The introduction of the Goods & Services Tax (GST) on July 1, 2017, had a transformational effect on the Indian economy. Business Accounting and Taxation (BAT) was also impacted by the new GST regime, as it opened up more job opportunities in this field all across India including Kerala. So, if you are a commerce graduate from Kerala, contemplating various career options or a working professional from the commercial or financial sector of the state, thinking of upskilling, then read on, as we explore the Top 5 Business Accounting and Taxation Courses in Kerala.
To begin with, however, let us understand what we mean by Business Accounting and Taxation. As is evident from the name, it consists of 2 disciplines, business accounting, and taxation, so let us look at them separately.
It is a critically important function of a business and is fundamental for its survival and growth. Business Accounting is the process of recording, analyzing, and illustrating all financial transactions of a business.
This information must be reliable because a business makes important investment and lending decisions based on this information It also submits this record to the authorities for various regulatory compliance. Then again, this information must also be accurate since it will be the yardstick to measure the financial performance and profitability of an organization.
Types of Business Accounting
Financial Accounting- This particular branch of accounting focuses on recording, summarizing, and reporting all the incoming and outgoing financial transactions of an organization. It is mandated by law for an entity to prepare financial statements and make them available to shareholders, investors, creditors, regulators, and tax authorities. Financial statements include
- Balance Sheet
- Income Statement/ Profit & Loss Statement
- Cash Flow Statement
Financial accounting helps a company to maintain financial discipline, encourage transparency, and provide meaningful insights to management.
This is a branch of accounting that is primarily focused on analyzing financial records and generating relevant reports to assist internal decision-making. Unlike financial accounting, management accounting is not meant for external stakeholders, instead, it is an important tool used by managers to make strategic financial decisions. Some of the reports generated by managerial accounting are
- Cost Analysis
- Cost-Volume-Profit Analysis
- Capital Budgeting
This is an important branch of management accounting that helps an organization compare its input costs to the output generated. Through cost accounting an organization can figure out how much money it is spending in developing its goods and services and how much it is earning from them. They are also able to identify areas where money is being wasted or lost.
This is another significant branch of accounting; it ensures that an organization adheres to the Internal Revenue Code, which governs the standards that all businesses must adhere to while preparing their tax returns. Tax accounting focuses on only those transactions that can have a bearing on the tax charge of an organization. It aims at accurate tax calculation in compliance with the tax laws and preparation and submission of relevant documents to the tax authorities.
This is the process of examining all the financial records of an organization to provide reasonable assurance that the records are accurate and authentic, it also aims to ensure that the organization complies with all the relevant corporate and tax laws. Auditing is of two types, internal audit and statutory audit. An internal audit can be conducted by an employee of the organization; a statutory audit must be undertaken by an independent registered Chartered Accountant.
It is the act of imposing or levying a financial charge by the government on an individual, as well as an organization, to collect revenue for public spending, that spending can be in the form of infrastructural development, social welfare, defense, etc.
In India, an organization depending upon its size, nature of business, and location, has to pay various types of taxes imposed by the Central and State Governments. Those taxes can be broadly classified into 2 categories, Direct Tax and Indirect Tax
This is paid directly by the tax-paying entity to the government. In India, this comes under the purview of the Central Board of Direct Taxes (CBDT). Some examples of Direct tax are:
- Income Tax
- Property Tax
- Capital Gains Tax
- Road Tax
- Stamp Duty
This tax is not directly collected by the government, instead, it is levied based on consumption and applies when goods and services are bought and sold. The government collects the tax from the seller of goods or services; they in turn collect that tax amount from the end-user, i.e. the person who purchases their goods or services. So, the tax is collected from one entity but that tax is paid by a different entity. Some examples of Indirect Tax are:
- Goods and Services Tax (GST)
- Value Added Tax (VAT)
- Customs Duty
- Excise Duty
- Sales Tax
By now, you must have acquired a fairly clear understanding of Business Accounting and Taxation. Now let us try to answer an important question.
Scope of Business Accounting and Taxation Courses in Kerala
Business Accounting and Taxation as a profession will never become archaic or their scope diminish, as long as human society exists and continues to do business, because both these functions are the backbone of any business big or small.
There is however, a lot of gap between demand and supply, while the demand for skilled and knowledgeable accounting and taxation professionals is huge there is a shortage of supply. The course therefore opens up a lot of avenues for you.
The Government of India has recognized that gap and The University Grants Commission has designed a scheme to encourage skill-based higher education and is promoting Bachelor of Vocation (B.Voc) degrees under the National Skill Qualification’s framework (NSQF). Under this scheme institutes and colleges are guided and encouraged to offer professional courses to bridge that demand-supply gap.
