About Commerce Education

Commerce is a popular subject amongst Indian students and Indian Economy is growing at a faster pace since services sector comprises a large part of India's GDP therefore there are plenty of career opportunities for commerce graduates.

Commerce stream acts as foundation for several professional careers such as Finance, Planning, Accounting, Tax Practitioners, Banking and Broking etc besides academics research and many more. People who have flair for accounting, finance, commodities, marketing and trading are generally considered ideal for commerce as their choice of profession or career. Aspirants opt for commerce right after 10+2 or higher secondary level thereby paving the way for higher studies in commerce related professions. At under graduate level candidates can go for a bunch of subjects to get the B.Com (G) degree on the other hand they can go for a particular subject as major to get a B.Com (Hons.) degree.

One of the obvious career options available to commerce students is to carry out B.Com and thereafter work as Accountants. Excellent past education records in commerce plays a vital role thereby giving an edge to the commerce students in a career of Insurance and stock market. For those who are more ambitious and bright in studies can opt to become Chartered Accountants, Cost and Work Accountants and Company Secretaries. In addition to this, the rapid industrialization of service sector, more and more career opportunities have emerged for the students of commerce stream.

The undergraduate and post graduate courses in commerce stream are offered in various colleges and universities across the length and breadth of the country. At post graduation and research levels, students can opt for specialization in particular subject. Combination of various subjects can be opted under discipline of commerce in conjugation such as accountancy, economics, mathematics, business, finance and many more.

Admission Procedure to Top Institutes

Under Graduate (UG) Programs- In general B.Com is awarded under the commerce stream and may have two options, one being B.Com (G) and the other being Honors with specialization in a subject.

Eligibility Criteria- Candidate must have completed 17 years of age and 12 years of schooling. In order to get admission in different university, institution or department, one needs to fulfill the eligibility criteria laid by the university.

Post Graduate (PG) Programs- Under the post graduate programme, aspirants are offered Master of Commerce degree in relevant discipline and one is supposed to choose the particular subject of his/her specialization.

Eligibility Criteria- Aspirants are supposed to have completed the Bachelor's degree during the time of admission and he/she requires fulfilling the eligibility criteria of various university departments in which the admission is required.

Master of Philosophy (M.Phil) - This is a pre-doctoral program that is offered by various university and institutes and usually, admission to M.Phil is granted on the basis of past academic record and interview.

Eligibility Criteria- In order to enroll in M.Phil, the candidates with research aptitude and excellent past academic record are given preference. Additionally, the minimum eligibility criteria for admission in M.Phil are M.Com in appropriate discipline.

Doctoral Programs- Doctor of Philosophy (PhD) is awarded in realm in which aspirants carry out research and submit their thesis.

Eligibility Criteria- There is several departments who ask for M.Phil as a qualification for admission in PhD. Also, qualifying in National Eligibility Test (NET) is accepted largely for admission in doctoral degree. Apart from this, candidates having professional qualification can also claim eligibility for PhD admissions.

Career Avenues in Commerce Field

Since as a stream of study, commerce can be opted for study right after 10+2 and is also available as an option in high school. Some of the career options as well as subjects of study are:

• Chartered Accountancy- A rapid expansion in economy, careers in Finance and accounts have gained so much popularity in India that CA has emerged as a most prestigious career option amongst youngsters. Institute of Chartered Accountants of India offers a platform to future chartered accountants by conducting entrances on different levels.

• Business Administration- Degree in business administration is India’s most preferred courses with the impact of privatization and liberalization. Successful completion of MBA degree course in India from a reputed institute promises to yield a career that can touch unknown heights.

• Business Economics-Comprising of day to day concepts of economics including laws of demand and supply, law of returns, elasticity, theory of pricing under varied market forms etc, makes business economics a great subject to study for future economists.

• Financial Accounting- The emergence of MNC in India has led to a great demand of Financial Accountants who keep a close watch on preparation of profit and loss statements, balance sheets and final accounts of company, in-depth knowledge of Indian and International accounting standards, calculation of depreciation and evaluation of shares and goodwill of a company.

• Cost Accounting- Cost accounting process may include job and contract costing, costing of overheads, standard and variance costing and budgetary control. All these things are of high importance in multi national firms and similar organizations.

• Income Tax- Income tax students are of great importance to almost all kinds of organization and these are the professionals who actually study the concepts of nature and basis of charge of income tax, tax planning, tax deduction, income not taxable and many more similar concepts related to income that is liable to subjected for income tax.

• Auditing- This realm deals with vouching, evaluation and verification of varied transactions, assets and liabilities. Auditing also imparts study of auditing various organizations including clubs, hospitals and charitable concerns.

• Business Finance- Business Finance professionals analyze the financial activities of the organization. It imparts the scope financial analysis as a diagnostic tool, the management of working capital and allied components as well as capital structure leverages.

• Business Law and Business Communication- On one hand business law discusses the varied laws in India in compliance to Business such as companies act and the Consumer Protection Act. Similarly, on the other hand, business communication deals with the art of business correspondence that expands over business letter writing, memo writing, notices and many more.
  


• Marketing- Marketing realm deals with products and services offered by the company and pricing methods, promotion, channels of distribution and logistics and many more.