On the roadmap
Ind AS format
financial statements.
LaziLeo today ships Schedule III Division I (Indian GAAP) financial statements — the format applicable to most private limited companies that aren't required to comply with Ind AS.
Schedule III Division II(for companies that are required to prepare Ind AS financial statements) is a separate build and is currently in active design. We're aiming to ship it in a future release.
What changes in the Ind AS version
- Schedule III Division II line items (different BS / P&L structure)
- Statement of Changes in Equity (SOCIE) as a fourth primary statement
- Other Comprehensive Income (OCI) broken out on the P&L
- Full Ind AS disclosure set (Ind AS 1, 2, 7, 12, 16, 19, 20, 21, 23, 24, 33, 36, 37, 38, 108, 115, 116 and more)
- Financial instruments disclosures (Ind AS 107 / 109) where applicable
- First-time-adoption reconciliations (Ind AS 101) for the transition year
Status — Planned
Requirements are being mapped from Ind AS Schedule III and the ICAI Guidance Note. A release timeline will be shared with the waitlist the moment scope is frozen.
In the meantime, Division I companies can use LaziLeo today. Sign up above and mention “Ind AS” in your profile — we'll notify you when the Division II build is ready for beta testing.