Business accounting and Taxation course in Chandigarh is designed to give you in depth understanding of accounting and taxation rules.

Business accounting is the process of recording, analyzing, and interpreting financial transactions of a business. It involves preparing financial statements, such as income statements, balance sheets, and cash flow statements, to provide a clear picture of a business’s financial performance. Understanding accounting principles is essential for any business owner or manager to make informed decisions. Taxation is the study of the tax system and the regulations that govern it. It includes understanding the different types of taxes that businesses may be subject to, such as income tax, sales tax, and payroll tax. Knowledge of tax laws and regulations is necessary for businesses to ensure compliance and minimize their tax liabilities.

Join Business accounting and Taxation course in Chandigarh with GB training & placement centre.

Course content

Chapter 1. Fundamentals of accounting

• Introduction
• Accounting Terms
• Accounting Assumptions, Concepts and Principles
• Assumptions
• Concepts
• Principles
• Double Entry System of Accounting
• Types of Accounts
• The Golden Rules of Accounting
• Source Documents for Accounting
• Recording of Business Transactions
• The Accounting Equation
• Recording of Transactions in Books of Original Entry/Journal
• Use of Debit and Credit
• Rules of Debit and Credit
• Recording of Business Transactions in Journal
• Ledger
• Need for Ledger
• Differences between a Journal and a Ledger
• Classification of Ledger Accounts
• Posting from Journal
• Trial Balance
• Methods of Preparation
• Subsidiary Books & Control Accounts
• Cash Book
• Single Column Cash Book
• Double Column Cash Book
• Three Column Cash Book
• Petty Cash Book
• Purchase (Journal) Book
• Purchases Return (Journal) Book
• Sales (Journal) Book
• Sales Return (Journal) Book
• Journal Proper
• Control Accounts
• Financial Statements
• Trading and Profit & Loss Account
• Trading Account
• Profit & Loss Account
• Balance Sheet
• Types of Assets and Liabilities included in a Balance Sheet
• Key Takeaways

Chapter 2. Tally Prime

• Introduction
• Getting Started with Tally Prime
• Mouse/Keyboard Conventions
• Company Creation
• Shut a Company
• Select a Company
• Alter Company Details
• Company Features and Configurations
• F11: Company Features
• F12: Configuration
• Chart of Accounts
• Ledger Group
• Ledger Creation
• Single Ledger Creation
• Multi Ledger Creation
• Altering and Displaying Ledgers
• Group Creation
• Single Group Creation
• Multiple Group Creation
• Displaying Groups and Ledgers
• Displaying Groups
• Display of Ledgers
• Deletion of Groups and Ledgers
• Key Takeaways

Chapter 3. Maintaining Stock Keeping Units (SKU)

• Introduction
• Inventory Masters in Tally Prime
• Creating Inventory Masters
• Creation of Stock Group
• Creation of Units of Measure
• Creation of Stock Item
• Creation of Godown
• Defining of Stock Opening Balance in Tally Prime
• Stock Category
• Reports
• Key Takeaways

Chapter 4. Recording Day-to-Day Transactions in Tally Prime

• Introduction
• Business Transactions
• Source Document for Voucher
• Recording Transactions in Tally Prime
• Accounting Vouchers
• Receipt Voucher (F6)
• Contra Voucher (F4)
• Payment Voucher (F5)
• Purchase Voucher (F9)
• Sales Voucher (F8)
• Debit Note Voucher
• Credit Note (Ctrl+F8)
• Journal Voucher (F7)
• Key Takeaways

Chapter 5. Accounts Receivable and Payable

Chapter 6. MIS Reports

• Introduction
• Trial Balance
• Balance Sheet
• Profit and Loss Account
• Cash Flow Statement
• Ratio Analysis
• Books and Reports
• Day Book
• Receipts and Payments
• Purchase Register
• Sales Register
• Bills Receivable and Bills Payable
• Key Takeaways

Chapter 7. Goods and Services Tax (GST) in Tally

• Introduction
• Goods and Services tax (GST)
• Key Takeaways

Chapter 8. Recording Vouchers with TDS (Tax Deducted at Source)

• Introduction
• Basic Concepts of TDS
• TDS in Tally
• Activation of TDS Feature in Tally Prime
• TDS Statutory Masters
• Configuring TDS at Group Level
• Configuring TDS at Ledger Level
• Booking of Expenses in Purchase Voucher
• TDS Report