SCOPE
What the work covers
Financial statements
Preparation of financial statements under Schedule III and for LLPs, firms and trusts.
Accounting standards
Application of Accounting Standards and Ind AS to specific transactions.
Closing process
Month-end and year-end closing, reconciliations and schedules.
Management reporting
Reporting packs for management, partners and boards.
Lender reporting
Stock statements, covenant workings and information for lenders.
Accounting systems
Review of chart of accounts and accounting system set-up.
APPROACH
How matters are handled
Reporting work is built on reconciled records and a clear closing process. Accounting policies are documented, and management reports are kept consistent with the statutory financial statements.
01
Records
Ledgers and reconciliations are reviewed.
02
Policies
Accounting policies are documented and applied.
03
Preparation
Financial statements and reports are prepared.
04
Review
Drafts are reviewed with management.
LAWS AND FORUMS
Framework and outputs
LAWS
Companies Act, 2013: Schedule III
Accounting Standards and Ind AS
LLP Act, 2008
Guidance issued by ICAI
TYPICAL OUTPUTS
Financial statements
Management reporting packs
Closing checklists and schedules
Lender information
