Diploma in Commercial Accounting-12 months

Accounting is the language of every business irrespective of its nature and size. It helps businesses file Income Tax return ( PIT,BIT and CIT), plan for future, diversify their activities, strengthen their operations and of course enhance their profitability with its branches namely cost accounting and management accounting.In the kingdom of Bhutan, the field of business encourages new, enthusiastic entrepreneurs to promote new ventures. With this development, accounting assumes a significant role to play.Keeping this necessity in mind, Rigsum Institute of Technical Education and Management studies has initiated an exclusive course in practical accounting in the name of “Diploma in Commercial Accounting”.

This diploma programme comprises all the accounting practices being followed by Government undertakings, Semi-Government undertakings and small commercial ventures.
COURSE STRUCTURE (528 Hours= 264 days* 2Hours per day)
 Module Title
Learning Outcomes
Nominal Duration
Preparing Journal entries
1. Interpret the need for a accounting records
2. Prepare voucher
3. Process journal entries
4. Post journal entries and ascertain correct balances
64 Hours
Maintaining bills payable and receivable books
1. Process receiving documents
2. Process accounts receivable
3. Process accounts payable
 20 Hours
Maintaining cashbook
1. Identify different types of cashbook
2. Prepare different types of cashbook
30 Hours
Preparing trial balance
1. Prepare account with debit balance
2. Prepare account with credit balance
3. Prepare account with debit and credit balance. Suspense account
4. Rectify errors

26 Hours
Preparing payroll
1. Setup payroll records
2. Calculate payroll
3. Process tax forms/fillings

28 Hours
Preparing bank reconciliation statement (BRS)
1. Verify documents
2. Reconcile accounts

40 Hours
Identify different types of business organization
1. Describe sole trading organizations
2. Describe partnership firms
3. Describe joint stock company

8 Hours
Preparing final accounts
1. Prepare trading account and calculate gross profit or gross loss
2. Prepare profit and loss account and calculate net profit/net loss
3. Prepare balance sheet
4. Prepare final accounts with adjustments
5. Prepare manufacturing account and calculate cost of production

50 Hours
Preparing accounts of non trading organizations
1. Preparing receipts and payments account
2. Calculate surplus (excess of income over expenditure) or deficit (Excess of expenditure over income)

14 Hours
Interpreting different branches of accounting
1. Explain what is management accounting, financial accounting and cost accounting
2. Differentiate financial accounting and cost accounting, cost accounting and management accounting

4 Hours
Preparing cost sheet
1. Explain the meaning, advantages and components of cost sheet.
2. Explain the analysis of cost sheet, treatment of stock and identify purely financial charges and incomes.
3. Prepare cost sheet and calculate prime cost, work cost, administrative cost/cost of production, cost of goods sold, cost of sales/total cost, profit/loss on production
4. Calculate coat per unit of prime cost, work cost, administrative cost, cost of goods sold, cost of sales, profit/loss

16 Hours
Calculating Depreciation
1. Explain the meaning and need for charging depreciation.
2. Calculate the value of depreciation using different methods of charging depreciation

18 Hours
Maintaining stock records
1. Interpret the need for store and inventory management
2. Maintain store records and calculate material price when issued
16 Hours
Preparing contract account
1. Explain the treatment of various items in contract account
2. Prepare contract account
26 Hours
Preparing cash budget
1. Explain the need for cash budget
2. prepare cash budget
10 Hours
Preparing fund flow statement
1. Prepare schedule showing changes in working capital
2. Calculate fund form from operation
3. Prepare fund flow statement

22 Hours
Preparing cash flow statement
1. Calculate cash from operation
2. Prepare cash flow statement
14 hours
Interpreting the need for auditing
1. Explain and interpret the need of auditing
2. Explain the qualities of an auditor and generally accepted auditing practice
3. Check the cash transactions with documentary evidence

6 Hours
Maintaining books of accounting
1. Process journal entries and prepare vouchers
2. Post journal entries into ledger
3. Prepare cashbook, trial balance and final account

28 Hours
Operating tally
1. Achieve theoretical concept of tally
2. Perform basic operation of tally
3. Maintain company data
4. Use accounts information menu
5. Identify different vouchers used in tally
6. Maintain Accounts only
7. Use inventory information menu
8. Maintain Accounts with inventory
9. Use payroll information menu
10. Prepare payroll
11. Apply TDS and service Tax rules
12. View, print and interpret reports
13. Reconcile accounts and create duplicate entry

44 Hours
Performing Basic Computer Application
1. Operate and management personal computer
2. Perform word processing
3. Prepare spreadsheet application
4. Prepare PowerPoint Presentation
5. Perform Internet and Mailing Operation (Optional)

44 Hours