- Provide a comprehensive understanding of the meaning, objectives, advantages, and limitations of accounting.
- Differentiate between bookkeeping and accounting, highlighting their respective roles in financial management.
- Equip students with the knowledge and skills necessary for maintaining company data accurately and efficiently.
- Familiarize students with various source documents such as invoices, credit notes, and vouchers and their importance in accounting processes.
- Explore the practical application of Tally software and its role in generating accounting reports, with a specific focus on GST.

Accounting as information system
Learn how accounting functions as a system to record, process, and communicate financial data.
Introduction
What you'll learn ?
- Articulate the core concepts of accounting and explain its significance in business operations.
- Understand the distinctions between bookkeeping and accounting and recognize their interdependence in maintaining financial records.
- Apply practical techniques in organizing and managing company data, ensuring data integrity and accessibility.
- Develop proficiency in recognizing, interpreting, and utilizing different source documents for accurate financial recording.
- Gain hands-on experience in using Tally for accounting purposes, including the generation of GST reports, enhancing their employability in the field of finance and accounting.
Certification
- KLiC courses are recognised by Yashwantrao Chavan Maharashtra Open University (YCMOU).
- MKCL provides certificate to the KLiC learner after his/her successful course completion.
- Yashwantrao Chavan Maharashtra Open University (YCMOU) provides mark sheet to successfully passed KLiC learners (Jurisdiction: Maharashtra).
Academic Approach
The academic approach of the courses 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 an employee or entrepreneur as well as development of the community to which s/he belongs. Learning methodology:
- Step -1: Learners are given an overview of the course and its connection to life and work.
- Step -2: Learners are exposed to the specific tool(s) used in the course through the various real-life applications of the tool(s).
- Step -3: Learners are acquainted with the careers and the hierarchy of roles they can perform at workplaces after attaining increasing levels of mastery over the tool(s).
- Step -4: Learners are acquainted with the architecture of the tool or tool map so as to appreciate various parts of the tool, their functions, utility and inter-relations.
- Step -5: Learners are exposed to simple application development methodology by using the tool at the beginner’s level.
- Step -6: Learners perform the differential skills related to the use of the tool to improve the given ready-made industry-standard outputs.
- Step -7: Learners are engaged in appreciation of real-life case studies developed by the experts.
- Step -8: Learners are encouraged to proceed from appreciation to imitation of the experts.
- Step -9: After the imitation experience, they are required to improve the expert’s outputs so that they proceed from mere imitation to emulation.
- Step-10: Emulation is taken a level further from working with differential skills towards the visualization and creation of a complete output according to the requirements provided. (Long Assignments)
- Step-11: Understanding the requirements, communicating one’s own thoughts and presenting are important skills required in facing an interview for securing a work order/job. For instilling these skills, learners are presented with various subject-specific technical as well as HR-oriented questions and encouraged to answer them.
- Step-12: 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, from self-expression to self-confidence and from self-confidence to self-reliance and self-esteem!
Syllabus
- Understanding The Basics of Accounting
- History and Roles of Accounting
- Accounting in Intangible Areas of Business
- Accounting in Ancient Times
- Modern Accounting
- Functions, Characteristics and Objectives of Accounting
- Accounting Ethics
- Introduction to Bookkeeping
- Benefits of Bookkeeping
- Things to Look Out for in Bookkeeping
- Generally Accepted Accounting Principles
- Best Accounting Practices
- Role of A Charted Accountant
- 4 Qualitative Characteristics of Financial Statements
- Introduction
- Types of bookkeeping
- Differences in Bookkeeping versus Accounting
- Sub-fields of accounting
- Financial Accounting
- Cost Accounting
- Human Resource Accounting
- Forensic Accounting
- User of Accounting Information
- Double Entry System
- Features of the Double Entry System
- Advantages and disadvantages of the Double Entry System
- Understanding Asset, Liability and Capital
- Asset, Liability and Capital Numerical Examples
- The Elements of Financial Statements
- Recognition for Particular Elements
- The Golden Rules of Debit and Credit
- Understanding a Transaction in Accounting Terms
- Rules for Determining Cash or Credit Transaction
- Kinds of Transaction
- Source Documents
- Types of Accounts
- Understanding Journal
- Aspects of Journal
- Basic Rules of Entering Transactions into the Journal
- Example of A Journal
- Types of Journals
- Understanding Ledger
- Example of A Ledger
- Balancing the Ledger
- The Journal and Ledger entail
- Five-column schedule
- Characteristics of a Trial Balance
- Examples of a Trial Balance
- Errors that are disclosed by a Trial Balance
- Suspense Account
- Closing Stock
- Returns Inwards and Returns Outwards
- Accounting Principles
- Accounting Concepts and Conventions
- Business Entity Concept Advantages and Disadvantages
- Money Measurement Concept
- Going Concern Concept
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- Factors in Deciding Going Concern
- Historical Cost Concept
- Realization Concept
- Accounting Concepts & Conventions
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- Accrual Concept
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- Periodicity Concept
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- Consistency Concept
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- Prudence Concept
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- Materiality Concept
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- Matching Concept
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- Full Disclosure
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- Substance Over Form
- Source Documents
- Invoice
- Credit Notes
- Vouchers Notes
- Bank Reconciliation Statement
- Inventory in Accounting
- Accounting Standard - Valuation of Inventories
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- NRV and NPV
- Cost of Inventories
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- Cost of Purchase Numerical Example
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- Cost of Conversion
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- Production Overheads
- Cost Excluded from Inventories
- Cost Formulas
- Techniques for the Measurement of Cost
- Understanding Payroll
- Payroll Management
- Elements of a Payroll Management System / Employee Information
- Work Timing Information / Salary / Wage Information
- Information on Deductions / Information on Benefits,
- Payroll Taxes / Information on Benefits
- Understanding TDS
- Provident Fund
- Conducting Payroll Management
- What is Accounting Report?
