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B-COM-HONOURS in Financial Accounts at Karim City College
East Singhbhum, Jharkhand
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About the Specialization
What is Financial Accounts at Karim City College East Singhbhum?
This Financial Accounts program at Karim City College, affiliated with Kolhan University, focuses on developing a comprehensive understanding of accounting principles, financial reporting, and taxation practices essential for the Indian business landscape. It equips students with skills crucial for managing financial records, analyzing financial health, and ensuring regulatory compliance, addressing the growing demand for skilled finance professionals in India''''s dynamic economy.
Who Should Apply?
This program is ideal for 10+2 commerce graduates aspiring for a career in accounting, finance, or taxation within Indian industries. It also suits individuals seeking to build a strong theoretical and practical foundation in financial management. Those aiming for professional certifications like CA, CS, or CMA will find the curriculum beneficial for their foundational knowledge.
Why Choose This Course?
Graduates of this program can expect diverse career paths in India, including roles as accountants, financial analysts, tax consultants, and auditors in both public and private sectors. Entry-level salaries typically range from INR 2.5 to 4.5 LPA, with significant growth potential up to 8-15 LPA for experienced professionals. The program aligns well with initial stages of professional accounting certifications.
Student Success Practices
Foundation Stage
Build Strong Conceptual Foundations in Accounting- (Semester 1-2)
Focus on mastering core accounting principles, journal entries, ledger postings, and final accounts. Utilize textbooks thoroughly and practice numerical problems daily. Form study groups with peers to discuss concepts and solve problems collaboratively to solidify understanding.
Tools & Resources
Official textbooks, ICAI study material (for foundational clarity), T.S. Grewal for practice, Peer study groups
Career Connection
A solid foundation is crucial for cracking professional exams (like CA-Foundation, CMA-Foundation) and performing well in entry-level accounting roles in various Indian industries.
Develop Analytical & Legal Reasoning Skills- (Semester 1-2)
Pay close attention to Business Law and Corporate Law papers. Understand the legal frameworks governing Indian businesses, contract law, and company regulations. Read case studies and practice applying legal provisions to real-world scenarios, enhancing critical thinking.
Tools & Resources
Bare Acts (Indian Contract Act, Companies Act), Online legal databases (e.g., India Kanoon), Class discussions
Career Connection
Essential for roles in compliance, corporate secretarial services, and legal advisory, directly enhancing problem-solving capabilities required in corporate finance.
Master Basic Financial Software Literacy- (Semester 1-2)
Beyond theoretical knowledge, start exploring basic financial software like Tally ERP (even if not explicitly taught in S1/2, it''''s foundational for commerce graduates). Online tutorials or short courses can provide an early advantage in practical skill development.
Tools & Resources
Tally.ERP 9 tutorials (YouTube, Udemy), Basic spreadsheet software (Microsoft Excel/Google Sheets)
Career Connection
Enhances employability for entry-level accounting and data entry roles in Indian SMEs and corporations, making graduates job-ready immediately.
Intermediate Stage
Apply Accounting Software for Practical Experience- (Semester 3-4)
Actively engage with the Computerized Accounting System (CAS) course. Learn to perform ledger entries, generate financial reports, and manage payroll using software like Tally. Seek opportunities to assist local businesses or NGOs with their basic accounting tasks to gain practical exposure.
Tools & Resources
Tally.ERP 9 (licensed or educational version), Practical exercises and case studies, Local business support
Career Connection
Direct hands-on experience in accounting software is highly valued by Indian employers for roles like junior accountant or accounts executive, significantly boosting placement prospects.
Deep Dive into Taxation Laws & Practice- (Semester 3-4)
Given the importance of Income Tax and GST in India, dedicate extra effort to these subjects. Stay updated on latest amendments through financial news and government portals. Practice filing mock tax returns and understanding tax compliance procedures.
Tools & Resources
Income Tax Act, GST Act, Official government portals (incometax.gov.in, gst.gov.in), Financial newspapers (e.g., Economic Times)
Career Connection
Opens doors to careers as tax preparers, tax consultants, or in the finance departments of companies managing crucial tax compliance functions across India.
