Commerce – Careers, Courses
This section deals with Commerce education in India after Class 12. Commerce is one of the most important streams of education in India after Science. Some students even opt for commerce as the first choice after Class 12. Commerce in its broad sense is the exchange of items of value or products between persons or companies and any such exchange of money for a product, service, or information is considered a deal of commerce. Over the years, the importance of commerce as a stream has increased with the integration of the world economy.
Courses in Commerce
As a stream of study, Commerce can be studied right after 10 years of schooling. After the 10 years of schooling – commerce is available as an option in 10+2 or the Higher Secondary level. This paves the way for higher studies in commerce related subjects. One can pursue B.Com after Class 12 and shape a career in various sectors like banking, financial services, business and industry, government services and law. B.Com also opens doors for Bachelor in Business Administration and Bachelor in Business Management.
The undergraduate (B.Com) and postgraduate (M.Com) courses in Commerce is offered at University departments and colleges spread all across the country. For more information on courses in commerce.
A number of subjects can be studied under disciplines of Commerce in conjugation like; accountancy, economics, mathematics, business, finance etc. Most commerce colleges in India offer the following subjects:
Business economics: This would cover concepts like the laws of demand and supply, a law of returns, elasticity, the theory of pricing under different market forms etc.
Financial accounting: This subject would deal with the preparation of profit and loss statements, balance sheets and final accounts of a company, knowledge of Indian and international accounting standards, calculation of depreciation and valuation of shares and goodwill of a company.
Cost accounting: This would include process, job and contract costing, costing of overheads, standard and variance costing and budgetary control.
Income tax: This would encompass the nature and basis of the charge of income tax, tax planning, tax deduction, incomes not taxable etc.
Auditing: This would deal with vouching, valuation and verification of transactions, assets and liabilities. It will also include studying the auditing of different organizations like clubs, hospitals and charitable concerns.
Business finance: This would include in its scope financial analysis as a diagnostic tool, the management of working capital and its components as well as capital structure leverages.
Business law: This subject would discuss the different laws in India relating to, among others, the Companies Act and the Consumer Protection Act.
Marketing: This subject would deal with products, pricing methods, promotion, channels of distribution, logistics etc.
Careers in Commerce
Commerce offers a foundation for many professional careers like Finance, Planning, Accountancy, Tax Practitioners, Banking and Broking etc, besides academics, research, and many more. Commerce as a stream of study after Class 12 is best suited for individuals having flair for accounting, finance, commodities, marketing and trading. For the list of careers in commerce. After B.Com student can go for a professional course like CA, CS, CWA.