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Tax Publishers Company Financial Statements And Audit by Amit Baxi Edition 2023


Tax Publishers Company Financial Statements And Audit by Amit Baxi Edition 2023

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Tax Publishers Company Financial Statements And Audit by Amit Baxi Edition 2023

Tax Publishers Company Financial Statements And Audit by Amit Baxi Edition 2023

As the modern Business and Corporate sector of the Country evolves at an unprecedented pace, the importance of accurate, reliable, and transparent financial information cannot be overstated. The cornerstone of transparency, accountability and fiduciary responsibility of a Corporate lies in the realms of Financial Statements and its Audit. Companies Act, 2013 provides a standardized and stringent financial reporting and audit practices for the Corporates incorporated/working in the Country.

This Book titled “Company Financial Statements and Audit,” is a literary compass designed to navigate the multifaceted landscape of Financial Statements and their Audit procedures as mandated by the Companies Act, 2013.

This meticulously crafted Book embarks upon a journey of demystifying the intricacies of preparing, presenting, and auditing Financial Statements in alignment with the legislative requirements of the Companies Act, 2013. Whether you are a seasoned finance professional, a Statutory Auditor, a Secretarial Auditor, a CFO or a diligent business owner, the insights offered within these pages of the Book will equip you to navigate the labyrinthine world of Financial Reporting with confidence.

The Book is divided into four major Parts.

Book 1 titled ‘Accounts of Companies’ is divided into two parts. Part I provides foundational understanding of Books of Account and their pivotal role in shaping accurate financial statements.

Part II deals with the Financial Statements of Companies. It provides a comprehensive exploration of the various financial statements, including their preparation, interpretation, and compliance. It consists of various Chapters which deal with Schedule III to Companies Act, 2013, Balance Sheet, Statement of Profit and Loss, Consolidated Financial Statements, Depreciation and Amortization, Cash Flow Statement, Statement of Changes in Equity, Dividend, Circulation, Filing, Re-opening, and Revision of Financial Statements and Cost Records, etc.

This Part also includes Case Studies and Practical Illustrations relating to Financial Statements.

Book II exclusively deals with the Auditors. Each and every theoretical and procedural aspect related to the Auditors is discussed at length in this part ,viz: Qualifications and Disqualifications of Auditors, their Appointment , Reappointment, Rotation, and Removal . Further Duties, Rights, and Liabilities of Auditor are also discussed. Audit Process and Reporting aspects are also dealt with in this Part.

Book III is dedicated to Internal Audit, Secretarial Audit and Cost Audit explaining their legal and procedural aspects. The Audit processes and Item wise Checklists required for these Audits are also provided herein this Part.

The Last Part IV aptly titled ‘E-Filing and XBRL Filing’ navigates into the world of electronic filing and XBRL Filing of Financial Statements and documents of Corporates.

This book, “Company Financial Statements and Audit,” stands as a beacon of knowledge and guidance in the intricate landscape of financial Reporting and Audit practices under the aegis of the Companies Act, 2013. With the aim of fostering financial transparency, regulatory adherence and corporate excellence, I am hopeful that this comprehensive guide would be your steadfast companion through the complex terrain of Financial Statements, Audits and regulatory compliance.

Suggestions, comments and criticism relating to this Book are welcome for they would be of immense help to us in improving further editions of this Book.

23rd August, 2023 CS. Amit Baxi
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