Benefits of BAT Course: Jobs and Responsibilities

The world of the Accounting industry is competitive, and to stay ahead, you need more than the theoretical knowledge from a conventional degree. A Business Accounting and Taxation course is a practical course that intends to expose you to problem-solving and challenges in accounting and taxation through experiential learning.

A BAT course makes candidates job-ready qualified with the understanding to perform real-time job work. Overall, this high demand with several job openings makes the Business and Accounting course a sought-after opportunity for skill development. This article discusses some of the most remarkable benefits of the BAT course.

What is a BAT course?

Before discussing the benefits of BAT course, it is imperative to explain what a BAT course is. BAT course is the short form for Business Accounting and Taxation course, a certified educational course program for those who want to outdo peers in these domains.   A few educational institutes in India provide this course program through classroom and online formats. 

Business Accounting and Taxation course involve experiential and practical learning to assist students to evolve into job-ready accounting experts.   Usually, industry experts who can boast years of experience in taxation and accounting design the modules in the course program.  

 The BAT course chiefly teaches one about the structure of financial accounting and the financial picture of a company.   It also examines the tax system, which calls for a business, organization, or person to pay a portion of their revenue or income to the nation as a cost for developmental projects.

Before we discuss the coursework of the course program and its benefits,  we have to elaborate on two of the most significant parts of the course:

Business Accounting: 

Business Accounting is the method of auditing all the economic transactions in a business.   All financial records related to the enterprise are systematically evaluated, recorded, and analyzed in business accounting.   Accountants study economic events like assets and transactions through the bookkeeping process. 

The number of individuals performing the accounting depends on the scope of the business.    One person is sufficient to do the job in a small enterprise, whereas big organizations may need diverse teams.    An accounting report helps an entrepreneur make informed judgments based on the financial health of the business.

Taxation:

Governments globally follow the procedure of taxation.   Taxation includes imposing charges on an individual, a group of people, or businesses to generate income for developmental schemes in the country.   The word “taxation” is a verb indicating the act of collection of a fee, and the resultant revenue is dubbed tax.

Payment of taxes to the assigned officials or the government is the base of all societies.  This payment of taxes is involuntary and is not related directly to any specific service provided in return.   People spend tax on physical assets like property, transactions, and the selling of stock or homes.   Capital gains, income, property, sales, corporate, and inheritance are various types of taxes.

Scope of Business Accounting and Taxation course:

While discussing the benefits of a BAT course, it is imperative to mention the opportunities awaiting you after finishing the course program. The following are some of the advantages of pursuing a course in BAT:

• A Business Accounting and Taxation course program is one of the best short-term certification programs one can do after a degree in Commerce or any other related field. 
• BAT course equips students with the understanding of Accounting technical methods like System Application Product (SAP) which again aims to train them to measure up with certified MBAs and CAs.
• The increasing demand for accountants in India led to the beginning of the BAT course program. Hence the program trains commerce graduates and prepares them to venture into the fields of Accounting and Taxation. 
• The employers of Business Accounting and Taxation course graduates are Multi-National Companies and honored organizations in India.
• The course program unlocks many paths for the students as it examines more than accounting and contains financial reporting and auditing. 
• Business, accounting, and taxation courses include some important elements like QuickBooks, MIS Reporting, ERP software, auditing, SAP, payrolls, and GST. 
• The earnings of a Business Accounting and Taxation course graduate in India range anywhere between two lakhs and eight lakhs

Jobs and responsibilities of a Business Accounting and Taxation specialist

The jobs and responsibilities of a Business Accounting and Taxation specialist are to be discussed in conjunction with the learning advantages of a BAT course.The following are the main functions and jobs of a Business Accounting and Taxation specialist:

• Keeping Books of Accounts

Keeping a systematic document for every dealing with Finance, Inventory, Payables, Receivables, etc is the primary role in Accounting.

Keeping an account book allows management to decide the profits or losses, the financial position of the company, the managerial approach, and strategies for the future.

