Broadly speaking, the structured method of maintaining the financial operations of a business is known as Business Accounting whereas, Taxation is the process by which Governments impose certain levies/fees upon its citizens and commercial entities. The primary reason that Business Accounting and taxation are punched together is that in business, accounting & taxation go hand in hand to determine the financial outcome of any commercial venture. If you are a person intending to pursue your career in this field, keep reading to find out about some of the most highly recommended Business Accounting and taxation courses in Delhi.
Delhi/NCR is home to many business units small, medium & large. The majority of the people here earn their livelihood from commerce be it trading, manufacturing, marketing, or by providing service of some kind. For businessmen to survive and flourish, it is important that they maintain proper books which keep a tab on their income and expenses. A balanced book ensures the ability to make provisions for the timely filing of taxes.
Before we discuss the various Business Accounting and taxation courses in Delhi that you can choose from, it is important to understand what the subject really is and the kind of career opportunities that this stream presents in contemporary times.
What is Business Accounting & Taxation?
Business Accounting consists of keeping systematic records of financial transactions of an enterprise. These records have to be tracked and analyzed on a regular basis in order for the business to keep functioning without hassle. Proper accounting reflects the actual financial condition of a company and enables businesses to make prudent decisions.
Managing the financial affairs of a company irrespective of magnitude comes down to three essential things namely, the balance sheet of the business, the income statement, and the cash flow statement. Taxation is the instrument that compels us as individuals and commercial entities to pay up a certain percentage of our earnings to the Government.
Tax accounting is an integral subset of business accounting which entails accounting for the purposes of handling tax payments & filing returns. Tax accounting in business can be quite complex as accountants need to constantly be alert about cash flows, keep a tab on where taxes may or may not be applicable, and most importantly keep penalties at bay. The primary objective of tax accounting is for accountants to make accurate tax calculations and systematic filing of company taxes.
Commonly used Business Accounting Terminology
To help you comprehend Business Accounting a little better, let us familiarise you with some of the terms that are most commonly used while studying or working in this arena.
- Assets – Any and everything of financial value owned by a company that can be liquidated upon requirement.
- Liabilities – All payments or debts which are due to be paid for example loans, salaries, and accounts payable all come under business liability.
- Accounts Payable – All accrued payment obligations to vendors or other creditors that are listed under liabilities.
- Accounts Receivable – This is all of the money that has been accrued but not yet gathered, including credit given to vendors or customers where they are liable to pay the company/business.
- Balance Sheet – This is an annual statement of all of the assets, liabilities, and equity of a firm.
- Income Statement – Also known as the Profit & loss statement, this is the financial record of earnings, expenses, and net loss/net even/net profit of an enterprise over a particular timeframe.
- Cash Flow Statement – The cash flow statement is the record of cash inflows as well as outflows. It is always desired that the inflow ought to be higher than the outflow for the business to remain in function.
Tax Accounting Methods:
In India, Tax Accounting can be done in one of two ways, the cash method or the accrual one.
Cash Method: Under this method, all transactions are recorded on the basis of cash flows at the time when actual cash changes hands. Small businesses use this method of accounting which is based on actuals and is a rather straightforward system that is easier to figure out.
Accrual Method: Also known as the mercantile method, here the transactions are recorded when income is earned or when expenses have been incurred irrespective of cash flows. So, the difference really is in the timing as under the accrual system income or expense can be booked in parts (accruals) over the whole financial year. All medium and large businesses use the accrual basis of accounting.
Various Types of Taxes in Business:
Taxation in our country can be categorized into two major types:
- Direct Tax – Examples of direct tax include Tax on Income, Tax on Capital Gains (short & long term), Wealth tax, Gift tax, Securities and transactions Tax, and Corporate Tax.
- Indirect Tax – Examples of indirect tax include Goods and Service Tax, Excise Duty, Stamp Duty, Customs Duty & Octroi, etc.
Opportunities for Business Accounting and Taxation Professionals:
As in any profession, there is a gamut of opportunities that can be available for professionals who complete Business Accounting and taxation courses in Delhi or anywhere across the country. Whatever may be the business there is always a requirement for accountants and tax experts. Listed below are some job titles that you may easily be able to fill once you become proficient in this area.
