Accounting

• • Accounting Definition
  • Purpose of Accounting
  • Accounting Process

Accounting Terminology

• Accounting Terms
• Liability
• Equity
• Capital
• Revenue
• Expenses/Costs
• Loss
• Proprietor/Owner
• Goods
• (Trade) Debtor
• (Trade) Creditor
• Transaction
• Events
• Entry
• Entity
• Trade Discount and Cash Discount

Accounting Records

• Source Documents
• Journal
• Ledger
• Goods

Classification of Incomes

• Operating
• Non-operating

Classification of Assets

• On the basis of Tangibility
  • Tangible Assets
  • Intangible Assets
  • Fictitious Assets
• On the basis of Reliability
  • Realizable Assets
  • Non-realizable assets
• For Balance Sheet Purpose
  • Fixed Assets
  • Current Assets
  • Non-Current Assets

Classification of Liabilities On the basis of source

• Owners’ Fund (Equity)
• Liabilities
• Non-Current Liabilities
• Current Liabilities

Systems of Accounting

• Double Entry System
• Single Entry System

Basis of Accounting

• Cash Basis of Accounting
• Accrual Basis
• Hybrid Basis

Journal: Rules of Journalizing / Rules of DEBIT and Credit

• Personal Accounts
• Real Accounts
• Nominal Accounts

The Rules of Debit and Credit

• Rules based on the accounting equation
• Specimen or ruling of the Journal
• Journal Entries
  • Simple Journal Entry
  • Compound Journal Entry
• Method of depreciation with example 
• Method of closing stock valuation 
• Method and methodology of bank reconciliation statement

Practical (Project)

• Journal Entry
• Day Book Entry
• Ledger Posting
• Ledger Totaling
• Trail Balance
• Statement of Profit or Loss (Statement of Financial Performance)
• Balance Sheet (Statement of Financial Position)
• Closing Stock Valuation
• Tax, TDS & VAT

• e-VAT (VAT return)
• Income tax return
• Method of income tax provisions
• Annualized method of estimated tax provisions
• Prepare all necessary documents for auditing

Company Info

• Create/Modify/Delete Company
• Change password

Account Info

• Create/Modify/Delete Account Group
• Create/Modify/Delete Account Ledger
• Inventory Info
• Create Simple/Compound Unit of Measure
• Create/Modify/Delete Stock Group
• Create/Modify/Delete Sock Item

Voucher Entry (Trade Business)

• Purchase/Sales
• Receipt/Payment
• Contra
• Journal

Return Voucher

• Purchase/Sales Return
• Other Return

Order Processing

• Purchase Order/Receipt Note
• Sales Order/Delivery Note

POS Invoice

Voucher Entry (Manufacturing)

• Purchase Raw Material
• Finished Goods Products (BOM)
• Sales
• Multi Price Level (Wholesaler/Retailer)
• Go down Transfer

Voucher Entry (Medical Store)

• Purchase/Sales
• Go down (Various Locations)

Voucher Entry (Other)

• Multi-Currency
• Cost Centers
• Interest Calculation
• Actual and Billed quantity
• Separate Discount column in sales/purchase invoice

Modify/Delete/Insert/Copy Voucher

Other

• Backup/Restore
• Security Control
• User Maintain
• Year Ending

Reports

• Day Book
• Trial Balance
• Balance Sheet
• Ratio Analysis
• Cash Flow
• Funds Flow
• Ledger
• Purchase/Sales Register
• Bank Reconciliation
• Other Report

Nepal Government TDS, Income Tax & VAT System

TDS (Tax Deduction at Source) Income Tax & VAT

• Exemption & Concession: Tax exempt income, Corporate tax rate
• Income from Employment: Inclusions, Deduction, Taxability
• Income from Business: Inclusions, Deduction, Reduction, Calculation of tax liability
• Income from Investment: Inclusions, Deduction, Reduction, Calculation of tax liability
• Tax returns & Tax payments: Due date of return filing, Calculation of tax liability and its deposit
• Fines, Penalties & Interest: Calculation of penalties against delay in submission of returns, Delay on tax deposit
• Miscellaneous: Quantification, Transfer pricing, Income splitting
• Introduction of VAT: General concept of VAT, Definition, Taxable transactions
• Tax Offset: Input tax credit, Tax liability and its deposit
• Fines & Penalties: Calculation of fines for delay in submission of returns, Non-compliance of provisions
• GAAP: Generally accepted accounting principal
• NFRS: Concept of NFRS
• IRD: Live VAT and TDS return on IRD website

• Customizing the Excel Working Environment
• Essential Worksheet Operations
• Working with Data
• Formulas and Functions