Commerce as a stream of education can be defined as a study of trade and business activities such as the exchange of goods and services from producer to final consumer.Commerce, an evergreen stream offers huge opportunities to students to make up their careers after Class XII. With the rapid opening of our markets to foreign companies,rising GDP and a number of reforms carried by the Indian govern-ment, the students of Commerce can expect huge job opportunities in this area. Growing service sector
offers enormous job opportunities in accounting, banking, insur-ance, advertising, mass communic-ation, Public Relations, stock markets, tourism, retailing, business law, international business, marketing research, taxation, teaching, etc.
The increasing number of career choices creates a situation of dissonance in the minds of the students and therefore clarity about what they should do after Class XII is very much required. Students who have opted for Commerce stream during Class XII are now familiar with subjects such as, Accountancy, Business Studies, Economics and Mathematics.
Admission in Delhi University
Delhi University offers admission based on merit in B. Com. Hons. and B.Com. courses for Commerce students. Amongst them B.Com. Hons. is one of the most popular course which enables and equips the students to acquire conceptual knowledge about the various business concepts and practices and enables them to apply various tools to face up the challenges as business managers. It offers lucrative career opportunities in the field of management, banking, insurance, marketing, accounting, advertising, finance, taxation. The curriculum has been designed to prepare students for the corporate sector and many papers such as computers, Tally, E-Filing, Consumer Affairs and Customer care, Advertising, E Marketing, E-Commerce have application part in them. To get admission in a regular college in Delhi University, students can opt for B.Com. (Hons) or B.Com. (Prog). For studying B.Com. while calculating aggregate marks Maths is not compulsory. Thus, those aspirants who did not opt for Maths during Class XII can take up B.Com. course as it is required that the applicant should have studied and passed Mathematics/ Business Mathematics as the qualifying examination for admission to B. Com. (Hons.). If a student is from Science or humanities and wants to pursue B.Com. Hons. or B.Com. a deduction in percentage is done. For this the student can refer to the Bulletin as released by the Delhi University and available on its website www.du.ac.in.
Procedure for calculation of Best Four subject's percentage for B. Com. (Honours)/B.Com. in DU
In this one Language ie English/ Hindi + three best subjects which include Accountancy, Business Studies, Economics and Mathematics are considered. In case student has different combination of subjects a deduction of marks from aggregate percentage is done. For example, if an applicant has scored: Accountancy (90), Business Studies (92), English Core (88) and Economics (94). Total marks are 90 + 92 + 88 + 94 = 364, Percentage is 91%. Since the student has not studied maths she/he will not be eligible for B.Com. (Hons.) course. But the student can study B.Com.
If an applicant has scored: Physics (96), Chemistry (92), English Core (90) and Mathematics (94). Total marks are 96 + 92 + 90 + 94 = 372, Percentage is 93%.
The effective percentage for both B.Com. (Hons.) & B.Com. is 93 - 2 x 1% = 91%.
Popular colleges: Shri Ram College of Commerce, Univer-sity of Delhi (New Delhi), Lady Shri Ram College University of Delhi (New Delhi), Kamala Nehru College University of Delhi (New Delhi), Shaheed Bhagat Singh College of Commerce, Guru Gobind Singh College of Commerce, Jesus and Mary College.In Delhi University B.Com Hons. is offered by 55 colleges out of which 15 are women colleges and B.Com. Program is offered by 43 colleges out of which 13 are women colleges.
Huge career opportunities are availiable after pursuing graduation in B.Com. Hons. and B.Com. in the field of Accounting, Marketing, Law, taxation Management, Banking, Finance, etc. In DU students have the edge of being taught by the best faculty who are mostly Ph.D's, smart class-rooms having projectors, compulsory attendance, linkage to industry through internships, Seminars and Workshops and innovative methods of learning. Commerce students have been placed in the past in many big corporate companies such as Google, Ernst and Young, KPMG, Standard Chartered Bank, Lime Tray, E-Marketing Firms, and more with a starting pay package of Rs 3 lakh or more.
Some other options available to students from Commerce Stream are:
Bachelor of Arts (Economics): This degree is designed to meet the growing needs for an analytical and quantitative approach to problem solving in the changing corporate world by the application of the latest techniques evolved in the fields of Economics and Business. Students specialize in areas of micro and macro economics, Business Policy and Strategy, Industrial Studies, Environmental and Resource Economics, Foreign Trade, Macro Economic/Policy, International Finance and Marketing, Applied Econometrics, Energy Economics, Labour Economics and Economics of Climate Change. Since 1995 Delhi University is offering a degree in BA (Hons) Economics in various Delhi University colleges.
Popular Colleges: St Stephen's College University of Delhi (New Delhi),Shri Ram College of Commerce, University of Delhi (New Delhi).
Bachelor of Arts (ASPSM): Commerce students who did not study maths but have a strong aptitude in marketing, advertising and sales management can pursue a three year degree course in BA (Advertising, Sales Promotion and Sales Management (ASPSM)). Some of the colleges which offer this course are Kamala Nehru College, University of Delhi (New Delhi), Jesus and Mary College, University of Delhi (New Delhi), Delhi College of Arts and Commerce University of Delhi (New Delhi). Further MICA Institute from Mudra at Ahmedabad offers PG Diploma courses in Advertising, Sales and Marketing.
