Financial Statements & MIS in
Mumbai City

IMAK Advisory is an ICAI-registered firm of chartered accountants in Whitefield, Bengaluru, preparing financial statements and monthly MIS for companies, LLPs, firms, startups, trusts and proprietors across India. We complete year-end adjustments, map ledgers to the Schedule III format, draft the notes and disclosures, prepare the cash flow statement, support the statutory audit and set up a monthly reporting pack that reconciles with the books.

For companies, financial statements include the balance sheet, profit and loss statement, cash flow statement, statement of changes in equity where Ind AS applies, and notes. They are approved by the board, audited, presented at the annual general meeting and filed in Form AOC-4 within 30 days of it. LLPs file a Statement of Account and Solvency in Form 8 by 30 October. Since 2021-22, Schedule III also requires promoter shareholding, ageing schedules, analytical ratios and other disclosures.

Financial statement analysis turns these reports into decisions. Trend and common-size analysis show how the business is changing; ratios such as current ratio, debt-equity, debt service coverage, return on capital employed and receivable days measure liquidity, solvency and efficiency; and the cash flow statement shows whether profit is turning into cash. We always read the notes first, because one-off items and related-party transactions can distort every ratio.

Business valuation using financial statements starts from the historical balance sheet and profit and loss, normalised for owners' salaries, related-party rent, one-time costs and surplus assets, and then applies net asset value, earnings multiples or discounted cash flow. Where the law requires a registered valuer, the valuation is done by one.

In bank lending, the CMA full form in balance sheet analysis is Credit Monitoring Arrangement – the forms that present past and projected statements to a bank. CMA is also the designation of a Cost and Management Accountant. CMA data must agree with the audited accounts and with the monthly stock statements given to the bank.

Monthly MIS should be short, arrive on a fixed date, compare results with budget and last year, track cash and receivables, and reconcile with the year-end accounts. When the monthly close follows the same accrual basis as the year-end, owners, lenders and investors see one consistent set of numbers.

Year-end work goes faster when the groundwork is done during the year: bank, GST and TDS reconciliations each month, related parties listed, bank stock statements matched with the books, property papers and borrowing documents filed, and actuarial valuations ordered early. Businesses that close their books monthly usually finish audited statements weeks earlier, which helps with bank renewals, investor updates and registrar deadlines.

We do not act as your statutory auditor where independence rules prohibit it, and we do not change figures to meet a covenant or valuation target. We do not publish fees; our team shares the exact total after reviewing your requirements. Visit us at ITPL Main Rd, Pattandur Agrahara, Whitefield, Bengaluru, Karnataka 560066, call or WhatsApp +91 79798 50684, or email imakadvisoryteam@gmail.com, and the IMAK Advisory team will review your books and plan your year-end and monthly reporting.