Companies financial statements must follow Schedule III: standardised presentation, detailed notes, related party and sector specific disclosures. Schedule III sets minimum presentation and disclosure standards for company financial statements under the Companies Act, 2013, including classification of current/non current assets and liabilities, prescribed line items for balance sheet and profit and loss, mandatory notes with reconciliations, ageing and sub classifications, related party and promoter loan disclosures, MSME ageing for payables, revaluation and valuer disclosures, utilisation of borrowed funds via intermediaries, wilful defaulter and benami property reporting, ratio disclosures with explanations, and additional consolidated and NBFC specific requirements.
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Companies financial statements must follow Schedule III: standardised presentation, detailed notes, related party and sector specific disclosures.
Schedule III sets minimum presentation and disclosure standards for company financial statements under the Companies Act, 2013, including classification of current/non current assets and liabilities, prescribed line items for balance sheet and profit and loss, mandatory notes with reconciliations, ageing and sub classifications, related party and promoter loan disclosures, MSME ageing for payables, revaluation and valuer disclosures, utilisation of borrowed funds via intermediaries, wilful defaulter and benami property reporting, ratio disclosures with explanations, and additional consolidated and NBFC specific requirements.
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