Bachelor of Business Administration (BBA): Bachelor of Business Administration is a professional degree, focusing on formulating administrative skills in the students essential for hitting success in the business industry. BBA programmes are mainly offered under university affiliations. The top universities in India which offer BBA programmes include Univer-sity of Delhi, Guru Gobind Singh Indraprastha University, Mumbai University, Symbiosis International University, NMIMS University to name a few. These universities not only offer BBA/ BBM/BMS programmes but also conduct their own admission test to select students.
Popular colleges: Indian Institute of Management (IIM), Indore, Shaheed Sukhdev College of Business Studies, Delhi, Christ University (Bangalore), Department of Business Administration - SRM University (Chennai), Amity International Business School (Noida), Institute of Management Studies (Noida).
Entrance Based Management Courses: Students specialize in Management Courses and generally Universities conduct entrance exams to admit meritorious students. University of Delhi conducts a common entrance programme of Bachelor of Management Studies (BMS) where students seek admission in 3 separate programmes. These are Bachelor of Business Studies (BBS), B.A (Hons.) in Business Economics (BBE) and Bachelor of Financial & Investment Analysis (BFIA).
Professional Courses in Commerce
(a)Chartered Account-ants: The CA course combines theoretical study with practical training. The Chartered Accountancy course is considered to be one of the most rigorous professional courses in India with only 8.0-16.0% of the pass percentage in every attempt. The institute has 8,74,694 students, studying various levels of the Chartered Accountancy Course. The Chartered Accountancy examinations are divided into three levels.
Level 1: CPT covers four basic subjects viz. Fundamentals of Accounting, Mercantile Laws, Economics and Quantitative Aptitude. A student can register for CPT after completing Grade 10 and take the exam after completing High School (Grade 12). A candidate is considered to have cleared CPT if he/she obtains in a sitting 30% in each of the 4 sections and a 50.00% aggregate in the entire examination.
Level 2: IPCC or Integrated Professional Competence Course is the second level of Chartered Accountancy examinations. A person can take the IPCC Examination after passing CPT and nine months of study. IPCC has two groups of seven subjects. Group-I consists of four subjects and Group - II of three subjects.
Level 3: CA Final Examination is the last and final level of Chartered Accountancy Examinations. It is considered as one of the toughest exam in the world. Any person who has passed both the groups of IPCC, during the last six months of articleship can take the Final Examination. This exam consists of two groups of four subjects each.
Students can pursue CA together with graduation or after completing graduation in any subject.
(b) ICAI (Institute of Costs Accountants of India): The Institute of Cost Accountants of India (ICAI) which was formerly known as Institute of Cost and Works Accountants of India (ICWAI), is the only professional body specialized in the field of Cost and Management Accountancy in India aims at imparting coaching and training in the subject of Cost & Management Accountancy. Institute of Costs Accountants monitors all costs involved in making a product or providing a service, from raw materials and labour to administrative costs and overheads. In other words, the cost accountant collects, collates, and interprets data relating to the organization's business activities and converts them into money terms, thereby guiding managerial decisions and enabling the organization to maximize profits.
The Institute of Cost Accountants of India (ICWAI), ICWAI Bhawan, 3, Institutional Area, Lodhi Road, New Delhi- 110003 provides training in this area to students who have completed plus two. The students have to clear three levels, ie, Foundation, Intermediate and Final. Graduates are exempt from doing the foundation course. ICWAI has several branches all over the country.
c) Company Secretary: The Institute of Company Secretaries of India (ICSI) is the organisation set up under an Act of Parliament, i.e., Company Secretaries Act, 1980 for the regulation and development of the profession of company secretary in India. As per the proviso to Section 383 A of the Companies Act, 1956, all the companies having a paid up capital of Rs. 500 M are mandatorily required to appoint a full-time Company Secretary. Those companies having a paid capital greater than Rs. 10 M and less than Rs. 500 M are required to procure Compliance Certificate from a Practicing Company Secretary which has to be annexed to the Directors' Report along with the Annual Accounts. Thus there are two areas in the career: whole time employment and whole time practice. A Company Secretary, being A principle Officer/Key Managerial Personnel in the Company is an Expert of various Laws. He is chief advisor for corporate Law to the Board of directors. He/She conducts Secretarial Audit in the company, that covers his Independent opinion on various Laws like Labour laws, Company Law, Environmental Laws, Securities Law and other concerned laws to the company. The ICSI conducts the Company Secretary ship examination to bring in high level professionals specialized in corporate laws, management and governance.
The Company Secretary Course is conducted in three stages as under:
*Foundation Programme: Candidates who have passed Senior Secondary Examination (10+2) are eligible for admission to Foundation Programme.
*Executive Programme: Graduates in any stream excluding Fine Arts or candidates who have passed the Foundation Examination are eligible to join Executive Programme.
*Professional Programme: A registered student is admitted to the Professional Programme on passing the Executive Examination.
Thus, the sky is the limit and plenty career options are available to commerce students, what is required is excellence and remaining focused towards one's goal.