What is Commerce?
Commerce is defined as the exchange of goods and services among individuals and business entities. In academics, Commerce is considered to be one of the most popular streams of education along with Science and Arts. Commerce deals with the various aspects of business, trade, accounting, financial information/transactions and merchandising. Commerce plays a significant role in the development of nations and its citizens by facilitating trade between nations or within the nation.
Table of content :
Types of Courses after Class 10
- 11th and 12th Standard
- Diploma in Engineering courses
- Other vocational courses
- ITI courses
Best Course after Class 10
Choosing the right stream after Class 10 is an important task in every student’s life. The stream that he/she chooses after 10th will play a huge role in determining his/her career path. A majority of the students in India are attracted towards these three paths of education, which are:
- Science stream
- Commerce stream
- Arts stream
As far as domains and career roles are concerned, the most popular choice from the people’s point of view is the Science and Arts stream. However, everybody misses the point that even Commerce plays a major role in every sector of Arts and Science. In today’s digital age, people now realise how Commerce has been used in every field of technology, and they have gradually started to migrate towards the Commerce field.
According to research conducted by the educational board in the year 2017, 2.67 lakh students chose Commerce as their stream of education over Science and Arts in Mumbai alone. This article is an eye-opener for everyone, which proves that choosing Commerce stream would be one of the best decisions taken by a student.
Why Commerce After 10th?
- The diversity that Commerce as a stream provides is one of the main factors that attracts many Class 10 students.
- 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.
List of Subjects for Commerce Students
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.
There are various combinations of subjects that students can choose in their Class 11 and 12. Commerce subjects covered in Class 11 and 12 are given below –
|Class 11 Commerce Subjects||Class 12 Commerce Subjects|
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 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 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 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 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.
Related Read: CBSE Commerce Syllabus for Class 11
What are the Commerce stream boards that are available in India?
There are 4 main educational boards in India. The students have the liberty to choose the board that they are comfortable with. The choice can be made according to the degree of difficulty associated with the syllabus. The educational boards’ names are mentioned below:
- CBSE – Central Board of Secondary Education
- ICSE – Indian Certificate of Secondary Education
- IB – International Baccalaureate
- State boards
International Baccalaureate is considered the most complex board amidst the above mentioned educational boards. It concentrates on the notion of ‘how to learn’. A great deal of prominence is placed on ‘knowledge application’ and ‘practical aspects’ of studying.
IB is followed by the ICSE board when it comes to the complexity level. Later comes the CBSE board, which is one of the popular boards in India. It comes under the purview of the Union Government of India. Difficulty level related to this board is average.
Finally, we come to the State Boards. Every state in India holds its own board of education. It is regulated under the respective State Governments of each state. The medium of instruction (language) in case of schools allied to state boards is the regional language of the respective state and English.
|Class 11 Accountancy Syllabus||Class 12 Accountancy Syllabus|
|Class 11 Business Studies Syllabus||Class 12 Business Studies Syllabus|
|Class 11 Economics Syllabus||Class 12 Economics Syllabus|
On a final note, focus on hard work and persistence. It is imperative you go through the previous years’ question papers, discover the important questions, analyse and comprehend the exam pattern, sample papers and more.
Also Read: CBSE Commerce Syllabus for Class 12
To get further details about Commerce, stay tuned to BYJU’S.
Frequently Asked Questions on Commerce
What are the subjects of 11th and 12th Commerce under the CBSE Board?
For both Class 11 and 12 Commerce students, the five subjects that are mandatory are – Accountancy, Business Studies, Economics, Mathematics/ Informatics Practices and English. Apart from these subjects, optional subject are Entrepreneurship and Physical Education.
Which are the best books for Accountancy Class 12?
The best books recommended to students to refer for practising Accountancy Class 12 examination are: 1) T.S Grewal 2) D.K Goel 3) Sandeep Garg 4) T.R Jain
Which topics are good for Class 12 Economics Project?
A few interesting topics for Economics project Class 12 include- Non-Performing Asset and Central Bank’s procedures to recover it, Imperfect competition and Market failure, Theories of the Long run supply curve, Central Bank’s functions with special reference to RBI, and RBI’s policies to curb inflation and appreciate currency value.
Which are some good topics for Business Studies Project Work for Class 12?
A few interesting topics for Business Studies Project Class 12 are- study of courier and postal service, a study of franchise retail store, a case study of any product, comparative study of two wholesalers and a study of a weekly bazaar in your locality, etc.
What are the optional subjects in 11th for Commerce?
A few optional subjects are Computer Science, IP, Psychology, Mathematics, other foreign languages, Physical Education, Sociology, Fine Arts and Music, etc.