Financial Accounting Advisory
Annual Financial Statements constitute the General Purpose Financial Report incorporating the financial performance of the reporting entity for the particular accounting year, the financial state of affairs at the end of the accounting year and the movement in cash flows during that period. Apart from statutory compliance, the financial statements are the tool of communication with a large audience including various stakeholders in the reporting entity like shareholders, business partners, lenders, creditors, statutory authorities and prospective investors.
Apart from Annual General Purpose Financial Reporting, the financial statements are customized and reinstated to compile special purpose financial reports for specific stakeholders like financial institution providing project finance or prospective investor like private equity fund or IPO, whereas a more detailed and specific reports are to be compiled for such stakeholders and which are so designed such that they may take an informed financial decision. Such customized financial statements and reports are in full consonance of Audited Statutory Financial Statements and thus aspire full authenticity.
Further the financial statements have to comply with GAAP and Accounting Standards as per the respective territorial jurisdiction and whenever they have to be furnished to the stakeholders of another territorial jurisdiction, they need to be reinstated as per the respective GAAP or Internationally acceptable GAAP, IFRS. Further apart from annual reporting, Interim Financial Statements are also prepared which may be on quarterly or half yearly basis as per the applicable statutory or contractual obligation.
VGNC has an expert team to assist in compilation of financial statements in accordance with the applicable GAAP and statutory disclosure norms, consolidation of Financial Statement of Subsidiary and Associate companies, and different business verticals, segmental reporting and further we provide our professional services wherever the financial statements need to be customized and reinstated for the respective stakeholders as per the need of the business and growth of the reporting entity.