Do you have any idea to what extent the skills acquisition impacts your career? To design a rewarding career, as a commerce graduate, you must attain certain skills which elevate your talent in the respective field.
Commerce is one of the most signified streams with a greater future globally. Stephenson, the author of “The principles and practices of commerce”, opinioned that Commerce is an interesting field that blooms modern economic life. Commerce can decide the future of business industries, including trading, exchange of goods and services, product sourcing, marketing, etc.
What is curious about the field?
If you are curious about building a career with steady career growth, as a commerce graduate, you must learn about financial information, transactions, economic value, trade, accounting, SAP, Tally, Excel-like accounting softwares etc.
Accounting and taxation are the most crucial elements in the commerce stream. Multiple jobs globally and increasing job openings are the two main positive characteristics of the accounting and finance industry. Graduating from Commerce has led the aspirants towards various jobs, but at the same time, acquiring practical knowledge is necessary. Job roles such as junior accountant, data analyst, operations management, information system manager, project manager, bank manager, wealth manager, opportunities in nationalized banks, railways, income tax, etc., are anticipating the commerce candidates. Like various industries, E-commerce, entrepreneurship, human resources, auditing, banking, finance, etc., expect skilled professionals.
A successful job career with a strong foundation in Commerce will be gained mainly by accumulating the skills; Having competency in problem-solving and analytical skills, communication skills, financial accounting, and knowledge of taxes, laws, etc., leads to a victorious career path. The field has kept in befitted roles and elements regarding career development.
Graduates who intend to engage and develop professional careers in Commerce must possess considerable skills. Even though acquiring a professional certificate is mandatory in the commerce field, it must be considered that the student must gain specific skills in accordance with the job nature. It is important to acquire practical knowledge and skill in the field by comparing it to theoretical knowledge acquisition.
Top nine skills a commerce graduate must have
1. Basic mathematical awareness
Acquiring mathematical ability, especially expertise in basic mathematical calculation, is one of the most needed skills for commerce graduates. Mathematical ability is not purely innate but can be gained through effective practices. Having good knowledge of basic mathematical skills has the potential to develop a strong foundation in the commerce field.
2. Knowledge of Microsoft Excel
In-depth awareness of MS Excel is a vital component that a student must have acquired for a bright future. Handling Microsoft software, specifically Excel, can bring many opportunities for the student in the field. In the Commerce field, excel, the Microsoft tool has the inevitable role in efficiently engaging and promoting business operations. The tools can intervene the business aspects such as marketing, product management, storing customer data, and financial and accounting details. Excel act as a mathematical tool that makes easiness in financial calculations. The big numerical data can easily be analyzed through excel software. The job opportunity and demands of a student in the field are much elevated if they are well aware of Microsoft excel.
3. Financial analysis
Earning statistical evaluation skills and good knowledge of quantitative data analysis is also considered a student’s greater valuable ability. The skill is inevitable for a learner, and at the same time, it is an added advantage while looking for placement in the field. The ability in numerical data evaluation drives the commerce learner to career promotion and makes them adaptable for any job role in the industry. Moreover, the skill in the area is most valuable, which can elevate the start-up initiatives by the side of a student.
4. Problem-solving skill
Bringing a practical solution to an organization while facing barriers is essential for smooth day-to-day business practices. A student must possess problem-solving skills to lead the way to solve the problem identified in the business organization. In the commerce industry, it is necessary from the production to delivery of the services in the entire business operation aspects. Developing economic findings and solution is a must be needed skill for commerce aspirants. Problem identification, evaluation, and solution implementation are systematic processes in problem-solving skills. A student must have generated capability in the sense of right problem identification. The student has to generate patience in researching the background behind the problem and also visualize the problem.
5. Communication skill
Communication as a fundamental successful element in the business organization. The skill can elevate both personal and business growth more effectively. Communication ability without any inferiority complex and having clarity and conciseness enables learners’ value in the industry. Workplace communication skills are imperative components that a commerce student must have. Conveying messages that the compassionate and concise. Attending training courses regarding communication skills, enhancement of reading habits, experience, interacting with the ideals, etc., are effective practices to enhance communication ability. Business-to-business communication skill makes stable and sustainable development of the business organization. The graduated student must earn the skill before going out of campus.
6. Knowledge of taxes
Knowledge acquisition regarding government tax such as income tax, service, excise tax, etc., the graduates must be aware of the contemporary taxation system, which includes GST, values added tax, etc. The in-depth knowledge of taxes increases the demand of the student. From the graduate and post-graduate students, the skill acquisition and capability in easily handling the taxation of the value will provide a chance to get hired in a good position.
7. Numeracy skill
The strong capability in Data management, taxes, banking, and finance management are added advantages for commerce aspirants. These business areas will point to a strong aptitude for numbers. The skill helps to deliver comprehensive findings regarding the graphical information and quantitative data.
8. Familiarisation with Accounting Softwares
Technological upgrades make you the most valuable candidate for the accounting field. Acquiring skills in the technological aspects especially understanding and gaining practical experience in the finance softwares, increase your rate; the skills regarding handling Tally, Excel, Quickbooks, Zoho books, and SAP, like accounting, cloud accounting, and ERP softwares, raise yours in most valid job position in the industry.
9. Team Management and Leadership
For the career advancement of a commerce student, the acquisition of leadership skills is another significant aspect. Effective problem-solving, communication and analytical skills have to be attained for the elevation in my career. The student must acquire the skills such as timely communication, risk-taking mentality, patience, listening, and flexibility-like characteristics. Continuous learning practices, participating in resolving conflicts and leadership development programs are the methods to attain leadership ability, leading to a positive elevation in professional growth.
Practice makes a man perfect; the identified talent gap or the education has to be resolved by the graduates during the learning process. For stable growth in the professional field, the aspirants must get these skills and be involved in continuous practice. Accumulating the essential skill act as a strong foundation for career extension and makes it easier in each step of the career expansion stage. The learning process and thirst for acquiring deep knowledge regarding the practicality of the learned theory must bring the learner towards success.
The Finprov team provides you with the best opportunity to upraise your talent in the accounting and finance industry. Our team resolve the identified talent gap and hoist your professional skills with expert mentorship. We offer SAP FICO, Tally Prime, GST, Income Tax, Practical Accounting, Gulf VAT, Advanced Excel, Quick books, Zoho, CBAT, PGBAT, and various accounting courses with valid certifications, Making you valuable competitors for different job roles.