Give some basic details about commerce subjects. Also give some information about a chartered accountant (CA).
Answers
ANSWER :
“Commerce changes the fate and genius of nations.”
- Thomas Gray
❒ Commerce Stream and its subjects :-
- ✎ Unlike Science and Humanities, commerce is also a stream of education where study of trade, financial information and business activities etc. is taken place. In India, commerce is one of the most popular stream that students choose after completing class 10. This stream has been designed to develop the financial literacy, business acumen as well as analytical skills.
- ✎ The principal subjects of class 11 and class 12 are : Accountancy, Business Studies, and Economics. However, there are also some optional subjects like Banking, Mathematics etc.
❒ Benefits of choosing Commerce Stream :-
- ✎ Commerce is one of the most popular stream of education. It gives the students a wide range of career options in the field of commerce; i.e., finance, business, marketing etc. Moreover, studying commerce, students get the knowledge of investment, budget, management, taxes which are also applied in day to day life. Hence, the commerce stream opens a lot of career option for students in banking sector, tax analysis sector, insurance sector, marketing sector, accounting sector, financial analysis sector etc.
❒ Different courses under Commerce Stream :-
- ✎ After completing 10+2 with commerce, there are many courses that a student can opt. One can do UG course like B. Com (General), B. Com (Honours), B. Com (Marketing), BBA, LLB, BMS, BCA, BBS etc.; PG courses like M. Com, MBA, MFC, MBE, PGDBM, PGDAS etc. Moreover, there are various professional courses like CA, CMA, CS, CFA, CPA, FRM, CPF, CIB, Data Scientist, Digital Marketing etc. Apart from this, commerce students can also apply for the Research Fellows and Lecturers in Universities and Colleges by appearing in the UGC NET Commerce Exam.
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❒ Chartered Accountancy (C.A.) :-
- ✎ Chartered Accountancy or CA is a professional course that commerce students can pursue after class 12th to become Chartered Accountants. The candidate who has completed Class 12th with minimum 50 per cent aggregate from a recognized board/ university can pursue CA. In India, to pursue this course, the candidate needs to register with the Institute of Chartered Accountants of India (ICAI). Chartered Accountancy course can be said as one of the most popular and sought-after professional course for building a great and lucrative career in commerce.
❒ Different levels, exams and subjects of Chartered Accountancy :-
- ✎ There are four levels in the course of Chartered Accountancy with an average duration of 5 years. But the course duration depends on the number of attempts a candidate takes to clear a level. The four levels are : Foundation, Intermediate, Articleship and Final. However, the exams of this course are : CPT (Common Proficiency Test), IPCC (Integrated Professional Competence Course) and FC (Final course).
- ✎ CPT exam is for those candidates who opt this course after completing class 12th. There ase four paper for the foundation level exam, i.e., CPT exam. These are : Principles & Practice of Accounting, Business Laws & Business Correspondence & Reporting, Business Mathematics & Logical Reasoning & Statistics and Business Economics & Business & Commercial Knowledge.
- ✎ However, undergraduate from commerce (B. Com) candidates can directly apply for ICPT exam. There are two groups in ICPT exam and four papers in each groups. Papers of group I are : Accounting, Corporate & other Laws, Cost & Management Accounting and Taxation. Papers of group II are : Advanced Accounting, Auditing & Assurance, Enterprise Information Systems & Strategic Management.
- ✎ In the same way, the FC exam also has two groups and four papers in each groups. Papers of group I are : Financial Reporting, Strategic Financial Management, Advanced Auditing & Professional Ethics and Corporate & Economic Laws. Papers of group II are : Strategic Cost Management & Performance Evaluation, Elective Paper, Direct Tax Laws & International Taxation and Indirect Tax Laws.
❒ Job and salary of a Chartered Accountant :-
- ✎ The designation 'Chartered Accountant' (CA) is given to those professional of accounting who have completed the Chartered Accountancy course and received certification from a statutory body; i.e., ICAI in India.
- ✎ In the field of auditing banks, firms, financial companies, stockbroking firms, legal firms, etc.; Chartered Accountants are in great demand. The starting average salary of a CA varies from Rs. 4 to 7 lakh p.a. after completing the final course. However, the salary of CAs depend on the place and company they get employed with and the work experience of them.