This gives you a unique opportunity to add value to your resume by learning and acquiring a specialized skill to complement your general degree. If you are from Kerala and wondering, what are the prospects of Business Accounting and Taxation Courses in Kerala then let me assure you that opportunities are manifold.
According to the state’s economic review 2021, Kerala achieved a healthy growth of 12.01%, in comparison the country’s overall economic growth was 8.7% in the same period. The state is witnessing rapid and consistent growth in agro-based industries, tourism, and manufacturing.
So, choose a Business Accounting and Taxation Course in Kerala that fits your budget, your time, and above all your career goal. Before making that choice, try to look for the answer to the following question.
What to Look for in a Business Accounting and Taxation Course?
Before enrolling in any one of the Business Accounting and Taxation Courses in Kerala, or anywhere else for that matter you must carefully review the learning objectives of the course, the subjects the course will cover, the opportunity that the curriculum will give you to build your proficiency in working on accounting software and practical knowledge of the filing of IT and GST returns and reports.
The following list is not exhaustive, but it still gives you an idea about the subjects that you should aim to cover in the course and this will help you in making an informed decision to choose the course that is right for you.
- Preparation of Financial Statements.
- Recording of day-to-day accounting transactions.
- Clarity on accounting fundamentals.
- Banking and vendor/customer ledger reconciliation
- Day to Day accounting entries
- Treatments of GST and TDS
- Payroll Management
- Inventory Management
- Various Financial Reporting
- GST Returns
- Detailed overview of the indirect taxation system of India
- Input Tax Credit utilization
- GST registration and compliance
- Filing of various GST returns
- E-way bills and e-invoicing
Business Accounting and Taxation Courses in Kerala
1. IIM SKILLS
The institute, since its inception in 2015 has been a pioneer in the online education sector. They are particularly known for courses that are designed to equip you with the most updated knowledge both in terms of concept and application. So, if you are looking for Business Accounting and Taxation Courses in Kerala, you can enroll in their 4-month long Business Accounting & Taxation Course, recognized by the Government of India.
The curriculum aims to cover all the key concepts of accounting and taxation with 120+ hours of lectures and at the same time equips you with practical knowledge of working with accounting software and e-filing of various forms and reports in government portals with 60+ hours of practical training. The BAT Course curriculum covers the following subjects:
- Module-1: Basics of accounting and introduction to Tally
- Accounting theory and concepts
- Basics of Tally
- Accounting in Tally ERP9 & Tally Prime
- Module-2: Understanding GST & entering GST in Tally
- Understanding GST
- Structure of GST
- Different taxes under GST
- Reverse Charge Mechanism (RCM)
- Invoicing, credit note, bill of supply & E-way Bill in GST
- GST returns
- GST input and output reconciliation.
- Fundamentals of GST in Tally
- Recording of GST in Tally
- Online filing of GST returns using Tally
- Offline GST return filing
- Module-3: TDS and TDS entry using Tally
- Understanding the TDS process
- Generating TDS documents and files
- Recording TDS entries using Tally
- E-filing of TDS and TCS
- Module-4: Payroll
- Payroll accounting entries
- Processing Employer PF Contribution & payment of PF
- Processing Employer ESI Contribution & payment of ESI
- Payment of Professional Tax
- Learning to integrate payroll in Tally
- Performing all payroll-related entries in Tally
- Module-5: Income Tax
- Computation of Income tax
- E filing of Income Tax
- Module-6: MIS reporting and Excel
- Learning basic and advanced tools of Excel
- Generating reports, charts, and graphs using Excel
- Compiling MIS reports
Important Features of the Course
The course is delivered through online interactive classes. If you are a working professional, they also have the option of a weekend batch. If you miss a class due to any exigency, there is no need to worry since class recordings are available in the institute’s unique Learning Management System (LMS), you also get access to other important tools and resources in the LMS.
The curriculum has been designed by industry experts and you are taught by highly experienced trainers and mentored by CAs who give you a holistic understanding of all the key concepts and at the same time provide you with the necessary practical skills in handling accounting software like Tally and QuickBooks. Learn advanced Excel, Payroll, MIS Reports, Income Tax, and GST.
The institute also provides career guidance by the way of resume building and interview tips and placement assistance through job referrals.
