Businesses should have a sound financial health to prosper. Accounting helps organizations keep an eye on income and expenditure. It aids in budgeting and planning for the organization’s financial future. Decision-making in businesses relies heavily upon the financial status of the company. Accounting provides a rundown of the organization’s financial position and aids in making business decisions. The article highlights the importance and benefits of Business Accounting and Taxation in an Organization. The article also highlights top Institutes offering Business Accounting and Taxation Courses in Kolkata.
What is Business Accounting?
Business Accounting, also known as Bookkeeping, is a process of recording, analyzing, summarizing, and interpreting financial transactions of the company. Small businesses opt for business accounting to get insights into a company’s financial status and create financial reports. Accounting helps in decision-making, cost planning, and measuring economic performances. Three types of Business Accounting are:
- Financial Accounting: Financial Accounting is a process of recording, analyzing, summarizing, and reporting business transactions over a specified period. These transactions are summarized in the form of Balance Sheets, Cash Flow Statements, and Income Statement.
- Managerial Accounting: Managerial Accounting involves the analysis, interpretation, and identification of accounting information or data, helping management in decision-making. This branch of accounting is for internal use to help organizations achieve business objectives.
- Cost Accounting: Cost Accounting is the process of recording, summarizing, analyzing, and studying organizations’ costs incurred on products and services. Cost Accounting aids businesses in controlling costs, planning, and making decisions to improve cost efficiency.
Taxation
The government charges a mandatory fee in return for infrastructure and facilities provided to individuals and organizations, called tax. These funds collected are used further for development and other public welfare activities such as defense, social welfare such as schools, bridges, rural development, roads and safety, drinking water, etc. Tax is levied annually or on every transaction. These taxes are levied by local bodies, state, and central bodies.
Types of incomes taxed under income tax laws are:
- Income from Salary
- Income from Property
- Income from Business
- Income from Capital Gain
- Other Services
A person can claim exemption from these taxes as certain incomes are exempted from tax.
Taxes Have Two Categories:
Direct Tax: A tax imposed upon a person or property is called a direct tax. Direct tax is non-transferable, and the person on whom tax is imposed is solely responsible for paying tax. The types of direct taxes applied in India are:
- Income Tax
- Wealth Tax
- Estate Tax
- Corporate Tax
- Capital Gains Tax
Indirect Tax: Indirect tax is imposed upon the end user of goods or services. The end user or the consumer pays tax by paying more for the product. Manufacturers collect indirect taxes from consumers and pay to the government. In other words, Indirect Tax is a tax imposed on an individual or entity, such as manufacturers or retailers, finally paid by consumers. Let us demonstrate an example of Indirect Tax:
An Institute offers Business Accounting and Taxation Courses in Kolkata with 25000 INR as a course fee. The GST attached to the course amount is 18%. So, 18% of 25,000 is 4,500 INR. So, the student opting for the course needs to pay 29,500 INR, which is 4,500 more than the actual course fee. The extra payment in the form of GST is the indirect tax paid by the student.
A few examples of Indirect Taxes are:
- Excise Duty
- Custom Duty
- Sales Tax
- Value Added Tax
Benefits of Business Accounting and Taxation Courses in Kolkata
Business Accounting and Taxation Courses in Kolkata equip students with concepts of accounting and taxation. The course makes students job-ready and provides a better understanding of real-time job work. Participants or students get to do what real accountants do in organizations, helping them develop their employable skills.
BAT course offers hands-on knowledge in accounting and taxation, a comprehensive curriculum, interactive sessions, and job assistance to students. Mentioned below are some benefits of Business Accounting and Taxation Courses in Kolkata:
- Better career opportunities
- Understanding every aspect of accounting and its management
- Get to learn Tally ERP, one of the most commonly used software in accounting
- Help those looking for freelance jobs in accounting
- Critical and practical skills development
- Choose from various career options such as finance manager, company secretary, accounting manager, finance controller, audit assistant, income tax officer, tax manager, accountant, audit assistant, etc.
