Overview of B.Com. Honors
Bachelor’s in commerce or commonly known as B.com Honors is that course that is taken up by most of the commerce students after their 12th. Maximum colleges or universities offer this course. B.Com. Honors is generally a 3-year course but in some universities, it’s a 4-year degree course.
The Bachelor of Commerce degree (B.Com. Honors) is designed to provide a student with a wide range of managerial skills while at the same time, builds competence in a particular area of business studies. Most universities, therefore, plan the degree such that in addition to their major, students are exposed to general business principles, taking courses in accounting, finance, business management, human resources, statistics, marketing, economics, and information systems.
Why Is B.Com. (Honors) Important?
Various established business schools have strengthened their programs by requiring business students to also take introductory calculus at the undergraduate level as part of the degree program.
This course teaches you how to manage your accounts, laws related to businesses and the other day to day activities that a businessman has to go through like management, human resource, and marketing. The course is interdisciplinary in nature.
It opens up various career opportunities like CA, CS, CFA, FRM, Law, MBA etc. Because of the vastness of this subject one can get a job after attaining the bachelor’s degree in commerce but to get a better job or a better package one can do further studies as it opens up a lot of fields. If you want to work in the big4 i.e. KPMG, Delloit, E&Y, PwC then B.com honors is the apt choice. Commerce graduates get an edge over others because of existent curriculum and exposure to varied subjects.
Fields in B.Com. Honors
is divided into several fields including financial accounting, management accounting, auditing, and tax accounting. Financial accounting focuses on the reporting of an organization’s financial information, including the preparation of financial statements, to external users of the information, such as investors, regulators, and suppliers.
Management accounting focuses on the measurement, analysis and reporting of information for internal use by management. The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system.
This subject deals with the inflow and outflow of money through banks. Credit creation, bank rates, repo rates of RBI are the core areas of the study.
- Corporate Laws
This subject introduces the core doctrines of corporate law. It also introduces doctrines of partnership law, one of the foundation stones of company law. These topics will build on students’ prior studies of contract, property, tort, and agency law as well as the law of fiduciary duties.
The subject contributes to the Bachelor of Business by providing students with an introduction to the core technical and theoretical concepts of finance. It exposes students to the practical issues around optimally allocating scarce financial and non-financial resources amongst competing alternatives.
It introduces the appropriate tools, techniques, and skills to make informed financial decisions. This subject will develop technical skills relevant to making investment and financing decisions, for example, whether a business should invest in a new project or issue additional equity. These technical skills are linked to the Faculty’s graduate attribute that looks at developing business-orientated skills.
This subject is designed to provide students with an understanding of the principles of Marketing. There will be a focus on the management of the marketing activities and how marketing relates to overall organizational functioning, including the management of exchange processes between business units and consumers and between firms.
It will include topics such as environmental analysis, industry and competitor analysis, objective setting, marketing strategies, market mix components, and finally implementation and control mechanisms.
- Human Resource Management
This subject provides an introduction to the various functions of human resource management, including compensation and benefits, staffing, recruitment and selection, research, labor relations, training and development, health and safety, planning, mediation and arbitration, the influence of government legislation on industry, and human rights legislation and employment equity.
Typical Course Structure of B.Com. Honors
- Financial Accounting: It is the field of accounting concerned with the summary, analysis, and report of the financial transactions pertaining to business.
- Corporate accounting: Corporate Accounting is a special branch of accounting which deals with the accounting for companies, preparation of their final accounts and cash flow statements, analysis and interpretation of companies’ financial results and accounting for specific events like amalgamation, absorption, preparation of consolidated balance sheets.
- Taxation: It deals with the study of imposition of tax i.e a financial charge or other levy imposed upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state to fund various public expenditures.
- Cost Accounting: the recording of all the costs incurred in a business in a way that can be used to improve its management.
- Corporate law: corporate law (also “company” or “corporations”law) is the study of how shareholders, directors, employees, creditors, and other stakeholders such as consumers, the community, and the environment interact with one another.
- Business law: Commercial law, also known as business law, is the body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales.
- Business mathematics: Business mathematics is mathematics used by commercial enterprises to record and manage business operations. Commercial organizations use mathematics in accounting, inventory management, marketing, sales forecasting, and financial analysis.
- Statistics: Statistics is the study of analysis, interpretation, presentation, organization, and collection of data.
- Economics: Economics is a social science concerned with the factors that determine the production, distribution, and consumption of goods and services.
- Management: It is the art to forecast and to organize, to command, to co-ordinate and to control.
- Banking, Financial Services, and Insurance: BFSI is an industry term for companies that provide a range of such financial products/services such as universal banks. Banking includes core banking, retail, private, corporate and investment. Financial Service may include stock broking, payment gateways, mutual funds etc. Insurance covers both life and non-life.
- Human Resource Management: Human resource management (HRM or simply HR) is the management of human resources. It is a function in organizations designed to maximize employee performance in service of an employer’s strategic objectives. HR is primarily concerned with the management of people within organizations, focusing on policies and on systems.
- Marketing: Marketing is the communication between a company and the consumer audience that aims to increase the value of the company or its merchandise, or to raise the profile of the company and its products in the public mind.
- Investment Management: Investment management is the professional asset management of various securities (shares, bonds and other securities) and other assets (e.g., real estate) in order to meet specified investment goals for the benefit of the investors.
Careers After B.Com. Honors
- Masters in Commerce
- Masters in business administration (MBA)
- Chartered Accountant (CA)
- Chartered financial Analyst (CFA)
- CRISIL Certifies Analyst Program
- Company Secretary (CS)
- Financial Risk Management
- Masters in elective subject (if chosen for at least 4 semesters)
- LLB (law)
- Masters in any field of commerce.
A PhD may be obtained in any desired field.
- Opt for Civil Services exam conducted by Union Public Services Commission (UPSC). A candidate, who has completed graduation, is below 30 years in case of candidate belonging to the general category take up these exams.
Job Prospects After B.Com. Honors
Jobs directly related to the degree include:
- Accounts Assistant
- Assistant Accountant
- Business Analyst
- Cashier / Teller
- Corporate Analyst
- Market Analysts
- Marketing Manager
- Money Manager
- Operations Manager
- Personal Finance Consultant
- Risk Analyst
- Securities Analyst
- Senior Accountant
- Executive Assistant
- Finance Manager
- Financial Analysts
- Investments Analyst
- Investment Banker
- Economic Consulting Jobs
- Customs Department
- Import / Export Companies
- Various Corporate Sectors in their Marketing and Accounts Sections
- Finance, Commerce and the Banking Sectors
- Research Associates with Economic Consulting Firms
B.com. (Hons) vs B.com.
|It is an undergraduate degree designed to inculcate business acumen in students. You can also pursue courses like Chartered Accountancy along with your B.Com (honors.)||The course is similar to B.Com (H). The difference lies in the fact that you can specialize in certain subjects in B.Com (H), but the B.Com (P) course gives you an overview of all those subjects taught in the honors course.|
|You are taught in depth, about the subjects.||You are given an overview of the subjects.|
|You can specialize in subjects like Accounting or Economics.||You cannot specialize in these subjects.|
|The cut-off for various universities/ colleges is relatively higher. For eg.B.Com (H) cut off 2015-2016 admissions for Shaheed Bhagat Singh college was 96.25%||The cut-off for various universities is relatively lower. For eg. B.Com cut off 2015-2016 forShaheed Bhagat Singh college was a percentage lower – 95.25%|
|The industry demand for this course is relatively more.||The industry demand for this course is relatively less.|