Bachelor of Commerce

An internship programme on domestic taxations is offered to Final year B.Com Students by Ascent Consulting Services. The students were trained and allowed to work on “Domestic Taxation”- payroll processing, income tax verification, gratuity calculations, PF calculation, IT computation. The students were offered a stipend of Rs. 9000 p.m. Nearly 15 students got selected for the internship however 6 students completed one month internship program from 10th December 2018 to 10th January 2019.

One Day Industrial Visit to Mysuru
The dept. of commerce organised one day industrial visit to Mysuru on 11 Sept 2018 in association with M.N Tours and Travels. There were around 114 students of Final year B.Com who participated and were escorted and guided by department faculties S.Umarani, Punitha.M.L, Shwetha, and Dr.Prabhamani, librarian and Mamatha office assistant. The trip was intended to educate the students about the different process involved in the production of Sugar by visiting sugar industry in Mandya and also visited silk factory KSIC in Mysore. The student felt that trip was memorable and refreshing which fulfilled objectives of education. The trip as a whole was successful for the students and they were thankful to the Management for the granting the permission and the Principal Prof. K Renuka Devi for supporting such initiative.

The expert talks on GST, is proposed to be a comprehensive indirect tax on Manufacture, Sale and Consumption of goods as well as services at the national level. It replaces all indirect taxes levied on goods and services by the Central government and state government. The Seminar focused on explaining the concepts of GST and its evolution in India. Then it discussed the silent features of GST and how does it works. It highlights the benefits of the GST, how it is levied. How it avoid the cascading effects and latest technology adopted by the GSTN. Etc.

The Expert talk on corporate Accounting subject on the topic “profit prior to incorporation” provides a close view on meaning, calculation of sales ratio, time ratio, weighted ratio, treatment of capital and revenue expenditure, ascertainment of pre-incorporation and post-incorporation profit by preparing profit & loss account and Balance sheet. The session also covers actual solving of problems from examination point of view students find very interesting in understanding methodology of accounting procedure.

Investment in long lived assets such as property plant and equipment are very important elements in many companies balance sheet. INDAS 16 describes to accounting treatment for property plant & equipment. During the seminar the principal issues like recognition of Assets, determination of their carrying amount, depreciation changes and their impairment losses have been discussed with accounting principles of IFRS along with suitable examples which are very useful for the final year students.