Description
Course Overview
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Course Name: Industrial Accounting & Fintech
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Awarding Body: Lernow Skills Council (LSC)
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Duration: 12 Months (1 Year)
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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
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Fundamentals: Double-entry system, Journalizing, Ledger posting, and Trial Balance.
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Financial Statements: Preparation of Profit & Loss Accounts and Balance Sheets.
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Asset Management: Depreciation methods, Stock valuation (FIFO/LIFO), and Bank Reconciliation Statements (BRS).
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Industrial Projects: Manual accounting for a manufacturing unit.
Subject 2: Business Computer Applications & Excel
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MS Office Suite: Advanced Word for business drafting and PowerPoint for financial presentations.
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Advanced Excel: Formulas (VLOOKUP, HLOOKUP, Pivot Tables), Data Validation, and Financial Dashboards.
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Digital Tools: Google Workspace, Cloud storage, and E-mail etiquette for accountants.
Subject 3: Business Laws & Communication
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Regulations: Introduction to the Companies Act, Contract Act, and Partnership laws.
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Soft Skills: Professional communication, interview preparation, and resume building.
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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
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Concepts: GST Registration, HSN/SAC codes, and Input Tax Credit (ITC).
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Practical Filing: E-filing GSTR-1, GSTR-3B, and GSTR-9 (Annual Returns).
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Documentation: E-way bills, E-invoicing, and RCM (Reverse Charge Mechanism).
Subject 5: Direct Tax, TDS & Payroll Management
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Income Tax: Heads of Income, Deductions under Chapter VI-A, and ITR filing.
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TDS/TCS: Calculation, deposit, and return filing (Form 24Q, 26Q).
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Payroll: EPF, ESI calculations, and Generating Salary Slips using industrial standards.
Subject 6: Computerized Accounting (TallyPrime & SAP FICO)
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TallyPrime: Inventory management, Bill of Materials (BOM), and Cost Center management.
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SAP Overview: Introduction to ERP, General Ledger accounting, and Accounts Payable/Receivable in SAP.
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Finalization: Online finalization of accounts and audit trail preparation.
Evaluation & Certification
| Assessment Type | Weightage |
| Semester End Theory Exam | 40% |
| Practical Lab Assessment | 40% |
| Industrial Project / Internship | 20% |
Certification: Upon successful completion of both semesters, students will be awarded the Certified Industrial Accountant (CIA) diploma by the Lernow Skills Council.
