SEVEN LESSER KNOWN CAREER OPTIONS FOR COMMERCE STUDENTS
Commerce course is a very good course leads a great role in the business activities which comprises of economic values such as goods, Services. In this article we will talk about seven lesser known career options for commerce students other than CA, CS.
Information, and money values, commercialization is used in the commerce.
commercialization consists of the process of transforming something into a product, service or activity.
Other than CA/CS, you could explore the following options:
- Chartered Financial Analyst
- ICWA (Cost Accountancy)
- MBA (Finance, Banking, Insurance or Marketing)
- Specialist courses in Investment Banking from School of Investment Banking, or Imarticus Learning.
- Certified Management Accountant (CMA)
- Certified Public Accounting (CPA)
- Association of Chartered Certified Accountants (ACCA)
- Business Accounting and Taxation (BAT)
- Certifications in Treasury Management.
Your final choice should depend on the kind of work that you like doing, the lifestyle that you would like to lead, and job options available for beginners.
All successful people aren’t CA or CS and in fact, all CAs or CSs are also not successful either. There is a wide range of career options available to succeed in your life. Since you have completed your graduation in Commerce, we guide you to choose a career in the field of Accounting, Finance etc. Here we listed some of the important courses after B.Com and their benefits.
Chartered Financial Analyst (CFA):
CFA Program is a professional credential offered by CFA Institute to Investment and Financial professionals. After completing and passing the CFA program one will bridge academic theory, assess current industry practice, and learn ethical and professional standards to give a strong root of real-world portfolio management and modern investment analysis skills.
The CFA charter is one of the most recognized global professional qualifications in finance.
If you’re looking for a qualification to enhance your career in finance or establish your finance credentials; CFA is highly recommended.
There are many benefits after doing CFA, but the main reason anyone goes through the program is to get paid more.
Institute of Cost and Works Accountants of India is the only statutory body of Government of India, which organizes the training program for costs and work accountants. Cost and work accountants are responsible for budgeting, cost management, performance evaluation and asset management within a company or organization. They typically collaborate as part of an executive team to create a financial plan for the organization. They may work with corporate executives or heads of companies to strategically plan for a company.
After having Certification of manufacturing account as per Customs Act and Certification under Export & Import Policy you can also start your own business in Consultancy assignments.
A degree in cost accounting equips you with the adequate knowledge to manage finance of the organization competently and ensure managerial decisions are well within the available resources.
ICWA has a wide scope, every manufacturing company needs them.
Financial Risk Management (FRM):
FRM Certification is a globally recognized professional certification for banking and finance professionals by Global Association of Risk Professionals (GARP, USA). This practical qualification includes the real issues facing organizations in the risk factors, financial services sector, banking and insurance. Financial Risk Manager Plans for potential risks which will help in the creation of a financial business strategy that seeks a constant upward trend.
Strong value addition to your skills, credentials and resume.
Successful completion of this qualification plus five years of professional experience enables you to apply for Specialist membership and use the internationally recognized membership designation SIRM (Swiss Institute of Risk Management).
Financial risk managers in the USA can earn anywhere between USD $100,000 and USD $250,000. They normally receive various fringe benefits. The average salary of FRM in India is INR 900,000.
Tax Return Preparer:
The Income Tax (IT) Department, invites the applicants for Tax Return Preparer for training the Graduates to become TRPs. The Tax Return Preparer shall prepare and furnish the return of income to the Assessing Officer or agency as may be directed by the Resource Centre.
Tax knowledge will enable you to minimize your income tax liability and potentially save thousands of dollars over your lifetime. You will also save on tax preparation fees!
Experienced tax preparers may earn $25 per hour or more and self-employed tax professionals can earn more than $100 per hour. Average salary of a Tax Preparer is $12.20 per hour.
Taking an income tax preparation course allows paid preparers and self-preparers to obtain a working knowledge of the Internal Revenue Code, ensuring that income tax returns are prepared as required by federal regulations.
Bachelor of Laws (LLB):
The Bachelor of Laws is an undergraduate degree in law originating from England and is offered in most common law jurisdictions. If you want to pursue LLB after graduation, it will take a 3 years course and with 45% in graduation. You need to clear CLAT (Common Law Admission Test) test to get admission in LLB College. LLB is a dual value course as it gives two value of Commerce and Legislature.
Careers in law exist in the capacities of law officers, legal advisers, company secretaries, and solicitors
Law jobs are very specialized and focused in the corporate segment in India
Banking and non-banking financial institutes, insurance companies, large conglomerates, multinational corporations, appoint law professionals
After completing three year LLB course, one can pursue their career as lawyers, legal consultants, oath commissioner or company secretary
If one wishes to practice law, then LLB turns out to be a good choice
If anyone wants to work in the corporate sector, Corporate Law is the best option for them
Certified Public Accountant:
A Certified Public Accountant (CPA) is the highest standard of competence in the field of Accountancy across the globe. CPA professionals are developing an edge over the CA professionals. Moreover, with international recognition shining in the armour of a CPA, the opportunities on the global level certainly help CPA professionals. By earning your CPA certificate, you can position yourself for a rewarding and sophisticated career path.
With global recognition, a CPA can always find the best place to work anywhere and a salary with at least 30 – 40% more than the other accounting professionals. [source: Chartered Club]
There is a huge requirement of an accountant professionals, such that almost every business requires the service of a CPA.
CPAs get more opportunities to travel the world and gain international business experience – and those who are multi-lingual and multi-cultural will have an advantage over those without those skills.
Association of Chartered Certified Accountant (ACCA) is the world’s leading and fastest-growing international accountancy organization. The ACCA qualification helps develop successful careers in the fields of accounting, banking, management and consulting, and is a major advantage in competing for senior roles. ACCA professionals get preferential immigration status to Australia, Canada, UK, New Zealand, Ireland etc.
ACCA has a wide network of 92 offices and more than 8,500+ Approved Employers worldwide, who provide high standards of employee learning and development.
Better employment prospect because of having shown an ability in all areas of business.
Gaining ACCA qualification is an evidence that the holder possesses skills and knowledge which are in high demand by employers in the ndustry, banking, auditing, consulting as well as other professions like taxation and law.
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