and loss.
  • Classifying, analyzing, and interpreting the data: Classification of the transactions can help the financial representative to make categorical divisions. Such divisions can comprise the transactions of one kind in one section and this would make the representatives get easily familiar with the data summary prepared by them and analyze them accordingly. Appropriate classification of the data prepared can simplify the process of interpreting the respective data and analyzing it as well in order to make a significant approach towards fulfilling the requirements or corrections needed.
  • Communication of Results: The amount of data that is maintained in the summaries and monitored throughout via the process of classification and interpretation is analyzed positively to reach out to the interested parties or higher level of organizations. The communication of results basically consists of the interpretation of the analyzed and summarized data to the higher parties of the functional area.

Factors Associated with a Financial Accounting Course in 2022:

  • The courses are specialized by various online academic platforms like Coursera, Udemy, EDX, etc., and offered by various universities through such platforms. These are certificate courses and the duration of the financial accounting Program varies as per the course chosen.
  • The candidates aspiring to pursue such courses can enroll for the particular course by paying the respective amount (if any) and taking the specified video lectures as per the material of the course provided. The course certificate is provided at the end of the course. The candidates who are seeking a certificate in financial accounting course can visit such platforms, go through the enrollment procedure, and avail of the respective course.

Eligibility Criteria of Financial Accounting Course:

The only requirement for financial accounting eligibility criteria is that the respective candidate seeking financial and accounting course admission is required to be a commerce, accounts, MBA graduate or should have pursued a course in commerce streams.

Moreover, the students should have a significant inclination toward the various terminologies related to this program.

The candidates aspiring to undergo such courses can check the respective eligibility criteria in order to avoid any inconvenience in the latter part of the course.

List of Top 10 Financial Accounting Online Courses in India:

There are numerous financial and accounting courses available on the online platforms that provide certifications with respect to the course. These certificate courses consist of a series of video lectures on a number of topics that are covered under the syllabus assigned to the respective course.

The candidates can simply avail the desired financial and accounting online course by enrolling for the course and paying the respective amount of the course.

Here is a list of some Financial Accounting courses, the organizations or platforms specializing in the respective course, Syllabus, enrollment charge or fee, course duration, etc.

Introduction to Financial Accounting

  • About the Course: The course helps the students to gain perspective regarding the skills required to analyze financial statements and disclosures for their use in financial analysis.
  • Specialized by & Offered by: Coursera (University of Pennsylvania)
  • Syllabus: Introduction and Balance Sheet; Accrual Accounting and the Income Statement; Cash Flows; Ratio analysis and final exam.
  • Fee Charges: Free Enrollment
  • Duration: Approx 13 Hours

Financial Accounting fundamentals

  • About the Course: The course will aid the respective students in gaining the skills like Financial Accounting, Financial Statements, Balance sheets, Accounting, etc. 
  • Specialized by & Offered by: Coursera (University of Virginia)
  • Syllabus: Introduction to Financial Accounting; The Financial Statements, and the balance sheet; Introduction to recording transactions; The income statement, revenue and expense transactions, and adjusting entries; The statement of cash flows, Financial Statement preparation; More transactions, Analysis of statements and an annual report.
  • Fee Charges: Free Enrollment
  • Duration: Approx 14 hours

Formal Financial Accounting

  • About the Course: The course familiarizes the students with the technical terms in financial accounting such as credit, debit, T-account, etc.
  • Specialized by & Offered by: Coursera (University of Illinois)
  • Syllabus: Course Orientation; Introduction to Financial Accounting Terminology; Formal Financial Accounting for Assets; Formal Financial Accounting for Liabilities and Shareholders’ equity; Applications of formal financial accounting
  • Fee Charges: Free Enrollment
  • Duration: Approx 10 hours

Accounting: Principles of Financial Accounting

  • About the Course: The course enables the students with the skills related to reading and interpreting financial statements for business diagnosis, possessing the conceptual base, etc.
  • Specialized by & Offered by: Coursera (IESE Business School)
  • Syllabus: Introduction to accounting (The balance sheet); The Income Statement; The cash flow statement; Accrual accounting
  • Fee Charges: Free Enrollment
  • Duration: Approx 12 hours

Financial Accounting: Advanced Topics

  • About the Course: The course will direct you to discover as well as explore the advanced topics subjected to Financial Accounting such as financing of assets, accounting for liabilities, etc.
  • Specialized by & Offered by: Coursera (University of Illinois)
  • Syllabus: Course Orientation; Long-term assets; Liabilities; shareholders’ Equity; Cash Flows statement
  • Fee Charges: Free Enrollment
  • Duration: Approx 13 hours