- ü Completed B. Com or graduation in a related field from a recognized university
- ü Working professionally in a relevant field
Course Duration- 4 months
Course Fee- ₹ 9,900 + 18% GST
Certificate– Business Accounting and Taxation Master Certification by IIM SKILLS
Contact Number– +91-9580740740 | E-mail– firstname.lastname@example.org
2. ICA EDU SKILLS
The institute has 24 years of experience in delivering job-oriented vocational courses and if you are looking for online Business Accounting and Taxation Courses in Kerala, this can be a very good option for you. They focus on building real job skills through a curriculum that is designed by industry veterans and also through a lot of real-time live projects. Broadly, the curriculum covers the following subjects in detail.
|Business Accounting||Tally Prime|
|Introduction to Accounting Concepts||Company creation|
|Capital & Revenue Transactions||Cost Centre & Cost Category|
|Depreciation||Bill of Materials|
|Stock Valuation||Purchase & Sales Cycle|
|End of Year Adjustments||Basic concepts of GST|
|Final Accounts||GST using Tally Prime|
|Rectification of Errors||Generation of Returns|
|Bank Reconciliation Statement||Tax deduction at Source (TDS)|
|Tax Deducted at Source (TDS)||Provident Fund (PF)|
|Basic concepts of TDS||Employees’ State Insurance (ESI)|
|Payment of TDS||Security|
|Filing of TDS Return||Goods & Services Tax (GST)|
|TDS Certificate||Basic concepts of GST|
|TDS using Tally||Levy & Collection of Tax|
|Computation of Taxable Income||Valuation|
|E-TDS Return||Payment of Tax|
|GST using Tally Prime|
Important features of the course
This is a vocational course that runs for 4 weeks and includes 170+ hours of online classes and practical assignments.
The institute has an exclusive learning app that you can access online and it has various resources that help you in your studies, like additional notes, assignments, quizzes, mock tests, etc.
The institute has placement offices in 30+ cities in India and will also provide you with placement assistance.
- ü Completed 10 + 2
- ü Pursuing Graduation
- ü Must pass the Common Entrance Examination conducted by the institute
Course Fee- ₹ 24,999
Course Duration- 4 weeks
Certificate– Industry-recognized certificate by ICA Eduskills
Contact- Mobile: +918100704872 | WhatsApp: +918450006000
The institute has a large footprint in Kerala and has study centers spread across all major cities of the state, including Thiruvananthapuram, Kochi, Alappuzha, and Kozhikode, to name a few. If you have already completed your Bachelor’s degree or Master’s degree in commerce and are looking for Business Accounting and Taxation Courses in Kerala to upskill yourself, then you can opt for their Post Graduate Diploma in Business Accounting and Taxation. The curriculum covers the following subjects in a detailed manner.
|Goods and Services Tax|
|ESI and PF|
|Management Information System (MIS)|
Important Features of the Course
The course is conducted in the hybrid mode where you will have to attend some classes in person while some of the other classes are conducted online. It covers all the subjects in detail and backs it up with 500+ hours of practical exercises and 15+ case studies.
If you are looking for Business Accounting and Taxation Courses in Kerala, where the medium of instruction is in Malayalee then you can consider their course where classes are conducted in the local vernacular language.
Throughout the course, they aim to make you industry-ready by giving you a well-rounded exposure to accounting software like Tally Prime, SAP Fico, and Zoho Books and knowledge about Indian corporate laws, direct and indirect taxes, accounting, and auditing.
They provide 3 months of internship and placement support, as well.
- ü Completed B. Com or M. Com
- ü Completed MBA
- ü Working professionals in relevant field
Course Fee- ₹ 63,000
Course Duration- 12 months
Certificate– Post Graduate Diploma in Business Accounting and Taxation
Address- No. 23/1, 2nd floor, 17th Cross Road, Govindaraja Nagar Ward,
MC Layout, Vijayanagar, Bengaluru, Karnataka- 560040
Contact Number– +91 8943644444 | E-mail– email@example.com
- Online Business Accounting and Taxation Courses
- Business Accounting and Taxation Courses in India
- Business Accounting and Taxation Courses in Chandigarh
- Business Accounting and Taxation Courses in Guwahati
4. ATI SKILLS
The institute offers a variety of online vocational training in Business Accounting and Taxation Courses in Kerala. They have designed their course to make the participants industry-ready and equipped with the necessary knowledge and skills to work in the field of accounting and taxation. The course covers the following subjects:
|Sales & purchase invoice|
|Receipts & payments voucher|
|Debit & credit note|
|Accounting for bad & doubtful debts|
|Accounting for different types of business|
|Preparation of cash flow, fund flow, and ratio analysis|
|Concepts of Goods and Services Tax|
|E-filing of GST returns|
|Concepts of Income Tax|
|Calculation of income tax and tax slabs|
|E-filing of Income Tax|
Important Features of the Course
The course runs for 450 hours and it covers all the essential subjects in the field. They put a lot of stress on practical knowledge, so you will have to dedicate almost 70% time to real-life assignments and case studies.
The institute has a training simulator so that you can practice filing IT and GST returns in the simulator instead of doing those tasks live on the official government website and worrying about making mistakes.
