Financial Statement Preparation in Balurghat
CA-managed preparation of your annual financial statements — Balance Sheet, Statement of Profit & Loss, Cash Flow Statement and Notes to Accounts — drawn up as per Companies Act 2013 Schedule III and applicable Accounting Standards (AS/Ind AS). We finalise your trial balance, post adjustments, compute depreciation (Schedule II) and prepare the disclosures needed for ROC filing (AOC-4), bank loans, income-tax and investor reporting. 100% online, with transparent pricing quoted upfront.
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Financial Statement Preparation in Balurghat
RoC Kolkata — Nizam Palace, 2nd MSO Building, 234/4 A.J.C. Bose Road, Kolkata – 700020
Calcutta High Court (Jalpaiguri Circuit Bench)
19 (West Bengal)
West Bengal levies Professional Tax (max ₹2,500/year). Applicable within 30 days of company incorporation.
Agri Mandi, Hili Border Trade, South Dinajpur HQ
Balurghat is a south-Dinajpur agri-trade and Bangladesh-border (Hili) commerce district.
What Is Financial Statement Preparation?
A quick, plain-language explanation before the details.
Financial statement preparation turns your year’s bookkeeping into a formal set of accounts — a Balance Sheet, Profit & Loss statement, Cash Flow statement and Notes — that show your financial position and performance.
Under Section 129 of the Companies Act 2013, every company must prepare financial statements that give a true and fair view, comply with the applicable Accounting Standards notified under Section 133, and follow the form set out in Schedule III.
Governed by the Ministry of Corporate Affairs (MCA) and filed with the Registrar of Companies (ROC). Accounting Standards (AS) and Indian Accounting Standards (Ind AS) are issued under the oversight of ICAI and the NFRA.
Financial statements are prepared for each financial year (1 April to 31 March), approved by the Board and members at the AGM, and filed with the ROC. They remain the company’s statutory record for that year.
Quick Facts
Is This Service Right for You?
Ideal for
- Private limited companies & OPCs finalising annual accounts for ROC
- LLPs preparing their Statement of Account & Solvency
- Businesses applying for bank loans, CC/OD limits or credit facilities
- Companies undergoing statutory audit or tax audit
- Startups reporting to investors, VCs or during due diligence
- Proprietors & partnerships needing formal financials for tax filing
You may need this if
- Your company must file Form AOC-4 with the ROC after the AGM
- Your auditor needs Schedule III financials to complete the audit
- A bank or NBFC has asked for audited/finalised financial statements
- You are raising funds and investors need clean, standard financials
- You are liable to a tax audit under Section 44AB
- Your trial balance needs finalisation with year-end adjustments
Not sure if you need this?
Talk to an Expert →Why Financial Statement Preparation Matters
Accurate, standards-compliant financial statements keep you compliant, unlock finance and give a true picture of your business. Here is why it matters.
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01
Statutory Compliance
Companies must prepare Schedule III financial statements giving a true and fair view under Section 129 and file them with the ROC in Form AOC-4. Correct preparation avoids penalties and filing rejections.
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02
Audit Readiness
A clean, well-disclosed set of statements lets your statutory or tax auditor complete the audit smoothly, without repeated queries or last-minute reworking.
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03
Bank Loans & Credit
Lenders assess your Balance Sheet, P&L and Cash Flow before sanctioning term loans, CC/OD limits or credit facilities. Properly prepared financials strengthen your case.
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04
Investor Reporting
Investors, VCs and acquirers rely on standard, comparable financials during fundraising and due diligence. Schedule III statements build credibility.
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05
Income-Tax & Tax Audit
Finalised financials feed your income-tax return and tax-audit report (Form 3CA/3CB-3CD). Consistent figures reduce mismatch notices and scrutiny risk.
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06
Decision-Making
A true picture of profitability, liquidity and net worth helps you plan, budget and make informed business decisions through the year.
Simple, Transparent Pricing
Custom quote for your case
Fees depend on your business type and scope. Get a clear, itemised quote upfront — no hidden professional charges, government fee billed at actuals.
Who Can Apply?
Eligibility checklist
- A complete, finalised set of books of account for the financial year
- A trial balance tallied and ready for adjustments
- Bank statements, ledgers and reconciliations for the year
- Fixed-asset register for depreciation under Schedule II
- Details of loans, related-party transactions and provisions for disclosures
- The correct framework identified — AS (Division I) or Ind AS (Division II)
Everything You Need. One Professional Team.
Consultation
Understand your entity type, framework (AS/Ind AS) and reporting purpose — ROC, loan, audit or investor.
Trial Balance Finalisation
Review ledgers, reconcile balances and finalise the trial balance from your books of account.
