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of <h1>Schedule III financial statement rules: mandated presentation, detailed notes and sectorspecific disclosure requirements for companies and NBFCs</h1> Schedule III prescribes standard format and minimum disclosure requirements for company financial statements and notes, separately for entities following Accounting Standards and Ind AS, and for NBFCs. It mandates classification of assets/liabilities as current or noncurrent, comparative figures, rounding conventions, detailed notes on share capital, reserves, borrowings, trade payables/receivables (including ageing and MSME disclosures), property, plant and equipment and intangible reconciliations, relatedparty loans, utilisation of borrowed funds/share premium, contingent liabilities, ratios and consolidation disclosure. The Schedule operates as mandatory presentation and notedisclosure rules to ensure consistent, material and regulatorily responsive financial reporting.
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