In 2023, employability among Bachelor of Commerce graduates in India was robust – at 60 per cent! It means that even if the job market is good 40% of B.Com graduates will still be jobless – and we are not even talking about those who are underemployed or underpaid here.

So, we urge all B.Com students from SMS Varanasi to start looking for various career options they can apply for – and start preparing them early. The economic slowdown in India has led to reduced hiring but there are still diverse careers that can help you adapt better to such situations. One powerful tool to help you achieve success as a B.Com graduate is the Certified Public Accountant or the CPA exam.

Career Opportunities Bachelor of Commerce Opens for You

Finance:

• Chartered Accountant (CA): CA is one of the most prestigious and sought-after careers in finance. They can help you with taxes, do auditing, and be a financial consultant. After B.Com, you can straightaway appear for the Intermediate Level of the CA Exam and if you clear that, sit for the Final Exam.
• Investment Banker: You may already know that investment bankers get fat pay packets – and that’s because they help individuals and organisations to raise capital and make big investment decisions. To become an investment banker, you need strong analytical and communication skills as well as a deep understanding of financial markets.
• Financial Analyst: Financial analysis jobs can fetch you good money. You should know how to research and analyse financial data and be able to provide insights and recommendations to businesses and investors to help them make informed financial decisions.

Accounting:

• Cost Accountant: Cost accountants help businesses maximise their profitability by managing and analysing costs they incur, and ensuring efficient resource allocation and cost control.
• Management Accountant: Management accountants analyse financial data to help with making management decisions and keep the financial health of the organisation robust.
• Auditor: Auditors ensure financial transparency and accountability. They are hired to independently examine financial records and accounts of a business and they have to make sure that they are accurate and adhere to regulations.

Taxation:

• Tax Consultant: Tax consultants advise individuals and businesses on how to plan, compile, and file their taxes. They have a good understanding of tax laws and regulations – and can guide clients on how to pay less taxes by planning judiciously.
• Tax Accountant: Tax accountants often work for tax consultants and are the ones who actually prepare and file tax returns for their clients.
• Revenue Officer: Government agencies hire revenue officers to collect taxes, conduct audits and investigations, and make sure individuals and businesses comply with tax laws.

Marketing:

• Marketing Manager: B.Com students from SMS Varanasi with strong communication, creative, and analytical skills can apply for Marketing Management jobs where they are required to develop and implement marketing strategies to promote products and services, increase brand awareness, and attract customers for different businesses.
• Market Research Analyst: Market research analysis requires one to gather data and insights about consumer behaviour, market trends, and competitor activity, analyse it, and glean valuable information from it to help businesses make informed marketing decisions.

These are just a few examples of what those with a Bachelor of Commerce degree can do. Now, let’s talk about what CPAs do and how to become a Certified Public Accountant.

What is the CPA Exam and Who Should Pursue It?

CPA stands for ‘Certified Public Accountant’. The CPA Exam is conducted by the American Institute of Certified Public Accountants (AICPA). It is a globally recognised designation which is considered equivalent to India’s Chartered Accountant (CA) designation.

One has to take the Uniform CPA Examination and pass it to earn this designation and work as a licensed CPA in the United States. CPAs can also find jobs in other countries like Canada, Australia, Singapore – and India.

Read More: Take The CPA Exam For A Breakthrough In Your Career

Advantages of Starting the CPA Exam Preparation Early

At SMS Varanasi, we advise our B.Com students to start preparing for their CA or CPA exams early – so that they can manage their academic workload more effectively. Knowing what they need to study for the CA or CPA exam allows them to focus on topics that are also covered in their B.Com syllabus – and prepare for their college and certification exams simultaneously.

Here are some of the key advantages of preparing for the CPA exam while still pursuing the Bachelor of Commerce program:

1. Building a Strong Base: The B.Com course covers fundamentals of accounting concepts like financial accounting, cost accounting, taxation, and auditing. 

If you start CPA prep while you are studying the basics, you are more likely to gain a solid and clear understanding of these core principles while they’re fresh in your mind. Thus, it becomes easier for you to grasp advanced CPA exam topics later.

2. Learn Discipline and Time Management: The CPA exam (or even the CA exam) is quite rigorous and demands you to study dedicatedly for long hours. If you start early, it will be easier for you to develop effective study habits and imbibe time management skills that will be crucial for success in any career you choose. 

You can experiment with different study methods and find what works best for you. The aim should be to come up with a consistent study routine that fits into your B.Com workload – one that you can practically follow.

3. Spread Out the Workload and Reduce Stress: The CPA exam has four sections:

• Auditing and Attestation (AUD)
• Financial Accounting and Reporting (FAR)
• Regulation (REG)
• Business Environment and Concepts (BEC)

If you spread out your CPA preparation throughout your B.Com program, it makes the workload less daunting, reduces stress, and makes it easier to focus on each section with greater clarity.

After graduation, rushing with the CPA exam preparation pales in comparison.

4. Utilise Campus Resources: At SMS Varanasi, we offer you many resources for our B.Com students that can help you with CPA preparation, such as workshops and study groups. 

You can take advantage of these resources, get guidance from experienced faculty members, and connect with motivated peers on campus.

5. Gain a Competitive Edge: Believe me when I say that employers are starved for self-motivated candidates. If you are working towards a goal and are committed towards it, it shows that you are proactive and ready to take initiative – which can work in your favour during campus interviews.

6. Graduate with a CPA-Ready Mindset: B.Com graduates who already know about the CPA exam format, content areas to be covered, and testing strategies are more likely to prepare for the exam more smoothly and with a higher success rate.

Please note: When we recommend you start early, we are not saying that you should rush headlong into intense CPA preparation right away. We are only asking you to:

• Learn about the CPA exam format, content areas, and study resources available for you. 
• Incorporate targeted CPA study sessions alongside your B.Com coursework gradually and build momentum over time as you gain more knowledge and confidence.

Read More: Practical Tips for CPA Preparation for B.Com Students From Varanasi

In conclusion, for B.Com students from SMS Varanasi, embarking on the CPA Exam journey early is not just a strategic move; it’s a roadmap to future success. Starting early not only builds a robust foundation but also fosters discipline, time management, and a competitive edge. 

Graduating with a CPA-ready mindset ensures seamless integration into the dynamic world of accountancy, marking the beginning of a future-proof career. Take charge now, embrace the advantages, and set yourself on a path towards professional excellence.