Master of Commerce (M.COM) in Computer Applications
Commerce is the exchange of goods or services among two or more parties. It is the subset of business that focuses on the sale of finished or unfinished products rather than their sourcing, manufacturing, transportation, or marketing. It began when prehistoric humans started exchanging goods and services for mutual benefit. Today, commerce commonly refers to the large-scale purchases and sales of goods and services. Selling a single item is a transaction. All transactions are collectively called commerce. E-commerce is a variation of commerce that entails selling goods and services electronically via the Internet. Generally, commerce can refer to an exchange of goods or services for money or something of equal value. From the broadest perspective, governments are tasked with managing the commerce of their nations in a way that meets the needs of their citizens by providing jobs and producing beneficial goods and services.
When properly managed, commercial activity enhances the standard of living of a nation’s citizens and increases its standing in the world. However, when commerce is allowed to run unregulated, large businesses can become too powerful and impose negative externalities on citizens for the benefit of the business owners. The idea of commerce has expanded to include electronic commerce in the 21st century. Electronic commerce, or e-commerce, is defined as any business or commercial transaction that includes the transfer of financial information over the Internet. E-commerce changed how commerce is conducted. In the past, imports and exports posed logistical hurdles for both the buyer and the seller. Only larger companies with scale in their Favor could benefit from export customers.
Why Study Commerce
Commerce is among the highly recognised educational disciplines in the Indian higher education context. The broad term of commerce includes stock markets, economic principles, finance, accounting, and non-profit flows.
Finance is the heart of any business, so it necessitates competent administration and oversight, which individuals with the right qualifications and abilities can only perform.
After completing a master’s degree in commerce graduates have various jobs like operation manager, finance consultant, investment banker, marketing manager, accountant, and business analyst. The salary offered in different professions varies from sector to sector depending upon the skills, qualifications, experience, and other specific demands of the recruiters.
New Job opportunities: The M.Com course will provide improved job opportunities in the future. For example, the investment sector in India is expected to grow up to USD 1 trillion dollars by 2025, thus providing employment opportunities for the M.Com graduates. Similarly, the investment banking sector in India is expected to grow from USD 102.84 billion in 2020, to 111.45 billion dollars in 2021 at a CAGR of 8.4 %, and would reach USD 137.97 Billion dollars by 2025. The Banking and Financial Service Industry (BFSI) which hires M. Com graduates is expected to generate over 8 million jobs in the next 8-10 years.
Robust Salary:
The M. Com candidates are absorbed in different positions such as Account assistant, cost accountants, investment bankers, etc. The average M.Com salary in India is INR INR 372,913 per annum, whereas the average fee ranges between INR 5000-INR 140,000. Hence, the candidates are able to recoup their investment easily. M.Com graduates have job opportunities in almost every sector of the economy. Some of the top recruiters of MCom graduates are Capgemini, Dell, Infosys and others. Moreover, there is no age bar to pursue an M.Com degree.
A safety net:
Most of the M. Com candidates pursue other professional courses such as Chartered Accountant (CA), Company Secretary or CFA. The reason is that these professional courses are tougher to pass. For example, only 6% of the total candidates have passed both the group of CA exams. And the passing percentage of the CFA course is between 42-54 %. So, if anything goes wrong the candidates would have something to fall back on.
A stepping stone: Most of the candidates who wish to take up teaching as a profession, especially in the commerce section, are heavily inclined in taking up a M. Com specialization in their post graduate level exam. The M. Com course is necessary for taking up the PhD programs in the future and serves as a preparatory course.
Development of Managerial Skills: The M. Com Syllabus includes different subjects related to management of the organisation and its people. The M.Com syllabus is curated in such a way that the candidates equipped with skills to handle the finance, growth of company, create strategies to tide over difficult situation
M.Com Specialization: The M. Com course offers a large number of specialisations that includes streams such as Finance, Accounting and Finance, Marketing, Computer application, financial management, business management, etc. The different specialization improves the job prospect.
It allows the candidates to build up their networks with different batch mates as well as seniors, professors and alumni. The main idea behind networking is the creation of references for future jobs.
M.Com qualification allows candidates to appear for competitive exams like civil services exam or exam related to finance and accounting requirements like income tax, CAG or excise departments.
Programming Jobs:
The growth in the use of smart phones and fintech sectors allows M. Com graduates with programming skills to work in these industries. A commerce graduate with excellent software skills are regular absorbed into fintech design and mobile banking companies.
Master of Commerce
RAAK Arts and Science College is offering Master of Commerce (M Com) with focus on Computer Applications which is a two-year postgraduate degree Program focussed on commerce. The curriculum followed by the college is as per the Annamalai University, Annamalai Nagar, Chidambaram syllabus.
The program is generally focused on different disciplines like accounting, business management, corporate governance, human resource management, economics, statistics, finance, marketing or supply chain management. The curriculum includes 5 subjects, Database Management Accounting, Marketing Management, Object-Oriented Programming with C++, E-Commerce, Cost and Management Accounting. This allows the students an opportunity to apply programming skills to e-commerce and fintech industry.
Curriculum Focus:
| Strategic Financial Management | Commerce |
| Managerial Economics | Visual Basic |
| Advanced Business Statistics | Goods and Service Tax |
| Data Base Management System | Research Methodology |
| Accounting for Managers | Internet and its Applications |
| Income Tax Law and Practice | V.B Script and HTML |
| Security Analysis and Portfolio Management | Information Technology and its Applications |
Career Pathways:
| Corporate Secretary | Digital marketing |
| Investment banker | Enroll in MBA |
| Tax advisor | Financial planner |
| Accountant | Stockbroker |
| Chartered accountant | Academia and research |
| Business Analyst | CFP exam |
| CMA | FRM |
| Financial Analyst | Get a CPA license |
| Insurance | Chief Financial Officer |
| ACCA | CIB certification |
| Auditor | CMA credential |
| CFA | Finance |