Commerce

As a commerce graduate, you will be involved in activities or enterprises (economic, social, technological, legal, cultural and political), that operate in the country or in international trade, related to the exchange of goods and services.

What does a Commerce graduate do?

Commerce graduates are mainly hired to perform generalist jobs such as assisting in accounting, administrative works, customer support etc. They usually opt to obtain a higher degree by specializing in various areas related to commerce.

What does a typical day at work involve?

  • Checked Manage and record day to day financial transactions of the company
  • Checked Gather and analyse daily financial transactions to prepare entries to accounts, such as general ledger accounts, and business transactions
  • Checked Resolve accounting discrepancies
  • Checked Understand revenue and expenditure trends and recommend appropriate changes in budgeting and ensure expenditure control
  • Checked Implementation of accounting and budget control procedures
  • Checked Develop and keep financial databases, computer software systems and manual filing systems
  • Checked Calculate taxes and ensure that taxes are paid properly and on time
  • Checked Provide directions to reduce cost, enhance revenues and profits
  • Checked Find and resolve issues in financial operations and take remedial actions

What are the main specializations in Commerce?

Ecommerce refers to the transaction of goods or services using the internet. This specialization will provide expertise in varied domains such as marketing, product design, product development, finance management, business analysis, supply chain management and content management.
Accounting can be broadly defined as the systematic recording of financial transactions pertaining to a business. It includes the process of summarizing, analyzing and reporting those transactions to be presented in financial reports.
Taxation professionals deal with organizing and maintaining records of tax payments and creating, enforcing and overseeing a tax plan for a business or on behalf of an individual client.
Management professionals specialise in formulating overall strategies and establishing policies in order to ensure that the organisation meets its planned goals.
An economics specialist examines theories and models used to analyze data, identify empirical patterns, forecast economic variables, and make decisions.
Finance specialists focus on corporate finance, investment management, and financial risk management.
Marketing specialists focus on the functional areas and techniques used for marketing.

How to become?

Step 1
Take any stream at the 10+2 level.

Candidates who have chosen any stream at the plus two level would be eligible for higher studies in commerce, but opting for a commerce stream would be recommended as it will help build a stronger base in the fundamentals of the field. Some institutions may have specific subject requirements as well.

Step 2
Take Bachelor of Commerce (B.Com)

The common course offered at the UG level in this area is B.Com. This is a 3 year UG program.

Step 3
Take Masters in Commerce (M.Com)

After completing the UG degree in commerce, you can go for an M.Com in a specialisation that you prefer.The Duration of M.Com is usually 2 years.

Step 4
Take M.Phil. or Ph.D in Commerce

After M.Com, you can do M.Phil or Ph.D in Commerce by specializing in any major fields under Commerce. M.Phil is usually 2 years and Ph.D takes a minimum of 3 years.

Requirements for masters in commerce

Requirements for admission into a PG course in one of the top institutions to help you get an overall picture

India (M.Com from Shri Ram College of Commerce)

  • 50% of seats will be filled through the direct admission procedures,where the student should have under graduation(commerce) from Delhi university with minimum 65% of mark(general category).
  • The Rest of 50% will be filled through the entrance examination conducted by the institution, student should have completed under graduation in commerce with 50% of marks.

Foreign (Master of Science in Accounting from New york university)

  • Clear GMAT or GRE.
  • IELTS: minimum score 7
  • TOEFL: minimum score is 100
  • Two essays (500 word maximum for each).
  • Letter of recommendation.

To see the entrance exams, scholarships and UG admission details, click here

Skills Required

Analytical skills

A person who is working in the commerce field must have skills to analyse and interpret simple and complex data to solve problems and make decisions.

Communication skills

Good communication skills will help to communicate financial information with colleagues, clients or higher authorities of a firm.

Math skills

The field of commerce requires basic skills in maths and statistics to analyze and interpret facts and figures.

Organizational skills

A commerce graduate should have good organisational skills. They should be able to manage documents of many clients and keep their documents in good order.

Time Management skills

A person working in the commerce field will often need to stick to a lot of deadlines as part of their work. Hence they should possess excellent time management skills to be competent and successful.

Strong IT skills

Information technology has an indispensable role in the commerce field. Various software solutions may need to employed during their work and hence people working in this field should be well versed with it.

Industries

  • Checked Consulting & Professional Services
  • Checked Recruitment
  • Checked Building & Construction
  • Checked Media
  • Checked Insurance
  • Checked Banking & Finance
  • Checked Telecommunications
  • Checked Government
  • Checked Hospitality & Tourism

Top companies

  • Checked HDFC Bank
  • Checked ICICI Bank
  • Checked Tata
  • Checked Mahindra Group
  • Checked Amazon
  • Checked ITC
  • Checked Reliance