• Internal Audit

An internal audit involves an autonomous service to evaluate an organization’s internal management, methods, practices, and corporate processes. An internal audit assists in attaining adherence to the various laws applicable to an organization. It is done regularly to save the company from any misappropriation of funds, error in books of accounts, fraud, etc.

• Taxation

Filing taxes is an important role in the domain of accounting. A candidate is obliged to settle taxes without delay, file tax returns, file the tax payment records, and more for an organization. They also counsel people and organizations on reducing the tax burden by making the right investments.

• Cost Accounting

Cost Accounting includes examining the costing system of a business by studying and summarising the cost data of the business. Cost Accounting is performed to constrain the costs and give funds appropriately to the various activities and functions in the company.

• Management Accounting

Management Accounting includes counseling the management of the organization and assessing the finances of the company, thus assisting in the decision-making process, planning, managing of authority, etc.

The following are some of the jobs that a student who trains in Business Accounting and Taxation can choose:

• Accounting Assistant
• Accounting Supervisor
• Accounting Manager
• Senior Accountant
• Junior Accountant
• Auditing Assistant
• Accounting Administrator
• Tax Assistant
• Tax Manager

Benefits of BAT course:

The business world is changing in an unprecedented manner compared to previous centuries. With the dawn of the concept of the world as a global village founded on technology, the business market changed. But some things remain irrespective of the changes. These are keeping financial records, sales records, tax payments, and account management. 

Over the years, Accounting has become a much-favored area of expertise. All enterprises and organizations, regardless of size, require skillful experts in finance, accounting, and taxation. A conventional degree in Accounting or related fields sets the base for a career in Accounting. However, it does not cover much of the skill development. 

The Business Accounting Taxation course program addresses the wide gap between the requirement and availability of skilled professionals in Accounting. Today Accountants should be proficient with the most advanced accounting tools and industry developments. A BAT course is systematically structured to train candidates on industry-relevant skills, tools, and software. The following are the top benefits of BAT course:

• Develop a detailed understanding of advanced accountancy standards

An accounting standard is a group of practices and policies employed to systematize accounting functions, including bookkeeping across businesses and over time. These standards apply to the full breadth of an organization’s financial picture, including assets, revenue, liabilities, expenses, and shareholders’ equity. The foremost of the benefits of BAT course is that it helps gain a clear understanding of these state-of-art accounting standards to enable them to apply them efficiently to the enterprises they serve in the future. 

• Develop a working knowledge of accounting using advanced tools:

You can use accounting tools to perform various accounting processes like invoicing, reporting, statements, and budgeting. Additionally, an accounting tool will automatically record much of the data you otherwise manually check. The working knowledge of the latest tools in accounting can save you time at work and is one of the best benefits of BAT course. Some of the tools you will practice as a part of the Master BAT course at IIM Skills are: 

1. Quickbooks:

The Quickbooks software turn out to be beneficial when you need to create an archive of financial statements, confidential information, or any other data. Thus Quickbooks is one of the most reliable tools in Accounting. 

2. Advanced Excel:  

Excel comes in handy while creating MIS reports by generating, extracting, and tracking business data and requirements throught its interactive dashboard. It permits you to manage, track, and utilize data to get actionable awareness. Further, you can employ this awareness to make appreciable decisions for your business with current trends in the market. 

3. Tally: 

Another leading tool in the toolkit of accounting experts is Tally ERP software, the excellent GST and business management solution software. With a perfect mix of control, function, and built-in customizability, Tally emerges as the most popular accounting software in India.

4. BUSY: 

The BUSY software assists you in critical business procedures such as Customer Management, GST Billing, Advanced Inventory Management, Return Filing, financial accounting, Payroll, and more. All these make BUSY software an effective software for business accounting and management.

• Acquire complete knowledge of the GST tax system and related nuances

GST or Goods and Services Tax is an indirect tax introduced to supersede many other Indirect taxes such as service tax, value-added tax, excise duty, purchase tax, etc. In India, it is mandatory to pay GST on the supply of specific goods and services, and it is applicable over India.

