Despite graduating with high grades, many students today lack practical accounting skills, which hampers their success in accounting careers. This deficiency often results in them securing lower-level positions and frequently switching jobs in pursuit of better opportunities. Consequently, businesses face high attrition rates and a lower quality of incoming accountants. Companies invest significant time in training new hires, only to see them leave for better prospects, perpetuating a costly and disruptive cycle.

To address the challenges faced by both accountants and employers/business owners, ACCO-COACH, under its vertical ACCO-SKILL, has developed short-term, experiential learning courses designed to provide new accountants with practical experience in various aspects of business accounting. These courses cover:

• Hands-on training with popular accounting software such as Tally and Zoho Books
• Generating various reports from processed accounts within the software
• Understanding GST principles, registration, periodic return filing, accounting entries, and reconciliation of entries between the portal and books of accounts
• Structuring salaries for income tax planning, calculating TDS on salaries
• Applicability of TDS on business payments, deduction rules, relevant income tax sections, regular TDS payments to the tax department, e-TDS return filing, and generating Form 16 and Form 16A
• Finalizing books of accounts for year-end audits, coordinating with statutory auditors for financial statement preparation, closing entries, reconciling books of accounts with final accounts, and related activities

This course will enhance accountants’ practical accounting knowledge, making them more proficient and increasing their employability and earning potential. Business owners will benefit from having more skilled accountants, leading to more accurate books of accounts, insightful periodic reports on business performance, and compliance with statutory requirements.