As a stream of study, Commerce can be studied right after 10 years of schooling. After the 10 years of schooling – commerce is available as an option in 10+2 or the Higher Secondary level. This paves the way for higher studies in commerce related subjects. The undergraduate and postgraduate Education in Commerce is offered at University departments and colleges spread all across the country. Specializations are offered at post graduate and at research levels. A number of subjects can be studied under disciplines of Commerce in conjugation like; accountancy, economics, mathematics, business, finance etc. Most commerce colleges in India offer the following subjects: Business economics: This would cover concepts like the laws of demand and supply, law of returns, elasticity, theory of pricing under different market forms etc. Financial accounting: This subject would deal with the preparation of profit and loss statements, balance sheets and final accounts of a company, knowledge of Indian and international accounting standards, calculation of depreciation and valuation of shares and goodwill of a company. Cost accounting: This would include process, job and contract costing, costing of overheads, standard and variance costing and budgetary control. Income tax: This would encompass the nature and basis of charge of income tax, tax planning, tax deduction, incomes not taxable etc. Business finance: This would include in its scope financial analysis as a diagnostic tool, the management of working capital and its components as well as capital structure leverages. Business law: This subject would discuss the different laws in India relating to, among others, the Companies Act and the Consumer Protection Act.
Programs Offer in Commerce Education
Traditional Programs: Following study programs are offered by different university departments and colleges in India. 1
Intermediate in Commerce (Class XII): This is the preliminary stage (senior secondary level) where students get basics of commerce education. This is a two year course offered by various central boards (viz. CBSE, ICSE), state boards and councils. 2
Eligibility Criteria: A candidate must have completed 15 years of age and 10 years of schooling during the time of admission for this program. 3
Under Graduate (UG) Programs: In general, B.Com. (Bachelor of Commerce) is awarded under this program. There may be two options. One can simply take up BCom as a pass course or can take up with honours. 4
Eligibility Criteria: A candidate must have completed 17 years of age and 12 years of schooling during the time of admission for this program. Candidate also requires fulfilling the eligibility criteria laid by the University / Institutions / Departments in which he / she seek admission. 5
Post Graduate (PG) Program: In general, M.Com. (Master of Commerce) in relevant discipline is awarded under this program. One has to choose a specialization in a particular subject of his/her choice. 6
Eligibility Criteria: A candidate must have completed Bachelors’ Degree during the time of admission. He / she also require fulfilling the eligibility criteria laid by the university department in which admission is sought. 7
Master of Philosophy (M.Phil.): This is pre doctoral program offered by various university departments. Generally admission to this program is offered on the basis of Interview and past academic record. 8
Eligibility Criteria: This program is offered to candidates who shows research aptitude and who have good academic record. The minimum eligibility criterion for admission into this program is M.Com. in relevant discipline. 9
Doctoral Programs: Doctor of Philosophy (PhD) is awarded under this program. The degree is awarded in the area in which candidates carry out research and submit thesis work. 10
Eligibility Criteria: Most university departments asks for M.Phil. for admission into this program. Qualification in National Eligibility...
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