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MCOM in Advanced Accountancy at Gujarat Arts & Science College
Ahmedabad, Gujarat
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About the Specialization
What is Advanced Accountancy at Gujarat Arts & Science College Ahmedabad?
This Advanced Accountancy program at Gujarat Arts and Commerce College (Evening), affiliated with Gujarat University, focuses on developing advanced expertise in financial reporting, cost management, auditing, and taxation. The curriculum is designed to meet the evolving demands of the Indian financial sector, equipping students with deep analytical and practical skills crucial for complex accounting and auditing roles. It emphasizes current industry practices and regulatory frameworks relevant to India''''s dynamic economy.
Who Should Apply?
This program is ideal for B.Com graduates seeking to specialize in accounting and finance, aspiring auditors, financial analysts, and tax consultants. It also caters to working professionals aiming to enhance their knowledge in advanced accounting principles, IFRS, and strategic financial management. Candidates with a strong quantitative aptitude and an interest in financial regulations and compliance will find this specialization particularly rewarding.
Why Choose This Course?
Graduates of this program can expect to pursue rewarding career paths as Chartered Accountants (after clearing CA exams), financial controllers, statutory auditors, tax advisors, and management accountants in India. Entry-level salaries typically range from INR 3.5 to 6 LPA, with significant growth potential up to INR 15-25 LPA for experienced professionals. The program aligns with the knowledge required for professional certifications like CA, CMA, and CPA.
Student Success Practices
Foundation Stage
Master Core Accounting Principles- (Semester 1-2)
Dedicate time to thoroughly understand Advanced Financial Accounting and Cost & Management Accounting fundamentals. Focus on Ind AS, consolidation, marginal costing, and budgetary control from the very first semester. Form study groups to discuss complex topics and solve case studies together, building a strong conceptual base for future advanced subjects.
Tools & Resources
ICAI study material (for foundational concepts), Online accounting tutorials, Previous year university question papers
Career Connection
A strong foundation is essential for excelling in entrance exams for professional certifications like CA or CMA, and for performing well in campus placements for entry-level accounting roles.
Develop Quantitative and Analytical Skills- (Semester 1-2)
Engage actively with subjects like ''''Economics for Business Decisions'''' and ''''Statistical Analysis for Business Decisions''''. Practice problem-solving regularly and learn to interpret data for business insights. Participate in college-level quizzes or analytical competitions to sharpen these skills.
Tools & Resources
Microsoft Excel for data analysis, Online courses on business statistics, Academic journals related to business economics
Career Connection
These skills are critical for financial modeling, market analysis, and strategic decision-making roles in any finance or accounting department, highly valued by Indian employers.
Participate in Research and Case Studies- (Semester 1-2)
Actively engage in ''''Research Methodology For Business'''' by undertaking small research projects or detailed case study analyses. Learn to critically evaluate business scenarios and present findings. This also helps in developing strong academic writing and presentation skills.
Tools & Resources
University library databases, Google Scholar, Case Study Competitions
Career Connection
Enhances analytical thinking and problem-solving abilities, which are crucial for roles in consulting, financial analysis, and academic research.
Intermediate Stage
Deep Dive into Strategic Financial and Cost Management- (Semester 3-4)
Beyond theoretical understanding, focus on the practical application of concepts from ''''Strategic Financial Management'''' and ''''Strategic Cost & Management Accounting''''. Work on real-world case studies involving capital budgeting, working capital, and cost optimization. Seek out workshops or short courses on financial modeling.
Tools & Resources
Financial modeling software (e.g., MS Excel, Python libraries), Bloomberg Terminal access (if available), NPTEL courses on Financial Management
Career Connection
Directly prepares students for roles in corporate finance, investment banking, and management consulting, where strategic financial decision-making is key.
Build IFRS and Tax Expertise- (Semester 3-4)
Gain a comprehensive understanding of ''''International Financial Reporting Standards'''' and ''''Direct & Indirect Tax''''. Consider pursuing online certification courses in IFRS or tax laws to supplement classroom learning. Attempt tax return preparations and IFRS-based financial statements to apply theoretical knowledge.
Tools & Resources
ACCA IFRS certificate (online), Income Tax Act of India, GST Portal, Taxmann resources
Career Connection
Essential for roles in international accounting, tax advisory, and compliance, especially within MNCs and large Indian corporations with global operations.
Network and Seek Mentorship- (Semester 3-4)
Attend industry seminars, webinars, and college alumni events focused on accounting and finance. Connect with professionals on platforms like LinkedIn. Seek mentorship from faculty or industry veterans to gain insights into career paths, industry trends, and job market expectations in India.
Tools & Resources
LinkedIn, Professional networking events (e.g., ICAI, FICCI), Alumni association of the college
Career Connection
Opens doors to internship opportunities, valuable career advice, and potential job referrals, significantly boosting placement prospects.
Advanced Stage
Excel in Advanced Auditing and Assurance- (Semester 4)
Master the intricacies of ''''Advanced Auditing & Assurance'''', focusing on auditing standards, internal controls, and specific types of audits like company, bank, and insurance audits. Practice solving audit-related case studies and participate in mock audits if offered by professional bodies or coaching centers.
