BCom in Accounting and Commerce: Full form, Admission 2024, Fees, Syllabus, Entrance Exam, Jobs, Salary

When deciding which type of BCom is best, it depends on your career goals and interests. A BCom General offers a broad understanding of commerce subjects, making it suitable for students looking to explore various fields like accounting, finance, marketing, and human resources.

On the other hand, a BCom with specializations (such as BCom in Accounting & Finance, BCom in Banking & Insurance, BCom in Business Analytics) focuses on specific industries, offering in-depth knowledge and better job prospects in that domain. For those aiming for professional qualifications like CA, CS, or CFA, a specialised BCom in Accounting & Finance may be ideal. Choose based on your career objectives and industry trends.

BCom Accounting and BCom Finance are both great degrees that can lead to successful careers in accounting and finance. However, there are some key differences between the two degrees that you should consider when making your decision.

Accounting course as a field of education is a wide arena. Accounting courses are available as academic as well as professional programmes. Accountants are responsible for managing the finances of several small and medium-sized organisations.

Creating balance sheets, profit and loss statements, and summarising the financial situation by gathering data are some of an accountant's general responsibilities. To become an accountant, students might pursue a Master of Commerce or Master of Business Administration degree.

Hi,

Cost accounting is the recording of the expenses incurred in manufacturing a product & conducting a business in such a manner that the expenses are analyzed & classified so as to enable the actual cost of any particular process or unit of production or service rendered to be determined with a minimum level of accuracy.

CMA (India) CMA (USA) are top Cost Accounting course.

Students can read the points mentioned below to know the main functions of Accounting:

• Recording: The main function of accounting is to record all transactions in which the company participates. The confirmation of transactions and their records is called bookkeeping.

• Summarising: The transaction log creates raw data. Pages and pages with raw data are not very useful for organizational decision-making.

• Reporting: The management is responsible to investors for the company's condition, and owners must receive information about the activities funded by their funds on a regular basis, and therefore regularly send them reports. 

• Analysing: Finally, accounting includes analysis results; after summarizing and presenting the results in the report, meaningful conclusions must be drawn; management must know its pros and cons; accounting helps to compare; the usual practice is to compare income, cash, and sales analysis of business performance.

Accounting is an art of recording, classifying and summarising in a significant manner, and in terms of money, transactions and events which are in part at least, of a financial character and interpreting the result there of.

By analysing this definition you will find the objective as:

• Recording of transactions
• Analysing of transactions
• Summarising of transactions

Hi, yes you can do Accounting without any entrance exam. You can refer below the best Accounting colleges in India that accept students without any entrance exams:

The two primary steps in the admissions process at ICAI are the eligibility criteria and the registration process. ICAI offers distinct admission points according to your educational background. Let's dissect it:

• Class 10 Passed: After completing Class 10, you are eligible to sign up for the Common Proficiency Test (CPT). If you pass Class 12 and the CPT, you can enrol in the Foundation Course.
• Class 12 Passed: After passing Class 12, you can sign up for the Foundation Course right away.
• Graduate or Equivalent: If you meet certain requirements, you can enrol immediately in the Intermediate Course (IPC) after finishing your graduate studies.
• Select the point of entry: Assess your eligibility for the CPT, Foundation, or IPC programme based on your academic background.
• Sign up: Go to the ICAI eServices website, log in with an existing account, or establish one. Fill in the application, pay the fee, submit and receive confirmation.

Joining a CA college has its pros and cons in India. In the end, it's ypur personal choice determined by your priorities and circumstances. Here's a summary of each side to aid with your decision:

Being a CA does not need attending college. You can use online courses or self-study materials to independently get ready for the tests. In the end, it is up to you whether or not to enrol in a CA college or not. Choose the option that best fits your needs and goals after carefully weighing the benefits and drawbacks, taking your tastes and circumstances into account.

No, class 12th marks are not taken into consideration for CUET results. However, candidates must score minimum of 50% marks in aggregate to qualify for university admission process. Class 12th or board examination is an achievement test whereas, CUET is a selection test.

CUET UG provides a common platform and equal opprtunities to candidates across country. Candidates will be able to choose the subject for taking the CUET and each university will consider the subject scores of the candidate for admission to UG programmes. 

NTA conducts Common University Entrance Test or CUET for admission to UG courses of central, state, private or deemed universities. Untill 2022, each university had its distinct entrance exam or admission criteria for UG courses. To create fairness in admission process, CUET was introduced. It is common entrance exam for all central universities. Some of the important factors why CUET is important are:

• It gives equal opprtunities to candidates during the admission process. The pressure of immese weightage to 12th marks is reduced.
• Cutoffs will be based on CUET score/percentile ensuring fair mechanism for students.
• CUET puts an end to subjective bias. Candidates can appear for their domain subject exam and get admission on the basis of the score obtained in CUET.

The difficulty level of the CUET exam ranges from moderate to tough. Since the CUET UG exam is held for multiple subjects and slots, the difficulty level of the exam varies from subject to subject. Sometimes, the difficulty level may also vary for different slots. The difficulty level of exam is also relative and the same exam's level of difficulty may vary for different candidates. While for the well prepared candidates, the difficulty level will be low, for the underprepared students, the level of difficulty will be on the higher side. 

Yes, self-study can be sufficient for IPU CET preparation if you have a disciplined approach, access to quality study materials, and are dedicated to your studies. Many students have successfully cleared the exam through self-study.

However, it is important to have a well-structured study plan, access to previous year question papers, mock tests, and reliable study materials. Additionally, seeking guidance from teachers, taking help from online resources, and solving practice questions can further enhance your preparation.

Here are some tips to help you prepare for IPU CET:

• Make a study schedule and allocate specific time for each subject or topic.
• Set realistic goals and adhere to your plan.
• Familiarize yourself with the exam pattern, marking scheme, and syllabus of IPU CET. This will help you plan your preparation accordingly.
• Solve previous year question papers to get an idea of the exam pattern and types of questions asked. It will also help you improve your time management skills.
• Understand the basic concepts and fundamentals of each subject. Clear your doubts and seek help from teachers or mentors if needed. Regular revision is essential to retain what you have studied.
• Allocate sufficient time for revision in your study plan.

Here’s a list of the main subjects taught in *BCom in Accounting and Commerce*:

• Financial Accounting
• Cost Accounting
• Corporate Accounting
• Management Accounting
• Business Economics
• Business Law

Below mentioned are the basic principal:

• Economic entity assumption
• Monetary unit assumption
• Time period assumption
• Cost principle
• Full disclosure principle
• Going concern principle
• Matching principle
• Matching principle
• Revenue recognition principle
• Materiality

Golden rules of Accounting are as follows:

• RULE 1- debit - what comes and credit - what goes (real account)
• RULE 2- debit - receiver and credit - giver(personal account)
• RULE 3- debit-expenses or losses and credit - incomes or gains(nominal account)

Some of these concepts include harmonization and convergence, foreign currency translation, and transfer pricing.

• Harmonization and Convergence: It refers to the initiatives aimed at standardizing accounting principles on a global level, thereby aligning the differences between various national accounting standards.
• Foreign Currency Translation: It deals with the aspects of accounting that result from transactions and financial statements being prepared in various currencies, in lieu of the impact of fluctuations on exchange rates on financial reporting.
• Transfer Pricing: It refers to arriving at prices for goods and services transferred between different entities of a multinational corporation subject to compliance with tax regulations and fair valuation.
• Global financial reporting standards: Learn and apply the frameworks under International Financial Reporting Standards or Generally Accepted Accounting Principles in different countries.
• Cross-border investments and mergers: Account for investments, acquisitions, and mergers where entities are based in different countries, covering the legal, financial, and reporting requirements.
• International taxation: Familiarity with tax laws and their implications across borders, particularly treaties, transfer pricing regimes, and tax optimization strategies.
• Corporate Governance: It aims to ensure transparency, accountability, and ethical practice in financial reporting and management of activities across international boundaries.

In Delhi, several institutions are recognised for offering strong programs in International Accounting and related fields. 

Here are some notable colleges and universities known for their International Accounting  courses:

The table below shows the average placement package offered by top recruiters who participated in top Accounting colleges in India:

The annual salaries after completing a BCom in Accounting and Commerce in India can vary significantly depending on experience level, qualifications, job roles, and the industry. Here’s a breakdown based on different career stages:

• Entry-Level: INR 2.5 - 4.5 LPA
• Mid-Level: INR 5 - 8 LPA
• Senior-Level: INR 8 - 15 LPA

International Accounting has a wide scope and necessity in the world economy. International accounting deals with the financial reporting financial and regulatory issues of companies across different countries, ensuring uniformity, transparency, comparability of financial statements globally.
Further, international accounting gives way to global market interconnections. Because of this, a single language for financial reporting becomes indispensable across markets for making effective decisions at the level of investors, regulators, and stakeholders. International Accounting reduces financial risks through the ability to provide a reliable, consistent framework of financial reporting that improves corporate governance and promotes international trade and investment.

The average salary of a Financial Analyst in India is Rs 4.12 Lacs per annum at entry level. As one gains experience and acquires more skills in this functional area, their salary package increase multifold and can reach up to Rs 8-12 Lacs per annum. Financial analysts are professionals in the finance industry who assist businesses in making decisions about their operations based on variables such as market trends, financial performance, and anticipated transaction outcomes. Click to check Financial Planning and Analysis.

Yes, BCom students can definitely find jobs in the finance sector! A BCom degree equips students with a solid understanding of accounting, finance, and business principles, making them ideal candidates for various roles in banking, financial services, and investment firms.

Jobs like financial analyst, bank officer, investment advisor, and loan officer are common entry points for BCom graduates. With further specialisation or certifications, such as CFA or CFP, BCom students can advance into higher-paying roles like financial planning, portfolio management, or corporate finance, making the finance sector a lucrative career path.

Students can pursue several online courses in Cost Accounting. They can have a look at the table below to get an idea of the courses and their course providers:

There are several reputable online Accounting courses available in India that cater to different levels of expertise and career goals. 

Here are some of the best online Accounting courses widely recognised for their quality and relevance:

People in the accounting profession are frequently viewed as financial leaders who choose the expansion plan and productivity of the businesses they represent. Students can pursue the below-mentioned courses after their bachelor's degree:

Know 21 Best Courses after 12th for Commerce Students