Here's all you need to know about the M.Com syllabus, subjects and books

  • By Christy J. Varghese
  • 8 April 2022
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The Master of Commerce or MCom degree is a postgraduate degree that has 4 semesters equally distributed in 2 years. This course is usually taken after completing a Bachelor of Commerce degree. Moreover, much like B.Com, MCom too has various specialisations that you must have knowledge of. 

The core subjects of MCom include accounting and managerial decisions, corporate financial accounting, corporate tax planning, e-commerce, financial management, marketing behaviour, among others. You will also have to take up a few elective subjects such as banking and finance, income tax, and international finance, to name a few. 

MCom 1st Year Syllabus

In the first year of the course, usually, the core subjects are taught after which the students are given the option to choose their desired electives and specialisations. The following table contains the list of subjects taught during the first year of the MCom course at any reputed institution:

Semester 1: In your 1st semester you will learn a few fundamental subjects such as accounting, financial management and decision making for commerce. You will also be introduced to e-Commerce concepts and Managerial economics.  Semester 2: This is an important phase of your MCom degree. You will learn corporate structures, business environment, global trade, among other such subjects. You will also be introduced to strategic management and organisational behaviour during this time. 
Accounting and Managerial Decisions Business Environment
Computer Applications in Business Corporate Financial Accounting
Corporate Legal Environment Corporate Tax Planning
E-Commerce Economics of Global Trade and Finance
Financial Management Management Concepts and Organisation Behaviour
Managerial Economics Marketing Behaviour
Statistical Analysis Strategic Management

However, the above table is not exhaustive and many institutes may change their course structure depending on the faculty and times. 

MCom 2nd Year Syllabus

In the second year of your MCom degree, you will learn about multiple ranges of subjects. The subjects for a General MCom degree are listed in the table below:

Semester 3: This is one of the most technical semesters in the course. In your 3rd semester, you will learn the financial concepts of marketing management, banking systems, international finance and research methods used in the industry.  Semester 4: This is your last semester and covers subjects such as HR management, entrepreneurship, income tax, to name a few. You may also have lessons on personality development and take up industry projects during this semester. 
Banking and Finance Entrepreneurial Management
Commercial Bank Management Financial Bank Management
Financial Markets Human Resource Management
International Finance Investment Management
Research Methodology in Commerce Income Tax
Projects 

You are recommended to stay updated on new electives and such changes before applying to any college to pursue an MCom degree.

MCom Specialisation Syllabus

Much like there are several Honours subjects in BCom, there is a wide range of specialisations to choose from at the MCom level as well. These MCom specialisations include taxation, computer applications, and finance and banking, to name a few. 

The following table contains a list of these specialisation subjects and some added information about the syllabus and subjects taught in such specialised MCom courses: 

Specialisation Name  Subjects Taught
MCom Accounting and Finance Indirect Taxation, Insurance and Risk Management, International Financial Management, Business Environment, Modern Banking, Management Accounting, E-Commerce, Corporate Legal Environment, Economics of Global Trade and Finance, among others. 
MCom Taxation Law of Direct Taxes & Practices, Income Tax Act, Assessments, Registration, Returns Recovery of Tax Refund, Basic Concepts, Definitions, and Charge of Income Tax Act, Income from Salaries and House Property, Gross Total Income Computation, Tax Authorities and Tribunal, Rebates and Double Taxation Relief, Business Environment, Corporate Legal Environment, etc. 
MCom Banking and Finance Commercial Bank Management, Banking Law and Practices, Legal Framework of Banking, Cooperative Banking System, Financial Risk Management, Investment Management Analysis, Financial Services, International Financial Markets, Debt Management, Treasury Management, Accounting and Auditing of Banking, Auditing of Banking Sector, Currency Derivatives, to name a few.
MCom Marketing General Marketing, Service Marketing, International Marketing, Service Marketing, Consumer Behaviour, Retail Management, Marketing Channels, Market Research, Ethics of Marketing, among others.
MCom Computer Applications Fundamental of Computers, E-Commerce, Management Accounting, Financial Management, Banking Practice, Management Concept, Financial Accounting, Internet and its Applications, Office Automation Lab, E-Commerce, Internet and Web Designing, Cost Accounting using Technology, Banking Theory, Banking Laws, Business Organisation, Business Accounting Software, Project Finance, Advanced Corporate Accounting, Marketing of Finance Services, etc.
MCom Business Management Strategic Management, Economics for Business Decisions, Cost and Management Accounting, Business Ethics and Corporate Social Responsibility, Corporate Finance, Research Methodology for Business, Economics for Business Decisions, Strategic Management, E-Commerce, Macroeconomics Concepts, Human Resource Management, Entrepreneurial Management, Marketing Strategies and Practices, Organisational Behaviour, Advertising and Sales Management, Supply Chain Management, Rural Marketing, Retail Management, Tourism Management, Management of Business Relations, etc. 
MCom Financial Management Business Management, Business, Environment, Business Economics, Entrepreneurship Development, E-Commerce Management, Human Resource Management, Financial Management, Quantitative Methods for Business, Financial Accounting & Packages, Marketing Management, Quantitative Techniques for Business, Information Technology for Business, Banking Law and Practices, Bank Management, Financial Derivatives, Advanced Banking, Insurance Actuarial, Insurance Products & Management, Insurance & Risk Management, Portfolio Management, Banking & Technology, Financial Markets & Services, Principles of Life Insurance, Security Analysis and Investment Management, etc.

