What are some key skills for a B.Com fresher?

B.Com or Bachelor of Commerce is one of the most prevalent undergraduate degrees in the country after engineering and medical. Students from the commerce background prefer B.Com, as it provides a wide variety of avenues. It is the building block for higher courses and programmes in finance, management, business and accounts. 

All you need to know about B.Com 

B.Com is an undergraduate degree which is a three-year programme. The topics covered under this degree are accounts, taxation, management and business. There are generally two types of B.Com programmes run by the universities in India – General B.Com and B.Com Honours programme. The major difference between them is that honours provide specialisation in the chosen field, whereas general B.Com provides an overview of all the areas of commerce. For example, B.Com Honours in Accounts & Finance will be more focused on the subjects like accounting, taxation, audit etc.

B.Com degree is like a base, a foundation on which a graduate can advance further studies in different disciplines as per their choice. Let’s know a bit more about the B.Com degree programme.

Duration: 

It is a 3-year undergraduate programme

What are the eligibility criteria to be admitted to B.Com?

A student with a commerce background who has passed class XII in commerce stream or any other streams from a recognised board can apply for the programme

Entrance:

Different universities and colleges have different admission criteria. Admission is provided in both ways, either on a merit basis or based on the entrance exam

Mode:

One can pursue B.Com either in offline or online mode as per their convenience

Average fees:

The fees of B.Com vary from INR 80,000 to ₹5,00,000 depending on the institution, specialisations, and mode

Career options after B.Com:

After B.com, a vast range of career options opens for the students. 

• One can choose to pursue a Master of Business Administration (MBA). They can choose an MBA in finance, marketing or human resource as per their interest 
• One can even choose to do a master’s degree, that is, M.Com, after completing their B.Com degree programme 
• B.Com graduates can also opt for professional courses like Chartered Accountancy, Company Secretary, and Cost Accountancy 
• If you are looking forward to starting a career in investment banking, then Chartered Financial Analyst (CFA) is the ideal career option for you 
• B.Com graduates can also opt for Financial Risk Management (FRM) which will provide specialisation to individuals interested in risk assessment and managing risk               

Primary recruiting industries:

B.Com graduates are in huge demand in banking, insurance, accounting, and tax consultancies. 

Average salary of a B.com graduate:

The average salary of a B.Com graduate varies depending on factors like experience, industry skills and knowledge. Generally, they receive an average wage between INR 2,50,000 to INR 5,00,000.

Top recruiting companies are:

Kotak Life, ICICI, SBI, LIC, KPMG, Deloitte, PWC, United Insurance etc.

READ MORE: Guide to B.Com course details: All you need to know

Skills you will learn in a B.Com programme 

B.Com is a very versatile and dynamic degree. It imparts knowledge about various topics like business management, marketing, taxation, risk management, etc. Apart from the core knowledge, B.Com develops job-oriented skills. It is an excellent way to learn the best skills. These skills are helpful in interviews and in managing the work. The technical skills of B.com students are essential to outperform in the industry.

Key skills for B.Com students 

• Analytical skills: Analytical skills provide the ability to study, analyse and interpret data. As part of their job, a commerce graduate will be required to review the finances of a company. They would be required to study, critically analyse the data, and prepare reports. These reports will be used by the management for decision-making and taking corrective actions. A B.Com programme will help develop analytical skills in the students.

• Innovation skills: Innovation is the future. Companies are looking for candidates who are fresh in their ideas and opinions. People who can innovatively solve a problem, make suggestions for developing a product or contribute to the business process are in demand. B.Com provides knowledge about economics management, finance and accounts, thus giving a very large turf and scope for innovations. 

• Financial Analysis: The roles like Investment Banker, Portfolio Manager, Asset Manager or corporate finance essentially need financial analysis skills. B.Com will impart training and provide statistical skills that are a must for financial analysis. Moreover, the program is designed to provide knowledge about the derivative market, equity market, portfolio management etc.

• Problem-solving: It is a skill of arriving at a solution that is cost-efficient and provides benefit to the organisations. Every commerce graduate will encounter difficulties and dilemmas in their work, and the person who can find solutions to a problem will have an edge. 

