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of <h1>Schedule III financial statement format and disclosures: balance sheet, P&L, ageing, MSME dues, ratios, fund-use reporting mandated</h1> Prescribes the minimum format, classification and disclosure requirements for preparation of financial statements under Schedule III, including the balance sheet, statement of profit and loss (and, where applicable, statement of changes in equity and consolidated financial statements) for companies following Accounting Standards, Ind AS, and Ind AS for NBFCs. It mandates current/non-current classification rules, note disclosures and cross-referencing, comparative figures, uniform rounding based on total income, and presentation of additional line items where relevant. It requires detailed note disclosures for specified heads (including share capital, borrowings, trade receivables/payables with ageing, MSME dues, contingent liabilities, and specified regulatory information such as title deeds, revaluations, related-party loans, ratios, and certain fund-utilisation disclosures), thereby standardising financial statement presentation and expanding mandatory disclosures.
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