What is BCom in Accounting and Commerce: Full Form, Course Duration, Admission 2025, Colleges, Salary & Scope

B.Com in Accounting and Commerce course is a 3-year undergraduate degree that focuses upon commerce, accounting, and business administration. This prepares students for careers in finance, accounting, and other related fields. 

Accounting course as a field of education is a wide arena. Accounting courses are available as academic as well as professional programmes. Accountants are responsible for managing the finances of several small and medium-sized organisations.

Creating balance sheets, profit and loss statements, and summarising the financial situation by gathering data are some of an accountant's general responsibilities. To become an accountant, students might pursue a Master of Commerce or Master of Business Administration degree.

Students can read the points mentioned below to know the main functions of Accounting:

• Recording: The main function of accounting is to record all transactions in which the company participates. The confirmation of transactions and their records is called bookkeeping.

• Summarising: The transaction log creates raw data. Pages and pages with raw data are not very useful for organizational decision-making.

• Reporting: The management is responsible to investors for the company's condition, and owners must receive information about the activities funded by their funds on a regular basis, and therefore regularly send them reports. 

• Analysing: Finally, accounting includes analysis results; after summarizing and presenting the results in the report, meaningful conclusions must be drawn; management must know its pros and cons; accounting helps to compare; the usual practice is to compare income, cash, and sales analysis of business performance.

When deciding which type of BCom is best, it depends on your career goals and interests. A BCom General offers a broad understanding of commerce subjects, making it suitable for students looking to explore various fields like accounting, finance, marketing, and human resources.

On the other hand, a BCom with specializations (such as BCom in Accounting & Finance, BCom in Banking & Insurance, BCom in Business Analytics) focuses on specific industries, offering in-depth knowledge and better job prospects in that domain. For those aiming for professional qualifications like CA, CS, or CFA, a specialised BCom in Accounting & Finance may be ideal. Choose based on your career objectives and industry trends.

Accounting is an art of recording, classifying and summarising in a significant manner, and in terms of money, transactions and events which are in part at least, of a financial character and interpreting the result there of.

By analysing this definition you will find the objective as:

• Recording of transactions
• Analysing of transactions
• Summarising of transactions

Hi, yes you can do Accounting without any entrance exam. You can refer below the best Accounting colleges in India that accept students without any entrance exams:

Yes, Bcom Commerce and Accounting does offers electives that allows you to specialise in  areas aligned with their interests. The availability of electives varies from college to college, but some of the common ones are, Finance, Taxation, International Business,  Business Law, and, Auditing and Control. 

BCom Accounting and BCom Finance are both great degrees that can lead to successful careers in accounting and finance. However, there are some key differences between the two degrees that you should consider when making your decision.

Yes, self-study can be sufficient for IPU CET preparation if you have a disciplined approach, access to quality study materials, and are dedicated to your studies. Many students have successfully cleared the exam through self-study.

However, it is important to have a well-structured study plan, access to previous year question papers, mock tests, and reliable study materials. Additionally, seeking guidance from teachers, taking help from online resources, and solving practice questions can further enhance your preparation.

IPU CET is conducted only one time in a year for admission of the candidates. The exam is conducted for admission to various courses at Guru Govind Singh Indraprastha University. IPU CET is conducted only for some of courses that are not covered under national level entrance exams. It is recommended to check official website of GGSIPU for latest updates on IPU CET exam schedule.

Here’s a list of the main subjects taught in *BCom in Accounting and Commerce*:

• Financial Accounting
• Cost Accounting
• Corporate Accounting
• Management Accounting
• Business Economics
• Business Law

Below mentioned are the basic principal:

• Economic entity assumption
• Monetary unit assumption
• Time period assumption
• Cost principle
• Full disclosure principle
• Going concern principle
• Matching principle
• Matching principle
• Revenue recognition principle
• Materiality

Golden rules of Accounting are as follows:

• RULE 1- debit - what comes and credit - what goes (real account)
• RULE 2- debit - receiver and credit - giver(personal account)
• RULE 3- debit-expenses or losses and credit - incomes or gains(nominal account)

Some of these concepts include harmonization and convergence, foreign currency translation, and transfer pricing.

