How to make commerce as a career option?
commerce as a career
The gone are the days when people used choose science as an best carrier option subject.Now a days with increase of unemployment in Science and other graduates the mob of students opts commerce as a best option for carrier.Also, the commerce stream is no longer pursued by only those who are looking at managing family businesses! With careers in commerce undergoing a sea change both in terms of options and scope, commerce has become a sought after and popular option among students.
If a student wishes to pursue commerce in +2, he will have to study subjects like Economics, Accountancy, Business Mathematics and Business Studies. There are several career options that open up for a student after commerce stream. Chartered Accountancy, Business Management, Cost & Works Accountancy, Company Secretary, Actuarial Science, Chartered Financial Analyst are some of the fields that are directly related to the subjects in the commerce stream.
The charted accountant is the best option as a carrier in the field of commerce.To become an charted accountant he/she have to clear their Common Proficiency Test i.e CPT.We will discuss further about its role.
The top 5 Commerce courses at the graduate level are as follows:
Chartered Accountant
To become Chartered Accountant is every one's choice who opted for commerce subject,but to make their dream comes true they have to clear very tough competition Common Proficiency Test i.e CPT.
eligible to enroll for Group I or Group II or both Group I & II of Integrated Professional Competence Course (IPCC) by ICAI.
After enrolling for IPCC, students are then required to successfully complete a 9 month study course from the date of IPCC registration.
After completing a one week orientation course of 35 hours & a 100 hour Information Technology Training (ITT) and clearing IPCC, students are then required to register and practice as an articled assistant for 3 years.
During their training, students also need to register and simultaneously prepare for CA Final Course.
During their last 12 months of their training, students have to undergo a General Management and Communication Skills (GMCS) (15 days) course.
During the last 6 months of their training, students become eligible to appear for the final examination.
After successfully completing GMCS and clearing CA Final exams, students can then enroll as a member of ICAI and be designated as Chartered Accountant.
With the rapid growth in economy, careers in finance and accounts have gained tremendous popularity. Chartered Accountancy - the core of all businesses, is a dynamic, challenging and rewarding profession and continues to attract a large number of aspirants year after year.As a C.A your work will involve compiling, analyzing, verifying and reporting on the financal affairs of businesses and individuals. You will be responsible for providing a wide range of advice about financial control and planning to companies, public bodies and private citizens.
Bachelor Of Commerce (BCom)
After completing or while pursuing B.com their are many carrier opportunities who believe in hard working.Now we will discuss the carrier options after bachelor degree in commerce.
M. Com:
The most ideal option for a student who completes B. Com is post graduation in commerce. There are a sea of job opportunities after completion of M. Com. Some of the options which one can think of pursuing after completion of M. Com are as below:
Civil Services examination:
Appearing for civil services examination become lot easier which doing your M. Com as you can work with a lot of dedication. You can start preparing for preliminary and the mains examination. The period of two years of M.Com could be effectively utilized towards the preparation of these examinations.
Job in banking sector:
IBPS (Institute of Banking Personnel Selection) conducts regular examinations known as CWE the score of which is used by various banks for selection of persons for various posts. Banks now-a-days don't conduct separate exams for selection of candidates for their vacancies. Hence the score of the CWE is becoming increasingly relevant these days. You can utilize the period of your post graduation for preparation of CWE.
CA:
Chartered Accountancy is one of the most coveted career option for any commerce student. Needless to say about the vast and regarding career options available for a Chartered Accountant. One needs to clear the Common Proficiency Test (CPT) to become eligible for CA. You can prepare and clear the CPT while studying B. Com. It takes at least three years to become a CA. One needs to have a clear inclination towards accounts to become a CA.
CS:
Company Secretaryship is one of the lucrative career option after B.Com. CS is offered by the Institute of Company Secretaries of India (ICSI) and the duration is three years. There are three stages to become a qualified company secretary. The stages comprises of foundation course, intermediate stage and training. You are already eligible for the initial two stages as you will complete your graduation soon.
Company secretary plays a very special role in a private as well as public limited company. He is responsible for answering queries of shareholders, providing advice to the board, handling legal matters and various other company affairs.
Certified Management Accountant (CMA) :
Institute of Cost Accountants of India awards the degree of CMA. A CMA is involved in a wide arena of company affairs such as pricing and costing of products and services and preparation of various statements as per accounting standards. They perform a very important role in planning, controlling and monitoring of a company's product cost and determining its price. Cost of product determines the price of a product hence it is very important for anyone to ascertain cost at various stages and minimize it through optimum utilization of resources. Thus a CMA can help a company to increase its operational efficiency and become competitive.
The course of a CMA comprises of three stages viz. Foundation Course, Intermediate Course and Final stage. The entrance examination is held twice in a year. First, in June and later in December. The educational qualification required is graduation in any discipline. One can start with foundation course and can join the course after 10+2 examination.
MBA (Finance/Investments):
The most favored option by many of the commerce graduates is of post graduation in Management. I would however like to emphasize that you should go for MBA in Finance. Though named as specialization in Finance, the course mostly specializes on managing financial investments.
After completion of MBA or PGDBM you can easily get a job in financial services sector. As the space of financial services has become increasingly crowded due to presence of candidates with similar kind of skills, you need to differentiation yourself from others. Hence I would like to suggest you to go for any specialized certification courses such as CIMA, CPA/ CFA etc.