Financial Accounting: The complete Introductory Crash Course

  • About the Course: The course consists of around 69 video lessons that can be covered under a total time duration of approx 10 hours of content.
  • Specialized by & Offered by: Udemy
  • Syllabus: Structure of a business;  Internal vs external users of accounting information; The double entry system and conceptual framework; Merchandise Inventory; Receivables and bad debts; Intangible and bad assets
  • Fee Charges: Approx Rs 1280
  • Duration: Approx 9 hours 48 minutes

Financial Accounting - The Ultimate Beginner’s Course

  • About the Course: The course consists of the topics as well as the course pattern that helps the students at enhancing their accounting expertise.
  • Specialized by & Offered by: Udemy
  • Syllabus: Introduction to financial accounting; The accounting equation; accounting transactions and adjusting entries; Property, plant, and equipment; depreciation methods
  • Fee Charges: Approx Rs 6400
  • Duration: Approx 10 hours

Financial Accounting made Fun: Eliminating Your Fears

  • About the Course: This course acquaints you with the form, content as well as definitions included in the primary financial statement such as income statement, balance sheet, and cash flow statement.
  • Specialized by & Offered by: edX (BABSON)
  • Syllabus: Balance sheet  and transaction analysis; income statement and cash flows; ratio Analysis; Forecast
  • Fee Charges: Free Enrollment ( Added verified certificate for Rs 14,682
  • Duration: 4 weeks (4-6 hours per week)

Financial Accounting for Corporations

  • About the Course: The course is part of the UMGC Accounting and Financial Management Micromasters program which will help the students to prepare the corporate financial statements in compliance with the US securities and exchange commission as well as in conformance with the Financial Accounting standard Board’s generally accepted accounting principles.
  • Specialized by & Offered by: edX (University of Maryland Global campus)
  • Syllabus: Overview of financial accounting (FASB’s codification, FASB’s conceptual framework, and a review of accounting principles); Income statement and statement of comprehensive income; Balance sheet: Current assets; fixed and Intangible assets; balance sheet: Liabilities and Equities; Statement of cash flows; notes to financial statements and accounting for changes and errors
  • Fee Charges: Free Enrollment ( added verified certificate for approx Rs 18,371)
  • Duration: 8 weeks (8-10 hours per week)

Financial Accounting and Analysis

  • About the Course: The course will help you understand the several elements of Financial statements as well apply accounting principles with respect to its preparations. It will also inculcate the ability to inculcate the tools and techniques to analyze and interpret the key parameters of financial performance
  • Specialized by & Offered by: edX (Indian Institute of Management Bangalore)
  • Syllabus: Introduction to financial accounting; A closer look at the balance sheet; A closer look at the Income statement, cash flow statement, and statement of changes in equity; Financial statement analysis
  • Fee Charges: Free Enrollment (Added certificate of approx Rs 3,689
  • Duration: 6 weeks (4-5 hours per week)

The course duration varies as per the different specializations offered by diverse platforms and the type of study material or lectures they provide to the students. The financial accounting program syllabus consists of various topics like the Introduction to financial accounting, The accounting equation, The double entry system, and conceptual framework, Long-term assets, liabilities, etc.

The candidates aspiring to pursue such courses can choose any of the preferred topics that could direct them towards the syllabus oriented towards serving in that field itself.

Job Prospects for Financial Accounting Course 2022:

Job Profile Job Description Skills Required
Financial Accountant • Prepare cash flow statements on a weekly basis
• Preparing the monthly profit and loss as well as balance sheet reports
• Advising on estimates for project funding
• Gathering and interpreting data in order to be responsive to financial inquiries
• Provide assistance towards the preparation of the year-end account and the statutory account.
• Possess good negotiation as well as communication skills
• Have the ability to develop a strong working relationship
• Comprise commercial as well as business awareness
• Have an analytical brain
• Oriented and focused on the deadline and a keen eye toward the details and data
Management Consultant • Stay aware of the challenges faced by the clients in the business and address them as soon as possible
• Determine as well as communicate the product of the work
• Formulate and outline the format and scope of the work in order to predict its performance and meet the respective requirement
• Possess organizational skills
• Should have the analytical, critical thinking, and problem-solving skill
• Time management skill
• Creative skill
• Interpersonal as well as verbal communication skills
Financial Analyst • Provide analytical financial reports to the senior management
• Stay aware of the new investment policies and the respective news about the industry
• Look forward to the improvement of performance
• Maintain a good monthly report consisting of the key metrics and qualifications which makes the report summary easy to understand
• Develop decision-making models for the betterment and enhancement of your work
• Excellent working knowledge of excel and financial modeling
• Good decision making, analytical and problem-solving skills
• Pays attention to detail and accuracy
• Relevant experience in corporate finance, investment banking, financial planning, analysis, etc.
Chief Financial Officer • Perform risk management analysis to gain information about the organization’s liabilities and investments
• Prepare as well as maintain current and reliable reports
• Develop strategies to drive the company’s financial planning
• Ensure proper compliance and adherence to the law and policies of the company
• Excellent communication and interpersonal skills
• Expert in the use of MS office and financial management software
• Substantial knowledge of corporate finance laws and risk management software.
• Good analytical capacity
Account Executive • Maintain the sales cycle
• Create and develop a detailed business plan in order to acquire predetermined goals
• Stay in regular contact with the clients to understand their needs and preferences.
• Keep records of sales data as well as negotiate agreements
• Must have organizational as well as Time Management skills
• Well acquainted with sales, market research, and negotiating principles
• Good experience as an Account executive or similar customer service or sales role.
• Passionate and enthusiastic about the work
• Excellent presentation as well as communication skills
• Substantial knowledge of MS Office, CRM software, etc.
Assistant Finance Manager

