Fundamentals of Accounting and Reporting from Coursera

This course is for those interested in starting a career in bookkeeping. The course will help you learn and apply the basic concepts of computerized accounting using TallyPrime, fundamentals of accounting, book-keeping, day-to-day business transactions, creating charts of accounts, preparing and analyzing management information systems, and how to secure company data.

The course is enriched with numerous real business scenarios, screenshots, observations, solved illustrations, and practice scenarios to help you experience the simplicity and the power of technology of working on TallyPrime as you solve these real-life business scenarios.

You will gain skills in the intricacies of business operations and learn to handle such transactions in the daily work environment with ease.

By the end of the course, you will be able to:

- Explain and apply the fundamentals of accounting

- Use TallyPrime as an integrated business management software

- Create and maintain chart of accounts

- Record and maintain accounting transactions

- Describe and manage banking payments

- Generate and analyze financial statements

- Implement security control to protect data

- Backup and restore company data

No prior experience in bookkeeping is required, but you should have an interest and aptitude in working with numbers.

What's inside

Syllabus

Fundamentals of Accounting

At the end of the module Fundamentals of Accounting, you will be able to, Define the Concept of Accounting, Explain the six phases of Accounting Cycles, Demonstrate the Golden Rules of Accounting, Define and explain Trial Balance, Trading Account, Profit and Loss Account, and Balance Sheet.

Introduction to TallyPrime

At the end of the module introduction to TallyPrime, You will be able to, Demonstrate the TallyPrime, Explain the features of TallyPrime, Download and Install TallyPrime, Use and Operate TallyPrime, Create Company and Set up Company Features in TallyPrime, Navigate within TallyPrime, Alter the company, Shut the company

Maintaining Chart of Accounts

At the end of the module Maintaing Chart of Accounts, You will be able to, Explain Chart of Accounts, Create Company Chart of Accounts, Create Accounting and Inventory Masters, Alter and Delete the Masters, Create the Multi-Masters and Display the Chart of Accounts

Recording and Maintaining Accounting Transactions

At the end of the module Recording and Maintaining Accounting Transactions, you will be able to, Record Day-to-Day Transactions in an actual business scenario and Generate the Financial reports in Tally

Banking

At the end of the module Banking, you will be able to, Describe Banking Payments, Configure and Print the single and multiple Cheques, Generate and Print Deposit Slip, Generate Cheque Deposit Slip, Generate Cash Deposit Slip, Generate and Print Payment Advice, Prepare Bank Reconciliation Statement.

Generating Financial Statements and MIS Report

At the end of the module Generating Financial Statement and MIS Report, you will be able to: • Generate and interpret Final Accounts Reports in Tally such as, - Trial Balance - Profit and Loss Account - Balance Sheet - Cash Flow and Funds Flow - Receipts and Payments • Generate and Interpret MIS (Management Information System) Reports. - Stock Summary - Daybook - Cash and Bank Books - Purchase Register - Sales Register - Journal-Register

Data Security

At the end of the module Data Security, you will be able to: • Describe Data Security & Security Control • Activate Security Control in Tally • Create the Security Levels, Assign the Users and Passwords for Company • Access the Company with Data Operators User Account • Change User feature in Tally • Activate the TallyVault Feature • Use Auto-Login option in Tally

Company Data Management

At the end of the module Company Data Management, you will be able to: • Explain the Data Backup and Restore Procedure • Take the Data Backup of Company in Tally. • Restore the Company Data from a Backup file in TallyPrime. • Repair the Company Data. • Migrate the Tally.ERP 9 Data to TallyPrime.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Teaches how to use TallyPrime, which is used for business management

Helps beginners learn the basics of bookkeeping and accounting

Goes over the fundamentals of accounting, such as the accounting cycle and financial statements

Uses numerous real-world business scenarios and examples to illustrate the concepts

Covers a wide range of topics related to bookkeeping, including banking, financial statements, and data security

Taught by Tally Education and Distribution Services Private Limited, which is a recognized provider of accounting and bookkeeping training

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Fundamentals of Accounting and Reporting with these activities:

Review Book: Accounting for Dummies

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Help refresh your understanding of fundamental accounting concepts and principles.

