Statutory Financial Accounts
Professional preparation of accurate, compliant, and timely financial statements under AS, Ind AS, or Income Tax Act requirements - audit-ready and fully compliant.
About This Service
Financial statements are the primary means through which a business communicates its financial position and performance to stakeholders - including shareholders, lenders, regulators, tax authorities, and the public. The accuracy, completeness, and compliance of these statements are not merely a legal obligation; they are fundamental to the credibility and trustworthiness of the business.
Our service ensures that financial statements are prepared in accordance with the applicable accounting standards, comply with statutory requirements, and present a true and fair view of the business's financial affairs. For businesses that may not have in-house expertise to handle this function, our support provides both quality and peace of mind.
Who Can Benefit
SMEs & Startups
Businesses that maintain books internally but lack in-house expertise to convert records into fully compliant statutory financial statements.
Companies & LLPs
Entities required to file financial statements with ROC in XBRL or non-XBRL format, needing compliance with Schedule III and accounting standards.
Firms & Proprietorships
Businesses needing financial statements for income tax filings, bank submissions, partner reporting, or loan applications.
Key Service Areas
Balance Sheet Preparation
Statement of assets, liabilities, and equity prepared in accordance with the applicable accounting framework and disclosure requirements.
Profit & Loss Statement
Income, expenses, and profit/loss statement with proper classification and compliance with Schedule III and Accounting Standards.
Cash Flow Statement
Operating, investing, and financing cash flows presented as per the applicable standards, providing clarity on liquidity movement.
Notes to Accounts
Detailed disclosures covering accounting policies, break-ups of key items, and additional information required by standards and law.
AS & Ind AS Compliance
Selection and consistent application of the correct accounting framework - Accounting Standards or Ind AS - based on company category and regulations.
XBRL Filing Support
Preparation and tagging of financial statements in XBRL format for filing with the Registrar of Companies, where applicable.
Audit-Ready Statements
Supporting schedules, reconciliations, and documentation to ensure financial statements are fully prepared for statutory audit.
Multi-Entity Financials
Preparation of financial statements for companies, LLPs, partnership firms, and proprietorships under the applicable legal framework.
Our Process
Understand the Business
We invest time in understanding your business, its transactions, accounting policies, and the applicable reporting framework to ensure the financial statements accurately reflect the economic substance of your activities.
Review Books & Records
We review books of account, supporting documents, bank reconciliations, and provisions to ensure completeness and accuracy. Any gaps or issues are addressed before finalizing the statements.
Apply Accounting Standards
Appropriate accounting policies are selected and consistently applied. Necessary estimates and judgments are made, and all required disclosures are prepared in the notes to accounts.
Prepare & Review
Complete financial statements are prepared and internally reviewed. We discuss the draft statements with you, explain key aspects, and finalize them. Support for audit and filing follows as needed.