TRT (Tax Return Professional)
⮚ Income Tax Registration
⮚ Income Tax Laws
⮚ Income Tax Returns
- Business Individual
Sections And Laws
- Definitions [SEC 2]
- Tax on taxable income [SEC 4]
- Taxable Income [SEC 9]
- Total income [SEC 10]
- Head of Income [SEC 11]
- Salary [SEC 12]
- Income from property [SEC 15]
- Incomes from business [SEC 18]
- Depreciation [SEC 22]
- Capital Gains [SEC 37]
- Capital gain on disposal of securities [SEC 37A]
- Income from other sources [SEC 39]
- Deduction in computing income chargeable under the head “income from other sources” [SEC 40]
- Agriculture Income [SEC 41]
- Set off losses [SEC 56]
- Carry forward of business losses [SEC 57]
- Carry forward of speculation business losses. [SEC 58]
- Carry forward of capital losses [SEC 59]
- Minimum Tax on income of certain persons [SEC 113]
- Return of income [SEC 114]
- Tax payer’s profile [SEC 114A]
- Persons not required furnishing a return of income [SEC 115]
- Wealth Statement [SEC 116]
- Filing income and asset statement [SEC 116A]
- Notice of discontinued business [SEC 117]
- Method of furnishing returns and other documents [SEC 118]
- Revision by commissioner [SEC 122A]
- Revision by legal commissioner [SEC 122B]
- Agreed Assessment in certain cases [SEC 122D]
- Tax payer registration [SEC 181]
- Active Tax payer list [SEC 181A]
- Withholdings [SEC 148-156]
- Advance Tax [SEC 231-236]
- Deductible allowances [SEC 60]
- Tax credits [SEC 61-63]
- Tax Year [SEC 74]
- Resident and non-residence individual, AOP & Company [SEC 81-84]
- ACT [SEC 113C]
- Advance Tax [SEC 147]
Sales Tax Registration
- Registration and person required to be registered [Sec 14]
- Registration application (Rule 5)
- Registration application (Rule 5)
- Compulsory registration (Rule 6)
- Change in the particulars of registration (Rule 7)
- Transfer of registration (Rule 8)
- De-registration (Sec 21)
Sales Tax Laws
- Sales Tax Act 1990
- Punjab Sales Tax on Services Act 2012
- Sindh Sales Tax on Services Act 2011
Sales Tax Returns
- Return [SEC 26]
- Extension of time for furnishing returns [SEC 26AB]
- Special Returns [SEC 27]
- Final Return [SEC 28]
FRP (Financial Reporting Professional)
Key Accountancy Concepts
- Accrual and Cash basis accounting
- Matching concept
- Materiality concept
- Going concern
- Prudence concept
- Substance over form concept
- Consistency and comparability concept
- Nature of accounting heads debit and credit
Use of Financial Ratios
Use of numerical values taken from financial statements to gain meaningful information about a company such as:
- Liquidity ratios
- Leverage ratios
- Efficiency ratios
- Profitability ratios
- Market value ratios
Professional bookkeeping of entities using most used software in market
- Bookkeeping using Microsoft excel
Professional Level Use of Microsoft Excel
- Use of various formulas in excel
- Shortcut keys
- Use of Lookup and Pivot table
- Managing and maintenance of data using excel
- Daily assignments of course will be required to be prepared on excel.
Financial Statement Preparation
- Enabling students to prepare professional level financial statements
- Knowledge of financial statement disclosure requirements of various business sectors such as banking, insurance and manufacturing concerns.
