RETC &IACT

GOVT. APPROVED COURSESRETC - IACT JOINT VENTURE

IN VOCATIONAL PROGRAMMES

About RETC

The RETC (Rajeswary Educational Training Centre) is an NGO, running a charitable Educational Institution, registered with the Govt. of kerala under the society Registration Act 1986, in 2005, followed by an accreditation from NIOS (National Institute Of Open Schooling) Ministry of HRD, Dept. of Education, Govt. of India, New Delhi.

About IACT

We have very much pleasure to introduce ourselves as one of the best computer training center in Kollam at Kerala State With various job oriented training programmers . RETC & IACT will work together in the area of evolving appropriate training programmes as joint venture in store management.

“ Learn From The Masters To become a

Master ”

DIPLOMA IN

INTERNATIONAL ACCOUNTING

Our Courses

Certificate in

Store keeping & Inventory Management

Diploma in International Accounting

Approximately 120 Countries around the world currently permit IFRS (International Financial Reporting Standards).

This includes European Union, HongKong , Australia, South Africa, Malaysia, The middle East, Russia , Singapore and Turkey. Starting 2011,many more countries including India will be moving over to IFRS.

IFRS

International Financial Reporting Standards (IFRS) are a set of Accounting standards developed by the International Accounting Standards Board(IASB) that is becoming the global standard for the preparation of financial statements.

IASB

The IASB is a independent accounting standard setting body, based in London. It consists of 15 members from nine countries including the United State .The IASB began operations in 2001 when it succeeded the International Standards committee.

Accounting principles and applicability of IFRSAccounting principles and applicability of IFRSThe IASB has the authority to set IFRS and to approve interpretations of those

standards . IFRS are indented to be applied by profit oriented entities. These entities’ financial statement give information's about performance ,position and cash flow that is useful to arrange of users in making financial decisions . A set of financial statements includes

Balance sheet

Statement of comprehensive income

Cash flow statement

Statement of changes in equity

A description of accounting policies

Notes to the financial statementsThe concepts underlying accounting practices under IFRS are set out in the

IASB’s ‘Framework for the preparation and presentation of financial statements.’

ERPERP ( ( Entrepreneurs Resource Planning)Business houses always find great difficulty in quickly making out the required information because of the voluminous data, improper segregation, departmental arrangements and unprecedented delays. Organizations to do away with laborious and time consuming process.

A strong understanding of ERP basics will help to know ERP benefits.

CONCEPTS OF ACCOUNTING

There are Three Branches of Accounting

Financial Accounting

Cost Accounting or Control Accounting

Management Accounting or Decision Accounting

Financial or Trading

Accounting

That Branch of Accounting prepared for use to those who are outside the business is known as Financial Accounting.

Under this system emphasis is on the ascertainment and exhibition of the profits earned or loss as well as the financial position of the business.

Management Accounting or Decision Accounting

Accounting which is prepared to help managers to ran their business efficiently is called management accounting.

This helps to managers in planning and decision making.

Cost Accounting or control Accounting .

That branch of Accounting .Used to collect information for operations with a view to maximizing efficiency and profit is called.

BASICS OF ACCOUNTING

Principles and rules of Accounting Journal Entries Ledger Daybook Purchase Daybook Sales Daybook Purchase Returns Daybook Petty cash Book Preparation of Bank Reconciliation

Statement

Part 1 Level I

Finalization Procedure

1.Trial Balance

2. Trading Profit & Loss a/c

3.Manufacturing a/c

4.Income & Expenditure a/c

5.Receipt & payment a/c

6. Balance Sheet

Level 2

Part II Level 1

Basics of Computer

1.Fundamentals of Computer

2. Windows

3. Typing Practice

4. MS Word

5. MS Excel

‘Tally’ ( Indian Concept)

1.Creating Groups

1.Creating Ledger

1.Creating Vouchers

1.Journal Entries

ReportsBalance Sheet , Trading Profit & Loss a/c , Trial Balance, Income & Expenditure Ledger , Cash book , Bank book.

