B.Com. (Bachelor of Commerce)

Last Updated on August 10, 2023 by Vishnu Nambiar

B. Com. stands for Bachelor of Commerce. It is a 3 years long Graduation program. Usually, it is Commerce stream students who choose this course after 12th standard schooling. But technically, even Science, as well as Arts stream students, are eligible to pursue this course! In the past, B. Com. used to have many takers. In fact, it was one of the most sought-after and valuable Degree programs. But with the introduction of technical courses like Engineering, B Sc, etc, B. Com. had lost some of its old glory. As of now, B. Com. has managed to reinvent itself with the introduction of new areas of specialization! And still today, it is a favorite among Commerce stream students! In this article, we will check out some important details related to the B. Com. course, such as the advantages of pursuing this course, areas of specialization, career prospects, scope, etc.

First of all, let us check out what B. Com. program is all about. Let us check out the basic details associated with the course.

You may also check – banking courses in India.

B. Com. – basic course details

It is one of the oldest degrees offered by Colleges in India. Normally, it is a program that lasts 3 years. In the past, B. Com. used to be a general course, covering a number of subjects, which were commonly related to the commerce sector. Students had to select a combination of subjects that they had to then pursue.

At present, the old B. Com. program is offered across Colleges in India. Along with it, newly introduced specialization programs are also being offered across many Indian Colleges.

Talking about the core subjects of the program, one can say that B. Com. program usually focuses on subjects like-Accounts, Mathematics, and Economics. Nowadays, as I mentioned above, new B. Com. programs and specialization courses are also being offered. Some of the new programs are- B. Com. in Computer Application, B. Com. in Information Technology, B. Com. in E-Commerce, etc.

The 3-year-long course is divided into 6 semesters. Let us analyze each semester and the core subjects that one has to face in each semester. I’m talking about the regular B. Com. program and not any specialization course. Let us start with the first semester-

B.Com. syllabus and important subjects

1st-semester core subjects

1. Business Economics-1 – the main aim of this subject is to familiarize students with the various concepts of economics and their applications. Some important topics covered in this subject are- economic and non-economic activities, wealth, goods and services, value and price, consumption, production, exchange, and firm & industry.
2. Financial Accounting-1 – the main aim of this subject is to familiarize students with the concepts of Accounting. Important topics covered in this subject are- Indian Accounting Standards, Accounts for Non-Profit Organizations, Amalgamation of partnership firms, Accounts of Joint Life Policy, and Accounts of piecemeal distribution of cash among partners.
3. Company Law-1 – the main aim of this subject is to impart the basic knowledge of Company Law. Important topics covered in this subject are- the development of Company Law in India, Joint Stock company- types and formation, Documents required to form a Company, Share capital and procedure for issues of share.
4. Business Administration-1 – basic Management skills are imparted to students using this subject. The main topics covered in this subject are- introduction to Management, planning, organizing, staffing, directing, and controlling.
5. Fundamentals of Entrepreneurship-1 – to create entrepreneur awareness among students, to make them aware of the business environment, and motivate them to take up entrepreneurship, etc are some of the main aims of this subject. Principles of Entrepreneurship, Introduction to Entrepreneurship, and Social Responsibility and Accountability are some of the main topics covered in this subject.
6. Fundamentals of Marketing-1 – the main aim of this subject is to familiarize students with the basic concepts of Marketing practices. Some important topics covered in this subject are- Introduction to Marketing, Marketing Organization and Environment, Marketing Mix, Physical Distribution, and Price Mix & Promotion Mix.
7. Computer Application & IT-1 – Information Technology has started influencing so many fields out there! The aim of this subject is to familiarize students with the concepts and uses of Information Technology. Important topics covered in this subject are- Internet and Internet concepts, MS- Word, MS- Excel, and Conversions.
8. SSP-1 – Imparting Salesmanship skills is the aim of this subject. Personal Selling, Promotion Concepts, and Sales Organization are some important topics that are covered in this subject.
9. Mathematics-1 – Introducing students to various Mathematical theories is the main aim of this course. Sets, Permutations and Combinations, Binomial Theorem, and Sequence and Series are some of the important topics covered in this subject.
10. BRF-1 – this subject’s main aim is to familiarize students with the Business Regulatory Framework. Important topics- Indian Contract Act-1872, Sale of Goods Act- 1930, Consumer Protection Act- 1986, Competition Act- 2002.
11. Elective subject – Elective courses vary from one Institute to another. Some common elective subjects offered are- Accounting and Finance, Banking, Business Management, etc.
12. Apart from the above-mentioned subjects, the English language subject- English-1 is also present.

