Contact: 9810104810

U.S ACCOUNTING & TAXATION

U.S ACCOUNTING & TAXATION

U.S ACCOUNTING & TAXATION

U.S. Accounting Training Program – Detailed Syllabus

1. US GAAP & Accounting Principles

  • US GAAP vs IFRS
  • Accrual, Matching & Revenue Recognition
  • Accounting Equation & Double Entry System
  • Adjusting Entries
  • Financial Statements Overview

2. Chart of Accounts (QBO)

  • COA Structure
  • Account Categories & Numbering
  • Account Mapping
  • Creating Chart of Accounts in QuickBooks Online

3. Customer Centre

  • Customer Setup
  • Invoices & Sales Receipts
  • Payments & Deposits
  • Credit Memos & Refunds
  • Recurring Invoices
  • Sales Tax
  • Accounts Receivable & Customer Reports

4. Third-Party Integrations

  • CRM & QuickBooks Integration
  • Shopify, Amazon & eBay Integration
  • Excel & CSV Imports

5. Vendor Centre

  • Vendor Setup
  • Bills & Expenses
  • Payments & Vendor Credits
  • Accounts Payable Reports

6. Payroll

  • Payroll Setup
  • Gross Pay & Payroll Schedules
  • Mandatory & Voluntary Deductions
  • Payroll Journal Entries
  • Forms 941, 940, W-2 & W-3
  • Payroll Reconciliation

7. Form 1099

  • 1099-NEC vs 1099-MISC
  • Vendor Eligibility
  • Reporting Thresholds
  • Mapping & Electronic Filing

8. Fixed Assets

  • Asset Purchase Recording
  • Depreciation: Straight Line, MACRS, Bonus & Section 179
  • Asset Schedules

9. Deferred Revenue

  • Unearned Revenue
  • Journal Entries
  • Revenue Recognition (ASC 606)

10. Prepaid Expenses

  • Recording Prepaid Expenses
  • Amortization
  • Adjusting Entries

11. Accrued Expenses

  • Accrued Liabilities
  • Adjusting & Reversing Entries
  • Cash vs Accrual Accounting Impact

12. Bank Reconciliation

  • Bank & Credit Card Matching
  • Errors & Discrepancies
  • Bank Rules
  • Reconciliation Reports

13. Workflow Automation

  • Recurring Transactions
  • Auto-Categorization
  • Zapier Automation

14. Communication Skills

  • Professional Email Writing
  • US Client Communication
  • Interview Role-Plays
  • Freelancing Communication

15. Balance Sheet Review

  • Asset & Liability Review
  • Error Identification

16. Profit & Loss Review

  • Revenue & Expense Accuracy
  • Margin Analysis
  • Trend & Variance Analysis

17. Reports Review

  • QuickBooks Online Standard Reports
  • Custom Reports
  • Excel Export & Dashboards

18. Freelancing Work

  • Upwork, Fiverr & LinkedIn
  • Proposal Writing & Pricing
  • Client Onboarding
  • Payments & Invoicing

19. Exam & Interview Preparation

  • Mock Tests
  • Practical Accounting Questions
  • Interview Questions & Answers

Course Contents

  • Unit 1: Preliminary Work with Taxpayer Data
  • Unit 2: Filing Status & Residency
  • Unit 3: Dependency Rules
  • Unit 4: Taxable & Non-taxable Income
  • Unit 5: Investment Income
  • Unit 6: Basis of Assets
  • Unit 7: Capital Gains & Losses
  • Unit 8: Nonrecognition Transactions
  • Unit 9: Rental & Royalty Income
  • Unit 10: Other Taxable Income
  • Unit 11: Adjustments to Gross Income
  • Unit 12: Standard & Itemized Deductions
  • Unit 13: Individual Tax Credits
  • Unit 14: ACA & Premium Tax Credit
  • Unit 15: Practice on Form 1040 & Schedules
  • Unit 16: Retirement Income & IRAs
  • Unit 17: Foreign Income & Reporting

Course Overview

This course is a practical-oriented U.S. Taxation training program designed to provide real-world exposure to U.S. Individual Tax Preparation. The curriculum covers 17 essential units inspired by core Enrolled Agent (EA) topics, with a strong focus on live practical training using ProConnect and Drake Tax Software.

