"The art of recording , classifying and summarizing , in a significant manner and in terms of money , transaction and events which are, in part at least, of financial character, and interpreting the result thereof."
The three important aspects of accounts have been highlighted by the above definition.
1.Account as an Art & science.
2.Accounting is done for Business transaction.
3.Accounting is a system.
This course is the basic concepts of financial accounting systems. Several important concepts will be studied in detail, including: revenue recognition, inventory, long-lived assets, present value, and long term liabilities. The course emphasizes the construction of the basic financial accounting statements - the income statement, balance sheet, and cash flow statement - as well as their interpretation.some of the topics are given below.
1.Managerial Accounting
2.Financial Accounting
3. Cost Accounting
4.Tax Planning and Administration
5.Auditing
6.Financial Statements: Analysis & Reporting Incentives
7.Taxes and Business Strategy
Basic concepts; classification of accounts; cash book, BRS, trial balance with adjustment; final accounts; basic concepts of budget; overview of company accounts and partnership accounts.
Introduction and application of Tally and FACT, Account Masters, Inventory Masters, Inventory accounting; advance Inventory Masters; Voucher Types & accounting; Accounting Reports; Inventory Report; Final Account; Printing & Security Control; Import & Export Data; E-Capabilities, TDS and other accounting reports.
Accounting principles, rules, preparation of day to day transactions, preparation of all type of books of accounts, BRS, different type of Adjustment, preparation of final accounts under schedule VI followed by accounting standard, Preparation of Cash Flow, Payroll and Form 16 computations, preparation of VAT accounting with payment procedure.
Personal Balance Sheet, Manufacturing & Stock Accounts / Cost Sheet Preparation, Back Calculation and Ratio Analysis etc.
Banking & Finance: Concepts and Rules, System, Transactions (RTGS/NEFT), Deposit, Debit / Credit Card Transaction, Term Loan, Over Draft, Cash credit, Interest Calculation, Project report, procurement of loan.
Audit: Concept of Audit—Multi dimensional aspect, Procedure, Verification, concept of standard & assurance.
Income Tax: Computation of Total Income (Corporate & Individual), Advance Tax, TDS, Assessment procedure, E-filing, E--TDS, MAT, Different type of forms, Challans, Returns, Filing procedures etc.
Tax Planning: Adjustment, Refund procedure, TDS certificate, Tax Planning tools, Exemptions/ Deductions, Reliefs, Tax Management, etc.
VAT & CST: Basic Concept, Registration procedure, Computation, Different types of Forms, Challans, Returns, VAT Adjustment, VAT Audit, etc.Service Tax: Registration, Returns, e- filing, Challans, Payment Procedure.Professional Tax: Basic Concept, Statutory requirements, All forms, All Challans and Payment procedure.
PF, ESI: Basic Concept and Statutory requirements, Payment and Assessment procedure, elaborate work with all forms, Challans and Return Submission, E- filing, Bonus, Gratuity etc.