How To Do Business Accounting And Taxation Course

With the advent of the Internet and other technologies, businesses are growing bigger and bigger. But a few years ago, during the absence of the Internet and technology, nobody asked how to do business accounting and taxation course. The simple reason is that the businesses at that time were so small that a single person could easily handle every financial aspect of his business. But now, the situations have changed, and companies are spread across the world. So, they need people who can handle all the financial aspects.

Today, you will understand the meaning of business accounting, the role of a business accountant in a company, tax, what are its types, what are their roles and responsibilities, etc. All your doubts and questions about this fantastic field will be cleared by the end of this article. This field is all about numbers; if you love playing with numbers, you can achieve great heights.

All mathematical concepts will be under test, so you need to clear all basics. And we know how often people make mistakes while doing mathematical calculations, but here everybody in the company will depend on you for all their financial estimates, so you must be very attentive and should be able to apply all the maths you have learned smartly.

So, in this article today, we will be discussing the meaning of business accounting, what taxes are, how to do business accounting and taxation course, and many other things.

What Is Business Accounting?

Many of you might already know what this business accounting is all about. Many of you might even be practicing it daily. If we have to put it simply, it is the procedure of keeping track of all the financial activities performed by a business. Now, you might wonder about the need to study business accounting; it’s just about keeping track of finances. Right!

But it’s not that easy; it incorporates many other aspects. Businesses are enormous these days, they are not just limited to a particular area, and thousands of employees work in a company. And without a business accountant, it’s nearly impossible for a business to achieve great heights.

Roles and Responsibilities of Business Accountant

• Developing all the necessary financial reports.
• Provide the solution in case of financial problems.
• Guiding the company in making financial investments or decisions.
• Make sure all the taxes are paid regularly
• Maintaining accuracy in the analysis.

Read here the Role of Tally Software in Business Accounting

What is Taxation?

Taxation is when a business or some other form of organization or an entity pays an amount to the government. And the tax collected in the form of money is used by the government to provide facilities, make necessary improvements, buy military pieces of equipment, etc. In short, the tax collected is supposed to be used for the country’s welfare. And do you know?

Businesses pay the highest amount of tax to the government. So, companies also need someone who can keep a record of the taxes that they produce. If a business does not pay the government’s tax in time, it may suffer heavy losses. So, the accountant plays an essential role in all these transactions, whether regular business transactions or paying taxes to the government, and he handles everything.

Types of Taxes

1. Direct tax

When the taxpayer pays the tax to the governing body directly, we say it’s a direct tax. Examples of this type of tax include estate tax, property tax, income tax, etc.

1. Indirect tax

Indirect tax is when we pay a tax amount to the government when we buy products or services from the market. Examples of indirect taxes are sales and value-added taxes.

Scope Of Business Accounting And Taxation In Future

Now that you know what is business accounting and taxation, let’s understand the scope or the future of business accounting and taxation. Well, this is a very good career option, it is highly lucrative, and businesses need smart accountants with good skills. So, if you are really passionate about it and possess good accounting skills then you can select this field as your career option.

Today, we can see that businesses are growing rapidly. You can look back in time and you can compare the number and varieties of businesses. When you will start comparing you will get surprised by seeing the growth of the businesses.

And another reason to pursue this career is there is less competition in this segment, when you compare it with other popular career options like engineering, MBA, etc. And not everybody is good at doing mathematical calculations. Those people who are good at maths are even called god gifted.

Also Read: BAT Interview Questions Answers

Career Opportunities in this Domain

There are a wide variety of roles and responsibilities into which one may get assigned depending on the skills and expertise that they possess. Following are some of the popular options that one can choose.

1. Accountant
2. Tax Policy Analyst
3. Revenue Agent
4. Financial Analyst
5. Marketing Manager
6. Employment Tax Specialist
7. Personal Finance Consultant

But how to get there. The businesses are not going to employ any random individual for such responsible roles. So, what’s the process? One must have formal education to get hired for these posts. There are professional courses that one needs to pursue. But how to do business accounting and taxation course? We have listed some of the best professional institutes which provide all the necessary facilities that will make you job-ready.

