Commerce, as a course of education, can be interpreted as a study of business and trade pursuits such as the exchange of goods and services from the producer to the final customer. The important subjects that are taught under the Commerce stream in Class 12 comprise Accountancy, Economics, Business Studies, Statistics, Mathematics and Informatics Practices.Accountancy (Mandatory)Business Studies (Mandatory)Economics (Mandatory)Informatics Practices/ Mathematics (Mandatory)English (Mandatory)Physical Education (Optional)
Accountancy
Accountancy is the practice of recording, allocating and outlining trade transactions for a business. It provides an assessment of management concerning the financial outcomes and ranking of an establishment. A few accountancy tasks include recording, classification and reporting of a transaction. When any information is prepared as a report for individuals or companies to be used outside the organization, the process is known as ‘financial accounting’.
Business Studies
Business Studies is a vast subject in the social sciences that allows an in-depth study of a degree of specialities. This would include Finance, Accountancy, Marketing and Organisation. It gives an individual a substantial foundation and understanding of how a business should be operated while enhancing communication, operation, strategy and commercial activity skills.
Economics
Economics can be explained in several different ways. It’s the study of shortage, the study of how people make optimum utilization of resources. It helps people to understand how an individual, companies, and governments make decisions on declared resources to satisfy desires and requirements. It also helps determine how an individual or an organization should organize and coordinate with each other to determine the expected outcome.
Informatics Practices
Informatics Practices is a stream of software-related research. The subject primarily covers software, networking concepts and coding. This field corresponds to Computer Science, while excluding the hardware concepts. It canocentrates more on networking concepts than on Computer Science.
Mathematics
Mathematics is an important part of Commerce as all the methods of economics depend on numbers. With a basic knowledge of Maths principles, an individual and an organisation will be able to understand where they position themselves financially in the present, and in the future. Most organisations use Mathematics in Inventory Management, Marketing, Accounting, Financial Analysis and Sales Forecasting.
Statistics for Economics
Many ideas in economic theory, such as functional relationship among variables, are asserted in terms of symbols, algebra, calculus, etc. To examine several economic and social phenomena events, economic theories are better understood and analysed, according to the appropriate numbers. The study of numbers, which is also known as Statistics, represents facts on the basis of a mass of figures. These statistics help in a comparison of facts.
For instance, we can consider B.Com (Bachelor of Commerce) after completing Class 12 board examinations. This 3-year undergraduate degree is like a fundamental foundation course. After its conclusion, one can pick from a wide range of Post Graduation professional courses and specialize in many other areas.
Commerce as a stream is a gateway that leads the students towards various professional courses after the completion of Class 12. Chartered Accountancy (CA), Company Secretary (CS), Cost and Management Accountant (CMA), Chartered Financial Analyst (CFA), Banking Sector, Teaching, etc., are a few popular and professionally satisfying career options for Commerce professionals.