Format of FS of partnership firm

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PROPRIETOR
90 Points Posted on 01 September 2022

Dear All, 

ICAI has issued a Technical Guide on preparation of financial statements for non corporate entities and recommended the format for its presentation.

I would like to know whether it is mandatory or recommendatory?

Thanks

Sanjay 

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On 01 September 2022 at 16:37 Report
Replies (12)
Quick Summary
A discussion regarding the format of financial statements for partnership firms, prompted by a new technical guide from ICAI. The consensus is that the guide's format is recommendatory rather than mandatory. Participants debated its applicability and suggested following the recommendations, especially if tax audits are involved.

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CFO- at NHTF
58280 Points Posted on 01 September 2022
Can you share the notification link..

We still use T form of FS for non corporate entities
5 Reply
On 01 September 2022 at 17:32
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PROPRIETOR
90 Points Posted on 01 September 2022

The Technical guide is already published by icai. 

2 Reply
On 01 September 2022 at 17:34
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CFO- at NHTF
58280 Points Posted on 01 September 2022
It's recommended and it's not made mandatory
2 Reply
On 01 September 2022 at 17:39
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Chartered Accountant
86505 Points Posted on 01 September 2022
It's only recommendation, not compulsory to follow. But I suggest to follow.
2 Reply
On 01 September 2022 at 21:52
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CFO- at NHTF
58280 Points Posted on 02 September 2022
You may follow if tax audit is applicable
2 Reply
On 02 September 2022 at 17:27
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Chartered Accountant
86505 Points Posted on 02 September 2022
You already suggest what he has to do
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On 02 September 2022 at 20:51
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CFO- at NHTF
58280 Points Posted on 02 September 2022
You already replied then why this diversion
1 Reply
On 02 September 2022 at 22:40
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Chartered Accountant
86505 Points Posted on 03 September 2022
Reason you better know
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On 03 September 2022 at 08:12
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CFO- at NHTF
58280 Points Posted on 03 September 2022
God knows
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On 03 September 2022 at 09:50
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Chartered Accountant
86505 Points Posted on 03 September 2022
You know it
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On 03 September 2022 at 12:13
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CFO- at NHTF
58280 Points Posted on 03 September 2022
You have many ways to divert the topic .. You feel like it's the website developed by you and others should listen to you
1 Reply
On 03 September 2022 at 12:20
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Chartered Accountant
86505 Points Posted on 03 September 2022
You know what I am saying , otherwise your brother will not message me personally
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On 03 September 2022 at 12:39

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