As you get free after giving the scary and tiring 12th Board exams and take a breather from all those months of stressful studying, the next thing that starts haunting your life is the ever-present question that looms large over you,
‘What course am I going to opt for in my graduation?‘.
Say you have decided to join the interesting world of Commerce and are preparing for your undergraduate admissions into Bcom, you might have some doubts and myths that you or your parents and friends might have heard and wanted some clarity on. Well lucky for you, you have landed on the perfect page. Through the means of this article, we are going to debunk some popular myths related to the stream of Bcom, which will give you a much-needed assurance and clarity before you step into the world of accounts and commerce. Take a look:
Myth 1: BBA and B.Com are one and the same thing.
Reality: While the courses teach the nuances of business and marketing in-depth, the area of expertise is different for each.
Most of you must have found yourself scratching your head about this one. This is one of the biggest misconceptions about Bcom, that it is the same as having a degree in BBA. This is not true! BBA which stands for Bachelors in Business Administration teaches the students all about Business and also trains them in the field of Management. Whereas B.Com, which stands for Bachelors in Commerce is an undergraduate degree that focuses a lot on Accounting, Taxation, Finance, and Commerce.
Myth 2: You are going to be a CA
Reality: Being a CA is one of the paths that can be taken after a B.Com degree, but it is not the only one.
People always think that having a B.Com degree automatically means that a person aspires to be a Chartered Accountant (CA) since accounting is one of the major subjects that is taught in this stream. It is true that one can be a CA with the help of his/her B.Com degree, but there is a lot more that can be done post-graduation which does not always mean being a CA. You can try your hand in a vast number of career options!
Myth 3: You must have plans to start a business.
Reality: B.Com does teach students a lot about business and finance which gives them an added advantage to run a business, but it is not mandatory that everyone aspires to be an entrepreneur.
While some students dream of getting a good knowledge of finances and accounting which will help them establish their own businesses in the future, not every student thinks the same way. People have always associated B.Com with Entrepreneurship and Chartered Accountancy but failed to realize that the possibilities and wants for each and every individual is different. It is wrong to associate limited career options with B.Com, or any stream because it confuses and demotivates a lot of people from taking it up.
Myth 4: It is the same as what you learn in Commerce during the 11th and 12th grades.
Reality: Absolutely no! While the base of the degree is based on what is taught in 11th and 12th standard but there is a lot more than that.
Schools always prepare you for what you can expect in certain fields, but needless to say, they don’t teach everything. The level of studies and concepts that are introduced during graduation is not taught to students in school. A lot of new concepts, subjects, and areas are taught to students, like Applied Economics, Cost Account, Statistics, Taxation, etc. It goes without saying that having a commerce background does help you when you go for your Bcom degree, but it does not prepare you for all the new concepts that you will learn once you go ahead in your Bcom degree.
Myth 5: You will earn a lot
Reality: This is totally dependent on what job you go for and what position you are at.
People like to assume a lot of things for B.Com graduates, like how they are bound to earn well. While it is true that all the knowledge about business, accounts, and finances give an added advantage to Bcom graduates, it does not guarantee a high paying job as soon as you step out of the college gates. A lot of jobs start with relatively less pay, but over the years yield a solid package for the students. While some students can bag a great package as well! It all depends on your graduation performance, your abilities, and the job that you apply for.
Myth 6: You can only do commerce-related jobs after this.
Reality: This misconception has been one of the biggest myths related to B.Com. The degree specializes in Commerce but it leaves a vast variety of careers open to students after graduation. After securing your degree in B.Com, you can also venture into the field of Actuarial Sciences, Company Secretary, Education, Law, Government jobs, Politics, etc. The list of opportunities post-B.Com goes on and on. Take Late Arun Jaitely for instance, he went on to pursue law after completing his graduation in B.Com. Needless to say, he is known all over the world for his commerce as well as law ability, which landed him a big role in the Parliament numerous times!
Myth 7: The next step is always M.Com or MBA.
Reality: No! Similar to the previous myth, B.Com graduates can opt for a number of degrees to pursue after their graduation.
Degrees like M.Com or MBA after having completed your graduation in B.Com seem like the only natural path after it, but sorry to burst this bubble, it is not necessary that you can go ahead for only these two degrees. Both MBA and M.Com are commerce-related degrees that advance your prior knowledge and skills from graduation, but they are not the only option after it. You could opt for various other Postgraduate degrees as well, and it does not need to be only related to Commerce.
Myth 8: You need a degree in B.Com to be great at business.
Reality: While having a degree gives you a lot of knowledge about business, and commerce, but it does not mean that it is absolutely necessary to have a degree in B.Com to be great at handling business.
It is a common issue that we seem to give more importance to degrees than we do to a person’s skills and talent. It is a bonus if you have a degree on B.Com before you start to devise plans and strategies to start your own business, but your degree does not guarantee that you will automatically be great at it and be the next Mukesh Ambani in no time! The degree will give you a lot of knowledge which will help you in the business field but it can not guarantee a successful business career.
Myth 9: B.Com (H) is just the same as B.Com programme.
Reality: They both are degrees in commerce but have a major difference between them.
You must have thought, “B.Com or B.Com Honours, it’s the same thing!”. But much to your surprise it is actually different from one another. Although, both the degrees teach about commerce and the subjects related to it, B.Com honours teaches more extensively about the subjects under it than B.Com programme does. B.Com programme gives an overview of the various subjects and does not leave the avenue of specialization in a subject open to its students, while B.Com honours does.
Myth 10: You must be a walking talking human calculator to survive in this field.
Reality: Being good at mathematics is a bonus in the field of commerce which deals with numbers on a daily basis, but it is not absolutely necessary to be equivalent to a human calculator while you prepare to enter into this stream.
It is always assumed that people who are great at maths and possess an ability to calculate the biggest mathematical problems just like a calculator are the only ones who should be opting for this stream. This notion is incorrect! Being good at maths is an advantage but it does not require you to be a computer and be naturally great at solving all kinds of mathematical questions that you will encounter a lot in Accounting. Having a decent quantitative ability is also okay. With repeated practice and hard work, you can easily ace at it and match the balance sheet with ease!
It is important to research and clear your doubts regarding any stream that you might be interested in. Your careers form an important aspect of your life and you should never give into commonly heard myths and assumptions of people. B.Com is a great stream for those who wish to get into it, not only does it give you ample knowledge about accounting and finance but leaves you with vast career opportunities after it. Hope your myths regarding B.Com have been clarified now!