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Financial
Reporting

We advise and support organizations in preparing financial statements under the Companies Act 2013 as well preparing consolidated financial statements.

Preparation of Financial Statements As Per Companies Act
Consolidation of Financial Statements

Preparation of Financial Statements As Per Companies Act 2013

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.

Why is it advisable for companies to outsource the preparation of financial statements to experts?

  • Application of professional expertise of the consultant in area of financial reporting and accounting
  • Adherence to applicable professional standards
  • Applying financial reporting and accounting expertise in assisting management in preparation of financial information as per relevant financial reporting framework in accordance with the information provided by the management.

How can Circa Consulting help?

  • We advise clients on how they must organize their financial reporting process to ensure this is in line with the objectives and goals of the organization
  • We advise on improving systems and operational efficiency which will enhance reporting and provide timely and accurate information to stakeholders
  • We support in preparation of financial statements under the regulatory framework (US GAAP, Ind AS, IFRS). This is especially useful for companies having subsidiaries across different geographic location as it facilitates preparation of consolidated financial statements at the group level.
  • We provide support to client team and also conduct training/awareness sessions for their internal teams.

Consolidation of Financial Statements

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.

How can Circa Consulting help?

  • We perform all the steps necessary for preparing consolidated financial statements, validation and performing the necessary consolidated statements.
  • Assist with audit documentation as a part of preparation of consolidated financial statements.
  • Assist with standardized formats, structures and processes for group accounting.
  • We can assist to deal with specific queries based on our experience and expertise.

Our Company

Circa Systems Pvt.Ltd. is a full range business support & consulting company. We are headquartered in Pune with offices in Mumbai, Gurugram and Bengaluru and an international office in France.

Our Services

India Entry Services
Post Entry Services
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Contact Information

  • 202, Tower S4, Phase II, Cyber City, Magarpatta Township, Hadapsar
  • +91 9765856614
  • 9.00 am to 6.30 pm IST Monday - Friday

Location

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