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Financial Statement Preparation Services in India

Reviewed by CA and CS Team, Patron Accounting LLP ICAI & ICSI Registered| 15+ Years Experience| Last Updated: 2 June 2026 Verify Credentials →

Deliverables: balance sheet, profit and loss, cash flow, and notes to accounts.

Fees: starting from INR 9,999 per set (Exl GST and Govt. Charges).

Format: Schedule III of the Companies Act 2013, AS or Ind AS as applicable.

Use cases: annual filing, ITR, statutory audit, loans, and funding due diligence.

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Patron Accounting gives the best service related to all account handling of our firm. I am blessed and extremely happy that Patron Accounting assigned Anu to take care of our company's needs. She files all returns timely and is most kind and respectful towards us.
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I've had an outstanding experience working with Patron Accounting. Their professionalism, attention to detail, and timely communication made the entire process smooth and stress-free. Highly recommended for anyone seeking reliable and knowledgeable financial guidance!
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I'm glad that I was able to connect with Patron. They took the minimum time to do the calculations based on the details provided by me and were really impressed by their acumen. And it's not expensive at all. Good guidance while filling was given as well.
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I got financial services from them for my private limited company. They are having good and qualified staff to provide services in a professional manner which is beneficial for me.
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Talk to our financial reporting team about a Schedule III set of balance sheet, profit and loss, cash flow, and notes, ready for audit and filing.

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What This Service Covers: A Quick Overview

📌 TL;DR - Financial Statement Preparation Services at a Glance

Financial statement preparation produces your year-end balance sheet, profit and loss, and cash flow with notes, in Schedule III format under the Companies Act 2013. It supports tax filing, audit, and funding, and starts from INR 9,999 per set.

ParameterDetail
Governing ActSection 129, Companies Act 2013
FormatSchedule III (AS or Ind AS as applicable)
ComponentsBalance sheet, P and L, cash flow, notes
Applicable toCompanies, LLPs, and businesses needing financials
CostFrom INR 9,999 per set (Exl GST)
Used forAnnual filing, ITR, audit, loans, due diligence

Financial statement preparation services turn your books into a true and fair, compliance-ready set of accounts. Patron Accounting has supported over 10,000 businesses across India and prepares financials on Tally, Zoho Books, QuickBooks, and Xero.

We prepare your balance sheet, profit and loss, and cash flow in Schedule III format, ready for tax filing, audit, lenders, and investors.

Content is reviewed quarterly for accuracy.

What Are Financial Statements?

Financial statements are the formal records of a business's financial position and performance, defined under Section 2(40) of the Companies Act 2013. They comprise the balance sheet, statement of profit and loss, cash flow statement, statement of changes in equity where applicable, and notes.

Under Section 129, every company must prepare financial statements that give a true and fair view, comply with the accounting standards notified under Section 133, and follow the format set out in Schedule III. The same components are prepared for LLPs and other businesses for tax and reporting purposes.

Key Terms for Financial Statement Preparation:

  • Balance sheet: the statement of financial position on a given date, in vertical format.
  • Statement of profit and loss: financial performance over the period.
  • Cash flow statement: cash movement, prepared under AS 3 or Ind AS 7.
  • Notes to accounts: mandatory disclosures that explain each line item.
APL-05 Financial Statement Preparation
From INR 9,999/set Schedule III Format

Who Needs Financial Statement Preparation?

Every company must prepare and present financial statements at its annual general meeting, and most businesses need them for tax and finance purposes.

  • Private limited companies and LLPs for annual filing and audit.
  • Proprietorships and partnerships for income tax returns and loans.
  • Startups preparing investor-ready financials for due diligence.
  • Businesses applying for bank loans or tenders requiring financials.

Consolidation note: under Section 129(3), a company with subsidiaries, associates, or joint ventures must also prepare consolidated financial statements and lay them before the annual general meeting.

Our Financial Statement Services

ServiceWhat We Do
Balance sheet preparationVertical-format statement of financial position under Schedule III.
Profit and loss preparationRevenue, expenses by nature, and profit for the period.
Cash flow statementOperating, investing, and financing flows under AS 3 or Ind AS 7.
Notes and disclosuresNote numbering, accounting policies, and required disclosures.
Schedule of changes in equityPrepared where Ind AS applies.
Audit and filing supportA clean set ready for statutory audit and ROC or tax filing.
Our Process

The 5-Step Preparation Process

A clear, repeatable process that reviews your books, passes closing entries, maps to Schedule III, builds the statements, and reviews them for a true and fair view.

Step 1

Review the books

We examine your trial balance and ledgers for completeness and accuracy before preparation.

