In order to meet the challenging needs of Corporate Environment, it is not just sufficient for students to be theoretically sound, they must also be exposed to the external world in a dynamic way to face practical situations. Commerce Lab aims at stressing the importance of practical application of knowledge gained through theory. It helps students and staff members keep abreast of the latest developments in the business World.
Commerce Lab has been inaugurated on (Date) lauded the effect of management in establishing Commerce Lab and provide much needed practical exposure to students in the field of Trade, Business and Commerce complementing academics.
Established Commerce Lab in (Date) to provide practical exposure on Trade, Commerce & Industry on daily basis. Group discussions are initiated and conducted on current topics.
Today, commerce and business education are 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.
In association with (various institutions), students provided online trading practice.
- STOCK EXCHANGE
- HIGHER STUDIES
- CORPORATE AFFAIRS
- DIGITAL DISPLAY BOARD
- ONLINE FILLING OF IT FORMS, BANKING CHALLANS ETC
- MOU WITH NATIONAL STOCK EXCHANGE (NSE).
COMMERCE LAB ACTIVITIES:
1. Practical orientation to students on matters relating to Banking, Insurance, Taxation, Foreign Trade, Corporate affairs, Stock exchange etc. by the faculty and resource persons
2. Online entry of forms / IT Returns through power point presentation
3. Digital display of latest information such as currency exchange rates, bullion rates, wholesale price index, bank deposit & loan rates of interest, stock exchange rates and any other current relevant information
4. Preparation of Charts, Models, News Letters by students for display
5. Everyday group discussions on current issues
6. Conduct of quiz competitions, poster competitions, innovative competitions etc
7. Interaction with the peers from other institutions
8. Enacting programmes on mock banking, insurance, taxation etc
9. Conduct of mock Annual General Meeting
10. Display of latest information in the Notice Board / Display Boards
11. Conduct of inter-departmental and inter-collegiate competitions
12. Discussion / Interaction on current issues
13. Providing valuable tips / information on career prospects (jobs & higher studies)
14. Showing online stock exchange activities
15. Organising exhibitions
16. Inviting non-commerce students to visit the lab for exposure
17. Conduct of Commerce Lab Day
18. Conduct of Practical tests
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 fulfil the requirements of industry and business
LIST OF DOCUMENTS DISPLAYED IN COMMERCE LABORATORY
- List of items used in the day-to-daybanking (Forms, Formats, Challans, Vouchers and RBI guidelines)
- Deposits –Types (Forms/Challans/formats), Loans –Types (Forms/Challans/Formats)&E-Banking services (Forms/Formats/Challans)
- Accounting Vouchers and Computerized accounting manuals;
- Taxation (Income tax rates, Exempted Income Under Sec(10) and GST Rates
- Insurance (Life and General both) Business related – Forms/Formats/Documents.
- Mutual Funds and investments related – Forms/formats.
- Foreign trade (export and import documents).
- Protection of Consumer rights (Forms and documents).
- Transport and ware-house documents.
- Marketing and Advertising brochures/pamphlets/documents.
- Legal documents and Acts copies, including Right to Information Act.
- Annual Reports/Annual Accounts Reports of Companies.