Payal Dutta of Tetso College highlights accountancy's value and diverse career paths in commerce.
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DIMAPUR — Payal Dutta is currently working as an assistant professor in the Department of Commerce at Tetso College in Chümoukedima, Nagaland. Having completed her schooling in Dimapur, she earned her B.Com degree in Accounting and Finance from Nagaland University, then completed her master's programme in Commerce with a specialisation in Accounting from Assam University, and is currently pursuing her PhD at The Assam Kaziranga University, Jorhat.
Her early achievements include securing 6th rank in the HSSLC examinations, 10th position in B.Com, and a gold medal from Assam University in M.Com. Prior to joining academia, she worked in financial institutions such as SBI Life Insurance Co. Ltd., Vodafone Idea Ltd. (formerly Vodafone Essar), and Axis Bank Ltd., with roles in operations.
She started her academic journey at Yemhi Memorial College, Dimapur, as an assistant professor in the Department of Commerce.
A bright student academically, Dutta shares that after her HSLC, she opted for Commerce because banking jobs excited her. While improving her accounting and finance skills, she joined Axis Bank; however, she did not find opportunities to utilise accounting and finance concepts in the roles offered by branch banking in the region. It was then that she thought that her finance knowledge could only be improved by starting the teaching–learning process with young minds.
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In this interview with Eastern Mirror, Dutta shares practical insights on pursuing Accountancy and building a strong career in the field.
For students who have never studied it before, how would you explain Accountancy in the simplest way?
Accountancy in its simplest form can be explained as "being accountable for the incomes earned and expenses incurred in any sort of business". It likes a diary record of business, tracking what is coming in and what is going out.
Why do you think Accountancy is such an important subject in real life—even for people who don’t become accountants?
Accountancy is an important subject in real life. The application of accountancy as a tool is useful everywhere, whether it is a small paan shop or a large industrial house. Of course, the methods of recording may differ, but every individual uses some form of accountancy, knowingly or unknowingly.
For example, a roadside tea stall owner may record how many cups of tea were sold in a day and how much expense was incurred in order to calculate daily earnings. Similarly, a salaried person may maintain a personal ledger to keep track of income and expenses.
What are the biggest myths students have about Accountancy?

The biggest myths students have, especially Class 11 students who did not opt for bookkeeping in their high school, are that Accountancy is all about Mathematics. Some also think that learning accountancy can only make them accountants in a firm or that it is only about tax filing. However, the answer to all these assumptions is a big NO.
What was your experience studying Accountancy as a student — was it easy, difficult, or exciting?
If you ask about my personal opinion, then Accountancy was one of the most exciting papers in my entire academic life.
What are the main topics students study in Accountancy at the college level?
For a student opting for B.Com in their undergraduate studies, the main topics they learn include Financial Accounting. This covers Company Final Accounts, Consolidated Balance Sheets of Holding Companies, Hire Purchase, Branch Accounting, Liquidation, Accounting for Shares, and Valuation of a Company.
They also study Income Tax provisions, various heads of income, and the filing of Income Tax Returns for salary income and income from house property.
In addition, they learn Management Accounting and Cost Accounting.
How does Accountancy connect with real businesses and real money decisions?
Accountancy is not just about numbers. In fact, it is the language of business. Every business decision is ultimately a money decision, and accountancy provides the information needed to make those decisions wisely.
For instance, when a business wants to expand, open a new branch, hire more employees, or invest in new technology, it cannot take such important decisions based on guesswork. It must first understand its profits, costs, cash flow, liabilities, and overall financial stability. This information is available only through accounting records and financial statements. Without accountancy, a business would not know whether it is truly making a profit or simply surviving.
In fact, accountancy is applicable to everyone, whether they are entrepreneurs, managers, policy makers, or even households. They use accounting principles to plan budgets, evaluate risks, and manage financial matters effectively.
How important is attention to detail in this field, and how can students improve it?
Accountancy deals with compliance, taxation, auditing, financial reporting, and much more. A misplaced decimal, a wrongly recorded transaction, or a missed entry can result in financial loss, legal penalties, or damage to a company’s reputation. Therefore, anyone working in this field must be disciplined, precise, and methodical.
Attention to detail builds credibility and trust, which are the foundation of any financial profession. This is because almost all organisations, whether banks, government authorities, businesses, or others, rely on financial data. Accuracy is not optional; it is a responsibility.
Students can master this skill by developing steady habits and practising regularly. They should start by making double-checking a routine instead of rushing through entries. They should also adopt organised problem-solving methods with sequential steps, detailed calculations, and neat workings to reduce mistakes. Lastly, students should work on real-world case studies and examples to sharpen both precision and understanding.
With regular practice, patience, and discipline, students from any background can develop the accuracy required to succeed in accountancy and related financial fields.
What subject combinations should students choose in school if they want to study Accountancy seriously?
For Class 11 and Class 12 students from the commerce background, Accountancy is a compulsory subject. However, while choosing the optional paper, it would be beneficial for them to opt for Fundamentals of Business Mathematics and Financial Markets Management.
After completing Class 12, they can opt for B.Com. At the undergraduate level, the subject combination is usually fixed by the university as per the prescribed syllabus.
After Class 12, what are the degree options for students interested in this field?
The most common option is B.Com, which provides a strong foundation in accounting, finance, taxation, economics, and business law. Many universities also offer B.Com (Honours) with specialisation in Accountancy or Finance for students who want deeper subject expertise. Some institutions also provide a B.Com integrated with ACCA, or a B.Com with a specialisation in Taxation. Students may also opt for a BBA with a specialisation in Finance.
After completing the undergraduate degree, students can pursue a Master’s programme in the same field.
If they want a focused and professional career in accountancy, they can pursue courses such as Chartered Accountancy (CA), Cost and Management Accounting (CMA), Chartered Financial Analyst (CFA), or Certified Public Accountant (CPA).

