Accounting, Tally and Computers

Module 1: Accounting [12 hours]

1) Basics of Accountancy:
● What Is Accounting and Why Do We Need It?
● The Importance of Bookkeeping - Good Accounting Records Are Essential
● Financial Accounting - Who Needs Financial Reports?
● Types of Financial Reports

2) Statements in Financial Accounting
● The Three Main Financial Statements: P&L, Balance Sheet and Cash Flow
● Income Statement Items
● Revenue types - practical exercise
● Depreciation and Amortization
● Balance sheet items
● The types of assets - practical example
● The types of liabilities - practical example

3) Building Block of Accounting
● The Revenue Recognition Principle - Why Is it so Important?
● The Expense Recognition Principle - When to Recognize Expenses
● The Accounting Equation and How It Stays in Balance
● Making Sense of Debits and Credits! It Does Not Have To Be Hard

4) Income Statement
● Double-Entry Bookkeeping
● Journal
● Ledger
● Practical Problem solving

5) A practical session case study:
● Understanding and applying our learning
● Practical example
● Doubt Solving

6) Accounting & Timing: Income & Cash are two different concepts
● The Importance of Timing: Revenue and Expense Recognition
● The Difference Between Cash Flow and Profit - A Must Know For Every Entrepreneur
● The Timing of Payments: Here Is How Many Business Owners Improve Their Cash Flow

7) Preparing Cash Flow Statement
● Calculating Cash Flows - Understand if a business makes or burns cash
● The three parts of Cash Flow statements explained
● Calculating Cash Flow in practice: A complete example

8) Introduction to Financial Reporting:
● Let’s understand through annual report of Tata Coffee
● Applying the concept and see how Tata coffee presents its numbers

9) Practical session on Doubt solving and understanding how our learning can be applied to your business

Module 2: Tally [8 hours]
1) Create and setup of a company in Tally

2) Setup of basic features in Tally

3) Configuration setting in Tally

4) Create accounting masters in Tally

5) Create inventory masters in Tally

6) Setup of GST masters and classifications in Tally

7) Record financial business transactions in Tally

8) Record Inventory (stock entry) transactions in Tally

9) Setup of Tally item allocations

10) Post transactions with Inventory and GST in Tally

11) Record expenses transaction with GST in Tally

12) Record fixed assets transactions with GST in Tally

13) Learn how to generate and configure sales invoice using Tally

14) Learn how to create and set purchase voucher in Tally

15) Learn how to create and set sales voucher in Tally

16) Use of some important shortcut keys in Tally

17) How to delete and alter masters in Tally

18) how to search, alter and delete business transactions

19) How to prepare GST Returns in Tally

20) How to prepare Balance and other financial reports in Tally

Module 3: Computers [5 hours]

1) Basics

2) Using Apps

3) Browsing Internet

4) Emails