Today, commerce and business education is the second most attractive degree course after engineering. This is due to the quick placement and attractive salary obtains by the candidates. Employers prefer commerce graduates because conceptual/theoretical knowledge of business which is useful to the organizational activities and recruitment of such commerce degree candidates reduces the cost of training. To make it more attractive and practice oriented, our college has started a Commerce Laboratory and demonstrate the business activities.
The Commerce laboratory is a new concept, wherein students practice their theoretical knowledge gained in the classroom. In addition students carry on more and more experiments. Mock commerce and business activities are undertaken in laboratory. By this method of learning and practicing, candidates will develop self confidence of running a business profitably and understand the practical difficulties.
Role and Functions of Commerce Lab
- To provide practical exposure of the process, Procedure and practices followed by the organization in conducting commercial practices/businesses and expose the students with all forms/formats/ formalities.
- To provide practical orientation to students while teaching the subjects according to the syllabus by linking it with the Lab practical.
- To improve reasoning and analytical abilities of the students
- To create more interest among the students on the subject
- To make the students aware of availability and applicability of commerce documents for their day to day routine purposes.
- To equip the students with practical knowledge and develop entrepreneurial abilities to start own business or to get employment in the competitive job market
- To prepare the students to fulfill the requirements of industry and business
List of Documents Displayed In Commerce Laboratory
- List of items used in the day to day banking(Forms, Formats, Challans,Vouchers and RBI guidelines)
- Deposits –Types (Forms/Challans/formats)
- Loans –Types (Forms/Challans/Formats)
- Financial Services- Including Foreign exchange remittances of Banks, Money exchanges/Western Money/MoneyGram) and Bancassurance etc. (Forms/Formats/Challans)
- E-Banking services(Forms/Formats/Challans)
- Accounting Vouchers and Computerized accounting manuals;
- Auditing (Forms/Formats/Challans)
- Taxation (Income tax, e-tax returns, Service tax and VAT Forms/Formats/Challans)
- Insurance (Life and General both) Business related – Forms/Formats/Documents.
- Sole trader related document copies.
- Partnership Business related document copies.
- Joint stock Company (Formats/Certificates/Documents).
- IX. Stock Exchange related –Forms/ formats and documents.
- Societies, Trusts related documents.
- Mutual Funds and investments related – Forms/formats.
- Foreign trade (export and import documents).
- Protection of Consumer rights (Forms and documents).
- Tours and travel documents (Forms/formats).
- Transport and ware-house documents.
- Small Business registration documents.
- Marketing and Advertising brochures/pamphlets/documents.
- Legal documents and Acts copies, including Right to Information Act.
- Annual Reports/Annual Accounts Reports of Companies.