Course

IAF(Indian And Foreign accounting)

WHAT’S THIS PROGRAM ABOUT?

Indian and Foreign Accounting" typically refers to the differences and nuances in accounting practices between India and foreign countries, especially in the context of financial reporting, auditing, and compliance.

• Curriculum: Covered major accounting terms and applications
• Taxation Impact: Tax laws and accounting standards are closely linked in India, while this connection may not be as strong in some foreign countries.
• Reporting Standards: Indian accounting standards (Ind AS) may have some differences from IFRS and other foreign accounting standards, particularly in areas like revenue recognition, financial instruments, and consolidation

CURRICULUM

• Basic Accounting: Introduction to Accounting, Accounting Concepts, Golden Rules of Accounting, Book Keeping, Journalizing, Ledger Preparation, Trial Balance, Financial Statements, Finalization of Accounts, Introduction to Payroll, Day Book |Cash Book Preparation, Introduction to ERP System, Getting Start with Tally.
• Tally: Introduction to Tally, Tally Function Keys, Ledger Creation, Ledger Groups, Accounting Vouchers, Bank Reconciliation, Generating Financial Statement and MIS Reports, Inventory Management, Godown Creation, Purchase and Sales Order, Cost/ Profit centre Management, Price Level, Reorder Level, Ratio Analysis and Cash Flow Statement, Generating and Printing Reports, Goods and Service Tax (GST), GST Reports, Value Added Tax (VAT), VAT Reports, Data Security Company & Data Management, Tax Deducted at source (TDS), Tally Project 1 (Sole Proprietor, Service-Related Company)
• QuickBooks and Peachtree: Opening Accounting, Identifying parts of the screen, Identifying menus and toolbars, Identifying sections , Navigations, Using Easy Step interview, Entering the information, Backup the information, Creating a Company, Planning and Creating a Company, Editing Your preferences, Working with Opening Balances and Historical Transactions, Finding Help, Setting up Users, Vendors, Exploring the Vendor Center, Working with Customer and Vendor Profile Lists, Creating Custom Fields, Entering Bills, Paying Bills Writing and Printing Checks, Customers, Working with the Customer Center, Understanding and Creating Items, Creating Invoices, Receiving Payments, Entering Sales Receipts, Integrating with Microsoft Word, Bank accounts, Entering checks directly, Bank account register, Entering a handwritten check, Transferring money between accounts, Reconciling checking accounts. Analysing financial data, Creating Quick Reports, Present Reports, Exporting to excel, Creating Quick Insight graphs ales tax, Setting up tax rates and agencies , Grouping single tax together, Identifying most common tax, Indicating who and what gets taxed, Applying tax to each sale, Determining what you owe, Paying tax agencies. Payroll, Setting up payroll, Adding payroll items, Setting up employee payroll information, Writing payroll checks, Tracking tax liabilities, Payroll taxes, Printing 940 and 941 forms. Estimating and progress invoicing, Creating jobs and estimates, Creating an invoice form an estimate, Projects reports for estimates, Updating job status
• Microsoft Office Basics: Create worksheets and worksheets Prepare Workbooks for collaboration, Navigate In Worksheets and Workbooks, Format Worksheets and workbooks, Customize options and views for worksheets and workbooks, Format cells and ranges, Insert data in cells and ranges, Fill cells based on existing data Apply advanced conditional formatting and filtering, Summarize and organize data Format and validate data, Create and manage tables, Manage table styles and options, Filter and sort a table, Summarize data by using functions, Perform data analysis, Perform conditional operations by using functions, Perform logical operations in formulas, What If Analysis, Track Changes, Look up data by using functions, Troubleshoot formulas, Create and modify advanced charts

TRAINING ENABLERS

• Complementary learning materials
• Modern and well-equipped training facilities
• Experienced instructors
• Flexible classes in Online and Offline Mode