Participate in Case Study Competitions & Seminars- (Semester 3-4)
Engage in college-level or inter-college competitions related to finance, accounting, or business analysis. Attend webinars and seminars on emerging trends like forensic accounting or data analytics in finance to broaden your perspective and network.
Tools & Resources
Case study challenge platforms, College notice boards for events, Industry webinars
Career Connection
Develops critical thinking, presentation skills, and provides networking opportunities, which are invaluable for future job interviews and professional growth in the Indian finance sector.
Advanced Stage
Undertake an Industry-Relevant Project- (Semester 5-6)
Choose the project work (DSE 4) option and select a topic that addresses a real-world accounting or financial problem in a local business or sector. Focus on data collection, analysis, and presenting actionable recommendations to a mentor or faculty.
Tools & Resources
Research methodologies, Statistical software (Excel, basic R/Python for data handling), Company financial reports, Mentor guidance
Career Connection
Demonstrates practical problem-solving abilities and research skills, highly beneficial for securing placements in finance and accounting roles by showcasing applied knowledge.
Prepare for Professional Certifications & Placements- (Semester 5-6)
Alongside final semester studies, actively prepare for entry-level professional certifications (e.g., NISM modules, Tally certifications) or competitive exams. Attend campus placement workshops, refine resume, and practice interview skills rigorously.
Tools & Resources
NISM study material, Tally certification programs, Career services office, Mock interview sessions
Career Connection
Directly translates to improved chances of securing desirable jobs in banking, financial services, or corporate accounting departments immediately after graduation.
Build a Professional Network & Industry Awareness- (Semester 5-6)
Connect with alumni working in finance and accounting, attend industry events (online or offline), and follow financial news regularly. Understand current trends in financial reporting, auditing, and corporate governance in India.
Tools & Resources
LinkedIn, Industry association events, Financial news portals (Moneycontrol, Livemint), Alumni network
Career Connection
Provides insights into career paths, potential job leads, and mentorship opportunities, crucial for long-term career success and adapting to the evolving Indian financial market.
Program Structure and Curriculum
Eligibility:
- Intermediate (10+2) or equivalent examination with Commerce stream
Duration: 3 years / 6 semesters
Credits: 148 Credits
Assessment: Internal: 30%, External: 70%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| CC 1 | Financial Accounting - I | Core | 6 | Theoretical Framework of Accounting, Accounting Process, Business Income and Inventory Valuation, Accounting for Depreciation, Preparation of Final Accounts |
| CC 2 | Business Law | Core | 6 | Indian Contract Act 1872, Sale of Goods Act 1930, Limited Liability Partnership Act 2008, Consumer Protection Act 2019, Information Technology Act 2000 |
| AECC 1 | Environmental Studies | Ability Enhancement Compulsory Course | 4 | Multidisciplinary nature of environmental studies, Natural Resources and Associated Problems, Ecosystems and their structure, Biodiversity and its conservation, Environmental Pollution and control |
| GE 1 | Principles of Microeconomics | Generic Elective | 6 | Demand and Supply Analysis, Theory of Consumer Behaviour, Production and Costs, Market Structures (Perfect Competition, Monopoly), Factor Pricing |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| CC 3 | Financial Accounting - II | Core | 6 | Accounting for Hire Purchase System, Installment Payment System, Departmental Accounts, Branch Accounts (Excluding Foreign Branches), Accounting for Dissolution of Partnership Firm |
| CC 4 | Corporate Law | Core | 6 | Introduction to Company Law, Incorporation of a Company and Memorandum/Articles of Association, Share Capital and Debentures, Management and Meetings, Winding Up of Companies |
| AECC 2 | English Communication / Hindi | Ability Enhancement Compulsory Course | 4 | Theory of Communication, Reading Comprehension, Writing Skills (Paragraph, Report, Letter), Grammar and Usage, Presentation Skills |