Bachelor Of Business Studies (BBS)
The Bachelor of Business Studies (BBS) programme will provide you with a broad business education. You will study the core business principles of accounting, risk management, human resource management, economics and marketing - specialising in one area as your “major” in the second semester of Year 2. Theory will be brought to life through work on practical business projects in addition to an eight month work placement in industry.
(1) Accounting and Finance;
The Accounting and Finance major option consists of four main areas: financial accounting and auditing, management accounting, finance and taxation. You will learn about the theory and practice of current accounting standards and their implications for financial reporting, along with practical skills in advanced accounts preparation, financial statement analysis, decision making, investment analysis, costing, portfolio selection, personal and corporate taxation.
Graduates of this major option pursue accountancy and/or taxation careers in professional practice or industry.
(2) Economics and Finance;
The modules contained in the Economics and Finance major option include Public Finance, Economics of Integration and Industrial Economics. Many of the managerial decisions taken in modern business organisations and financial institutions require a good understanding of the national and global economic environment. You can expect to pursue a career in areas such as the financial sector, Media, Government Departments and Agencies, Teaching, Transportation and Telecommunications.
(3) Marketing;
This major option deals with important marketing subjects such as branding, marketing communications, consumer behaviour, consumer culture, advertising, internet marketing and marketing strategy. Graduates have gone on to pursue successful careers as marketing executives, brand managers, sales managers, and marketing consultants in a variety of different business industries.
(4) Human Resource Management
This major option will offer you the prospect of developing the range of human resource management skills and competencies needed in today’s global marketplace. Subject areas covered include organisational behaviour, employment relations, human resource development and human resource management. Graduates will be ideally placed to pursue careers in HR and industrial relations, leadership, consulting, learning and development, training, and academic research.
(5)
Risk Management and Insurance
This popular major option offers modules that develops skills for rewarding careers in the global insurance markets. The increased need for protection against new risks, increasing levels of regulation and demand for effective risk management have instigated a rapid evolution in insurance.
Material covered on the course includes Risk Control and Underwriting, and an understanding of the managerial process inherent in Insurance Organisations and Markets. Other subject areas include Claims Management (Insurance Law and Claims) and Risk Analysis. Current challenges facing Risk Managers are addressed in modules such as Reinsurance and Alternative Risk Transfer, and Governance and Risk.
The possible carrier options after completing BBS
Tax Consultant
Accountant
Financial Analyst
Stockbroker
Marketing Brand Manager
PR Manager
Management Consultant
Pensions and Insurance Administrator
Industrial Relations Officer
Risk Analyst
HR Manager
Bachelor Of Management Studies (BMS)
With the growing demand for professionally qualified management executives, the course has been especially designed to create middle cadre management personnel.
It is a three-year degree course, with six semesters, managed by a full-time and visiting faculty drawn from the Industrial and Service sectors.· The College is committed to providing in-depth training using the latest equipment in computers, practical experience, industrial visits and summer placements, wherever possible.
n 2013, Delhi University (India) added a new course named BMS (Bachelor With Honors In Management Studies). Students for the first batch of BMS were selected through an entrance test and personal interview with class 12th marks also carrying 30% weightage, for a total 840 seats. BMS by DU (DELHI UNIVERSITY)is a four year undergraduate programme. Students can choose a field to specialize in at the starting of 2nd year. Specialization can be done in Marketing, Finance, HRM, Management of Services, Management of global business & Tourism Management.
ELIGIBILITY:
A candidate, for being eligible for admission to the B.M.S. degree course shall have passed the XII std. Examination conducted by the State Board of Higher Secondary Education or any examination recognized as equivalent thereto at one and the same sitting and should have secured not less than 60% marks in case of students belonging to the General Category, not less than 55% in the case of students belonging to the Minority category and not less than 50% marks in the case of students belonging to Reserved Category.
After successful completion of the program, one can pursue any one of the different courses like management-oriented courses, including MBA, non-management oriented courses like Accountancy, Mass Communication, etc. An individual, after the successful completion of Bachelor of Management Studies can opt for a career in Human Resource Management, Sales and Marketing, Jobs in PSU banks, Finance, Research and Development, etc.
Bachelor Of Business Administration (BBA)
After completing 12th BBA is the best option as a carrier,it is a three year bachelor course,by completing BBA you can work in banking sector,in business sector,marketing manager, HRA manager etc.You can also go for MBA to get specialization in your studies.
Career scope after BBA
Candidate will need to join the firms at the executive level. These candidates are preferred for positions like HR and also Finance. With experience they will be able to grow to higher heights. It is important that the candidates pursue a career in an area where they believe their interest lies.
Jobs in Government Sector after BBA
In the Government sector the candidates must check the notifications for job opportunities regularly. They must visit portals for the same too. They have the option to apply for the jobs as per their interest. Some of the jobs preferred include the banking jobs. The nationalized banks are in need to candidates of this profile as they can use them for multitasking. Also another option available is that Civil Service stream. Also they have the option to appear for state level exams like PSC or the railways test etc.
Bachelor Of Business Management (BBM)
After completing the 12th std. BBM is an under graduate program of 3 to 5 years .There are plenty of carrier option after completing this course.The degree is similar to a Bachelor in Business Administration, but with a stronger emphasis on leadership and management skills.
The Bachelor of Business Management program allows students to specialize in a specific academic area including:
Accounting
Business Law
Economics
Ethics
Entrepreneurship
Finance
Human Resource Management
Management information systems
Marketing
Operations management
Organizational Behavior
Strategic Management
Supply chain management
International business
Posts
