Track
Financial Accounting
Duration
30 hours
Skill Level
Foundation
Language
English
About this Course
Gain insights into industry dynamics, client interactions, and market trends for creative professionals.
Learning Mode: Learn at ALC or at Home
Detailed Course Curriculum
Hands-on module breakdown aligned with MKCL production standards and industry requirements.
- Course Introduction
- Definition & Utility of Accounting
- Introduction to Accounting
- Method of Accounting
- Financial Accounting Concept
- Basic Books of Accounts
- Recording Transactions
- Manual Accounting System
- Financial Report
- What is a Market Place?
- What are Goods and Services?
- What are the different types of Organization?
- Difference Between Types of Entities
- Purpose of Maintenance of Books of Accounts
- Case Study : Single entry vs Double Entry
- Cash Basis vs Accrual Basis of Book-keeping
- Case Study Cash Basis Vs Accrual Basis of Accounting
- Reports Generated from Book-keeping
- Definition of Accountancy
- User of Accounting Information
- General Transactions - 1 Shop & 1 Service
- General Books of Accounts Maintained by Them.
- General Transactions in a Stationery Store
- Example 1: Books Maintained by the Stationery Store
- General Transactions in a Xerox Shop
- Example 2: Books Maintained by the Xerox Shop
- Understanding Transactions in an Organization
- Meaning of Accounting Principles
- Accounting Concepts and Conventions
- Entity Concept
- Money Measurement Concept
- Going Concern
- Periodicity Concept
- Matching Concept
- Accrual Concept
- Consistency Concept
- Historical Cost Concept
- Prudence Concept
- Materiality Concept
- Realisation Concept
- Dual Effect Concept
- Case study - Accounting Concepts
- Concept of Capital and Revenue Expenditure
- Concept of Capital and Revenue Income
- Case Study - Capital and Revenue
- Golden Rules of Accounting
- Types of accounts
- Golden Rules of Accounting - Real Accounts
- Golden Rules of Accounting - Personal Accounts
- Golden Rules of Accounting - Nominal Accounts
- Recording a Cash sale
- Recording a Credit sale
- Recording receipt from a debtor
- Recording a credit purchase
- Recording Payment for Purchase of Letterheads
- Payment of cash for staff refreshments
- Classification of Accounts
- Case Study : Journal
- Subsidiary Books
- Case Study : Subsidiary Books
- Rectification of errors
- Concept of Book Entries
- What is a Ledger?
- Ledger Posting - Expense a/c
- Ledger Posting - Income a/c
- Ledger Posting - Asset Account
- Ledger Posting - Liability a/c
- Trial Balance and its components
- Case Study: Subsidiary Books and Ledgers
- Ledger Scrutiny
- Ledger Scrutiny - Liability
- Ledger Scrutiny through Trial Balance
- Components of Financial Statements
- Profit & Loss account & its components
- Balance Sheet and its Components
- Notes to Accounts
- Cash flow Statement
- Accounting Standards
- Applicability of Accounting Standards
- Difference between Computerised and Manual Accounting
- Introduction to Tally and other Software
- Example of Financial Statements of Sole Proprietorship
- Example of Financial Statements of Partnership
- Example of Financial Statements of Trust
- Example of Financial Statements of Company
- Example of Financial Statements of Bank
- Introduction - debtors
- Concept of credit period
- MSME Debtors
- Udyam Registration and its Benefits
- Difference between cash discount and trade discount
- Debtor Reconciliation
- Bill-wise entry of debtors
- Ledger scrutiny - debtors
- Concept of credit note
- Introduction - creditors
- Creditor Reconciliation
- Bill-wise entry of creditors
- Ledger scrutiny - creditors
- Concept of debit note
- Presentation of debtors and creditors in the financial statements
- Presentation of debtors and creditors in the financial statements - ITC Ltd
- Credit Rating Agencies - Meaning and Functions
- Inventory
- Components of Inventory
- Books maintained under Inventory
- Stock Register
- Documents used for inventory
- Material Requisition Note
- Delivery Challan
- Goods Received Note
- Documents in case of import of goods
- Valuation of stock
- Cost Sheet
- Manufacturing account
- Process from material to finished goods
- Concept of variable cost
- Concept of fixed cost
- Contribution
- Sample documents
- Cost sheet
- Case study - cost sheet
- ABC Analysis in Inventory Management
- History of Tally
- Importance of Tally in accounting
- Tally ERP 9 Vs Tally Prime
- Tally Prime Setup - Download
- Tally Prime Setup - Installation
- Tally License Information
- Tally Prime Interface - Select Company
- Tally Prime Interface - Manage Options - Other Buttons