- Finance Executive
- Accounts Executive
- Billing Executive
- Internal Auditor
- External Auditor
- Tax Consultant
- Accounts Manager
- Financial Analyst
- Tax Analyst
- Financial Advisor
- Tax Compliance Manager
- Tax Officer
- Financial Planning Specialist/Manager
- Accounts & Investment Manager
- Private Equity Accounting Professional
- Finance Manager
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The Most Relevant Business Accounting and Taxation Courses in Delhi
1. IIM SKILLS – Business Accounting & Taxation Course (Master Certification)
Known to be one of the best online technical training institutes in India, IIM SKILLS offers one of the most comprehensive Business Accounting & Taxation courses in Delhi which is recognized by the government of India. The 4 monthly self-study online program includes lectures, rigorous assignment submissions, and hands-on experience through case studies.
A trademark of any IIM SKILLS course is their internship which prepares pupils for the job market outside. This BAT course is a completely tools-based training where students will have extended support whenever they require it. At the end of the course, there is an assured placement assistance cell that helps students to go out there and get the job of choice.
Options are available for weekday as well as weekend batches. The goal of the institute is to help students understand the basic concepts of accounting and tax, fundamentals of economics, elements of managing a business, policies for payroll, and how to keep accounts using tools like Tally, Advanced Excel, QuickBooks, and Busy.
BAT Course Curriculum:
This master certification from IIM Skills has been expertly designed by Chartered Accountants, especially for commerce graduates who intend to pursue their careers in BAT. The course will extensively cover the following topics:
- Business Accounting
- Advanced Tally ERP 9 & Tally Prime
- Advanced Accounting in Tally
- Basics of GST
- GST in Tally
- GST Filing (online & offline using GST utility)
- Basics of TDS
- TDS in Tally
- TDS E-Filing
- Payroll Basics
- Payroll with Tally
- Income Tax Basics with Tally
- Income Tax E-Filing
- Advanced Excel
- MIS Reporting & Financials
Eligibility: Ideally meant for commerce graduates with basic computer knowledge, communication, and writing skills.
Course Fees: Rs. 9900/- + GST
Customer Care No: +91 9580 740 740
2. EduPristine – Post Graduate Program in Business Accounting & Taxation (PGP BAT)
EduPristine is possibly the oldest and largest provider of Business Accounting and taxation courses in Delhi as well as the rest of the country. Their Post Graduate Program in Business Accounting and Taxation is tailored to make incumbents market-savvy pros in the accounting & tax domain. This course is a combination of online as well as offline training sessions, which can be completed within 5 months or longer depending upon the dedication & focus of individuals.
The sessions on understanding the basic concepts behind each module are live online sittings where two-way communication is encouraged. These conceptualization trainings are mandatory & have to be taken before the face-to-face classroom sessions.
During the offline classes, pupils will be exposed to hands-on case studies and projects in order to prepare themselves for the job front. Apart there will be standard resume-building mentoring, job interview counseling, and placement assistance.
The PGP BAT from EduPristine consists of 9 extensive modules, where 4 different accounting software and their utility in creating financial statements shall be imparted. Participants will be liable to complete 7 projects as part of their assignment. The detailed syllabus of this program is listed below:
- Basics of Accounting
- Accounting in Tally
- Basics of GST
- GST in Tally
- Basics of Income Tax
- Income Tax in Tally
- Basics of Payroll
- Payroll in Tally & Excel
- Excel & MIS Reporting
- MS Excel for Accountants
- Format for Financial Statements
- Financials on Excel
- Setting up of Busy Software
- Extraction of GST Report
- SAP Purchase & Sales Process
- Practical Simulations on SAP
- Effective Business Communication
- Interpersonal Communication
Eligibility: Freshers, candidates from Commerce backgrounds & professionals who have 0-2 years of experience in the field of accounting may apply.
3. NIFM -Advanced Diploma in Financial Accounting & Business Taxation
The National Institute of Financial Markets offers an Advanced Diploma in Financial Accounting & Business Taxation which is a 9-month offline intensive course designed for students who are looking to excel in their accounting careers. It has been among the most popular Business Accounting & Taxation courses in Delhi over the last decade or so.
