The Commerce Department introduced commerce lab as a part of the curriculum and assessment to expose the commerce students to the practical knowledge and environment. In the Commerce lab, students practice their theoretical knowledge gained in the classroom. 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 few activities undertaken in the commerce lab are:
- Display Photos of the successful business icons
- All kinds of forms used in banks, insurance, Tax Departments etc. like Pay-in-slip, NEFT, RTGS forms, Account Opening Form, Debit, Credit, ATM cards are shown to understand the rules and regulations applicable to them and the procedure for applying. Students will be asked to fill such forms.
- Prospectus, Share Certificates, Debenture Certificate, Memorandum of Association, Articles of Association, Annual Reports, Director/Chairman’s Reports, Audited Balance Sheets, Profit and Loss Accounts etc., of the various companies, which help students to study, compare, evaluate and analyze the financial position are kept
- Financial Bills like Bills of Exchange, Promissory Notes, Quotations, D.D. Cheques etc, are kept
- Prospectus regarding Professional Educational Courses like CA, ICWA, CS, MBA, PG & other Higher Educational Courses redisplayed to help them to choose the courses of study.
- Students are thought e-filling of income tax returns.
- Online Stock Exchange activities are shown to the students by which they can understand the mechanism of Share Market.
- Mock Meetings, Interviews, Group Discussions, are practiced in the lab, which will facilitate them to develop Communication, Participation and Presentation Skills.
- Preparation of charts by students on commerce related topics.
- Display of latest information/news on the notice board
The above list is sample activities to be done in the lab. A creative teacher can develop number of activities to suit the present business situations.
