Fundamentals of Accounting and Reporting

Go to Course: https://www.coursera.org/learn/accounting-and-reporting-fundamentals

Introduction

### Course Review: Fundamentals of Accounting and Reporting on Coursera If you're looking to kickstart your career in bookkeeping or enhance your accounting skills, the "Fundamentals of Accounting and Reporting" course available on Coursera is an excellent choice. This comprehensive course is tailored for beginners and covers essential accounting concepts while providing practical skills using TallyPrime, a prevalent accounting software. #### Course Overview The course immerses learners in the foundational principles of accounting and reporting. It focuses on basic concepts and computerized accounting methods, making it adept for those who wish to efficiently navigate the financial landscape of businesses. By the end of the course, you'll not only understand traditional accounting practices but also how to apply them in real-world scenarios using TallyPrime. **Key Highlights of the Course:** - **Real Business Scenarios:** This course is enriched with real-world illustrations and practice scenarios, ensuring you can relate learned concepts to everyday business tasks. - **Hands-On Experience with TallyPrime:** You'll master TallyPrime from the ground up, tracing its features and application in various accounting functions. - **Focus on Data Security:** In an age where data security is paramount, the course arms you with skills to secure company data effectively. #### Detailed Syllabus Breakdown 1. **Fundamentals of Accounting** - Learn to define accounting concepts, understand the accounting cycle, and analyze key financial statements such as the Balance Sheet and Profit and Loss Account. This foundational module is crucial for anyone wishing to grasp accounting basics. 2. **Introduction to TallyPrime** - This section teaches you how to install and operate TallyPrime effectively, guiding you through features designed for seamless accounting management. 3. **Maintaining Chart of Accounts** - Understand how to create and manage your company's chart of accounts, which is vital for structured financial accounting. 4. **Recording and Maintaining Accounting Transactions** - Gain practical skills by recording daily transactions and generating essential financial reports using Tally. 5. **Banking** - Become proficient in various banking functions, including payment processing and bank reconciliation, to maintain clear and accurate records. 6. **Generating Financial Statements and MIS Reports** - Learn to generate and interpret essential financial reports, enabling effective business decision-making based on precise accounting data. 7. **Data Security** - Develop an understanding of data security practices within Tally, enabling you to implement robust security protocols to protect sensitive information. 8. **Company Data Management** - Acquire skills to handle data backup, restoration, and migration, which are critical for maintaining the integrity of company data. #### Why You Should Consider This Course - **Accessibility and Flexibility:** Being available on Coursera makes this course accessible from anywhere in the world. You can learn at your own pace, making it easier to fit into your busy schedule. - **Career Advancement:** Knowledge of accounting and proficiency in TallyPrime are highly sought-after skills in the job market, providing you with a competitive edge. - **Engaging Learning Materials:** The course not only presents theoretical knowledge but is rich in practical illustrations, quizzes, and assignments that enhance the learning experience. - **Credible Certification:** Upon completion, you will receive a certificate that validates your new skills, making it a valuable addition to your resume. ### Conclusion The "Fundamentals of Accounting and Reporting" course on Coursera is an enriching experience for anyone serious about entering the accounting field or improving their financial management skills. By combining theoretical knowledge with practical tools like TallyPrime, this course stands out as a highly recommended pathway to understanding the core of accounting and bookkeeping. Don’t miss your chance to enhance your career prospects—enroll today!

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.

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

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

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

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.

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

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

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.