Why Commerce Subjects is important for Class 11th & 12th .

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Introduction Commerce

Commerce is an integral part of the total educational system and our day-to-day life. Commerce education develops the required skill, attitudes, and knowledge for the successful handling of trade and industry.

Commerce includes all those activities which create time, place, and possession utilities for individual and social ends. It has significance in the increasing industrial and commercial world.

The superstructure of commerce was built on the firm, the factual and fruitful foundation of law, education, economics, mathematics, accountancy, management, history, and sociology.

The purpose of commerce is to develop the minds of students by developing analytical power. It is considered a living discipline of education as it develops knowledge, skills, and attitude that are required for the successful handling of trade, commerce, and industry for bright prospects of the Nation Building.

What is Commerce?

The exchange of goods and services among individuals and business entities anywhere or in any place is known as Commerce. In academics, it is considered to be one of the most popular streams of education, along with Science and Arts.

It deals with the various aspects of business, trade, accounting, financial information/transactions, and merchandising, playing a significant role in the development of nations and their citizens. Commerce facilitates trade between nations or within a nation, thus contributing to economic growth and prosperity.

Best Course after Class 10th:

Choosing the right stream after Class 10 is important in every student’s life. The stream that he/she chooses after the 10th will play a huge role in determining his/her career path. A majority of the students in India are attracted to these three paths of education,

which are:

Science stream •
Commerce stream •
Arts stream

In today’s digital age, Commerce plays via tal role in every field of mankind, to progress their economic stability all over the world. People all over the world are migrated 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 very important to everyone in this world, that how Commerce helps all individuals as well as the Business and technology field in this modern era.

Why Commerce after the 10th?

Commerce as a stream provides a wide range of career options. After completing Class 12 board examinations, students can pursue a 3-year undergraduate degree in B.Com.

Post-Graduation, one can opt for professional courses such as Chartered Accountancy (CA), Company Secretary (CS), Cost and Management Accountant (CMA), Chartered Financial Analyst (CFA), and Banking Sector. Teaching is another popular and professionally satisfying career option for Commerce professionals.

What are the Commerce stream boards in India:-

There are 4 main educational boards in India. The students in India have thitherto to choose the board, in which they are comfortable. 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- in Different states in India

International Baccalaureate is considered the most complex board among the above-mentioned educational boards. It focuses 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. Later comes the CBSE board, which is one of the most popular boards in India. It comes under the purview of the Government of India.

The difficulty level related to this board is average. Finally, we come to the State Boards. Every state in India holds its board of education. It is regulated by the respective State Governments of each state of India.

The medium of instruction (language) in the case of schools allied to state boards is the regional language of the respective state and English.

Many students have questions relating to what are the subjects in commerce Class 11. How many subjects in commerce Class 11 are beneficial? How many subjects in commerce class 11 are mandatory or optional? All these questions are answered below.

The fundamental subjects taught as Commerce subjects in CBSE Class 11 and 12 are as follows:-

After completing class 11 commerce & Class 12 commerce, students can pursue a variety of professional courses through the Commerce stream.

A few popular and professionally fulfilling job alternatives for Commerce professionals include Chartered Accountancy (CA), Company Secretary (CS), Cost and Management Accountant (CMA), Chartered Financial Analyst (CFA), Banking Sector, Teaching Profession,& entrepreneurship, and so on.

What are CBSE & ISCClass 11 Commerce Subjects?

Check out the table below to know the Commerce Subjects List that is offered by CBSE schools across the country.

Name of subject Priority of subject

1. Accountancy Mandatory

2. Business Studies Mandatory

3. Economics Mandatory

4. English Mandatory

5. Entrepreneurship Optional

6. Mathematics Optional

7. Informatics Practices Optional

8. Other Language Optional

9. Computer Science Optional

10. Fine Arts Optional

The CBSE & ISC Class 12 Commerce Subjects List may be seen in the list below.