Year-End Adjustments
Post accruals, prepayments, provisions, closing stock and other adjusting entries.
Depreciation (Schedule II)
Compute depreciation on fixed assets using the useful-life basis of Schedule II.
Statement Preparation
Draft the Balance Sheet, Statement of Profit & Loss and Cash Flow Statement in Schedule III format.
Notes & Disclosures
Prepare Notes to Accounts, accounting policies and the disclosures required by the standards.
Review & Reconciliation
Cross-check figures against tax, GST and prior-year data before you sign off.
Filing Support
Provide audit-ready and AOC-4-ready statements, with guidance on ROC filing and next steps.
What You’ll Receive
What Documents Are Required to Prepare Financial Statements?
Requirements are grouped by books, bank records and assets/disclosures. Keep clear scans or exports (Tally/Excel/PDF) ready — everything is collected securely online, and we provide a checklist matched to your entity and framework.
Books & Ledgers
Your accounting records- Trial balance for the financial year
- General ledger / books of account
- Cash book and journal entries
- Sales & purchase registers
- Opening balances / prior-year financials
Bank & Reconciliations
Cash and bank position- Bank statements for the full financial year
- Bank reconciliation statements
- Loan account statements & repayment schedules
- FD / investment statements
- Cash balance confirmation as at year-end
Assets, Tax & Disclosures
For adjustments & notes- Fixed-asset register & purchase invoices
- Depreciation details (Schedule II useful lives)
- GST returns & income-tax details for reconciliation
- Details of loans, provisions & related-party transactions
- Closing stock / inventory valuation
Schedule III format is mandatory
Company financial statements must follow the Schedule III format — Division I for AS, Division II for Ind AS, Division III for NBFCs. We prepare in the division that applies to you.
Books must be finalised first
Statements are only as reliable as the books behind them. If your ledgers are incomplete, we finalise the trial balance and post the year-end adjustments before drafting.
Depreciation follows Schedule II
Depreciation is computed on the useful-life basis of Schedule II, not fixed rates. A correct fixed-asset register avoids errors in the Balance Sheet and P&L.
Reconcile with tax & GST
Figures should tie back to your income-tax and GST records. We reconcile turnover, purchases and tax balances so the financials are consistent across filings.
Don’t have all the documents?
We’ll identify what your case needs →How Financial Statement Preparation Works (Step by Step)
The entire process is 100% online, with your books collected securely and status updates throughout.
Consultation
Understand your entity, applicable framework (AS/Ind AS) and the purpose of the statements.
Records Collection
Collect the trial balance, ledgers, bank statements and asset details securely online.
Finalisation & Adjustments
Finalise the trial balance, post accruals, provisions, closing stock and depreciation (Schedule II).
Statement Drafting
Prepare the Balance Sheet, P&L, Cash Flow and Notes to Accounts in Schedule III format.
Review & Approve
You review the draft financials — corrections and reconciliations are made if any.
Delivery & Filing Support
Deliver audit-ready and AOC-4-ready statements, with guidance on ROC filing and next steps.
How Long Does Financial Statement Preparation Take?
| Stage | Expected Time |
|---|---|
| Consultation & records collection | Day 1–3 |
| Trial balance finalisation & adjustments | Day 3–7 |
| Statement drafting & notes | Day 7–10 |
| Client review, reconciliation & delivery | Day 10–12 |
A typical set of financials is prepared within 7–12 working days once complete books are available. Timelines depend on the state of your books, the number of adjustments and whether AS or Ind AS applies. Backlog or unreconciled accounts may take longer.
Key Dates — At a Glance
| Frequency | What Is Due |
|---|---|
| At the AGM | Board approval of the financial statements · Adoption of accounts by members at the AGM · Auditor’s report attached to the financials |
| ROC Filing | File Form AOC-4 within 30 days of the AGM · File Form MGT-7 / MGT-7A (annual return) · Keep the signed financials in company records |
| Income-Tax | Use financials for the income-tax return · Attach to the tax-audit report where applicable (44AB) · Reconcile with GST turnover for the year |
| Ongoing | Maintain books month-to-month for a smoother year-end · Keep the fixed-asset register updated · Retain records for the statutory period |
Dates are indicative and may change with government notifications. Our team tracks every deadline so you never miss a filing.