Many students hear about CA, CMA, and CS — can you explain what these are and how they differ?
I have shared some insights on this question in my previous answer as well. However, if you ask me in detail, CA (Chartered Accountant), CMA (Cost and Management Accountant), and CS (Company Secretary) are three prestigious professional qualifications in the commerce field, but they focus on different areas of business.
A Chartered Accountant (CA) mainly deals with accounting, auditing, taxation, and financial reporting. CAs ensure that financial statements are accurate, compliant with laws, and transparent. They often work in audit firms, corporate finance departments, or tax consultancies, or even start their own practice. If someone is interested in financial analysis, auditing, or taxation, CA is a strong choice.
A Cost and Management Accountant (CMA) focuses more on cost control, budgeting, performance analysis, and strategic financial planning within organisations. CMAs help companies reduce costs, improve efficiency, and support managerial decision-making. This qualification is ideal for students who are interested in internal business strategy, cost management, and management accounting.
A Company Secretary (CS) specialises in corporate law, governance, compliance, and regulatory matters. CS professionals ensure that a company follows legal procedures, maintains proper documentation, and complies with corporate regulations. They also play an important advisory role in board meetings and corporate decision-making. Students who are interested in law, corporate governance, and regulatory frameworks may find CS more aligned with their interests.
What are the most common career paths for students who study Accountancy?
Some of the highest-paying and most in-demand jobs in today’s industry come from the finance and accounting background. Therefore, students who study Accountancy have a wide range of career options.
The most common career path is becoming an Accountant, working in firms or companies to prepare financial statements and maintain financial records. Many students also pursue careers in Taxation, helping individuals and businesses with tax planning, compliance, and return filing.
Another popular area is Corporate Finance, where professionals work as financial analysts, finance managers, or financial controllers. Students can also enter fields such as Investment Banking, Financial Analysis, Fund Management, and Financial Research.
This list is not exhaustive, as accountancy skills are useful in many industries. With relevant add-on courses and certifications, students can explore even more opportunities in the finance sector.

RAPID INSIGHTS
Your favourite way to relax after a long day?
After a long day, I like to relax with a cup of tea and have conversations with my friends and family.
If you weren’t a professor, what would you be?
If not a professor, I would like to work as a Financial Analyst. Accounting and Finance are what truly help me be myself.
What’s something students do that secretly makes teachers happy?
As a teacher from an accountancy background, one thing students do that secretly makes teachers really happy is when they genuinely try to prepare and tally their balance sheet on their own, instead of just copying the solution. It shows they are actually thinking and applying the concepts. Another thing is curiosity. When students ask questions, even repeatedly, it may look like they are troubling the teacher, but it actually makes teachers happy because it shows the student is engaged and wants to understand.