Answer:
ANSWER :
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“Commerce changes the fate and genius of nations.”
- Thomas Gray
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❒ Commerce Stream and its subjects :-
✎ Unlike Science and Humanities, commerce is also a stream of education where study of trade, financial information and business activities etc. is taken place. In India, commerce is one of the most popular stream that students choose after completing class 10. This stream has been designed to develop the financial literacy, business acumen as well as analytical skills.
✎ The principal subjects of class 11 and class 12 are : Accountancy, Business Studies, and Economics. However, there are also some optional subjects like Banking, Mathematics etc.
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❒ Benefits of choosing Commerce Stream :-
✎ Commerce is one of the most popular stream of education. It gives the students a wide range of career options in the field of commerce; i.e., finance, business, marketing etc. Moreover, studying commerce, students get the knowledge of investment, budget, management, taxes which are also applied in day to day life. Hence, the commerce stream opens a lot of career option for students in banking sector, tax analysis sector, insurance sector, marketing sector, accounting sector, financial analysis sector etc.
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❒ Different courses under Commerce Stream :-
✎ After completing 10+2 with commerce, there are many courses that a student can opt. One can do UG course like B. Com (General), B. Com (Honours), B. Com (Marketing), BBA, LLB, BMS, BCA, BBS etc.; PG courses like M. Com, MBA, MFC, MBE, PGDBM, PGDAS etc. Moreover, there are various professional courses like CA, CMA, CS, CFA, CPA, FRM, CPF, CIB, Data Scientist, Digital Marketing etc. Apart from this, commerce students can also apply for the Research Fellows and Lecturers in Universities and Colleges by appearing in the UGC NET Commerce Exam.
___________________________________________________________
❒ Chartered Accountancy (C.A.) :-
✎ Chartered Accountancy or CA is a professional course that commerce students can pursue after class 12th to become Chartered Accountants. The candidate who has completed Class 12th with minimum 50 per cent aggregate from a recognized board/ university can pursue CA. In India, to pursue this course, the candidate needs to register with the Institute of Chartered Accountants of India (ICAI). Chartered Accountancy course can be said as one of the most popular and sought-after professional course for building a great and lucrative career in commerce.
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❒ Different levels, exams and subjects of Chartered Accountancy :-
✎ There are four levels in the course of Chartered Accountancy with an average duration of 5 years. But the course duration depends on the number of attempts a candidate takes to clear a level. The four levels are : Foundation, Intermediate, Articleship and Final. However, the exams of this course are : CPT (Common Proficiency Test), IPCC (Integrated Professional Competence Course) and FC (Final course).
✎ CPT exam is for those candidates who opt this course after completing class 12th. There ase four paper for the foundation level exam, i.e., CPT exam. These are : Principles & Practice of Accounting, Business Laws & Business Correspondence & Reporting, Business Mathematics & Logical Reasoning & Statistics and Business Economics & Business & Commercial Knowledge.
✎ However, undergraduate from commerce (B. Com) candidates can directly apply for ICPT exam. There are two groups in ICPT exam and four papers in each groups. Papers of group I are : Accounting, Corporate & other Laws, Cost & Management Accounting and Taxation. Papers of group II are : Advanced Accounting, Auditing & Assurance, Enterprise Information Systems & Strategic Management.
✎ In the same way, the FC exam also has two groups and four papers in each groups. Papers of group I are : Financial Reporting, Strategic Financial Management, Advanced Auditing & Professional Ethics and Corporate & Economic Laws. Papers of group II are : Strategic Cost Management & Performance Evaluation, Elective Paper, Direct Tax Laws & International Taxation and Indirect Tax Laws.
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❒ Job and salary of a Chartered Accountant :-
✎ The designation 'Chartered Accountant' (CA) is given to those professional of accounting who have completed the Chartered Accountancy course and received certification from a statutory body; i.e., ICAI in India.
✎ In the field of auditing banks, firms, financial companies, stockbroking firms, legal firms, etc.; Chartered Accountants are in great demand. The starting average salary of a CA varies from Rs. 4 to 7 lakh p.a. after completing the final course. However, the salary of CAs depend on the place and company they get employed with and the work experience of them.