MCom Subjects

In general, MCom, the subjects are core to the course and commerce-oriented. It includes subjects such as financial management, banking, debt management, accounting and cost, insurance and risk assessment, among others. 

However, there are also a few specialised courses that provide the MCom degree with majors in fields such as marketing, finance and control, banking, e-commerce, business management, financial management, to name a few. 

The following listing contains the subjects taught in the general Masters of Commerce degree by any reputed college in India:

Subjects About the Subjects
Semester 1
Accounting and Managerial Decisions, Corporate Financial Accounting This teaches you about the process of managing company accounts and take managerial decisions. 
Computer Applications in Business This teaches you how to use technology backed solutions to enhance your business processes.
Corporate Legal Environment This teaches you about the legal structure prevalennt amidst the corporate setups.
E-Commerce This course teaches you the core aspects of eCommerce as an industry.
Financial Management, Financial Bank Management This course teach you how to manage finances without hassle. 
Managerial Economics This is a theorical course that focuses on providing information on the economics behind corporate decision-making.
Statistical Analysis This course introduces the fundamental concepts in statistcs and statistical methods in commerce. 
Semester 2
Business Environment This subject hollistically reviews the Indian business environment and its compatibility with the international scenario.
Corporate Tax Planning, Income Tax This course teaches you about the prevalent taxation structions in our country.
Economics of Global Trade and Finance, International Finance This is an international focused course that gives you information about the systems of global trade and markets.
Management Concepts and Organisation Behaviour This helps you understand a few of the core concepts in the manangement of businesses, including organisation behaviour.
Marketing Behaviour This helps you predict how the market will react to your business products or services.
Strategic Management This subject helps you strategise backend and customer-centric business operations in a structured manner. 
Semester 3
Banking and Finance, Commercial Bank Management You will gain knowledge about the BFSI industry and the the theory behind such organisations in this course.
Financial Markets This course teaches you how to understand the financial markets in India and abroad.
Research Methodology in Commerce This course outlines the basic research standards used in the industry today 
Semester 4
Entrepreneurial Management This course elevates your potential to help build your own business reolving around your innate abiltities.
Human Resource Management This course covers all the fundamental aspects of human resource management and recruitment
Investment Management This course outlines all the core theories revolviing around investments and investment markets. 
Projects  This is the phase when you experiment based on your learnings on a practical real world project. 

There may be slight changes from college to college depending on the faculty. Moreover, the following is a table that lists the elective specialisations when pursuing a specialised Master of Commerce degree from any reputed college in India:

  • MCom Accounting and Finance:

This specialisation provides an in-depth understanding of the accounting systems used by the business. The various subjects taught under this include

Indirect Taxation
Insurance and Risk Management
International Financial Management
Business Environment, Modern Banking
Management Accounting
E-Commerce
Corporate Legal Environment
Economics of Global Trade and Finance
Cost Accounting
Accounts Management
Risk Management

  • MCom Taxation:

This degree provides you with information about the taxation systems, taxation policies centred around the corporate world. You will also learn about corporate regulations, registration mechanisms and compliance structures in this course. 

Law of Direct Taxes & Practices,
Income Tax Act, Assessments
Registration
Returns Recovery of Tax Refund,
Basic Concepts, Definitions, and Charge of Income Tax Act,
Income from Salaries and House Property,
Gross Total Income Computation
Tax Authorities and Tribunal,
Rebates and Double Taxation Relief,
Business Environment,
Corporate Legal Environment

  • MCom Banking and Finance:

This MCom degree offers two technical specialisations in banking and in financial management. This is a technical specialisation that includes subjects such as bank management, legal banking structures, investment management, financial risk management, debt management, et al. 

