Duration: 3 MONTHS

Course Syllabus


Course Duration: 3 Months

Course Description:
This course provides an in-depth understanding of the fundamentals of accounting and taxation as per Indian regulations. Participants will learn basic accounting concepts, including financial statements, accounting systems, and the accounting cycle. They will also gain an understanding of taxation principles, including tax laws, tax planning, and tax compliance specific to India.

Week 1-2: Fundamentals of Accounting - Recording of Financial Information

  • Introduction to accounting principles and concepts
  • The accounting cycle and the role of the accountant
  • Recording transactions: accounts payable, accounts receivable, and inventory
  • Preparing journal entries and adjusting entries
  • Understanding the chart of accounts
Week 3-4: Processes in a Corporate Environment
  • Accounting systems and software
  • Financial reporting and analysis
  • Internal control and audit
  • Budgeting and forecasting
  • Financial statement analysis
Week 5-6: Analysis of Financial Information

  • Understanding financial statements: balance sheet, income statement, and statement of cash flows
  • Analyzing financial statements: ratio analysis and trend analysis
  • Cost accounting: cost behavior, cost-volume-profit analysis, and budgeting
Week 7-8: Presentation of Financial Information

  • Financial reporting: preparing financial statements
  • Financial statement disclosures and footnotes
  • Financial statement analysis: cash flow, profitability, liquidity, and solvency
  • Indian Accounting Standards (Ind AS) and Generally Accepted Accounting Principles (GAAP) in India
Week 9-10: Taxation Principles

  • Introduction to tax laws in India: Income tax Act, 1961 and Goods and Services Tax Act, 2017
  • Income tax: computation, returns, and compliance
  • Tax Deducted at Source (TDS): rates, exemptions, and compliance
  • Service Tax: rates, exemptions, and compliance as applicable in India
Week 11-12: Sales Tax

  • Sales tax: computation, returns, and compliance as applicable in India
  • Value-added tax (VAT): rates, exemptions, and compliance as applicable in India
  • Goods and Services Tax (GST): introduction and compliance as applicable in India
Importance of Learning:
  • The subjects covered in this course are crucial for anyone who wants to work in finance or accounting in India. A solid understanding of accounting principles, including financial statements and accounting systems, is necessary for any financial analysis or reporting. An understanding of taxation principles is essential for individuals and businesses to minimize their tax liabilities and to comply with tax laws in India. Additionally, learning about the latest trends and updates in the field of accounting and taxation specific to India will enable participants to stay ahead of the curve in their respective professions in India.
Note: This course outline is flexible and can be modified as per the needs and requirements of the learners.
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