Tools & Resources
SA (Standards on Auditing) issued by ICAI, Audit software simulations (if available), Industry audit reports
Career Connection
Directly prepares for roles as statutory auditors, internal auditors, forensic auditors, and risk advisory professionals in accounting firms and corporate setups.
Undertake Practical Industry Project or Internship- (Semester 4)
Secure an internship or work on a project with an accounting firm, a tax consultancy, or the finance department of a company. Apply theoretical knowledge to real-world scenarios, understanding practical challenges and industry best practices. Focus on delivering tangible results and building a strong project portfolio.
Tools & Resources
College placement cell, Internship portals (Internshala, Naukri), Networking contacts
Career Connection
Provides invaluable work experience, enhances resume, and often leads to pre-placement offers, making graduates industry-ready upon completion.
Prepare Rigorously for Placements and Professional Exams- (Semester 4)
Dedicate focused time for campus placement preparation, including resume building, group discussions, aptitude tests, and mock interviews. Simultaneously, if aspiring for CA or CMA, start preparing for the final levels. Focus on improving communication skills and general awareness of current economic affairs.
Tools & Resources
Placement cell workshops, Online aptitude platforms, Interview preparation guides, Current affairs newspapers and magazines
Career Connection
Maximizes chances of securing desired jobs through campus placements and sets the stage for rapid career advancement in professional accounting and finance fields.
Program Structure and Curriculum
Eligibility:
- B.Com. degree from Gujarat University or an equivalent degree from another recognized University.
Duration: 2 years (4 semesters)
Credits: 64 Credits
Assessment: Internal: 30%, External: 70%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MCOM S1 C1 | Economics For Business Decisions | Core | 4 | Managerial Economics, Demand and Supply Analysis, Production and Cost, Market Structures, Macro Economic Factors, Business Cycles |
| MCOM S1 C2 | Principles of Business Management and Organization Behavior | Core | 4 | Management Principles, Planning and Organizing, Staffing and Directing, Controlling, Organizational Behavior, Motivation and Leadership |
| MCOM S1 E1 | Advanced Financial Accounting | Elective | 4 | Accounting Standards (Ind AS), Financial Instruments, Consolidated Financial Statements, Amalgamation and Absorption, External Reconstruction, Investment Accounting |
| MCOM S1 E2 | Advanced Cost & Management Accounting | Elective | 4 | Cost Accounting Systems, Marginal Costing, Budgetary Control, Standard Costing, Activity Based Costing, Transfer Pricing |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MCOM S2 C1 | Statistical Analysis For Business Decisions | Core | 4 | Probability and Distributions, Sampling and Estimation, Hypothesis Testing, Correlation and Regression, Time Series Analysis, Index Numbers |
| MCOM S2 C2 | Research Methodology For Business | Core | 4 | Research Design, Data Collection Methods, Sampling Design, Data Analysis Techniques, Report Writing, Ethics in Research |
| MCOM S2 E1 | Strategic Financial Management | Elective | 4 | Capital Budgeting Decisions, Risk and Return Analysis, Cost of Capital, Capital Structure Theories, Working Capital Management, Mergers and Acquisitions |
| MCOM S2 E2 | Strategic Cost & Management Accounting | Elective | 4 | Strategic Cost Management, Life Cycle Costing, Target Costing, Kaizen Costing, Environmental Costing, Performance Measurement Systems |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MCOM S3 C1 | Human Resource Management & Organizational Development | Core | 4 | HR Planning and Staffing, Training and Development, Performance Appraisal, Compensation Management, Industrial Relations, Organizational Development Interventions |
| MCOM S3 C2 | Entrepreneurship Development & Small Business Management | Core | 4 | Entrepreneurial Process, Business Plan Development, Feasibility Analysis, Sources of Finance for SMEs, Marketing for Small Businesses, Government Support Schemes |
| MCOM S3 E1 | International Financial Reporting Standards (IFRS) | Elective | 4 | IFRS Framework and Presentation, Asset-Related IFRS, Liability-Related IFRS, Revenue Recognition, Consolidation under IFRS, IFRS Adoption Challenges |
| MCOM S3 E2 | Direct Tax & Tax Planning | Elective | 4 | Income Tax Act, Heads of Income, Deductions and Exemptions, Clubbing and Set-off of Losses, Assessment Procedures, Tax Planning Strategies |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MCOM S4 C1 | Marketing Management | Core | 4 | Marketing Environment, Consumer Behavior, Market Segmentation, Product and Pricing Strategies, Promotion and Distribution, Digital Marketing Trends |
| MCOM S4 C2 | Corporate Governance & Business Ethics | Core | 4 | Principles of Corporate Governance, Role of Board of Directors, Shareholder Rights, Stakeholder Management, Business Ethics and Dilemmas, Corporate Social Responsibility |
| MCOM S4 E1 | Advanced Auditing & Assurance | Elective | 4 | Auditing Standards, Internal Control Systems, Audit Evidence and Sampling, Company Audit Procedures, Bank and Insurance Audit, Investigation and Due Diligence |
| MCOM S4 E2 | Indirect Tax & Tax Management | Elective | 4 | Goods and Services Tax (GST) Law, Input Tax Credit, Valuation and Payment of Tax, GST Returns and Compliance, Customs Act, Tax Management Strategies |
