Diploma in Computerized Financial Accounting (DCFA): Fees, Eligibility, Syllabus, Scope

Computerized financial accounting has revolutionized the manual paper method of accounting which takes a lot of time. It is an advanced technology in the finance sector. This 1-year course deals with the technicalities of accounting and finance. Students who are keen to make a career further in commerce and want a deep understanding of finance and accounting can enrol in this course. This course focuses on the technical aspects of the account/finance sector and trains candidates in computerized accounting. This course focuses on the following aspects:

• Managing accounts
• Payroll
• Analyzing forecasts
• Tracking incomes
• Expenditure
• Budgets

Accounting is the study of how an organization tracks their income periodically. Finance accounting includes the following activities:

• Preparation of financial statements
• Record of business transactions

A diploma in computerized accounting gives proficiency over the different subjects along with the software packages that are used in accounting. This course involves software-based accounting and digital spreadsheets. All these digitalization assist in tracking various business or financial transactions. Candidates must be aware of basic Microsoft skills such as Excel, Word, PowerPoint, and finance-related technical terms. In this way, this diploma course covers all skills that are required in the professional career of a candidate.

DCFA Course Details

Eligibility for Diploma in Computerized Financial Accounting

Diploma course in financial accounting is one of the demanding and professional-oriented courses whose eligibility criteria are not very hard. The eligibility criteria for this course is given below:

• The candidate should have qualified the intermediate(10+2) examination.
• Candidates should have obtained a minimum of 45percent in intermediate (10+2) examination.
• No age bar to enrol in this course

Diploma in Computerized Financial Accounting Admission

Candidates can complete the course via correspondence basis or can enrol part-time. For this course, entrance exams may be conducted as per institution rules and regulations. Some colleges directly take admissions based on the merit obtained by the student. Generally, the syllabus for entrance exams includes General aptitude, Computer knowledge, Accounts, Reasoning, Current affairs, and so on. The admission is done based on Merit secured by Candidates in the qualifying examination.

Some recognized colleges also select students based on counselling. The applicant can enrol in this course by both modes: Offline and Online mode. Further, all information related to admission is notified through email.

Admission process

• Students can obtain admission to various colleges based on their academic achievements or by appearing for the entrance exams.
• Candidates must wait for the desired institute to disclose the merit list.
• Students are then asked to go to the colleges to verify their documents.
• They must pay the admission costs after the documents have been verified.

Cutoff of top colleges

A cut-off score for the Diploma in Computerized Financial Accounting is a set of criteria used to evaluate a student's merit or test performance. The qualifying examinations and the number of applicants who appear for the entrance examination determine the cutoff for the Diploma in Computerized Financial Accounting, which varies for each college.

Diploma in Computerized Financial Accounting Skills Required

Skills are very important to grow and develop in any area. Like any other sector, some skills are also required in the computerized financial sector. Important skills are mentioned below:

• Bookkeeping
• Accounting and Asset
• Balance sheet
• Capital
• Numeric calculations
• Credit and Debit
• Expenses
• GAAP and Investment
• Profit and loss statement

Apart from theoretical knowledge, the following knowledge is also preferred for this course such as,

• Microsoft office
• Database management
• Communication skill
• Interpersonal skill and analytical skill
• Candidates should have the capability to work for longer times in the computing area.

Diploma in Computerized Financial Accounting Syllabus

In this course, to develop skills in any candidate both theoretical and practical aspects are covered. The students learn data calculation related to the account, business account, and analysis of financial statements. This course provides a professional environment along with academic development. Here a general overview of the syllabus is given. The syllabus can vary according to institutions. There are generally 6 modules in the syllabus.

Apart from the above topics, MS Office and its use, e-commerce, business, and online accounting, Microsoft windows are also taught in the course along with any specific software like Cash Manager, Wings 2000, and so on.

Diploma in Computerized Financial Accounting Fees Structure and Details:

The course fee of different educational institutes varies as per location, college, and course procedure. The average estimated fee for the course varies between Rs. 8000 to Rs. 1.5 Lakhs.

Scope of Diploma in Computerized Financial Accounting

The backbone of the business system is financial accounting. Companies, investors, and officers can make sound judgments based on the information created and retained by financial accountants using the financial accounting framework. Faster and more efficient record-keeping, access to real-time financial data, automated invoicing, and cost savings are all advantages of a computerised system. Most accounting software, for example, can generate invoices, receipts, and credit notes automatically.

Career option after Diploma in Computerized Financial Accounting

There are huge opportunities in private as well as in government jobs after completion of the Diploma course in computerized accounting. The job role can vary from entry-level to executive or administration level. Candidates can choose any path as per their choice. The options are given below.

Accountant: Accountants handle various accounts and related applications using a particular software.

Business Executive: Business Executives assist the organization in building a relationship with new clients, increasing the sell of products

Audit Officer: Audit Officers manage and control the operations of accounts audit. They develop plans and examine the outcomes

Commercial Assistant: Commercial Assistants perform administrative duties related to business

Cashier: Cashier Maintains cash vouchers/credit cards/debit cards/cheque issue receipt/refunds and also keeps cash details.

Benefits of studying Diploma in Computerized Financial Accounting

Diploma in Computerized Financial Accounting course syllabus is career-oriented. The course also provides accounting software knowledge. In this way, the course is technically sound. Many career opportunities are available after completion of the course. Computerized financial accounting is beneficial in the current financial sector. Companies prefer those candidates who have technical knowledge. Being computerized it saves a lot of time in account-related calculations and financial transactions. It also gives a more accurate result. Being software-based, computerized accounting systems are faster to use and error-free. It can work efficiently and cut down all external costs.

Expected salary

Computerized financial accounting has become the well-paid job sector in accounting. The candidates’ salaries vary according to the job profile and increase with experience also. Here some of the famous job profiles along with their remuneration figure are mentioned below.

Companies who hire computerized accounting certified candidate

Almost every startup and multinational company hires candidates who are certified in computerized finance accounting. Here, a list of top recruiters is given below.

• Financial Organizations

• Tata Motors

• Wipro limited

• Bharat Electronics Ltd

• Vedanta Ltd

• HPCL

• L & T Finance Limited

• SBI Capital Markets Limited

• Various Banks

List of top 10 Diploma in Computerized Financial Accounting colleges in India

In India, there are a number of educational institutes that provide a Diploma in Computerized Financial Accounting. Prior academic achievements and admission test scores are used to determine admission. The leading universities and institutes in India that provide a Diploma in Computerized Financial Accounting are listed below:

Top private Diploma in Computerized Financial Accounting colleges in India

A Diploma in Computerized Financial Accounting is offered by a number of private colleges in India. A degree from a private institution is much more expensive than one from a public university. The following are some of the best private universities for a Diploma in Computerized Financial Accounting:

Top government Diploma in Computerized Financial Accounting colleges in India

Attending a government-run college is less expensive than attending a private college. In India, these colleges are noted for their high academic standards. The following are some of the best government colleges that offer a Diploma in Computerized Financial Accounting: