career options in commerce

Career in commerce

Vimal solanki Created By

Why Commerce?• Contrary to the perception, careers in

commerce provide a high earning and a respectable job.

• Students interested in numbers and the financial aspect of life should choose commerce.

• For most part of studies, commerce requires common sense and logic instead of ‘rote learning’36

WHAT AFTER 10+2 COMMERCE ? Chartered Accountancy(CA) Company Secretary(CS) Cost Management Accountant (CMA) Chartered and Financial Activist (CFA) Actuarial Science Master of Business Administration(MBA) Banking Insurance Finance

Career in Chartered Accountancy(CA)

Chartered Accountancy

Accounting, auditing and taxation are the core areas dealt with by chartered accountants.

They are also capable of expert level services in the areas of General Management, Personnel Management, Financial Management, Operations Management, HR Management

STAGESStages in CA

CommonProficiency

TestIntegrated Professional

Competence Course (IPCC)

Final

4 subjects-2 papers 9 subjects

4 papers- group I3 papers- group II

Article ship + ITT

ApprenticeshipUnder a practicing

CA for 3 years+

100 hours of IT training

8 subjects4 papers- group I4 papers- group II

GeneralManagement

Course

CompulsoryGMC courseDuring/ after

Finals

• Academic Qualification 10+2 or equivalent as recognized by ICAI

Common Proficiency Test (CPT)

• Pass Marks- To pass/qualify at the examination a student has to obtain a minimum of 50% marks in all the papers together.

• Re attempting- Failing to get the pass mark requires the student to reappear in all the papers again.

• No Exemptions- There are no provisions for exemptions, even in conditions where the student has obtained high marks.

CPT duration is minimum 2 months. Each session is of 2 hours.

Subjects

Session IISession I

Mercantile Laws(40 Marks)

FundamentalsOf Accounting

(60 Marks)

QuantitativeAptitude

(50 Marks)

GeneralEconomics(50 Marks)

Integrated Professional Competence Course (IPCC)

• Pass Marks- Minimum of 40% in each paper and an aggregate of 50% in all the papers of both the groups together if attempting both the groups or all the papers of a single group, A student has to get through both the groups either at once or separately to be eligible to go for the next level i.e. Final.

• Exemptions- In cases where the student has obtained 60% and above in one or more papers that paper will be exempted although he was failed in that group.

Subjects in IPCC

Group IIGroup I

Law, Ethics and

Communication

AdvancedAccounting(100 Marks)

IT and StrategicDevelopment

Auditing and Assurance

(100 Marks)

InformationTechnology(50 Marks)

StrategicManagement(50 Marks)

BusinessCommunications

(20 Marks)

Business Ethics(20 Marks)

Law(60 marks)

Cost AccountingAnd FinancialManagement

Cost Accounting(50 Marks)

FinancialManagement(50 Marks)

TaxationVAT

(25 Marks)Service Tax(25 Marks)

Income Tax(50 Marks)

Final• Pass Marks- Minimum of 40% in each paper

and an aggregate of 50% in all the papers of both the groups together if attempting both the groups or all the papers of a single group, A student has to get through both the groups either at once or separately to be eligible to go for the next level i.e. Final.

• Exemptions- Exemptions- In cases where the student has obtained 60% and above in one or more papers that paper will be exempted although he was failed in that group.

• Minimum duration of Finals in 3 years.

Subjects in Finals

Group I Group II

Corporate &Allied Laws

Company Law

(70 Marks)

StrategicFinancial

Management(100 Marks)

FinancialReporting

(100 Marks)

Allied Laws(30 Marks)

AdvancedAuditing andProfessional

Ethics(100 Marks)

AdvancedManagementAccounting(100 Marks)

InformationSystemsControl &

Audit(100 Marks)

Direct TaxLaws

(100 Marks)

IndirectTax

Laws

CentralExcise

(40 Marks)

Service TaxAnd VAT

(40 Marks)

Customs(20 Marks)

• The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for the regulation of the profession of Chartered Accountants in India. • ICAI now is the second largest accounting body in the whole world • The institute has its headquarters in New Delhi. Continue……

1. Five regional offices at • Mumbai, • Chennai, • Calcutta, • Kanpur and • New Delhi

with branch offices located in almost all major cities and towns of India.

Jobs options After CA•Audit and Taxation•Project Finance/ Financial Advisory/ Mergers & Acquisitions• Investment Banking•Banking and Financial Services•Outsourcing•Academics•Corporate Sector•Recession

Carrere In Company Secretary (CS)

Company Secretary • A CS is a person who is:- 1. An expert in corporate laws, securities laws

& capital market and corporate governance. 2. Chief advisor to the board of directors on

best practices in Corporate Governance. 3. Responsible for all regulatory compliances of

company. 4. Corporate planner and strategic manager.

FoundationSubjects

Elements ofBusiness Laws

And Management

EconomicsAnd

Statistics

FinancialAccounting(100 Marks)

BusinessCommunication

(50 Marks)English

(50 Marks)Statistics

(50 Marks)Economics(50 Marks)

Elements ofBusiness

Laws(50 Marks)

Elements ofManagement(50 Marks)

English andBusiness

Communication

Stages in CS

Foundation Executive Professional

FOUNDATION• Eligibility:-• 10+2 or equivalent• Provisional admission is allowed to a candidate who has

appeared or enrolled for appearing in Senior Secondary (10+2 or equivalent) examination , provided proof of passing the examination is produced within 6 months of making the application.

• Admission- Making an application in the prescribed Form FC-1 together with documentary evidence in support of date of birth and educational qualification.

• Duration- 8 months, excluding the months of admission and the examination.

# Students are required to pass the Foundation examination within 3 years from the date of their admission

• Exemption:- • Pass in the Final examination of the ICWAI or ICAI or any

other Accountancy Institution in India or abroad recognized by the Council.

FoundationSubjects

Elements ofBusiness Laws

And Management

EconomicsAnd

Statistics

FinancialAccounting(100 Marks)

BusinessCommunication

(50 Marks)English

(50 Marks)Statistics

(50 Marks)Economics(50 Marks)

Elements ofBusiness

Laws(50 Marks)

Elements ofManagement(50 Marks)

English andBusiness

Communication

Executive Programme

Registration Period:- Five years from the month in which his

application, complete in all respects, is accepted for registration.

A registered student is required to complete the Executive and the Professional examination within the registration period

Subjects

Module IIModule I

General & Commercial Laws

Company Accounts and Cost & Management Accounting

Tax Laws

Company Law

Economic And Labour Laws

Securities Laws and Compliances

*All papers are of 100 marks*

Professional Programme Eligibility- Passing the Executive Programme

examination.

Subjects

Module IVModule II Module IIIModule I

Drafting, Appearances

&Pleadings

Company Secretarial

Practice

RestructuringAnd

Insolvency

Financial, Treasury

&Forex

Management

Advanced Tax Laws and

PracticeModule

Strategic Management,Alliances andInternational

Trade

Due Diligence

&Corporate

Compliance Management

Governance, Business

EthicsAnd

Sustainability

*All papers are of 100 marks*

Future Prospects Employment : Companies with a paid up share capital of Rs.5 crores

or more are compulsorily required to appoint a whole time Company Secretary who is a Member of ICSI

All companies seeking listing on Stock Exchange are required to appoint a whole time company secretary

Membership of the Institute is recognized for appointment to superior posts and services under Central Government.

Self-Employment After obtaining a ‘Certificate of Practice’ from the

Institute, members of the Institute can go in for Independent Practice.

• The Institute of Company Secretaries of India is constituted under an Act of Parliament i.e. the Company Secretaries Act, 1980 (Act No. 56 of 1980). ICSI is the only recognized professional body in India to develop and regulate the profession of Company Secretaries in India.

• Vision- To be a global leader in promoting Good Corporate Governance

•Mission- To develop the high caliber professionals facilitating good Corporate Governance

Role of CS• The Company Secretary is:• An in-house legal expert; a compliance officer of the Company.• An expert in corporate laws, securities laws & capital market and corporate governance• Chief advisor to the board of directors on best practices in corporate governance• Responsible for all regulatory compliances of company• Corporate planner and strategic manager

CAREER AS A COMPANY SECRETARY•Corporate Governance and Secretarial Services•Corporate Laws Advisory and Representation Services• Financial Market Services•Management Services•CS in Company •Private Practice

Carrier In Cost Management Accountant

Cost and Management Accountatnt • A cost accountant ensure that managerial decisions are

well within the cost prescriptions. He is expected to give a prognosis for projects to be undertaken based on past and present financial performances

• Eligibility- 10+2

• Duration- 6 years

Stages in CMA

Foundation Intermediate Final

Pass percentage- Minimum of 40% in each paper and an aggregate of 50% in all the papers together.

Foundation Subjects

FinancialAccounting

Fundamentals(100 Marks)


Organisation(30 Marks)

Organisation &ManagementFundamentals

Economics &Business

Fundamentals

Economics(50 Marks)

BusinessFundamentals

(50 Marks)

Basic Mathematics& Statistics

Fundamentals

Arithmetic(15 Marks)

Mensuration(30 Marks)

Algebra(25 Marks)

ElementaryStatistics

(30 Marks)

Intermediate Subjects

Applied DirectTaxation

(100 Marks)

Financial Accounting(100 Marks)

Commercial &Industrial Laws

& Auditing

Commercial &Industrial Law

(50 Marks)

Auditing(50 Marks)

Cost & ManagementAccounting(100 Marks)

AppliedIndirectTaxes

(100 Marks)

OperationManagement(50 Marks)

OperationManagement& Information

Systems

InformationSystems

(50 Marks)

Group IIGroup I

Final Subjects

Strategic TaxManagement(100 Marks)

AdvancedFinancial

ManagementAnd

International Finance

(100 Marks)

Operations &Project

ManagementAnd Control

OperationsManagement(50 Marks)

ManagementAccounting-

DecisionMaking

(100 Marks)

ManagementAccounting-

FinancialStrategy &Reporting

(100 Marks)

Cost Audit(50 Marks)

Cost andManagement

Audit

ManagementAudit

(50 Marks)

Group IVGroup III

ProjectManagement(50 Marks)

StrategicManagement

And Marketing(100 Marks)

ValuationManagement &

Case Study

ValuationsAnd


Case Study(30 Marks)

• The ICWAI came into being by "The Cost and Management Accountants Act" a special act passed by the parliament in 1959 on 28th May 1959

• It specializes in the field of Cost and Management Accountancy.

• Objective- Promoting, regulating and developing the profession of Cost Accountancy.

Career Prospects Own practice

Auditing

Maintenance of cost records

Employment in private sector as managers, internal auditor, etc.

Carrier In Chartered and Financial Anyalist (CFA)

Types Of CFA

US

Types Of CFA

INDIAN

What Is CFA• The Chartered Financial Analyst (CFA) Program is a professional credential offered by the CFA Institute (formerly the Association for Investment Management and Research, or AIMR) to investment and financial professionals.[ A candidate who successfully completes the program and meets other professional requirements is awarded the "CFA charter" and becomes a "CFA charterholder".

Requirements•Have four years (48 months) of qualified work experience (or a combination of education and work experience acceptable by the CFA Institute). However, an individual have to clear written level exams prior to satisfying this requirement;• Complete the CFA Program (mastery of the current CFA curriculum and passing three six-hour examinations);• Become a member of the CFA Institute and apply for membership to a local CFA member society;• Adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct.

Stages

Level I

Level II

Level III

SubjectsIn Level I

Chapter 6-10Chapter 1-5

Quantitative Methods

Ethics and Standards

Microeconomics and Macroeconomics

Financial Statements

Financial Ratios Assets

And Liabilities

Global Economic Analysis Red Flags

SubjectsIn Level II

Chapter 16-17Chapter 10-15

Securities Markets

Fixed Income Investments

Equity InvestmentsAlternative Investments Portfolio

Management

Derivatives

Subjects in Level III

Ethical and Professional Standards

Equity Fixed Income Derivatives Alternative

sPortfolio

Management

Mission • To lead the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society.• The Institute Of Chartered Financial Annalist for Established under a act of parliament (Under (Act No. 56 of 1980)

Job Opportunities After CFA• Portfolio Manager• Research Analyst• Chief Executive• Consultant• Corporate Financial Analyst• Financial Advisor• Relationship Managers, Sales, & Marketing• Risk Manager• Investment Banking Analyst• Manager of Managers• Accountant/Auditor• Strategist• Performance Measurement Specialist• Private Banker

Carrier in Actuarial Science

Actuarial Science An actuary is an expert in assessing the financial impacts of tomorrow’s uncertain

events. They enable more informed decisions.

Eligibility :-1. Should have completed 18 years of age

2. Should have attained anyone of the following Educational Standards- Passed 10+2 or equivalent with at least 85% in Mathematics / Statistics Graduate or Post Graduate in Mathematics/Stats/Econometrics Any Engineer / CA / CS / MBA (Finance) / MCA Fully qualified members of following Professional bodies such as :- The Institute Of Chartered Accountants of India (ICAI) The Institute of Cost and Works Accountant of India (ICWAI) The Institute of Financial Analyst of India (IFAI) The Insurance Institute of India (III) passing with subjects 81- mathematical Basis

of Insurance and 82- Statistics.

3. An application should be recommended by a member of professional body like such as ICAI, ICWAI and ICSI.

Salary- Rs.6-30 Lacs per annum

Core Technical Stage- 8 compulsory papers (CT1-CT8) with one paper of 100 marks

Core Application Stage- 2 compulsory subjects (CA 1 to CA3), CA1 consists of two papers whereas CA2 and CA3 shall have one paper each.

Specialist Technical Stage- 6 papers (ST1 to ST6) and the students have to choose any two.

Specialist Application Stage- 6 papers (SA1 to SA6) and the student has to clear any one.

Specialist ApplicationStage

Stages Of Examination

Core ApplicationStage

Specialist TechnicalStage

Core Technical Stage

Future Prospects:1.Insurance companies [be it private or public-

life or general]2.Firm of Consulting Actuaries3.Authorities like IRDA, PFRDA & TAC.4.Asset liability Management Companies5.Large banks and Investment Firms like World

Bank, ADB, etc6.Pension Banks and Employee Benefit

Companies- likely to be opened in India soon.7.Large Capital & Turnkey Project Handling

Companies8.Software Development Companies9.Actuarial BPO Companies

1. In addition to the above, employment opportunities are expected to arise in future in the offices of:

2. Insurance Intermediaries

3. Pension Providers other than insurance companies.

4. Education Institution (Providing Courses on Finance & Actuarial Science)

5. Re-insurances

• Institute of Actuaries of India (IAI) is a statutory body established under The Actuaries Act 2006 (35 of 2006) for regulation of profession of Actuaries in India.

• It is a member of the umbrella body of International Actuarial Association

Objectives1.Advancement of the Actuarial profession

in India.

2.Providing opportunities for interaction among members of the profession.

3.Facilitating research, arranging lectures on relevant subjects.

4.Providing facilities and guidance to those studying for the Actuarial exams.

Carriers In Master Of Business Administration

Entrance Exams• AIMA-MAT• CAT• XAT•MAT•GMAT• IIFT•NMAT• SNAP

Subjects In MBA•MARKETING• INTERNATIONAL FINANCE• INTENATIONAL BUSINESS• ENTREPRENEURSHIP• FINANCE

What Is Master Of Business Administration • The Master of Business Administration (MBA or M.B.A.) is a master's degree in business administration (management)

• The MBA degree originated in the United States in the late 19th century when the country industrialized and companies sought scientific approaches to management.

• The core courses in an MBA program cover various areas of business such as accounting, finance, marketing, human resources, and operations management in a manner most relevant to management analysis and strategy. Most programs also include elective courses.

Why Get an MBA Degree??The main reason to attend school is to increase Knowledge and advance career for betterment.

In most cases, an MBA degree is required for executive and senior management positions

People who hold an MBA degree will find that there are many different types of employment opportunities that are available to them.

Branches in MBAFinance

Marketing

Entrepreneurship

Accounting

Management

Real Estate

Nonprofit Continue.......

Branches in MBAHealth Care

Human Services Management

Sports Management

Economics

Organizational Management

Information Technology .

Retail Continue......

Branches in MBAAirport Management .

Management .

Information's Technology .

Entrepreneurship

Logistics & supply chain management .

Risk Management .

Tourism Continue......

Branches in MBAOperations Management Fashion TechnologyForeign TradeInternational BusinessEntrepreneurshipInformation ManagementMediaPharmaceuticalsShipping and Logistics Management

Best Collages For MBA• Indian Institute of Management (IIM)• Indian Institute For Foreign Trade (IIFT)• International Institute Of Import And Export Management (IIIEM)• International Management Institute (IMI)• Narsee Monjee Institute of Management Studies(NMIMS)• Xavier Institute Of Management• Institute of International Trade• Banaras Hindu University (BHU)• Shri Collage Of Commerce • Symbiosis International University

MBARun by Universities under AICTETraditional SyllabusTradition teaching pedagogyUniversity test score/MAT score onlyFocus on course onlyRed-tapism in the systemFMS, UPTU and other regular and deemed Universities are the players

PGDMRun by autonomous body under AICTEContemporary SyllabusModern teaching pedagogyCAT/MAT/XAT etc score & GDPIFocus on practical with courseDynamic approach in studyIndustrial interface more focusedCustomized course IIMs, XLRI, SP Jain, ISB, IMT, MDI, are the leaders And many others including Taksila Business School

MBA Vs PGDM

Is an MBA worth the cost?

• “A degree has value only if the degree is scarce, and the MBA is completely unscarce”• “People don’t hear what they don’t want to hear,” Prof.Haney says, adding that he nonetheless believes that unless you go to an elite school – by which he means one ranked in the top 15 worldwide – an MBA is a complete waste of money.

Job Options after MBA• CEO/CMD/COO• For-ex Manager• Business Analyst• Pre-Sales• ERP Consultant• Project Manager• HR Manager• Quality/Testing Manager• Management Analyst• IT Manager• Financial Manager

Carrier In Banking

Banking

Introduction Banks are institutions that take care of the

money of individuals and corporates. Banks pay interest on the deposited

money, provide loans to people for business or personal use.

They also offer a wide range of services like exchange of foreign currency, giving advise related to investment and insurance and acting as trustees.

Types Of Banks

Commercial Banks

Co-operati

ve Banks

Special Banks

Central Bank (RBI)

Nature of Work

There are various different levels at which a person can join the bank namely

Clerk Grade I officer Grade II officer Manager.

Exams In Banking Sector

IBPS PO

Positions In Banks• Financial Analyst• Bank Teller• Loan Officer• Financial Manager•General Manager• Additional General Manager•Managing Director• Clerk•Grade I officer•Grade II officer •Manager.

Selection procedure for RBI

The Reserve Bank of India is the topmost financial institution in India which makes all the policies and regulations for the other banks. It conducts tests for three types of entry level positions:

Clerical grade Grade A officers Grade B officers The entry point for clerical staff is in the cash

department as examiners of coins and notes. They are promoted to the next grade when they successfully clear the relevant examinations after 5-10 years of service.

Financial Planning: Skills and Talents

The financial planning sector is booming and offers a variety of career options.

This field deals with the largest markets of any kind in the world and call on the following skills:

Carriers In Insurance

Insurance-Introduction Presently in India, the insurance sector is open for

private as well as public Sector. Following Services are rendered these companies :

Life Insurance Corporation of India (LIC) provide for Life insurance.

General Insurance Coporation (GIC) through its 4 subsidiaries.

provides non life insurance like - Motor, Marine, Fire, Burglary, Health ,Personal Accident Insurance, Travel and Baggage Insurance etc.

Private Sector Insurance companies also provide insurance like life, health and other insurance.

Public Sector UndertakingLife Insurance Corporation Of India New India Insurance Comp.ltdNational Insurance Comp.ltdUnited India Insurance Comp.ltd

Private Sector Undertaking

Bajaj Allianz General

Insurance

HDFC ERGO General

InsuranceICICI

Lombard

Reliance General

Insurance

Kodak Mahindra OM Life

Insurance

Apollo Munich Health

Insurance

Types Of Insurance

Life Insurance

Fire Insurance

Marine Insurance

General Insurance

Carrier in Finance

FINANCE1. Financial operations and services offer a variety

of opportunities to specialists in finance.

2. MBAs specializing in finance have a multi disciplinary approach and a strong conceptual base. .

Postgraduates in finance control are trained in

1. Financial planning, 2. Decision-making and control, 3. Corporate finance, 4. Project finance and 5. Investment analysis.

Specialized Areas of Study

1. Merchant banking,2. Equity analysis and research, 3. Portfolio management, 4. Issue management,5. Treasury management,6. International finance, 7. Retail banking .

are specialized areas of study for the financial wizard.

Practically every firm needs Finance Managers Practically every firm - whether into manufacturing,

communications, finance, education, or health care - has one or more financial managers - treasurer, controller, credit manager, and others - who prepare the financial reports required, for tax and other regulatory demands.

Financial managers oversee the flow of cash and finances and develop information to access the present and future financial status of the firm. In small firms, accountants' duties usually include finance management.

However, in large firms, chief financial/accounts officers oversee all financial management departments.

In these instances, the accountants help top managers develop financial and economic policy and establish procedures, delegate authority, and oversee all financial management departments.

Pay Packages

At the entry level, finance personnel can expect approximately Rs.12,000 - 15,000 p.m.

With five years of experience, finance personnel can expect Rs.15,000 - 20,000 p.m.

Senior finance personnel, with more than 10 years of experience earn approximately Rs.20,000 to Rs.30,000 p.m.

Future Prospects1. The future prospects for finance

professionals are good in any bank or financial institution.

2. The growth and promotion opportunities are good in multinationals as well as the Indian banks (although the growth and learning opportunities in the multinational institutions are fourfold as compared to their Indian counterparts).

3. Summing up, the future is indeed bright for the finance professional.

Related areas of WorkDiversification is possible into Management

Opportunity for Professionals Students

Hiring 10,000 hire and 30,000 fresh

recruits

Will hire10,000people

Looking to hire3,500in India in

3 yrs.

Will recruit 30,000 agents and 2,000 managers

Will hire30,000-35,000 Will hire 25,000Plan to hire

10,000

Will hire10,000with in

3Yrs

Is going to hire1,000 fresh hands

Hiring 25,000new hands

PLACEMENTS after doing these courses

Thank

you