We all are very well aware that, graduation is a very important milestone in the career. However, these days with the competition being more intense, graduation is not enough to have a flourishing career. If you are interested in commerce and finance related things, you might have done B.Com. But, only this degree will not be able to help you achieve the grand success in the field of accounting.
Competing B.Com with flying colours will not assure you growth in your finance and accounting career. You have to think about the higher education as well as career options for the better future. So, here is an overview of courses and career options you can choose after completion of B.Com.
The most common choices
There are a few common career choices that student make after completion of their graduation in commerce stream. Let’s have a look at them in detail.
- Chartered accountant (CA)- This is the most common and most popular career option that crosses the mind of every commerce graduate at least once. In fact, most of the students start preparing for CA exams while pursuing their graduation. Institute of Chartered accountants conducts the CA exams. You have to clear 3 exams, namely CPT, IPCC and Final CA exam. You can directly appear for IPCC after completion of graduation. The IPCC has two groups. Once you clear either of the groups, you have to get registered for article with experienced CA for at least two and half years. Once you clear both the groups and complete the articles with CA, you are considered eligible to appear for Final CA exam. This exam also has two groups. You need to clear both these groups, only then you will become a certified CA.
- Master of Business Administration in Finance (MBA in Finance) - Most of the commerce graduates are often advised to do MBA. However, in order to have a great career after MBA, you have to pursue the course from a well-reputed institute. MBA in finance from Indian Institute of Management (IIM) can help you reach the galore of success, but the same course from a local institute always poses a risk of you being unemployed even if you have got great scores. To enroll yourself for MBA, you have to appear for CAT exams and the scores of the exams play a vital role in deciding the institute in which you will do the course. Successful completion of this 2 years’ program from a reputed institute can provide you a good career opportunity in finance sector.
- Master of Commerce- Many of the students consider M.Com as an obvious choice after completion of B.Com. It is a two years program that concentrates on methodical study of subjects like Accounting, Business, Finance, Economics, Marketing, Statistics, Management and Taxation. You can pursue this program from any of the recognized institute and have the understanding of all these fields.
Not so common choices
Apart from the above-mentioned courses, there are a few courses which are not considered commonly by the student but can help you build a great career in accounting and finance field.
- Association of Chartered Certified Accountants (ACCA) - You might have come across any of the ACCA classes in Mumbai. ACCA is an international accountancy organization which is considered as the World’s largest accounting institute with more than 160000 members and around 428000 students across 173 countries. After achieving this qualification you can have a booming career in accounting, management, banking and consulting. This qualification makes you eligible for the senior positions. You can get ACCA training in Mumbai for the completion of which you need to clear a total of 14 papers. This qualification is very much similar to CA, but provides you the knowledge regarding IFRS and laws and UK GAAP.
- Certified Public Accounting (CPA) – The person with a CPA qualification is considered as highly proficient in accounting all over the world. The exam is conducted by the world’s largest accounting institute called the American Institute of Certified Public Accountants. It is again similar to the CA qualification, but you get the additional knowledge of US GAAP, IFRS, GAAS, Federal taxation and business laws of US. This makes it possible for you to get the opportunity for working with US based firms or firms with US clients. You have to appear for total 4 exams within a time period of less than 1 year.
These are the courses or career options you can choose after B.Com. So, make a wise choice and build a great career in the field of accounting and finance.