What is Master in Commerce?

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Masters of Commerce or Master in Commerce is an ideal graduate course for candidates who wish to pursue a career in the banking and insurance financial services (BFSI) sectors, as well as in the accounting and commerce sectors. The 2-year course delves into the workings of the economy, capital, income, commerce, taxes, etc. taught at Bachelors in Commerce. Since Master in Commerce is a specialized area in itself, only those candidates who have followed Bachelors in Commerce or Bachelors in Commerce (H) can do so. Master in Commerce is also a good option for CA / CS candidates. However, not many CA / CS aspirants follow Master in Commerce as CA / CS courses can be taken after Class 12.

Master in Commerce is most popular with aspiring professors / professors and researchers. UGC-NET / JRF and PhD are among the popular choices for Master in Commerce degree holders. Admission to Master in Commerce in the best universities is done by entrance examination. Many colleges offer admission to the course based on merit. In addition to teaching and research, Master in Commerce offers a host of career opportunities, including as an accountant, financial consultant, tax advisor, insurance manager, bank manager, investment banker, and many more. The most common option after Master in Commerce in India is to opt for Chartered Accountancy (CA) in addition to other nationally and internally acclaimed certification courses in the field of banking, finance, insurance, economics and management.

Master in Commerce covers a wide area of study and research and has many specializations to offer in addition to Master in Commerce (General) and Master in Commerce (Honors), such as:

 

Master in CommerceSpecialisations 

Master in Commerce (Taxation)

Master in Commerce (Economics)

Master in Commerce (Mathematics)

Master in Commerce (Accounting)

Master in Commerce (Accounting & Finance)

Master in Commerce (Statistics)

Master in Commerce (Banking)

Master in Commerce (Finance)

 

Master in Commerce (Banking and Finance)

Master in Commerce (Finance & Control)

Master in Commerce (Marketing)

Master in Commerce (E-Commerce)

Master in Commerce (Business Management)

Master in Commerce (Computer Application)

 

Skills required by Master in Commerce

The Master in Commerce course deals primarily with numbers, graphs, and calculations, so it is essential that an aspirant have keen analytical skills and a love of numbers. To pursue Master in Commerce and pursue a career in the related field, one must possess the following skills:

Master in Commerce Required Skillset

Logical reasoning

Ability to remember facts and figures

Strong analytical skills

Ability to handle pressure (of course as well as work)

Strength in Mathematics

Strong verbal and communication skills

Eye for detail

Leadership qualities

Knowledge of banking and finance sector

Good with computers

 

Master in Commerce Eligibility Criteria

The minimum eligibility criteria for Master in Commerce is a minimum of 50% of joint grades at Bachelors in Commerce or Bachelors in Commerce (honors) or equivalent from a recognized university. Some universities also incorporate students who have completed Economics (H), BBA, BFIA and BBE will obtain a minimum score of a minimum of 60% aggregate or equivalent. Reserved category students are entitled to relaxation marks of up to 5%. State universities also offer relaxation notes to local students.

Master in Commerce entrance exams

The following are the main entrance exams considered for Master in Commerce admissions in India:

BHU PET:

The exam is a national college-level exam conducted by Banaras Hindu University (BHU) for admission to PG courses, including Master in Commerce. Every year thousands of students sit for this exam at various exam centers in India in hopes of being admitted to this renowned and acclaimed university.

Delhi University Master in Commerce Entrance Exam:

This exam is conducted by the University of Delhi every year to admit deserving candidates to its many universities offering Master in Commerce courses. A merit list is published that mentions the cutoff of all affiliated universities and, based on the student's performance, is granted admission to the university whose cutoff is cleared.

PU CET (PG):

PU CET is a state level entrance examination conducted by Panjab University, Chandigarh for candidates seeking admission to its various PG courses and programs in different fields such as science, business, management, etc. Every year, this offline exam takes place in the month of May. and June.