Legal Requirements by SECP & FBR For Preparation and Presentation of
- Knowledge of legal requirements for Preparation and presentation of financial statements
- Time, method and requirement of filing of financial statements with SECP & FBR
Financial Reporting Professional (FRP)
- International Accounting Standards (IFRS & IAS)
- Accounting & Bookkeeping (Xero, Quick books, MS Excel)
- Financial Statements Preparation
- Ratio Analysis
- Business Feasibility Report
IFRS & IAS (Applicable Financial reporting framework)
International Accounting Standards
- Presentation of Financial Statements [IAS 1]
- Inventories [IAS 2]
- Statement of Cash Flows [IAS 2]
- Accounting Policies, Changes in Accounting Estimates and Errors [IAS 8]
- Events after the Reporting [IAS 10]
- Income Taxes [IAS 12]
- Property, Plant and Equipment [IAS 16]
- Employee Benefits [IAS 19]
- Accounting for Government Grants and Disclosure of Government Assistance [IAS 20]
- Borrowing Costs [IAS 23]
- Related Party Disclosure [IAS 24]
- Separate Financial Statements [IAS 27]
- Financial Instruments: Presentation [IAS 32]
- Earnings per Share [IAS 33]
- Impairment of Assets [IAS 36]
- Provisions, Contingent Liabilities and Contingent Assets [IAS 37]
- Intangible Assets [IAS 38]
- Financial Instruments: Recognition and Measurement [IAS 39]
- Investment Property [IAS 40]
- Agriculture [IAS 41]
International Financial Reporting Standard
- First-time Adoption of International Financial Reporting Standards [IFRS 1]
- Share-based Payment [IFRS 2]
- Insurance Contracts [IFRS 4]
- Non-current Assets Held for Sale and Discontinued Operations [IFRS 5]
- Financial Instruments: Disclosures [IFRS 7]
- Operating Segments [IFRS 8]
- Financial Instruments [IFRS 9]
- Disclosure of Interests in Other Entities [IFRS 12]
- Fair Value Measurement [IFRS 13]
- Revenue from Contracts with Customers [IFRS 15]
- Leases [IFRS 16]
- Insurance Contracts [IFRS 17]
- Techniques for Manual Accounting and Computerized Accounting.
- Basics to Accounting Software.
- Complete QuickBooks expertise.
- Decide the category of your industry and the type of your organization.
- Customize your business according to your company requirements.
- Create an effective company profile.
- Learn the difference between single and double-entry bookkeeping.
- Manage fiscal year data.
- Set tax percentages.
- Set product tax deductions.
- Perform forecasts and estimates.
- Make use of finance tracking.
- Manage financing timelines.
- Learn about setting up different accounts i.e. Revenue, Income, Expense.
- Setup the Chart of Accounts.
- Manage and input data in accounts.
- Manage customer information.
- Fill customer orders and carry out customer tasks.
- Manage sales and read receipts.
- Set up vendor and customer information.
- Delete and close customer/vendor tasks.
- Record and manage purchases.
- Learn the different journal entries and how they are used.
- Understand debit and credit concepts.
- Company data security and restoration.
- Learn to work with banks associated with your business.
- Practical application from real company data.
- Analyze financial data and advanced reports.
Bookkeeping in Detail (For Freelancing & Local Market)
MS Excel Advance
- MS-EXCEL spreadsheet usage
- Using the toolbar and different tabs
- Complete formatting and editing mastery
- Using Excel for business segments and business purposes
- How to apply excel function in business reporting and analysis context
- Learn how to apply arithmetic formulas and calculations
- Learn about cell referencing and applying conditional formulas
- Learn about creating new rules and conditions
- Learn how to create tables and use filters
- Learn how to format tables and link data
- Learn how to review and remove conflicting or duplicated data
- Learn various shortcuts from basic functions such as cut, copy, paste, paste special to
- advanced shortcuts such as data manipulation
- Formatting cells for currencies, dates, text functions
- Learn how to draw and edit charts and graphs
- Learn how to edit and infer from pie charts, bar graphs, histograms etc.
- Learn how to create pivot tables and manipulate shown data
- Learning about Slicers, Timelines, Report Connections, Group Selection, Calculated Fields
- Learn about using Look Up and Reference Functions
- Learn how to conduct Forecasts and apply "What-If Analysis"
- Learn about Goal Seek
- Learn how to use scenario manager functions
- Learn about using forecasting functions
- Learn the concepts for relative and absolute Macros
- Learn about using the developer options such as Form Controls and ActiveX Controls
- Learn about writing basic commands
- Learn how to manage large data series
- Practical Application with Examples
CRP (Corporate Registration Professional)
SECP Registration and Compliances
- How to create login?
- How to reserve name of a company?
- How to Register a Company?