• Assist in creating and developing financial strategies to meet the demand of the company as well as reach an effective target
• Keep a track of the expenses and control them accordingly in order to meet the budget
• Cooperate and interact with all the members of the organization
• Assist in the management of the performance of the team members
• Present and develop proposals for the team  to deliver competitive and accurate financial planning

• Have the ability to assist with financial management duties
• Work under pressure
• Excellent leadership and project management skills
• Proper understanding of Financial management, requirements, obligations, etc.
Senior Accountant • Manage accounting assistants as well as bookkeepers
• Direct and orient internal and external audits in order to ensure compliance
• Analyze and summarise financial information and data
• Keep a track of the data recorded, summarised, and analyzed
• Produce accounting reporting with no errors
• Ensure proper assistance with tax audits and tax returns
• Should hold a good understanding of generally accepted accounting principles
• Familiar with financial accounting statements
• Good communicative skills as well as accurate toward details
• Aware of the new business trends and the latest news in the respective field
• Should have advanced Ms skills consisting of Pivot tables, Vlookups, etc.
Financial Controller

• Developing and creating financial reviews and providing investment advice
• Preparing and maintaining a report of company tax and BAS statement
• DEbt management and collection
• Consolidation of budget on a regular basis
• Work closely with management and team of executives in order to share reports and recent developments or findings, etc.
• Ensure proper compliance with statutory laws as well as financial regulations

• Good communications skills
• Strong leadership and team orientation qualities
• Compliance oriented
• Proven experience in finance management
• Good knowledge of analytical skills and well acquainted with the aspects of accounting fundamentals
Scope of Financial Accounting in 2022:

With the changing scenario of the fast-growing world, there has been a significant and ever-growing demand for a good quality representative in the area of finance and accounting. The primary virtue of the financial accounting course is that it is not only confined to a single working sphere but it has spread its tentacles to diverse fields via the medium of the requirement of representatives from the respective field.

In order to get acquainted with the pros and cons of financial accounting course, it is better to refer to the basic factors that form the basis of such courses and the respective preferences, relevant aspects, etc. associated with it.

Here are a few points that explain the scope of the financial accounting course as well as other basic factors associated with it:

  • Financial accounting is a dynamic subject owned and covers a varied range of areas. Therefore, this works as a factor for the students as they have numerous options open to them with respect to the field of accounting and finance course, which they can explore and enhance their career accordingly.
  • The need for financial accounting professionals in every organization and field contributes to the factor of the increasing demand for professionals and experts in this field.
  • The field also comprises a wide range of opportunities and options for the enhancement of career graphs. If the employed or working professional has a good knowledge of the field and keeps a track of all the recent activities of the field and is well acquainted and efficient with the respective skills, then he/she has a great chance of obtaining a surge in a career at a rapid pace.
  • The abundant and diverse employment prospects eventually lead to an increased and substantial job prospect with respect to the career and scope of the financial accounting course.

Conclusion:

The article consists of details regarding the diverse financial & accounting courses available for students looking for significant opportunities which can help them in enriching and uplifting their career profile in the field of financial accounting.

Moreover, the various aspects that are associated with finding the answer to what is scope and future of financial accounting courses are also kept into consideration while framing the article.

The details regarding the various courses like the financial management course syllabus, duration, fee, etc. are also given to provide you an insight into some of the best viable options for the respective course. Hopefully, such information would stand useful for you in order to provide you with a significant direction with respect to such courses.

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