This document is an Exposure Draft of a Guidance Note on the Financial Statements of Limited Liability Partnerships (LLPs), issued by The Institute of Chartered Accountants of India. It provides comprehensive guidance on preparing and presenting financial statements for LLPs, including formats for the Balance Sheet and Statement of Profit and Loss, and details on various accounting standards applicable to LLPs. This note is essential for LLPs, their auditors, and accounting professionals seeking to ensure compliance and accurate financial reporting.