Accounting & Taxation

This course provides students with an introduction to the essential principles, theories, and techniques of accounting and taxation using SAP. It explores the role of accounting and taxation in businesses, its development, and its importance in contemporary business environments. The course also covers topics such as business accounting, income tax, TCS, TDS, GST, and SAP S/4 HANA finance.

Course Modules:

• BUSINESS ACCOUNTING
• Introduction
• Legal Entities
• Accounting Terms
• Types of accounts & Golden rule of accounting
• Accrual Concept
• Accounting Cycle
• Source Documents
• Journal Entry
• Ledger Accounts
• Trail Balance
• Trading and profit and loss account
• Balance sheet
• Adjustments: Outstanding expenses
• Adjustments: Prepaid income
• Adjustments: Accrued income
• Adjustments: Income received in advance
• GST Accounting
• TDS & Advance Tax Accounting
• Income Tax Accounting
• Bank Reconciliation
• INCOME TAX
• Introduction
• Persons and Tax rates
• Heads of Income
• Basics of Profits & Gains from business or profession
• Residential status
• Tax Deducted at Source(TDS)
• Due dates – TDS Payment and TDS Return
• TDS Certificate
• Applicability of TDS on Payments
• Advance Tax
• Tax Collected at Source (TCS)
• GST
• Introduction
• Supply
• Schedules
• Place of Supply
• Time of Supply
• Value of Supply
• Input tax Credit
• Reverse Charge Mechanism under GST
• Levy and Collection Under GST
• Invoicing
• Credit note and Debit note
• Composition Scheme
• E –Way Bill
• GST Returns
• TALLY PRIME
• Introduction
• Tally Prime V/S Tally ERP 9
• Installation & Activation
• Company Creation, Alteration & Deletion
• Migration from Tally ERP 9 to Tally Prime
• Load Company on Start up
• Masters
• Vouchers
• Bill Wise Details
• Point of Sale
• Cost Category & Cost Centre
• TDS
• GST Enabling
• Manufacturing Journal & BOM
• Cheque Register
• Multi-Currency
• Control User Access & Tally Vault
• Export & Printing
• Job Costing
• Payroll
• Bank Reconciliation

Learning Outcomes:

• Understanding of essential principles, theories, and techniques of accounting and taxation using SAP FICO.
• Ability to apply accounting and taxation principles to real-world business scenarios.
• Proficiency in using SAP S/4 HANA finance for accounting and taxation purposes.
• Knowledge of business accounting, income tax, TCS, TDS, GST, and their application within SAP FICO.
• Development of strategic thinking and problem-solving skills in the context of accounting and taxation.
• Effective communication and collaboration within accounting and taxation teams, especially when using SAP FICO.