GST aims to reduce sales and corruption without receipts. GST lessens the need for small enterprises to comply with service tax, excise, and VAT. GST brings regulation and responsibility to unorganized sectors. An accountant with experience in completing GST payments will know that he should ensure that the tax amount is accurate and be mindful of various other factors.

• Help in being fully aware of  Payroll and its policies:

A payroll policy explains the payroll process while covering the administration of the salaries, payroll schedules, timekeeping, and payment methods of the workers of an organization. This policy is described to inform employees what they should expect on payday. No payroll procedure is complete without completing its accounting activity, as compensation constitutes a considerable portion of an organization’s expense.

• Learn about financial auditing & reporting:

A financial statement audit involves an independent auditor assessing an organization’s financial statements and accompanying disclosures. After the examination, the auditor issues a report attesting to the fairness in the representation in the financial statements and accompanying disclosures.

It is the responsibility of the Accountants to prepare financial statements, 

observe day-to-day bookkeeping for a firm’s operations, and prepare and file tax forms.

• Demonstrate significant understanding of Income Tax:

Another significant role of the accountant is to think out the tax liabilities of an entity.  Accountants should be capable of managing the tax matters of an entity, filing returns, making representations before tax authorities, and settling the tax liabilities of an organization under various laws. One of the benefits of BAT course is that it prepares an Accountant with a clear understanding of the taxation system.

• Improve your skills in bookkeeping and accounting:

Bookkeeping is the base of accounting. Accounting employs the data provided by bookkeeping to draft financial statements and reports. Many accountants start their careers as bookkeepers as the level of knowledge in demand is less than compared to accounting. 

A BAT course helps you sharpen your accounting skills to accurately and ethically control financial transactions, interpret financial data and develop financial reports. One of the benefits of BAT course is that it inculcates in you the knowledge of generally accepted accounting principles, mathematics, and data analysis.

• Expose yourself to the real-world accounting industry and its functionality:

A conventional degree in Accounting is not sufficient to achieve complete first-hand accounting experience in businesses. One of the many benefits of BAT course is the experiential learning involved with myriad case studies, practical assignments, and projects.

• To learn the countless aspects of business management:

Companies run on money, and if you don’t manage that money, you don’t manage your business. By correctly accounting for your business’s revenue and expenses, you can control the flow of cash and thereby direct the development of your business. 

One of the benefits of BAT course is that it polishes your skills in Managerial accounting. Managerial accounting helps arrive at decisions using an organization’s financial data. A knowledge of managerial accounting helps calculate the cost of a product, examine when your business breaks even, and budget for expenditures and future growth.

Benefits of BAT course: An analysis of the Business Accounting and Taxation course by IIM Skills:

IIM Skills is an international leader in skill development teaching that delivers training programs and comprehensive classes in some of the most significant domains. Their career-oriented course programs are for four to twelve weeks and are suitable for job seekers, students,  professionals,  homemakers, and freelancers. 

The institute offers placement assistance and helps to make the best resumes. The professional studies at IIM Skills contain the most basic to the advanced concepts through a combination of theory and practicals. The learning format delivers fundamental learning and understanding to the candidates. 

The courses started at IIM SKILLS are career-oriented and industry-relevant. The curriculum of individual course programs results from thorough research and ensures that students have excellent upskilling and internship experience. The following are the course details of the Business Accounting and Taxation course program by IIM Skills:

Course Name: Master BAT course

Duration: Three months

Fee: ₹ 49,900 +18% GST

Modules:

1. Basics of Accounting and Accounting in Tally
2. Basics of GST and GST in Tally
3. Basics of TDS and TDS in Tally
4. Payroll and Payroll with Tally
5. Income Tax with Tally
6. Advance Excel and MIS Reporting

Benefits of BAT course by IIM SKills:

