BAF: Full form, Course details, Fees, Salary, Job and Scope

By: Udit Trivedi on 2022-06-23 10:45:41

 

Overview

Bachelor of Accounting and Finance (BAF) is a three-year undergraduate course that offers in-depth knowledge in accounting and financial subjects by different means such as classroom teachings, seminars, projects, practical training, industrial visits, conferences, expert talks, etc. The course helps aspirants to acquire knowledge in the field of accounting, taxation, auditing, risk management, financial accounting, taxation, managerial economics, business law, and business communications. 

BAF Course Details

BAF Course Type

Undergraduate

BAF Course Duration

3 years full-time (Divided into six semesters)

Minimum Qualification

10 + 2

Minimum Marks Percentage

Usually 55-60% (Varies from college to college)

Selection Process

Merit/ Entrance test

BAF Course Fees

INR 20,000- 3,00,000

Average Starting Salary

INR 3-10 LPA

 

Types of BAF Courses

Even for a single study programme, there are a variety of learning methods that are tailored to the needs of pupils. The following are the most popular BAF degree categories offered in India:

Full-Time BAF Course: 

The most prevalent degree programme offered by practically every institute in India is a full-time BAF. It is a regular course with courses held on a daily basis. This is the most popular degree programme among students, with the majority opting for the full-time BAF programme. The DUAT, SET, NPAT, and other admission tests used by universities in India for BAF are the most frequent.

Part-Time BAF Course:

Part-Time The Bachelor of Arts in Fine Arts is a part-time degree programme. Part-time courses are currently widely used at many institutions. Part-time study is ideal for working students who need to manage their time. They can work and study at the same time in this type of learning. It is just as gratifying as traditional BFA courses, and students have the same chances for work.

Online BAF Course:

Online Bachelor of Accounting & Finance (BAF) is an online bachelor's degree in accounting and finance that is taught in the field of commerce. The duration of an online BAF might range from 3-4 years, depending on the institute and the student. Many Indian colleges are currently using the online learning approach to offer various courses, including BAF. IGNOU, Suresh Gyan Vihar University, TNOU, and many others are examples of such institutions. It is especially advantageous to students who reside in places without a nearby university. This course is also suitable for students with budgetary restrictions, a lack of time, and so forth.

 

BAF Course Eligibility Criteria

Admission to the Bachelor of Accounting and Finance (BAF) programme is based on the following criteria:

  • Students must have completed their 12th grade in either science or commerce from a recognised board. 
  • For admission to the Bachelors in Finance and Accounting programme, students must have a minimum grade point average of 50%.
  • Entrance tests are administered by colleges, and the results are used to determine admission.
  • To pursue the BAF programme in another country, you'll need to submit IELTS, TOEFL, or PTE results, among others. Additionally, SOP and LORs are necessary while submitting your application.

 

BAF Course Syllabus & Subjects

Financial accounting, cost accounting, taxation, economics, and a variety of other disciplines are covered in the BAF course. However, things taught under this degree may vary slightly from institution to university; most of the typical topics taught in the ordinary BAF curriculum are listed here.

 

 

Semester 1

  • Financial Accounting-Elements of Financial Accounting-Paper I
  • Cost Accounting-Introduction and Element of Cost-Paper 
  • Economics-Micro Economics-Paper I
  • Commerce-Business Environment-Paper I
  • Accounting with Use of Accounting Softwares
  • Business Communication-Paper I
  • Foundation Course-Commercial Environment-Paper I

 

Semester 2

  • Financial Accounting-Special Accounting Areas-Paper I
  • Auditing-Introduction and Planning-Paper I
  • Financial Management-Paper I
  • Taxation-Indirect Taxes-Paper I
  • Business Law-Business Regulatory Framework-Paper I
  • Quantitative Methods for Business-Paper
  • Business Communication-Applications in Business-Paper II