• Numeracy skills: it is a crucial skill for a commerce graduate. The jobs in banking, taxation and data management are primarily based on the quantitative aptitude of the person. Few recruiters conduct aptitude tests to assess the numeracy skill of the candidate. The B.Com programme is designed to hone the aptitude skill of the students.

• Accounting skills: accounting is the maintenance of the books of accounts of an organisation. It is required by every organisation irrespective of the nature of business. A large number of jobs are available for the person who has accounting skills. Accounting skills primarily are knowing the principles and rules of accounting and proper record keeping. B.Com has accounting as one of the core subjects and develops appropriate accounting skills in the students.

• Communication skills: It is not only an essential skill for commerce graduates; it is required in almost all jobs. A good communicator will be able to create a balanced relationship among different roles. He would be able to communicate well with the organisation’s vendors or sellers. He would be able to close profitable deals for the company. B.Com specially develops interpersonal skills and communication skills among its students. 

• Leadership skills: Individuals need to interact continuously and work as a part of a team, and sometimes they lead the team. A leader must be patient, encouraging, innovative, skilful, optimistic and possess excellent team management skills. 

• Knowledge about taxes: Apart from accounting, another core subject of B.Com is Taxation. Taxation is yet another field that has enormous scope. A person knowing direct and indirect tax is quite in demand by the corporate houses. Tax consultants are required to calculate taxes and, by using the law, find ways for proper tax management of the organisations and clients. 

• Skill in the spreadsheet: Software like MS Excel and google sheets has changed the way work used to be done. Corporates and organisations widely use them for managing business operations. A B.Com holder will do tasks like accounting, data analysis, management, tracking cost and budgeting. All these work domains use spreadsheets. Spreadsheets help in managing massive data that otherwise will be complicated to handle.

What do you learn in a B.Com programme?

B.Com programme offers knowledge on versatile topics. Let’s have a glimpse at the subjects covered under the B.Com programme for better understanding:

• Accounts: It is part of almost all the semesters of the course. It includes financial, cost, management, and corporate accounting. It teaches from the basics of record keeping to preparing reports that the administration will require. 
• Taxation: Taxation is part of the second and final year of the programme. It is the study of the nation’s tax laws and tax rules. There are two types of tax – direct tax, which is income tax, and another one is indirect tax. The candidates will learn to compute the tax of various entities and how to do tax planning and management for the organisations. 
• Laws: Although B.Com is not a law-based study, it has mercantile laws as one of its subjects. It teaches students the contract act, sale of goods act, essentials of companies act, labour laws etc. These laws are necessary for the proper management of the business and to maintain adequate compliance with the legal requirements of the organisations.
• Banking & Insurance: This subject’s motive is to impart knowledge about the banking and insurance system of the country. It does not only include record-keeping but states the functioning and structure of the banking laws and insurance laws. 
• Marketing Management: Marketing is another core subject. A person interested in marketing can do an MBA in marketing for better opportunities. This subject helps in developing skills for market analysis and devising marketing strategies according to it.

Be an in-demand B.Com graduate from Online Manipal

Take hassle-free admission to one of the best online universities. Let’s take a leap with the technology and join online B.Com at Manipal University Jaipur. Complete your graduation at your convenience and pace. Join live classes or view recorded classes from the comfort of your home. 

The curriculum is designed by highly qualified and experienced instructors. The course will hone your skill and make you ready for the future. The university is recognised and accredited by UGC, NAAC A+ graded, the association of commonwealth, world education association and many more. 

The Fee of B.com is ₹80,000, which is ₹13,333 per semester. The university provides easy payment options, financing options like zero-cost EMI and scholarships. Check out more at Online Manipal.

Conclusion 

B.Com is the most sought-after undergraduate degree. Mainly because of the vast knowledge and skill base it provides and the overall development for the students. With the changing scenarios, there will be more opportunities for the B.Com grads. A commerce graduate can make a career in accountancy and consultancy and hold top managerial positions.