Many business owners, particularly start-ups, small businesses, and sole proprietors, often lack basic accounting knowledge. This gap includes understanding how to maintain accounts, the tax laws relevant to their business, and ensuring compliance with various State and Central regulations. This lack of knowledge can lead to critical compliance issues being overlooked, resulting in notices from various government departments.

Moreover, these business owners typically operate on tight budgets and focus primarily on developing their sales and revenue channels. Consequently, they often do not hire qualified accountants or professional consultants to review their business accounts, assess performance, or identify any anomalies or shortcomings.

ACCO-COACH recognizes the need to educate and empower such small business owners / entrepreneurs with essential accounting and compliance knowledge. Understanding that many business owners do not come from a finance background, ACCO-COACH has launched ACCO-POWER, which offers tailor-made short courses designed to equip them with the necessary skills to:

• Understand the financial position of their business
• Implement checks to prevent infidelity and mismanagement of funds
• Ensure compliance with all required laws and regulations

These short courses, typically lasting for 30-45 days cover the following major aspects

• Basic Accounting Principles – Understanding Financial statements, bookkeeping and accounting cycles.
• Tax Laws – Overview of applicable state and central tax laws, including GST, Income tax, Professional tax and other relevant regulations.
• Compliance requirements – Ensuring that the business adheres to all required legal and statutory compliances.
• Financial Management – Techniques to manage cash flow, budgeting, forecasting, financial planning.
• Internal Controls – Implementing systems to prevent fraud and mismanagement.
• Performance Analysis – Assessing business performance through financial ratios and other metrics.

Through these short courses, ACCO-POWER aims to empower business owners with the knowledge needed to manage their finances effectively and maintain compliance with legal standards.