Statement of final accounts or financial accounting is the process of preparing financial statements that companies use to show their financial performance and position to people outside the company, including investors, creditors, suppliers, and customers.
Tally is an ERP accounting software package used for recording day to day business data of a company. The latest version of Tally is Tally ERP 9.Tally.ERP 9 is one best accounting software that can integrated with other business applications such as Sales, finance, Purchasing, Payroll, Inventory, etc.
Tally software stores all the business transactions of each account in detail. Tally ERP 9 follows double entry accounting system and hence eliminates and rectifies possible errors.
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Tally Accounting is software used for financial accounting purposes. It is provided by Tally Solutions and is a standard business accounting software. TallyPrime is a very robust ERP product and is a complete business management solution.
All the accounting activities, such as financial records of a business, the generation of statements concerning the liabilities and assets of a business, all are easily managed with the Tally solution.
The name of the business solution, Tally, is inspired by the meaning of the word "tally", which is to count, to keep the record.
Accounting is the activity or the system of keeping records of transactions of a business or any other organizations in monetary terms. It records the money or value for money received by or given to different persons or entities from time to time. It enables an organization to ascertain facts such as money owed to or by different entities, the assets and liabilities of the organization in different forms and the profit or loss made by it during specified periods.
Tally is a trading name of accounting software maintaining accounts, and for performing additional accounting and other analytical operations helpful in the management of an organization.
Topics covered will be:
creation and management of professional documents using MS-Word, analysis and presentation of data using MS-Excel, basic principles of accounting, double entry system of accounts, basic features and key components of Tally, processing and recording transactions and managing account information etc.
Financial Controller, Chartered Accountant, CGA (Certified General
Accountant), Financial Analyst, Staff Accountant, ERP SAP/Oracle Functional
Consultant, Tally package (India) and Quick Books (USA).
There are primarily two types of financial accounting: cash and accrual accounting. Both methods use double-entry accounting to accurately record financial transactions.
The main purpose or use of preparing financial statements of a business organisation is to understand its financial position. For any business to have constant growth, a careful and periodic check on its cash inflow and outflow is crucial. Thus, with financial accounting, a business owner can keep a tab on how much his revenue is against his expenses, to ensure positive working capital.
Financial statements can be used by several stakeholders who are involved in critical decision-making. From business owners, managers, and employees to external users like; suppliers, banks, customers, investors, potential investors, and tax authorities, use financial statements to arrive at major business decisions.
Undergraduates and graduates looking to enter the accounting domain and understand basics of Tally.
At the end of this program, the learner will be able to:
Expert Faculty: Recognized practitioner experienced in related field interacting with students. Apart from guiding students on concepts and its implementation, he will pose challenges to learners to think through all the topics leading to better learning and increased retention.
Study Material: Students will be provided with study materials developed by NIIT and Tally. Also students can refer to Tally reference materials to obtain answers to queries generated during the learning process.
Hands-on Learning: Apart from classroom hours, learners will be provided with dedicated machine room hours to practice their learnings on MS-Office and Tally softwares.
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