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The Department Of Commerce organized a field trip for the B.Com I yr (Gen, Advt) students on 31-10- 09. The main purpose of the visit was to give practical demonstration of a few concepts concerned to the subjects Financial Accounting, and Business Organization and Management. In Financial Accounting the following topics were dealt with:
Differentiation of Direct and Indirect Expenses, valuation of Material viz. Raw material, Work in – Progress and finished Product which form the prime cost in the Cost Sheet preparation and various other expenses which form part of Manufacturing Account. In Business Organization and Management the hierarchy levels of management in the organization was dealt with.
For this purpose, a construction industry was taken as an example and about 75 students along with 4 lecturers visited Meenakshi Infrastructure Pvt.Ltd, at their one of the ongoing project sites, located in Gachibowli. After the initial introduction about the firm, the students were divided into batches and shown around. The incharge Supervisor explained the students, the managerial levels of the firm. There are three projects going on at the site simultaneously – an IT Park, Apartments, and Independent Villas. All the three Projects are supervised by the Works Manager who works directly under the General Manager of the firm. There are three Project Managers under the Works Manager one for each project, who look into the day to day work going on at the site. Each Project Manager is assisted by Engineers appointed for different purposes. There are overall 80 engineers working on the site. Each Engineer is assisted by a supervisor. The supervisor looks into the arrangement of material, transportation and labour. The Labour is further Categorized into skilled and unskilled labour.
Apart from the subject knowledge the students also showed keen interest towards the technical aspects, as to the working of the RMC Plant and the testing procedures in the Quality Control Lab. The RMC Plant as per the information given was worth Rs.70 lakhs and is imported from China. It has two towers with a capacity of holding 100 tonnes of cement. The mechanical engineer informed that the plant produces around 167 trucks of concrete per month and the cost incurred to produce concrete for one day is Rs.10 lakhs. Producing concrete at the site is cost effective and also time saving. At present there are 35 workers and 1 Mechanical Engineer working on the RMC Plant. Here the students also got to know (effect of recession on Construction Industry), that due to recession, the work has actually slowed down. Earlier there used to be 100 workers working at the Plant which has now fallen to 35.
The students were then taken to the Quality Control Lab. Here they were shown Two Testing Procedures done in the lab. One of the them was to test the strength/quality of the concrete blocks. The concrete produced at the RMC Plant is put into cubical moulds and allowed to dry. The dried blocks are then soaked in water for 28 days and then taken to the Quality Control Lab where they are tested on a CTM (Compressive Testing Machine) to check the amount of pressure the block can withstand. The cost of testing 6 sets comes to Rs.2000 which is treated as Direct Expenditure.
The most fascinating part for the students was the model Independent villa (costing Approx. Rs.5 Crores) which is constructed with all the modern amenities. The interiors, architecture and the ambience around the villa was quite impressive.
This informative visit came to an end with photo session and planting of a sapling outside the site by twostudents.
As Reported by Harshita and Nisaruddin (B.Com Advt)
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