Accountancy is an integral part of Commerce Stream. Accountancy is a branch of mathematical science that is concerned with the financial information about a business entity to users such as shareholders and managers. Studying accountancy enables a student to learn and discover the various causes of successes and failures of different business enterprises. The principles of accountancy are applied to business enterprises in three divisions of practical art, named accounting, bookkeeping and auditing.
A student studying accountancy will learn the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are financial in character to any extent and the interpretation of the results of these transactions and events.
When any information is prepared as a report for any individuals or companies use outside the organization, the process is known as ‘financial accounting’.
Economics is a social science that deals with the study of the production, distribution, and consumption of goods and services
Economics has two broad branches – micro-economics, where the unit of analysis is the individual agent, such as a household or firm, and macro-economics, where the unit of analysis is an economy as a whole. Studying economics enables us to learn more about how the world works as it helps in gaining knowledge about the impact that decisions have on firms, industries and nations, the impact of international trade, both good and bad, the effects government policies have on the economy and on employment.
It helps people to understand how an individual, companies, and government makes a decision on declared resources to satisfy each desire and requirements. It also helps determine how an individual or an organization should organize and coordinate with each other to determine the expected outcome
Business Studies is a subject that deals with the operation and organization of modern business enterprises. The subject covers each feature of a business firm, such as how a firm will be affected in different business situations.
The main areas of study in the subject include business organizations, their various features, structure and functioning, marketing, operations management, human resource management, etc.
Studying Business allows a student to observe and analyze the behavior and tactics of different firms. It gives an individual a substantial foundation and understanding of how a business should be operated, and improve one’s communication, operation, strategy, and commercial activity skill.
Informatics Practices is a stream of software- related research. The subject primarily covers software, networking concepts, and coding. This field is corresponding to Computer science and dearths the hardware concepts while concentrating more on networking concepts than Computer Science.
Mathematics is an important part of commerce, all the methods of economics depend on the numbers. With the basic knowledge of math principles, an individual and an organization will be able to understand where they position themselves financially in the present and in the future. Most of the organizations use mathematics in inventory management, marketing, accounting, financial analysis, and sales forecasting.
Statistics for Economics
Many ideas economic theory, like functional relationship amongst variables, are asserted in terms of symbols, algebra, calculus, etc. To examine several economic and social phenomena events, economic theories are better understood and analyzed according to the appropriate numbers. These numbers, which is also known as statistics represent facts on the basis of a mass of figures. This statistics help is a comparison of facts. Students who are inclined towards athletics can choose Physical Education (PE). Opting for physical education as the 5th compulsory subject is a good decision. It is an easy and scoring subject (you can score 100) and students who find mathematics complex, can take it as an additional subject because it is beneficial for graduation.