2nd Semester core subjects

1. Business Economics-2 – Important topics covered- Pricing analysis and Distribution of National Income.
2. Financial Accounting-2 – Important topics covered- Consignment Accounts, Joint Venture Accounts, Accounts of Purchase of Business, Accounts of sale of firm’s business, and knowledge of Indian Accounting Standards.
3. Company Law-2 – Important topics covered- Membership of a Company, Board of Directors, Dividend, Company and Bonus Shares, Filling and Filing of Forms and Returns, and Rules of Corporate Governance.
4. Business Administration-2 – Important topics covered- Communication, Leadership, Decision making, and Group Dynamics.
5. Fundamentals of Entrepreneurship-2 – Important topics covered- Establishment of new Industrial Unit, Environmental aspects regarding Industry, Contribution of Entrepreneurs and Entrepreneurship Development Programme.
6. Fundamentals of Marketing-2 – Important topics covered- Advertising, Salesmanship, Market segmentation, and types of Marketing.
7. Computer Application and IT-2.
8. SSP-2 – Important topics covered- sales management, sales policies, training of salesmen, and control of salesmen.
9. Mathematics-2.
10. BRF-2 – Important topics covered- The Securities, Companies Act 1956, The Security and Exchange Board of India Act 1992, Cyber Laws, and RTI.
11. Elective Subject.
12. Apart from the above-mentioned subjects, English language subject- English-2 is also present.

3rd Semester core subjects

1. Money Economics and Financial Systems-1 – Important topics- Indian Banking System, Financing, Non-Banking Financial Institutions, International Monetary and Financial Institutions, and Theories of Value of Money.
2. Cost Accounting-1 – Important topics covered- Introduction to cost Accounting, Material Cost, Labour Cost, Unit Costing, and Overheads.
3. Income Tax-1 – Important topics covered- Income Tax Act 1961, Income under the head ‘salary’, Income under the head ‘property’, Value Added tax, and Income Exempted from Tax.
4. Corporate Accounting-1 – Important topics covered- Alteration of share capital, Final Accounts of Company, Liquidators Accounts, Accounts of Underwriting Commission and Indian Accounting Standards.
5. Business Communication-1 – Important topics covered- Business letters, Inquiries and replies, Verbal and Non-Verbal Communication, and Scope of Business Communication.
6. Elective subjects.
7. Apart from the above-mentioned subjects, English language subject- English-3 is also present.

4th Semester core subjects-

1. Money Economics and Financial System-2 – Important topics covered- Reserve Bank of India, Inflation, Exchange rate, and Interest rates.
2. Cost Accounting-2 – Important topics covered- Process costing, Contract costing, Operating costing, and Job and Batch costing.
3. Income Tax-2 – Important topics covered- Income under the head of ‘capital gains’, Income under the head of ‘business or profession’, Income under the head of ‘other sources’, Tax Deducted at Source (TDS), Advance Tax and Interest and Service Tax.
4. Corporate Accounting-2 – Important topics covered- Amalgamation of Companies, Absorption of Companies, External reconstruction of Companies, Capital reductions, and Indian Accounting Standards.
5. Business Communication-2 – Important topics covered- Barriers to effective communication, Media, and modes of communication, and sales letters.
6. Elective subjects.
7. Apart from the above-mentioned subjects, the English language subject- English-4 is also present.

5th Semester core subjects-

1. Business Environment-1 – Important topics covered- Indian and International Business Environment, Economic Indicators (Income, Savings, Investment), Unemployment, and Poverty.
2. Management Accounting-1 – Important topics covered- Introduction to Management Accounting, Fund Flow Statement, Ratio Analysis, Marginal costing, and Differential Costing.
3. Principles of Auditing-1 – Important topics covered- Introduction to Auditing, Types of Audit, Internal Audit and Control and Vouching.
4. Fundamentals of Statistics-1 – Important topics covered- Linear Correlation, Linear Regression, Probability, and Probability Distribution.
5. Financial Management-1 – Important topics covered- Introduction to Financial Management, Working of Capital Management, Management of Cash, and Management of Inventory.
6. Human Resource Management-1 – Important topics covered- Human Resource Management (Introduction), Human Resource Planning, Job Analysis, and Job Description.
7. Fundamentals of Banking– Important topics covered- Indian banking System, RBI, SBI, Commercial Banks, and Co-Operative Banks in India.
8. Elective subjects.
9. Apart from the above-mentioned subjects, English language subject- English- 5 is also present.

6th Semester core subjects-

1. Business Environment-2 – Important topics covered- Economics sectors, Indian Economy policies, and Planning in India.
2. Management Accounting-2 – Important topics covered- reporting to Management, cash flow statement, budgeting, flexible budget, and capital budgeting.
3. Principles of Auditing-2 – Important topics covered- Company Audit, Allocation of Dividends and Profits, Audit of Computerized Accounting, and Verification and testing of liabilities and Assets.
4. Fundamentals of Statistics-2 – Important topics covered- Time series analysis, Linear programming, Association of attributes, Sampling, and Index number.
5. Financial Management-2 – Important topics covered- the Financial System, Types of Assets, Capital Market and Money Market.
6. Human Resource Management-2 – Important topics covered- HR training and development, Industrial Psychology, Industrial Relations, and Solving Disputes.
7. Fundamentals of Insurance– Important topics covered- Introduction to Insurance, Principles of Insurance, Life Insurance, Fire Insurance, and Marine Insurance.
8. Elective subjects.
9. Apart from the above-mentioned subjects, the English Language subject- English-6 is also present.

