Industrial Accounting & Fintech

Description

Course Overview

• Course Name: Industrial Accounting & Fintech

• Awarding Body: Lernow Skills Council (LSC)

• Duration: 12 Months (1 Year)

• Structure: 2 Semesters | 6 Subjects Total

Semester 1: Financial Foundation & Digitization

Focus: Mastering the basics of bookkeeping, business laws, and essential office computing.

Subject 1: Business Accounting & Bookkeeping

• Fundamentals: Double-entry system, Journalizing, Ledger posting, and Trial Balance.

• Financial Statements: Preparation of Profit & Loss Accounts and Balance Sheets.

• Asset Management: Depreciation methods, Stock valuation (FIFO/LIFO), and Bank Reconciliation Statements (BRS).

• Industrial Projects: Manual accounting for a manufacturing unit.

Subject 2: Business Computer Applications & Excel

• MS Office Suite: Advanced Word for business drafting and PowerPoint for financial presentations.

• Advanced Excel: Formulas (VLOOKUP, HLOOKUP, Pivot Tables), Data Validation, and Financial Dashboards.

• Digital Tools: Google Workspace, Cloud storage, and E-mail etiquette for accountants.

Subject 3: Business Laws & Communication

• Regulations: Introduction to the Companies Act, Contract Act, and Partnership laws.

• Soft Skills: Professional communication, interview preparation, and resume building.

• Ethics: Industrial work ethics and corporate governance.

Semester 2: Advanced Taxation & Industrial Automation

Focus: Practical application of taxes, payroll, and high-end accounting software used in factories and firms.

Subject 4: Goods & Services Tax (GST) & Indirect Tax

• Concepts: GST Registration, HSN/SAC codes, and Input Tax Credit (ITC).

• Practical Filing: E-filing GSTR-1, GSTR-3B, and GSTR-9 (Annual Returns).

• Documentation: E-way bills, E-invoicing, and RCM (Reverse Charge Mechanism).

Subject 5: Direct Tax, TDS & Payroll Management

• Income Tax: Heads of Income, Deductions under Chapter VI-A, and ITR filing.

• TDS/TCS: Calculation, deposit, and return filing (Form 24Q, 26Q).

• Payroll: EPF, ESI calculations, and Generating Salary Slips using industrial standards.

Subject 6: Computerized Accounting (TallyPrime & SAP FICO)

• TallyPrime: Inventory management, Bill of Materials (BOM), and Cost Center management.

• SAP Overview: Introduction to ERP, General Ledger accounting, and Accounts Payable/Receivable in SAP.

• Finalization: Online finalization of accounts and audit trail preparation.

Evaluation & Certification

Certification: Upon successful completion of both semesters, students will be awarded the Certified Industrial Accountant (CIA) diploma by the Lernow Skills Council.