MFA vs MFC: Eligibility Criteria, Admission Processes and Top Colleges

Updated On: September 12, 2023 05:38 pm IST

Confused between MFA vs MFC courses? Here are the differences between MFA and MFC courses offered in India. You can learn more about the MFA and MFC eligibility criteria, admission processes, course syllabus and colleges that offer the course.

Table of Contents

About the Course: MFA vs MFC
Eligibility Criteria: MFA vs MFC
Course Syllabus: MFA vs MFC
Admission Process: MFA vs MFC
Top MFA and MFC Colleges in India
Career Opportunity and Future Scope: MFA vs MFC
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The field of commerce is extensive and multifaceted, offering numerous roles, functions, and specializations for aspiring professionals seeking lucrative career opportunities. In India, educational institutions provide a variety of commerce courses, including the Master of Finance and Accounting (MFA) and the Master of Finance and Control (MFC). Despite their apparent similarities, these two degrees lead to distinct career paths, both of which play vital roles in the effective operation of organizations and institutions.

In this article, we will explore the disparities and commonalities between MFA and MFC, including career prospects, eligibility requirements, course content, and other pertinent factors.

About the Course: MFA vs MFC

Check out the brief description of the two courses, i.e. MFA and MFC in the table given below.

Course Features	Master of Finance and Accounting (MFA)	Master of Finance and Control (MFC)
About	The postgraduate programme offers training in the management and accounting of finances with the help of different strategies. It provides the students with a conceptual understanding of the inner workings of a business as well.	The graduates of the PG programme will be trained extensively in aspects of risk management, financial planning and decision-making. Along with financial management, graduates will also learn general management
Duration	The Master of Finance and Accounting is a two-year postgraduate programme of in the MFA Colleges in India.	The Master of Finance and Control course is also a two-year PG degree offered in MFC Colleges in India
Higher Studies	Pursuing an MFA course would open up research opportunities to aspirants. Graduates can attempt UGC NET and pursue PhD or Junior Research Fellowships (JRF)	Like MFA, MFC graduates will also be eligible for research opportunities. Similarly, candidates can attempt UGC NET and pursue PhDs or Junior Research Fellowships
Why Pursue?	Pursuing an MFA course will improve the career prospects of a candidate as better packages and job positions will be on offer at different organisations. Being a specialised programme, the demand for qualified and skilled professionals particularly in this field is high, thus, indirectly resulting in the availability of lucrative career opportunities.	Like MFA, MFC will help graduates enhance their career prospects with better packages and better positions available in different industries. However, MFC trains and qualifies candidates to be managers and decision-makers in the industry, making them an essential part of an organisation’s growth and development

If you wish to learn more about the courses, then check out the links given below that define the two courses extensively.

Eligibility Criteria: MFA vs MFC

Like any other postgraduate programme offered across educational institutions in India, aspirants of either of the courses are required to meet the requisite eligibility criteria for MFA and MFC. While each individual college offering the courses will define its own specific eligibility criteria, there are certain general requirements that each candidate must qualify for, as has been outlined below.

Category	MFC and MFA Eligibility
Academic Requirement	Bachelor's Degree in Commerce, Banking or Finance, or equivalent degree from a recognised university.
Aggregate Score Requirement	45%-50% or Higher
Subject Preference	Commerce, Economics, Finance, Accounting or equivalent.

Course Syllabus: MFA vs MFC

One of the key areas of similarities and differences that can be seen between the two degrees is the course syllabus of MFA and MFC. While there may be a few subjects that are common between the two degrees, there are certain subjects that will be unique to each. Here are some of the subjects and topics of Master in Finance and Accounting (MFA) and Master of Finance and Control (MFC).

Master of Finance and Accounting	Master of Finance and Control
Theory and Standards of Accounting	Managerial Economics
E-Commerce	Business Environment
Direct and Indirect Taxes	Business Finance
Investment and Portfolio Management	Corporate Tax Planning and Management
Advanced Corporate Accounting	Management Control System
Cost Control Techniques	Financial Accounting
Financial Markets and Institutions	Working Capital Management
Quantitative Techniques Finance	Financial Decision-Making
International Financial Management	Quantitative Techniques

Note: The subjects and topics that have been mentioned above are just some of the topics that have been taught in classrooms across India. Each individual college will design its own curriculum according to its requirements and the guidelines of the governing authority.

Admission Process: MFA vs MFC

Admissions to either of the courses, i.e. Master of Finance and Accounting or Master of Finance and Control, will be defined individually by each individual college offering the courses. However, most educational institutions offer admission to the courses in two prominent methods, namely, Entrance-Based or Merit-Based admissions. Here are the admission processes usually opted for by MFA and MFC Colleges in India.

Entrance-Based Admissions

Being one of the highly sought-after courses, many universities, colleges and institutions offer admission based on the scores obtained by the applicants in an entrance test. The entrance examinations for MFA and MFC courses are usually conducted at the university level, which means the scores obtained in the test will be applicable to the constituent or affiliated colleges/institutions of the particular University/Educational Institution.

