Commerce for 11th & 12th Standard Students | Complete Guide & Resources
What is Commerce?
The exchange of products and services between individuals and business entities is the definition of commerce. Commerce, in addition to Science and the Arts, is regarded as one of the most prevalent educational disciplines in academia. Business, trade, accountancy, financial information/transactions, and merchandising are all aspects of commerce. By facilitating trade between nations or within the nation, commerce plays a significant role in the development of nations and their citizens.
Types of Courses after Class 10
- 11th and 12th Standard
- Diploma in Engineering courses
- Other vocational courses
- ITI courses
Best Course after Class 10
Selecting the appropriate academic pathway after completing Class 10 is a crucial undertaking in the life of any student. The choice of academic stream after completing 10th grade will significantly influence the trajectory of his/her career. The bulk of students in India are drawn towards three educational courses, namely:
- Stream of study focused on scientific subjects.
- Stream of study focused on business and trade (Commerce)
- Humanities stream (Arts)
From the perspective of the general population, the Science and Arts stream is the most favored choice in terms of domains and job roles. Nevertheless, it is sometimes overlooked that Commerce significantly influences every aspect of both the Arts and Science fields. In the current era of technology, individuals have become aware of the extensive usage of Commerce in various fields and are progressively shifting towards pursuing careers in Commerce.
In 2017, data performed by the educational board revealed that in Mumbai alone, 267,000 students opted for Commerce as their educational track, surpassing the number of students who picked Science and Arts. This essay serves as a revelation for all individuals, providing evidence that selecting the Commerce stream is a highly advantageous selection for students.
Why Commerce After 10th?
The wide range of opportunities offered by the field of Commerce is a significant draw for numerous Class 10 pupils.
For example, one option to consider after finishing Class 12 board examinations is pursuing a B.Com (Bachelor of Commerce) degree. This 3-year undergraduate degree serves as a fundamental and foundational course. Upon completion, individuals have the opportunity to choose from a diverse selection of advanced professional courses for post-graduation and specialize in many fields.
Commerce, as an academic field, serves as a pathway for students to pursue numerous professional courses upon completing Class 12. Chartered Accountancy (CA), Company Secretary (CS), Cost and Management Accountant (CMA), Chartered Financial Analyst (CFA), Banking Sector, and Teaching are some popular and fulfilling job choices for individuals in the field of Commerce.
List of Subjects for Commerce Students
The Dual Aspect Concept is a cornerstone of modern accounting, ensuring that every transaction is accurately recorded in at least two accounts. This principle helps maintain the balance of the accounting equation and provides a reliable, transparent view of a company’s financial position. Adopting this concept allows businesses to maintain precise records, crucial for financial analysis, reporting, and decision-making.
Class 11 Commerce Subjects | Class 12 Commerce Subjects |
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Accountancy
Accountancy is the process of systematically documenting, assigning, and summarizing commercial transactions for a company. It evaluates the performance of management in terms of the financial results and position of a business. Several accountancy duties encompass the process of recording, classifying, and reporting transactions. Financial accounting refers to the process of preparing information in the form of a report for individuals or corporations to be used outside of the organization.
Business Studies
Business Studies is a broad field within the social sciences that enables a comprehensive exploration of several areas of expertise. These fields encompass Finance, Accountancy, Marketing, and Organisation. It provides individuals with a solid foundation and comprehension of how to run a business, while improving their communication, operational, strategic, and commercial skills.
Economics
Economics can be elucidated through various approaches. Economics is the discipline that examines scarcity and how individuals maximize the efficient allocation of resources. Economics aids in comprehending how individuals, companies, and governments allocate resources to fulfill wants and needs. It also aids in establishing the appropriate structure and coordination amongst individuals or organizations to achieve the desired result.
Informatics Practices
Informatics Practices is a field of study that focuses on research connected to software. The course generally encompasses software, networking ideas, and coding. This field pertains to the study of Computer Science, namely focusing on software and omitting hardware principles. It places a greater emphasis on networking principles rather than on Computer Science.
Mathematics
Mathematics plays a crucial role in Commerce as all the techniques of economics rely on numerical calculations. Having a fundamental understanding of mathematical principles enables both individuals and organizations to accurately assess their current and future financial standing. Mathematics is commonly employed in various areas of organizational operations, such as inventory management, marketing, accounting, financial analysis, and sales forecasting.
Statistics for Economics
Many ideas in economic theory, such as functional relationship among variables, are asserted in terms of symbols, algebra, calculus, etc. To examine several economic and social phenomena events, economic theories are better understood and analysed, according to the appropriate numbers. The study of numbers, which is also known as Statistics, represents facts on the basis of a mass of figures. These statistics help in a comparison of facts.
What are the Commerce stream boards that are available in India?
India has four primary educational boards. The kids have the autonomy to select the board that they feel at ease with. The selection might be based on the level of complexity linked to the curriculum. The names of the educational boards are listed below:
CBSE stands for Central Board of Secondary Education.
ICSE stands for Indian Certificate of Secondary Education.
IB, which stands for International Baccalaureate, is a program that offers a globally recognized education.
State boards, on the other hand, refer to the governing bodies responsible for overseeing education within a specific state.
The International Baccalaureate is regarded as the most intricate educational b oard among the aforementioned boards. The focus is on the concept of ‘learning methods’. Significant emphasis is placed on the application of information and the practical aspects of studying.
The ICSE board aligns with the level of complexity set by the IB. Next in line is the CBSE board, which is renowned as one of the prominent educational boards in India. It falls within the jurisdiction of the central government of India. The difficulty level associated with this board is moderate.
Lastly, we arrive at the State Boards. Each state in India has its own board of education. Each state’s own State Government regulates it. The language used for instruction in schools affiliated with state boards is the regional language of the specific state, as well as English.
On a final note, focus on hard work and persistence. It is imperative you go through the previous years’ question papers, discover the important questions, analyse and comprehend the exam pattern, sample papers and more.
Frequently Asked Questions on Commerce
Q1 What are the subjects offered in the 11th and 12th Commerce stream of the CBSE Board?
The five compulsory subjects for both Class 11 and 12 Commerce students are Accountancy, Business Studies, Economics, Mathematics/Informatics Practices, and English. In addition to these disciplines, there are optional subjects available, namely Entrepreneurship and Physical Education.
Q2 What are the top-rated books for Accountancy in Class 12?
The most highly suggested books for students to practice Accountancy for the Class 12 exams are: T.S Grewal 2) D.K Goel Sandeep Garg 4) T.R Jain
Q3 What are suitable themes for a Class 12 Economics Project?
Some intriguing subjects for a Class 12 Economics project are Non-Performing Assets and the procedures employed by Central Banks to recover them, Imperfect competition and the occurrence of Market failure, Theories regarding the Long run supply curve, the functions of Central Banks with a specific focus on the Reserve Bank of India (RBI), and the policies implemented by the RBI to control inflation and increase the value of the currency.
Q4 What are some suitable themes for a Class 12 Business Studies Project?
Some intriguing subjects for a Class 12 Business Studies Project include: an analysis of courier and postal services, an examination of a franchise retail store, a case study on a specific product, a comparative study of two wholesalers, and an investigation into a weekly bazaar in your local area.
Q5 Which elective subjects are available for Commerce students in 11th grade?
Some elective courses include Computer Science, Information Processing, Psychology, Mathematics, additional foreign languages, Physical Education, Sociology, Fine Arts, and Music, among others.