Taxation Scope

B.Com in Taxation is an undergraduate course in accounts. The length of the course is 3 years. The course covers the investigation of standards of bookkeeping, monetary arranging and monetary hypothesis alongside a specific concentrate on tax assessment which is named as a procedure of imposing a financial charge (tax) on the subjects who earn taxable income. Top Institutes offering this course are:
St. Alberts College, Ernakulam
Sacred Heart College
Bharat Mata College, Kochi
Osmania University, Hyderabad
Oriental University, Indore
B.Com in Taxation degree course prepares students for a professional qualification in taxation, finance, and accounting and provides a solid base in the field of Taxation, Accounting and Finance, thus making it easier to acquire a leadership / managerial role in the financial sector. The students are exposed to details of indirect taxes like customs and central excise tax, wealth tax, etc. Upon completion of the course, the students become capable to perform well in banking, financial institutions, in accounting, marketing services, and so on. B.Com. Taxation degree makes one qualified to work in Accounts and Finance bureaus of different firms and organizations, banks, government divisions and offices, instructive establishments and various different sorts of associations. Average starting salary offered to B.Com Taxation degree holder's ranges from INR. 2 to INR. 10 Lacs. All the best.

Financial accounting:
Financial accounting is mostly known as accrual-based accounting. Under the accrual method, companies record sales revenues and purchase expenses, when they are earned and incurred, regardless of whether cash from sales has been collected and cash for purchases has been paid. To determine a sale or purchase transaction date for recording, companies need to ascertain the completeness of a sale or purchase. Unfinished delivery of goods or services and partially receiving from a purchase don't account for an earned revenue and incurred expense. Recording doesn't take place until the completion of the sale or purchase orders.
Tax accounting:
Tax accounting often is referred to as cash-based accounting, and thus focuses primarily on actual cash receipts and cash payments, rather than their related sale or purchase transactions. Companies don't record a sale or purchase transaction at the time of the transaction until cash is received or paid later. Small businesses with annual sales of $5 million or less may elect to use the tax accounting to help them better manage their cash positions, which hold more significance to a small business's survival than a larger company.