In India, Many 10th Grade completed students take up commerce in their plus 2 or equivalent. Commerce stream is the study of trade and business activities such as exchange of goods and services from producer to the ultimate consumer. Commerce provides various subjects such as business studies, accountancy, economics etc. Many students study commerce as it provides a variety of career opportunities. Students can study more advanced commerce at the undergraduate and postgraduate levels.
At the undergraduate level, students can take up Bachelor of Commerce[Bcom]. Students are introduced to various managerial skills and competence in areas of business such as risk management, banking, advertising, computing, entrepreneurship, decision analysis etc. Generally, the duration of Bcom degree is 3 years. At the postgraduate degree, students can take up masters of commerce[Mcom]. The duration of MCom is 2 years. MCom is a unique course. Its concentration on one area distinguishes itself from other business and management degrees.
Commerce can be defined as "Commerce is that part of a business which is concerned with the exchange of goods and services and includes all those activities which directly or indirectly will facilitate that exchange."
The importance of commerce:
Commerce tries to satisfy human wants- Human wants are unlimited. Commerce has made distribution and movement of goods possible from one part of the world to another.
Commerce tries to increase the standard of living- Standard of living refers to the quality of life enjoyed by the society. People's standard of living improves when they consume more products and services. Commerce helps the society by meeting the needs of the people at the right time, right place and at the right price.
Commerce links producers and consumers- Production of every product is meant for ultimate consumption. Commerce plays a big role in linking producers and consumers through wholesalers, retailers, and aids to trade such as transportation, warehousing, advertisements, Banking, Insurance etc. Consumers can get to know every detail of the product without a struggle. The manufacturers can easily find out the latest trends followed by the society by indulging in market research.
Commerce generates employment opportunities- The growth of commerce. industries and trade have increased the growth of various sectors such as banking, transportation, warehousing etc. These sectors require being managed by people. Thus the development of commerce helps in increase in employment opportunities in a country.
Commerce increases national income- In a developed country, manufacturing industries and commerce together accounts for more than 70% of the total national income.
Commerce encourages international trade- With the help of transport and communication, companies can exchange their surplus commodities with other countries and earn foreign currency, which is required to import latest technologies and machines to ensure faster economic growth.
Commerce benefits underdeveloped countries- Underdeveloped countries can import skilled labor and technical know-how from developed countries and developed countries can import raw materials from underdeveloped countries. This helps in industrialization in the underdeveloped countries.
Some documents needed to do an undergraduate degree in commerce in India:
10th and 12th marks card
ID proof of parents/guardians
Some documents needed to do a postgraduate degree in commerce in India:
Any bachelors degree
Migration Certificate (if applicable)
Entrance exam marks sheets of CAT, XAT, MAT may be required
Some of the top colleges with their respective courses offered:
Sri Ram College of Commerce, Delhi
BCom (Honors), MCom
Kotak Securities, Citi Bank, Deutsche Bank, Samsung, McKinsey