Types of Jobs in Business Accounting and Taxation
Finance Manager: A Finance Manager is an accounting professional who ensures the financial soundness of the organization. These professionals use their skills to create financial statements and reports. A few roles and responsibilities of a Financial Manager are summarized below:
- Perform financial analysis to determine the financial status of the company
- Review financial reports
- Analyze cash flow, balance sheets, revenue and expenses
- Analyzing, interpreting, and collecting financial information
- Forecast financial trends
- Prepare business plans based on financial reports
- Manage, review, and monitor budgets
Company Secretary: A Company Secretary is a managerial personnel entrusted with the legal aspects and compliance of the company.
Roles and Responsibilities:
- Guide directors of the company regarding their duties and responsibilities
- Convene board, committee, and general meeting
- Maintain minutes of the meeting
- Company Secretaries assist the board in conducting the company’s affairs
- Ensure timely filing of statutory returns
- Maintain statutory registers
- Keep the company’s seal safe custody
Accounting Manager: The Accounting Manager works in the accounting department of the organization. The Accounting Manager supervises a team of accountants engaged in recording the company’s financial transactions.
Roles and Responsibilities:
- Recruit accountants and other staff in the accounting department
- Prepare and analyze financial statements
- Ensures accurate recording of day-to-day transactions
- Make sure that transactions comply with applicable rules and regulations
- Safeguard financial assets by establishing and enforcing internal and prevent errors or frauds
- Lead accounting teams and provide them with guidance and training
- Work closely with the finance department to provide financial insights and help in decision-making
- Conduct audits to avoid discrepancies
Finance Controller: Financial Controllers are involved in preparing and analyzing financial reports and budgets. They are engaged in forecasting and strategizing the company’s future.
Roles and Responsibilities:
- Prepare financial reports and budgets
- Analyze financial reports and budgets
- Prepare financial statements
- Work closely with other departments within the organization and manage audits
- Identify accounting issues of the company and fix them
- Discover ways of cost reduction and assess budgets
Income Tax Officer: Income Tax Officers ensure tax filings. These professionals work in the Income Tax Department, which falls under the Ministry of Finance. Income Tax Officers investigate and assess income tax.
Roles and Responsibilities:
- Ensures that companies and citizens pay taxes to the government
- Check for fraud and send notices to taxpayers failing to pay taxes
- Find out the actual income of people filing income tax returns
- Conduct raids on companies or people furnishing incorrect Income Tax returns or failing to file returns
- Notify taxpayers regarding underpayment or overpayment and issue a refund or ask for additional payment
Audit Assistant: Audit Assistants work under senior auditors and prepare and analyze financial reports. They conduct audits and prepare budgets under the guidance of senior auditors.
Roles and Responsibilities:
- Prepare audit budgets
- Prepare and analyze financial reports
- Review payroll
- Prepare audit reports for review
- Answer client audit queries
Salary in Business Accounting and Taxation
Average Base Salary as per Indeed, for Various Job Titles in Business Accounting and Taxation Domain
| Job Title | Average Base Salary in Kolkata | Average Base Salary in India |
| Tax Accountant | 2,79,235 INR | 3,06,269 INR |
| Finance Manager | 7,04,394 INR | 5,59,940 INR |
| Company Secretary | 3,07,527 INR | 3,61,050 INR |
| Accounting Manager | 4,77,016 INR | 8,56,488 INR |
| Finance Controller | 11,37,804 INR | 10,49,906 INR |
| Audit Assistant | 2,45,243 INR | 2,49,303 INR |
Perks and Salary are the most important factors drawing thousands of aspirants’ attention towards a career in Business Accounting and Taxation. To cater to the needs of those aspirants, many institutes are offering Business Accounting and Taxation Courses in Kolkata.
Other best courses in Kolkata:
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List of Institutes Offering Business Accounting and Taxation Courses in Kolkata
1. IIM SKILLS
IIM SKILLS is the premier institute offering Business Accounting and Taxation Courses in Kolkata. The course curriculum has been designed by experienced industry experts with experience in accounting and taxation. The course makes students job-ready on course completion. The program from IIM SKILLS equips students with aspects of Business Accounting and Taxation, which makes it one of the best Business Accounting and Taxation Courses in Kolkata.
