Brief description of Finance and Accounting
Finance
Finance is a broad term that describes activities associated with banking leverage of debt, credit, capital markets, money and investments. Basically, finance represents money management and the process of acquiring needed funds. Finance also encompasses the oversight creating and study of money, banking, credit, investments, assets and liabilities to make up financial systems.
Accounting
Accounting is the process of recording financial transactions, pertaining to a business. The accounting process includes summering, analysing and reporting these transactions to oversight agencies, regulators and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarising a company’s operations, financial positions and cash flows.
Few lines about Master of Finance & Accounting (MFA)
Master of Finance & Accounting (MFA) is a postgraduate course that is divided into 4-semesters. The course is designed to target the demand for skilled professionals in the field of accountancy and finance. The course has been designed to primarily focus on the concepts and principles of finance and accounting in different scenarios.
The course primarily trains the students to account, manage and plan finances in different settings through different methodologies.
Eligibility for Master of Finance and Accounting (MFA)
The students who have completed their undergraduate in B.Com/BBM/BBA with 50% aggregate from recognised university are eligible to apply for MFA course.
Admission Procedures
The students with relevant degrees can get admission to MFA courses by two modes of admission. The first one is merit admissions and 2nd one is direct admissions.
1. Merit Admissions
There are certain government registered bodies that conduct entrance exams for MFA students. There are also certain top institutes that conduct entrance exams for students for offering admissions to MFA. The students who are confident about their capabilities can apply to these entrance exams and clear them with high marks. This mode of admission is called a merit admissions procedure. The probability of getting merit seats is very less due to increased competition for available limited seats in colleges and universities. So, admission is not guaranteed under merit admission procedure. The fees are also reasonable for merit admissions.
