The Importance of an MCom Degree for Future Accountants<
Have you wondered what the upholding factor is in every business establishment which when collapsed will fail the entire organisation?
It is nothing but the finance and accounts department. Yes, statistics state that around 78% of companies in the global bandwidth accept that their primary focus in hiring high-skilled professionals is for the finance department.
So, when finance and accounts hold such a place, then why don’t students take up a course relevant to it?
Do you want a course suggestion?
Our suggestion would be a Master of Commerce degree at a top college like ours, Mansarovar Global University.
But, why?
Get to know why and the M Com benefits in this blog from us. Read more to know more.
Also Read- What Can I Do With a Degree in Finance And Accounting?
Master of Commerce Course at Mansarovar Global University:
Mansarovar Global University is one of the prestigious universities in India that offers a wide range of courses in various disciplines such as engineering, commerce, etc.
So, we offer the best MCom course at our college, and here are the course highlights.
| Course Description | The Master of Commerce (MCom) is an advanced course focused on commerce that covers topics like banking, finance, accounting, and financial management. |
| Level | Postgraduate Level |
| Duration | 2 years |
| Mode | Semester |
| Eligibility Criteria | The basic eligibility criteria to pursue a Master of Commerce (MCom) at Mansarovar Global University are as follows: Candidates should have completed BCom or BCom Hons with a minimum of 50% aggregate in any recognized educational institution. There is no upper age limit to pursue a Master of Commerce (MCom). A relaxation of 5% is provided in certain colleges for reserved categories such as SC/ST/OBC. |
| Admission Procedure | Admission to the MCom course at Mansarovar Global University is provided by considering the UG score of the students. |
Getting a glimpse of the MCom course at Mansarovar Global University, let us move on to know why this course is important for future accountants.
Career Scope of Master of Commerce:
Before exploring the importance of the course, let us get to know the career scope for this course. For more than two decades, MCom scope has never come down as the commerce department including finance and accounting has always been one of the major pillars in the business.
As the business industry is expanding rapidly, we can see a lot of new companies and organizations launching in the business world thus hiking the demand for financial and accounting experts. This hike is directly proportional to the MCom career scope.
Take a look at the number of business applications that increase every year, thus raising demand for MCom professionals.
Source: Oberlo
As the scope for MCom increases it means the job opportunities for MCom have also risen.
So, here are some of the job opportunities for you after MCom degree.
| MCom jobs | Average Salary in INR |
|---|---|
| Budget Analyst | 6.04 LPA |
| Accountant | 2.49 LPA |
| Management Consultant | 11.4 LPA |
| Computer Programmer | 4.79 LPA |
| Auditor | 4.85 LPA |
| Cost Accountant | 5.16 LPA |
| Business Consultant | 9.86 LPA |
| Investment Banker | 9.1 LPA |
| Marketing Manager | 7.17 LPA |
| Operations Manager | 7.8 LPA |
| Public Relations Manager | 7 LPA |
| Management Associate | 4.5 LPA |
| Marketing Operations Specialist | 8 LPA |
| Business Manager | 5.5 LPA |
| Business Analyst | 5 LPA |
| Business Manager | 8 LPA |
| Operations Manager | 7.6 LPA |
| Business - Banking Relationship Manager | 4 LPA |
Let us move to the main part of the blog now.
Also Read- All About M. Com. Course and Its Scope
Why is it important for future accountants to consider an MCom degree?
We all know, that when considering degrees to pursue for finance or accounting, the first suggestion to appear in mind is MCom, and here are its reasons.
Advanced and Focused Curriculum:
The first noted benefit of doing M Com is the advanced and focused curriculum.
Yes, the MCom course is designed with a curriculum that focuses on all the fundamental aspects of finance, accounting, business management, etc with the motive of providing in-depth and advanced-level education on these aspects.
This aspect of MCOM is considered essential for a career as an accountant or so.
Opportunities to specialize:
Opportunities to specialize is one of the MCom benefits which makes it important for future accountants to consider.
MCom course is offered in a wide range of specializations which you can choose from based on your career requirements. Some of the popular MCom specializations are as follows:
Computer Applications
Accounting & Finance
Taxation
Marketing
Business Management
Banking and Finance
Proper Channel for Skill Development:
Occupation in the business world demands a set of relevant technical and soft skills parallelly, and pursuing an MCom degree will help in it.
By pursuing an MCom degree, you can gain a wide range of skills which are as follows:
| Technical Skills | Soft Skills |
|---|---|
| Spreadsheet proficiency | Leadership skills |
| Cloud Computing | Team management |
| Data Analysis skills | Communication skills |
| Accounting Software skills | Presentation skills |
| ERP Systems Knowledge | Negotiation skills |
| Programming Skills | Problem solving skills |
| Taxation Software skills | Decision making skills Critical thinking skills Conflict resolution skills |
Source for Career Advancement:
Not just for future accountants, even current accountants planning on raising their career profile in their organization or looking for much more higher level job positions can take up MCom to find better M Com related job which will be an upgrade in their professional level.
Another attribute of MCom is that it defies the worry of finding after MCom which course is best, as MCom itself is the best course. Yet, you can choose to pursue PhD in commerce-related fields after MCom.
Conclusion:
As we see, the MCom benefits are so very significant and it is highly persuading for accountants to pursue. Considering professional growth in the finance field will surely require you to pursue MCom as it stands as the mark for professional supremacy.
FAQs:
What are the benefits of M.Com in accounting?
Specialised knowledge in accounts and finance
Focused skill development
Better and advanced career opportunities
What is the value of a M.Com degree?
The value of an MCom degree is considered higher in the business world as every organization hires at least three MCom degree graduates for the financial sustainability of their company.
Is M.Com necessary for CA?
No, MCom is not necessary for CA, yet will be a better option that supports better performance in CA.
What is the scope of MCom?
The scope of MCom is notable with a wide range of career options such as cost accountant, business analyst, investment banker, etc.