BAT Course Curriculum
- Module 1: Accounting in Tally and Accounting
- Module 2: GST in Tally and GST
- Module 3: TDS and TDS with Tally
- Module 4: Payroll with Tally and Payroll
- Module 5: Income Tax with Tally
- Module 6: MIS Reporting and Advanced Excel
Skills Acquisition
- Students develop a thorough knowledge of advanced accounting standards
- Knowledge of Tally
- Understanding of GST
- Knowledge of MIS Reporting and Advanced Excel
- Knowledge of Payroll
- Learn about Financial Auditing and Reporting
- Income Tax using Tally
- Book Keeping and Account Keeping Skills
- Exposure to Real-World Business
Features and Key Highlights of the Program:
- Interactive Sessions: Feel like an actual classroom where students interact and share their ideas. Students not only communicate with mentors but also with peers.
- Flexible Scheduling: The program allows students to learn while working. A flexible schedule allows professionals to take up the course without any hassle.
- Exceptional Faculty: Faculty members are subject matter experts with loads of experience.
- Learning Resources: A Learning Management System (LMS) allows students to access the courseware, resource material, and session recordings 24×7.
- Master Certification: Master Certification from IIM SKILLS can be added to LinkedIn Profile and Portfolio to showcase to potential Employers.
- Anytime Anywhere Access: As the program is online, students can access the online classes via ZOOM App on their devices.
- Tools: Students get hands-on training on tools for the industry, helping in error-free work.
- Freebies: Students are free to contact and seek support if they face any hurdle in their career. Session recordings are available in LMS where students can watch and rewatch previous sessions. Suitable candidates are provided with job referrals. The program helps students with interview preparation in alignment with industry requirements.
- Dedicated Placement Cells
- 120+ Hours Lectures
- 60+ Hours Practical Assignment
Who Fits for the Course:
- Commerce Graduates
- Tax Experts
- Finance Professionals
- Entrepreneurs
- MBA Aspirants
- CA/CS
Mode of Learning: Online
Course Duration: 4 Months
Course Fee: 9,900 INR + 18% GST
2. EduPristine
PG Program in Business Accounting and Taxation
EduPristine is one of the most reputed institutes offering Business Accounting and Taxation Courses in Kolkata. The Post Graduate Program in Business Accounting and Taxation enables students to be industry-ready accounting professionals. The course curriculum is designed by industry experts with loads of experience in the Business Accounting and Taxation domain.
The program helps students by offering practical and experiential learning along with placement assistance. The Course Curriculum and Features associated with the program make this one of the best Business Accounting and Taxation Courses in Kolkata.
Course Curriculum
- Module 1: Basics of Accounting and Accounting in Licensed Version of TallyPrime ERP
- Module 2: Basics of GST and GST in Licensed Version of TallyPrime
- Module 3: Direct Tax and Application in Licensed Version of TallyPrime
- Module 4: Payroll and its Components
- Module 5: Excel for MIS and Accounting
- Module 6: Finalization of Financial Statements
- Module 7: BUSY Software
- Module 8: SAP
- Module 9: Soft Skills
Features and Key Highlights of the Program:
- Experiential and Practical Training
- Dedicated Computer Lab
- Case-Studies Based Learning
- Industry Relevant Content
- Project-Based Practical Training
- Training by Industry Experts
- Work on Licensed Version of TallyPrime, SAP, MS Excel, and BUSY Software
- Effective Business Communication
- Interpersonal Communication
- E-Mail and Virtual Communication
- Presentation Boot Camp
- Interview Preparation Workshop
- Frequent Job Updates
- Career Guidance
- Resume Preparation Assistance
- Placement Assistance
Eligibility:
Fresh Graduates
Individuals with 0-2 Years of Experience
Candidates with Commerce Background
3. Finprov
The program from Finprov equips students with all the basic skills they need to be a Finance and Accounting Professional. The 2-level course is designed by Chartered Accountants and Industry Experts with loads of experience in the finance domain. Finprov offers the best Business Accounting and Taxation Courses in Kolkata and equips students with the required skills and practical knowledge to work in the industry.
