The Commerce is a significant branch of education which primarily deals in thrusting required skill, knowledge and inclination for the splendid handling of Industry, trade, and commerce. As already it is predominantly remarkable because it has a grip on tremendously growing economy and economic need of Indian societies. Beholding the history of almost 130 years since the commencement of commerce education began in 1886 to cater the financial need of country and shows huge elevation after post independent era.
As a significance of increasing global education, world economy and information the commerce is presumed as an important aspect from an education point of view. IT and Smartphone technology are pressurizing educational scenario to decipher according to the convenience of the time. The prominent developing dimension of the commerce & business education in the 21st century is the need for commerce school to use technology and embedded it as an integral part of course contents. The current economy demands the type of skills and knowledge that commerce courses offers today. The picture is changing very fast and we need to maintain pace with the changes, therefore, molding ourselves to the changing environment became an inevitable part of the curriculum.
It wasn’t a long time ago when the commerce education was synonymous with business education which has potential to arm the person with knowledge to affluently handle the country’s economy balancing trade, commerce, and industry. But by virtue of time and diversified needs of society and business houses, new maverick professions emerge to fulfill the economic needs. Let’s have a look at some of those professions which can be acquired with commerce education.
No matter how big or how small your business is one professional we can’t escape from to cater our business needs is Chartered Accountants. Their tasks involve around accounting, taxation, auditing, financial planning etc. There is tremendous demand from manufacturing and financial sector for CAs or they are free to start practice with their own flexible time and space. Moreover, government jobs too are available for qualified CAs. Students who did commerce in 12th show their first preference toward chartered Accountancy. You would astonish to know that Indian Chartered Accountancy holds great demands from Canada, Britain, Australia and some other prominent countries. Because of glittering International appeal and opportunities, it has becoming forefront career option among youngster. The institute of chartered Accountancy of India is a Gov. of India undertaking registered organization which has a monopoly of conducting varied commerce syllabus in India. The website of ICAI contents all required information about the course of chartered accountants.
The second biggest group of students with commerce ties their knot to hunt for company secretary. In current scenario by law every company whose paid capital is more than 1 crore mandatorily has to appoint a designated company secretary to handle the company affairs. The CS are kind of in-house lawyer who looks out day to day legal affairs of the company along with organizing board meeting, following up on the meeting, issuing notices to the directors and as par assignment. Besides this by law if company accommodate more than 20 employees various laws such as Labor Law, Factory Law, and Gratuity Act are applicable and CS has to deal with all these issues. There is a 3 layered syllabus indigenously designed by Institute of company secretaries of India.
Cost and Work Accountant:
This is a nonconventional and new position that has been introduced against the traditional CA and CS. In a bid to withstand the current competitive scenario a business house needs to be very aware of all recurring business cost by all means. They have to spend their capital wisely to gain maximum profit. It has equivalent 3 layered syllabi like CA & CS qualifying which one could become cost and work accountant. He would be working as an executive officer of the company who has to use technical alertness while spending the capital of the company. Surprisingly their position changes according to the department. For example, in Sale and Purchase Department they may give direction on buying decision or prepare quotation where as in marketing division they carry out the responsibility of risk manager and its mitigation.
It won’t be erroneous to say that coming few years belongs to those who possess intense wish for banking jobs. By estimation, almost 1 lacs banking jobs are opening the gates for new entrance. If you are contemplating to move your legs toward banking sector after 12th then apply for clerk level jobs. Though some banks are asking graduation for clerk level too but certainly some options are available to go for. The most lured post in banking is a Probationary officer. To grab it finish your degree in commerce and design the strategic planning to crack PO exam. Keep your mind open and regularly keep yourself updated about vacancies of banks published in employment news and banking websites.
To be a Law graduate could be a dream destination for many after having commerce in higher secondary. Nowadays the lawyers are not only limited up to the precincts of court wall but they are getting recruited in big corporate houses, law firms, litigation and various administrative services as well. After Finishing 12th followed by degree one can go for 3 years LLB or can opt directly for 5 years B.A. LL.B law integrated program to give a new direction to your career. Initially law courses used to contain only B.A. LL.B syllabus but recognizing changing trends new syllabi introduced such as for business management BBA. LL.B course applicable, for science graduate BSc. LL.B and for commerce alumni, B.Com LL.B has been declared. If you intend to have admission in prominent law colleges in India then one has to clear CLAT i.e. Common Law Admission Test.
The uprising Indian economy has given a new identity to corporate sector where on other hand new opportunities start to flourish for business managers. For the division of business like marketing, finance, HR needs professional expertise and only management courses can offer such required skills. This gives lucrative break into Management courses to commerce students. You can invade into the management world after finishing 10+2 commerce followed by 3 years graduation. Though the name of management syllabus can be varied by alteration of universities but the course content is almost common. For example, sometimes it is called BBA i.e. Bachelor of Business Administration or BBM i.e. Bachelor in Business Management. In Delhi University it is called BBS i.e. Bachelor in Business Studies.
In last decade tremendous changes shake up the education sector creating some fluctuation in commerce education too. Initially, industries used to recruit first then train them but now they prefer to go for industry ready skilled professional. Understanding the changing global trends government decided to liberalize the Indian commerce education and designing it to cope up with current challenges. A new commerce education leans toward having huge practical knowledge as per specialization and the prominent institution has opened their gate for the student to equip them with the best commerce knowledge and let them find their right place in industrial, financial and service sector.