Commerce

B.Com, having the full form as Bachelor of Commerce, is a three-year UG degree course recognized by the Universities Grants Commission (UGC). Along with the full-time delivery mode, one can also pursue Distance B Com or Online course. BCom is one of the most popular courses amongst the Class 12 graduates with the Commerce stream. As per the AISHE reports, with nearly 9.33 lakh enrollment, B.Com has been the third most desired course in India after Class 12. B.com candidates can also pursue B.Com (Honours) if they wish for in-depth knowledge in the Commerce stream.
The honours course is designed to offer knowledge in specialized subjects; while, the general BCom course focuses on an overview of all the subjects under the umbrella of the Commerce stream. Apart from BCom General or BCom Hons, several universities offer integrated B.Com courses; BCom LLB, BCom MBA and BCom CMA are a few of the integrated courses on offer.

The three year BCom course is divided into six semesters. Students pursuing the course can choose elective subjects of their choice in some semesters. BCom degree course includes Financial Accounting, Business Laws, Economics, Taxation, Auditing, Cost Accounting, among others. BCom degree, is a great option to start a career in related fields such as Finance, Accounting, Banking, Insurance, etc. The average starting salary of a BCom graduate is INR 3 LPA. B.Com is a major chunk of students passing Class 12 with Commerce stream aspire for Chartered Accountancy, Company Secretaryship, and Cost Accounting. After completion of the BCom course from a recognized institute, one can go for courses in teaching, advertising, journalism, mass communication, design, law, etc.

Eligibility Criteria

Space below hosts the eligibility criteria for BCom course:

  • Candidate should have studied Commerce in Class 11 and 12 with some compulsory subjects including Accountancy, Business Studies, Maths/optional subject, and/ or Economics
  • Candidates have to meet the minimum cutoff score as released by the university/ institute for admission

NOTE: The minimum cut off score criteria differ across universities

Factors influencing BCom cutoff scores for admission

  • No. of applicants to universities
  • Class 12 score in commerce
  • BCom course seat availability
  • Based on cutoff scores, etc.

Top Entrance Exam (University-Level)

  1. IPU CET
  2. BHU UET
  3. NMIMS PAT
  4. Jain University JET

We want to introduce you a great platform for the learning as well as earning, Chegg, India , here at Chegg India, we hire online tutors in the form of freelance subject experts. We entrust our freelance experts with the responsibility to provide quality answers to questions uploaded to our Q&A portal. The main goal of entrance exams in the Indian educational system is to secure admission to various colleges. Different fields have different entrances tests. It is based on the study program that the student has done. The aim of entrance tests is to assess a student’s capacity to handle academics. That a person will face in the future and to give in-depth knowledge on a certain topic. Both descriptive and objective patterns are in the admission test.

Subjects in Commerce

BCom syllabus is broken into six semesters and below is the semester-wise list of subjects taught as per the BCom course curriculum:

BCom Semester Subjects
BCom Syllabus – 1st Semester
 Environmental Studies
Financial Accounting
 Business Organisation and Management
Generic Elective* a) Principles of Micro Economics
b) New Venture Planning
BCom Syllabus – 2nd Semester
 Language
Business Laws
Business Mathematics and Statistics
Generic Elective* a) Principles of Macro Economics
b) Economics of Regulation of Domestic and Foreign Exchange Markets
BCom Syllabus – 3rd Semester
Company Law
Income Tax Laws
Discipline-Specific Elective* a) Indian Economy
b) Financial Markets and Institutions
·       Skill Based Subject* a) Banking & Insurance
b) Financial Analysis and Reporting
BCom Syllabus – 4th  Semester
Indirect Tax Laws
Corporate Accounting
Discipline-Specific Elective* a) Human Resource Management
b) Industrial Laws
Skill Based Subject* a) E-Commerce
b) Investing in Stock Markets
BCom Syllabus – 5th  Semester
Auditing and Corporate Governance
Cost Accounting
Discipline-Specific Elective* a) Principles of Marketing
b) Training and Development
Skill Based Subject* a) Computer Applications in Business
b) Advertising
BCom Syllabus – 6th Semester
Fundamentals of Financial Management
Business Communication
Discipline-Specific Elective* a) International Business
b) Consumer Affairs and Customer Care
c) Entrepreneurship & Small Business
d) Organizational Behavior
e) Indian Polity and Governance
f) Office Management and Secretarial Practice
g) Corporate Tax Planning
h) Fundamentals of Investment
i) Management Accounting
Skill Based Subject* a) Personal Selling and Salesmanship
b) Cyber Crimes and Laws

Jobs for Commerce

The commerce field offers various lucrative career options for students and has seen an increase in demands for various job positions. The salary is one of the basic aspects for any job which depends on the set of skills and degrees one possesses. to ease your pathway, here is a list of the top 15 highest salary jobs for commerce students that can help you land on a decent salary and give you the required experience, some of these job profiles are:

  1. Chartered Accountant (CA)
  2. Marketing Manager
  3. Investment Banker
  4. Human Resource Manager
  5. Chartered Financial Analyst (CFA)
  6. Certified Public Accountant (CPA)
  7. Actuary
  8. Cost Accountant
  9. Business Accountant and Taxation
  10. Retail Manager
  11. Company Secretary
  12. Personal Financial Advisor
  13. Research Analyst
  14. Entrepreneur
  15. Chief Executive Officer (CEO)

Average salary chart for Commerce students

Job Salary
Chartered Accountant (CA) ₹6-7 Lakhs per annum
Marketing Manager ₹6-7 Lakhs per annum
Investment Banker ₹9-10 Lakhs per annum
Human Resource Manager ₹7-15 Lakhs per annum
Chartered Financial Analyst (CFA) ₹12 lakhs per annum
Certified Public Accountant (CPA) ₹7-9 lakhs per annum
Actuary ₹10-14 lakhs per annum
Cost Accountant ₹4 lakhs per annum
Business Accountant and Taxation ₹6-7 lakhs per annum
Retail Manager ₹5-6 Lakhs per annum
Company Secretary ₹6-7 lakhs per annum
Personal Financial Advisor ₹3-5 Lakhs per annum
Research Analyst ₹3-5 Lakhs per annum
Chief Executive Officer (CEO) ₹24 Lakhs per annum
Entrepreneur ₹110-120 lakhs

Accounting

Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company’s operations, financial position, and cash flows.