1. Accountancy (Mandatory)

2. Business Studies (Mandatory)

3. English (Mandatory)

4. Economics (Mandatory)

5. Entrepreneurship (Optional)

6. Mathematics (Optional)

7. Information Pract (Optional)

8. Physical Education (Optional)

9. Other Language (Optional)

10. Fine Arts (Optional)

1.Accountancy:-

Accountants typically use a variety of software programs to complete their tasks, including spreadsheets, databases, and accounting software.

They also use specialized techniques to assess financial performance, such as variance analysis and cost-benefit analysis. Accountants typically have a degree in accounting, finance, or a related field, and many have additional professional cecertifications

They must be familiar with the rules and regulations of their respective industries, as well as their organization’s internal policies. Accountants provide essential information for decision-making, strategic planning, and budgeting.

They are responsible for producing accurate and timely financial statements, which are used to inform shareholders, creditors, and other stakeholders of a company’s financial performance. Accountants are also responsible for ensuring that taxes are paid accurately and on time.

2.Business Studies:-

Business Studies cover a variety of topics ranging from the basics of accounting to the more advanced concepts of financial management. It also covers topics such as marketing, human resources, and communication.

Business Studies is an excellent choice for those looking to pursue a career in business or management. It equips individuals with essential skills for success in the corporate world.

The subject also helps students develop analytical and problem-solving skills, as well as an understanding of the different aspects of business operations.

Business Studies can be a great choice for anyone looking to start their own business, or for those looking to work in a corporate environment. It is a very versatile and dynamic subject that can help students gain valuable insight into the inner workings of organisation.

3. Economics:-

Economics is divided into two different categories: 1. microeconomics

2. macroeconomics. Microeconomics focuses on individual decisions, such as how the demand and supply of a particular good or service affects the economic behavior of an individual or a business.

Macroeconomics focuses on the economy as a whole, such as how an increase in the inflation rate affects the economy. Economics is a powerful tool for understanding the world around us.

It can be used to help make informed decisions about personal finance, business strategy, public policy, and more. With the help of economics, people can better understand how markets work, how to make better decisions, and how to maximize their resources.

4.InformaticsPractices:-

Informatics Practices are a part of the Information Technology field that focuses on software engineering, networking concepts, and coding. The subject is a combination of Computer Science and Information Technology, with the former focusing more on hardware concepts and the latter focusing more on networking concepts.

The scope of the field includes software design, development, and maintenance, as well as the development of algorithms and data structures for computing. In addition, the field also covers topics such as computer graphics, artificial intelligence, and computer security.

5. Mathematics:-

Inventory Management: Mathematics is used to determine the optimal amount of inventory to order, how often to order, and to track the inventory levels.

Marketing: Mathematics is used to forecast customer demand, measure the effectiveness of a marketing campaign, and to analyze customer surveys. Accounting: Mathematics is used to calculate the costs associated with running a business, such as overhead, wages, and taxes.

Financial Analysis: Mathematics is used to assess the financial health of a company, such as the ratio of debt to equity, return on investment, or the current market value of the company.

Sales Forecasting: Mathematics is used to predict the future sales of a product or service, based on past sales data. Mathematics is an essential tool for understanding and managing the finances of businesses. With a basic knowledge of Maths, individuals and o,rganizations can make more informed decisions, and increase profitability.

6. Statistics for Economics:-

Statistics can be used to explain a variety of economic and social phenomena. For example, statistics can be used to study the demand and supply of commodities, the distribution of income among people, the effects of price changes on different groups of people, the rate of economic growth, the rate of unemployment, and the movement of prices in the market.

Statistics is also used to measure the performance of different countries. By looking at the GDP per capita and other indicators, economists can compare different countries and their economic performance.

In conclusion, statistics play an important role in the study of economics and social phenomena. They can be used to measure the performance of different countries, to study the demand and supply of commodities, the effects of price changes, and to analyze a variety of economic and social phenomena.

