We advise and support organizations in preparing financial statements under the Companies Act 2013 as well preparing consolidated financial statements.
Companies incorporated under the Companies Act 2013 are required to prepare financial statements in accordance with Schedule III to the Companies Act 2013. The financial statements are supposed to give a true and fair view of the state of affairs of a company and shall comply with the accounting standards notified.
The Companies Act 2013 also states that if a company has one or more subsidiaries it has to prepare consolidated financial statement of the company and it’s subsidiaries as provided by Schedule III.
Financial statements are important because they contain significant information about the organizations health and also help companies make informed decisions as well as analyzing a company’s performance from multiple angles.
Our team of experts prepares the financial statements within the prescribed regulatory framework with precision and accuracy.
Consolidated Financial Statements is an integration of assets and liabilities, income and expenses of the parent company with it’s subsidiary and is presented as a single economic activity.
The consolidation of financial statements requires a company to integrate and combine it’s financial accounting functions together to create consolidated financial statements that shows in standard balance sheet, income statement and cash flow statement reporting.