How it Work?

Accounting is one of the key functions of almost any business. It may be handled by a bookkeeper or an accountant at a small firm, or by sizable finance departments with dozens of employees at larger companies. The reports generated by various streams of accounting, such as cost accounting and managerial accounting, are invaluable in helping management make informed business decisions.

The financial statements that summarize a large company’s operations, financial position, and cash flows over a particular period are concise and consolidated reports based on thousands of individual financial transactions. As a result, all accounting designations are the culmination of years of study and rigorous examinations combined with a minimum number of years of practical accounting experience.

Types of Accounting

Financial Accounting

Financial accounting refers to the processes used to generate interim and annual financial statements. The results of all financial transactions that occur during an accounting period are summarized into the balance sheet, income statement, and cash flow statement. The financial statements of most companies are audited annually by an external CPA firm. For some, such as publicly traded companies, audits are a legal requirement.6 However, lenders also typically require the results of an external audit annually as part of their debt covenants. Therefore, most companies will have annual audits for one reason or another.

Managerial Accounting 

Managerial accounting uses much of the same data as financial accounting, but it organizes and utilizes information in different ways. Namely, in managerial accounting, an accountant generates monthly or quarterly reports that a business’s management team can use to make decisions about how the business operates. Managerial accounting also encompasses many other facets of accounting, including budgeting, forecasting, and various financial analysis tools. Essentially, any information that may be useful to management falls underneath this umbrella.

Cost Accounting

Just as managerial accounting helps businesses make decisions about management, cost accounting helps businesses make decisions about costing. Essentially, cost accounting considers all of the costs related to producing a product. Analysts, managers, business owners, and accountants use this information to determine what their products should cost. In cost accounting, money is cast as an economic factor in production, whereas in financial accounting, money is considered to be a measure of a company’s economic performance.

Requirements for Accounting 

Accountants use generally accepted accounting principles (GAAP) when preparing financial statements in the U.S. GAAP is a set of standards and principles designed to improve the comparability and consistency of financial reporting across industries. Its standards are based on double-entry accounting, a method in which every accounting transaction is entered as both a debit and credit in two separate general ledger accounts that will roll up into the balance sheet and income statement. In most other countries, a set of standards governed by the International Accounting Standards Board named the International Financial Reporting Standards (IFRS) is used.

Economics

Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices about how to allocate resources. Economics focuses on the actions of human beings, based on assumptions that humans act with rational behavior, seeking the most optimal level of benefit or utility. The building blocks of economics are the studies of labor and trade. Economics has many possible applications of human labor and many different ways to acquire resources, it is the task of economics to determine which methods yield the best results.

How Economics important?

One of the earliest recorded economic thinkers was the 8th-century B.C. Greek farmer/poet Hesiod, who wrote that labor, materials, and time needed to be allocated efficiently to overcome scarcity. Economists found modern Western economics much later, generally credited to the publication of Scottish philosopher Adam Smith’s 1776 book, An Inquiry Into the Nature and Causes of the Wealth of Nations.1

The principle (and problem) of economics is that human beings have unlimited wants and occupy a world of limited means. The concepts of efficiency and productivity are held paramount by economists. Increased productivity and a more efficient use of resources, they argue, could lead to a higher standard of living.

Types of Economics

Economics is divided into two disciplines.

Microeconomics

Microeconomics focuses on how individual consumers and firms make decisions; these individual decision making units can be a single person, a household, a business/organization, or a government agency. Microeconomics analyses certain aspects of human behavior, explain changes in price and why they demand, what they do at particular price levels. Microeconomics tries to explain how and why different goods are valued differently, how individuals make financial decisions. It helps individuals best trade, coordinate, and cooperate with one another. Microeconomics’ topics range from the dynamics of supply and demand to the efficiency and costs associated with producing goods and services; micro economics include how labor is divided and allocated; how business firms are organized and function; and how people approach uncertainty, risk, and strategic game theory.

Macroeconomics

Macroeconomics studies is a national and international level, using highly aggregated economic data, variables to model the economy. Its focus can include a distinct geographical region, a country, a continent, or even the whole world. Its primary areas of study are recurrent economic cycles and broad economic growth and development. Topics studied include foreign trade, government fiscal and monetary policy, unemployment rates, the level of inflation and interest rates, the growth of total production output as reflected by changes in the Gross Domestic Product (GDP), and business cycles that result in expansions, booms, recessions, and depressions.

Micro- and macroeconomics

Micro- and macroeconomics are intertwined. Aggregate macroeconomic phenomena is the sum total of microeconomic phenomena. Micro and macro economics branches of economics use very different theories, models, and research methods, which sometimes appear to conflict with each other. Integrating the microeconomics foundations into macroeconomic theory and research is a major area of study in itself for many economists.

Conclusion

In this article, we learnt about the course B.Com, syllabus, eligibility criteria and job after commerce course. Commerce have Accounting and Economics plays a crucial role and have importance in their respective fields. We seen types of accounting like financial, managerial and cost accounting and types of economics like macro, micro economics.

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