Guides
Financial statements, explained for Indian practices
Practical, ICAI-aligned guides on preparing financial statements — Schedule III, LLP and Non-Corporate formats — written by a practising Chartered Accountant.
Schedule III Balance Sheet Format (Division I)
Every head and sub-head of the Division I balance sheet, how to prepare one, and a quick-reference table.
Read guide →Schedule III Profit and Loss Format (Division I)
Every line of the Division I Statement of Profit and Loss — revenue, expenses, tax and EPS — how to prepare one, and a quick reference.
Read guide →Trial Balance to Financial Statements: a CA workflow
The step-by-step workflow to turn a Trial Balance into a Balance Sheet, P&L, Cash Flow and notes — plus manual vs software.
Read guide →ICAI LLP Financial Statements Format
The LLP Balance Sheet and Statement of Profit and Loss line by line — Partners’ funds, partners’ remuneration, and audit thresholds.
Read guide →ICAI Non-Corporate Entity Financial Statements Format
The Non-Corporate Entity format for proprietorships, firms and trusts — Owners’/Partners’ funds and the MSME vs Large classification.
Read guide →Notes to Financial Statements (Schedule III)
How the notes are ordered — accounting policies, line-item notes, ageing schedules and the 2021 amendment disclosures.
Read guide →Schedule III Financial Ratios: the 11 mandatory ratios
The eleven ratios companies must disclose in Division I notes — formulas, numerators, denominators, and the 25% variance rule.
Read guide →Depreciation under Schedule II & the PPE note
Useful-life depreciation — residual value, SLM vs WDV, component accounting, and the PPE schedule in the notes.
Read guide →Cash Flow Statement (AS-3): the indirect method
Prepare a Cash Flow Statement step by step — operating, investing and financing activities, reconciled to the Balance Sheet.
Read guide →More guides on the LLP format, the ICAI Non-Corporate format, notes and disclosures, and ratios are on the way.