One of the best ways to stand out from the crowd is to make yourself knowledgeable. Copy pasting what you read in a book to your brain will not help you much unless you know how to implement the knowledge you have within. There comes the relevance of practical training.
Accounting and Taxation being two core subjects, understanding them in depth with clarity requires a dedicated practical training. The knowledge we acquire from books provide examples containing perfect scenarios but in reality what happens is one may be attacked with immense number of situations at a single time. A person choosing a career in accounts and tax will have to get used to dealing with such scenarios and the only way to make that possible is to go out there into the practical world and get a proper exposure. But this is not always easy, as employers also look for experienced professionals or accountants.
In the current competitive world the major benefit of practical training in accounts and tax is that it puts you one step ahead from the rest and you will have an edge over others. Quite often in interviews, the interviewers look for those candidates who have sound analytical and communication skills and are more independent and competent. Training provided with an exposure to real life scenarios helps one to tackle various types of situations that may even be new to them. This helps companies to hire better competent employees with minimal cost. Students can easily choose the path which is best for them as they obtain practical knowledge in the initial phases itself.
The major drawback of not having a practical exposure is one may not be able to apply his knowledge fruitfully. The basic idea of obtaining knowledge is application. Hence the acquired knowledge would be a waste if proper training is not obtained. Thus Practical training has become inevitable as it can provide as much information and skills as possible to accustom oneself with the real world business and accounting problems.