Practical Accounting Training

Practical Accounting Training
Duration : 30 Days

Objective of the Course

Accounting is a vital part of every business. While tracking income and assets over time, accountants engage in a wide range of activities which include, but are not limited to, tracking Financial Performance, TAX Strategies and Quality Management. The course will help the participants equip with the most advanced Techniques and Tools in Accounting and Management Control that fosters their ability to translate and implement the strategic objectives through Accounting and Control System.

 

Course Objective

After the completion of the course the participants will be able to:

  • Explain fundamental Accounting Concepts and Elements of Financial Statements
  • Explain the basic features of Accounting and Reporting by Organizations
  • Prepare basic entries for Business Transactions and present the data in an accurate and meaningful manner
  • Prepare basic Financial Statements and explain the articulation between the Basic Statements
  • Explain and use the Accounting Equation in basic Financial Analysis and explain how the equation is related to the Financial Statements
  • Explain the issues of ethics in Financial Accounting and Reporting.

 

Methodology

  • Multi-Media Presentations
  • Intensive Trainer and Trainee Interactions
  • Practical Implementation of Accounting Theory
  • Simulation of Accounting and Book Keeping of Various Types of Business Entities

 

Special Features

  • Theoretical as well as Practical Classes
  • Instructed by Chartered Accountants
  • 100 % Placement Assistantship
  • Free Resource Materials

 

Content of the Course

Part A:

  • Introduction
  • Debit and Credit Rules
  • Accounting for Assets, Liabilities, Income, Expenses and Capital
  • Nature and types of Business
  • Preparation of Invoice
  • Preparation of Vouchers
  • Ledger Posting.
  • Preparation of Adjustment Entries
  • Rectification Entries
  • Opening Entries
  • Closing Entries
  • Adjustment Entries
  • Debit and Credit Notes
  • Accounting for Salary/Payroll Processing
  • TDS on Salary
  • Preparation of Salary Sheet and Accounting
  • Accounting for Fixed Assets
  • Accounting for Purchase and Disposal
  • Maintenance of Fixed Assets Register
  • Calculation of Depreciation
  • Control of Fixed Assets
  • Accounting for Inventory
  • Accounting for Consumption of Inventory
  • Function of Store Keeper
  • Preparation of Bin Card
  • Store Reconciliation
  • Accounting for Cash Transaction
  • Accounting for Receipt of Cash
  • Accounting for Payment of Cash
  • Petty Cash and its Accounting
  • Accounting for Transaction done through Bank
  • Concept of Various types of Bank Account
  • Concept of various types of Cheque
  • Maintenance of Bank Account
  • Preparation of Bank Reconciliation Statement
  • Registration of Business as
  • Proprietorship
  • Partnership
  • Company
  • Registration Under
  • PAN and VAT
  • Value Added Tax
  • Introduction
  • Maintenance of books of Accounts under VAT Act
  • Purchase Book
  • Sales Book
  • VAT Account
  • Filing of Returns
  • Payment of VAT and VAT Return Claim
  • Income Tax
  • Income from Salary
  • Calculation of TDS on Salary
  • Income from Business and Profession
  • Tax Deduction at Source (TDS)
  • Submission of Returns through Electronic Means (E-returns)
  • Return Filing and Payment of Income Tax
  • Preparation of Trail Balance
  • Preparation of Financial Statement
  • Profit and Loss Account
  • Balance Sheet
  • Cash Flow Statement
  • Change in Equity
  • Notes to Accounts
  • Analysis and Interpretation of Financial Statement

 

Part B:

  • Basic Concept of Nepal Accounting Standards, NFRS and IFRS
  • Budgeting : Fiscal Budget Plan, Preparation and Implementation
  • Fundamentals of Letter of Credit (LC ): Accounting Treatment Process& Documentation
  • Financial Statements & Their Analysis: Financial Management in General
  • Financial Statement (Normal & Projected ) and Balance Sheet: Practical Overview
  • Income Statement, Equity & Statement of Cash Flows
  • Earnings, Financial Reporting & Analysis of Financial Management
  • Preparation & Implementation of Accounting and Financial System
  • Loan& Accounting: Loan Proposal, Calculation of Loan, Interest & Installment Payment
  • Procurement System: Tender and Quotations
  • Concept of Audit and Various Types of Audit Reports

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