Commerce | Subjects and specializations you need to know!

The field of commerce is vast and it involves an in-depth study of the business world. The field offers numerous specializations you can choose from. The commerce subject includes studies in areas such as Business Administration, Applied Economics, E-Commerce, Financial Accounting, Banking, and Insurance, Accounting, and Finance, Banking, and Finance, Accounting and Taxation, Actuarial Science, Human Resources, Entrepreneurship, Accounting, Auditing, etc. can be taken up as specializations. These courses are available full-time as well as part-time.

Let us discuss what entails the commerce subject and its career prospects.

Bachelor of Commerce (B. Com) 

B.com is a three-year undergraduate degree program in commerce. It is a combination of various components of the commerce subject, business acumen, managerial skills, business analytics as well as accounting and finance. The main subjects that you will learn in this course are statistics, economics, finance, cost accounting, English, human resources, law, marketing, accountancy, computer science, management, etc. 

You will be taught practical methods in addition to textual information. The course also includes case studies and extensive projects, as well as assignments that will help you develop your problem-solving skills. Moreover, a B.Com course also covers other important skills that will enable you to handle the different problems that you may face in the business domain. 

Masters of Commerce (M.Com) 

M. Com is a two-year post-graduate program that is divided into four semesters each year having 2 semesters. You have the option of selecting a specialization depending on your area of interest and career prospects.

A few subjects of specialization are mentioned below: 

• Accounting & Commerce
• Economics
• Accountancy
• Taxation
• Banking & Finance
• Statistical Analysis 
• Financial Management and Policy 
• Accounting Theory and Practices 
• Managerial accounting 

If you are someone who is looking to pursue a course after B.Com, then this course may be the best option for you. It will provide you with an exceptional in-depth operational knowledge of the economy of the country, its revenue, trade as well as taxes. Although these subjects are already among the bachelor’s commerce subjects, they are explained in depth in an M. Com course.

Career prospects in the commerce subject

Money in society has always been the core component that defines everything that is surrounded in your life, it becomes too important to have the right knowledge to gain and understand finances, money-making, and managing work in the world. A true understanding of how money works does not come overnight, it takes time. The commerce subject, however, help you gain knowledge about business, accounts, finance, and economics in a detailed manner and also help you apply it to the real world.

The various job roles that are available to candidates who choose the commerce field are –

1. Chartered accountant 

The profession of chartered accountancy is well-known across the world. Many students enroll in such courses each year because it benefits them greatly in the field of finance. But for some, it is their first step into the financial domain. You should be good with numbers and have a basic understanding of accounting, as this will help you achieve great results in the finance field. 

2. Company secretary 

A company secretary holds a senior position in both business firms, public and private sectors both. Their responsibilities include registering and communicating with the shareholders and ensuring that the dividends are paid on time. They manage and maintain records of the directors and shareholders as well. 

3. Financial analyst 

Financial analysts are in high demand in the finance industry. They are professionals who participate in the research and macroeconomics and microeconomics of the country. They gather financial information along with the company fundamentals to graft dynamic growth plans. 

4. Financial planner 

A financial planner position is the best for you if you have an interest in understanding the savings and managing finances part of the field. Financial planners provide financial advice to their clients and companies and help them meet and manage their finances in the short and the long term. If you are good at managing and understanding money, this could be a great job profile for you.

5. Investment analyst 

Investment analysts collect information and conduct research on stocks, bonds, shares, and commodities, which is critical to the nation’s financial health. They focus their efforts on specific niches to become experts in the field and ensure that clients receive accurate information. 

6. Portfolio manager 

Portfolio managers are responsible for making important investment decisions and carrying out financial activities on behalf of individuals or institutions. Because this job involves managing and enhancing the financial activities of an individual on their behalf, this position enables you to keep a sharp eye on the economy and the changes around it. Portfolio managers manage financial assets like stocks, bonds, real estate, and other financial methods of investment on behalf of an individual. 

Key takeaways

• There are various specializations in Commerce, such as Business Administration, Applied Economics, and E-Commerce.
• A Bachelor of Commerce program consists of three years of study in subjects such as statistics, economics, finance, and management.
• The Master of Commerce is a two-year post-graduate degree program with specializations in accounting and commerce, economics, taxation, and more.
• There are career opportunities in the area of commerce, including chartered accountants, company secretaries, financial analysts, financial planners, investment analysts, and portfolio managers.

Hopefully, this blog helped you learn more about the commerce subjects and the career opportunities that entail with it, if you have any questions or suggestions, please feel free to use the comment section below, we would be happy to help with your queries.

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Like this blog? read more: Top 5 high-paying commerce job list and salary

FAQs 

Q1. What are the 6 subjects that we can select in commerce? 

Answer– These are the 6 subjects you can select while taking up commerce: 

• Physical Education (Optional) 
• Business Studies (Mandatory) 
• Economics (Mandatory) 
• English (Mandatory) 
• Accountancy (Mandatory) 
• Informatics Practices/ Mathematics (Mandatory) 

Q2. What is the required minimum percentage to enroll in commerce courses?

Answer- To pursue commerce as a major, you do not need to meet any minimum requirements. All you have to do is obtain passing marks in all subjects.

Q3. Is mathematics compulsory in commerce? 

Answer-In commerce, mathematics is not a required subject; instead, you can choose from a variety of subjects in this program.