WHY STUDY COMMERCE (B.COM)?

 

VIJAYGARH JYOTISH RAY COLLEGE

DEPARTMENT OF COMMERCE

WHY STUDY COMMERCE (B.COM)

B.Com is one of the programs in the general and traditional academic system and it is a means of career building and employment opportunity which becomes available to the students after the successful completion of the program.

This program is designed in such a way as to allow students to develop managerial and analytical skills, financial literacy, business acumen and leadership skill.

---It is a degree program structured to provide the students managerial skill and disciplines related to Trade, Commerce, and Industries, and corporate affairs. By the end of the program, students gain an in-depth knowledge on core subjects like accounting ,law, statistics, , marketing, taxation just name a few. However the outcome as derived or expected to be derived or acquired the benefit of the program named Bachelor of Commerce is mentioned below for convenience:

---It enables the students to take decision at personal and professional level. It also enables students to develop business acumen, managerial skills and abilities of accounts.

---It provides the knowledge how to start up own business independently. These programs encourage entrepreneurship spirit among students and encourage them to participate effectively in social, commercial and civic senses ultimately leading to national development.

---Students can acquire the knowledge, skill in different areas of communication, decision making, innovation and problem solving in day to day business activities. This will develop the ability to think critically and independently translate into well-developed personal value system.

---Students are able to do their higher education and can make research in the field of accounting and finance, marketing and taxation etc. Students can pursue the commerce course at post-graduation level like M.Com, MBA, and M. Phil.

Considering all these in depth of B.Com. program outcome  the following conclusion may be drawn on the basis of the opportunities and future prospective  available to the students of commerce after successful completion of B.com course:- 

1.      Employment opportunity- It provides high employment opportunity as it educates the students regarding financial aspect of business need to be managed.

2.   Career prospects- Here are the scope for the student to explore himself after obtaining   degree. Looking for career prospects in the interdisciplinary domains of commerce can provide excellent job opportunities. Like  Banking, Company Secretary, Chartered Accountancy, Economics, Cost work and Accountancy, Stock Broking,

3.     Numerous job profile options- A successful B.Com student can choose to be any of the following:-

a.      Accountant

b.      Tax Auditor

c.       Finance Manager

d.      Cost Accountant

e.      Finance Analyst

f.        Finance Planner

g.      Port Folio Manager

h.      Investment Analyst

i.        Stock Broker

SCOPE AND DIMENSION OF STUDYING B.COM

Among commerce courses students may have mind set up in selecting from specialized and specific fields in force under the University of Calcutta such as:-

v *Accounting and Finance

v *Marketing Management

v *Taxation 

v *Computer application and e-business  

 

v Accounting and Finance

1.      Accounting and finance in a broad sense enables the students to be the master of accounting concepts and convention both nationally and globally by the way of applying the accounting standards with the convergence with IFRS which may help a student of B.Com to be an accountant, financial adviser , Auditor ,financial analyst etc.

2.      It enhances the knowledge of finance and commerce in the students pursuing B.Com. Students will be able to communicate effectively both in terms of business as well as social interaction

3.      It provides knowledge of different specialization in accounting, taxation, costing banking & finance with practical exposure.

4.      Students are able to learn relevant Advanced accounting career skills, applying both quantitative and qualitative knowledge to their future career in business. It enhances the knowledge through systematic and subject skill within various disciplines of finance, auditing and taxation, accounting and management, Business communication and computer application, Micro -economics and Macroeconomics, mathematics and statistics, cost and management accounting, business ethics and entrepreneurship development etc.  Thus, Students can also get practical skill to work as accountant, audit assistant, tax consultant, and computer operator and also other financial supporting services.

v Marketing Management

This course enhances practical knowledge and the tactics in the marketing, trend and concepts of marketing.

1.      As it focuses on practice and application of theory such as research, nature of consumers, sales management, advertising, quality of management, law and ethics in the marketing environment, an all-out employment spectrum in this arena become accessible to the students of Marketing management. For example Marketing manager, marketing assistant, marketing co-coordinator Digital marketing manager etc.

2.      It prepares students for entrepreneurship and employment in the corporate world .It enhances enough business and financial knowledge that they can adapt to a job or of an entrepreneur.

 

v Taxation

      This course prepares students for various positions in the area of tax department and various financial administration, financial planning, wealth management, property valuation etc.

1.      It enables the students to develop to file income tax return and compute tax liability of assessee (rather person as defined in Income Tax Act)

2.      It prepares the students to develop the proficiency in tax management of an organization. It helps to be a good Tax consultant, Tax auditor and Tax adviser.

3.      It enables the students to be efficient for the effective mobilization of funds with minimum tax obligation by the way of tax planning and procedure.

 

v  Computer application and E-business

Students are able to be familiar with computer environment and operating systems; it enables the students to introduce the accounting package like tally and to develop skill and practical knowledge in education of commerce.

This course makes the students fit for not only IT sector but also for corporate world. It makes the students to become smart and employable as it bridges the commerce and computer applications. Training in computer application and e-business transactions in the field of commerce is an extra mileage in placements.

