How Important are Practical Skills?

What is most important for a Finance/ Accounting student?
Knowledge of Theoretical concepts or knowledge of how to apply this theory into practice?

In today’s world, learning how to implement the theory is a biggest challenge for any student. This goes for an accounting student as well. A commerce student learns all about the theoretical aspects of Accounting in the class room but later on when he/ she takes up a job it will be a biggest challenge for him/ her to link whatever he/ she has learned to practical scenarios.

FAME Training Institute focuses on this aspect of Practical Accounting. FAME bridges the gap between the theoretical understanding and knowledge given by the schools/ colleges with the practical need of business in terms of accounting using software’s in business environment.

practical skills

 

With a clear focus in mind, in order to make students aware of the importance of Practical Accounting Skills, FAME Training Institute addressed Grade 11 (both Boys and Girls Section) of New Indian Model School on 16th July 2015.

The session was delivered by Ms. Delma D’Silva – Faculty, FAME Training Institute and Mr. Udit Chokshi – Faculty, FAME Training Institute. The session covered topics like Concept of Accounting, Accounting Terminologies, Accounting Cycle and many more. A practical hands on experience exercise was also shared with the students to impart practical skills and to help them understand how a particular transaction impacts the Income Statement and the Balance Sheet of the company.

The session was very fruitful and the students were very enthusiastic during the Q&A Session. The management of New Indian Model School appreciated the efforts of FAME Training Institute and congratulated FAME for an amazing session. One of the student shared that practical skills are highly critical for any competitive exams and understanding the importance of Practical implication of Accounting is very beneficial for success in Finance/ Accounting career.

About the author

FAME is a leading Accountancy training provider. FAME brings together under one roof a wide range of accounting courses blended with real world experience and practical application. FAME aims to bridge the gap between theoretical knowledge and practical challenges that accountants face in their day to day working. We provide practical workplace skills for finance staff meeting the needs of employers, bankers, government and learners, both now and in the future. Our students are integral to the success of an organisation and at the heart of ensuring the smooth running of an accounting department.