A PRACTICAL GUIDE TO CONSOLIDATED FINANCIAL STATEMENTS UNDER COMPANIES ACT, 2013

The recently introduced Companies Act, 2013 has been rightly termed as the dawn of a new area. Apart from bringing far reaching changes in other areas, the spectrum of financial reporting has widened and brings higher responsibilities on those associated with financial reporting , be it the auditors or the management. A Practical Guide to Consolidated Financial Statements under Companies Act, 2013 is the second publication in our series on Financial Reporting which aims at explaining the requirements relating to consolidation of financial statements in a simple language with real life examples. Features of the book: *Concept of mandatory consolidation of financial statements even for unlisted companies under the Companies Act, 2013 *Additional requirements to be complied with while presenting consolidated financial statements *Consolidation principles under AS 21, 23 & 27 *Detailed disclosure checklist for consolidation *Guidance on Practical issues in consolidation *Illustrative consolidated financial statements *Discussion on duties of auditors in relation to consolidated financial statements *Discussion on Responsibilities of directors for consolidated financial statements *Detailed requirements relating to Balance Sheet and Statement of Profit and Loss *Practical guidance for implementing Schedule III *Text of Schedule III to Companies Act, 2013, clause 32 and other relevant provisions of the Companies Act, 2013 *Formats of standalone and consolidated financial statements (along with key highlights) under the Companies Act, 2013 *Glossary of relevant terms defined in Schedule III and Accounting Standards under the Companies (Accounting Standards) Rules, 2006