Simple Interest Calculator

Finencial Year 2021-2022

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Determine Risk & Return

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  Registration Process 

Our CAs will review all the documents you submit to lessen the chances of incorrect or misleading information and smooth the process.

Our best CA professionals are here to help you with document requirements and licensing necessities.

The respective professional will move further with your documents to prepare your Balance Sheet Preparation & P&L.

Our CAs will prepare your Balance Sheet & P&L after checking all the related details, assets, and liabilities, according to the reporting date of your company.

It's recommended to wait until one of our experts contacts you to let you know your Balance Sheet Preparation & P&L has been prepared.



The attributes of a balance sheet are Current Assets, Long Term Assets, Current Liabilities, Long Term Liabilities, Shareholders Equity, Account Balance, and Amortization or Depreciation Expenses.
If you find your Balance Sheet is not truly balanced, there might be some ambiguity due to these reasons:
Errors in currency exchange rates
Errors in inventory
Incomplete or misplaced data
Incorrectly entered transactions
Miscalculated equity calculations
Miscalculated loan amortization or depreciation
Inventory, Cash or Cash Equivalents, Accounts Receivable, Short-term Marketable Securities, and other comes under current assets.
Long-term marketable securities, Property, Goodwill, Intangible assets, and others are non-current assets.
The Salaries of people with administrative roles are included as fixed expenses because they are not directly related to revenue. However, it becomes tricky for people in manufacturing roles, as the labor is associated with making a product which is included in the cost of goods sold section once the product is sold.
The Balance Sheet shows the assets, liabilities, and shareholder equity at a given time. In contrast, a P&L statement summarizes a company's revenues, expenses, and costs during a particular period.
No, there's no difference between these two terms. An Income Statement is the same as a Profit & Loss Statement with two terms and vice versa. A Profit & Loss Statement shows a company's total income, revenue generated, and business cost to find the subsequent profit for a specific period.
The year-to-date or profit & loss statement is a company's financial statement referring to the amount of profit an investment made from the current year's first day.
Before preparing the balance sheet, one must create the P&L account first.
The critical components of a profit & loss statement for small businesses are - Costs of Goods Sold, Revenue, Gross Profit, Expenses, and Net Profit or Loss.


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