Financial Statement Format For Non-Corporate Entities
Published 6/2025
Created by Chintan Patel
MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz, 2 Ch
Level: Beginner | Genre: eLearning | Language: English | Duration: 14 Lectures ( 3h 11m ) | Size: 2.41 GB
ICAI Guidance Note for NCEs - Practical Implementation, related Draft Notes and Auditor Comments
What you'll learn
Understand the scope, applicability, and mandatory requirements of the ICAI Guidance Note on Financial Statements for Non-Corporate Entities, effective from 1st
Apply revised presentation and disclosure requirements in Balance Sheet, Profit & Loss, and Notes to Accounts in line with the Guidance Note.
Identify and apply applicable Accounting Standards based on the revised ICAI classification norms and available relaxations/exemptions.
Draft technically correct audit report comments (Form 3CB), Notes to Accounts, and Form 3CD disclosures, including qualified opinions and emphasis of matter par
Address practical issues in compiling gross block, accumulated depreciation, and comparative figures using Excel-based templates.
Implement a checklist-driven approach to ensure full compliance during the transition year (FY 2024-25) for non-corporate audits
Requirements
Basic understanding of financial statements (P&L, Balance Sheet)
Familiarity with accounting and auditing principles
Description
Are you a practicing Chartered Accountant or Accounting professional working with proprietorships, partnerships, LLPs, or other non-corporate entities? Struggling with how to implement the ICAI's new Guidance Note on Financial Statements for NCEs, effective from 1st April 2024?This course is your step-by-step practical guide to ensure full compliance and smooth transition in FY 2024-25, the first year of mandatory implementation. It simplifies technical requirements and provides real-world tools and templates to help you prepare and report financial statements in line with the new format.In this course, you will learn:Balance Sheet and P&L formats - with Excel-based illustrationsPractical drafting of Notes to Accounts, including PPE, MSME dues, and capitalTax Audit reporting: Form 3CB and 3CD clauses with sample wordingHow to handle comparative figures, gross block derivation, and prior period adjustmentsApplicability of Accounting Standards and available relaxations based on MSME classificationDownloadable templates, checklists, and transition notesWhether you're preparing accounts, conducting audits, or leading client implementation, this course gives you the confidence, structure, and templates to get it right - the first time.Enroll now and take control of GN-NCE compliance with ease and clarity.Learn at your pace, download ready-to-use formats, and future-proof your reporting.
Who this course is for
Practicing Chartered Accountants handling tax audits, attest functions, or compilation of financial statements for non-corporate entities
Audit staff and article trainees involved in audit documentation, reporting, or preparation of financial statements
Accountants and finance professionals working in or supporting proprietorships, partnerships, LLPs, or other non-corporate entities
Compliance professionals looking to understand first-year transition requirements for FY 2024-25
Educators and trainers who wish to incorporate this evolving area into their curriculum or coaching programs
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