Model Financial Statements concerned with Non-Corporate Entities
With the focus on Non-Corporate Entities and scrutiny thence by numerous regulators, monetary establishments are increasing yearly basis. During this state of affairs in addition to the future, it’s crucial for these Entities to strictly adhere to the varied necessities in law and spirit.
Understanding the necessity for normal audits and accounts during this sector, going back as way as 1985, the Reserve Bank of India had issued a circular recommending audits of accounts of all non-corporate borrowers. At certain times, the first responsibility of maintaining these accounts lies with the Entity, therefore regular change and compliance with numerous provisions of the law are significant. whereas a lot of changes have taken place in terms of laws and principles,
The very fact remains that monetary statements are an essential part of running a corporation making this task easier for all involved in addition as create a list as a vade mecum, WIRC is happy to publish this orientate ‘Model monetary Statements for Non-Corporate Entities’.
Whereas it’s acknowledged that ‘behind each smart businessperson, there’s a good accountant’, this publication could be a real endeavor from WIRC – a part of a seamless series of free e-publications – to altruistically present information to any or all.
This easy guide is going to be of nice use for professionals and students of business in addition to homeowners, directors, and administrators of the Entities and numerous stakeholders of the Entity.
Download ICAI – Model Financial Statements for Non-Corporate Entities