Part 3 Level I

Part 3 Level lI

F11 Features : Accounting Features

1.Bill wise Details

2. Cost centre & Cost categories

3. Multi Currencies

4. Debit Notes / Credit Notes

5. Budgeting

5. Bank Reconciliation Statement

Part 4 Level 1

A. ERP Concept

B. Classes for international Accounting (IFRS)

C. Peachtree (International Accounting package (USA))

1. Chart of Accounts2. General Journal Entries3. Accounts with beginning

balance4. Budgets5. Bank Reconciliation6. Customer7. Vendor8. Creating & Setting Inventory

Items

1. Financial Statements2. Payable a/c3. Receivable a/c4. Purchase order / Sales order5. Manufacturing a/c6. Trial balance7. Income statement8. Standard Balance sheet Part IV1. Project2. Exam

Part 3 Level lII

Inventory Features1. Creating Inventory Groups

2. Categories

3. Stock Items

4. Multi Units

5. Stock Journal

6. Using Godowns

6.Manufacturing Journal

7.Invoicing

8.Purchase order / Sales Order

9. Vat computation / Vat Reports

10. Branch accounting

STORES MANAGEMENT Introduction, Functions &

Objectives of Storekeeping

PART I (Theory)

1. Importance of stores management

2. Management & its function

3. Objectives & Importance of material

4. Scope & functions of storekeeping & purchasing

5. Departments closely linked to the stores department

PART II Functions, levels,

demand for casting

1. Important function

2. Factors under lying successfully, store keeping & its benefits

PART III

About store keeper and his merits

THE STORE KEEPER:-

1. Meaning

2. Qualifications

3. Duties & responsibilities

4. Comparison between store keeper Vs cashier

COURSE NO:II

CERTIFICATE IN

STOREKEEPING & INVENTORY

MANAGEMENT

Part VTypes of Storehouse & Material Classification

1.Identification of stores & Types of Materials2.Codification of Materials

Part VI Documents used during

purchase procedure

1. Purchase Requisition

2. Purchase Enquiry

3. Suppliers Quotation

4. Comparative Statement

5. Purchase Order

6. Bill/Invoice

PartVII

Store AccountingReceipt of Materials

a. Materials Receipt bookb. Materials Receipt Notesc. Daily Receipt Voucherd. Damage /Storage/Exess

Reporte. Package slipf. Bin Cardg. Stock Ledgerh. Stock identification card

2.Inspection Of Materials

a) Purchase order

b) Daily Receipt Voucher

c) Inspection Note

d) Rejection Note

e) Bin Card

f) Stock Identification Card

g) Stock Ledger 3. Issue Of Materials

a) Material Requistion Slip

b) Bin Card

c) Gate Pass

d) Stock Ledger

e) Stores Advice Note

4. Verification Of Stores

a) Stock taking Sheet

b) Stock Valuation Sheet

c) Bin Card d. Materials Transfer Note e. Materials Return Note f. Stock Ledger

Material Control Stock Day Sheet Stock Ledger Card Karex Card

PartVIII STOCK VALUATION FIFO LIFO

Average Price Method

Unique features of the coursesIACT Courses are designed with special feature to ensure rich cost Effective and supportive training to the students and provide a strongCareer foundation.Courses Structure and CertificateThe courses consist of Certificate and Diploma Courses rangingFrom one months to 8 months, only students passing the qualifiedExamination are eligible for the Certificate or Diploma. Certificate course is 1 to 6 months.Course MaterialsThe courses materials are prepared by experts in each field and designed to suite the requirement of students which is also useful for further reference also. For all courses materials are supplied by IACT.MONITORINGIACT have designed the scheme and syllabus, which are modified frequently to keep pace with the development of IT field .The Courses are monitored by the management. The state agencies conduct inspection at training centers to ensure that proposed standards are maintained.Feedback MechanismsTo get first feedback , personal interaction with students is encouraged.Internal tests assignments and practical session from a part of each course. IACT offers Best students to get scholarship.Other DetailsJob Training & Placement ServicesJob training and placement facility provided to support the students for entering the Domestic and international job markets is given by IACT using its links with variousBusines establishments at trainig centres.

We proudly display the photographs name and address of students who are well placed in India and abroad after completed the computer course

We assure you that we can do well in this training program so as to get the objective of govt . maintain the International standard of students.