In the product
Statutory templates
Schedule III formatting and the notes, produced from approved templates.
Schedule III
The format the Companies Act, 2013 prescribes for the financial statements of an Indian company, including the notes.
It fixes the order, the groupings and the disclosures. Two companies with identical economics must still present them the same way, which is the point: comparability.
It is also why statutory reporting is a formatting problem as much as an accounting one. The numbers may be settled weeks before the document is.
Also written: Schedule III format.
Related terms: Ind AS, SEBI LODR, Top-side adjustment.
Written about
Ind AS 118: presenting expenses by function, and the note that comes with it
Present operating expenses by function and Ind AS 118 asks for the nature amounts in one note. Presenting by nature changes that cost, not the choice.
Written about
Ind AS 118 transition: why your FY 2026-27 ledger needs new tags now
Ind AS 118 applies retrospectively, so FY 2026-27 becomes the restated comparative. What your ledger has to carry before that year begins.
Written about
Ind AS 118: what changes in your profit and loss statement, and what doesn't
Ind AS 118 changes no number in your profit. It changes the shape of the statement: five categories, two new subtotals, audited measures.