Fundamentals of Accounting and Introduction to Tally Software

• In this course, you will learn to:
• Define the fundamental concepts and utility of accounting, emphasizing its role in business
• Identify various methods of accounting and understand their application in financial reporting
• Organize basic books of accounts and summarize the process of recording financial transactions
• Demonstrate the setup and navigation in Tally Prime, illustrating its importance in modern accounting
• Compare Tally ERP 9 and Tally Prime, highlighting the advancements in the latter
• Categorize and assemble different features within Tally Prime focusing on accounting, inventory, and taxation
• Examine and report on the creation and management of company data within Tally Prime
• Differentiate and organize voucher types and chart of accounts for efficient financial management
• Predict and analyze financial outcomes using multi-master features in Tally to preview financial statements
• Operate and modify accounting vouchers emphasizing receipt and payment transactions in Tally Prime
• Find and apply advanced accounting and inventory voucher configurations for comprehensive financial tracking
• Distinguish between various specialized voucher types, understanding their specific uses and implications in accounting
• Estimate financial standings and rate business performance through detailed financial statement analysis in Tally Prime

• At the end of this course, learners will be able to:
• Interpret the key concepts and significance of accounting in the business context to understand its foundational importance
• Illustrate different accounting methodologies and their relevance to financial accuracy and compliance
• Paraphrase the steps involved in organizing basic books of accounts and the process for recording financial transactions
• Demonstrate proficiency in using Tally Prime for accounting tasks showcasing effective setup and navigation skills
• Compare the features and functionalities of Tally ERP 9 and Tally Prime to identify improvements and enhancements
• Construct company profiles within Tally Prime incorporating essential accounting, inventory, and taxation details
• Report on the systematic approach to creating, managing, and analyzing company data within Tally Prime
• Categorize various voucher types and chart of accounts in Tally Prime, establishing organized financial management practices
• Predict financial outcomes and appraise business performance through advanced features in Tally for financial statement analysis
• Utilize different types of accounting vouchers in Tally Prime, focusing on accurate receipt and payment transaction recording
• Experiment with and apply advanced configurations for accounting and inventory vouchers in Tally Prime for detailed financial tracking
• Differentiate and assess the implications of specialized voucher types, understanding their roles in complex accounting practices
• Estimate and judge business performance and financial health by analyzing comprehensive financial statements within Tally Prime

The academic approach of the course focuses on ‘work-centric’ education. With this hands-on approach, derive knowledge from and while working to make it more wholesome, delightful and useful. The ultimate objective is to empower learners to also engage in socially useful and productive work. It aims at bringing learners closer to their rewarding careers as well as to the development of the community.

• Step 1: Learners are given an overview of the course and its connection to life and work
• Step 2: Learners are exposed to the specific tool(s) used in the course through the various real-life applications of the tool(s).
• Step 3: Learners are acquainted with the careers and the hierarchy of roles they can perform at workplaces after attaining increasing levels of mastery over the tool(s).
• Step 4: Learners are acquainted with the architecture of the tool or tool map so as to appreciate various parts of the tool, their functions, utility and inter-relations.
• Step 5: Learners are exposed to simple application development methodology by using the tool at the beginner’s level.
• Step 6: Learners perform the differential skills related to the use of the tool to improve the given ready-made industry-standard outputs.
• Step 7: Learners are engaged in appreciation of real-life case studies developed by the experts.
• Step 8: Learners are encouraged to proceed from appreciation to imitation of the experts.
• Step 9: After the imitation experience, they are required to improve the expert’s outputs so that they proceed from mere imitation to emulation.
• Step 10: Emulation is taken a level further from working with differential skills towards the visualization and creation of a complete output according to the requirements provided. (Long Assignments)
• Step 11: Understanding the requirements, communicating one’s own thoughts and presenting are important skills required in facing an interview for securing a work order/job. For instilling these skills, learners are presented with various subject-specific technical as well as HR-oriented questions and encouraged to answer them.
• Step 12: Finally, they develop the integral skills involving optimal methods and best practices to produce useful outputs right from scratch, publish them in their ePortfolio and thereby proceed from emulation to self-expression, from self-expression to self-confidence and from self-confidence to self-reliance and self-esteem!