Course description
Highlights:
- International Accounting Standards: Learn IFRS, GAAP, and how to align financial
statements with international reporting standards. - GST and VAT: Understand how GST and VAT are applied in international trade, including compliance and reporting in various jurisdictions. - Financial Reporting & Tax Compliance: Master global financial reporting techniques
and international tax planning, including cross-border compliance. - Accounting Software: Gain proficiency in accounting software such as Tally, QuickBooks, Peachtree, SAP FICO, and SAP MM.
- International Auditing and Assurance: Learn auditing principles in the context of
international business and auditing standards like ISA.
Course Objectives:
By the end of this course, you will be able to: - Understand the differences between international accounting standards and local
accounting regulations. - Prepare and interpret financial statements in compliance with IFRS and other
international frameworks. - Utilize popular accounting software like Tally, QuickBooks, Peachtree, and SAPFICOfor financial operations and tax reporting. - Navigate international tax laws, including VAT, GST, and transfer pricing for
multinational corporations. - Conduct international audits and comply with auditing standards. - Manage financial transactions involving foreign currencies and exchange rates. - Apply cross-border financial management techniques in global business operations.
Course Structure:
1. Introduction to International Accounting
- Overview of international accounting and its global significance. - Differences between local accounting practices and international standards. - Introduction to IFRS (International Financial Reporting Standards) and GAAP. - Importance of accounting software in managing international financial operations
(Tally, QuickBooks, SAP FICO, Peachtree). - Globalization and its impact on accounting practices.
2. International Financial Reporting Standards (IFRS)
- Overview and history of IFRS. - Key IFRS standards: IFRS 1 to IFRS 16. - Transition from local accounting standards to IFRS. - Practical case studies in applying IFRS in international scenarios. - Using Tally and QuickBooks for preparing financial statements under IFRS.
3. Global Taxation and Transfer Pricing
- Introduction to international tax systems and treaties. - VAT/GST compliance in cross-border transactions and international trade. - Transfer pricing in multinational businesses. - Double taxation agreements and tax optimization strategies. - Hands-on training with SAP MM for VAT/GST
4. Cross-Border Financial Management - Managing finances across different countries and currencies. - Hedging foreign currency risk and managing exchange rate fluctuations. - Using SAP FICO to handle global financial transactions and currency exposure. - Cash flow management and repatriating profits.
- Managing investments and international financial portfolios.
5. International Auditing Standards
- International auditing frameworks and their application. - Role of auditors in multinational corporations. - Auditing financial statements under IFRS. - Key auditing standards: ISA and IAASB. - Hands-on training using QuickBooks and Tally for auditing processes.
6. Global Financial Reporting and Analysis
- Analyzing and preparing consolidated financial statements under IFRS. - Adjusting for international operations, foreign subsidiaries, and joint ventures. - Practical case studies on financial analysis for multinational corporations. - Using Peachtree for preparing financial reports and business
7. Accounting for Foreign Exchange and Currency Transactions
- Understanding foreign exchange markets and their impact on global finance. - Accounting for foreign currency transactions under IFRS. - Hedge accounting and managing foreign currency exposure in SAP FICO. - Revaluation and translation of foreign currency financial statements using Tally.
8. International Business and Corporate Governance
- The role of accounting in international business strategies. - Corporate governance in multinational corporations. - Financial regulations and compliance in global business. - The role of accountants in corporate social responsibility (CSR). - Navigating international regulations and understanding the ethical responsibilities inglobal business. Accounting Software and Tools Included: - Tally ERP: Learn how to use Tally for bookkeeping, VAT/GST compliance, and
financial reporting. A widely-used tool for small and medium enterprises. - QuickBooks: Practical training in QuickBooks for managing financial transactions, creating financial reports, and complying with global accounting regulations. - Peachtree: Hands-on experience with Peachtree (Sage 50) for accounting, inventory, andfinancial management, focusing on international trade and financial reporting. - SAP FICO: Learn to use SAP FICO for financial management, controlling, and
reporting in multinational companies, including managing currency exposure andcross- border transactions. - SAP MM: Understand how SAP MM helps manage the procurement, inventory, andaccounting functions in multinational businesses with a focus on GST and VATcompliance.
Learning Methodology:
- Interactive Lectures: Learn from experienced instructors with expertise in both
international accounting standards and popular accounting software. - Hands-On Software Training: Practical exercises using accounting software like Tally, QuickBooks, Peachtree, and SAP to simulate real-world accounting scenarios. - Case Studies and Practical Exercises: Apply your knowledge to real-world business
cases involving international finance, taxation, and auditing. - Assessments and Quizzes: Regular quizzes and assessments to reinforce learningandensure mastery of the key concepts. - Live Sessions and Webinars: Participate in live Q&A sessions and webinars withindustry experts for deeper insights into complex topics. - Discussion Forums: Engage with peers in discussion forums to share ideas and
perspectives on global accounting practices.
Who Should Enroll:
- Aspiring accountants seeking to specialize in international accounting practices andglobal tax systems. - Finance professionals who want to deepen their understanding of global accountingstandards and compliance. - Business owners and entrepreneurs planning to operate in international markets. - Accountants and financial managers working in multinational corporations. - Students aiming to build a career in global finance or corporate accounting. - Professionals looking to master popular accounting tools like Tally, QuickBooks, Peachtree, and SAP for international business operations. The Diploma in International Accounting with Tally, GST, SAP, QuickBooks, and Peachtreeis an ideal course for professionals and students aiming to excel in the dynamic field of
international finance and accounting. By blending international standards with hands-onsoftware training, this course will give you the expertise needed to work in multinational
organizations and navigate complex global financial environments.