Course Curriculum
- Practical Accounting
- TallyPrime (Basic and Advanced)
- GST Theory
- GST Practical
- Income Tax Basics
- Basics of MS Excel
- Business Law
- ESI and PF Calculation
- Advanced MS Excel
- Basics of SAP
- Professional Skills
- Language Lab
- Zoho Books
Course Learnings
- Income Tax with Return Filing
- Cash Budget and MIS Report Preparation
- Learn Latest Tally Prime and Quickbooks Version
- Corporate Laws, ESI, PF Computation
- Preparation of Profit and Loss Account and Balance Sheet
Skills Acquisition
- PF and ESI Calculation
- MS Excel
- Zoho Books
- GST
- Income Tax
- Tally
- Basics of SAP FICO
Features and Key Features of the Program:
- Tech Enabled Learning
- 200+ Hours of Hands-On Training
- 10+ Case Studies
- Personalized Career Assistance
Mode of Learning: Hybrid
Course Fee: 40,000 INR
Course Duration: 6 Months
4. ICA Edu Skills
ICA Edu Skills in partnership with National Skills Development Corporation (NSDC), is one of the premier institutes offering Business Accounting and Taxation Courses in Kolkata. The course equips students with in-demand skills and provides them with practical training. The curriculum consists of 90 percent practical training and 10 percent theory which makes students job-ready on course completion.
Course Curriculum
- Business Accounting: Introduction, Accounting Concepts, Capital and Revenue Transactions, Accounts Documents, Journal Entries, Depreciation, Stock Valuation, Year-End Adjustments, Final Accounts, Reconciliation, BRS, Projects
- Tally Prime: Accounting Entries, GST and TDS Treatment, Payroll Management, Inventory Management, Financial Reporting, GST Returns
- Goods and Services Tax (GST): Concepts of GST, Levy and Collection of Tax, Valuation, Tax Payment, Returns, GST using Tally Prime, Practice in GSTN, Project on GSTN
- TDS: Concept of TDS, TDS Rates, TDS Payments, Filing of TDS Return, TDS Certificate, TDS using Tally, Computation of Taxable Income, E-TDS Returns, Project
- MS Office: Hardware and Software, Working with Windows 10, File and Folder Management, Introduction to MS Word 2019, Page Setup and Drafting and Formatting Documents, Tables, Headers and Footers, Number and Conditional Formatting, Database Designs, Google Drive
Features and Key Highlights of the Course:
- As the course is online, students can learn from the comfort of their homes.
- Counseling Sessions to guide students toward their career paths
- 1000+ Vacancies Weekly
- Hands-on experience with live projects designed by industry experts
- Live videos, case studies, and self-paced learning
- Assignments and Quizzes through Learnersmall App.
- Doubts clearing through academia and trainers
- Industry Recognized Certification
Course Learnings:
- Files Creation under Tally Prime
- Creation of Ledgers and Groups
- Conclude Tax implications for GST, TDS, and Income Tax within transactions
- The Practical Approach of Tally Prime
- GST payment to Government
- Depreciation
- Journal Entries
- Stock Valuation
- Account Documents
- GST Payable Calculation
- TDS using Tally
- E-TDS Returns
Eligibility:
- 10+2/ Graduation
- Must clear the Common Entry Test conducted by ICA.
Mode of Communication: Hindi/English
Mode of Learning: Online
Course Fee: 24,999 INR
Course Duration: 170 Hours
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5. George Telegraph Institute of Accounts
Professional Business Accountant Course (PBA)
George Telegraph Institute of Accounts offers the best Business Accounting and Taxation Courses in Kolkata. The self-paced course from GTIA is designed to provide knowledge of all levels of financial accounting, auditing, advanced Excel, direct and indirect taxes, etc. to students and professionals. The course is designed to provide the qualifications, students need to succeed and move ahead in their careers.
