Foundation of Financial Accounting (with Tally Prime and Excel)

In this course, you will learn to:

• Understand the foundational principles of financial accounting and the structure of financial records.
• Develop hands-on skills to record, classify, and summarize business transactions both manually and digitally.
• Gain proficiency in using Tally Prime for business operations such as accounting, inventory, banking, billing, GST, cost centers, and report generation.
• Learn the fundamentals of Microsoft Excel for data entry, formatting, calculation, analysis, and visualization.
• Integrate accounting knowledge with practical tools like Tally and Excel to manage real-world financial workflows, reports, and decision-making processes.
• Apply case-based learning to understand complete business cycles, including purchase and sales orders, manufacturing, banking, and multi-currency transactions.

At the end of this course, learners will be able to:

• Apply accounting principles to accurately maintain books of accounts, prepare ledgers, and generate trial balances and financial statements.
• Perform day-to-day business accounting using Tally Prime, including entries for payments, receipts, purchases, sales, and journal vouchers.
• Configure and manage inventory, vouchers, ledgers, cost centers, and GST setup within Tally Prime.
• Use Excel for efficient data entry, formatting, validation, and transformation using features like Flash Fill, conditional formatting, and custom number/date formats.
• Utilize Excel functions such as SUMIF, VLOOKUP, TEXTSPLIT, HSTACK, IFS, and pivot tables to analyze and summarize financial data.
• Handle banking transactions, reconciliation, and reporting including cheque printing and post-dated entries.
• Manage bill-wise settlements, generate outstanding reports, and analyze debtor-creditor positions effectively.
• Process complex accounting operations like depreciation, prepaid expenses, interest calculations, purchase/sales returns, and multi-currency transactions.
• Implement and analyze full order cycles (PO/SO), manufacturing setups, BOMs, batch-wise inventory tracking, and case-based inventory reporting.
• Generate insightful dashboards and reports in Excel and Tally for decision-making, audit readiness, and compliance.

The Academic Approach of the course focuses on the “work centric” education i.e. begin with work (and not from a book !), derive knowledge from work and apply that knowledge to make the work more wholesome, useful and delightful. The ultimate objective is to empower the Learner to engage in socially useful and productive work. It aims at leading the learner to his/her rewarding career as well as development of the society.

Learning methodology

• Learners are given an overview of the course and its connection to life and work.
• Learners are then exposed to the specific tool(s) used in the course through the various real-life applications of the tool(s).
• Learners are then acquainted with the careers and the hierarchy of roles they can perform at workplaces after attaining increasing levels of mastery over the tool(s).
• Learners are then acquainted with the architecture of the tool or Tool Map so as to appreciate various parts of the tool, their functions and their inter-relations.
• Learners are then exposed to simple application development methodology by using the tool at the beginner’s level
• Learners then perform the differential skills related to the use of the tool to improve the given ready-made outputs.
• Learners are then engaged in appreciation of real-life case studies developed by the experts.
• Learners are then encouraged to proceed from appreciation to imitation of the experts.
• After imitation experience, they are required to improve the expert’s outputs so that they proceed from mere imitation to emulation.
• Finally, they develop the integral skills involving optimal methods and best practices to produce useful outputs right from scratch, publish them in their ePortfolio and thereby proceed from emulation to self-expression.

Evaluation Pattern of KLiC Courses consists of 4 Sections as per below table:

MKCL’s KLiC Certificate will be provided to the learner who will satisfy the below criteria:

1. Learners who have successfully completed above mentioned 3 Sections i.e. Section 1, Section 2 and Section 3
2. Additionally, learner should have completed Section 4 (i.e. Section 4 will comprise of SUPWs i.e. Socially Useful and Productive Work in form of Assignments)
   • Learner has to complete and upload minimum 2 out of 5 Assignments