Allahabad University PGAT:

It is a state level entrance examination conducted by the University of Allahabad each year to allow students to enter their different PG level courses. The exam modality is usually offline, whose application process begins in the month of March-April of each year.

CUCETTE:

This is a national-level examination regularly conducted jointly by ten central universities. Taken by the Central University of Rajasthan (CURAJ) in the month of April-May each year, this offline exam offers admission to various UG, PG, Diploma and PhD programs from participating universities and colleges.

AUCET:

It is a state-level entrance exam conducted by Andhra University, Visakhapatnam that offers admission to PG courses only. The affiliated universities are Dr BR Ambedkar University, Srikakulam, together with Andhra University. This offline exam is generally taken from May to June of each year.

SRMHCAT:

It is a common SRM admissions test conducted by SRM University to provide admissions to UG and PG level management, engineering and business courses. It's a 150-minute skills-based MCQ test, so the curriculum is the same for all courses.

How to prepare for the Master in Commerce entrance exams?

Most entrance exams have objective questions and are completely skill-based exams. The Master in Commerce entrance test basically covers the following 4 sections:

  • Logic reasoning
  • General knowledge
  • English
  • Quantitative aptitude

Some exams also include questions related to graduation in paper format. The entrance exam is generally a maximum of 100-200 points. It varies from test to test. After the entrance exams, you will be examined in the group discussion session and personal interview (or counseling). If you can complete all the required rounds, the college or university will post a merit list based on which you will be provided an admission.

Here are some steps to keep in mind when preparing for the Master in Commerce exams:

  • Prepare separate notes for each topic, such as accounting, taxes, insurance, banking, etc.
  • Stay up-to-date on current affairs for the general awareness section.
  • Practice with sample jobs and if you can get a hand of exams from previous years, it will be beneficial to you.
  • Take at least 4-6 mock tests to get comfortable with the type of questions you will face on the exam.
  • For Aptitude-based tests, your logical reasoning and quantitative ability must be sound.
  • Self-study is the most important factor in preparation, so stay focused and try well.

How to get admission to Master in Commerce at Delhi University (DU)?

  • Admission is usually done through entrance exams.
  • There are many faculties of commerce in the University of Delhi that publish their limit for admission to Master in Commerce and based on the performance in the entrance examination, and the grades obtained at the graduation level are considered for admission.
  • There may be a counseling session where you will be allowed to apply to the colleges whose cap you have approved.

How to get admission to Master in Commerce at Banaras Hindu University (BHU)?

  • Admissions to this university are fully based on performance in BHU PET 2020.
  • After the results statement, a meri list of all qualified candidates is published and notified for the counseling session.
  • The cut marks will be displayed on the official portal, which is based on the minimum grade marks posted for each course. The closing range for each course will be determined from the published cut-off list. Cuts by category will also be posted for students in reserved categories.
  • Counseling generally takes place in three steps: Preferably online entry, Activity on the day of the Counseling, and Activity the day after the Date of counseling.
  • Candidates will be selected through a list of merits. After the list of cuts and merits is declared, successful applicants will be able to download the "call letter". The online preferred registration should be submitted where the candidate can select the course of their choice, location, and seat type.
  • After all the entries, candidates will be called for the document verification process and payment of the university admission fee.

How to get admission to Master in Commerce in private universities?

  • Many of the leading private universities, such as Amity University, LPU, SRM University, KIIT, etc., are considered the best institutions for Master in Commerce programs.
  • Most of these colleges accept admission based on grades earned at graduation level, followed by a group discussion session and / or personal interview.
  • But many of them also conduct college-level aptitude-based entrance exams to allow deserving candidates to move forward with the admissions process.
  • Apart from this, each private university has its own admission criteria that must be verified before applying for the course at that university.
  • A minimum of 50-60% or equivalent is the minimum eligibility at almost all private universities.

