B.Com Financial Accounting Latest Updates
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The B.Com financial accounting programme is an undergraduate course. The duration of this programme is three years. It helps students understand the core concepts of finance, commerce and accounting, students who pursued commerce as their elective in their 12th standard can opt to pursue B.Com. However, students from science and arts can also choose to pursue B.com financial accounting as their undergraduate degree.
See Also: BCom Courses
Students who graduate from B.com have career opportunities in commerce, accounting, finance, banking, and insurance. B.com is the best course for students who are willing to pursue Chartered Accounting after their undergraduate.
Once students have completed their B.Com students can apply for teaching, advertising, law, journalism, mass communication, law and design. The starting salary for B.com graduates is Rs. 3.5 Lakh.
Top Employed jobs after BCom Financial Accounting are Accountant, Auditor, Consultant, Company Secretary, Business Analyst, Tax Accountant, Stockbroker, Economist, Business Development Trainee, Finance Officer, Sales Analyst, Junior Analyst.
See Also: BCom Colleges in India
BCom Financial Accounting: Course Highlights
| Course Level | Undergraduate |
| Duration of the Course | 3 Years |
| Examination Type | Semester |
| Eligibility | 50% in 10th and 12th board exam |
| Admission Process | Entrance exam and Merit-Based |
| Course Fee | INR 10,000 to 1,00,000 |
| Average Salary | INR 2 L to 7 L per annum |
| Top Recruiting Companies | Deloitte, Capgemini, HCL, Mindtree, L&T, Accenture, Wipro, TCS, EY, KPMG, PWC, Accenture, Private Banks like Kotak, ICICI, etc., |
| Job Positions | Accountant, Auditor, Consultant, Company Secretary, Business Analyst, Tax Accountant, Stockbroker, Economist, Business Development Trainee, Finance Officer, Sales Analyst, Junior Analyst. |
BCom Financial Accounting: Eligibility Criteria
- Students who pass their board exams of 10th and +2 from any stream with more than 50% marks are eligible to apply. Some colleges may require students to have studied mathematics in their class 12th as a compulsory subject.
- 5% -10% relief for the reserved category like SC/ST/OBC students.
BCom Financial Accounting: Admission Process
BCom Financial Accounting admissions are done through entrance examination mode or direct admission through quota.
Merit based Admission
- Candidates who are willing to get admission can apply by both online and offline means.
- They can fill the entrance form official website of the institute or can directly pursue by reaching the desired institute.
- Fill the application form required and upload all the necessary documents which are asked in the form.
- After completion of the process of application, go for counselling round and attend the personal interview round to get your desired college.
Entrance Based Admission
Many colleges conduct exams for admission in the top colleges in India. Some Private institutes also conduct examinations or basically rely on the national/ state level entrance examinations.
BCom Financial Accounting: Entrance Examinations
There are various national and state-level entrance exams to appear for admission into the BCom Financial Accounting program.
- NPAT is an entrance exam conducted at the national level through online mode for admission in B. Com and many other UG courses. Candidates who have passed or appearing for their higher secondary examination are eligible.
- BHU UET is a CBT (Computer Based Test) entrance exam conducted at the university level exam. Candidates who have passed their higher secondary examination are eligible to appear for BHU UET. The candidates should have scored a minimum of 50% in commerce / maths / computer science / economics / finance / financial markets management / vocational courses. The age limit is 23 Years.
- JET is an entrance exam that is conducted in online mode for admission in B. Com in Jain University. The candidates who have an aggregate of a minimum of 45% in the 12th class from any recognized board are eligible to apply.
- Dayananda Sagar Admission Test (DSAT) is a National Level Entrance Examination for admissions in Dayananda Sagar University for various UG courses including B.Com. The entrance exam is conducted in both online and offline mode.
A common list of BCom Entrance exams 2024 is given in the table below along with their upcoming dates:
| Entrance Exam | Exam Date |
|---|---|
| NPAT | Check NPAT Dates |
| BHU UET | Check BHU UET Dates |
| JET | Check JET Dates |
| DSAT | Check DSAT Dates |
BCom Financial Accounting: Entrance Exam Preparation Tips
Here are some tips that can help students to clear the entrance exam.
