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Degree Courses - Commerce

Define Commerce - it is a branch of business and concerned with the exchange of goods and services. It includes all those activities, which are directly or indirectly facilitate that exchange.

In simple terms we can say commerce looks after the distribution aspect of the business. Whatever is produced it must be consumed, to facilitate this consumption there must be a proper distribution channel. Here comes the need for commerce which is concerned with the smooth buying and selling of goods and services.

  • If you are clearly decided about your future career after 10th then u can go for commerce stream as per future plan.
  • But if you are not yet decided about your career then we would request you to go for science stream in 10+2 rather than commerce stream. Because
  • You can shift to commerce stream from science stream after 12th but not vice versa.

Details of Commerce

  • Commerce as a subject has been gaining fast popularity as career opportunities in chartered accountant, cost and works accountancy, insurance, stock market and investment banking sectors or own practice in the accounting related areas
  • While pursuing a course in the field of commerce, one acquires the knowledge of business or trade, nature and fluctuations in market, basics of economics, fiscal policies, industrial policies etc.
  • The concept of commerce consists of a wide range of interdisciplinary branches including Accountancy, Business Administration, E-Commerce, Finance, Economics and Marketing.
  • Since the Indian economy is one of the fastest growing economies among the third world countries, the need for talented professionals, who can contribute towards the growth of the economy, is increasing.
  • E-commerce (electronic commerce or EC) is the buying and selling of goods and services on the Internet, especially the World Wide Web. In practice, this term and a newer term, e-business, are often used interchangably. For online retail selling, the term e-tailing is sometimes used.

E-commerce can be divided into:

    • E-tailing or "virtual storefronts" on Web sites with online catalogs, sometimes gathered into a "virtual mall"
    • The gathering and use of demographic data through Web contacts
    • Electronic Data Interchange (EDI), the business-to-business exchange of data
    • E-mail and fax and their use as media for reaching prospects and established customers (for example, with newsletters)
    • Business-to-business buying and selling
    • The security of business transactions

Different subjects in Commerce stream

A number of subjects can be studied under disciplines of Commerce
Business economics: This would cover concepts like the laws of demand and supply, law of returns, elasticity, 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 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.

Career Options in Commerce Stream

  • Chartered Accountant
  • Commercial lawyer
  • Banking /Finance manager/ Reserve Bank of India (RBI)
  • Stock broker
  • Mortgage broker
  • Maths/accounting/ economics/ business teacher/lecturer
  • Chartered financial analyst
  • Policy analyst
  • Minister of finance/commerce
  • Tax auditor

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Wish you all the best for your bright future!!