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<h1>Schedule III of Companies Act, 2013 mandates detailed financial statement guidelines, including disclosures and compliance with Accounting Standards Rules.</h1> Schedule III of the Companies Act, 2013 provides detailed guidelines for preparing financial statements, including the balance sheet and statement of profit and loss. Companies must comply with the Companies (Accounting Standards) Rules, 2006, ensuring any required changes in treatment or disclosure are made. The additional disclosure requirements beyond the Accounting Standards, specifying that information should be included in notes to accounts. Financial statements must present current and non-current classifications for assets and liabilities, ensure consistency in measurement units, and include comparative figures for the previous reporting period. Companies must also disclose information on share capital, reserves, borrowings, and contingent liabilities, among other financial details.