Course Curriculum
- Windows and MS Office
- Financial Accounting
- Advanced Accounting
- Tally Prime
- Management and Communication Skills
- Direct Tax
- Goods and Services Tax
- Advanced MS Excel
- Special Papers: Costing, Finance, Banking and Insurance, Company’s Law, MCA and ROC
Course Learnings
- Tally ERP9
- Hands-on Training in Advanced Software
- E-Filing of Statutory Returns
- Banking and Insurance
- Auditing
- GST
- Direct Tax
- Financial Accounting
- Business Computer Application
Course Duration: 12 Months+ 6 Months Internship
Mode of Learning: Online
6. Henry Harvin
Business Accounting and Taxation Course
Ranked #1 course in India by Tribune and Indian Express, Henry Harvin offers the best Business Accounting and Taxation Courses in India. The program covers GST, Income Tax, and TDS and has been designed for professionals looking to build a career in Accounting and Taxation. Integrated Curriculum provides in-depth knowledge of Business Accounting and Taxation to students. The program provides hands-on training on Business Accounting and Taxation and project-based learning to students.
Course Curriculum
- Module 1: GST Practitioner Course
- Module 2: Income Tax Specialist
- Module 3: Financial Statement Analysis
- Module 4: Tally ERP9
- Module 5: Advanced Excel for Accounting and MIS
- Module 6: HR Payroll
- Module 7: Simulated Accounting and Taxation Projects
Features and Key Highlights of the Program:
- Ranked top among Accounting and Taxation Courses
- 9 in 1 Course which comprises Training+ Projects+ Internship+ Certification+ Placement+ E-Learning+ Masterclass+ Hackathons+ Gold Membership
- 100% Practical Training
- Industry Graded Projects
- Live Projects
- Gold Membership of Finance Academy
- Recorded Videos
- Internship Facility
- Weekly Job Support
- Career Services
- Membership Benefits for free
- Placement Drives
- Premium Access to the Henry Harvin Job Portal
- Personalized Job Consulting
- Certified Experienced Instructors
- Tailor Made Training
- Flexible Schedule
- Masterclasses by Henry Harvin
- One-to-One Training
Tools Covered: e-way bill, Advanced Excel, SAP, Tally ERP9
Learning Benefits of the Course:
- Basics of Accounting and Taxation
- GST and Indirect Taxation Training
- Understanding of TDS and TCS
- Acquire Income Tax and Business Income Knowledge
- Application of Conceptual Accounting and Taxation in the real world
- Learn Concepts of Litigation Management
Skills Covered:
- Payroll Management
- Payroll Processing
- Comparative Analysis
- Excel Function
- Litigation Management
- Analyzing Balance Sheet
Mode of Learning: Online
Course Fee: 34,500 INR
Course Duration: 172 Hours
Frequently Asked Questions: Business Accounting and Taxation Courses in Kolkata
What is the eligibility for the Business Accounting and Taxation Course?
A Bachelor’s degree in Commerce (B.Com) is mandatory in some institutes while some of the institutes entertain a 12th pass as well. Every institute has its own set of criteria as far as eligibility for BAT Courses is concerned.
What subjects are covered in the BAT Course?
Business Accounting and Taxation Courses cover the topics mentioned below:
- Financial Reporting using Tally ERP
- Direct Tax
- Indirect Tax
- Payroll and its Components
- BUSY
- Finalization of Financial Statements
- SAP Modules
- Income Tax Basics (Theory and Practical)
- Excel and MIS Reporting
- Goods and Service Tax (GST)
What is the role of a Tax Accountant?
Tax Accountants prepare, manage, and file taxes for individuals and organizations. They follow tax laws set by government bodies to help clients improve profits and avoid penalties.
Roles and Responsibilities of a Tax Accountant:
- Offers advice on tax planning
- Help clients improve profits and save money
- Fix errors of incorrect tax filings
- Ensure client’s compliance with local, federal, and state tax regulations
- Prepare tax reports both quarterly and annually
- Keep updated with tax changes and industry trends
Conclusion
Businesses nowadays recognize the significance and scope of accounting. They also know they need to comply with tax regulations. Hence, the demand for Business Accounting and Taxation professionals has increased significantly. Growing demand for these professionals has encouraged a lot of institutes to offer Business Accounting and Taxation Courses in Kolkata. BAT Course equips individuals with the skills of recording and analyzing financial information and lets them understand tax laws.