Commerce has been one of the most divisive academic domains; this is because, while some students love the subjects there are many who complain of its limited scope and career opportunities in it. Despite such comments, commerce remains one of the most sought after academic stream in the country with more and more number of students opting for it every year. With academic and career opportunities in the field of finance, accounting, business management and economic development fields; commerce offers a host of lucrative opportunities to its students. The main reason behind terming commerce as a stream with limited scope is the ignorance among the students regarding opportunities available in this domain. If you are also a commerce student appearing for 12th board exams who is confused over which career path; worry not! We have compiled a comprehensive guide of all the career options and opportunities available to Class 12 Commerce students.
Study of Commerce
The study of Commerce as an academic stream at Class 12 level entails, developing the basic understanding of business models and practices, basics of trade, economics, market policies, finance, accounting and other associated subjects. Students who are competing Class 12th Commerce are well versed in all these topics, which opens several doors for them in terms of academic pursuits as well as job prospects. Furthermore, commerce is part of every business unit in one way or the other, which translates into a diverse range of job opportunities for them in fields. 12th Class Commerce students can opt for mainstream academic programmes like B.Com or BA in Economics or opt for a professional career oriented programme like CA, CS, ICWA. In addition to this students can also look for offbeat career choices in the field of hotel management, corporate and financial law, retail management, economics and others.
Mainstream Academic Programmes
The majority of Class 12th Commerce students who are looking to pursue their higher education are known to opt for mainstream undergraduate level academic programmes. These programmes take up the mental from the concepts that were taught at the school level and offer deeper and more analytical understanding of these concepts. The most popular commerce degree programmes available to students after Class 12th are:
• Bachelor of Business Administration (BBA): A precursor to the MBA programme, this course aims at equipping students with foundational knowledge of business administration. The course is ideal for students seeking to build a career as an administration in the business domain.
• Bachelor of Commerce (BCom): This is a hardcore commerce course that focuses on key academic aspects of finance, economic, accountancy and mathematics. The course is ideal for students keen to pursue higher studies in the field of commerce.
• Bachelor of Business Management (BBM): Roughly related to the BBA programme, the BBM programme readies students to be able business managers. Considering their knowledge of finance and accountancy, commerce students opting for this programme stand at an advantage.
• Bachelor of Foreign Trade Management: Trade is an integral part of the commerce industry and this bachelor degree focuses on foreign trade. The programme is aimed at developing business managers who can handle foreign trade and associated aspects easily.
• Bachelor of Management Studies: Another commerce programme related to management domain. This programme is aimed at offering conceptual knowledge about management principles and teaches students to use them in business operations.
• Bachelor in Arts (BA): This is a general degree level programme through which students can opt for the study of different subjects like Economics and Finance.
In addition to this, there are other specialized programmes as well such as B.Com in Banking and Insurance or B.Com in Taxation which are offered by certain institutes.
Professional Courses are the mainstay of commerce industry. Students generally have the option to opt for Chartered Accountancy, Company Secretary-ship or Cost & Work Accountant in different companies by completing respective professional courses and clearing necessary examinations.
• Chartered Accountant: A Chartered Accountant is a person who specializes in auditing, taxation and accounting. They are generally hired by companies to manage their corporate accounts and money matters. According to the rules laid out by Company Act; it is compulsory for Companies to hire professional Chartered Accountants for audit and accounting activities. To become a CA, students have to complete the Final examination of the Chartered Accountancy course and become an associate of the Institute of Chartered Accountants of India (ICAI).
• Company Secretary: Company Secretaryship is another lucrative career choice that is available to Class 12 Commerce Students. As per the Company Secretaries Act, 1980, all major companies having paid up capital is of Rs.50 lakhs are required to hire company secretary for their organization. To become a company secretary, students have to clear the foundation course, executive program and professional course of Company Secretary-ship offered by The Institute of Company Secretaries of India (ICSI). After completing the CS programme, students also have to undergo practical training to gain membership as a Company Secretary.
• Cost & Work Accountant: Cost and Work Accountants are professionals who structure the financial and revenue-related policies of a business. They also predict the performance of a company, carry out risk assessment for investment and new projects and, in general, keep a check on financial health and performance of the company. Institute of Cost and works Accountants of India (ICWAI) conducts academic programmes for Cost & Work Accountants.
Considering that commerce, accountancy and finance are associated with every business activity that organizations undertake, commerce students have the chance of joining several off-beat programmes and career choices like corporate law, business law, financial irregularities, hotel management and several others that students can opt for.