TB examined Ledgers checked
Books Reviewed 01
Step 2

Pass closing entries

We record depreciation, accruals, provisions, and reclassifications to close the year.

Depreciation Provisions
Closing Entries 02
Step 3

Map to Schedule III

We group balances into the prescribed heads and sub-heads with note references.

Schedule III heads Note references
Mapped 03
Step 4

Build the statements

We prepare the balance sheet, profit and loss, cash flow, and notes to accounts.

BS, P and L Cash flow, notes
Statements Built 04
Step 5

Review and finalise

A qualified reviewer checks for a true and fair view before handover.

Reviewed True and fair
Finalised 05

What We Need to Start

  • Trial balance and ledgers for the financial year.
  • Bank statements and reconciliation for all accounts.
  • Fixed asset register and depreciation details.
  • Loan, GST, and TDS records for disclosures.
  • Prior year financial statements, if available.

Ask us for a free financial statement preparation checklist before kickoff.

What you receive: a Schedule III balance sheet with comparative figures; a statement of profit and loss with expense classification; a cash flow statement (where applicable) and notes to accounts; and a finalised, true-and-fair set ready for audit and filing.

Common Challenges and How We Solve Them

ChallengeImpactHow Patron Accounting Solves It
Books not closed or reconciledInaccurate, unreliable statementsComplete closing entries and reconciliations first
Wrong Schedule III classificationMisstated heads, audit queriesMap every balance to the correct head and sub-head
Missing notes and disclosuresNon-compliant, incomplete setGenerate complete notes and accounting policies
Audit queries on financialsDelayed sign-off and filingDeliver a reviewed, true-and-fair set ready for audit

Financial Statement Preparation Fees in 2026

Fee ComponentAmount
Patron Accounting Professional FeesStarting from INR 9,999 per set (Exl GST and Govt. Charges)
Market band, standalone unaudited (context)Rs 8,000 to Rs 20,000 per set
Ind AS or consolidated financialsCustom, quoted on scope after a free assessment

All fees and charges listed are indicative only and do not constitute a binding offer. Final amounts may vary depending on the volume of work and the complexity involved.

Professional service charges for drafting, filing, and representation are separate from the statutory fees. The exact fee depends on the complexity of the case, disputed amount, and number of hearings required. Contact us for a detailed quote.

Get a free Financial Statement Preparation consultation - Call +91 945 945 6700 or WhatsApp us. No-obligation assessment.

How Long It Takes

StageEstimated Timeline
Standard standalone setAbout 3 to 5 business days once books are closed and records shared
Unreconciled booksLonger, with additional review before preparation
Ind AS or consolidated statementsExtended, given the additional disclosures required

Once books are closed and records are shared, a standard standalone set is typically prepared within three to five business days. Timelines extend for unreconciled books, Ind AS, or consolidated statements, where additional review and disclosures are required.

Key Benefits

Benefits of Professional Preparation

Schedule III-compliant

A true and fair set that withstands audit and meets the format.

Faster audit and filing

Smoother statutory audit and ROC or tax filing.

Investor and lender-ready

Financials that hold up for funding and credit decisions.

Correct classification

Right heads and complete notes that avoid queries.

Why Businesses Trust Patron Accounting

10,000+ Businesses | 4.9 Google Rating | 50,000+ Documents Processed | 15+ Years

"Patron Accounting gives the best service related to all account handling of our firm. She files all returns timely and is most kind and respectful towards us." - Nikhil Nimbhorkar, Google Review

"I've had an outstanding experience working with Patron Accounting. Their professionalism, attention to detail, and timely communication made the entire process smooth and stress-free." - Subhendu Mishra, Google Review

Outcome proof: a startup preparing for a funding round received a clean, Schedule III set with full notes that cleared investor due diligence without rework.

With offices in Pune, Mumbai, Delhi, and Gurugram, Patron Accounting serves businesses across India - both in-person and remotely.

In-House vs Professional Preparation

FactorIn-House / DIYPatron Preparation
Schedule III accuracyClassification errors commonMapped correctly to heads and notes
Notes and disclosuresOften incompleteComplete policies and disclosures
Audit readinessTriggers queriesReviewed, true-and-fair, audit-ready
Time and effortSlow, manualFast, fixed-fee, hands-off

Related Services

Financial statement preparation pairs with these closely related services:

Legal and Compliance Framework

Financial statements are governed by Section 129 of the Companies Act 2013, which requires a true and fair view, compliance with the accounting standards notified under Section 133, and the format prescribed in Schedule III.