View Bookkeeping All-in-One For Dummies (For Dummies... on Amazon

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Read through the chapters on basic accounting principles.
Complete the practice exercises at the end of each chapter.

Attend Accounting Industry Meetups

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Connect with professionals in the accounting field and explore career opportunities.

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Identify and join relevant accounting industry groups on platforms like LinkedIn
Attend industry meetups and networking events

Volunteer at a Non-Profit Organization

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Gain practical experience and contribute to the community while applying your accounting skills.

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Identify non-profit organizations that align with your interests
Inquire about volunteer opportunities related to accounting
Assist with tasks such as bookkeeping, financial reporting, or tax preparation

Five other activities

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Follow Tutorials on TallyPrime Features

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Expand your knowledge of TallyPrime's capabilities and features through guided tutorials

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Identify specific TallyPrime features you want to learn more about
Search for and access relevant tutorials online
Follow the tutorial instructions and complete the exercises

Practice Double-Entry Accounting

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Develop your proficiency in recording accounting transactions using double-entry bookkeeping.

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Set up a practice company and chart of accounts
Record a series of transactions using TallyPrime
Prepare a trial balance to check the accuracy of your entries

Develop a Chart of Accounts for a Business

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Apply your understanding of chart of accounts and accounting practices by creating one for a business.

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Research industry best practices and identify relevant account categories
Create a hierarchical structure for the chart of accounts
Define the account codes and descriptions
Test and validate the chart of accounts using sample transactions

Attend a TallyPrime Workshop

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Enhance your practical skills and learn advanced techniques for using TallyPrime.

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Identify and register for a relevant workshop
Attend the workshop and actively participate in the exercises

Create a Blog Post on Accounting Best Practices

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Share your knowledge and insights on accounting best practices to reinforce your understanding.

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Research and identify key accounting best practices
Write a comprehensive blog post outlining these best practices
Publish the blog post on a relevant platform
Promote your blog post to reach a wider audience

Career center

Learners who complete Fundamentals of Accounting and Reporting will develop knowledge and skills that may be useful to these careers:

Junior Accountant

A Junior Accountant is responsible for assisting with various accounting tasks, such as data entry, bank reconciliations, and preparing financial reports. This course provides a solid foundation in the fundamentals of accounting, including the use of accounting software. With its focus on practical application and real-world business scenarios, this course may be useful for individuals seeking to enter the accounting field as Junior Accountants.

See salaries and explore the career path for Junior Accountant

Risk Manager

A Risk Manager is responsible for identifying and managing risks to a business's operations. This course provides a solid foundation in accounting principles and risk management techniques. With its emphasis on practical application and real-world business scenarios, this course may be useful for individuals aspiring to become Risk Managers, as it helps build a foundation in the core concepts and skills required for success in this role.

See salaries and explore the career path for Risk Manager

Financial Planner

A Financial Planner is responsible for helping individuals and families plan for their financial futures. This course provides a solid foundation in accounting principles and financial planning techniques. With its emphasis on practical application and real-world business scenarios, this course may be useful for individuals aspiring to become Financial Planners, as it helps build a foundation in the core concepts and skills required for success in this role.

See salaries and explore the career path for Financial Planner

Auditor

An Auditor is responsible for examining and evaluating financial records to ensure accuracy and compliance with regulations. This course provides a solid foundation in accounting principles and auditing procedures. With its emphasis on practical application and real-world business scenarios, this course may be useful for individuals aspiring to become Auditors, as it helps build a foundation in the core concepts and skills required for success in this role.

See salaries and explore the career path for Auditor

Tax Accountant

A Tax Accountant is responsible for preparing and filing tax returns, as well as advising clients on tax planning strategies. This course provides a solid foundation in accounting principles and tax laws. With its emphasis on practical application and real-world business scenarios, this course may be useful for individuals aspiring to become Tax Accountants, as it helps build a foundation in the core concepts and skills required for success in this role.

