Just a year ago at this time. I was roaming about the corridors of different colleges.Was juggling with different career options. BMS or BBE or BFIA? Economics Hons or BCom Hons?
And the doubt list is endless.
This has prompted me to cover the scope of various commerce courses offered by Delhi University (DU).
So first of the series is BCom
It is one of the most sought after courses for commerce students, dealing with finance, accountancy, economics and a bit of management.There are a lot of options post BCom(Hons)/Bcom.
One of the most common careers that cross every commerce student’s mind is CA.CA exams are conducted by Institute of Chartered Accountants (ICAI) and requires one to clear 3 Examinations over the period of time that are CPT, IPCC and Final CA. After clearing one of the groups, a student is required to register for articleship with experienced CA’s for a period of two and a half years. After clearing both groups of IPCC and successfully completing your articleship you can appear for Final CA.
2. Company Secretary
The students can pursue this while doing graduation.Three stages to pursue the Company Secretaries Course are-
The Student who would like to join the Course after passing the Graduation has to undergo two stages of the Company Secretaryship i.e.
Scope of Company Secretary is becoming very broad with the growth in the corporate world. One can get into highly paid positions in the private and public sectors, various banks and financial institutions, the Department of Company Affairs, stock exchanges, company law boards and government departments.
3. Masters of Commerce (M.Com)
It is a two year program and you can pursue it from any of the recognized institutes. M.Com is a program that focuses on systematic study of Accounting, Business, Finance, Economics, Statistics, Taxation, Marketing and Management and therefore it gives insights about all the fields.
4. Masters of Business Administration
It is a two year program on completion of which you can easily get job in financial service sector. There is always someone in the family who will advise you to pursue MBA. A good career in MBA totally depends on the credibility of the institute that you are pursuing from.
5. Certified Management Accountant (CMA)
If you have plans of going global or working in the Top MNCs then going for international certifications is the right choice for you. The CMA is offered by the Institute of Management Accountants (IMA) USA and the content is regularly reviewed by the Institute of Certified Management Accountants (ICMA). To become a CMA, a student is required to clear two examinations.
6. Certified Public Accounting (CPA)
A Certified Public Accountant (CPA) is the highest standard of competence in the field of Accountancy across the globe. The exam is administered by the American Institute of Certified Public Accountants (AICPA), which is the world’s largest accounting body. A CPA qualification is similar to the Indian CA qualification. In addition to the CA qualification, a CPA will have knowledge of US Generally Accepted Accounting Principles (GAAP), IFRS (International Financial Reporting Standards), Generally Accepted Accounting Standards (GAAS), US federal taxation and business laws. This gives great advantage to a CPA when working with US Based Financial firms or Indian firms working for US clients. This exam consists of 4 exams which can be completed within a period of less than a year. Pursuing CPA after completing CA, M.Com, CS, MBA in finance, ICWA can also help your career to a great extent.
7. Association of Chartered Certified Accountants (ACCA)
ACCA (Association of Chartered Certified Accountants) is the world’s leading and fastest-growing international accountancy organization with 162,000 members and 428,000 students in 173 countries. The ACCA qualification helps develop successful careers in the fields of accounting, banking, management and consulting, and is a major advantage in competing for senior roles. ACCA is considered to be very similar to CA but ACCA program provides you with additional knowledge about UK GAAP, IFRS and laws which makes ACCA superior to CA. To successfully complete your ACCA program you will need to clear 14 paper (lesser in case of Exemptions).
Hence,the illusions as well as disillusions of BCom (Hons)/BCom stand busted.