Financial Statement Preparation in Ranchi
Get a complete set of financial statements, prepared to the right standard. We take care of the balance sheet, profit and loss, notes and schedules, ready for audit and filing.
A full set of statements, not just a balance sheet
Financial statements give a complete picture of your business for a year. For a company they typically include the balance sheet, the statement of profit and loss, a cash flow statement where required, notes and schedules, and the accounting policies. These are presented to auditors, shareholders, the ROC, banks and tax authorities.
Companies must prepare them in the format of Schedule III to the Companies Act, 2013, under the applicable accounting standards. We prepare the full set from your books, check consistency, and coordinate with your auditor. We also prepare statements for LLPs, firms and proprietors in the format suited to their needs.
Who should use this service
- Private and public companies, which must prepare financial statements every year
- LLPs preparing statements of account and solvency
- Partnership firms and proprietors needing statements for tax and audit
- Businesses applying for large bank loans or investor funding
- Section 8 companies, trusts and societies preparing statements for exemption and audit
Why get it done by experts
Complete set
Balance sheet, profit and loss, notes and schedules.
Correct format
Schedule III and applicable standards followed.
Audit and filing ready
Prepared to go to the auditor and the ROC.
Consistent numbers
Cross-checked with books, GST and tax data.
Keep these ready
Scanned copies are enough to begin. We tell you if anything else is needed for your case.
Accounting records
- Books of account, or Tally data, for the year
- Bank statements, loan statements and confirmations
- Fixed asset register and depreciation details
- Stock and inventory details
Other details
- Debtors and creditors lists with ageing
- Details of related-party transactions
- Share capital and director details, for companies
- Previous year’s audited financial statements
How Around Tax works for you
Free consultation
We understand your business and requirements.
Review the books
We check balances and make adjusting entries.
Prepare the statements
We prepare the full set with notes and schedules.
Coordinate with the auditor
We support the audit and respond to queries.
Finalise
We finalise the statements for approval, filing and sharing.
What happens after
These are the usual follow-up steps. We can handle them for you.
- Get the statements audited, where required
- Approve the statements by the board and hold the AGM, for companies
- File AOC-4 and other forms with the ROC
- Use the statements for your income tax return
- Share them with banks, investors and tax authorities
- Keep copies for the period required by law
Common questions
What is included in a set of financial statements?
For companies, the balance sheet, statement of profit and loss, a cash flow statement where required, statement of changes in equity where applicable, notes and accounting policies.
Which format do companies follow?
Schedule III to the Companies Act, 2013, under the applicable accounting standards. Larger and listed companies follow Ind AS, and most others follow the Accounting Standards.
Do all companies need a cash flow statement?
Small companies, one person companies and dormant companies are generally exempt. We confirm what applies to your company.
Is an audit mandatory?
For companies, yes. For other entities it depends on the law and the limits. We guide you on what applies.
How soon after year-end can the statements be ready?
It depends on how complete the books are. Prepared books can allow statements within a few weeks, but we agree a timeline with you.
This page is general guidance as we understand current law and accounting practice. Legal requirements, thresholds, formats and software features change, so we confirm the latest position for your business before we begin.
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