Among many commerce careers CA, ACCA and CPA are considered to be tough. These courses necessarily require dedication and serious effort on the part of commerce students. Articleship or practical experience is a vital part of these courses. And as CA, CPA we suggest students to take these 3 years as an opportunity to test the practical aspect of everything learned in theory.
So, are you putting in the same effort in your articleship that you did in your studies?
If No then this article is for you.
Want to know why Articleship and PER(Practical Experience Requirement) is important for commerce students:
Articleship or PER is an opportunity for commerce students to apply and check concepts practically. You will have the opportunity to confront real-world scenarios.
Practical experience is going to help commerce students in
- Interviews
- Dealing with clients
- Dealing with government authorities
- Developing the right interpersonal skills
- Practical Application in work
Also Read: What are the ACCA job opportunities & salaries across the world?
6 Important things commerce students must observe, grasp & learn about Articleship or PER(Practical Experience Requirement)
1. Dealing Government Offices
Taxation-ITR , legal code of conduct and many other operational matters in business are directly connected to the government. Hence An accountant or auditor is expected to be familiar with all government formalities. And as a commerce student you can learn those during your internship.
2. SOPs of Taxation & Audit
Meeting deadlines is the most important part in any accountants or auditor’s life. As an intern at a CA office you can understand the exact way to work on Taxation & Audit with multiple clients. Commerce students can learn about income tax provisions and laws and efficient ways to work on them in clients’ benefit. There are numerous techniques or methods which one can learn on the job.
3. Documentation & excel skills
Arranging documents in precise sequence and chronology is a skill that can only be learned through practice or by watching someone else do it. Students will also learn Excel and other accounting software. Commerce students can devote time to learning all of these things from experienced individuals at the firm. These systems are used for more than just accounting; they are also used for forecasting and decision making. On their first day of work, commerce students will be expected to demonstrate these skill sets.
4. Communication and interpersonal abilities
For an auditor or accountant interpersonal skill and command over language matters the most. Why do we say so ? Because
- Auditors are in charge of communicating reforms, changes, and mistakes to immediate managers and, in some cases, superiors. As a result, accurate and clear communication is critical.
- Changes that an accountant or auditor anticipates may necessarily involve harsh reforms. It is critical in this case to communicate with them as effectively as possible. Commerce students can learn the essentials of communication from superiors at work or principals. Audit ethics is a vital part which you must observe and learn if you want to be an auditor or accountant.
5. Make mistakes, and don’t be afraid to ask questions
When you are entering into a real work scenario you have an opportunity to work you concepts and solve your doubts. Your seniors will also love to respond to your queries. After all this experience is going to help you during a job interview.
6. Very Very Important do not lose focus from studies during PER or Articleship
Last but never list! Being a student you still have to clear those papers. Do not lose your focus from studies. After all, clearing your exam is the ultimate goal.
Conclusion:
The points we have mentioned here may appear to be very basic to you, but each point is unique and important, with 1000 things to learn beneath it.
Now you know as a Chartered accountancy student what you must do in your internship or articleship.