Accounting

Yes, you are eligible for BCom in account Honours. The minimum eligibility criteria for BCom Hons programme is that the candidate must have completed their class 12 with a minimum 50% marks and Accountancy, Business Studies, Economics, Maths and English as compulsory subjects from a recognised board. Some of the popular colleges that offers BCom Honours are listed below:

1. SRCC
2. Galgotias University
3. SOL
4. Gargi College
5. Guru Nanak University  

Admission to most of the colleges offering BCom Hons is done based on merit secured in class 12. However, CUET scores are also widely accepted for granting admission at most of the colleges. Candidates are advised to the minimum eligibility and selection criteria before applying to the course. 

Fundamentally, the difference between Indian accounting and International Accounting lies in the accounting standards and regulatory frameworks considered by them.
Traditionally, Indian Accounting has followed Indian Accounting Standards that are mainly adopted from but not the same as International Financial Reporting Standards.
While Ind AS is converged with international standards, some transactions and financial elements are accounted for differently or have different disclosure requirements. International accounting, however, makes use of globally accepted standards like IFRS, therefore ensuring uniformity and comparability of financial statements across geographies.

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.

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.

First and foremost, companies, nowadays, conduct business across borders; as such, there is a need for accounting standards that would enhance comparability and uniformity in presenting financial information.
International Accounting helps businesses keep pace with the diverse regulatory environment and fosters increased transparency in financial reporting.
In addition, International Accounting deals with a range of issues that give a number of problems during foreign currency transactions, transfer pricing, and international taxation, guaranteeing appropriate financing arrangements and accurate decision-making at an international level.