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+91 7044410150

Contact Email

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Accounting & Audit

Financial Statements Preparation

Ensure transparency, meet strict statutory mandates, and gain actionable business insights with accurate and legally compliant financial statements.

Overview

What is Financial Statements Preparation?

Financial Statements Preparation is the systematic compilation of your company’s financial data to reflect a true and fair view of its state of affairs and profitability. Under Section 129 and Section 2(40) of the Companies Act, 2013, every company is legally mandated to prepare financial statements, which include a Balance Sheet, a Profit and Loss Account, a Cash Flow Statement, and necessary explanatory notes. These statements must strictly comply with the applicable Accounting Standards (AS) or Indian Accounting Standards (Ind AS) and be formatted according to Schedule III of the Act. Beyond statutory compliance, accurately drafted statements provide stakeholders, investors, and management with critical insights into the business’s overall health and equity. Calcutta Corporate expertly prepares your end-to-end financial statements, ensuring absolute precision, compliance, and readiness for statutory audits.

Why do it

Key Benefits

Statutory Compliance

It ensures your company meets the mandatory legal requirements outlined in Section 129 of the Companies Act, 2013, preventing severe regulatory penalties.

True and Fair View

Accurately compiled accounts provide a reliable, unbiased, and legally compliant representation of your company's financial position and operational performance.

Auditor & Board Approval

Well-prepared statements facilitate smooth statutory audits and meet the compliance requirements for mandatory Board of Directors approval under Section 134.

Investor Confidence

Transparent and standardized financial reporting builds immense trust with shareholders, institutional investors, and banks, aiding in capital acquisition.

Better Decision Making

Detailed insights into your assets, liabilities, and operating cycle empower management to make data-driven, strategic financial decisions.

Taxation Accuracy

Aligning your books with the prescribed Accounting Standards ensures exact tax provisioning, preventing discrepancies during Income Tax and GST assessments.

How it works

Step-by-Step Process

Trial Balance & Data Gathering

We extract your final trial balance and systematically review all recorded daily transactions, ledgers, and trial balances for the specified financial year.

Ledger Scrutiny & Adjustments

Our accountants perform a rigorous scrutiny of accounts, passing necessary adjustment entries for accruals, prepaid expenses, and outstanding liabilities.

Depreciation & Tax Provisioning

We calculate precise depreciation on Property, Plant and Equipment and estimate corporate tax provisions in alignment with applicable tax laws.

Drafting the Core Statements

Audit findings, observations, and recommendations are compiled into a draft audit report for your review.

Notes to Accounts Formulation

We draft detailed explanatory notes detailing accounting policies, related party disclosures, and cross-referenced line items to ensure full transparency.

Finalization & Director Approval

The finalized drafts are presented for management review and subsequent formal approval and signature by the Board of Directors prior to the AGM.

What you need

Documents Required

Ready to get started with Financial Statements Preparation?

Our team will guide you through every step โ€” from documentation to final registration. Most services are completed faster than you expect.