Commerce Education in India – Opportunities to Look For

Commerce is one of the basic courses in India, as it is introduced as a subject at the intermediate level. Commerce courses help to develop skills, knowledge, and the right attitude for trading economic value between producers and consumers.

With the rising of various industries, specializations in courses such as accountancy, business administration, finance management etc. have been on high demand. This has brought relevance to commerce education, and it is perceived as a great asset in management education in India.

DEFINITION OF COMMERCE EDUCATION

According to Chesseman, commerce education is a form of instruction that directly or indirectly prepares a businessman for his calling. It helps you understand topics like fluctuations in the market, industrial policies, fiscal policies, and the basics of economics.

Benefits of Commerce Education

It has helped students acquire skills to attack problems in various areas of commerce, trade, and industries. Commerce education as a course helps in responding to the demand of business houses.

Survival in the implementation of technology has placed a tough demand on organizations as to how to survive in the competitive business world. This has led to a rise in commerce education.

COMMERCE SUBJECTS STUDIED IN COMMERCE EDUCATION

Choosing commerce as a discipline, there are various commerce subjects. They are:

Business Economics

Business law

Cost Accounting

Financial Accounting

Auditing

Income tax

Marketing, etc.

OPPORTUNITIES IN COMMERCE EDUCATION

Actuarial Science

This prospect involves the analysis of risk e.g business finance, healthcare, and insurance. Actuaries involve the use of mathematical equations, financial theories, and statistics to discover risk and unpredictable future events that can affect business. When this is done other forms of various business strategies can be introduced. This career is good for a student who loves statistics, calculation, and data analysis.

Chartered Accountant

The scope and demand for this job in India has never been better than now. It is one of the ideal career options for commerce students that offers a great career path, salary and respect in the society.

To pursue this, a student has to pass the entrance examination also known as the foundation course examination. Followed by IPCC, internship training, and final year examination. Successful candidates can choose to work in a government or private organization or after a few years of experience, set up a private practice.

Finance

This involves making financial planning, making a decision, managing assets and liabilities, raising funds or capital for businesses. To be successful in this career, you are expected to have a good knowledge of accounting and economics concepts, analytical thinking, and numbers and data.

Stock Brokers

Stockbrokers are those that help in buying and selling stocks in the business market. They also help to detect fluctuation and give advice to their clients on stock, mutual funds, and other financial instruments.

With the rapid and steady growth of the stock market in India, there has been high demand for qualified stockbrokers professionals. Places which you can work are banks, an insurance company, pension funds, investment banks etc.

Managements

A good business manager helps in the functioning of a company. They must be able to plan, forecast, coordinates, and organized processes. Business management includes human resources, operations, marketing, international business etc.

Company Secretary

This professional course has been introduced by the Institute of Company Secretary of India(ICSI). They manage the administration of a company e.g legal and statutory compliance. They make sure decisions made by the board of directors are put in place. plus, they give suggestions on business issues, put together a financial report, help in developing corporate strategy, and give advice on company law.

Cost and Management Accounting

This also is a professional certification course that has been introduced by the Institute of Course Accountant of India(ICAI). Their responsibility is cost management, evaluation performance, management of assets, and budgeting. They also help to devise financial plans for a company and help in strategizing. Financial reports are also prepared by this section.

Entrepreneurship

To set up your own business, you need to idealize, build and strategize ways to start up the company. This requires you to be disciplined, determined, and be persistent as it is more challenging than other career paths.

Bottom line

With the different opportunities listed above, commerce education is assured of a great stand in the society. This has also made the Indian government open up more markets for  commerce education. Therefore, leading to an increase in demand for professionals in industries.