Importance of Commerce Stream and Best Career Options

Commerce Stream means a stream of education that deals with the study of business, accounts, and trade. Students studying in Commerce stream have a thoughtful outlook on the outside world. Most students opt for Commerce because they want to take the next step in business and follow the strategies to become successful.

Commerce as a medium of instruction can be interpreted as a study of business and marketing activities such as the exchange of commodities and services from the manufacturer to the final customer. The principal subjects that are taught in the Commerce stream for CBSE Class 11 and 12 comprise – Accountancy, Business Studies, and Economics. Students can choose this field if they have a real interest in these subjects and have an association with the economy, business, and numbers.

Due to the popularity of commerce among most students, many countries have brought up excellent career-related opportunities for the students in this stream, including India. The main subjects under the commerce stream include:

1. Economics,

2. Accountancy, and

3. Business Studies.

Economics

Economics is one of the paramount and most sought-after subjects of Social Science. The main objective of studying Economics is to have an overall account of the production, distribution as well as consumption of goods and services. Microeconomics studies individual choices and consumer behavior on a micro level while Macroeconomics explores how the economy deals with factors like inflation, GDP, equal distribution of resources as well as international economies.

Accountancy

In the simplest terms, understanding Accountancy enables one to manage the expenses and income of a business. Providing feedback to the management regarding the financial transaction and results of an organization. The main tasks involved in the process of Accounting include issuing invoices, recording cash, and paying employees besides keeping track of the financial status of the company.

Business Studies

Business Studies is considered one of the interesting and engaging commerce subjects for commerce students. Whether you have opted for the commerce stream with maths or without mathematics, it remains to be an essential part of the curriculum and CBSE Subjects for Class 11. As the study of business enterprises and their functioning is an integral part of the Commerce stream, the coursework of this subject aims to provide students with a basic understanding of the varied principles and practices prevalent in the business and industry along with detailing their relationships with the society.

Degree Courses in Commerce

• B. Com and B. Com (Hons.)
• M.Com
• MBA
• CA
• CMA
• CS

Subjects included in Commerce stream: -

1. Business Economics
2. Financial Accounting
3. Cost Accounting
4. Auditing
5. Business Finance
6. Business Law
7. Business Communication

How to make a Career in Commerce?

• B.Sc. (Economics)/B.Com. are the main path to make Careers in commerce.
• Aspirants can also opt for other courses after the 12th to make a top career in commerce.
• After completing graduation, they will have to be confident and make an attractive resume with correct details.
• In the beginning, they will have to go for an internship to have some practical knowledge. After completing the internship, they can apply for a full-time job in a reputed company to make a career in commerce.
• They can check the openings and apply for the same on popular job platform websites: Naukri.com, Linkedin, Indeed, etc.
• They can also apply through the website of the company by going through the career section or they can send their resume to the HR of the company.

Here are all the diverse career paths that you can explore in the Commerce stream:

1. Chartered Accountancy: A career in Chartered Accountancy or CA opens a tremendous scope of exploring global opportunities in a highly-respected profession. Professionals in this field have specialized skills and veracity. A CA serves in areas like Taxation, Auditing, Financial Accounting and Reporting, and Management Accounting.

2. Commerce: Commerce includes various domains like Finance, Auditing, Taxation, Accounting, etc. With the increasing opportunities in trade and commerce all around the world, this course offers great and lucrative opportunities.

3. Stock Broking Career: Stock Broking involves buying and selling of stocks on the stock market. The professionals in this field manage investments in bonds, stocks, and derivatives for their clients which includes individual buyers, and small and large organizations, and advise them about market functions.

4. Management: Management is defined as the function of planning, organizing, directing, and controlling various resources efficiently and effectively to achieve a company’s goals. Management courses are popular among students aspiring for a career in the Commerce stream. Moreover, there is a range of specializations available in this discipline like Finance, Accounting, Human Resources, International Business, Marketing, Health, etc.

5. Banking: Individuals can start as a Bank Probationary Officer or PO working on the daily functioning of a bank, handling customer complaints, cash flow, loan processing, and approvals, supervising clerical work, issuing ATM cards and checkbooks, etc.

6. Economics: Economics is the study of the production, dissemination, and ensuring optimum use of goods and services. It is known to be a research-oriented career covering various principles, theories, and models of Economics. The professionals in the field of Economics conduct research and analysis to predict market trends and develop theories and models to solve economic issues.

7. Company Secretary: Professional companies hire a Company Secretary (CS) to take care of the efficient administration of the multinational companies ensuring statutory and legal compliance and implementation of the decisions of the board of directors. Moreover, professionals in the company secretary field give advice on conducting business, suggesting ways to create financial reports, developing corporate strategy, dealing with situations involving a conflict of interest, etc.

8. Finance: In this industry, you can explore various roles in financial planning, managing assets and liabilities, monitoring cash flow, running business operations, and raising capital for expansion. Students willing to pursue a course in Finance should have a good grasp of Accounting Concepts, Economics, Mathematics, and Analytical thinking.

9. Accountancy: Professionals in Accountancy are in huge demand all across the world because of a need for financial management in organizations. They possess various skills that are required for highly specialized roles within the local, territorial, and federal government, charities and non-profit organizations, corporate businesses, professional associations, and educational institutions

10. Certified Financial Planning: A financial adviser is involved in making decisions regarding management and money. Their role is to assess the financial position of clients, understand their requirements and goals and advise them on the best possible way to achieve them. A course in Certified Financial Planning provides you with career opportunities in Finance, Insurance, and Investment Companies.

If you are confused about what course or what subject after 10^th & 12^th is best suited for you, let the CoachingSelect experts guide you in identifying the right career path for you.

How to choose the right career among the top 10 Careers in Commerce?

• First of all, aspirants need to identify their own passion if they want to play with numbers or transactions, or they want to communicate with people or they want something else. Then, they will be able to take a life-changing decision by choosing the best careers in commerce.
• They will have to dig the internet to find detailed information about the chosen Careers in commerce to know further job scopes and salary growths.
• Talk to the people who are in that career field to know about their personal experience which will help to choose Top Career in Commerce stream.

If you are confused about what course or what subject after 10^th & 12^th is best suited for you, let the CoachingSelect experts guide you in identifying the right career path for you.