Master in Commerce Program

At Master in Commerce, although the core courses remain the same for everyone, candidates opting for a specialization must choose from elective courses. Take a look at the Master in Commerce syllabus and the topics that are generally taught in a two-year Master in Commerce course.

Paper

Paperwise Topics in Master in Commerce Syllabus 

Theory and behavior of the organization

Theory and behavior of the organization:Classic, neoclassical and contemporary, Authority, power, status, formal and informal structure, flat and tall structures, Bureaucratization of organizations, concepts of organizational behavior, determinants, OB Models, Challenges and Opportunities

Statistical analysis

Probability and expectation: probability approaches, addition, multiplication and Bayes theorem, mathematical expectation

 

Probability distribution: binomial, Poisson, exponential, beta, and normal distributions

 

Statistical decision theory

Statistical analysis

Probability and expectation: probability approaches, addition, multiplication and Bayes theorem, mathematical expectation

 

Probability distribution: binomial, Poisson, exponential, beta, and normal distributions

 

Statistical decision theory

Economic analysis

The company and its objectives: theories of the company, management theories, behavioral approaches, growth theories, satisfaction theory, etc. Relevance of profit maximization in the modern context

 

Consumer behavior: determination of demand. Type of goods and the demand function, indifference curve analysis, indifference preference and Slushy demand analysis, revealed preference, attribute theory, snob appeal, band effect and demand function, demand function intertemporal and demand for durable goods

Financial policy and management

Financial management: nature, objectives and scope, financial decision making and types of financial decisions, role of a finance manager in a company and agency problem, risk-return framework for financial decision making

 

Capital Budgeting Decisions: Nature and Types of Capital Budgeting Decisions, Capital Budgeting Decision Evaluation Techniques, Constrained and Multi-Objective Capital Budgeting Decisions Using Mathematical Programming Models

Management accounting

Management accounting: nature and functions, financial accounting versus management accounting, cost accounting versus management accounting, role of the management accountant,

 

Cost concepts and classifications

 

Activity-based product costing: concept and uses, emerging cost approaches

 

Variable and absorption costing: concept, comparison, applications of variable costing, preparation of the income statement

Business Environment

Basic IS-LM framework, asset markets, demand and supply of real balances and interest elasticity, implications of modified IS and LM functions on the relative effectiveness of fiscal and monetary policies. Aggregate supply in the short and long term and changes in aggregate supply, aggregate demand, aggregate supply and price level, interaction of aggregate demand and aggregate supply and determination of real income, changes in aggregate demand and demand management policies

 

Exchange rate regimes, foreign exchange markets, asset options in an open economy and capital flows, trade flows, external balances, analysis of IS-LM-BOP curves and implications for political decisions

 

Expectations and economic behavior

Quantitative techniques for business decisions

Introduction: quantitative approach to management decision making

 

Linear programming

 

Transportation: problem solving, testing the optimization of the MODI method

 

Integer Programming: Formulating and Troubleshooting

Marketing management

Introduction: traditional view of marketing, evolution of the marketing concept, modern marketing concept, marketing functions and roles, marketing management process: a strategic perspective

 

Marketing environment

 

Buyer behavior

Strategic Management

Introduction: Concept and Role of Corporate Strategy, Levels of Strategy, Basic Model of Strategic Management

 

Strategic analysis: analysis of a broad environment: environmental profile, construction of scenarios

 

Strategic choice

 

Strategic implementation

Accounting theory and practice

Accounting Theory: Nature and Scope, Accounting Methodology, Different approaches to theoretical construction.