- To gain admission through Entrance-based MTech college, a high UG aggregate is required. Admissions are highly competitive at the top colleges offering MTech courses.
- Cut-off lists and admission details are advertised regularly during the admissions season on the official website, they must be kept track of.
- For admission through entrance examination based colleges, the exam pattern, past papers etc. must be downloaded for practice by the aspirants.
- Preparations must be started at least one month before admissions start so that there is enough time to be well prepared.
Why study BCom Financial Accounting?
- The B.Com Financial Accounting provides a good scope of employment opportunities and job scope for B.Com graduates.
- The students who graduate from the Bachelor of Commerce in Financial Accounting enjoy an exceptionally high employment rate with the right salary package.
- The necessity of an Account Executive or a Commerce Manager to manage the financial aspects makes a graduate of B.com indispensable.
BCom Financial Accounting: Course Advantages
Students learn the following subjects in the B.Com financial accounting degree.
- Accounting Principles
- Company Laws
- Economic Policies
- Impact on Trade in Business
Students who graduate from the B.Com financial accounting degree can opt for doing their Chartered accounting degree after their undergraduate.
Companies registered under the Company Act, are required to get their accounts audited only by chartered accountants.
BCom Financial Accounting: Course Comparison
All these degrees may sound similar. But BCom in Financial Accounting and BBA are different courses. Below is mentioned the comparison of all these courses:
See also: Top BBA Colleges in India
| Feature | B. Com (Financial Accounting) | BBA Course |
|---|---|---|
| Objective | For candidates who would like to build a career in finance, taxation, and accounting. | For candidates who would like to build a career in business management and entrepreneurship. |
| Eligibility Criteria | A pass in the higher secondary exam or an equivalent exam in commerce stream with an aggregate of at least 50% | A pass in the higher secondary exam or an equivalent exam in any stream with an aggregate of at least 45% |
| Admission | Based on marks in qualifying exams and entrance exams. | Based on marks in the entrance exam and qualifying exam. |
| Subjects | Indian Tax System, Value Added Tax etc. | International Business, Information Technology, Human Resource, Insurance etc. |
| Roles Offered | Tax recruiter, revenue agents, tax policy analysts, tax examiners, etc. | Sales Executive, Research Assistant, Office Executive, etc. |
| Higher Education | M.Com, MBA, and professional courses like CA, CS, etc. | MBA |
BCom Financial Accounting: Top Colleges
Below given is a list of top colleges offering BCom Financial Accounting along with the Average fees.
| College Name | Average Fees (INR) |
|---|---|
| Shri Ram College of Commerce | INR 45,000 |
| Christ University | INR 2,45,000 |
| St. Xavier's College | INR 21,600 |
| St Joseph's College of Commerce Autonomous | INR 5,72,000 |
| Lady Shri Ram College for Women | INR 60,000 |
BCom Financial Accounting: Tips to get Best College
Below given are the tips that an aspirant must keep in mind to get admission in top colleges offering MTech Computer Integrated Manufacturing course:
- Aspirants should sort their college of preference on the basis of the topics taught in curriculum, Faculty, Placement, Fee and the Location.
- After selecting the top five colleges, they must periodically review the update on the following college's website.
- The documents listed should be noted and uploaded with the right file size and format accordingly on the official website.
BCom Financial Accounting: College Comparison
Below given is a course comparison between the top colleges offering BCom Financial Accounting courses in India. This comparison is on the basis of few parameters that are tabulated below in the table:
See More:
| Parameters | Madras Christian College | SP Jain Institute of Management & Research |
|---|---|---|
| Location | Chennai | Mumbai |
| Overview | This is one of the prestigious Financial Accounting institutes in the country and has a good placement record with an overall average of 80% placements and 95% for BCom. | It is one of the best colleges in the field of Financial Accounting in the academic world as well. |
| Average Fees | INR 1,50,000 | INR 1,20,000 |
| Average Salary Package | INR 7.8 LPA | INR 9.5 LPA |
BCom Financial Accounting: Syllabus
Below given is a semester wise breakdown of the subjects that will be studied in BCom Financial Accounting courses.
