What is BCom in Accounting & Finance?
A Bachelor in Commerce degree with a specialization in Accounting and Finance is a 3-year undergraduate course that teaches you the fundamentals in these disciplines. The student is introduced to the basic principles and technical skills that form the foundation for advanced degrees as well as professional commitments.
You are eligible to apply for this course if you have completed your 10+2 from a recognized board with a minimum 50% score. The stream chosen in your Std XII does not affect your eligibility. An Arts or Science student can pursue this BCom degree.
Let us explore more about this degree in this blog. We will find out the benefits of this program in terms of its career scope, the topics covered and the salary prospects.
Benefits of doing BCom in Accounting & Finance
This undergraduate program helps to a large extent in determining where your strengths and interests lie in the field of commerce. This is facilitated by getting introduced to most of the core topics like general business principles, accounting, finance, economics, business management, human resources and marketing.
A student of this program will certainly be a good fit for any organization because of the knowledge base in the utilization and planning of finances. Moreover, this strong foundation allows one to explore other important professional degrees like CA, MCom or MBA.
We can explore the benefits of pursuing this degree in some detail here.
Scope of better accounting knowledge: The subjects covered in this particular degree are such that they provide you with the technical expertise not explored in other branches of commerce. Most of the colleges cover the following topics over the three years:
|First Year||Second Year||Third Year|
Law & Practice
Commercial Law & Industrial Law
Accounting for Managerial Decisions
Emphasis on accounting career: The knowledge of accounting or accountants play a crucial role in the running of every organization. This degree thus produces professionals like Chartered Accountants. In various countries, certified public accountants are much in demand and have a good career path as well. The responsibilities of an accountant include preparing an organization’s financial statement and other records, provide advice on ways to reduce costs, increase revenues and profits, ensure timely payment of taxes and secure financial data.
Excellent Career Prospects: In the above sub-section we explored the various responsibilities of an accountant. That explains why every organization needs at least a few of them. Therefore, we know that this career path comes with stability and a good number of opportunities at any given time.
The sectors that usually employ accountants are:
- Company Secretary
- Chartered Accountancy
- Cost Work
- Stock Broking
- Agricultural Economics.
After completing this degree, you are set to find a stable job in both big and small companies. This specialization paves the way for climbing up the ladder fast. So, what are the positions that one can aim for?
- Tax Auditor
- Finance Manager
- Finance Analyst
- Portfolio Manager
- Investment Analyst
- Stock Broker
- Tax Consultant
Besides the vast number of employment opportunities, this degree also allows you to be employed by some of the biggest names in the world.
Some of the top recruiting companies are:
- PriceWater Coopers.
Higher Salary Packages: The average base salary of a person with a Bachelor of Commerce degree is around Rs 454,000 per annum (Source: Payscale). Higher up in the ladder, a Finance Manager can earn up to Rs 988,000 per year. An Operations Manager can also be drawing an average salary of Rs 730,000 p.a.
Skills that you can pick up: With good knowledge of accounting and finance, you will be able to decipher the complexities of money, business and management. It helps you gain knowledge about different practices related to commerce, industry and finance. This course will also help you in picking up skills in numerical and quantitative calculations, oral and written communication and entrepreneurship.
Admission Process: After having explored the vast scope of this program let us find out how and where should we study this course. One of the good ways to find out about the colleges that offer this program is by going through the information provided on traditional and digital media sources.
Many of these colleges shortlist candidates on the basis of their scores in entrance exams. Hence, you need to start preparing for these tests. One way to go about it is by understanding the type of questions and topics covered in these exams. The usual pattern is to test your quantitative aptitude, verbal ability, logical reasoning, general ability and current affairs.
Where to apply: Many colleges in India offer this programme and so to narrow down the search you can look at the track record of these institutions. We did some research for you and according to that ASM IMCOST appears to be the best of the lot.
Let us take a quick look at what ASM IMCOST has to offer.
– 3-year course split into 6 semesters
– Programme includes industrial visits, practical training, job orientation, placements.
– Excellent Placement Support
We have now explored the various facets of BCom in Accounting and Finance and it has come out as one of the best options for a student after completing Std XII. The career options coming out of this program are great. It allows you the scope of gradually pursuing advanced skills to reach professional heights. Moreover, you will be better equipped if you have entrepreneurship dreams and are keen to achieve them.
If your plans and ambitions align with this framework then it is the right time to check out ASM IMCOSTs course at www.imcost.edu.in. The window is open. Send in your applications now!