Post Image
Diploma in Financial Accounting

Diploma in Financial Accounting

Course Overview

The Diploma in Financial Accounting (DFA) provides foundational knowledge in financial reporting, accounting principles, and financial analysis. It covers topics like bookkeeping, ledger maintenance, financial statements, and taxation, equipping students for roles in accounting and finance.

Duration:

1 year (2 semesters)

Syllabus:

The syllabus for the Diploma in Financial Accounting typically follows a semester-wise structure. Below is an example:

Semester 1:

  1. Fundamentals of Accounting:

    • Basic accounting principles and concepts

    • Double-entry system and recording transactions

    • Preparation of financial statements (Balance Sheet, Income Statement)

  2. Computerized Accounting Systems:

    • Introduction to accounting software (e.g., Tally, QuickBooks)

    • Practical implementation of accounting using software

    • Handling of accounts, ledgers, and reports through automation

  3. Business Law and Ethics:

    • Introduction to legal frameworks governing financial transactions

    • Company Law and Contract Law in relation to accounting

    • Ethical standards and practices in financial accounting

  4. Taxation Laws:

    • Overview of Direct and Indirect Taxes in India

    • Filing of returns and tax planning

    • GST basics, computation, and compliance

Semester 2:

  1. Advanced Financial Accounting:

    • Partnership accounts, joint ventures, and consignment accounts

    • Accounting for special transactions (Branch, Departmental, Hire Purchase)

    • Final accounts for non-profit organizations

  2. Auditing and Internal Control:

    • Principles of auditing, types of audits

    • Internal control systems and their relevance to financial accounting

    • Vouching, verification, and audit reporting

  3. Cost Accounting and Management Accounting:

    • Concepts of cost accounting, cost centers, and cost allocation

    • Budgeting, forecasting, and variance analysis

    • Ratio analysis, fund flow and cash flow statements

  4. Project Work/Internship:

    • Students are typically required to engage in practical internships or project work related to financial accounting.

Average Fees:

  • ₹8,000 to ₹45,000 (varies by institution)

Exams to Attend:

  1. Internal Assessments:

    • Includes mid-semester exams, assignments, and practical tests.

  2. Final Semester Examinations:

    • Exams conducted at the end of each semester, including theory and practical components.

  3. Professional Certifications (Optional):

    • Certified Financial Accountant (CFA): Enhances prospects in corporate finance roles.

    • NISM Certifications: Certification in securities markets that can complement a diploma in financial accounting.

  4. Competitive Exams (Optional):

    • Entrance exams for higher education in finance or accounting-related courses such as CA Foundation, CS Executive Entrance Test (CSEET), or CMA Foundation.

Top 10 Institutions in India:

  1. National Institute of Financial Management (NIFM), Faridabad

  2. Indian Institute of Banking and Finance (IIBF), Mumbai

  3. Narsee Monjee Institute of Management Studies (NMIMS), Mumbai

  4. Symbiosis College of Arts and Commerce, Pune

  5. Amity University, Noida

  6. Christ University, Bangalore

  7. Madras Christian College, Chennai

  8. Loyola College, Chennai

  9. Indian School of Business and Finance (ISBF), Delhi

  10. S.P. Jain School of Global Management, Mumbai

Top 10 Institutions in Kerala:

  1. St. Thomas College, Thrissur

  2. Mar Ivanios College, Thiruvananthapuram

  3. Rajagiri College of Management and Applied Sciences, Kochi

  4. Farook College, Kozhikode

  5. Sacred Heart College, Kochi

  6. St. Teresa's College, Kochi

  7. Government College, Kottayam

  8. MES Asmabi College, Thrissur

  9. MACFAST (Mar Athanasios College for Advanced Studies), Thiruvalla

  10. Amrita School of Arts and Sciences, Kochi

Diploma Courses