| Semester I | Semester II |
|---|---|
| Financial Accounting | Tamil I |
| Principles of Management | English II |
| Business Communication | Principles of Accountancy |
| Managerial Economics | Business Communication |
| Verbal ability | Business Economics |
| Semester III | Semester IV |
| Advanced Company Accounts –I | Advanced Company Accounts –II |
| Capital Market | Company Law |
| Corporate Accounting - I | Business Statistical and Decision Techniques |
| Marketing | Human Resource Management |
| Business Statistics - I | Business Statistics II |
| Corporate Finance | Organizational Behaviour |
| Marketing | Principles of Marketing |
| Open Elective - I | Open Elective - II |
| Quantitative Aptitude and Reasoning –II | Communication Skills |
| Semester V | Semester VI |
| Information Technology in Business | Management Accounting |
| Income Tax Law and Practice -I | Income Tax Law and Practice -II |
| Cost Accounting | Entrepreneurial Development |
| Computer Applications in Accounting | Project work and Viva voce |
| Auditing | Investment Analysis and Portfolio Management |
| Customer Relationship Management | Commerce Practical |
| Introduction to mutual fund analysis | Financial Derivatives and Risk Management |
| Practical Auditing | Development of Small Business |
| Environmental Studies | Personality development |
BCom Financial Accounting: Recommended Books
Below given is a list of important books that are a vital part of the BCom Financial Accounting curriculum. Students must have these books to understand the concepts of Financial Accounting with ease.
| Books | Author |
|---|---|
| Financial Accounting: For B.Com | S.N. Maheshwari and S.K. Maheshwari |
| Accounting on 3rd. Revised Ed. Effective Techniques for Decision Making | S. Jayapandian |
| Corporate Accounting: Theory and Practice | Nirmal Gupta |
| Cost Accounting: Theory & Practice | Nirmal Gupta, Chhavi Sharma |
BCom Financial Accounting: Job Prospects
The demand for B.Com Financial Accounting graduates is exceptionally high in entire job sectors. The Bachelor of Financial Accounting is a course that teaches students for different job profiles. Graduating with a degree of B.Com Financial Accounting makes the candidates eligible for working in various job profiles.
Below mentioned are the job profiles which are offered to BCom Financial Accounting candidates.
| Job Designations | Average Annual Salary |
|---|---|
| Accountant | INR 3 to 4 Lacs |
| Tax Accountant | INR 1 to 3 Lacs |
| Financial Officers | INR 4 to 6 Lacs |
| Stockbroker | INR 4 to 9 Lacs |
BCom Financial Accounting: Future Scope
After completing the BCom Financial Accounting course graduates can continue doing their further study and go for a PhD. It will enhance their language skills and provide more knowledge. Graduates can work in the government sector as well as the private sector.
M.Com: If a student wants to continue in the same field of education, the second program of choice is M.Com. It is a two duration course and the eligibility criteria include having a BCom Degree in related disciplines.
See Also: Top M.Com Colleges in India
PhD: If a student wants to continue their education further or wants to go into the teaching field. The first program of choice is a PhD . Duration of Ph.D is around 3-5 years.
See Also: Top PhD Colleges in India
MBA: The most popular choice after doing M.Tech is PGDM or MBA course. Many prestigious colleges or institutions provide their own entrance exams.
See Also: Top MBA Colleges in India
BCom Financial Accounting: FAQs
Ques. What is the best option after I complete my B.Com. (Financial Accounting)? Should I go for a job or pursue my higher studies?
Ques: What is the duration of the B.Com. (Financial Accounting)?
Ques. What is the average fee for the course B.Com. (Financial Accounting)?
Ques: What are the career options after completing the course B.Com. (Financial Accounting)?
Ques: Can I opt for B.Com. (Financial Accounting) in Loyola College, Chennai?
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