EXPLORING THE OPTIONS AFTER B.COM
With such essential skills instilled in students while pursuing the B.com course, numerous options crop up for a B.COM graduate. Bachelor of Commerce, abbreviated as B.COM, is a three-year undergraduate degree course in commerce which is designed for students who want a career in Finance, Taxation and Accountancy. The students are equipped with a wide range of managerial, analytical and communication skills. The course provides an understanding of streams like Accounting, Economics, Business Law, Taxation, Insurance and Management which helps students to effectively identify issues, source information and to find efficient and practical solutions. After completing your B.COM, a sea of opportunities open up, some of which have been listed below. JOB SECTOR A degree in commerce makes it quite easy for a student to explore the Job Sector. Some of the job profiles which require a B.COM graduate are as follows : Accountant: An Accountant has to prepare asset, liability and capital account entries. They compile and analyze account information and summarize financial status of the organisation by collecting information, preparing balance sheets, profit and loss statement, and other relevant reports. They also have to audit documents to substantiate financial transactions. Auditor: An Auditor has to establish internal control by examining records, reviewing reports, operating and documentation. They have to compare items for documentation by verify assets and liabilities. They have to document audit tests and findings to audit papers. Consultant: A Consultant offers advice to organisations for helping them in improving their business performance in terms of operations, profitability and management strategy. Their work covers areas of Management, IT, Finance, Marketing, HR and Supply Chain Management. Company Secretary: A Company Secretary ensures that an organisation follows standard financial and legal practice and keeps high standards of corporate governance. They have to thoroughly understand the laws that affect their area of work. Business Analyst: A Business Analyst is responsible for designing of the business and IT system of a company. They have to interact with Business Stakeholders and Experts to understand their needs and problems. They have to gather documents and analyze business requirements. Finance Officer: A Finance Officer has to support the finance and accounting teams of the company. They report to the manager and provide assistant to prepare budgets, manage records and receipts. Sales Analyst: A Sales Analyst manages the field sales and the compensation process. They analyze sales requests and have to act on sales issues. They have to produce promotional materials and maintain sales reports. Junior Analyst: A Junior Analyst has to evaluate and verify the capabilities of a system.They act as the middleman between the users and software developers. They ensure proper dissemination of information. They are involved in system development and carryout instructions as directed by the Analyst. Tax Accountant: A Tax Accountant writes financial reports, handles book-keeping tasks, analyzes budgets, completes forms, discusses financial issues with clients, and provides strategies to reduce tax payments. Stock Broker: A Stock Broker job manages the finance of his client. They work for an individual or a company. The advice on investments. They analyze which shares should be bought or sold to get the best return of the money invested. Economist: An Economist researches, collects and analyzes data.They have to keep an eye on the economic trends and have to develop forecasts. They research the energy costs, inflation, interest rates, rents, imports, or employment. They also have to prepare reports. Business Development Trainee: A Business Development Trainee assists companies to acquire customers and sell products and services to the existing customers. They help in expanding business and diversifying its clients. Job Areas : B.Com Graduates can work in Business Consultancies, Educational Institutes, Industrial Houses, Public Accounting Firms, Policy Planning, Foreign Trade, Banks, Merchant Banking, Marketing, Treasury and Forex Department etc. Pursue A Higher Degree Course Students who do not wish to jump on the bandwagon of searching for a job can pursue higher studies after B.com. Some of the popular options are enlisted here. ? Master of Commerce (M.Com) M.Com is a two-year postgraduate course which focuses on commerce, accounting, management and economics-related subjects. This full-time course will increase job opportunities and enable you to work at higher posts. ? Master of Business Administration In Finance (MBA Finance) MBA in Finance is a two-year professional degree course. The students are given theoretical and practical training to help them gain a better understanding of general business management and its functions. Special focus is kept on finance and finance related subjects are taught along with management skills. CERTIFIED COURSES Chartered Accountant The Chartered Accountant is one of the most respectful and challenging career field. The CA course is conducted by Indian Chartered Accountants Institute. A chartered accountant has to deal with financial management and carry out financial audits. The duration of the course is upto 5 years. There are three levels of this course - CPT (Common Proficiency Test), IPCC (Integrated Professional Competence Course), FC (Final Course). CPT is the foundation course which involves quantitative aptitude test, general economics, merchant laws and accounting. The IPCC covers work knowledge of the core subjects. It is designed to improve the accounting standards. The Final Course gives advance knowledge of financial reports, management of accounts, strategic financial management, professional ethics and advanced auditing. Certified Management Accountant CMA is a course which is offered by the Institute of Management Accountants, USA. The curriculum is at regular intervals reviewed by the Institute of Certified Management Accountants. A student has to clear two examinations to become a CMA. A CMA develops professional expertise in financial planning, analysis, control, decision support and professional ethics. Certified Public Accounting A Certified Public Accountant has the highest standard in the field of Accountancy. The CPA exam is conducted by the American Institute of Certified Public Accountants. AICPA is the world’s largest accounting body. ACPA has the knowledge of US Generally Accepted Accounting Principles (GAAP), IFRS (International Financial Reporting Standards), Generally Accepted Accounting Standards (GAAS), US federal taxation and business laws. This thus gives an extra edge to a CPA when they work with US Based Financial Firms. There are 4 exams which can be completed within a period of less than a year. It can be of great help in shaping up your career. Association of Chartered Certified Accountants Association of Chartered Certified Accountants is an International Accountancy with 428,000 students in 173 countries. This qualification helps to develop a career in the field of accounting, banking, management or consulting. ACCA is similar to CA but ACCA program provides you with additional knowledge about UK GAAP, IFRS and laws. You have to clear 14 exams to successfully complete your ACCA program. Certified Bank Manager Programme It is a two-year course which covers areas of banking and finance, banking laws, treasury, credit, risk management and banking strategies. This course is offered by the Institute of Bank Management and Research (IBMR), Hyderabad. Diploma in Banking And Services It is a two-year post graduate diploma course offered by the Institute Of Finance, Banking & Insurance, Mumbai. A B.COM student should have minimum 50% marks to be eligible for this course. A personal interview is also conducted. Certified Financial Planner It is a Certificate course which is offered by various institutes. The institutes are : Financial Planning Academy, Mumbai; BLB Institute of Financial Markets, Delhi and Indian Institute of Financial Planning, Mumbai. You should be a graduate to be eligible for this course. This CFP certification provides specialisation in Financial Planning, Insurance and Risk Management, Investment Planning and Tax Planning. Certificate Course in Project Finance This certificate course is conducted by the Indian Institute of Banking & Finance and Institute for Financial Management and Research. Advanced skills and practical knowledge in the field of project appraisals, lending and finance is provided during the course. CRISIL Certified Analyst Programme It is a two-year programme conducted by CRISIL. The coursework is combined with job assignments and interactive seminars. A graduates should have at least 50% marks and qualified CAT, XAT or CRISIL Aptitude Test. This course helps to acquire financial and business skills.