- Tally Prime Interface - Manage Options - F1 Help Button
- Company Creation in Tally Prime - I
- Company Creation in Tally Prime - II
- Company Feature in Tally Prime - Accounting Feature
- Company Feature in Tally Prime - Inventory Feature
- Company Feature in Tally Prime - Taxation & Other Feature
- Gateway of Tally Introduction - Menu Options - I
- Gateway of Tally Introduction - Menu Options - II
- Gateway of Tally Introduction - Main Screen
- Gateway of Tally Introduction - Main Screen - II
- Accounting Group Introduction
- Accounting Group & Sub Group Creation I (Income & Expenses)
- Accounting Group & Sub Group Creation II (Assets & Liabilities)
- Accounting Group & Sub Group Alteration/Deletion
- Accounting Ledger Introduction
- Accounting Ledger Creation - I
- Accounting Ledger Creation - II
- Accounting Ledger Creation - III
- Accounting Ledger Alteration/Deletion
- Stock Group Introduction
- Stock Group Creation
- Stock Group Alteration / Deletion
- Stock Category Introduction
- Stock Category Creation
- Stock Category Alteration / Deletion
- Unit of Measurement Introduction
- Unit of Measurement Creation - Simple & Compound
- Unit of Measurement Alteration/Deletion
- Godown Introduction
- Location Vs Godown
- Godown/Location Creation
- Godown Alteration/Deletion
- Stock Item Introduction
- Stock Item Creation
- Stock Item Alteration/Deletion
- Voucher Types in Tally Introduction
- Voucher Types Creation/Alteration in Tally Prime
- Chart of Accounts in Tally Prime
- Chart of Accounts - Accounting Groups
- Chart of Accounts - Accounting Ledgers
- Chart of Accounts - Voucher Types
- Chart of Accounts - Inventory Masters
- Multi Accounting Master - Introduction
- Multi Accounting Master - Creation
- Multi Accounting Master Alteration
- Multi Inventory Master - Introduction
- Multi Inventory Master - Creation
- Multi Inventory Master Alteration
- Preview of Trial Balance with Master Opening
- Preview of Profit & Loss Statement
- Preview of Balance Sheet with Master Opening
- Treatment of Opening Balance Difference
- Basic Accounting Vouchers used for business Transaction
- Receipt Transaction in Tally Prime - Configuration
- Receipt Transaction in Tally Prime - Booking
- Receipt Transaction in Tally Prime - Cash Receipt
- Receipt Transaction in Tally Prime - Bank Receipt
- Payment Transaction in Tally Prime - Configuration
- Payment Transaction in Tally Prime - Booking
- Payment Transaction - Petty Cash Expenses
- Payment Transaction - Online Payment
- Payment Voucher
- Receipt Voucher
- Contra Voucher Configuration
- Contra Voucher - Cash Deposit
- Contra Voucher - Interbank Transfer
- Receipt Voucher as Contra Voucher
- Payment Voucher as Contra Voucher
- Journal Voucher - Depericiation
- Journal Voucher - Other transactions
- Cash Purchase Transaction - Configuration
- Cash Purchase Transaction - Account Invoice
- Cash Purchase Transaction - Voucher Format
- Credit Purchase Transaction - Account Invoice
- Credit Purchase Transaction - Voucher Format
- Cash Sales Transaction - Configuration
- Cash Sales Transaction - Transaction
- Credit Sales Transaction - Account Invoice
- Credit Sales Transaction - Voucher Format
- Inventory Cash Purchase - Configuration
- Inventory Cash Purchase - Transaction
- Inventory Credit Purchase
- Inventory Credit Purchase with Delivery Charges
- Inventory Cash Sales - Bank Account
- Inventory Cash Sales - Cash Ledger
- Inventory Credit Sales
- Inventory Credit Sales with Delivery Charges
- Debit Note
- Credit Note
- Stock Journal - Material Transfer
- Stock Journal - Material Consumption
- Physical Stock
- Memorandum Voucher
- Optional Voucher Configuration
- Optional Voucher Proforma Invoice
- Financial Statements
- Accessing Trial Balance Report
- Working with Trial Balance in Tally
- Accessing P&L Account Report
- Working with P&L Report in Tally
- Accessing Balance Sheet Report
- Working with Balance Sheet Report in Tally
- Accessing Stock Summarry Report
- Working with Stock Summarry Report
- Cash & Funds Flow Statements
- Day book & Trial Balance Report
- Cancellation, Alteration and Deletion of Vouchers in Tally Prime
- Addition & Insertion of Transaction in Tally Prime
- Printing & Exporting Vouchers
- Columnar Sales Register
- Columnar Purchase Register
- Cash & Bank Books in Tally Prime
- Edit Log in Tally Prime
- Case Study Description
- Business data setup with feature in Tally
- Inventory Masters
- Inventory Purchase
- Service Purchase/Expenses
- Inventory Sales
- Service Sales Voucher
- Receipt Against Sales
- Payment against Purchase
- Accounting Ledger Report
- What is Bill wise Accounting in Tally Prime?