What are the Skills Required for an Accountant or Financial Manager?

Well, there are many skills that are required, especially in this sector. And these skills are generally rare and can’t be learned in a short period of time. It takes years to develop these skills. Don’t be scared by this statement, but it’s a fact. But it’s not impossible to gain these skills. Okay, now let’s see all the skills that are required to succeed in this sector.

• Logical thinking
• Analyzing data
• Familiarity with numbers
• Organizational skill
• Problem-solving skills
• Good communication
• Meticulous observation

These are some of the important skills that are generally preferred in a candidate who is to be employed for the accounting-related role. And among all these, if you ask which are the most important skill. Then the answer would be the observational skill because it is rare. And it’s important not just because it is rare, but also because it decides what level of perfection you will achieve in the future.

Best Business Accounting And Taxation Course

1.    IIM Skills

IIM Skills is one of the best institutes that provides a good business accounting and taxation course. Since its inception in 2015, the institute has developed tremendously and is trusted by all the students around the world. It is headquartered in New Delhi.

In this course, there will be 3 months of live classroom training which will account for more than 120 hours of lectures. And the best part of this institute is that they not only provide you the theoretical knowledge, but complete practical assignments will be there that will give the students hands-on experience.

They also provide internship opportunities to the students. And there is also a dedicated placement cell, that will help the students in landing a job. Apart from these above-mentioned features, there are some other attractive facilities provided by this institute.

Features of IIM Skills BAT Course:

• The students get lifetime support from this institute
• They provide an interview guarantee
• Practical training based on tools
• Guidance from skilled CA’s
• Lifetime access to the recordings and live classes
• 100% money-back guarantee

If you are wondering how to do business accounting and taxation course then this institute has got the solution for you.

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2.    Udemy

As you know udemy is one of the largest learning platforms in the world today. It offers a variety of professional courses to aspiring students. If you want to know how to do business accounting and taxation course then this is the best place to know it. The name of the course is complete accounting and taxation course. There are seven modules in this course. They are:

1. Free sample videos
2. Basics of accounting
3. Downloadable course material
4. The full course of tally prime
5. GST and GST portal concepts
6. Taxation
7. MS excel

The course fees are also very less. The lectures are industry experts the way of teaching is also very simple and effective. Anyone can take this course. Some of the features of the course are mentioned below:

• Tally authorized institute faculty
• GSTN recognized tax practitioner
• Everything in the tally is completed
• The licensed version of the tally covered in the class
• 100% results
• Assignments
• Quizzes
• Practice tests
• After completion student will be able to handle GST and all books of accounts

Recommended Read: Business Accounting and Taxation Courses in India

3. EduPristine

This is a highly recommended institute. They are in the industry since 2007. The name of the course is PGP-BAT. You can pursue this certification program even if you are a beginner and have no experience in the accounting industry. The time taken to finish the course will depend on individual capabilities.

The best part of this institute is that you can learn according to your ability. If you are a quick learner, you can complete it in 5 months. Okay, now let’s talk about the course. There is a total of 9 modules in this course as mentioned below.

1. Fundamentals/Basics Of Accounting
2. Fundamentals Of Gst
3. Basics Of Income Tax
4. The Concept Of Payroll And Its Components
5. Use Of Excel In Mis And Accounting
6. Finalization Of Financial Statements
7. Busy Practicals
8. Sap
9. Soft Skills

Apart from delivering these great modules, there are some other great features that this course offers.

• A dedicated computer lab
• The learning is based on case studies.
• Trainers are well-recognized industry experts
• 4 certifications on completion of the course
• Discussion forums to help students clear their doubts
• Special Workshop for interview preparation
• Assistance in resume preparation
• Placement assistance
  

4. City Commerce Academy

This institute offers three courses Business Accounting, Accounts Expert, and Tax Experts. And if you want to do all these courses then you have got that option too. The all-in-one course is called Accounts and Tax experts. The all-in-one course will cost you 10,800 ₹. You can find the complete information about this course on their official website or on their youtube channel.