- Balance sheet
- Own
- Owes
- Income Statement
- Operating Section
- Non-operating Section
- Cash Flow Statement
- Cash from Operating Activities
- Cash from Investing Activities
- Cash from Financing Activities
- Introduction to Final Account
- Preparation of Trial Balance
- Trading Account
- Balancing Trading Account
- Preparing Profit and Loss Account
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- Profit and Loss Account Continued
- The Balance Sheet
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- Balance Sheets Formats
- Adjustments in Balance Sheets
- Introduction to Tally
- What is Tally?
- Versions of Tally
- Benefits of Tally
- Data Reliability and Security
- Payroll Management
- Management in the Banking Sector
- Regulation of Data Across Geographical Location
- Ease of maintaining a Budget
- Simple Tax Returns Filing
- Audit Tool for Compliance
- Remote Access of Data
- Quick Access to Documents
- Case Study-SM Process Plant Pvt Ltd
- Features of Tally
- Accounting Features in Tally
- Screen Guide
- Case Study - SM Process Plant Pvt Ltd
- Introduction to GST
- Central Goods and Services Tax
- State Goods and Services Tax
- Integrated Goods and Services Tax
- Goods and services which are exempt from the GST
- Breakdown of GST
- GST for Business
- GST Criteria
- Tax Deducted at Source
- Tax Collected at Source
- GST Return Filing
- Types of GST Return Forms
- Importance of business reports
- Provides an in-depth view of the business
- Uncover products in high demand
- Helps solve an existing issue
- Unleashes trends
- Bookkeeping and accounting softwares
- Using Tally Prime: Downloading Tally Prime
- Using Tally Prime: Creating a company
- Using Tally Prime: Creating a ledger
- History of Tally
- Tally Products
- Enterprise resource planning software
- Types of reports in Tally ERP
- Using Tally Prime: Recording sales and purchases
- GAAP – Best Practices
- Case Study-(Enron Corporation)
- Revenue Recognition
- Mark to Market
- Special Purpose Entities
- Financial Audit
Evaluation Pattern
Evaluation Pattern of KLiC Courses consists of 4 Sections as per below table:
Section No. | Section Name | Total Marks | Minimum Passing Marks |
---|---|---|---|
1 | Learning Progression | 25 | 10 |
2 | Internal Assessment | 25 | 10 |
3 | Final Online Examination | 50 | 20 |
Total | 100 | 40 | |
4 | SUPWs (Socially Useful and Productive Work in form of Assignments) | 5 Assignments | 2 Assignments to be Completed & Uploaded |
YCMOU Mark Sheet
Printed Mark Sheet will be issued by YCMOU on successful completion of Section 1, Section 2 and Section 3 and will be delivered to the learner by MKCL.
YCMOU Mark Sheet will be available only for Maharashtra jurisdiction learners
MKCL's KLiC Certificate
The certificate will be provided to the learner who will satisfy the below criteria:
- Learners who have successfully completed above mentioned 3 Sections i.e. Section 1, Section 2 and Section 3
- 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
Courses Fee Structure from 01 July, 2025 Onwards
KLiC 30 hour course fee applicable from 01 July, 2025 all over Maharashtra
KLiC Course Duration | MFO (Inclusive of GST) |
ALC Share (Service Charges to be collected by ALC) |
---|---|---|
30 hours | Rs. 300/- | Rs. 1,500/- |
* Above mentioned fee is applicable for all Modes of KLiC Courses offered at Authorised Learning Center (ALC) and at Satellite Center
* Total fee is including of Course fees, Examination fees and Certification fees
* MKCL reserves the right to modify the Fee anytime without any prior notice