Tag Archives: #FinancialAuditing

Prepares financial statement: Who prepares the financial statements ?

Prepares financial statement

Prepares financial statement The financial statements are typically prepared by the company’s accounting and finance department or by professional accountants and auditors. These individuals have the knowledge and expertise to accurately compile and analyze financial data in accordance with accounting principles and standards. It is mandatory to Prepares financial statement.  In smaller businesses, the financial… Read More »

How to prepare financials of a company?

Process of completing financial statements

Preparing the financials of a company    Preparing the financials of a company involves several steps. Here is a general outline of the process: 1.Collect and Organize Financial Data: Gather all relevant financial information, such as transaction records, bank statements, invoices, receipts, and other supporting documents. Ensure that the data is accurate, complete, and organized… Read More »

When LLP is required to audit ?

LLP is incorporated

When LLP is required to audit     The requirement for LLPs to undergo an audit varies based on the jurisdiction and the specific regulations in place. Here are some general guidelines regarding when an LLP may be required to undergo an audit:  Size Criteria: In many jurisdictions, LLPs are required to undergo an audit… Read More »

Why TDS certificate required?

TDS Certificate Required TDS certificate required, TDS (Tax Deducted at Source) certificates are vital for providing conclusive proof of tax deduction at the source and play a critical role in enabling various procedures associated with income tax compliance.   The following are key reasons highlighting the importance of TDS certificates: Proof of Tax Deduction: TDS certificates… Read More »