So, those were some core subjects that the B. Com. program consists of. Don’t get worried about the sheer number of subjects present in each semester. A good set of them are allied subjects. You won’t need to pursue all of them, but just select a set of subjects that you will have to pursue!

Also, if you are interested in Law, you may also go for an Integrated Law course where you may select a combination of B. Com. and LLB!

Eligibility Criteria

Traditionally, Commerce stream students go for B. Com. program. But technically, any stream students may go for it after the 12th standard! One must be 12th passed (10+2 Schooling system) with minimum 50% marks from a recognized board.

B.Com Colleges in India

Many commerce colleges across India are known to offer B.Com. course. There exist two main types of B.Com. colleges in India – Government colleges and private colleges.

As the name suggests, Government colleges are managed and owned by the State or Central Government. And Government commerce colleges are known to provide subsidized education to their students. As a result, these colleges charge very low tuition fees.

On the other hand, private commerce colleges are known to charge relatively higher tuition fees. These colleges are also known as self-financing institutes.

Here are some of the popular colleges offering B.Com. course in India –

• Nirma University.
• Gujarat University.
• Delhi University.
• The University of Mumbai.
• MGU.
• KU.
• RKU.
• Hindu College.
• St Xavier’s College (Mumbai).
• Veer Narmad South Gujarat University.
• HNGU.
• PU.
• Hansraj College.
• Mithibai College.
• Aligarh Muslim University.
• Shri Ram College of Commerce.
• Lady Shri Ram College for Women.
• Christ University.

Admission process

The admission process varies from one college to another. Reputed colleges rely on merit-based admission processes. Under this system of admission, seats are distributed among deserving candidates on the basis of their performance in relevant examinations or selection interviews.

Some colleges are known to carry out a direct admission process. Under this system of admission, seats are distributed among candidates on the basis of a first come, first served rule. Some colleges are also known to carry out donation-based admission processes (under management quota).

PG Courses

B.Com. graduates have access to different types of PG courses. They have access to Master’s Degrees, PG Diploma,s and PG Certification programs. You may also check – the CA program.

M.Com. is the most popular choice among B.Com. graduates. B.Com. graduates usually apply for M.Com. admission in order to obtain advanced knowledge related to this domain. They also apply for M.Com. admission to specialize in disciplines such as – computer application, IT, banking, etc.

Apart from M.Com. they also have access to management programs such as – MBA, MMS, and PG Diploma programs. Management education too is quite popular among B.Com. graduates. After completing a Master’s Degree education, successful candidates may go for Ph.D. programs.

Advantages of pursuing a B. Com Degree

When compared to many other professional courses, B. Com. is relatively easier to pursue and takes only 3 years to complete. Then comes the availability of Colleges offering B. Com. It is one such course that is taught at Colleges across India. One will be able to find many good quality Government as well as Private Colleges offering B. Com. programs.

So, finding a good College near your location won’t be a difficult task!

Then comes the availability of specializations and new B. Com. programs. B. Com. (Honours) program allows students to specialize in a specific discipline during the final year of the program. Making use of this opportunity, students may specialize in useful disciplines like- Law, Finance, marketing, etc, and thus give their career prospects a boost!

And as I mentioned before, new courses like B. Com. in Computer Applications, E-Commerce, and Information Technology are also available. These relatively new courses are market as well as job-oriented ones.

Also, B. Com. program could act as a basic foundation, on which you may build your career. For example, after B. Com. you may go for a number of other programs like- MBA, Civil Services, Central Government jobs, Law, Chartered Accountancy, Company Secretaryship, etc.

Job Opportunities and Scope

B. Com. graduates are eligible to apply for a number of Government as well as Private sector jobs. The discipline in which one specializes also determines the type of job that one could land after graduation. The better the area of specialization, the better the salary and career prospects will be!

Managerial, Accountancy, and Auditing are some of the common job posts that B. Com. graduates may land in Private firms. Graduates will also be able to find clerical jobs in MNCs, Financial Institutions, and other Organizations. Also, after going for further studies such as MBA, Law, etc, students may build a rewarding career in those fields also!

Salary

Starting salary depends upon factors such as – your academic qualification (UG or PG), job location, the profile of the employer, your academic performance, institutes you’ve studied in, etc.

For example – in the case of a Government sector job, the salary will be based on your grade and relevant pay scale (for that grade). Similarly, if you pursue B.Com. from a premier institute, it will help you get a better job (for example – through campus placement). On average, starting salary could be anywhere between 20-60K INR per year.

Vishnu Nambiar

I am Vishnu Nambiar a career and educational blogger from India. I am also a full time educational consultant having more than 12 years of experience in the educational sector.

I share articles related to courses, colleges, careers, exam tips and more here.