- Types of Bill Reference in Tally Prime?
- Credit Purchase Transaction I
- Credit Purchase Transaction II
- Credit Sales Transaction I
- Credit Sales Transaction II
- Receipt Transaction (Against Reference)
- Payment Transaction (Against Reference)
- Receipt Transaction (Advance Reference)
- Payment Transaction (Advance Reference)
- Receipt and Payment On Account Reference
- Billwise Transaction for Non-Trading Account
- Accounting Ledger Report - Creditors & Debtors
- Outstanding Receivables Report
- Outstanding Payables Report
- Ledgerwise Outstanding Report
- Groupwise Outstandding Report
- On Account & Bill Settelements
- Bill wise Case Study Description
- Case Study Data Setup with Billwise Feature
- Opening Ledger Balances (Debtors & Creditors)
- Advance Payment to Supplier
- Loans & Advance with Bill wise details
- Service Purchase with bill wise details
- Service Purchase against advance
- Service Sales with bill wise details
- Bill wise outstanding report in Tally
- Bill Settelment Non Trading Account
- Receipt Voucher against reciveable
- Payment Voucher against Payable
- Case Study Description
- Case Study Data Setup
- Capital Investment
- Purchase of Inventory
- Stock Transfer
- Sale of Inventory
- Debit and Credit Note Voucher Setup
- Purchase Return
- Debit Note against Sales (Rate Difference)
- Sales Return
- Sales, Purchase, Debit Note & Credit Note Register
Eligibility Criteria
• Basic knowledge of computers and keen desire to build skills in this field.
• Open to students, job seekers, and working professionals.
• Open to students, job seekers, and working professionals.
Official Certification
• Official MKCL KLiC Certificate upon successful completion of the course and evaluations.
Work-Centric Learning Approach
• Step 1: Learners are given an overview of the course and its connection to life and work
• Step 2: Learners are exposed to the specific tool(s) used in the course through the various real-life applications of the tool(s).
• Step 3: Learners are acquainted with the careers and the hierarchy of roles they can perform at workplaces after attaining increasing levels of mastery over the tool(s).
• Step 4: Learners are acquainted with the architecture of the tool or tool map so as to appreciate various parts of the tool, their functions, utility and inter-relations.
• Step 5: Learners are exposed to simple application development methodology by using the tool at the beginner’s level.
• Step 6: Learners perform the differential skills related to the use of the tool to improve the given ready-made industry-standard outputs.
• Step 7: Learners are engaged in appreciation of real-life case studies developed by the experts.
• Step 8: Learners are encouraged to proceed from appreciation to imitation of the experts.
• Step 9: After the imitation experience, they are required to improve the expert’s outputs so that they proceed from mere imitation to emulation.
• Step 10: Emulation is taken a level further from working with differential skills towards the visualization and creation of a complete output according to the requirements provided. (Long Assignments)
• Step 11: Understanding the requirements, communicating one’s own thoughts and presenting are important skills required in facing an interview for securing a work order/job. For instilling these skills, learners are presented with various subject-specific technical as well as HR-oriented questions and encouraged to answer them.
• Step 12: Finally, they develop the integral skills involving optimal methods and best practices to produce useful outputs right from scratch, publish them in their ePortfolio and thereby proceed from emulation to self-expression, from self-expression to self-confidence and from self-confidence to self-reliance and self-esteem!
• Step 2: Learners are exposed to the specific tool(s) used in the course through the various real-life applications of the tool(s).
• Step 3: Learners are acquainted with the careers and the hierarchy of roles they can perform at workplaces after attaining increasing levels of mastery over the tool(s).
• Step 4: Learners are acquainted with the architecture of the tool or tool map so as to appreciate various parts of the tool, their functions, utility and inter-relations.
• Step 5: Learners are exposed to simple application development methodology by using the tool at the beginner’s level.
• Step 6: Learners perform the differential skills related to the use of the tool to improve the given ready-made industry-standard outputs.
• Step 7: Learners are engaged in appreciation of real-life case studies developed by the experts.
• Step 8: Learners are encouraged to proceed from appreciation to imitation of the experts.
• Step 9: After the imitation experience, they are required to improve the expert’s outputs so that they proceed from mere imitation to emulation.
• Step 10: Emulation is taken a level further from working with differential skills towards the visualization and creation of a complete output according to the requirements provided. (Long Assignments)
• Step 11: Understanding the requirements, communicating one’s own thoughts and presenting are important skills required in facing an interview for securing a work order/job. For instilling these skills, learners are presented with various subject-specific technical as well as HR-oriented questions and encouraged to answer them.
• Step 12: Finally, they develop the integral skills involving optimal methods and best practices to produce useful outputs right from scratch, publish them in their ePortfolio and thereby proceed from emulation to self-expression, from self-expression to self-confidence and from self-confidence to self-reliance and self-esteem!
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