• Harmonization and Convergence: It refers to the initiatives aimed at standardizing accounting principles on a global level, thereby aligning the differences between various national accounting standards.
• Foreign Currency Translation: It deals with the aspects of accounting that result from transactions and financial statements being prepared in various currencies, in lieu of the impact of fluctuations on exchange rates on financial reporting.
• Transfer Pricing: It refers to arriving at prices for goods and services transferred between different entities of a multinational corporation subject to compliance with tax regulations and fair valuation.
• Global financial reporting standards: Learn and apply the frameworks under International Financial Reporting Standards or Generally Accepted Accounting Principles in different countries.
• Cross-border investments and mergers: Account for investments, acquisitions, and mergers where entities are based in different countries, covering the legal, financial, and reporting requirements.
• International taxation: Familiarity with tax laws and their implications across borders, particularly treaties, transfer pricing regimes, and tax optimization strategies.
• Corporate Governance: It aims to ensure transparency, accountability, and ethical practice in financial reporting and management of activities across international boundaries.

Listed below are some best BCom courses:

• B.Com in Financial Market
• B.Com in Statistics
• B.Com in Accounts Finance
• B.Com in Computer Applications
• B.Com in International Business
• B.Com in Economics
• B.Com in E-Commerce
• B.Com in Banking Insurance

In Delhi, several institutions are recognised for offering strong programs in International Accounting and related fields. 

Here are some notable colleges and universities known for their International Accounting  courses:

The table below shows the average placement package offered by top recruiters who participated in top Accounting colleges in India:

Some of the best recommended books for BCom Accounting are:

• Financial Accounting: For B.Com
• Accounting on 3rd. Revised Ed. Effective Techniques for Decision Making
• Cost Accounting: Theory & Practice, 3rd Ed.
• DU B.Com. (HONS)SEM-5: FUNDAMENTALS OF MANAGEMENT ACCOUNTING
• Corporate Accounting: Theory & Practice – 2nd Ed,

The annual salaries after completing a BCom in Accounting and Commerce in India can vary significantly depending on experience level, qualifications, job roles, and the industry. Here’s a breakdown based on different career stages:

• Entry-Level: INR 2.5 - 4.5 LPA
• Mid-Level: INR 5 - 8 LPA
• Senior-Level: INR 8 - 15 LPA

International Accounting has a wide scope and necessity in the world economy. International accounting deals with the financial reporting financial and regulatory issues of companies across different countries, ensuring uniformity, transparency, comparability of financial statements globally.
Further, international accounting gives way to global market interconnections. Because of this, a single language for financial reporting becomes indispensable across markets for making effective decisions at the level of investors, regulators, and stakeholders. International Accounting reduces financial risks through the ability to provide a reliable, consistent framework of financial reporting that improves corporate governance and promotes international trade and investment.

The average salary of a Financial Analyst in India is Rs 4.12 Lacs per annum at entry level. As one gains experience and acquires more skills in this functional area, their salary package increase multifold and can reach up to Rs 8-12 Lacs per annum. Financial analysts are professionals in the finance industry who assist businesses in making decisions about their operations based on variables such as market trends, financial performance, and anticipated transaction outcomes. Click to check Financial Planning and Analysis.

Yes, BCom students can definitely find jobs in the finance sector! A BCom degree equips students with a solid understanding of accounting, finance, and business principles, making them ideal candidates for various roles in banking, financial services, and investment firms.

Jobs like financial analyst, bank officer, investment advisor, and loan officer are common entry points for BCom graduates. With further specialisation or certifications, such as CFA or CFP, BCom students can advance into higher-paying roles like financial planning, portfolio management, or corporate finance, making the finance sector a lucrative career path.

Students can pursue several online courses in Cost Accounting. They can have a look at the table below to get an idea of the courses and their course providers:

There are several reputable online Accounting courses available in India that cater to different levels of expertise and career goals. 

Here are some of the best online Accounting courses widely recognised for their quality and relevance:

People in the accounting profession are frequently viewed as financial leaders who choose the expansion plan and productivity of the businesses they represent. Students can pursue the below-mentioned courses after their bachelor's degree:

Know 21 Best Courses after 12th for Commerce Students

Hi,

Cost accounting is the recording of the expenses incurred in manufacturing a product & conducting a business in such a manner that the expenses are analyzed & classified so as to enable the actual cost of any particular process or unit of production or service rendered to be determined with a minimum level of accuracy.

CMA (India) CMA (USA) are top Cost Accounting course.