Cover
Cover
Copyright
Contents
Chapter 1: Introduction to Accounting
Introduction
Exploring the Concepts of Accounting
Business Entity Concept
Dual Aspect Concept
Accounting Period Concept
Cost Concept
Money Measurement Concept
Going Concern Concept
Accrual Concept
Matching Concept
Understanding the Conventions of Accounting
Convention of Full Disclosure
Convention of Materiality
Convention of Consistency
Convention of Conservatism
Important Accounting Terms
Double Entry System
Accounts and its Types
Personal Account
Impersonal Account
Explaining the Rules of Debit and Credit
Describing a Journal
Types of Journal Entry
Recording a Transaction in a Journal
Defining a Compound Journal Entry
Ledger
Difference Between Journal and Ledger
Essential Features of Ledger
Advantages of Ledger
Subdivision of Ledger
Posting Transaction to a Ledger
Balancing an Account
Trial Balance
Objectives of Trial balance
Features of Trial Balance
Advantages of a Trial balance
Methods of Preparing a Trial Balance
Limitation of Trial Balance
Rectification of Errors in Trail Balance
Locating Errors in Trial Balance
Summary
Chapter 2: Business Organisation
Introduction
Form of Business Organisations
Sole Proprietorship
Partnership
Limited Liability Partnership
Company
Hindu Undivided Family-HUF
Co-operative Society
Trust
Classification of Business Organisations
(Trading Organisation
(Sevice Organisation
Manufacturing Organisation
Summary
Chapter 3: Understanding Financial Statements
Introduction
Purchases
Direct Expenses
Indirect Expenses
Difference between Income and Expenditure
Understanding Revenue from Operation
Difference between Assets and Liabilities
Describing Financial Statements
Objectives of Financial Statements
Types of Financial Statements
Format of Financial Statement
Format of Financial Statement for Sole Proprietor
Format of Financial Statement for Company
The Trading and Manufacturing Account
Manufacturing Account
The Profit & Loss Account
Balance Sheet
Difference between Profit & Loss Account and Balance Sheet
Cash Flow Statement
Method for Preparing Cash Flow Statement
Advantages and Disadvantages of Cash Flow Statement
Fund Flow Statement
Method of Preparing Fund Flow Statement
Preparing Statement of Changes in Working Capital
Calculating Operating Income
Preparing Fund Flow Statement
Summary
Chapter 4: Computerised Accounting
(Introduction
Exploring Computerised Accounting
(Need of Computerised Accounting
Merits of Computerised Accounting
Demerits of Computerised Accounting
Different Computerised Accounting Software
Tally
Busy
Zoho Books
Sage 50 Accounting
QuickBooks
Marg
SAP
Summary
Chapter 5: Valuation of Inventory
Introduction
Inventory
Method of Taking Inventory
Periodic Inventory System
(Perpetual Inventory System
Methods of Inventory Valuation
First In First Out Method - FIFO
Last In First Out Method - LIFO
Average Cost Method
Standard Price Method
Summary
Chapter 6: Introduction to Tally.ERP 9
Introduction
Salient Features of Tally.ERP 9
Technological Advantages of Tally.ERP 9
Installing Tally.ERP 9 Software
Opening Tally.ERP 9 Application
Fundamentals of Tally.ERP 9
Title Bar
Horizontal Button Bar
Gateway of Tally Screen
Button Bar
Product Information Bar
Status Bar
Mouse/Keyboard Conventions
Switching between Screen Areas
Quitting Tally.ERP 9 Application
Creating a Company
Selecting a Company
Shutting a Company
Deleting a Company
(Company Features
Company Configuration
Summary
Chapter 7: Creating Masters in Tally.ERP 9
Introduction
Creating a Chart of Accounts
Creating Accounting Masters in Tally.ERP 9
Groups
Ledgers
Creating Inventory Masters in Tally.ERP 9
Stock Group
Stock Categories
Godowns
Units of Measurement
Stock Items
(Summary
Chapter 8: Working with Vouchers
Introduction
Types of Vouchers
