Periyar Maniammai Institute of Science & Technology

Learning Path

Non-Linear: Random Order

About the Course

Course Description

This advanced course is designed for students who possess a comprehensive understanding of accounting and taxation principles. It aims to explore a range of topics relating to accounting and taxation, including budgeting, forecasting, income tax calculation, tax management and payroll. By undertaking this advanced level of learning, students will acquire crucial knowledge about accounting budgets.

The course will provide a comprehensive overview of payroll accounting, encompassing the calculation and recording of payroll taxes and withholding. Students will also gain insights into various types of business taxes and develop skills in tax return preparation. Furthermore, the course will delve into auditing principles, covering internal audit procedures and the necessary preparations for external audits. Students will learn techniques for identifying and rectifying errors in financial records, as well as ensuring compliance with tax regulations.

Objectives

• The course aims to provide students with a comprehensive understanding of financial statements such as income statements, balance sheets and cash flow statements.

• Students should be able to analyze and interpret these statements to make informed decisions.

• The course aims to familiarize students with tax laws and regulations including federal, state and local tax laws.

• Students should be able to understand tax codes, exemptions, deductions and credits and apply them to real-life business scenarios.

• The course aims to provide students with an understanding of basic bookkeeping and accounting principles.

• Students should be able to maintain financial records including transactions, ledgers and journals.

• The course aims to teach students how to prepare budgets and forecasts for a business.

• Students should be able to analyze financial data and create financial plans to achieve business goals.

• The course aims to provide students with knowledge of auditing and internal control procedures.

• Students should be able to identify potential fraud and internal control weaknesses and design controls to mitigate these risks.

• The course aims to familiarize students with accounting software used in businesses today.

• Students should be able to navigate and use accounting software to manage financial data and create reports.

Who Should Take This Course?

• Business owners and entrepreneurs who owns a business or planning to start one. This course will help you manage your finances better and make informed decisions.

• Accounting and finance professionals who are working in the accounting or finance industry, this course will provide you with the knowledge and skills needed to excel in your role.

• Students who are studying business, accounting or finance taking this course will supplement your learning and provide you with a solid foundation in accounting and taxation.

Course Study Materials

Module 1: BUDGETING AND FORECASTING

1.1 Definition and Explanation of Budgeting and Forecasting
1.2 Budgeting and Forecasting Techniques
1.3 Forecasting & Budgeting Process
1.4 Preparing a Budget and Forecast
1.5 Budgeting and Forecasting Tools
BUDGETING AND FORECASTING - Assessment 5 Questions

Module 2: TAXATION LAWS AND REGULATIONS

2.1 Definition of Taxation Law
2.2 Taxation Laws and Regulations
2.3 Local Taxation Laws and Regulations
2.4 Taxation Agencies and Authorities
2.5 Taxation Process
2.6 Tax Act
TAXATION LAWS AND REGULATIONS - Assessment 5 Questions

Module 3: INCOME TAX CALCULATION AND FILING

3.1 Importance of Income Tax Calculation and Filing
3.2 Taxable Income
3.3 Tax Rates
3.4 Tax Credits
3.5 Forms and Schedules
3.6 Electronic Filing
3.7 Tax Preparation Software
3.8 Consequences of Not Filing
INCOME TAX CALCULATION AND FILING - Assessment 5 Questions

Module 4: GOODS AND SERVICES TAX (GST)

4.1 Explanation of Goods and Services Tax (GST)
4.2 Benefits of GST
4.3 GST Structure
4.4 GST Registration
4.5 GST Returns
4.6 Input Tax Credit (ITC)
4.7 GST Compliance
4.8 GST Audit
4.9 GST for Small Businesses & E-commerce
GOODS AND SERVICES TAX (GST) - Assessment 5 Questions

Module 5: TAX PLANNING AND MANAGEMENT

5.1 Introduction to Tax Planning and Management
5.2 Types of Tax planning
5.3 Tax Planning Strategies
5.4 Tax Management Techniques
5.5 Taxation and Business
5.6 Taxation and Individuals
TAX PLANNING AND MANAGEMENT - Assessment 5 Questions

Module 6: PAYROLL

6.1 Introduction to Payroll
6.2 Payroll Processes and Stages
6.3 Employee Compensation and Benefits
6.4 Payroll Compliance
6.5 Payroll Reporting and Analysis
6.6 Payroll Best Practices
6.7 Recap of Key Concepts and Topics in Business Accounting and Taxation
6.8 Future Developments and Trends in Accounting and Taxation
PAYROLL - Assessment 5 Questions

Final Assessment

Final Assessment 20 Questions

The certificate issued for the Course will have the student's Name, Photograph, Course Title, Certificate number, Date of course completion and the name(s) and logo(s) of the Certifying Bodies. Only the e-certificate will be made available. No Hard copies. The certificates issued by uLektz Learning Solutions Pvt. Ltd. can be e-verifiable at www.ulektzskills.com/verify.

Students are required to take online assessments with eProctoring.
Students will be assessed both at the end of each module and at the end of the Course.
Students scoring a minimum of 50% in the assessments are considered for Certifications