Description
Course Name: Diploma in Financial Reporting and Control Account
Course Id: DFRACA/Q1001.
Eligibility: Candidates need to have completed a Bachelor’s degree or equivalent.
Objective: By completing a Diploma in Financial Reporting and Control Account, individuals will have a solid foundation in financial reporting, effective control systems, and the ability to analyze and manage financial data to support business decision-making and regulatory compliance.
Duration: 370 Hrs (Equivalent to One Year).
Total Credits: 18.
How You will Get Diploma Certificate:
Step 1- Select your Course for Certification.
Step 2- Click on Enroll Now.
Step 3- Proceed to Enroll Now.
Step 4- Fill Your Billing Details and Proceed to Pay.
Step 5- You Will be Redirected to Payment Gateway, Pay Course and Exam Fee by Following Options.
Card(Debit/Credit), Wallet, Paytm, Net banking, UPI and Google pay.
Step 6- After Payment You will get Study Material Login id and Password on your email id.
Step 7- After Completion of Course Study give Online Examination.
Step 8- After Online Examination within 7 days you will get Diploma Certificate soft copy(Scan Copy) and Hard Copy(Original With Seal and Sign) within 30 days.
Step 9- After Certification you will receive Prospect Job Opportunities as per your Interest Area.
Online Examination Detail:
- Duration- 120 minutes.
- No. of Questions- 60. (Multiple Choice Questions).
- 10 Questions from each module, each carry 10 marks.
- Maximum Marks- 600, Passing Marks- 40%.
- There is no negative marking in this module.
How Students will be Graded: | ||
S.No. | Marks | Grade |
1 | 91-100 | O (Outstanding) |
2 | 81-90 | A+ (Excellent) |
3 | 71-80 | A (Very Good) |
4 | 61-70 | B (Good) |
5 | 51-60 | C (Average) |
6 | 41-50 | P (Pass) |
7 | 0-40 | F (Fail) |
Benefits of Certification:
- Government Authorized Assessment Agency Certification.
- Certificate Valid for Lifetime.
- Lifetime Verification of Certificate.
- Free Job Assistance as per your Interest Area.
Diploma In Financial Reporting and Control Account
Accounting Basics- Objectives, Introduction, Development of accounting discipline, An accountant’s job profile: functions of accounting, Utility of accounting, Types of accounting, financial accounting, Management accounting, Cost accounting, Distinction between financial and management accounting.
Preparation of Financial Statements- Financial Statements and supplementary schedules of the General Department, Financial Statements and supplementary schedules of the SDR Department, Financial Statements and supplementary schedules of the Concessional Lending and Debt Relief Trusts, Financial Statements and supplementary schedules of the Administered Accounts.
Branch & Departmental Accounts- Basics, Generally Accepted Accounting Principles, Accounting Concepts and Conventions, Capital & Revenue Transactions, Accounting for Depreciation, Rectification of Errors, Bills of Exchange, Consignment Accounting, Joint Venture Accounts, Insurance Claim, Preparation of Financial Statement of Profit oriented Organizations- Introduction, Bad Debts, Preparation of Financial Statements.
Developments in Financial Reporting- Introduction to Financial Reporting, Balance Sheet, Income Statement, Basics of Analysis, Liquidity of Short-Term Assets; Related Debt-Paying Ability, Long-Term Debt-Paying Ability, For the Investor, Statement of Cash Flows, Expanded Analysis, Special Industries: Banks, Utilities, Oil and Gas, Transportation, Insurance, Real Estate Companies.
GAAP and Accounting Standards- Introduction, Objectives, Scope, Nature of Content and Format, Conceptual Frame Work, Definitions, Principles Applicable to Elements of Cost, Presentation and Disclosure, Conclusion, Applicability of Cost Accounting Practices, focus on drivers of value, Cost for a purpose, Reality driven, Materiality and cost effectiveness, Comparability and consistency, Transparency and auditability.