See salaries and explore the career path for Tax Accountant

Budget Analyst

A Budget Analyst is responsible for developing and managing budgets for businesses or government agencies. This course provides a solid foundation in accounting principles and budgeting techniques. With its emphasis on practical application and real-world business scenarios, this course may be useful for individuals aspiring to become Budget Analysts, as it helps build a foundation in the core concepts and skills required for success in this role.

See salaries and explore the career path for Budget Analyst

Forensic Accountant

A Forensic Accountant is responsible for investigating financial crimes, such as fraud and embezzlement. This course provides a solid foundation in accounting principles and forensic accounting techniques. With its emphasis on practical application and real-world business scenarios, this course may be useful for individuals aspiring to become Forensic Accountants, as it helps build a foundation in the core concepts and skills required for success in this role.

See salaries and explore the career path for Forensic Accountant

Compliance Officer

A Compliance Officer is responsible for ensuring that a business complies with laws and regulations. This course provides a solid foundation in accounting principles and compliance requirements. With its emphasis on practical application and real-world business scenarios, this course may be useful for individuals aspiring to become Compliance Officers, as it helps build a foundation in the core concepts and skills required for success in this role.

See salaries and explore the career path for Compliance Officer

Management Accountant

A Management Accountant is responsible for providing financial information and analysis to help businesses make informed decisions. This course provides a solid foundation in accounting principles and management accounting techniques. With its emphasis on practical application and real-world business scenarios, this course may be useful for individuals aspiring to become Management Accountants, as it helps build a foundation in the core concepts and skills required for success in this role.

See salaries and explore the career path for Management Accountant

Cost Accountant

A Cost Accountant is responsible for analyzing and reporting on the costs of a business's operations. This course provides a solid foundation in accounting principles and cost accounting techniques. With its emphasis on practical application and real-world business scenarios, this course may be useful for individuals aspiring to become Cost Accountants, as it helps build a foundation in the core concepts and skills required for success in this role.

See salaries and explore the career path for Cost Accountant

Investment Analyst

An Investment Analyst is responsible for evaluating and recommending investments for individuals and institutions. This course provides a solid foundation in accounting principles and investment analysis techniques. With its emphasis on practical application and real-world business scenarios, this course may be useful for individuals aspiring to become Investment Analysts, as it helps build a foundation in the core concepts and skills required for success in this role.

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Staff Accountant

A Staff Accountant is responsible for performing various accounting tasks, such as recording transactions, preparing financial statements, and assisting in audits. This course provides a comprehensive overview of accounting principles and practices, including the use of computerized accounting systems. With its emphasis on practical application and real-world business scenarios, this course may be useful for individuals aspiring to become Staff Accountants, as it helps build a foundation in the core concepts and skills required for success in this role.

See salaries and explore the career path for Staff Accountant

Financial Analyst

A Financial Analyst is responsible for analyzing financial data to make informed investment decisions. This course provides a solid foundation in accounting principles and financial analysis techniques. With its emphasis on practical application and real-world business scenarios, this course may be useful for individuals aspiring to become Financial Analysts, as it helps build a foundation in the core concepts and skills required for success in this role.

See salaries and explore the career path for Financial Analyst

Bookkeeper

A Bookkeeper is responsible for keeping accurate and up-to-date financial records for a business. This course provides a solid foundation in the fundamentals of accounting and financial reporting, which are essential skills for success in this role. The course also covers the use of TallyPrime, a popular accounting software, which gives learners hands-on experience with the tools used in the field. With its practical approach and focus on real-world scenarios, this course may be useful for aspiring Bookkeepers looking to gain a competitive edge in the job market.

See salaries and explore the career path for Bookkeeper

Accounting Clerk

An Accounting Clerk is responsible for performing routine accounting tasks, such as processing invoices, maintaining accounts receivable and payable, and preparing reports. This course provides a basic understanding of accounting principles and procedures, including the use of accounting software. With its focus on practical application and real-world business scenarios, this course may be useful for individuals seeking to become Accounting Clerks.

See salaries and explore the career path for Accounting Clerk