This program is extremely employment-oriented and prepares participants with industry-relevant hands-on training in modern business bookkeeping, automatic e-filing of GST, industrial case studies, etc, to tackle the competitive job market out there. NIFM provides guaranteed job placements for pupils upon course completion.
This classroom teaching course is divided into 6 modules which are extremely rigorous and will cover the following elements in thorough detail.
- Business Accounting – Basics of Accounting, Creating Accounting Masters in Tally ERP9, Group & Ledger creation, Voucher entry, Debit & Credit note, Unit of measure Stock Items, Advanced Accounting in Tally ERP9, Cost Centres & Categories, Adjusting Forex Gain/Loss, Bank Reconciliation, Stock Valuation & Zero Valuation entries.
- GST Filing with Tally ERP9 (GST & TDS/TCS) – Types of Taxes under GST, GST in Tally ERP9, GST Invoice, Invoice format under GST Regime, Credit note on GST, Bill of Supply on GST, GSTR1, GSTR3B, GSTR2A, generating E-Way bills using Tally ERP9, Passing GST entries under GST, Point of Sale, TDS Process, TDS Features on Tally ERP9, Enabling TDS on Tally ERP9, recording basic TDS Transactions, Payment & Generation of TDS, Adjustments in TDS, TDS with Expenses with inventory, TDS on Fixed Assets, TDS on sales commission, Reversal of excess TDS Deduction, TDS Reports, Computation, Challan Reconciliation, TDS Return, Outstanding TDS Payable, TDS not deducted.
- Payroll & Income Tax with Tally ERP9 – Payroll Accounting & Compliance, Configuring Payroll on Tally ERP9, Processing Payroll on Tally ERP9, Accounting for Employee & Employer PF contribution, Payment of PF, Accounting & Processing for ESI contributions, Payment of ESI, Payment of Professional Tax, Generating Payroll Reports
- Income Tax E-Filing – Configuring Income Tax on Tally ERP9, Income Tax Master Configuration, Override Income Tax, Tax Configuration, Pay Head creation for Income Tax Deduction, Processing of Salary with Income Tax Deduction, Income Tax Reports, Income Tax Returns
- Tax Deduction at Source E-Filing – Introduction to Income Tax, Computation & Filing ITR01, Computation & Filing ITR02 (Income from House & Property & Income from capital gains & agriculture), Computation & filing ITR03, computation of Presumptive Income ITR04, computation of Partnership Firm ITR05, Computation of Companies Return ITR06, online registration of PAN.
- Tax Collected at Source E-Filing – Introduction to Taxation, TDS Return Form 26Q, Salary components with payroll, TDS Return Form 24Q, Tax collection at sources, Payment to non-Resident 27Q, interest & penalty, TDS on property & rent, TAN tax deduction & collection
- Goods & Service Tax (GST) – Introduction, Structure, Invoicing, GST Return Filing, Composition scheme under GST, Reverse charge mechanism, E-way bill under GST, Registration under GST
Eligibility: 10+2 passed candidates, undergraduates, graduates, with basic knowledge of computers, MS Office & Internet.
Course Fees – 65000/- + GST one-time payment option, 75000/- + GST for installment option.
4. The Institute of Professional Accountants (TIPA) – Accounting Finance & Taxation Course
The Institute of Professional Accountants is a government-registered institute that has been known to impart one of the best Business Accounting and taxation courses in Delhi. The 12-month Accounting Finance & Taxation Diploma course has been created by industry veteran Chartered Accountants and is intended for newbies as well as working professionals who want to upskill and take their careers ahead of the curve.
There are 100% job placements provided to candidates who successfully complete the Diploma. Students have the option to choose from daily, alternate days & weekend classes at their convenience. Both online as well as offline options are available.
This BAT course from TIPA is a practical training program that shall help pupils to gather professional training in the accounting & tax arena. It is an extensive and rigorous program which starts with a basic computer course and covers the following topics:
- Manual Financial Accounting
- Computerized Accounting Software (Tally ERP & Busy)
- Income Tax
- Provident Fund & Labour Laws
- ROC (Registrar of Companies)
- Live Industrial Projects
- E-Commerce, Banking
- Capital Markets & Share Trading
- Goods & Service Tax
Eligibility: Age between 18-30 years, freshers from any background, commerce graduates, postgraduates & professionals.