1.      After completion of this programme one can join any of the area like MBA, MCA, M.Com (CA) ACS, etc., computer programmer, computer assistant, computer laboratory technician.

2.      By the technology of e-commerce students are able to understand the significance and application in the sphere of B2C, B2B, and C2C.

3.      It enables the students to be well versed in Electronic funds transfer, in on line business dealing and in digital business activities.

PROSPECTS AT END

B.Com. course covers broad areas with different subjects relating to economic activities of entity. As a result, the outcomes with multiple dimensions are available to a student of B.Com pursued or pursuing this program. The different subjects in the teaching and learning method are taught within 3 years consisting of 6^th semester periods. However the courses (both in Honours and General) and its outcome are being projected here under ignoring the semester wise subjects rather emphasizing on the subjects taught during the semesters.

1.            Financial Accounting:

a. It enables the students to learn principles and concepts of accountancy.

b. Students are enabled with the knowledge in the practical application of accounting.

c. It enables the students to learn the basic concepts of partnership accounting, corporate accounting and all other allied aspects of accounting.

d. The students will get through knowledge on the accounting practice prevailing in business entity with profit motive and service oriented.

 e. It helps to find out the technical expertise in maintaining the books of accounts, the fairness and trustworthiness of prepared accounting reports.

2.   Entrepreneurship development and Business Ethics:

Here, students are able to acquire the knowledge of business environment which helps to develop entrepreneurship awareness and it motivates the students to think for startup of new venture. It educates the students to carry the concept and techniques of fair business practices by the way of applying the established and popular business ethics following the CSR and social needs.

3. Communicative English develop oral and written communicative  skills of the students and ,develop  overall linguistic competence which ultimately helps employment;

4.    Business Economics provides knowledge of micro and macroeconomics concepts and inculcate an analytical approach to the subjects, economic theories and economic reasoning to solve the business problems and it educates the students the theory and practice of economics like GNP, NNP, INCOME AT FACTOR COST, per capita income, It helps the students to make the business matched and balanced with the economic environment. It makes the students understand the effectiveness of economic factors in taking business decision.

5.   Principle and Practice of Management, and Human Resource Management help to understand the concepts, principles, theory and practice of management and ensure the managerial efficiency in the case of finance, personnel and governance in the business activities.  It helps to acquire the policies and techniques for motivating the human resources into human capital. It helps to know the tools and techniques of coordination, planning, control, organization etc. and the way of application the same in the business entity.

6.   Financial Management helps in improving profitability of organizations and increases the overall value of the firms or organizations. It provides economic stability by the way of determination of optimum capital structure, framing financial policies and regulation, imposing financial control, investing capital for effective return.

It helps to open a lot of diverse career opportunities like investment banking, entrepreneurship, financial analysis, financial and managerial accounting. It helps to take decision for effective and productive financing the entity with minimum risk and, determining the startup capital in the case on newly set up.

7. Company Law and Business Law educates the students regarding fundamental Rules and Provisions of different Acts and company Act  and  its application in business  particularly  in  corporate affairs. It helps for employment in different areas in corporate affairs and other business entities .It enables the students to have a clear conception of the laws and acts regulating the overall activities of the entity.

8.   Cost and Management Accounting enables the students to take decision by the way of ensuring cost efficiency and establishing cost control for further development of the business  for both long term and short term basis. It educates the mechanism for making harmony between theory and practice of different method of costing. It helps the students to diagnose the company/business entity by applying the tools and techniques of Management accounting and able to find out the remedial measures for the development of the business. It helps to take decision for development, renovation, modification and adoption of strategies and technique for the entity.

9. Business Mathematics & Statistics helps the students to acquire new skill of application of statistical tools and techniques in business for decision making ,  popular quantitative tools used in business, practical exposure on calculation of measures of average, correlation ,and regression . Students can understand the techniques and concept of different types of index and matrix.

It enables the students to take decision in the case of critical affairs related to the investment of funds and or asset. It helps to measure the business risk, financial risk, and to take decision for best possible alternative uses of fund.

10. Information Technology helps to make the students to be updated and smart in practicing the different tools and means used in computer. It helps to know the theory and application of different system and concepts in software engineering, Tally i.e. accounting packages and to understand the system of networking with different language of computer. It has very much functional and effective to the students of commerce.  It creates the employment opportunity through the knowledge of computer application in business.

11. Auditing and Taxation –Students will be versed in the fundamental concept of auditing and different aspect of Direct and Indirect Tax. It enhances the knowledge about preparation of audit report, submission of income tax return, advance tax ,tax deducted at source. Indirect tax  enable the students to determine the GST, IGST to submit GST return etc. and  it becomes helpful for the employment of the student of commerce in corporate and other business firm. It makes the employment easily accessible to the students of B.Com with the knowledge of principle and practice, rules and regulations, Acts and provision for the computation of income, submission of return on income, assessment of return of income in connection with direct and indirect taxation. By the knowledge of auditing students become able to act as audit assistant, financial advisor, and accountant.