Skip to main content
Financial Advisory

Financial Statement Preparation

Practice01/06

Balance Sheet.

Note01
Schedule III balance sheet drafting with classification and grouping of material items.
Index06 Practices
01Balance Sheet
02Statement of Profit & Loss
03Cash Flow Statement
04Statement of Changes in Equity
05Notes to Accounts
06Supplementary Schedules

Statement Preparation Services

We prepare the complete suite of financial statements required under Indian accounting standards and the Companies Act:

Balance Sheet

Assets, liabilities, and equity presented in Schedule III format with proper classification, grouping, and disclosure of material items.

Statement of Profit & Loss

Revenue, expenses, and comprehensive income presented with appropriate line items, subtotals, and earnings per share calculations.

Cash Flow Statement

Operating, investing, and financing activities prepared under the indirect method with reconciliation to opening and closing cash balances.

Statement of Changes in Equity

Movement in share capital, reserves, and retained earnings with clear presentation of dividends, transfers, and other comprehensive income.

Notes to Accounts

Comprehensive disclosures covering accounting policies, significant estimates, contingent liabilities, related party transactions, and segment information.

Supplementary Schedules

Supporting schedules for fixed assets, investments, loans, borrowings, and other balance sheet items requiring detailed breakdowns.

Why Properly Prepared Statements Matter

Financial statements are more than compliance documents—they communicate your financial position to stakeholders who make decisions based on them.

  • Statutory compliance — statements meet Companies Act and Ind AS requirements without qualification risks
  • Lender confidence — banks and financial institutions receive information in formats they expect and trust
  • Audit efficiency — well-prepared statements reduce audit queries, adjustments, and overall audit fees
  • Board readiness — directors receive clear financial information for governance and decision-making
  • Investor communication — potential investors and partners see professional, standards-compliant financials
  • Regulatory filings — ROC, tax authorities, and regulators receive properly formatted submissions

Our Preparation Process

Step 1

Framework Assessment

We confirm the applicable accounting framework (Ind AS, Accounting Standards, or IFRS) and identify specific disclosure requirements for your entity type and industry.

Step 2

Trial Balance Review

The trial balance is examined for completeness, proper account classification, and identification of items requiring adjustment or reclassification.

Step 3

Adjustments & Provisions

Year-end adjustments, provisions, accruals, and fair value measurements are calculated and documented with supporting workings.

Step 4

Statement Drafting

Primary financial statements are prepared in Schedule III format with proper grouping, sub-classification, and comparative figures.

Step 5

Disclosure Preparation

Notes to accounts are drafted covering all mandatory disclosures, accounting policies, significant judgments, and supplementary information.

Step 6

Review & Finalisation

Complete statements undergo internal review for accuracy, consistency, and compliance before delivery with supporting schedules and workpapers.