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5. SLA Consultants India Pvt Ltd. – E-Accounts, E-Income, Tax E-GST Training
Structured Learning Assistance Consultants India offers E-Accounts, E-Income, and Tax E-GST Training specially framed for the current employment market. Over the last decade, this training & development company has successfully created a niche in the market tailoring one of the most popular Business Accounting & Taxation courses in Delhi.
Their structured program promises to make participants experts in various accounting software tools including Tally ERP 9, Taxman, Busy, Advanced Excel, etc. Their online, instructor-led sessions include assignments and exposure to real-time projects. At the end of the program, placement assistance shall be provided.
The E-Accounts, E-Income, and Tax EGST training is conducted as a whole course of 200 hours which covers the below-listed topics. It is to be noted that pupils may also choose to learn any specific module according to their preference.
- Advanced Goods & Service Tax Practitioner Course by CA (Indirect Tax) – E GST Registration, Rules & Formats; Collection of TOS; Electronic Commerce in GST; E-Way Bill; IGST Law; Refunds; GST Annual Return
- Advanced Income Tax Practitioner Certification – Integration of Interdependent Legal Terms of Direct tax, Rates Applicable on Income, TDS Receivable Reporting in Return, Introduction of Return Forms, Discussion on ITR 3, ITR 4, ITR 5, ITR 6, ITR 7
- Advanced TDS Practical Course – Tax Deducted at Sources
- Finalization of Balance Sheet/Preparation of Financial Statement & Banking by CA – Analysis of Balance Sheet and its components as per revised schedule of Companies Act 2013, Overview of GAAP, Bank Reconciliation Statement and its importance, Deferred Tax
- Banking & Finance – Documentation in Finance for CC & OD limit, Letter of Credit, Documentation for LC, Bank Guarantee
- Customs/Import Export Procedures by CA
- Advanced Tally Prime & ERP9 with GST Compliance – Inventory Management, Bill wise & Accounting Ledger Details, Cost Centres & Categories, Voucher Classes, Multiple Currencies, Interest Calculations, Banking
- Financial Reporting – Advanced Excel & MIS for Accounts & Finance (By Data Analyst Trainer) – Introduction to Excel, Mathematical Functions, Text Functions & Data Validation, Statistical Functions, Logical Functions, Lookup & Reference Functions, MIS, Data Analysis & Visualisation, Data Collection Method, single & Multidimensional Analysis, Advanced Dashboard in Excel
- Advanced SAP FICO Certification – Enterprise Structure, Financial Accounting Global Settings, General Ledger Accounting, Accounts Receivable & Payable, Asset Accounting, SAP Integration, SAP FICO Reports
Eligibility: Freshers, Graduates, and professionals from core accounting backgrounds.
1. What are the benefits of joining Business Accounting & Taxation courses in Delhi?
The primary benefit of taking up Business Accounting & Taxation courses in Delhi is to gather professional expertise in the prevalent practices of accounting & taxation which will help pupils get their desired jobs in the industry. For working professionals, it means gathering an edge above others in order to move up the corporate ladder and pay hikes. For freshers learning new skills can open up career avenues for the future.
2. What is the scope of Business Accounting and taxation courses in Delhi?
After completion of the best Business Accounting and taxation courses in Delhi, incumbents become eligible to acquire jobs in both the Government as well as the Private Sector. They can start with salaries in the range of 3 to 9 lacs per annum depending upon their proficiency and ability to crack interviews. With everything in this field being automated, there is a growing need for people who are skilled in modern accounting methods, software usage, and thorough knowledge of taxation methods prevalent in the country.
3. What are the objectives of Business Accounting and taxation courses in Delhi?
Accounting and taxation professionals operate one of the core functions of a company/enterprise. At the heart of Business Accounting & Taxation courses in Delhi, lies the responsibility of professionally trained accountants to keep vigil on the financial health and viability of the company. Whereas, the primary intention of taxation experts is to compute and submit income tax returns in keeping with the Tax laws of the country. By learning these two important things in the domain of accounting & finance it is possible for companies to make sustainable financial decisions for continuity of business in the long term.