Schedule III has three divisions: Division I for companies following Accounting Standards, Division II for companies following Indian Accounting Standards (Ind AS), and Division III for NBFCs under Ind AS. The balance sheet uses a vertical format, the cash flow statement follows AS 3 or Ind AS 7 where applicable, and notes to accounts are a mandatory part of the statements. Under Section 129(3), companies with subsidiaries must also prepare consolidated financial statements.

For official guidance on these provisions and Schedule III, refer to the Ministry of Corporate Affairs (mca.gov.in).

Frequently Asked Questions

Real questions businesses ask about financial statements, Schedule III, components, audited vs unaudited, Ind AS, and fees.

What are financial statements under the Companies Act?

Financial statements are defined under Section 2(40) of the Companies Act 2013 and comprise the balance sheet, statement of profit and loss, cash flow statement, statement of changes in equity where applicable, and notes. Under Section 129, they must give a true and fair view and follow Schedule III format and the accounting standards notified under Section 133.

What is Schedule III of the Companies Act 2013?

Schedule III prescribes the format and disclosure requirements for company financial statements. It has three divisions: Division I for Accounting Standards, Division II for Indian Accounting Standards, and Division III for NBFCs under Ind AS. The balance sheet is presented in vertical format with mandatory note references and comparative figures.

What are the components of financial statements?

A complete set includes the balance sheet showing financial position, the statement of profit and loss showing performance, the cash flow statement showing cash movement, the statement of changes in equity where Ind AS applies, and notes to accounts that explain each line item. Notes are a mandatory part of the statements, not supplementary.

How much does financial statement preparation cost in India?

Patron Accounting financial statement preparation starts from INR 9,999 per set (Exl GST and Govt. Charges). Across the India market, standalone unaudited financials typically range from Rs 8,000 to Rs 20,000 per set depending on entity type, volume, and framework. Ind AS or consolidated statements are quoted after a free assessment.

What is the difference between audited and unaudited financials?

Unaudited financial statements are prepared from your books and present a true and fair view, but they are not independently verified by an auditor. Audited financials are examined and certified by a chartered accountant. We prepare the statements; where a statutory or tax audit is required, our audit team can then review and certify them.

Who must prepare financial statements?

Every company registered under the Companies Act must prepare financial statements and lay them before its annual general meeting. LLPs, proprietorships, and partnerships also prepare financials for income tax returns, loans, and reporting. Businesses with subsidiaries must additionally prepare consolidated financial statements under Section 129(3).

Do you prepare financials under Ind AS?

Yes. We prepare financial statements under both Accounting Standards (Schedule III Division I) and Indian Accounting Standards (Division II), including the statement of changes in equity and the additional disclosures Ind AS requires. We confirm the applicable framework before we begin.

Can you work with our existing accounting software?

Yes. We prepare financials from data in Tally, Zoho Books, QuickBooks, and Xero, or from your trial balance and ledger extracts. Once books are closed and records are shared, a standard standalone set is usually ready within three to five business days.

Company ke financials kaise taiyar karein filing ke liye?

Aap apna trial balance, ledgers, aur bank statements share kijiye. Hum closing entries pass karke, Schedule III format mein balance sheet, profit and loss, cash flow, aur notes taiyar karte hain, jo audit aur filing ke liye ready hota hai. Free scoping call ke liye sampark kijiye.

Quick Answers

  • Starting price? INR 9,999 per set (Exl GST).
  • Format? Schedule III, Companies Act 2013.
  • Components? Balance sheet, P and L, cash flow, notes.
  • Governing section? Section 129, true and fair view.
  • Software? Tally, Zoho Books, QuickBooks, Xero.

Why Acting Now Matters

Financial statements feed your statutory audit, ROC annual filing, and income tax return, all of which run on fixed deadlines. Late or incorrectly classified financials delay audit sign-off and filing, and can stall loan or funding decisions. Preparing a clean, Schedule III-compliant set early keeps every downstream deadline on track.

Get a free, no-obligation quote. Call +91 945 945 6700 or WhatsApp our team today.

Get a Clean, Compliant Set of Financials

Financial statements are the foundation of audit, filing, and funding. Patron Accounting prepares your balance sheet, profit and loss, cash flow, and notes in Schedule III format, reviewed for a true and fair view.

The result is a compliant, audit-ready set you can rely on for every purpose. Call +91 945 945 6700, WhatsApp us, or request a free consultation.

Book a Free Consultation - No Obligation.

Financial Statement Preparation Near You

On-the-ground support in major cities, plus remote preparation across India.

Content Created: 2 June 2026  |  Last Updated: 2 June 2026  |  Next Review: 2 December 2026  |  Reviewed By: CA & CS Team, Patron Accounting LLP

This page is reviewed every six months for accuracy on company-law and Schedule III details (Freshness Tier 2).

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