- How to appoint auditor of the company?
- How to file annual form i.e. Form A&29?
- How appoint authorized signatory?
- How to appoint/change of any director or CEO?
- How to increase the share capital?
- Change of Company Name
- Change of company Address
- Ultimate Beneficial Ownership (UBO Compliance)
- How to apply certified true copy of any document?
- How to change principal line of the company?
- How to alter memorandum of Association?
- How to file of Annual Accounts?
- National Tax Number (NTN)
- Sales Tax Registration Number (STRN)
- Updating of Multiple Forms
Provincial Sales Tax
- Punjab Revenue Authority Scope
- Punjab National Tax Number (PNTN)
Association of Persons (AOP) Formation and Compliance
Intellectual Property Organization (IPO Registration)
- Logo /Trade Mark Registration
Registration & Requirements in Chamber of Commerce
Import/Export license Registration & Requirements
TRNC (Tax Records & Notices Compliance)
Appeals & Authorities
- Appeal to the commissioner (Appeals) [SEC 127]
- Procedures in Appeal [SEC 128]
- Decisions in Appeal [SEC 129]
- Appellate tribunal [SEC 130]
- Appeals to Appellate Tribunal [SEC 131]
- Disposal of Appeals [SEC 132]
- Assessment giving effect to an order [SEC 124]
- Power of tax authorities to modify orders [SEC 124 A]
- Reference to high court [SEC 133]
- Unexplained income and assets [SEC 111]
- Assessments [SEC 120]
- Amendment of Assessment [SEC 122]
- Due dates for payment of tax [SEC 137]
- Records [SEC 174]
- Notice to obtain information /evidence [SEC 176]
- Audit [SEC 177]
- Best Judgment Assessment [SEC 121]
- Failure to pay Tax Collected or Deducted [SEC 161]
- Rectification of Mistakes [SEC 221]
Sales Tax Records and Notices
Appeals & Authorities
- Access to record, documents [SEC 25]
- Appeals [SEC 45B]
- Appeals to Appellate Tribunal and Revenue (ATIR) [SEC.46]
- Reference to the High Court [Sec.47]
- Assessment of tax & recovery of tax [SEC 11]
- Assessment of tax giving effect to an order [SEC 11B]
- Offering [SEC 33]
- Default Surcharge [SEC 34]
- Power to summon persons to give evidence and produce documents in inquiries under the act [SEC 37]
- Obligation to produce documents and provide information [SEC 38 B]
- Selection for Audit by the board [SEC 72B]
AAP (AUDIT ASSURANCE PROFESSIONAL)
Introduction To Auditing
- Describe auditing
- Distinguish between auditing and accounting
- Describe assurance services and distinguish audit services from assurance services
- Differentiate three main types of audits
Planning (Audit Risk, Materiality & Control testing)
- Discuss why adequate audit planning is essential.
- Identify factors considered by auditors in accepting new clients.
- Gain an understanding of client’s business and industry.
- Assess client’s business risk.
- Perform preliminary analytical procedures.
- Describe the major steps in audit process.
- Compute common financial ratios.
Quick Overview of Financial Statements, General Ledger & Trial Balance
- Describe parts of standard unqualified audit report.
- Specify the conditions for a standard unqualified report.
- Describe circumstances for appropriate unqualified report.
- Identify types of audit reports when an unqualified opinion is not justified.
- Explain effects of materiality on audit reporting decisions.
Audit – Companies Act 2017 requirements
Auditors Professional Conduct
- Explain the need for the auditor to display integrity, independence and objectivity.
- Explain the importance of ethical conduct for the accounting profession.
- Describe the purpose and content of the code of ethics.
- Describe and apply the rules and procedures when there is a change in professional appointment.
- Describe and apply the procedures surrounding conflicts of interest
- Fundamental concepts of internal auditing
- Why Internal Auditing
- Understanding internal controls
- Risk Management
Freelancing Training Sessions
- People Per Hour
Profile completion / Job searching / Proposal / Payment method
- Keyword / Purchasing
- Page management/ Ad posting/ Ad image
- Linked In
- Business cards/ Gig image/ Logo design/ Resume/ Flyer/ Poster