Consolidated Financial Statements- Consolidated Balance Sheet, Consolidated Statements of Income, Consolidated Statements of Comprehensive income, consolidated statements of changes in equity, consolidated statements of cash flow, Basis of preparation and Presentation of financial statement, Cash and cash Equivalents, Marketable Securities, Trade Accounts Receivable, Inventories, Recoverable Taxes, Advances to Suppliers, Related Parties.
job opportunities after completion of Diploma in Financial Reporting and Control Account course:
Graduates of the Diploma in Financial Reporting and Control Account program are equipped with essential skills in financial reporting, accounting controls, and the preparation and management of financial statements. This program is designed to provide a deep understanding of accounting principles, financial regulations, and control mechanisms necessary for businesses to ensure accurate and compliant financial reporting.
Professionals in this field are critical for organizations to maintain financial integrity, comply with regulations, and make informed business decisions based on accurate financial data. Graduates typically find opportunities in industries like accounting, finance, corporate governance, and auditing.
Here are the career options for graduates of a Diploma in Financial Reporting and Control Account program, along with salary ranges in India:
1. Financial Accountant
- Role: Financial accountants are responsible for preparing and maintaining financial records, such as balance sheets, income statements, and cash flow statements. They ensure that financial reporting is accurate and compliant with accounting standards and regulations.
- Industries: Accounting firms, manufacturing companies, retail, financial institutions, non-profit organizations.
- Salary Range:
- Entry-Level: ₹3,50,000 – ₹5,00,000 per year
- Mid-Level: ₹5,00,000 – ₹8,00,000 per year
- Senior-Level: ₹8,00,000 – ₹12,00,000+ per year
- Note: Salaries vary depending on the size of the company and the complexity of the financial systems managed.
2. Financial Reporting Analyst
- Role: Financial Reporting Analysts focus on creating financial reports, analyzing financial data, and ensuring compliance with accounting standards (such as IFRS or GAAP). They often prepare detailed reports for management and regulatory authorities and assist in audits.
- Industries: Financial services, banking, consulting firms, multinational corporations, government organizations.
- Salary Range:
- Entry-Level: ₹4,50,000 – ₹6,00,000 per year
- Mid-Level: ₹6,00,000 – ₹10,00,000 per year
- Senior-Level: ₹10,00,000 – ₹18,00,000+ per year
- Note: Senior professionals working for large corporations or handling complex financial systems may earn higher salaries.
3. Internal Auditor
- Role: Internal auditors assess the effectiveness of an organization’s internal controls, including financial reporting systems, risk management practices, and compliance with regulations. They identify areas of inefficiency or risk and suggest improvements to internal processes.
- Industries: Corporations, financial institutions, government agencies, public sector enterprises.
- Salary Range:
- Entry-Level: ₹4,50,000 – ₹6,00,000 per year
- Mid-Level: ₹6,00,000 – ₹10,00,000 per year
- Senior-Level: ₹10,00,000 – ₹20,00,000+ per year
- Note: Senior auditors with experience in regulatory compliance or managing large audits can earn significantly higher salaries.
4. Management Accountant
- Role: Management accountants prepare detailed internal reports to assist managers in decision-making. They analyze financial data, forecast future performance, and ensure that financial operations align with strategic goals. They also help in budgeting and cost control.
- Industries: Corporates, manufacturing, retail, healthcare, non-profit organizations, consulting firms.
- Salary Range:
- Entry-Level: ₹5,00,000 – ₹7,00,000 per year
- Mid-Level: ₹7,00,000 – ₹12,00,000 per year
- Senior-Level: ₹12,00,000 – ₹20,00,000+ per year
- Note: Experienced management accountants in large companies or those with specializations in cost control can command higher salaries.
5. Controller (Financial Control)
- Role: Controllers, also known as financial controllers, oversee the financial operations of an organization, ensuring accurate reporting and compliance. They manage accounting teams, coordinate audits, and develop financial policies to maintain the accuracy of financial data.
- Industries: Large corporations, public companies, financial institutions, government organizations.
- Salary Range:
- Entry-Level: ₹7,00,000 – ₹9,00,000 per year
- Mid-Level: ₹9,00,000 – ₹15,00,000 per year
- Senior-Level: ₹15,00,000 – ₹30,00,000+ per year
- Note: Senior controllers working in large multinational companies or handling complex financial portfolios tend to earn higher salaries.
