Financial Statements of Non-Corporate Entities

This book delves into aspects of financial statements, statutory audits, and compliance procedures, which may be beneficial for understanding the financial reporting requirements of various entities. The guide provides formats and illustrative examples tailored for proprietorships, partnerships, and other non-corporate entities, aiming to standardize and simplify their financial reporting processes.

Key Features:

• Formats of financial statement
• Applicability of accounting standards as per revised criteria
• Reporting for non-compliance by client
• Guidance note by ICAI

Division 1 Accounting Standards
Chapter 1 Accounting Standards for Non-Corporate Entities
Chapter 2 Gist of Accounting Standards and Exemptions Thereunder
Division 2 Financial Statements of Sole-Proprietorship
Chapter 3 Basic Features of Financial Statements of Sole Proprietorship Concerns
Chapter 4 Specimen Financial Statements for Sole Proprietorship Concern
Chapter 5 Specimen notes to the financial statements regarding significant accounting policies for Sole Proprietorship Concern
Division 3 Financial Statements of Partnership Firms
Chapter 6 Basic Features of Financial Statements of Partnership Firms
Chapter 7 Specimen Financial Statements for Partnership Firm
Chapter 8 Specimen Notes to the Financial Statements Regarding Significant Accounting Policies for Partnership Firms
Division 4 Financial Statements of HUF
Chapter 9 Basic Features of Financial Statements of Hindu Undivided Family (HUF)
Chapter 10 Specimen Financial Statements for Hindu Undivided Family (HUF)
Chapter 11 Specimen Notes to the Financial Statements Regarding Significant Accounting Policies for HUF
Division 5 Financial Statements of NPOs
Chapter 12 Basic Features of Financial Statements of Non-Profit Organisations (NPOs)
Chapter 13 Specimen Financial Statements for Non-Profit Organisations (NPOs)
Chapter 14 Specimen Notes to the Financial Statements Regarding Significant Accounting Policies for NPOs
Division 6 Accounting Standards Disclosure Checklist
Chapter 15 Checklists of Accounting Standards
Chapter 16 Commonly Observed AS Based Non-Compliances in Financial Statements to be Watchful for
Division 7 Miscellaneous
Chapter 17 Accounting Treatment for MAT Credit
Chapter 18 Expenditure Incurred During Construction Period
Chapter 19 Cash Flow Statement
Chapter 20 Construction Contracts
Chapter 21 Reporting under MSMED Act, 2006