- ü Completed B. Com
- ü Working Professionals in relevant field
Course Duration- 450 hours
Certificate– Advanced Diploma in Business Accounting and Taxation
Address- 2nd Floor, Zam Zam Building, Nandilath G-mart Junction,
Mavoor Road, Calicut-673004
Contact Number– +91-9447281489 | E-mail– firstname.lastname@example.org
The National Institute of Financial Markets (NIFM) has been offering short-term and long-term job-oriented courses in the field of accounting and taxation since 2008. They offer both classroom and online courses across various cities in India. So, if you are looking for offline Business Accounting and Taxation Courses in Kerala this is a very good option for you.
They give a special focus on building proficiency in working with Tally ERP9 accounting software and a working knowledge of GST and TDS. The curriculum covers the following subjects in detail.
|Module 1||Business Accounting|
|Module 2||Goods And Services Tax (GST) filing with Tally ERP9|
|Tax Deducted at Source (TDS) filing with Tally ERP9|
|Tax Collection at Source with Tally ERP9|
|Module 3||Payroll with Tally ERP9|
|Income Tax with Tally ERP9|
|Module 4||Goods And Services Tax (GST)|
Important Features of the Course
The course is conducted in a classroom setting, where you will be trained by experienced trainers. All the necessary infrastructure is provided by the institute during the class for you to learn and practice.
The course is heavy on practical training as it aims to give you hands-on experience in handling Tally ERP9 accounting software. You are also given thorough working experience in various direct and indirect taxes of the government, labor laws, Wage Laws, PF and ESI Acts, and e-filing of various government forms and reports.
- ü Completed 10 + 2
- ü Graduate (preferably commerce graduate)
- ü Undergraduate
Course Fee- ₹ 50,000 + GST (in 4 Installments) | ₹ 40,000 + GST (onetime payment)
Course Duration- 6 months
Certificate– Diploma in Financial Accounting from NIFM
Address- Thiruvananthapuram (Kerala) Centre
TC 28/286, First Floor, Pound Road, Thycaud, Thiruvananthapuram, Kerala-695014
Contact Number– 8075767278 | E-mail– email@example.com
What is the fee for Business Accounting and Taxation Courses in Kerala?
Course fee for Business Accounting and Taxation Courses in Kerala depends upon a number of factors. Course duration, curriculum, degree of expertise provided by the course, and certificates provided are some of the important factors. Generally speaking, a short-duration, basic course costs in the range of ₹25,000 to ₹30,000, while a longer-duration course with a more comprehensive curriculum costs between ₹60,000 to ₹65,000.
Will I be able to enroll in a Business Accounting and Taxation Course after passing class 12?
There are a few courses that you can join after completing your class 12, preferably in the commerce stream. However, it is best to enroll in a Business Accounting and Taxation Course after completing your B. Com (commerce graduate). Graduates specializing in Banking and Commerce (BBI) and Bachelor of Accounting and Finance (BAF) can also apply. The course is also beneficial for Cost Accountants, Company Secretaries, and Chartered Accountants.
What are my job prospects after completing Business Accounting and Taxation Courses in Kerala?
According to the Indian Skills Report for 2022, Kerala is one of the topmost states in terms of the employability of its youth. It is also among the top 5 states where maximum hiring activity is forecasted in the immediate future. So, this is just the right time to complete a skill-based professional course like Business Accounting and Taxation, which helps immensely in opening up job opportunities, particularly at a time when economic activity in the state is showing encouraging growth after the setback faced during the COVID-19 pandemic.
What kind of salary can I expect after completing Business Accounting and Taxation Courses in Kerala?
Broadly speaking, the indicative salary after completing the course can be categorized as follows
|Account Executive||₹1.5 lakhs PA* to ₹1.5 lakhs PA|
|Account Assistant||₹1.5 lakhs PA to ₹2.5 lakhs PA|
|Senior Assistant||₹2.5 lakhs PA to ₹3.8 lakhs PA|
|Accounts Manager||₹3.8 lakhs PA to ₹7.5 lakhs PA|
|Senior Manager||₹7.5 lakhs PA to ₹9.5 lakhs PA|
|DGM/ GM||₹9.5 lakhs PA to ₹14.5 lakhs PA|
|PA*- Per Annum|
It is important to note here that the salary depends primarily on job location and experience.
The activity of Business Accounting and Taxation has completely transformed from what it used to be in the past. There are two primary reasons for this. First and foremost, with the introduction of GST, businesses are required to comply with various rules and regulations and file returns and reports; this requires guidance from qualified professionals. Furthermore, almost the entire accounting activity is done with the help of software applications, like Tally, QuickBooks, etc. which requires professionals, proficient in handling those software. This is the reason why an application-based interdisciplinary course like Business Accounting and Taxation will go a long way in developing your skills and employability.