Commerce occupies an important place in the education system and covers subjects such as accounting, business law, economics, management, auditing and taxation. This dissemination is offered through various courses like BBA, BCom, MCom, BMS, MMS, MBA and many others. Commerce graduates can acquire professional qualifications including CA, ACCA, CMA, CIMA, CFA and CS, which accelerates their career progression.

The Indian economy has remained remarkably stable despite the effects of the COVID-19 pandemic. The economy withstood this shock due to its self-sufficiency and the presence of various sectors.

According to the McKinsey report on the implications of Covid for business, 86% of people in India expect the economy to improve over the next 6 months.

IMF’s projection of a 12.5% ​​growth rate by FY2022 for the Indian economy also supports their conviction, and there are therefore many opportunities for business students. seeking professionals in business administration and commerce, in particular audit and finance firms that hire graduates in accounting, auditing, law and taxation.

Auditing firms prefer applicants who have additional professional certification from recognized global certification institutes such as ACCA (UK), CIMA (UK) and CMA.

In addition, the new National Education Policy (NEP) encourages integrated apprenticeships and internships for students during graduation in order to prepare them for employment. Given the high demand for BBA / BCom and MCom graduates, sector skills councils encourage various sectors to offer internships / apprenticeships to students.

NEP has also opened avenues to initiate BBA and BCom (honors) by adding a research-oriented program in the fourth year of the UG programs. To meet business needs and the need to fit into a comprehensive curriculum, business education today also fuels the requirement for a multidisciplinary learning environment by offering open electives such as foreign languages ​​(French, German and Spanish), amplifiers of creativity as the management of innovation, creativity thinking and conception of business thinking and culture.

The dynamic business world also demands the introduction of contemporary specialty courses such as health economics, financial economics, digital marketing, and analytics. Health professionals are expected to understand the economic valuation of the health system. To effectively use their business skills and gain a competitive advantage, a student can pursue a master’s program in business analysis.

The field of business analytics has risen to new heights due to the significant explosion of data available to businesses today. To keep up with analyst demand and close the talent gap, universities have developed graduate courses in business analysis. This course is suitable for graduates with a quantitative background such as science, mathematics, and business or engineering. Students’ chances of landing a job increase with a master’s in analysis.

Given the shortage of professionals capable of implementing key business strategies involving IFRS, GST, auditing, and regulatory compliance, there is an increased demand for business graduates and trained professionals in these fields.

Entrepreneurship education is particularly helpful for students who want to become entrepreneurs. Students can choose to run family businesses and develop their family business as next generation entrepreneurs.

Today, most of the best universities in the country also offer students the opportunity to pursue master’s programs in each of these specializations with partner universities abroad.

Chartered Accountant

A CA or Certified Chartered Accountant is a professional accountant who is hired by individuals and businesses to handle financial transactions such as auditing financial statements, filing corporate income tax returns, and providing financial advice.

In general, they help with all the financial requirements of a business. CAs can also choose a line of work in which they would like to specialize.

A chartered accountant is hired to do more with the outward appearance of a business.

In other words, the job of a CA is to assist and advise shareholders and investors on their financial needs.

To become a CA in India, you must take the CA Foundation, Intermediate and Final courses of the Institute of Chartered Accountants of India (ICAI).

Company Secretary

A Company secretary, corporate secretary or simply a CS is a person responsible for the effective management within a company by ensuring that all employees, as well as the board of directors, comply with the legal requirements.

A CS is also responsible for ensuring that all decisions of the board of directors are successfully implemented within the company.

The job of a Company secretary is to supervise all employees: lower, middle and upper management act in accordance with the law; keep and maintain company records, communicate with shareholders and directors, among others.

To become CS in India, you need to take CS Foundation, Executive and Professional courses from the Institute of Company Secretaries of India (ICSI). The computer course offered by the institute has many advantages.

Cost and management accountant

A CMA or a cost and management accountant is responsible for the allocation, administration and regulation of funds in a company; any business.

A management and cost accountant is a person who performs these functions.

A job like CMA is rewarding and well paid, while still being respectable.

A CMA is more concerned with the responsibility for internal events of a company and the next steps within the organization.

To become a successful CMA in India, you need to take the CMA Foundation, Intermediate and Final courses from the Institute of Cost Accountants of India (ICMAI) and there are many benefits to taking this CMA course from such a respected institution and wanted.

Can I take all three courses: CA, CS and CMA at the same time?

As for the question of continuing with the three courses, there is no right or wrong answer. Yes, you can take all three courses simultaneously, especially if you are studying online. By doing so, you can weigh your strengths and weaknesses in all facets of accounting and finance and choose a career. However, the downsides to this are that you will have to bear the added cost of taking the courses at the same time (which can be a lot), as well as the added stress of administering the exams for all three courses. You may also need to obtain prior authorization from the respective institutes and adhere to their policies. It is better to eliminate all these worries before embarking on such a difficult business. In addition, each institute organizes its exams independently, so there may be conflicts with the dates of the exams. If so, you will be given priority in the course you want to complete first.

 What are the advantages of the CS course?

• A well-paying job: A CS is a well-paying job. While beginnings may be small, there are many opportunities to enter larger companies and earn a substantial amount of money.
• Something out of the ordinary: In a world of doctors and engineers, a CS position is not only in demand, but also sets it apart.
• Collaborations: ICSI has Memoranda of Understanding (MoU) with renowned academic institutions such as IGNOU and ICAI, London – another advantage that you can add to your existing skills.

What are the advantages of the CA course?

Apart from all the points mentioned above, here are some benefits of an ICAI CA course:

• Financial Security: The average starter package for a newly created CA is around 7 lakhs per year. It ranks even with computer science graduates. And education is for a fraction of the cost.
• Excellent return on investment in training costs: ICAI CA course is much lower than any engineering course. You can expect to pay as little as Rs 50,000 if you pass all your exams on the first try! (As of 2018). Not only that, you will receive an allowance while you do your practical training. So you will get your education money back almost immediately!
• High AC Demand – ACs are always in demand. In fact, the demand is greater than the supply. Therefore, the accounting experience, for the foreseeable future, will never be saturated.
• Opportunities to work abroad: As a CA, you will have many opportunities to work abroad if you wish. Canada, United States, United Kingdom, Hong Kong, New Zealand, to name a few.
• More Study Opportunities – You can choose to take advantage of your CA qualification for higher degrees. For example, around 100 Indian universities recognize a CA degree as equivalent to a graduate degree to enter their PhD programs.