6. Compliance Officer (Financial Sector)
- Role: Compliance officers ensure that organizations adhere to regulatory requirements, particularly those related to financial reporting and controls. They monitor internal financial processes, ensure compliance with tax laws, and prepare for audits.
- Industries: Banking, insurance, financial services, fintech companies.
- Salary Range:
- Entry-Level: ₹5,00,000 – ₹7,00,000 per year
- Mid-Level: ₹7,00,000 – ₹12,00,000 per year
- Senior-Level: ₹12,00,000 – ₹20,00,000+ per year
- Note: Senior compliance officers with a strong understanding of regulations and financial reporting controls can earn higher salaries, especially in large financial institutions.
7. Tax Accountant
- Role: Tax accountants specialize in preparing tax reports and returns, ensuring that an organization complies with all tax laws. They analyze financial records, offer advice on tax planning, and help mitigate tax-related risks.
- Industries: Accounting firms, corporate finance departments, multinational corporations, tax consultancy firms.
- Salary Range:
- Entry-Level: ₹4,00,000 – ₹6,00,000 per year
- Mid-Level: ₹6,00,000 – ₹10,00,000 per year
- Senior-Level: ₹10,00,000 – ₹18,00,000+ per year
- Note: Senior tax accountants working in large firms or with specialized knowledge of international tax laws can earn higher salaries.
8. Audit Manager
- Role: Audit Managers oversee the audit process, ensuring the accuracy of financial statements and compliance with regulatory requirements. They supervise teams of auditors, coordinate with clients, and manage the overall audit strategy and implementation.
- Industries: Accounting firms, financial institutions, multinational corporations, government organizations.
- Salary Range:
- Entry-Level: ₹6,00,000 – ₹8,00,000 per year
- Mid-Level: ₹8,00,000 – ₹14,00,000 per year
- Senior-Level: ₹14,00,000 – ₹25,00,000+ per year
- Note: Senior Audit Managers, especially those in international firms or large corporations, tend to earn higher salaries.
9. Cost Accountant
- Role: Cost accountants focus on analyzing and controlling a company’s costs. They calculate cost of production, allocate resources effectively, and analyze cost structures to improve profitability. They also help in budgeting and financial forecasting.
- Industries: Manufacturing, construction, retail, energy, hospitality.
- Salary Range:
- Entry-Level: ₹4,00,000 – ₹6,00,000 per year
- Mid-Level: ₹6,00,000 – ₹10,00,000 per year
- Senior-Level: ₹10,00,000 – ₹15,00,000+ per year
- Note: Cost accountants with experience in high-volume manufacturing or those in senior positions tend to earn more.
10. Financial Control Consultant
- Role: Financial Control Consultants advise businesses on improving their financial controls, reporting systems, and internal audit practices. They help organizations establish better control mechanisms and compliance frameworks to minimize risks and improve reporting accuracy.
- Industries: Consulting firms, financial advisory firms, multinational corporations.
- Salary Range:
- Entry-Level: ₹5,00,000 – ₹7,00,000 per year
- Mid-Level: ₹7,00,000 – ₹12,00,000 per year
- Senior-Level: ₹12,00,000 – ₹25,00,000+ per year
- Note: Senior consultants, especially those working with top-tier consulting firms or multinational corporations, can command high salaries.
Geographic Variability:
- Metro Cities: Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, and Pune typically offer higher salary ranges due to the presence of large corporations, multinational firms, and financial institutions.
- Tier-2 Cities: Cities like Ahmedabad, Chandigarh, and Kolkata offer slightly lower salaries compared to metro cities but still present opportunities, particularly in regional offices of large organizations or financial services firms.
Conclusion:
The Diploma in Financial Reporting and Control Account offers a wide range of career options in financial management, reporting, auditing, and compliance. Graduates can secure positions in various industries such as accounting, finance, banking, and multinational corporations. With the growing need for financial transparency, reporting accuracy, and regulatory compliance, professionals in this field are in high demand, with competitive salaries and ample opportunities for career growth.