 

Conceptual framework for accounting and financial reporting

 

Problems in establishing accounting standards. Accounting standards in India. Income concepts for financial reports

International Business

International Business: Importance, Nature and Scope, Modes of Entry into International Business, Managing International Business Operations - Complexities and Issues, IT and International Business, India's Involvement in International Business

 

Theoretical foundations of international trade: motives of international trade, theories of international trade, benefits of trade, multiplier of foreign trade, terms of trade

Human Resource Management

Nature of human resource management, concepts, functions, issues and controversies

 

Human resource management, job analysis and job design

 

Business strategy and human resources strategy

 

Master in Commerce: Job Profiles and Top Recruiters

After completing Master in Commerce, a candidate can seek employment in the BFSI sector, choose to teach or give lectures, or go on research. There are several job options for Master in Commerce degree holders in the public, private and government sectors. Nationalized banks, railroads, income tax, and other similar government departments are good options for Master in Commerce title holders to pursue a safe and prosperous career.The best job profiles for Master in Commerce graduates are:

Master in Commerce Job Profiles

Accountant/Senior Accountant

Finance Manager

Finance Executive

Financial Analyst

Assistant Manager

Accounts Executive

Cashier/Teller

Cost Accountant

Chartered Accountant

Company Secretary

Bank Manager

Risk Analyst

Business Analyst

Marketing Manager

Securities Analyst

Investment Banker

Share Broker

Bank Executive

Wealth Manager

Market Analyst

Trader

Entrepreneur

Teacher

Lecturer

Researcher

Finance Consultant

Auditor

Insurance Agent

Top Master in Commerce Recruiters

Every business organization, be it an international conglomerate or an NGO, requires trade graduates in various capacities to manage its finance and accounting department. Banks and audit firms hire Master in Commerce title holders in large capacity. Top recruiters include banks, multinational companies, financial firms, and auditing agencies.

SBI

Punjab National Bank

ICICI Bank

Citibank

HDFC

Price WaterHouse Cooper

RBS

Deloitte

IndusInd Bank

KPMG

Ernest & Young

TFC

 

Master in Commerce key points

  • Duration: 2 years (full time and part time)
  • Minimum Eligibility: Bachelor's Degree (commonly Bachelors in Commerce) in a related field with a minimum of 50%.
  • Admission process: entrance examination at the university level and grades obtained at the graduation level. The admission process usually begins in the month of May-June of each year.
  • Main Master in Commerce Entrance Exams: Delhi University Master in Commerce Exam, BHU PET, Allahabad University PGAT, PU CET, CUCET, JUET, SKUCET and other relevant entrance exams.
  • Main Universities: Delhi University, Banaras Hindu University, Allahabad University, Christ University, Mumbai University, Osmania University, NMIMS, Calcutta University, Punjab University and others.
  • Distance / Correspondence / Online Education: Yes.
  • Distance education colleges: IGNOU, SOL University of Delhi, IDOL University of Mumbai, Lovely Professional University (LPU), Madurai Kamaraj University, Pondicherry University, University of Mumbai, Karnataka State Open University, Mahatma Gandhi University, etc.
  • Specializations offered: Master in Commerce Accountancy, Master in Commerce Business Management, Master in Commerce Banking & Finance, Master in Commerce Accounting & Finance, Master in Commerce Finance, Master in Commerce E-Commerce, Master in Commerce Marketing and others.
  • Popular courses after Master in Commerce: CA, CFA, CMA, ACCA, CFP, PhD, MBA, PGDM, PGPM, etc.

Important Master in Commerce FAQs

Q. What is the basic need for Master in Commerce?

A. TheMaster in commerce course is more practical in nature and along with thatthese courses are more practical in orientation. And also the value degree as well college is also important in this course.

Q. What can I do with a Master in Commerce?

A. Candidates can pursue careers in the following fields upon graduation from master in commerce with accounting, financing, commerce, economics, business studies, e-commerce, Digital marketing etc.

Q. What are the eligibility criteria for master in commerce?

A. Candidates must have passed the Class 12 exam from a recognized board with commerce as a subject and also above 60 percent in 12th as well graduation degree course.

Q. What is the scope of Master in Commerce?

A. Master in Commerce is basically in the field of business and economic field. It differs a lot from engineering courses in aspect because at BTech students are expected to learn management and information theory. But over here, every single thing will manage all the work which is done by other people under you.



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