Commerce Class 11 & 12 - Important Topics & Study Materials

Choosing a stream after the 10th standard is very important, as it will influence your future career path. For this reason, students need to think about where their interests lie to make an informed decision.

In India, the majority of students are attracted to three streams - Arts, Commerce, and Science. As per the All India Survey on Higher Education (AISHE) in 2019, Arts was the most popular stream. Science was the second most popular and Commerce came in third place. In Commerce, students learn about the basics of economics, industrial policies, fiscal policies, and business trade. Through Commerce, students acquire various specialized skills that will help them shine in different areas of business.

However, if none of these streams interest you, remember that there are several different options for you to choose from. You don’t need to be a part of the crowd; make your own way! Study something that interests you and excel at it. 

Reasons to Choose Commerce Stream

• Students pursuing Commerce after class 10 get to choose between a wide array of degrees and career options. Chartered Accountancy (CA), Chartered Financial Analyst (CFA), and the banking sector are just a few well-paying and satisfying career options among many that are open to Commerce students.  

• If you’re good at numbers, dealing with a lot of data, and interested in topics like finance and economics, then you should definitely consider Commerce. 

• Subjects like Accountancy, Economics, and Business Studies help students gain a better understanding of the economic and commercial world. Commerce prepares students for entry into the interesting world of business. 

Subjects in Commerce

Commerce is all about the trade process between economic agents. Students choosing to study commerce after the 10th standard will have compulsory as well as optional subjects. Students need to know the different subjects included in Commerce before making their choice. So, here is a brief overview of the subjects you will have to study if you choose Commerce.

1. Accounting 

Accounting refers to the process of documenting the financial transactions related to a business. Accounting is necessary for any business to survive, no matter how big or small it is. It is one of the primary functions of a business. It also provides valuable information to any business and helps it to make informed decisions. It measures the outcome of a business’s commercial activity and passes it on to various people, such as investors, creditors, and management. Accounting is often called the language of business and is a mandatory subject in the Commerce stream. Studying Accountancy in classes 11 and 12 will provide you with extensive knowledge of accounting and will also enhance your critical thinking skills. 

2. Business Studies 

As the name suggests, it is a subject that provides comprehensive business knowledge. Students study how companies are formed, the business environment, and what affects them. It includes business ethics and social responsibilities of businesses too. With this subject, students will get a better understanding of how businesses operate and the framework within which businesses operate.

Business studies will help you no matter what career path you choose. It will help you if you want to work in management, kickstart your own company or even run a family business.

3. Economics

Economics is a mandatory subject for Commerce students. It includes the study of production, circulation, and consumption of goods and services. It is concerned with how economies function and the interactions between economic agents. In Classes 11 and 12, students will learn about the basics of economics, microeconomics, macroeconomics as well as statistical tools.

4. English

No matter which stream you choose, English is a compulsory subject. It is the most widely spoken language with 1.5 billion speakers. It is a global language and knowing it will help students to progress in their careers. In Classes 11 and 12, the syllabus is based on listening skills, speaking skills, writing skills, grammar, and comprehension. 

Apart from these four main subjects, students will also have to choose an optional subject as their fifth subject. 

Commerce Stream Boards in India

In India, there are four main educational boards for students. They have the freedom to choose the Board that suits them well. The choice can be made on the difficulty level of each Board and what students are comfortable with. The names of the main educational boards in India are -

• State boards

• CBSE – Central Board of Secondary Education

• ICSE – Indian Certificate of Secondary Education

• IB – International Baccalaureate

Among the above-mentioned streams, International Baccalaureate is considered to be the most challenging. In the IB board, there is much more emphasis on practical knowledge and how their studies can be applied. IB examinations test a student’s knowledge of a subject rather than their speed and memory. In this board, students don’t need to choose a stream like arts, science, and commerce after the 10th standard. Instead, students get to choose subjects according to their preferences.

ICSE comes second in terms of difficulty level. It is a private national-level board with English as its primary means of instruction. The curriculum is designed in such a way that it gives equal importance to both academics and extracurricular activities.

Next, comes the Central Board of Secondary Education. It is one of the most popular boards in India and is managed by the Union Government of India. The CBSE board is committed to providing quality education to students and the difficulty level of this Board is moderate.

Next are the State Boards. Every state in India has its state board of education and is regulated by the respective state.  Under the Ministry of Education, each state and union territory is allowed to design its syllabus. In most cases, the state boards are considered to be a lot more rote-oriented.

From the syllabus to the study material - everything you require to strengthen your understanding of a subject, prepare for an exam and revise all you have studied - is available on Vedantu. And the best part is that all these resources are completely free. On Vedantu you will find question papers with solutions, detailed syllabus, important questions, revision notes for every subject and every chapter. Above this we also have a team of dedicated subject experts who are available to clear your doubts and help you understand the subject better.