| GE 2 | Principles of Macroeconomics | Generic Elective | 6 | National Income Accounting, Determination of Output and Employment, Money: Concept and Functions, Inflation and Unemployment, Open Economy Macroeconomics |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| CC 5 | Corporate Accounting - I | Core | 6 | Accounting for Issue and Forfeiture of Shares, Issue and Redemption of Debentures, Underwriting of Shares, Financial Statement Analysis, Cash Flow Statement (AS-3) |
| CC 6 | Income Tax Law & Practice | Core | 6 | Basic Concepts of Income Tax, Residential Status and Tax Liability, Heads of Income: Salary, House Property, Heads of Income: Business/Profession, Capital Gains, Income from Other Sources and Deductions |
| CC 7 | Auditing & Corporate Governance | Core | 6 | Introduction to Auditing, Internal Control and Vouching, Audit of Limited Companies, Audit Report and Certificates, Corporate Governance Principles |
| SEC 1 | E-Commerce | Skill Enhancement Course | 4 | Introduction to E-Commerce, E-Payment Systems, E-Security and Encryption, E-Marketing and Advertising, Cyber Laws in E-Commerce |
| GE 3 | Indian Economy | Generic Elective | 6 | Basic Characteristics of Indian Economy, Major Problems of Indian Economy (Poverty, Unemployment), Agriculture and Industrial Sector in India, Foreign Trade and Balance of Payments, Economic Reforms in India |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| CC 8 | Corporate Accounting - II | Core | 6 | Valuation of Goodwill and Shares, Accounting for Amalgamation, Absorption and External Reconstruction, Internal Reconstruction, Consolidated Financial Statements |
| CC 9 | Cost Accounting | Core | 6 | Introduction to Cost Accounting, Material Costing, Labour Costing, Overhead Costing, Operating Costing and Reconciliation |
| CC 10 | Fundamentals of Financial Management | Core | 6 | Introduction to Financial Management, Time Value of Money, Capital Budgeting Decisions, Working Capital Management, Dividend Decisions |
| SEC 2 | Computerized Accounting System | Skill Enhancement Course | 4 | Introduction to Computerized Accounting System, Mastering Tally.ERP 9 Basics, Voucher Entries and Ledger Accounts, Generating Financial Reports in Tally, Inventory Management in Tally |
| GE 4 | Public Finance | Generic Elective | 6 | Role of Government in the Economy, Public Expenditure and Public Revenue, Taxation: Principles and Classifications, Public Debt Management, Fiscal Policy and Federal Finance |
Semester 5
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| CC 11 | Principles of Marketing | Core | 6 | Introduction to Marketing, Product Decisions, Pricing Strategies, Promotion Decisions, Distribution Channels |
| CC 12 | Goods and Service Tax (GST) & Customs Law | Core | 6 | Introduction to GST in India, Levy and Collection of GST, Input Tax Credit Mechanism, Time and Value of Supply, Customs Act, 1962 (Basic Concepts) |
| DSE 1 | Accounting for Business Decisions | Discipline Specific Elective | 6 | Introduction to Management Accounting, Ratio Analysis for Decision Making, Fund Flow Statement, Cash Flow Statement (AS-3), Budgetary Control |
| DSE 2 | Indian Financial System | Discipline Specific Elective | 6 | Structure of Indian Financial System, Financial Markets (Money Market, Capital Market), Financial Institutions (RBI, Commercial Banks), Financial Instruments, SEBI and its Role |
Semester 6
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| CC 13 | Management Accounting | Core | 6 | Cost-Volume-Profit Analysis, Marginal Costing and Decision Making, Standard Costing and Variance Analysis, Responsibility Accounting, Relevant Costing for Managerial Decisions |
| CC 14 | Human Resource Management | Core | 6 | Introduction to Human Resource Management, Human Resource Planning, Recruitment and Selection, Training and Development, Performance Management and Compensation |
| DSE 3 | International Business | Discipline Specific Elective | 6 | Introduction to International Business, Theories of International Trade, Foreign Exchange Market and Exchange Rates, Balance of Payments, International Financial Institutions |
| DSE 4 | Management of Financial Services | Discipline Specific Elective | 6 | Overview of Financial Services Industry, Merchant Banking and Issue Management, Mutual Funds and Asset Management, Credit Rating Agencies, Leasing, Hire Purchase, and Venture Capital |