Commercial Bank Management
Banking Law and Practices
Legal Framework of Banking
Cooperative Banking System
Financial Risk Management,
Investment Management Analysis
Financial Services
International Financial Markets
Debt Management
Treasury Management
Accounting and Auditing of Banking
Auditing of Banking Sector
Currency Derivatives

  • MCom Marketing:

An MCom in marketing degree contains all the core courses on a general MCom degree along with specialised subjects such as general marketing, retail marketing, consumer behaviour analysis, international markets, among others. It is similar to pursuing an MBA in Marketing. 

General Marketing
Service Marketing
International Marketing
Service Marketing
Consumer Behaviour
Retail Management
Marketing Channels
Market Research
Ethics of Marketing
E-Commerce

  • MCom Financial Management:

This is one of the most technical specialisations offered under the MCom regime. Following are the subjects

Business Management
Business Environment
Business Economics
Entrepreneurship Development
E-Commerce Management
Human Resource Management
Financial Management
Quantitative Methods for Business
Financial Accounting & Packages
Marketing Management
Quantitative Techniques for Business 
Information Technology for Business
Banking Law and Practices
Bank Management
Financial Derivatives
Advanced Banking
Insurance Actuarial
Insurance Products & Management
Insurance & Risk Management
Portfolio Management
Banking & Technology
Financial Markets & Services
Principles of Life Insurance
Security Analysis and Investment Management

  • MCom Business Management:

This degree is centred around managing business operations. Although the course subjects are similar to an MBA, this course is highly academic. You will learn the fundamentals of business management along with the role of commerce. Subjects like business economics, corporate finance, and strategic management are central to this course. 

Strategic Management
Economics for Business Decisions
Cost and Management Accounting
Business Ethics and Corporate Social Responsibility
Corporate Finance
Research Methodology for Business
Economics for Business Decisions
Strategic Management
E-Commerce
Macroeconomics Concepts
Human Resource Management
Entrepreneurial Management
Marketing Strategies and Practices
Organisational Behaviour
Advertising and Sales Management
Supply Chain Management
Rural Marketing
Retail Management
Tourism Management
Management of Business Relations

  • MCom Computer Applications:

This course is a specialised one. It includes commercial courses and prioritises the use of technology in doing so. You will learn about the working of an online business or trade and the best practices in using technology to make business processes seamless. 

Fundamental of Computers
E-Commerce
Management Accounting
Financial Management
Banking Practice
Management Concept
Financial Accounting
Internet and its Applications
Office Automation Lab
E-Commerce
Internet and Web Designing
Cost Accounting using Technology
Banking Theory
Banking Laws
Business Organisation
Business Accounting Software
Project Finance
Advanced Corporate Accounting
Marketing of Finance Services

Best Books for MCom

Here is a list of the best books to follow if you are planning to pursue a MCom degree in India:

Book Name Author/Publisher
Master of Commerce for All Entrance Exams Vijay N. Kothari 
Unique Publications 
How Finance Works: The HBR Guide to Thinking Smart About the Numbers Mihir Desai
Harvard Business Review
Understanding Taxes In India  Ram Dutt Sharma Commercial Law Publishers India 
Law Relating to Computers, Internet and E-Commerce Ramnath Kamath
Universal Publishers India
Business Tax Assessment and Planning Avaghade Mahendra Ramchandra, Doke Ajinath Maruti, Nagare Ramesh Bhaupatil
Nirali Publishers
Strategic Management Pradeep Kumar Sinha
Nirali Publishers
Capital Market And Financial Services Mahesh Kulkarni
Nirali Publishers 
Financial Analysis And Control Suhas Mahajan
Nirali Publishers
Principles & Practices of Banking 2021  IIBF
Macmillan Publishing
Business Economics (Macroeconomic Analysis) H L Ahuja
S. Chand Publishers
Organisational Behaviour: Text and Cases Kavita Singh
Vikas Publishers
Modern Marketing Principles Practices R S N Pillai
S. Chand Publishers
International Business: Competing in the Global Marketplace  G. Tomas M. Hult
McGraw Hill
HR from the Outside In: Six Competencies for the Future of Human Resources Dave Ulrich, Jon Younger
McGraw Hill
Business Laws PPS Gogna S. Chand Publishers

However, there are many other books you can choose from depending on your preferred specialisations and type of reading. These books help you understand MCom as a course and Commerce as a field of study better.

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