Commerce is the study of trade and business that encompasses each and every process and activity that takes place in any commercial organisation at any level. If you choose the commerce stream in your junior college, you will get an opportunity to learn the basics of maths, statistics and economics that are prevalent in the current business world
“You will get to learn subjects like Organisation of Commerce, Economics, Co-operations, Book-Keeping and Accountancy, Secretarial Practice, Mathematics, Statistics, Information Technology,” says Suchitra Surve, Director of Growth Centre.
In the first year, students of commerce will get acquainted with basic concepts, and in the second year, they will learn in detail about each of these subjects which in turn will give them a clear idea of where their interests lie and which best suits them.
During the first year at junior college, students will learn concepts like the difference in private, public and global enterprises and different co-operative movements in the country. They will get acquainted with the functioning of internal trade and the economic environment in India. Students will also be acquainted with various economic reforms implemented in the country and the challenges before the Indian economy.
Commerce students will be taught about book-keeping terminology, accounting concepts and financial statements. They will be taught about different secretarial practices and their responsibilities in an evolving financial market.
In Maths and Statistics, students will be introduced to a host of mathematical concepts like sets, sequence, series and determinants, differentiation, dispersion and probability.
In Information Technology, students will be taught about the use of multimedia, HTML and basic database concepts.
While in the second year of a commerce degree, students will be given in-depth knowledge about different forms of business organisations, emerging modes of business, the micro and macro economics of a country, knowledge about partnership firms, shares and business finance.
In Mathematics and Statistics, the syllabus will cover topics like mathematical logic, matrices, continuity, differentiation, demography, regression analysis and management mathematics.
Going along the commerce stream during high school will allow a student to pursue careers in fields such as finance, planning, accountancy, taxation, broking, banking etc. Some career options available to students in this field are:
- Chartered Accountancy
- Forensic Accounting
- Cost and Work Accountancy
- Company Secretaryship
- Investment Banking
- Market Research
- Capital Marketing
- Business Administration
- Human Resource Management
- Media/Mass Communication
- Financial Analysis
A number of degree courses can be pursued after Class 12. They are:
Accounting & Finance
- BCom (Bachelor of Commerce)
- BBI (Bachelor of Banking and Insurance)
- BAF (Bachelor of Accounting & Finance)
- BFM (Bachelor of Financial Markets)
- BMS (Bachelor of Management Science)
- BBA (Bachelor of Business Administration)
- LLB (Bachelor of Legal Law – 3 years)
IT & Computers
- BCA (Bachelor of Computer Applications)
Hospitality and Tourism
- BHM (Bachelor of Hotel Management)
- BHT (Bachelor of Hotel & Tourism)
- BMM (Bachelor of Mass Media)
Basic academic skills and attributes
“Students interested in numbers and accounts should opt for commerce,” suggests Surve. “Students with business acumen, who are interested in learning how companies work, must also think of pursuing the commerce stream.”
Moreover, commerce students can immediately start studying for a professional career like CA or CS.
Students go along the commerce stream if they possess the following attributes:
- Good analytical skills, i.e. comfortable with calculations and number crunching.
- Time management, i.e. completing the task within a specified time limit.
- Computing skills since accounting is nowadays mostly done on computer software.
- Good communication skills since there will be many queries regarding accounting entries. Accounting is basically team work, so while in a job, communication plays an important part.
Surve has a sound advice for students aspiring to pursue the commerce line: “Commerce students might have time left on hand after their regular college classes. They must utilise this time with internships at companies. This way they will practically learn how companies and their finances work.”
Colleges offering the Commerce degree:
- HR College of Commerce and Economics, Churchgate
- Narsee Monjee College of Commerce and Economics, Vile Parle
- D.G. Ruparel College, Matunga
- St. Xavier’s College, Dhobi Talao
- Ramnarain Ruia College, Matunga
- Elphistone College
- Mithibai College
- Wilson College
- Sophia College
- KC College, Churchgate
- Jai Hind College, Churchgate
- Sathaye College, Vile Parle
- National College, Bandra
- St. Andrew’s College, Bandra
- KJ Somaiya College, Vidyavihar
- SIES College, Sion