Doing It Yourself vs TaxClue
Doing It Yourself
- Work out whether AS or Ind AS applies to your entity
- Recast the trial balance into the Schedule III format yourself
- Post every year-end adjustment (accruals, provisions, closing stock)
- Compute depreciation on the Schedule II useful-life basis
- Draft complete Notes to Accounts and accounting policies
- Reconcile figures with income-tax and GST records
- Risk audit queries, ROC rejection and mismatch notices on errors
With TaxClue
- CA confirms the correct framework (AS / Ind AS)
- Trial balance recast into the correct Schedule III division
- All year-end adjustments posted accurately
- Depreciation computed correctly under Schedule II
- Complete Notes, policies and disclosures prepared
- Figures reconciled with tax and GST before sign-off
- Clean, audit-ready and AOC-4-ready financials with support
Skip the guesswork.
Let an expert handle it →Common Mistakes That Delay Your Application
TaxClue reviews your documents before filing to reduce avoidable errors.
What to Keep in Mind After Preparation
At the AGM
- Board approval of the financial statements
- Adoption of accounts by members at the AGM
- Auditor’s report attached to the financials
ROC Filing
- File Form AOC-4 within 30 days of the AGM
- File Form MGT-7 / MGT-7A (annual return)
- Keep the signed financials in company records
Income-Tax
- Use financials for the income-tax return
- Attach to the tax-audit report where applicable (44AB)
- Reconcile with GST turnover for the year
Ongoing
- Maintain books month-to-month for a smoother year-end
- Keep the fixed-asset register updated
- Retain records for the statutory period
Penalties & Consequences
What is at stake if you do not comply
- Wrong or incomplete financials mislead lenders, investors and the ROC on your true position
- Statements not in Schedule III format risk AOC-4 filing rejection and penalties
- Applying the wrong framework (AS vs Ind AS) or fixed-rate depreciation distorts the accounts
- Figures not reconciled with income-tax and GST records trigger mismatch notices and scrutiny
- Missing year-end adjustments and disclosures leave the audit incomplete
Regulatory Updates 2025–26
- 2025: Books of account must be maintained under Section 128 of the Companies Act 2013 and Section 44AA of the Income-tax Act.
- 2025: A tax audit under Section 44AB applies above ₹1 crore turnover (₹10 crore if cash receipts and payments are within 5%) and ₹75 lakh for professionals.
- 2025: The new Income-tax Act 2025 takes effect from 1 April 2026, affecting book-keeping and reporting requirements.
Why Businesses Choose TaxClue
CA / CS Team
Qualified Chartered Accountants and Company Secretaries with deep accounting-standards expertise prepare your financials.
End-to-End
From trial balance to audit-ready statements — fully managed, with minimal effort from you.
Standards-Compliant
Prepared strictly per Schedule III and the applicable AS / Ind AS, ready for audit and AOC-4.
100% Online
Share your books over WhatsApp / email — no office visits ever required.
Transparent Fees
Fixed pricing quoted upfront — ₹0 hidden professional charges.
One Team
Accounting, ROC, GST and tax handled under one roof for consistent figures across filings.
Your Documents Deserve Professional Care
- Documents handled by professionals under confidentiality
- Access limited to the team working on your file
- Communication over secure digital channels
- Documents retained only as long as needed for compliance
Frequently Asked Questions
What are financial statements under the Companies Act 2013?
What is Schedule III and why does it matter?
Which accounting standards apply — AS or Ind AS?
Do you also file Form AOC-4 with the ROC?
How is depreciation computed in the financial statements?
Can you prepare financials for a bank loan or credit facility?
Are financial statements needed for a tax audit or income-tax return?
My books are incomplete — can you still prepare the statements?
Do LLPs and proprietorships also need financial statements?
What is the Cash Flow Statement and is it always required?
How long does it take to prepare a set of financial statements?
Is the whole process online?
What are the three main financial statements?
How much does financial statement preparation cost?
What is the difference between financial statements and MIS reports?
Do sole proprietors and partnership firms need financial statements?
Which software do you prepare the financial statements in?
Official Sources & Legal References
Every regulatory detail on this page is drawn from primary law and official government sources. Verify them directly:
- MCA — Ministry of Corporate AffairsCompanies Act 2013, Schedule III, forms and ROC filing (incl. AOC-4)
- Companies Act, 2013 — full textSection 129 (financial statements) and Schedule II & III · India Code
- ICAI — Accounting StandardsAccounting Standards (AS) and Indian Accounting Standards (Ind AS)
- NFRA — National Financial Reporting AuthorityOversight of accounting and auditing standards
Related Guides
Financial Statement Preparation Resources — All Free
Get Audit-Ready Financial Statements
Expert-managed preparation of your Balance Sheet, Profit & Loss, Cash Flow and Notes — as per Companies Act 2013 Schedule III and AS/Ind AS, ready for AOC-4, audit, loans and tax. Free consultation, transparent fee quoted upfront, zero hidden charges.