Offered by: School of Economics and Commerce
This program focuses on International Accounting and Finance (IAF) leading to award of B.Com. (Hons) degree which is in knowledge partnership with International Skill Development Corporation (ISDC).
The program integrates Association of Chartered Certified Accountants (ACCA) curriculum, which provides practical knowledge of International Financial Reporting Standards which enables students to make global business decisions.
Commerce is a system or an environment that affects the business prospects of economies. Commerce is the activity of buying and selling, especially on a large scale. The system includes legal, economic, political, social, cultural and technological systems that are in operation in any country or internationally. Today, commerce includes as a subset a complex system of companies that try to maximize their profits by offering products and services to the market (consisting of both individuals and other companies) at the lowest production cost. A system of international trade has helped to develop the world economy but, in combination with bilateral or multilateral agreements to lower tariffs or to achieve free trade.
Accountants play an important role in business, and use their financial knowledge to influence strategic decisions and manage performance. These individuals are invaluable to the company, and ensure the quality of a firm’s financial reporting. Using their skills and intimate understanding of the company and the environment in which it operates, professional accountants in business ask challenging questions. Their training in accounting enables them to adopt a pragmatic and objective approach to solving issues.
Management Accountant: The role also involves interpreting financial transactions and internal financial statements such as budgetary and variance reports, so some interpretation aspects of financial reporting are relevant.
The recommendation may, for instance, involve deciding whether to buy or sell a company’s stock based on its overall current and predicted strength. This is the type of work financial analysts do and they require a good understanding of finance and the wider economic environment to do so.
While some of the work is focused on finance, internal auditors are involved in all aspects of an organisation such as IT and environmental policies to making sure the correct risk controls are in place.
Internal auditors are involved with ensuring that organisations have good controls. They also analyse management and financial information for internal stakeholders such as the risk and audit committee, assuring these stakeholders that the systems and internal controls put in place are robust and effective.
Financial accountants are also responsible for disclosing, retaining and submitting the right information to external authorities. As such, financial accountants need to have a good knowledge of company law, the financial reporting standards and also IT software. A career in accounting could mean working as an accountant or auditor, or in specialized areas such as tax consulting, insolvency, corporate recovery, risk management, financial planning, forensic accounting, strategic planning and/or market analysis. Accountants work in diverse sectors including Government, private enterprise, not for profit, and so on.
Business Analyst is someone who analyzes information and investigates the goals and issues of a company. They advise organizations on how to improve their efficiency and finances. They are responsible for figuring out the actual needs of the company, not simply the stakeholder’s expressed wishes. They will communicate with a wide variety of people, such as the staff, the executives, the IT department and the customers in order to evaluate the situation fairly and define any and all issues. Quite often, the business analyst will be a facilitator and help the communication between the organization’s departments. They will then document their findings, evaluate and present their solutions.
Chief Financial Officers (CFOs) hold very senior positions in any organization. The CFO is a very important role with responsibility across most aspects of business finance, from sourcing and managing funds to performance measurement, management accounting, decision support and financial reporting. The role involves an extensive understanding of accounting and finance and has a crucial role in helping the business achieve its aims and objectives and support the business and financial strategy of the company.
Credit control managers control the process of payment for an organisation’s services or products and make sure that payments are received promptly and efficiently.
Compliance/ Governance Officer: Compliance is a crucial function for many companies particularly those operating within the financial services sector. Compliance professionals make sure that the rules and principles set by regulatory bodies and / or governments are adhered to under the guidance of the organisation’s leadership.
Financial Analyst: Business decisions sometimes require an analysis of not only the financial conditions of an organisation, but an analysis of the wider economic conditions along with sector and industry recommendations.
Payroll and / or wages employees are involved in processing the monthly / weekly payroll for salaried employees for a business. The position may be within the human resources and / or the accounts and finance departments.
3 Years (6 Semesters)
Click here to see the program structure.
Candidates who have secured 50% of marks in aggregate in 10+2 / PUC or Equivalent, with a minimum of 65% marks in English and a minimum of 65%marks either in Accountancy or Mathematics or in any other subject related to commerce.