 

Unit 1: Preliminary Work with Taxpayer Data

  • Client onboarding & due diligence
  • Reviewing prior-year returns
  • Taxpayer identification & compliance basics

Unit 2: Filing Status & Residency

  • Filing status determination
  • Resident vs. Non-resident Alien Rules
  • Practical case scenarios

Unit 3: Dependency Rules

  • Qualifying Child vs. Qualifying Relative
  • Due diligence requirements
  • Common dependency errors

Unit 4: Taxable & Non-taxable Income

  • Wages, Interest & Dividends
  • Exclusions & Exemptions
  • Practical income classification

Unit 5: Investment Income

  • Interest & Dividend Income
  • Capital Assets Overview
  • Reporting investment income in returns

Unit 6: Basis of Assets

  • Cost basis rules
  • Adjustments to basis
  • Practical examples

Unit 7: Capital Gains & Losses

  • Short-term vs. Long-term gains
  • Loss limitations & carryovers
  • Schedule D reporting

Unit 8: Nonrecognition Transactions

  • Like-kind exchanges
  • Involuntary conversions

Unit 9: Rental & Royalty Income

  • Schedule E reporting
  • Depreciation basics
  • Passive activity rules

Unit 10: Other Taxable Income

  • Self-employment income
  • Other miscellaneous income
  • Schedule C overview

Unit 11: Adjustments to Gross Income

  • Above-the-line deductions
  • Retirement contributions
  • Student loan interest

Unit 12: Standard & Itemized Deductions

  • Standard deduction rules
  • Schedule A deductions
  • Practical comparison scenarios

Unit 13: Individual Tax Credits

  • Child Tax Credit
  • Education credits
  • Non-refundable vs. Refundable credits

Unit 14: ACA & Premium Tax Credit

  • Health insurance reporting
  • Form 8962
  • Reconciliation of advance credits

Unit 15: Practice on Form 1040 & Schedules

  • Form 1040 overview
  • Schedules A, B, C, D & E
  • Real return walkthroughs

Unit 16: Retirement Income & IRAs

  • IRA contributions & distributions
  • Pensions & Social Security income
  • Tax treatment in returns

Unit 17: Foreign Income & Reporting

  • Foreign earned income reporting
  • Foreign tax compliance
  • International reporting requirements

QUICKBOOKS

Module 1 - Creating a Company File

  • Overview
  • Create a Company File
  • Activate the Company File
  • Set Up Accounts
  • Set Up Preferences
  • Recording Journal Entry

Module 2 - Accounts

  • Enter Account Opening Balances
  • Preparing a Bank Deposit
  • Entering Transactions in the Bank Register
  • Transferring Money Between Accounts

Module 3 - Display Statements

  • Profit & Loss A/C
  • Trial Balance
  • Balance Sheet
  • Day Book
  • Journal Register

Module 4 - Inventory

  • Creating Items
  • Building Items
  • Recording Stock
  • Reviewing Inventory Information
  • Setting Item Price

Module 5 - Sales

  • Creating a Customer Account
  • Entering Sales
  • Recording Sale with Insufficient Item Quantities & Services
  • Changing Sale Type
  • Receiving Sales
  • Receiving Payment
  • Printing Payment Receipts
  • Supplier Who is also a Customer

Module 6 - Purchases

  • Creating Supplier Account
  • Entering Purchases
  • Recording Purchase with Insufficient Stock
  • Receiving Purchase
  • Paying Bill
  • Printing Payment Receipts
  • Recording Supplier Debits

Module 7 - Transactions

  • Finding a Transaction
  • Changing, Deleting & Reversing Transactions

Module 8 - Ordering

  • Entering Purchase or Sales Orders
  • Receiving Items With or Without Bill
  • Enter Sale or Purchase Against Order
  • Pay Bill

Module 9 - Financial Control

  • Credit Limit
  • Budgets and Check Budget Variance
  • Reviewing Financial Information

Module 10 - Using Price Levels

  • Using Price Levels
  • Set Custom Rates
  • Fixed Rate
  • As Per Item
  • Depreciation

Module 11 - Managing User Accounts and Company File

  • Managing User Accounts
  • Backing Up and Restoring Company File
  • Confirming Activated Company Files

Module 12 - Importing and Exporting Data

  • Exporting Data
  • Importing Data

Module 13 - Lists (Tax)

  • Setting Up Tax Codes
  • Creating Tax
  • Charging Tax in a Transaction
  • Recording Tax Transactions

Module 14 - Paying Your Employees

  • Creating Payroll Categories
  • Creating Employee Payroll Information
  • Processing Payroll
  • Payroll Liabilities
  • Payroll Reporting
  • Reviewing Payroll Information
  • Social Security Tax
  • Medicare Tax
  • Federal Unemployment Tax
  • State Unemployment Tax
  • Federal Income Tax
  • Ohio State Income Tax

