Commerce - Careers, Courses & Colleges

A number of subjects can be studied under disciplines of Commerce in conjugation like; accountancy, economics, mathematics, business, finance etc. Most commerce colleges in India offer the following subjects:

• Business economics: This would cover concepts like the laws of demand and supply, law of returns, elasticity, theory of pricing under different market forms etc.

• Financial accounting: This subject would deal with the preparation of profit and loss statements, balance sheets and final accounts of a company, knowledge of Indian and international accounting standards, calculation of depreciation and valuation of shares and goodwill of a company.

• Cost accounting: This would include process, job and contract costing, costing of overheads, standard and variance costing and budgetary control.

• Income tax: This would encompass the nature and basis of charge of income tax, tax planning, tax deduction, incomes not taxable etc.

• Auditing: This would deal with vouching, valuation and verification of transactions, assets and liabilities. It will also include studying the auditing of different organizations like clubs, hospitals and charitable concerns.

• Business finance: This would include in its scope financial analysis as a diagnostic tool, the management of working capital and its components as well as capital structure leverages.

• Business law: This subject would discuss the different laws in India relating to, among others, the Companies Act and the Consumer Protection Act.

• Marketing: This subject would deal with products, pricing methods, promotion, channels of distribution, logistics etc.