Financial Statement

 Includes: a) Balance Sheet b) Profit and Loss Account/Income and Expenditure Account c) Cash Flow Statement – NA to OPC/Small Company/Dormant Company

d) Statement of changes in equity, if applicable; and e) Explanatory note annexed to/forming part of, any of above

 Signed by – Chairperson if authorized or  Two directors, one MD if any and  CEO, if he is director  CFO & CS, wherever appointed or  In case of OPC - only by one director

 FS shall give a true and fair view of state of affairs  comply with Accounting Standards notified under section 133 and shall be as per Schedule III: Provided: AS specified under Companies Act, 1956 shall be deemed to be AS until AS specified by CG  Above N.A. to Insurance/banking company/company engaged in generation/supply of electricity/any other class of company 

 At every AGM, Board of Directors shall lay before such meeting FS for the FY  If company has one/ more subsidiaries, in addition to its FS, consolidated financial statement and also be laid before AGM along with laying of its FS  Attach along with its FS, a separate statement containing salient features of FS of its subsidiary/subsidiaries in Form AOC-1.

 “Subsidiary” shall include associate company and joint venture  21 days before AGM - FS and any notes forming part of such FS, auditor’s report and Board’s report – shall sent to every member & other persons so entitled

 All listed companies and  Public companies - net worth of more than Rs. 1Cr and turnover of more than Rs. 10 Cr, the financial statements may be sent-

 By electronic mode if shares are in dematerialized format and Ids registered with Depository  Share otherwise than dematerialized format, to such members who have positively consented in writing for receiving by electronic mode; and  By dispatch of physical copies through mode of delivery as specified under section 20 of the Act, in all other cases.

 FS with Form AOC-4 within 30 days of date of AGM  If OPC within 180 days - i.e. 26 th Sept

 Class of companies as may be notified by Central Government from time to time, shall mandatorily file their financial statement in Extensible Business Reporting Language (XBRL) format and the Central Government may specify the manner of such filing under such notification for such class of companies.

 Period ending on 31 st March every year  If incorporated on/after 1 st January of a year, period ending on 31 st March following year If application by company which is holding/subsidiary of foreign company and required to follow a different FY for consolidation of its accounts outside India, Tribunal may, allow any period as its FY, whether or not that period is a year:  Existing Co’s - within 2 years from commencement, align its FY