Cracking financial accounting jobs is rewarding for the BCom graduate who wishes to join the corporate finance world. Because businesses strictly rely on financial reporting and analysis, such a requirement for skilled professionals in accounting and finance jobs has placed immense demand upon it, as it increases day by day.
If the students pursuing BCom are offered proper career paths and required skills along with the appropriate courses then they would be easy to make further movements ahead in accounting and finance jobs.
According to research, the global financial services market is projected to grow from $33,379.8 billion in 2024 to $35,857.46 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.4%.
One of the most significant functions is financial accounting, ensuring compliance, the finances are transparent, and the organisation will be informed in terms of decision-making. Working professionals who deal with digital accounting enhance the application even further.
To exchange proficiency in traditional accounting principles, up-to-date technology is provided to deal with it. Financial accounting has a very wide scope: it goes from banking and investment firms to manufacturing and multinational corporations.
Why Choose Careers in Financial Accounting?
Financial accounting will bring economic stability to the organisations. Hence, BCom graduates must join financial accounting as this is one industry which requires proper accountants in each company of the industry.
- High Demand: Companies look for such skills in three major areas- financial reporting, auditing, and compliance.
- Diverse Opportunities: The job role varies from junior financial analyst to senior financial controller.
- Competitive Salaries: The competitive salary also begins with INR 4-6 LPA.
- Growth Potential: Moving into CFO and Finance Director roles.
- Industry Relevance: It could be a start-up or multinational, but any organisation requires the "epidemic" of financial accountants to stay healthy.
- Technological Integration: Accounting gears up toward the use of AI and automation; therefore, professionals have to upskill to stay ahead in the game.
The right financial accounting course accelerates a student's entry into this dynamic sector. Since financial transactions are business decisions, professionals learn to analyse and become invaluable assets for their organisations.
Top Accounting and Finance Jobs for BCom Graduates
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Financial Accountant
Prepares financial statements by reconciling accounts and ensuring that the regulatory standards are followed.
Key Responsibilities:
- General ledgers and financial records
- Income statements and balance sheets preparation
- Tax compliance and reporting
- Presentation of financial statements to the management
- Procurement of new accounting software to enhance efficiency optimisation
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Accounts Payable/Receivable Specialist
Experts handling all payments, invoices, and company's receivables
Major Responsibilities;
- Vendor invoice management and payments
- Customer invoices and collections
- Compliance to financial policy
- Identification of anomalies and solving of payment problems
- Installation of automated tools for the optimization of processes
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Tax Consultant
A tax consultant is a person who advises both individuals and corporations about tax planning and compliance.
Key Responsibilities
- File tax return
- Advising clients on tax saving strategy
- Compliance with tax legislations
- On the changes of tax laws and financial policies
- Assist foreign business organizations in strategy formation to comply with tax regulations
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Audit Associate
Audit assistant ensures whether any bookkeeping entries maintained by any firm are consistent with the applicable accounting standards, and certifies in this behalf also.
Core Responsibilities
- Inter as well as extr
- Discovery of Financial Risk and Suggestion of Change With Relevant Recommendation For Implementation
- Wrong but truthful reports
- Application of Information Technology towards fraudulence detection.
- Team for perfect financial managing system
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Financial Analyst
Financial Analysts also offer the views of data-based finance. Hence, such an investment-related decision that the organization may consider.
Key Activities
- Analyse the financial statements and trends in markets to give an advisory about the right investments
- Prepare investment reports and present the financial opportunities
- Assist in budgeting and strategic planning
- Help develop the finance model for use in advisory
- Collaborate with big data analytics to gain insight into finance perspectives
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Cost Accountant
Cost accountants oversee cost analysis, cost control, and cost effectiveness in operations.
Key Activities
- Cost analysis of production and identification of scope of saving the costs
- Preparation of reports to be utilized by management for decision-making
- Pricing strategy or profitability analysis
- Use of accountancy software for the process of Cost Accounting
- Strategic management for optimum cost.
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Management Accountant
Management accountancy presents financial information to the concerned organization for its decision-making purposes.
Major functions include:
- Preparation of financial reports for internal use
- Help in strategy formulation and budgeting
- Cost control measures
- Business development through Financial calculations
- Enable finance through predictive models' better decisioning
- Wholly Skills to achieve perfection in Financial Accounting
Essential Skills for Financial Accounting Jobs
B Com graduates need to acquire technical as well as communicative abilities to function efficiently in those jobs:
Technical Skills
- Tally, QuickBooks, SAP, and Excel related Financial Accounting software
- Drawing Financial Reports -Balance Sheet, Income statements, cash statements.
- Taxation and compliance: GST, TDS and Corporate Tax compliances.
- Auditing - Financial auditing & Risk assessments.
- Financial Analysis: This involves translating the financial details for business to arrive at informed decisions.
- Cloud accounting: Getting accustomed to utilizing the cloud accounting-based financial management tools.
- ERP Systems: Knowledge in an enterprise resource planning software packages
Soft skills
- Attention to details: Accuracy needed in financial reports.
- Analytical thinking: Determining the nature of the risk and trend concerning finance.
- Good communication: Preparing a finance report to other stakeholders
- Problem-solving: Breaking down finance misfit cases.
- Time management: Handling many projects on finances at once
FAQs
- Top BCom financial accounting jobs
Some of the best financial accounting jobs include financial accountant, tax consultant, and financial analyst.
- Are freshers able to get hired in financial accounting?
Yes! A freshers can seek entry-level BCom jobs, especially after gaining experience in internship and taking up a financial accounting course.
- Average salary of the financial accounting professionals?
Entry-level salary ranges between INR 4-6 LPA and can go up to INR 12-15 LPA for experienced professionals.
- Which sectors recruit financial accountants?
The sectors recruiting financial accountants are the banking sector, corporate finance, auditing firms, and MNCs.
- Do I need certifications to pursue careers in financial accounting?
Certification by CA, CFA, or ACCA only helps at the time of hiring but not mandatory for starters.
- How do I upskill to better accounting and finance jobs?
You can upgrade your skills through a financial accounting course, getting industry certifications, and practical projects.
- What are the potential opportunities for career growth in financial accounting?
Career growth is reflected in the experience gained during the professional career. A professional can move up to leadership roles such as CFO, Finance Manager, or Audit Head.
Conclusion
The prospects of jobs in financial accountancy for BCom graduates are excellent. Careers in financial accountancy with lucrative rewards can be obtained by acquisition through proper sets of skills, such as through enrollment in the course of financial accounting, or through the acquisition of hands-on experience.
In fact, the dynamic financial accountancy profession within an emerging digital world compels professionals within that field to keep abreast and upskill. FinTech will also integrate with accounting, and the job-skill savvy specialists in the market will be given competitive advantage.
These professionals should have knowledge of AI-based financial tools and the automated reporting system. Job-skilled professionals, accounting, and finance are likely to bloom in abundance, thus providing oodles of career opportunities in banking, insurance, corporate finance, consulting, and many more industries.
Continue your career journey with the Postgraduate Financial Accounting and Management Program at Imarticus Learning and unlock job opportunities with leading financial institutions!