Creating Voucher Type
Displaying Voucher Type
Altering Voucher Type
Accounting Vouchers
Receipt Voucher
Payment Voucher
Contra Voucher
Journal Voucher
Purchase Voucher
Purchase Invoice
Sales Voucher
Sales Invoice
Debit Note
Credit Note
Inventory Voucher
Receipt Note Voucher
Delivery Note Voucher
Physical Stock Voucher
Order Processing Voucher
Purchase Order Processing
Sales Order Processing
Summary
Chapter 9: Advanced Accounting Features
Introduction
Bill-wise Details
Cost Categories
Creating a Single Cost Category
Displaying a Single Cost Category
Altering a Single Cost Category
Creating Multiple Cost Categories
Displaying Multiple Cost Categories
Altering Multiple Cost Categories
Cost Centres
Creating a Single Cost Centre
Displaying a Single Cost Centre
Altering a Single Cost Centre
Creating Multiple Cost Centres
Displaying Multiple Cost Centres
(Altering Multiple Cost Centre
Creating a Voucher using Cost Centres
Budget
Creating a Budget
Altering a Budget
Displaying a Budget Variance Report
Interest Calculation
Enabling the Interest Calculation Feature
Creating Party Ledger
Creating Sales Voucher
Booking Interest to Ledger Accounts
Bank Reconciliation Statement
Understanding Scenario Management
Configuring Settings for Scenarios
Creating a Scenario
Altering a Scenario
Creating Optional Journal Voucher
Using Scenarios in Reports
Summary
Chapter 10: Generating and Printing Reports in Tally.ERP 9
Introduction
Financial Statements
Balance Sheet
Profit & Loss Account
Trial Balance
Day Book
Accounting Books and Registers
Cash Book
Bank Book
Purchase Register
Sales Register
(Inventory Books and Registers
(Stock Summary
Stock Item Summary
Stock Group Summary
Sales Orders Book
Purchase Orders Book
Stock Ageing Analysis
(Stock Valuation Method
Statements of Accounts
Bills Receivable
Bills Payable
Cost Category Summary Report
Management Information System (MIS) Reports
Cash Flow Statement
Fund Flow Statement
Ratio Analysis
Exception Report
Printing Reports
Type of Print Configuration Options
Print Format
Multi-Accounting Printing
(Summary
Chapter 11A: Tax Deducted at Source
Introduction
Tax Deduction Account Number
How to Apply for TAN?)
Variouses Sections and Rates of TDS
Basic Terminologies of TDS
Enabling TDS in Tally.ERP 9
Creating TDS Statutory Masters
Greating Ledgers for TDS
Creating Expense Ledger
Creating Party Ledger
Creating Tax Ledger
Creating TDS Voucher
Creating Journal Voucher for TDS on Expense
Creating Payment Voucher
Viewing TDS Report
Viewing the Form 26Q Report
Viewing the Form 27Q Report
Reconciliation of Challan Payments
TDS Outstandings
Ledgers without PAN
Summary
Chapter 11B: Income Tax
Introduction
Income Tax
Permanent Account Number
Entities which can Apply for PAN
(Structure of the PAN
Applying for PAN Card
Tracking Status of PAN Application
Application for Changes/Correction/Modification/Update in PAN Card Details
(Types of Income Taxpayers in India
Various Heads of Income Under Income Tax Act
Income from Salary
Income from House Property
Income from Profits of Business or Profession
Income from Capital Gains
Income from Other Sources
Types of Income Tax Return (ITR) Forms
ITR-1 or SAHAJ
ITR-2
ITR-3
ITR-4 or Sugam
ITR-5
ITR-6)
ITR-7
Tax Deduction Under Income Tax from Total Income
Tax Deductions Under Section 80C
Tax Deduction Under Section 80D
Tax Deduction Under Section 80E
Tax Deduction Under Section 80G
Tax Deduction Under Section 80IA
Tax Deduction Under Section 80J
Tax Deduction Under Section 80LA
Tax Deduction Under Section 80P
Tax Deduction Under Section 80QQB
Tax Deduction Under Section 80RRB
Tax Deduction Under Section 80TTA
Tax Deduction Under Section 80U
Tax Audit Under Section 44AB of Income Tax Act
Objective of Tax Audit
Who all are Covered Under Tax Audit?
