Commerce and Management
Banking
Role of Bankers:
- Gather deposits from the public and help create a savings mentality among the public
- Provide loans to constituents in want of funds
- Scrutinize details regarding candidates to make sure the money Lent can come with interest.
- Provide investment and money management advice to customers.
- Monitor the daily flow of banking operational activities.
Business Management
Businesses, large and small, public and private are the core of any economy. Every Industry needs leaders to advance projects, improve efficiencies and guide towards progress. A course in business management enables students to meet the challenges of a high-tech, global marketplace in a variety of capacities, including project management, sustainability management, finance, marketing, operations, and human resources.
Business jobs continue to offer solid opportunities as accountants, financial, advisors, financial analysts, management analysts, consultants, public relations specialists, sales managers, and training specialists. Most colleges in India offer finance, human resources, and marketing as electives during the final year of study after class 12.
Some of the tasks:
- Work closely with clients to identify business needs
- Calculate the costs and benefits of implementing a solution
- HR executives are involved in overall HR practices, induction, performance management systems, employee engagement, grievance handling among others
- Marketing functions include business development services, marketing management, client servicing, account management, and proposal making
- Finance divisions include risk analysis, credit analysis, portfolio management, and wealth management among others
Chartered Accountancy
Chartered Accountancy is amongst the top 10 jobs of the world. Chartered Accountancy is a challenging, dynamic, and rewarding profession. With the rapid growth in the Indian economy, Chartered Accountants are in huge demand. Their work involves auditing, taxation, accounting, and financial planning. It can be a step towards building a career in finance, investment consultancy, and fund management.
The study has gained immense fame because of its practical components and on-the-job training. In India, to qualify as a CA, one has to pass several levels such as CPT, IPCC, and finals. One can become a Chartered Account eighter by completely focusing on the above levels immediately after completing class 12 or upon graduation can continue from the IPCC level.
Role of Chartered Accountants:
- Manage financial systems and budgets
- Analyze risks and review a company systems
- Advise clients on tax planning and tax-related issues
- Maintain and prepare accounts and manage information relating to the businesses
- Monitor funds constantly to avoid fraud
- Liaise with internal and external auditors to deal with any financial irregularities
- Prepare monthly and annual financial statements
Company Secretary
The growth and expansion of the corporate sector due to liberalization and economic process have resulted in an exceeding growth in demand for specialists in virtually every sphere. With the increasing complexities involved in running an organization, the role of a Company Secretary becomes vital.
A Company Secretary is responsible for the efficient administration of a company, particularly with regard to ensuring compliance with statutory and regulative needs and for ensuring that decisions of the board of directors are implemented.
Tasks of Company Secretary:
- Prepare, organize agendas for and make minutes of board meetings and annual general meetings
- Maintain statutory books, together with registers of members, directors, and secretaries
- Coordinate all correspondence, collate information, and write reports
- Ensure decisions made are communicated to relevant company stake-holders
- Monitor changes in relevant legislation and regulatory environment to take appropriate action
- Coordinate with external regulators and advisors, such as lawyers and auditors
Cost and Works Accounting
An increase in competition and uncertainty in the economy requires constant evaluation of operational costs, including raw materials, transportation, wages, rent, and utilities. An organization relies on its Cost Accountants to ensure that they are using resources efficiently. They are involved in framing the business policies of a company and evaluating projects undertaken based on past and present financial performances. They are thus indispensable for strategic decision-making for any company. Cost and Work accountancy are now interwoven into the main fabric of management.
Tasks of a Cost and Works Accountant:
- Deal with all the financial aspects of a company
- Systematically assess costs associated with manufacturing products or distributing the services
- Design and implement effective management data and control systems
- Take care of investment analysis, project management, internal audits, and cost audits
- Collect, compile and analyze financial information and reports
- Guide the management on risks involved and suggest effective and economic measures
Management Accounting
Management Accounting is a combination of accounting, finance, and management using modern techniques to drive any successful business. Management Accountants are the key people that determine the status of a company. They perform a series of tasks to ensure their company's financial security. Handle all financial matters and thus help drive the business overall management and strategy.
Tasks of Management Accounting:
- Apply accounting techniques to prepare a budget for the company
- Manage assets to help determine compensation and benefits package
- Handle taxes and aid in strategic planning
- Ensure professionalism and integrity to business
- Identify and manage risks
- Prepare bills receivables, payroll, financial statements, and compliance audits
Stock Market Analysis
Stock Analysts or Securities Analysts are responsible for advising their clients or employers as to which companies to invest in and which company's stock they should get out of in order to reap profits from the given resources. An analysis researches and examines financial data on stocks and companies keeps a track of trends and makes reports using required tools, software, and excel sheets. A passion for stock markets is a must in order to succeed in this career.
Tasks of a Stock Analyst:
- Execute trade transactions electronically or by phone
- Coordinate with sales traders and clients on market changes
- Predict how markets will move and accordingly buy and sell stocks
- Inform relevant parties of the most significant trades for the day
- Gather information about mispriced assets, make detailed data analysis, and evaluate them