Semester 3

  • Financial Accounting Paper –III (Special Accounting Areas)
  • Cost Accounting Paper –II (Methods of costing)
  • Auditing Paper-II (Techniques of Auditing and Audit Procedures)
  • Economics Paper-II (Macro Economics)
  • Business Law Paper-II (Business Regulatory Framework)
  • Management Paper-II (Introduction to Management)
  • Quantitative Methods for Business Paper –II

Semester 4

  • Financial Accounting Paper –IV (Special Accounting Areas)
  • Taxation Paper-II (Indirect Taxes)
  • Commerce Paper-II (Financial Market Operations)
  • Business Law Paper –III (Company Law)
  • Information Technology Paper-II (Applications in Business)
  • Foundation Course -II (Value Education and Soft Skill)

Semester 5

  • Financial Accounting – Paper – V
  • Cost Accounting Paper-III
  • Financial Accounting Paper – VI
  • Management Accounting Paper – II: Financial Statement Analysis
  • Taxation Paper – III: Direct Tax Paper – I
  • Economics Paper – III: Indian Economy

Semester 6

  • Financial Accounting Paper – VII
  • Cost Accounting Paper – IV
  • Auditing Paper – IV
  • Financial Accounting Paper – VIII
  • Taxation Paper IV: Direct Tax Paper – II

 

Top Colleges for BAF in India

The cost of a BAF programme in India is determined by the infrastructure and amenities provided. In India, BAF courses cost between INR 20,000 to 3 LPA. The specifications of BAF course costs at public colleges and universities differ from those at private institutions.

 

BAF is different from other accounting and finance courses accessible to Indian students in terms of time and price. In comparison to other disciplines, bachelor's degrees in accounting and finance are in great demand. In comparison to international courses, BAF costs in India are extremely exorbitant. Fees for BAF course institutes in India that provide this degree are listed below:

 

Serial No.

BAF Colleges in India

Average Annual Fees

1

Shri Ram College of Commerce

INR 45000

2

Narsee Monjee College of Commerce and Economics

INR 10500-11000

3

Gujarat University

INR 5000

4

Teresian College

INR 60000

5

H. B. Institute of Communication and Management

 

INR 70000

6

H.A. College of Commerce

INR 70000-80000

7

St. Aloysius Evening College

INR 40000

8

Hindu College

INR 16000-18000

9

Stella Maris College

INR 85000-90000

10

Mansarovar Group of Institution

INR 50000

 

BAF Course Scope

Actuarial businesses, banking, business analysis, financial management, actuarial service, auditing, accountancy, taxes, economics, E-commerce, financial analysis, and financial planning are among the exciting opportunities available to BAF graduates. BAF graduates are in great demand by businesses and banks. BAF graduates are employed in both the corporate and public sectors. 

Career Options and Scope of Work

Graduates of the BAF programme are likely to work in fast-growing technology-related accounting firms. As technology progresses, graduates with a diverse set of abilities are in higher demand. Students can also work with KPMG, Deloitte, PWC, Accenture, Oracle, Gartner, SBI, NABARD, PNB, CBI, Goldman Sachs, Wipro, Ernst & Young, World Bank, Cognizant, KPMG, Royal Bank of Scotland, Google, HDFC, ICICI, Axis Bank, Kotak Mahindra Bank, and others. A BAF graduate can pursue a career in the following areas:

Serial No.

Job Title

Average Annual Salary 

1

Financial Analyst

INR 5.5 LPA

2

Accounting Analyst

INR 5.8 LPA

3

Personal Finance Consultant

INR 8.4 LPA

4

Tax Policy Analyst

INR 4.4 LPA

5

Accountant

INR 3.8 LPA

6

Risk Analyst

INR 11.4 LPA

7

Financial Risk Manager

INR 7.5 LPA

8

Marketing Manager

INR 8.6 LPA

9

Financial Consultant

INR 7 LPA

10

Sales & Marketing Executive

INR 8.2 LPA

11

Revenue Agent

INR 4.3 LPA

 

Along with these options, BAF graduate can also pursue the following professional paths with further qualifications:

  • Chartered Accountant (CA): CA is one of India's most prestigious financial degrees, administered by the Institute of Chartered Accountants of India (ICAI). A candidate must pass three stages to become a Chartered Accountant: Foundation, Inter, and CA Final. After completing the second level, a candidate must complete a three-year article. 
  • Chartered Financial Analyst (CFA): The CFA Institute in the United States offers an international certificate programme. It is divided into three levels, with applicants who pass all three earning the designation of CFA Charter. CFA is one of the most difficult financial courses, and CFA Charters are in high demand across the world.
  • Certified Management Accountant (CMA): The designation of certified management accountant (CMA) denotes skill in financial accounting and strategic management. CMA are individuals who have earned this accreditation and are suitable for a number of positions ranging from financial controller to chief financial officer (CFO).
  • Company Secretary (CS): The Institute of Company Secretaries of India (ICSI) governs the profession of Company Secretaries in India, offers a Company Secretary programme (CS). The CS education is divided into two stages: CS executive and CS professional programmes.

What After BFA 

Bachelor of Accounting and Finance is the full form of BAF. A master's degree in accounting and finance is available to accountants with a bachelor's degree in accounting and finance. The Bachelor of Accounting and Finance degree offers a choice of alternatives. Students might seek further education possibilities to deepen their comprehension of the courses after receiving a BAF degree. Students might also use higher education to prepare for a job in research or teaching. Students can enrol in the following BAF courses after finishing their course:

  • MBA in Finance
  • MBA in Cost and Management Accounting
  • M.Com in Accounting and Finance
  • M.Com in Accounting and Taxation
  • PGDip in Professional Accounting
  • M.Com in Finance
  • FRM

Conclusion

This course teaches students how a company's finances function and how to keep track of its accounts. BAF is a new track that will be on the major stream radar shortly. It's a unique field of study that is advised for individuals interested in pursuing a career in finance or accounting. If a student has a strong interest in accounting and finance, he or she should pursue this degree programme. 

 

This undergraduate degree emphasises practical knowledge over theory. This degree can be used by students who desire to pursue chartered accounting or a financial postgraduate course. It is possible to combine it with professional courses such as CA, CFA, and CMA.

 

The average annual fee for this course is roughly INR 30,000. Different universities charge different fees. It depends on multiple factors such as: Faculty, Campus Amenities, Administration, if the school is public, private or non-profit. Through placements, a reputable university will aid the student in their future job if they choose this course. Self-employment is also possible by establishing a firm in this sector relevant to the Course.

FAQ's

Q1) What are the career or job options for students after the BAF course?

Ans. After completing the BFM, BAF, a person can pursue a career as an auditor, accountant, export or import manager, tax consultant, stockbroker, or Financial Risk Manager, or pursue further studies such as Company Secretary (CS), Chartered Accountant (CA), Financial Risk Manager, MBA (Finance), Chartered Finance Analyst (CFA), and so on.

Q2) Is the BAF Course expensive?

Ans: A bachelor's degree takes three years to complete, and the cost varies depending on whether the institute is public or private. The fee may vary from INR 10,000-1,00,000.

Q3) Top Recruiters in the field of Accounting and Finance?

Ans. The following is a list of some of the top recruiters who offer high-paying employment to BAF degree holders.

  • Accenture       
  • Wipro
  • Capgemini
  • Deloitte
  • Genpact
  • Flipkart
  • TCS    
  • Amazon
  • Cognizant
  • Ernst & Young

Q4) What is the cutoff for BAF courses in most universities?

Ans. Admission to B.Com F&A and BAF programs is merit-based. Last year, the cutoff for B.Com Finance and Accounting was around 93%-95%. The required cutoff for this course varies every year. Most universities assign more weightage to the online entrance test score, performance in the personal interview, and micro presentation rather than the board marks in 12th.

Q5) Is BAF a good career option?

Ans. BAF provides a lot of benefits, and it may open a lot of doors for a student, such as MBA, MCom, Finance Certification courses, and so on. As a result, BCom has become a very lucrative professional choice.