Defining Form 3CA/3CB and 3CD
Due Date for Taxpayer to Audit Accounts
Penalty for not Getting the Accounts Audited as Required by Section 44AB
Limit of Cash Transaction
E-filing the Income Tax Return
Responding to Defective Return Notice under Section 139(9))
Responding to Income Tax Notice under Section 143(1))
Summary
Chapter 12A: Goods and Services Tax
Introduction
Features of GST
Benefits of GST
Classification of GST
CGST
IGST
SGST
UTGST
Administrative Bodies of GST
Legal Phrases Used in GST
Sections of Goods and Services Tax
GST Rates in India
Difference Between CGST, SGST and IGST
Expenses Under GST Regime 3
Enrolling Under GST
Registration under GST
Amendments in Core and Non-core fields in Registration in GST
Difference between Regular Dealer and Composition Dealer
Supply
Necessary Elements that Constitute Supply under GST Law
Self Supply and GST
Time of Supply
Time of Continous Supply of Goods
Liability to Pay GST in Respect of Supply of Services
Supply of Services based on Invoice for Defined Time
Time of Supply in Continuous Supply of Services
(Place of supply
Place of Supply of Goods
Place of Supply for Services
Payment of GST
Methods of Paying Tax
Meaning of Date of Receiving Payment
Input Credit Tax
Considering GST as Input Tax upon Paying Reverse Charge
Necessary Conditions for Obtaining ITC)
Time Limit for Taking ITC
Order of Utilization
Ineligible Input and Their Credits
Reversal of ITC
Input Services Distributior (ISD))
Prerequisites for Enrolling as ISD
Conditions for Distribution of Credit
Credit Distribution under ISD
Electronic Commerce
Meaning of Aggregator
e-Commerce Opetator
(Deduction/Deposit of TCS by e-Commerce Opetator)
Mismatching of Details
Return and Input Tax Credit
Importance of Filling Return under GST
Uploading Challans/Bills
Annual Return and Final Return
(Making Changes after Filling the Return)
Filling Return by Taxpayer
Periodicity of Return Filing
Levy of and Exemption from Tax
Taxable Person
Power to Grant Exemption from Tax
Tax Refund in GST
Process to claim Refund under GST
Advance Ruling
Objective of Advance Ruling
Authority for A.A.R. and A.A.A.R. under GST
Applicability of Advance Ruling and its Time Period
Nullifying the Advance Ruling
Procedure for Obtaining Advance Ruling
Circumstances for Rejecting Applications under Advance Ruling
Meaning of Seacrh
Basic Requirements to be Observed During Search Operations
Meaning of Inspection
Meaning of Reasons to Believe
Search Warrant
Meaning of Seizure
Difference between Seizure and Detention
Safety Provisions Provided under GST Law for Search or Seizure
Meaning of Arrest
Precautions to be Taken During Arrest
Offence and Penalties
General Penalties
General Disciplines Related To Penalty
Circumstances under which Goods are Seized
Offences which can Lead to Warrant Prosecution under GST Law
(Summary
Chapter 12B: Practical in GST
Introduction
HSN and SAC Code
E-Way Bill
Purpose of E-way Bill
Objectives of E-way Bill
Features of E-way Bill
Benefits of E-Way Bill
E-Way Bill under GST
People Who Need E-Way Bill
Participants of E-Way Bill
Validity of E-way Bill
Cancellation of E-way Bill
Exceptions for E-way Bill
Penalties on Issuing Wrong E-way Bill
Mixed and Composite Supply under GST)
Bill of Supply and Invoice
Contents of invoice
Contents of Bill of Supply
Debit Note under GST
Credit Note under GST
GST Compliances Checklist
(Switching in GST
Deposit Tax in GST
Summary
Chapter 13: Working with GST in Tally.ERP 9
Introduction
Enabling GST and Setting GST Details in Tally.ERP 9
Creating Tax Classification in GST
Creating Masters for GST
Creating Central Tax Ledger
Creating State Tax Ledger