Module 15 - Currency

  • Setup Multi-Currency
  • Create Multi-Currency Transactions
  • Create Multi-Currency Reports

Module 16 - Manufacturing Entry

  • Enable Inventory & Assembly Items
  • Create Inventory Parts
  • Create Assembly Item (BOM)
  • Build Assemblies (Manufacturing)

XERO

Module 1 - Getting Started With Xero

  • Introduction
  • Where is Xero and How to Access It
  • Making Xero Ready
  • Making Xero Ready – Adding Bank Accounts

Module 2 - Recording Money In, Money Out & Transfer

  • Recording Receive Money
  • Recording Transfer Money
  • Recording Spend Money
  • Uploading Bank Statement and Bank Reconciliation
  • Manual Journal (Accountants)

Module 3 - Sales Invoicing & Receivables

  • Recording Income
  • Customizing Invoice
  • Emailing Invoice to Customer from Xero
  • Raising and Sending Credit Note
  • Sending Statements to Customers
  • Automating Overdue Invoice Reminders
  • Reconciling Customer Receipts in the Bank

Module 4 - Expenses and Bills

  • Recording Expenses as Bills
  • Recording Payment Against Bills
  • Recording Expense Return (Credit Note)
  • Paying Bills from Bank Statement

Module 5 - Products/Services & Inventory

  • Introduction and Creating First Service Item
  • Upload Product/Service Items (Untracked)
  • Adding First Tracked Inventory Item
  • Recording Sales of Tracked Inventory Item
  • Uploading Tracked Inventory Items
  • Recording Inventory of Tracked Inventory Items
  • Recording Inventory Returns
  • Recording Inventory Write-Off
  • Inventory Valuation in Xero

Module 6 - Fixed Assets

  • Recording a Fixed Asset Purchase
  • Setting Up the Fixed Asset Module
  • Registering Fixed Assets in the Fixed Asset Module
  • Running Depreciation

Module 7 - Accounting of Sales Tax (VAT)

  • Introduction to Sales Tax
  • Setting Up Sales Tax in Xero
  • Applying VAT on Sales
  • Receiving Invoice Payment and Impact on VAT
  • VAT on Purchases and Expenses
  • Recording VAT on Expenses
  • Recording VAT on Spend and Receive Money
  • VAT on Fixed Asset Purchases
  • Adding a New VAT Rate
  • Double Sales Tax (GST + PST)
  • Sales Tax in the USA

Module 8 - Tracking Income and Expenses

  • Introduction
  • Adding Tracking Categories
  • Recording Income and Expenses
  • Filtering Reports for Tracking Categories

Module 9 - Accounting and Reporting for Multicurrency in Xero

  • Setting Up Xero Multicurrency
  • Raising a Foreign Currency Invoice
  • Understanding Auto-Calculated GBP Receivables
  • Receiving Payment Against the Invoice
  • Creating Foreign Currency Bank Account
  • Transferring Money to Foreign Currency Bank Account

Module 10 - Recording Overpayment and Prepayment

  • Recording Overpayment – Utilizing It and Repaying It
  • Overpayment for Expenses
  • Understanding Prepayment and Preparing for Prepayment Accounting
  • Receiving Payment
  • Prepayment Made
  • Prepaid Expenses to be Amortized
  • Amortization of Prepaid Expenses

Module 11 - Other Miscellaneous

  • Inviting and Managing Users
  • Activity History and Audit Trail
  • Locking Period
  • Conversion Balances
  • Cash Flow Statement
  • Reports

U.S ACCOUNTING & TAXATION Training center in West Delhi, Uttam nagar. Best certified computer course curriculum for professional learning institute near Dwarka, Uttam Nagar, Jankapuri, Tilak Nagar, Subhash Nagar, Tagore Garden, Rajouri Garden, Ramesh Nagar, Moti Nagar, Kirti Nagar, Shadipur, Patel Nagar, Rajendra Place, Karol Bagh, Jhandewalan, Ramakrishna Ashram, Connaught Place, vikaspuri, najafgarh, Delhi Cantt, Dhaula Kuan, Palam Colony, Palam Villag, Dabri, Hari Nagar, Fateh Nagar, Raja Garden, Punjabi Bagh, Shivaji Park, Paschim Vihar, Peeragarhi, Inderlok, Netaji Subhash Place, Pitampura, Rohini, Chandni Chowk, New Delhi, East Delhi, North Delhi, West Delhi.

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