Bachelor Of Commerce or B. Com is one of the most popular management degrees in undergraduate courses. Generally, students who wish to make a career in domains like high paying jobs in the finance, marketing, banking, and accounting sectors take up this as a major.
For the students who loved mathematics classes when they were in school, B. Com is a step forward in the world of calculations and formulae. The core subjects like finance and accountancy require playing with numbers again. An ideal combination of numerical and analytical skills and interest in commerce and finance will make you a perfect candidate for the B. Com degree.
While the banking and financial sectors are always open for a B. Com. degree holder, many industries including manufacturing, retail, service firms, hospital and hospitality, travel, transport, tourism, and government organizations rely on these graduates to run their basic business operations. When it comes to the pay, a B.Com graduate can get an average starting salary in the range of 12,000 – 15,000 INR per month.
So, what is a B. Com degree all about? What are its offering, and what are the skill sets required to opt for the most lucrative career options right after a B. Com degree? Let’s get into the details of the subject.
Bachelor of Commerce (B.Com) is a three-year undergraduate course designed to provide students with a wide range of managerial skills and professional competence in a particular area of commerce stream which might include organizational structures, accounting principles, export and import law, economic policies, secretarial practices, company ethics, etc.
Skills Of An Ideal B. Com Graduate
Financial Accounting: B. Com graduates, especially the students who dream of working in the Banking and Financial sector, should get a grasp of the basics of financial accounting. If you are a B. Com graduate, then learning computerized financial accounting is a must-have skill that will help you stand out amongst your peers.
The right knowledge and understanding of Financial Accounting can help fresh graduates maintain business records effectively, prevent and detect fraud, help them prepare the company’s financial position, and compare the company’s final results at the end of fiscal years.
Good knowledge of MS Excel: A good working knowledge of Microsoft Excel is necessary for the B. Com graduates as those working in banking, finance domains are expected to draw up charts, tables formulae effectively.
Also, the computer knowledge must not be only limited to Microsoft Excel but should include all the other elements of Microsoft Office and other basic Computer Applications to simplify and ease the routine operations.
Basic Knowledge of Taxes: Good grasp of central and state government taxes like income tax, excise tax, service tax, etc. is a must for all the B. Com graduates. May it be any firm, private or public, any business, whether large scale or medium scale, updated, and complete knowledge about the Indian Taxation System is a must.
Along with this, a good knowledge of new taxes introduced by the government like GST and other related modifications in the existing taxation system is a must for the B. Com graduates.
Basics of Financial Analysis: It goes without saying that having a good knowledge of financial analysis is a must for a B. Com graduate. If a graduate wants to work in corporate finance, as an Investment Banker and other major financial roles, it is a must-have skill.
Analytical and quantitative skills of the B. Com graduates need to be sharpened, hands-on experience of statistical skills is an added advantage for the students.
Internship Experience: Practical hands-on experience is a must-have skill, especially in the banking and finance domain. Even if a fresh graduate has not secured an entry-level job after graduation, volunteering for an internship at accounting firms, management consultancies, etc. can give excellent career exposure. The students can get hands-on training and move on to an entry-level position in a reputed firm after gaining some experience after a few months.
Also, it is a mandatory part of the curriculum in most colleges to undergo an internship during the academic session, which adds high credibility to the undergraduate degree.
Along with a detailed discussion on the prerequisites/ skills of an ideal B. Com graduate, the next most important topic is selecting a right college that inculcates and develops the required skill sets in the students to prepare them for the professional world.
Sir Padampat Singhania University in Udaipur is one of the best management colleges of Rajasthan providing quality education, developing required skill sets with ample amount of practical exposure through regular training sessions, role plays, industry interactions, workshops, seminars, etc. with the Industry Experts that gives a real insight into the practical world to the students. Also, SPSU offers paid internship opportunities in top companies of India and abroad, which acts as a significant career booster for the students making it one of the top ten B. Com colleges of Udaipur, preparing its students to be industry-ready and competent professionals.