Recently in June 2022 Institute of Chartered Accountants of India (ICAI) issue technical guide on financial statements of Non Corporate Entity with the aim that this Technical Guide would bring consistency and comparability in the presentation and disclosure of financial information reported by the noncorporate entities and would be of immense use to professionals and other stakeholders.

This course will help to prepare the financial statements of Non Corporate Entities like Sole Proprietor, Partnership Firm, AOP, BOI & Trust. ICAI encourage Chartered Accountants and professionals to prepare financial statement as per this technical guidance to ensure the consistency and comparability.

Course Content
– Background
– Applicability
– Financial Statements
– Balance Sheet as per New Format
– PnL as per New Format
– Cash Flow Statements
– Formats of Financial Statements for Non-corporate Entities
– Notes to Account for Non Corporate Entities
– Practical Case Studies
– Deferred Tax Calculation
– Provision for Income Tax Calculation
– Depreciation Schedule & Calculation
– Automated Excel Format