Financial Statements Preparation

Accurate and compliant financial statements are essential for regulatory compliance, stakeholder communication, and business decision-making. Our financial statement preparation services ensure your business meets all statutory requirements while providing stakeholders with transparent and reliable financial information that reflects your company’s true financial position and performance.

Comprehensive Financial Statement Suite

Primary Financial Statements:

Balance Sheet Preparation:

Asset classification and valuation
Liability recognition and measurement
Equity component analysis
Working capital presentation
Long-term asset and liability categorization
Comparative period adjustments

Profit and Loss Statement:

Revenue recognition compliance
Expense classification and matching
Operating vs. non-operating categorization
Exceptional item identification
Earnings per share calculations
Comprehensive income presentation

Cash Flow Statement:

Operating activities cash flow using indirect/direct method
Investing activities identification and classification
Financing activities analysis
Cash and cash equivalent reconciliation
Foreign currency translation adjustments
Supplementary cash flow disclosures

Statement of Changes in Equity:

Share capital movements
Retained earnings reconciliation
Other comprehensive income items
Reserve movements and transfers
Dividend declarations and payments
Treasury share transactions

Regulatory Compliance Framework

Indian Accounting Standards (Ind AS) Compliance:

Revenue Recognition (Ind AS 115):

Performance obligation identification
Transaction price determination
Contract modification accounting
Variable consideration assessment
Principal vs. agent analysis
Contract asset and liability recognition

Lease Accounting (Ind AS 116):

Lease vs. service contract evaluation
Right-of-use asset recognition
Lease liability measurement
Subsequent measurement requirements
Lease modification accounting
Transition impact assessment

Financial Instruments (Ind AS 109):

Classification and measurement requirements
Expected credit loss provisioning
Hedge accounting application
Fair value measurement compliance
Derecognition criteria application
Disclosure requirements fulfillment

Companies Act 2013 Compliance:

Schedule III Requirements:

Prescribed format adherence
Comparative figure presentation
Additional disclosure requirements
Related party transaction disclosure
Auditor’s report compliance
Board approval requirements

International Standards Alignment

IFRS Compliance for Global Reporting:

IFRS Convergence:

Difference identification between Ind AS and IFRS
Reconciliation statement preparation
Global reporting requirement satisfaction
Parent company consolidation support
Cross-border transaction accounting
Foreign subsidiary reporting

US GAAP Compliance (where applicable):

Revenue recognition under ASC 606
Lease accounting under ASC 842
Financial instrument accounting
Stock compensation accounting
Segment reporting requirements
SEC reporting compliance

Specialized Financial Statement Services

Consolidated Financial Statements:

Group Reporting:

Subsidiary identification and control assessment
Intercompany transaction elimination
Non-controlling interest calculation
Goodwill impairment testing
Foreign currency translation
Joint venture and associate accounting

Business Combination Accounting:

Purchase price allocation
Fair value measurement
Contingent consideration accounting
Acquisition-related cost treatment
Step acquisition accounting
Bargain purchase recognition

Industry-Specific Considerations

Manufacturing Companies:

Inventory Valuation:

Raw material, work-in-progress, and finished goods valuation
Standard costing vs. actual costing
Obsolete inventory provisioning
Inter-location transfer accounting
Consignment inventory treatment
Waste and by-product accounting

Construction and Real Estate:

Project Accounting:

Percentage of completion method
Contract asset and liability recognition
Change order accounting
Warranty provision calculation
Joint operation accounting
Land development cost capitalization

Service Companies:

Service Revenue Recognition:

Performance obligation satisfaction
Milestone-based revenue recognition
Subscription revenue accounting
Professional service billing
Long-term contract accounting
Customer loyalty program accounting

Audit Preparation and Support

Audit Readiness:

Pre-Audit Preparation:

Trial balance accuracy verification
Supporting documentation compilation
Account analysis and explanation preparation
Audit adjustment anticipation
Prior year audit point resolution
Management representation preparation

Statutory Audit Support:

Auditor query response coordination
Additional information provision
Audit adjustment processing
Management letter response
Compliance certificate preparation
Post-audit implementation support

Internal Audit Coordination:

Internal control evaluation
Process improvement identification
Risk assessment updates
Compliance gap analysis
Management action plan development
Follow-up and monitoring

Quality Assurance and Review

Multi-Level Review Process:

Technical Review:

Accounting standard compliance verification
Calculation accuracy validation
Disclosure completeness assessment
Presentation format verification
Comparative period consistency
Cross-reference accuracy checking

Senior Review:

Business logic validation
Industry benchmark comparison
Regulatory compliance confirmation
Stakeholder requirement satisfaction
Risk factor assessment
Materiality consideration evaluation

Technology Integration

Automated Financial Statement Preparation:

ERP Integration:

Direct data extraction from accounting systems
Automated journal entry processing
Real-time consolidation capabilities
Multi-currency handling
Inter-company elimination automation
Variance analysis automation

Reporting Software Utilization:

Financial statement template creation
Automated footnote generation
Comparative analysis tools
Drill-down capability implementation
Export format customization
Stakeholder distribution automation

Timeline Management

Reporting Calendar:

Monthly Statements:

Month-end closing procedures
Preliminary statement preparation
Management review and approval
Stakeholder distribution
Variance analysis completion
Next month preparation

Quarterly and Annual Reporting:

Quarter-end adjustment processing
Regulatory filing preparation
Annual audit coordination
Tax return preparation support
Board presentation materials
Investor communication support

Disclosure Management

Financial Statement Notes:

Critical Accounting Policies:

Significant accounting policy disclosure
Estimation uncertainty explanations
Judgment area identification
Change in accounting policy impact
Error correction disclosures
Prior period adjustment explanations

Risk and Contingency Disclosures:

Litigation and claims disclosure
Contingent liability assessment
Subsequent event evaluation
Going concern assessment
Fair value measurement disclosures
Related party transaction details

Our financial statement preparation services ensure your business maintains the highest standards of financial reporting while meeting all regulatory requirements and stakeholder expectations for transparency and accuracy.