Under such an admission process, candidates will be required to download the respective Admit Card or Hall Ticket for the entrance test.
After attempting the entrance test, the university will release the appropriate merit lists, containing the names of the candidates with their scores and rank.
Based on these scores and ranks, the university/college will call the prospective students for further admission processes such as appearing for a Personal Interview and/or Group Discussion.
Prospective students will be selected for admission based on their overall performance in the entrance exam and the Personal Interview and/or Group Discussion.

Merit-Based Admission

Many Colleges and Institutions offer admissions to candidates based purely on their qualifying marks and certain selection processes which may have been put in place by the respective colleges. Here are the steps in the Merit-Based Admissions for MFA and MFC courses in India.

Candidates will be called for the Document Verification Process, subsequently being asked to appear for a Personal Interview and/or Group Discussion.
Depending on the overall performance of the candidates in the selection parameters, including the past academic record and the personal interview and/or Group Discussion, the candidates will be selected for admission to the courses.

Counselling-Based Admissions

A sub-selection process opted usually by Universities with many constituent institutions or affiliated colleges offering the same course, is a counselling-based admission process. The counselling-based admission processes can be a part of both entrance-based admissions and merit-based admissions. In such a scenario, candidates are called for counselling processes instead of personal interviews or group discussions. Here are the steps in a counselling-based admission process in India.

In the case of entrance-based admissions, candidates will be called for the counselling process based on their ranks and scores mentioned in the merit lists.
In the case of merit-based admissions, the university will release the appropriate merit lists containing the names of the candidates according to their merit.
Based on the ranks and merit of the candidates, each applicant will be asked to appear for the counselling session on the stipulated date and time at the correct counselling centres.
Here, candidates will be asked to select the course and college of their choice.
Based on their scores and ranks along with individual candidate’s choice of course and college and the available seats in the respective choices, the candidates will be offered admission to the courses.

Note: Apart from these commonly opted admission processes, a few colleges for MFA and MFC also offer direct admissions to the respective courses.

Top MFA and MFC Colleges in India

If you are looking forward to pursuing an MFA or MFC programme then you must check out the list of top MFA and MFC Colleges in India.

College Name	Course Offered
AIMS Institute Bangalore	Master in Finance and Accounting
Acharya Institutes Bangalore	Master of Finance and Accounting
Regional College of Management Bhubaneswar	Master of Finance and Control
Department of Financial Studies, Delhi University	Master of Finance and Control
Gupta College of Management and Technology Bangalore	Master of Finance and Accounting
Sai Institute of Paramedical & Allied Science Bangalore	Master of Finance and Control
Al-Falah University Faridabad	Master of Finance and Control
Institute of Media, Management and Technology Dehradun	Master of Finance and Control
Banki College Cuttack	Master of Finance and Control
Thiagarajar College Madurai	Master of Finance and Control

Career Opportunity and Future Scope: MFA vs MFC

The Finance and Banking industry in India has been offering lucrative career opportunities to aspirants of the field. With proper academic qualifications and professional experience in the field, the career scope of an MFA or MFC graduate is immense. Here are the career opportunities and future scope of MFA and MFC graduates.

Course	Master of Finance and Accounting	Master of Finance and Control
Job Profiles	Accountant Investment Analyst Market Analyst Personal Finance Consultant Operations Manager	Financial Analyst Corporate Analyst Operations Manager Business Analyst Budget Manager Marketing Manager
Areas of Employment	Finance and Banking Sector Indian Civil Services Indian Economic Services Export and Import Industry Consultancy Organisations	Real Estate Management Financial Commercial Banking Venture Capital Banking Sector Consultancy Services Treasury Management
Average Salary	Initial Salary - ₹3,75,000 - ₹5,00,000 Salary with Experience - ₹6,00,000 - ₹16,00,000 The salaries mentioned here depend on various factors. The actual amount will vary from company to company and job profile as well.	Initial Salary - ₹4,50,000 - ₹5,80,000 Salary with Experience - ₹6,30,000 - ₹20,00,000 The salaries mentioned here depend on various factors. The actual amount will vary from company to company and job profile as well.
Higher Studies	Graduates can pursue PhD programmes or JRFs after attempting UGC NET.	Graduates can pursue PhD programmes or JRFs after attempting UGC NET.

These were among the major differences and similarities between the Master of Finance and Accounting vs Master in Finance and Control. If you are interested in pursuing either an MFA or MFC course from one of the top colleges in India, then fill out the Common Application Form, available on our website. Our counsellors can help you choose the perfect course and college as per your requirements and aspirations.

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These represent some of the primary distinctions and parallels between the Master of Finance and Accounting and the Master in Finance and Control. If you're considering enrolling in either an MFA or MFC program at one of India's premier colleges, you can complete the Common Application Form found on our website. Our advisors are available to assist you in selecting the ideal course and college that aligns with your specific needs and career aspirations.

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