Not knowing how to write a demand draft or what an expense statement audit entails are a few of the real-world problems which commerce graduates have to face, owing to the gap between theory lessons and practical applications.
Finding a way to bridge the same, the Savitribai Phule Pune University (SPPU) has signed a Memorandum of Understanding (MoU) with the Institute of Chartered Accountants of India (ICAI) to impart job skills to their students.
SPPU Vice Chancellor Dr Nitin Karmalkar said that this is also another way to counter the coming placement season, which is expected to be slower this year.
“The commerce faculty makes up forty percent of our students. We will have placements coming up and we all are anticipating a slowdown there, given the current job market conditions. Hence, we have recently signed a lot of MoUs with organisations for internships and job-related courses… They will help give an edge to our students. Often we see that commerce graduates don’t even know the basics of banking, accounts and such. The ICAI has a country-wide network of professionals and getting our students placed under practising CAs will open more doors for them, ” he said.
Besides providing students with internship opportunities, the MoU aims at providing skill-oriented education to students, conducting faculty development programs for staff and enhancing skill sets of students through webinars and seminars.
CA Nihar Jambusaria said that while the MoU will help students work in companies while learning, it will also help practising CAs in pursuing post doctoral education.