7. English:–

English is an essential subject in the 12th CBSE Commerce curriculum, designed to improve one’s communication and language skills. The subject focuses on Reading Comprehension, Writing Skills & Grammar, and Literature & Long Reading.

8. Entrepreneurship:–

The course will cover topics such as:

Identifying and evaluating business opportunities
Understanding the environment in which the business operates
Performing a market study
Selecting the right business
Establishing the business
Identifying and avoiding potential risks
Developing the right business strategy
Understanding the key characteristics of successful businesses
Developing and executing marketing plans

What Is The Scope of Commerce in Class 11?

The commerce stream not only provides you with an opportunity to work in the corporate world but also offers you a degree in the field.

It teaches you the basics of business, finance, economics, and accountancy. The courses like B.Com, BBA, BMS, Financial Markets, and Investment Banking, etc.

It ofoffersou a wide range of career opportunities. You can also opt for higher studies like MBA, CA, CS, CMA, etc. to propel your career further or become an entrepreneur.

What are the different courses if you opt for the commerce stream in class 11?

Bachelor of Commerce (B.Com)
Bachelor of Laws (LLB)
Cost and Management Accountant (CMA)
Chartered Accountancy (CA)
Bachelor of Business Administration (BBA)
Company Secretary (CS)
Certified Financial Planner (CFP)
Bachelor of Economics
Journalism and Mass Communication

History of Commerce Education in India:-

FirstThe institution to start commerce education was Wharton School of Finance and Commerce, University of Pennsylvania, in1881.

Commerce education began in India as a vocational course in 1886, when the first commerce school was set up in Madras by the Trustees of Pachiapp’s Charities. The government of India first started a school of Commerce in Calicaut (Kerala) in 1895.

In 1993 commerce , Asociate Professor, Shree Mallikarjun College of Arts and Commerce, Delem, Canacona, Goa, India. Dr. Sucheta Y. Naik: Inclusive Growth of India: Role of Commerce Education, classes were started in Presidency College, Calcutta in India.

Then, in 1913, commerce education was started by Sydenham College of Commerce and Economics in Bombay with facilities for training in typewriting, shorthand, correspondence, and business methods for meeting the requirements of different lower cadres in business, industry, and Government departments.

Gradually accountancy and other immediately relevant business subjects were added to commerce courses. With the expansion of trade and commerce, banking, and other financial institutions, the introduction of various regulations in commercial activities, income tax, commercial taxes, labor laws, etc were introduced in India.

FAQs:-

Question1:-How many students are in the commerce stream in India?

Answer1:-A total of 40.3 lakh students is enrolled in the commerce stream.

Question2:-How many students take commerce every year in India?

Answer2:-2.73 lakh students opt for Arts, 2.67 lahks for Commerce in graduation: survey | Cities News, The Indian Express.

Question3:-Is commerce good for the future?

Answer3:-Is Commerce good for the future? Because there are several short-term professional courses available for commerce students in the fields of accounting, tally, computer accounting, stock market, financial accounting, marketing, and so on. Today, in all over the world, As a result, commerce is a very promising career path.

Question 4:- What are the opportunities in commerce education?

Answer4:- A graduate in Commerce can also opt for careers in financial services as a Financial Consultants, Stock Brokers, Merchant Bankers, Budget Consultant, Financial Portfolio Manager, Project Formulation Manager, Tax Consultants

Question 5:- What is the best option after 12 commerce?

Answer 5:- Some of the popular ones include Chartered Accountancy (CA), Company Secretary (CS), Cost and Works Accountancy (CWA), and Bachelor of Commerce (BCom). Apart from these, students can also pursue other courses like Bachelor of Business Administration (BBA), Bachelor of Economics (B.Econ), and Master of Commerce (M.Com).

Why Commerce Subjects is important for Class 11 & 12(CBSE & ICSE).

ByAJAY PATRA