Well, business & financial accounting processes consume a lot of resources in preparing statements, reports, charts, and other data on an urgent basis…
Accounting as we all know by now, displays the financial health of a business. Be it any type or scale of business – ascertaining profits and maintaining books of accounts is absolutely essential to keep a tab on the financial position of the business. Financial accounting operations involve complex scenarios, huge operational budget, more customers, and gigantic ledger records. As the business grows, it faces shortcomings in handling enormous books of accounts and fiddle with adequate tools. Practicing good financial bookkeeping and engaging right accounting software provides a straightforward, initiative and powerful accounting solution. A good accounting institute includes modules to teach one or more popular accounting software in use for the benefit of students.
SAP stands for System Application and Products in Data processing. SAP is a leading ERP (Enterprise Resource Planning) software…
Balance Sheet is one of the most important financial statements prepared by a business firm. It’s like a one-stop shop for gauging the financal status and position of a company. The financial details of the balance sheet helps the business and the external stakeholders to evaluate the financial performance of the business on a given date. Preparing a balance sheet in Tally.ERP 9 is an important skill to master in any Tally course.
Just like every other report, the source to preparing a balance sheet is from the transactions accounted in the firm’s books of accounts. In the process of preparing the balance sheet, the maker needs to prepare other financial statements which will help gather the accounting data.
Accounting and business success are two sides of the same coin. Accounting takes care of the financial aspects of the business. It is taught in colleges and accounting training institutes. Almost everything revolving around accounting deals with numbers, calculations, estimations, and decision making. So people generally take it as something serious, and it is. Accountants mean business. But there are other sides to them too.
Read on to know some unknown, some fun, and some downright weird facts about accounting and accountants.
GST (Goods and Services Tax) was brought into existence on 1st July 2017 by the Statutory GST Act of 2017. Since then a lot of changes and reforms have been brought about to iron out the wrinkles prevalent in the GST regime. One such modification brought about is the introduction of Reverse Charge Mechanism (RCM) under GST. Understanding this concept is important for students enrolled in a GST course.
Accounting, as the art and science of systematically recording financial transactions, is a diverse discipline. A lot of interrelated cogs work together to run the wheel of accounting. In order to make the best use of any accounts course, it is imperative to understand all of them properly. Today we deal with two of them – Accounting and Auditing.
The global coronavirus pandemic rages on with no end in sight. The effects of the disease have been devastating. The pandemic has transformed health, economic balances, and social
Commerce is a popular stream among students in India. Having already studied the basics of Commerce in school allows candidates to choose from a multitude of courses at graduation level. It surely paves the way for a range of career choices, but finding the best accounting courses to pursue is often a difficult task.
A bright career in finance and accountancy is what is sought after by commerce students. Students generally learn a plethora of subjects in the commerce stream like business studies, economics, etc. But accountancy is the at the heart of this stream. It’s worth mentioning here that a career in Accountancy and Finance is not limited to commerce students only; it can also be pursued by students with science or arts background as well. In other words, anyone with an interest in finance and accounts can pursue these courses. The students need to develop their fundamental knowledge for pursuing the best accounting courses.
SAP FICO is a core functional component in SAP ERP Central Component that allows an organization to manage all of its financial data. The purpose of SAP FICO is to help companies generate and manage financial statements for analysis and reporting and help with effective business planning and decision-making. Today we will discuss top SAP FICO topics in Q&A format. This will benefit candidates seeking to enroll in any SAP course.
Tally.ERP 9 with around 1.6 million users around the globe is the numero uno ERP accounting software package. As you might know, it is used for recording the daily business data of a company. With the advent of the GST regime in India, Tally.ERP 9 has made strides to be GST-ready. Today our agenda is to talk about how Tally.ERP 9 can be effectively used for GST compliance. This is something that is absolutely necessary to understand before one opts for any kind of GST training.
It’s worth mentioning here that Tally facilitates easy management of GST data, even in the middle of a financial year. Users are required to provide only the date of commencement of GST for the specific set of transactions. This way, GST becomes applicable only for these transactions. Even the data related to the pre-GST tax regime doesn’t need to be altered. Dividing the dataset into two different tax entities is not required as Tally.ERP 9 handles them well as-is.
Tally’s latest introduction to Tally.ERP 9 Release (or Version) 6.6 is GST ready consisting of all features facilitating Tally GST billing, GST returns filing besides error detections and corrections. There are other top features that Tally has to offer when it comes to GST compliance which are important to under for GST training. Let us now see take a closer look.
Accounting is like the Swiss Army Knife of recording financial transactions. What we’re going to deal with today is the very basic terms of this profession. To pursue any accounting course or any form of accounts training we need to have a solid foundation of the terminologies used in accounting.
Read on to know (or recapitulate) the very basic terminologies of accounting which will help you fly higher than your peers in any accounting course that you may enroll in.
Among Enterprise resource planning (ERP) software available in the market, the one made by European multinational firm SAP SE is as good as it gets. SAP SE is the numero uno provider of business software solutions for better work and data management in businesses spanning across industries. SAP or System Application and Products (yes, like it or not, the company and its product names are the same) is efficient and productive, which makes it a priority choice among businesses.
It is estimated that about 4 lakh users across the world including Apple, Microsoft, BMW, Ford, etc. use some or the other component of SAP. Thus it is self-explanatory that SAP training is in high demand.