Commerce stream has a sea of options and opportunities for those who want to make their career and achieve their goals in life. Students who are studying under this stream have an intellectual look towards the outside world. This career is full of hard challenges and practical facts. It provides numerous career options in the life of students. Most of the students opt for this stream because they all want to put their step forward in Business and follow its strategies. At, present Commerce is becoming very relevant and popular among all the students that are the major reason, due to which various countries are bringing up excellent career-related opportunities to this stream.
On the other hand, the most respectable and useful career option in this stream is Chartered Accountant and MBA position holders. Well, Commerce is like a new way of modern life or a new direction for students to lead their lives in the best possible way. It is the most operative, functional and systematic part of the business.
Students who wish to choose commerce as subject stream they should involve themselves completely and constantly & also have interest in subjects like Economics, Accountancy, Finance, Bookkeeping, Secretarial practice, Business mathematics, Commerce, etc. Commerce as a subject and as a matter of fact has been gaining fast gaining importance as a career choice in India.
It has been observed that Commerce stream is gaining popularity at a rapid speed. It also provides many career opportunities for students like Chartered Accountant, Investment in banking sectors, Insurance field, Stock market level etc. After completing graduation from Commerce stream like B.Com/M.Com, students should positively start thinking of enrolling themselves completely for the various professional courses under important streams such as – CA, CWA, CFA or MBA in Finance etc
As we all know that at present the economy of our country is moving at a very slow pace with no clear-cut moves and directions but in-spite of this fact Career in commerce stream is still considered as a *stream of choice* by students at a large medium. It has been proved as a plus point for career opportunities which are available in our country in finance stream such as – CA, CWA or Company Secretary from the respective institutes like ICAI, ICSI, ICWAI.
Career Options for Students in Commerce Stream
Under this stream, students have to study these subjects like – Economics, Mathematics, Accountancy, Book Keeping, Commerce, International or Foreign Trade etc. There are also a number of competitive examinations which is to be taken after school such as:-
C.S. Foundation course
C.A. Foundation course
ICWA. Foundation course
National Defence Academy
LAW Entrance exam
Commerce also creates markets for the surplus products. It does not only widens up international markets now-days but quite the fact it is also equally useful in accelerating the process of exchange in domestic markets. It is truly conducted that Commerce plays a great and tremendous role in the economic development of a country.
Another important fact which is conducted is that Transport, Advertisement, Finance, Insurance, Warehousing, and Salesmanship are the major commercial tools which are almost essential for the promotion of trade. In this stream, the most important and active thought is that which require never-ending efforts to adopt economic activities for changing existing conditions in the most useful and positive manner.
Commerce stream opens up a variety of options after 10+2 stage. Some examples are as follows - company secretary-ship, chartered accountancy, cost accountancy, business management, computers. Although chartered accountancy, cost accountancy or company secretary-ship course can be taken up after 10 + 2 (after successfully completing the Foundation Courses). It may, therefore, be wise to obtain the basic B.Com degree first with Computers so that you can achieve your goal and make your career. Whatever stream you may select, you should put in your best efforts, which would surely lead to the path of success and make your life more meaningful.
By obtaining high marks in the qualifying exams will put you in a comparatively better position to get into the course of choice after the 10 + 2 level and which will definitely lead your career at a high level. On the other hand, students who are interested in working with numbers, analyzing numeric data and who really aspire to grasp a career in financial-economical and business world are ideally compatible and suitable for commerce stream.
Chartered Accountancy is amongst one of the widely accepted accounting profession in the corporate world that not only offers private practice opportunities to a qualified chartered accountant but it also opens up the opportunity to take up a job with a profile of choice of our own. Such flexibility helps a CA student to plan his/her career options in a more structured way as the profession gives a chance to evaluate his/her interest areas and accordingly take up the job in the related field or else he has also the option to commence his own Practice in the accounting, taxation and other related areas.
To begin with, a student needs to enrol with The Institute of Chartered Accountants of India – ICAI for appearing in the first level i.e. the Common Proficiency Test also known as CPT test after 10 class. Students can, however, appear for the CPT examination only after they appeared for their Senior Secondary Examination - (10+2).
To facilitate students at large the Good and recognized Institutes makes every attempt to make sure that the CA exams – all levels (CPT – PCC – Final) are being conducted in all major cities across India which includes Kolkata, Mumbai, Delhi, Chennai, Bangalore, Pune, Hyderabad, Patna, Indore and at various other cities and towns across India. A detailed listing of all centres for the CA examinations can be obtained directly from the website of ICAI or by contacting the Institute.
Subjects Studied Under Commerce Stream
Business Economics: This would cover concepts like the laws of demand and supply, the 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.
Business Communication: This subject focuses on the art of business correspondence --business letter writing, memo writing, notices etc.