Bachelor of Commerce [B.Com] From St Thomas College of Arts and Science, Chennai

Introduction

Bachelor of Commerce is an undergraduate degree in Commerce and is offered at Colleges all across the country. The duration for a B.Com. course is 3 years and students who have successfully passed their Higher Seconday Examination can get admission in the program. B.Com. is one of the popular undergraduate courses among students. B.Com. in India is available in three modes – B.Com. (pass course), B.Com. (Honors) and B.Com. (Vocational).

History of the Course

History of Commerce as a subject of education started with establishment of educational institutes by the British in Colonial era. Some pioneers in the area of commerce education were Commerce College in Calicut and Presidency College in Calcutta. Commerce Education began at the University level, with the establishment of Sydenham College of Commerce and Economics in Bombay. Since then the number of courses in commerce has multiplied with number of students enrolling in Commerce Programs increasing every year.

What is the purpose of the course?

Commerce is one of the founding pillars of any civilization. The purpose of a B.Com. course is to prepare individuals who are equipped with knowledge and skills related to economics and business management. It helps to provide a variety of managerial skills to an aspiring student.

Job Prospects

A B.Com. course imparts the basic knowledge about trade and commerce practices in society and prepares a student for job opportunities in a wide variety of sectors. A B.Com. graduate can work in both public and private sectors. They are fit to work in a variety of industries and take on varied roles like administartion, hospitality, accounting, marketing, retailing, production planning etc.

Key Stats for B.Com. in India

Program Duration	3 years
Eligibility	10+2 with Maths and English as core subjects
Number of Universities	More than 300
Number of students enrolled in Commerce programs	More than 35 Lakh
Tution Fee for three year program	Ranges from 25000 INR to 500,000 INR
Average Salary	1.7 to 8 Lakh INR

Where to study?

With about 700 degree granting universities and 35,000 affiliated colleges, there is a wide array of choice in terms of college and institute. Some of the Top Institutes for Undergraduate Degree in Commerce are:

• Sri Ram College of Commerce, University of Delhi
• Goenka College of Commerce and Business Administration, Kolkata
• Lady Sri Ram College for Women, University of Delhi
• Loyola College, Chennai
• Christ University, Bangalore
• Madras Christian College, Chennai
• St. Xavier’s College, Mumbai

Correspondence Mode of Study

Students who for some reason can not pursue B.Com. through the regular method can always opt for correspondance mode of study. Some of the top universities in India offer B.Com. (Pass) and B.Com. (Honors) in the correspondence mode also. Some of these universities are:

• School of Open Learning, University of Delhi
• Indira Gandhi National Open university
• Annamalai University
• Allahabad University
• Jamia Millia University
• Karnataka State Open University
• Bangalore University etc.

Course Structure

A Bachelor of Commerce degree is typically of 3 years and could be either in the annual system or semester system of assessment. Many Universities also require students to complete a project in order to earn the degree. A typical B.Com. course has following components:

• Core Subjects
• Electives
• Projects

Learning Objectives

Ideally a student of B.Com. on graduating is expected to have acquired basic knowledge in a variety of fields related to an organization and business management. A B.Com. degree holder is fit to work in any corporate organization or be self-employed. B.Com. graduates possess a variety of skills like accounting, tally, human resource management etc.

B.Com. (Pass), B.Com. (Honors) & B.Com. (Vocational): What is the difference?

Indian Universities offer three kinds of B.Com. courses – B.Com. (Pass), B.Com. (Honors) and B.Com. (Vocational).

Core Subjects in Bachelor of Commerce Program

Some of the subjects which form the core part of a Bachelor of Commerce Program are:

• Accounts
• Economics
• Statistics
• International Business
• Business Mathematics
• Business Communication

Electives

Some of the subjects which are available as electives for B.Com. students are:

• Advanced Accountancy
• Macro Economics
• Advanced Statistics
• Indian Economy
• Governance, Ethics & Social Responsibility of Business

Some of the subjects in B.Com. (Vocational) are:

• Office Management &Secretarial Practices
• Sales Promotion & Sales Management
• Principle & Practice of Insurance

Course Delivery Methods

Generally, colleges follow Lecture Method for imparting lessons. However, the total curriculum also includes Class Presentations – solo and group, Seminars, Workshops and Industry Visits.

Academic Options after Bachelor of Commerce

Not necessarily all students who complete their Bachelor of Commerce degree, settle for a job. Many students aspire for further studies. For such students there are numerous good options available. Below is a list of options available in the academic field after completion of B.Com.

1. M.Com. – Master of Commerce or M.Com. is a postgraduate degree in commerce and is an extension of B.Com. You should go for M.Com. if you have an urge to study commerce subjects and gain a deeper insight of how an organization works. All major universities in the country offer M.Com. program. Generally an entrance is held for admission to this program.
2. MBA – Master of Business Administration or MBA is one of the popular options for Bachelor of Commerce graduates. A B.Com. degree gives an edge to MBA aspirants as some of the subjects taught in B.Com. are repeated in the curriculum during the first year of MBA.
3.  CA – Chartered Accountancy or CA can be pursued with or after the B.Com. course. A background and understanding of commerce helps in the completion of the CA course. Since Accounts is a compulsory paper for B.Com. students, it is helpful when pursuing CA.
4. CS – Company Secretaryship or CS is another popular option and can be pursued along with a b.Com degree. CS prepares an individual for regulatory roles in an organization.
5. ICWAI – ICWAI prepares cost accountants who control and manage cost of an organization. This course can also be pursued vis-à-vis graduation.
6. CFA – Chartered Financial Analyst or CFA is also a professional course and gives a deeper understanding of the financial aspects in an organization. It spans a wide variety of subjects like Economics, Derivatives, Accounting, Portfolio Management, Funds etc.
7. Law – A student can also opt for LLB after B.Com. With Business Law as part of the curriculum it is also a viable option.
8. Actuarial Science – Actuarial Science is an offbeat discipline but also has high-paying potential. Actuarial Science helps an individual to develop mathematical and statistical skills to assess risk in finance, insurance and other industries.
9. CMA – Certified Management Accountant or CMA is a professional course and helps an individual to learn skills pertaining to financial planning, control, analysis, decision support and company ethics.
10. CFP – Certified Financial Planner or CFP is a professional degree for financial planners and is ideal for students who wish to pursue a career in Financial Planning.

An aspiring student should select one of these courses as per their interest and the career they wish to pursue. There is no dearth of option available for B.Com. graduates, you only need to open your wings. 

Aspirants seeking admission to 3 year Full-time B.Com Program should meet the following criteria as specified by the institute.

Academic Requirement:

Candidates who have passed the following examinations should produce eligibility certificate from the respective authorities:

• HSC Examination of Tamil Nadu Government (Private Study).
• Private candidates from the CBSE under the Open School System.
• Higher Secondary or equivalent examination conducted by other State Boards in India.