• Pre-recorded online sessions to acquire an in-depth understanding of cutting-edge accountancy standards
• Interactive lectures bring out the best in the learners and strengthen their learning to become skilled experts. It also develops the habit of evolving as a team player.
• Well-researched teaching strategies by industry experts
• Industry experts-led classes to gain helpful information in accounting concepts, payroll policies, taxation, and specializations of economics
• Quick doubt explanations through interactive discussion forums
• Practical assignments to develop a working knowledge of accounting 
• Weekly assessments based on industry standards
• Opportunities to launch yourself as a freelancer
• Dedicated placement cell to ensure enough interview opportunities for the students
• Free E-Books and resources
• Invoicing Tools and Software to inculcate practical knowledge
• Globally accredited Master certification from IIM Skills
• Flexible learning allows students to learn at their convenience
• Backup classes 
• Lifetime access to revised LMS

Who should enrol for the Business Accounting and Taxation course by IIM Skills:

• New graduates and students of Accounting, Banking, Commerce, Finance,  Law, CS, and more who are interested in a career in taxation
• Experts in the Finance and Accounting domains
• Business people
• Start-up agencies or consultancies

To know more about the course, you may contact IIM Skills at:

Phone no: + (91) 99 11 839503

Email Id: [email protected]

The following are the other certification programs by IIM Skills:

• Content Writing Course
• Technical Writing Course
• Digital Marketing Course
• SEO Course
• GST Certification Course

Frequently Asked Questions:

1. Is it worth doing the BAT course?

The reply is yes. There are tremendous job opportunities available in these areas. After having a degree in this domain, you can choose a job in the private and government sectors. Professionally you can also select teaching jobs in universities and colleges.

2. Can I start doing a job after the BAT course?

After finishing an intensive Business Accounting and Taxation course, you can select from an array of great job profiles, like tax consultant, corporate legal assistant, accounts executive, company law assistant, finance manager, and tax analyst, to mention a few. The average earnings for Business Accounting and Taxation skills usually range between Rs. 4 Lakhs Per Annum.

3. What is the salary after the BAT course?

MIS reports ERP systems, SAP, audits, accounting software, Service tax, understanding regarding payroll,  and so on are several crucial aspects of a business, accounting, and taxes course. In India, the income for a business accounting and taxation program graduate ranges from two lakhs to Eight lakhs INR.

4. Which course is best after BCom?

Today, many industries look for experts who will add worth to their organization, people who have a passionate approach and a technical skillset. A degree in BCom may not support you stand apart in a crowd. But, by pursuing some short-term certification programs, you can make an impression on your prospective employer. Here are some courses you can pursue after B.Com:

• Financial Modelling
• Company Secretary (CS)
• Master of Business Administration (MBA)
• Digital Marketing
• Certified Financial Planner
• Cost Accountancy (ICWA)
• Financial Risk Management (FRM)
• Graphic Designing
• Web Designing
• Certified Financial Management
• Business Analytics
• Supply Chain Management Courses
• Certified Management Accountant (CMA Course)
• Business Accounting & Taxation (BAT)
• Chartered Accountant (CA)
• Certified Financial Analyst
• International Financial Reporting Standards (IFRS)
• Stock Market Courses
• Masters in Management (MIM)
• Investment Banker

5. What is a CMA course?

CMA is a professional course program provided by the Institute of Cost Accountants of India, set up to encourage and regulate Cost and Management Accountancy jobs in India. There are three levels in CMA:

• Foundation
• Intermediate
• Final.

Benefits of BAT course: Conclusion

Business Accounting and Taxation have forever been sought skills in the Accounting domain. With time businesses and individuals have comprehended the significance of tax filing and bookkeeping. The process and method in business accounting and taxation have varied over the years, making it a more complicated and detailed process. 

Companies need Business Accounting and Taxation experts for handling various accounts and tax filing in the firm related to clients, employees, vendors, inventory, etc. Not just with businesses, but there is a need for Business Accounting and Taxation experts among individuals. With time and awareness, many people today understand the significance of filing taxes. Filing taxes can be a tiresome process, and therefore many individuals need Business Accounting and Taxation professionals for the procedure. 

With a diverse curriculum, a BAT course is an all-inclusive certification program conducted through classroom and online classes and offers students a detailed understanding of Accountancy. This article aims at enlightening you about the several benefits of the BAT course. We hope it helped you gain a clear understanding of this growing field of accounting. Let us know through your comments. Happy learning.