Schedule III format

Question

Schedule III format

Accepted Answer

Schedule III format refers to the format prescribed for financial statements under the Companies Act, 2013.

Schedule III format is applicable for the preparation of financial statements of companies in India.
It provides a standardized structure and presentation for financial information.
The format includes various sections such as balance sheet, profit and loss account, cash flow statement, and notes to accounts.
It specifies the minimum requirements for the content and presentation of financial statements.
Companies are required to comply with Schedule III while preparing their financial statements.
For example, Schedule III prescribes the format for presenting fixed assets, investments, inventories, and other financial statement items.

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