Creating Party Ledger
Creating Purchase Ledger
Creating Sales Ledger
Creating Service Ledger
Creating Stock Item
Creating Vouchers for GST
Creating Purchase Voucher
Creating Sales Voucher
Creating Sales Voucher for Providing Services
Creating Receipt Voucher for Advance Receipts from Customer
Creating Payment Voucher
Recording Voucher for Advance Payments to Supplier
Creating Journal Voucher for Tax Adjustment
Updating Party GSTIN
Viewing GSTR-1 Report
Viewing GSTR-3B Report
(Summary
Chapter 14A: Introducing Tax Return Preparer (TRP)
Introduction
Tax Return Preparer (TRP
TRP Scheme
Role of TRP
Pre-requisite of TRP
TRP Examination
TRP Training
Duties of TRP
Incentive of TRP
Resource Centre
Some Cautious Points for TRP
Do’s and Don’ts of TRP
Summary
Chapter 14B: Introducing GST Practitioner
Introduction)
GST Practitioner
Section 48 of CGST Act, 2017 – GST Practitioners
(Roles of GST Practitioner
Eligibility Criteria for GST Practitioner
GST Practitioner Registration Process
GST Practitioner Exam
Validity of GST Practitioner Certificate
Benefits of GST Practitioner
Summary
Chapter 14C: Cashless Transaction
Introduction
Meaning of Cashless Transactions
Different Ways of Making Cashless Transactions
Cheque
(Demand Draft
Online Transactions through NEFT and RTGS
Credit Card
Debit Card
Digital Wallet or E-Wallet
(Mobile Wallet
UPI App
BHIM App
Gift Cards
Aadhaar Enabled Payment System (AEPS))
Unstructured Supplementary Service Data (USSD))
Summary
Chapter 15: Basics of Other Relevant Miscellaneous acts
Introduction
ESI Act
Benefits for the Employer
Benefits for the Employee
(EPF Act
Applicability
Definition of Wages
Eligibility
Provident Fund Contribution
Gratuity Act
Application to Whom and in What Manner [Section 7]
Determination by Employer [Section 7]
Payment of Gratuity
(Tax on Gratuity Amount
(Nomination
Administrative Machinery
Responsibility of the Employees
Payment of Bonus Act
(Eligibility
Objective
Definitions
Payment of Bonus Act not to Apply to Certain Classes of Employees [Section 32]
Micro, Small and Medium Enterprises Development (MSMED) Act)
Definition of Micro, Small and Medium Enterprises(MSME))
Benefits to the MSME’s
Registration
IE Code
Key Features of IE Code
Procedure for obtaining IE Code
Procedures of Incorporation of a Company
Business Registration Number (BRN) Process
Definitions of Business and Business Register
(Scope and Coverage
Shop & Establishment Act
Premises Regulated by the Shop & Establishment Act)
Aspects Regulated by Shop and Establishment Act
Shop and Establishment Act License)
(Summary
Chapter6 16: Introduction to MS Excel 2010
(Introduction
Defining the Need for MS Excel
(Understanding Workbook and Worksheet
Starting MS Excel 2010 Application
Exploring the Ribbon
Entering Data in a Worksheet
Adjusting Column Width of Cells
Saving a Workbook
Closing a Workbook and Quitting MS Excel 2010 Application
Summary
Chapter 17: Using Functions in MS Excel
Introduction
Understanding Cell Referencing
Relative Cell Referencing
Absolute Cell Referencing
Mixed Cell Referencing
Basic Concepts Used in a Function
Getting Information about a Function
Syntax of a Function
(Entering a Formula in a Cell
Applying a Formula by Using the Copy and Paste Method
Applying a Formula by Using the Auto Fill Feature
Editing a Formula
Copying Value Instead of a Formula
Working with the Commonly Used Functions
PRODUCT Function
SUM Function
AVERAGE Function
Creating Your Own Function
Printing a Worksheet
Printing a Worksheet on a Single Page
(Printing a Large Worksheet
Summary
About the CD

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2025-02-12