It is one of the best courses at a very affordable price. The teaching that they deliver is highly appreciated by the students. Their unique way of teaching creates all the difference. The language used by the experts is so easy to understand. And the experts teach everything from the basics and they make sure that there is no room left for the confusion.

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5. Step Up Student

This course is one of the finest in its category. This course contains eight modules that are practical in nature. The seven modules are as mentioned below:

1. Direct Taxation
2. GST (Goods and service tax)
3. SAP
4. BUSY software
5. MIS reporting and Excel
6. Financial report by using tally
7. Finalizing financial statements
8. Payroll and its components

6. IITA

IITA is the short form for the Indian Institute of Taxation and Accounting. The duration of the course is just 40 days, and they claim to train the students and make them ready for a practical world in just 40 days. Another unique aspect of this institute is that the trainers who will train you are none other than CA’s and industrial experts. So, there is no compromise on quality. No doubt you will get to learn everything from them.

Some of the Best Features of This Institute Are:

• The classes are updated regularly
• Goods and service tax(GST) returns filing and practice software
• 100% practical training by CA’s
• Students can discuss with experts
• Actual business based transaction projects
• Provide training from basic to advance level

Course Content

1. Accounting theory
2. Computer Accounting
3. Introduction of Tally
4. Recording Journal entries in Tally software
5. Settings and Configuration
6. Ledger Account Creation
7. Company Creation
8. Alteration in Journal entry, company, and accounts
9. Various techniques of recording business transactions.

It is one of the best institutes if you really wonder how to do business accounting and taxation course. It is a well-known and highly trusted institute.

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7. Henry Harvin

Henry Harvin is a good institute and has gained trust from all over the world. They not only guide you on how to do business accounting and taxation course but also assist you to become a professional in the field. The best part of this institute lies in an incredibly simple way of teaching.

Some of the major benefits that you will get after completing the course are as follows:

• Learn Accounting and Taxation basics
• Understand and implement the GST and Indirect taxation
• Understand TDS and TCS
• Learn from professional experts
• Business income and income tax
• Clear the doubts even after the completion of the session
• Understand the management of litigation
• You will be able to develop financial strategies for your business
• Apply your learnings in the real world

The course will have live classroom training, which will be of 172 hours. Along with this they also provide you with an internship. During the course of the internship, you will learn all the things that are necessary in the practical world, you will get hands-on experience. Henry Harvin also guarantees 100% placement.

FAQ’s

1.    How much time is required to successfully complete the course in business accounting and taxation?

Well, it depends on the type of course that you are pursuing. There are many short courses available online today that will just let you know all the theoretical concepts related to the course. But if you truly want to learn and achieve something great by doing this course, then you must take a long course that will demand around 4-5 months of time.

2.    What is taught in the business accounting and taxation courses?

The aim of the majority of the courses is to make you familiar with all the tools and technologies that you will be using in the company. They will teach you how to work using particular accounting software. Obviously, there are many other things that can help you to get a job, but this is what is generally taught in the courses.

3.    How to do business accounting and taxation courses?

Well, you can do a business accounting and taxation course if you hold a degree in a relevant field.

4.    How much does a BAT course cost?

A good BAT course will easily cost you around 10,000₹ to 20,000₹.

Conclusion

This was all that is required by a student before enrolling in a BAT course. Now, you know how to do business accounting and taxation course. In fact, you will be able to explain how to do business accounting and taxation course to others as well. To summarize, accounting is a very important field, and the success of the company depends on business accountants. This role demands so much responsibility and attention to even very small details. Overall, it’s one of the best career opportunities. If you have the skills necessary for the role and are willing to take all the responsibility then you are all set.