Bharat’s Treatise on Schedule III (A guide for preparation of Financial Statements) By CA. (Dr.) Alok K. Garg – 5th Edition 2026.

Preparing financial statements that satisfy both statutory auditors and regulatory bodies requires flawless execution of Schedule III of the Companies Act, 2013. Treatise on Schedule III (5th Edition, 2026), published by Bharat Law House, is the ultimate navigational guide for this complex task. Authored by CA. (Dr.) Alok K. Garg—a leading corporate finance executive and ICAI Accounting Standards Board invitee—this book bridges the critical gap between academic accounting standards and the high-pressure reality of corporate controllership.

Mastering the Three Divisions of Schedule III

The manual provides an exhaustive, line-by-line analysis of the presentation and disclosure requirements for every type of corporate entity:

• Division I: Detailed reporting frameworks for companies whose financial statements are required to comply with traditional Accounting Standards (AS).

• Division II: Complex presentation and disclosure requirements for companies migrating to or operating under the Indian Accounting Standards (Ind AS).

• Division III: Specialized, highly regulated reporting formats tailored explicitly for Non-Banking Financial Companies (NBFCs).

Risk Mitigation: NFRA Observations & Non-Compliances

With the National Financial Reporting Authority (NFRA) actively scrutinizing corporate filings, ignorance of disclosure nuances is a massive corporate risk. The 5th Edition heavily emphasizes:

• Commonly Found Non-Compliances: A dedicated chapter dissecting frequent errors made in presentation, rounding off, classification of current/non-current liabilities, and promoter shareholding disclosures.

• NFRA Observations: Direct insights into what the regulator is actively flagging during their audit quality reviews, providing preparers with a crucial checklist to bulletproof their own financial statements.

Who Should Buy This Book?

• CFOs, Financial Controllers & Finance Teams: The ultimate desk reference for drafting annual reports, managing corporate consolidation, and ensuring SEBI LODR compliance.

• Statutory Auditors & CAs in Practice: Essential for conducting audit fieldwork, financial statement reviews, and issuing clean audit reports.

• Company Secretaries: Crucial for aligning financial disclosures with board reporting and corporate governance mandates.

• Professionals in NBFCs: Dedicated guidance on the highly specialized Division III reporting requirements.

About the Author

CA. (Dr.) Alok K. Garg

CA. (Dr.) Alok K. Garg is a highly prominent Indian corporate finance leader, educator, and acclaimed author. Uniquely balancing a demanding C-suite role with extensive academic contributions, he currently serves as the Associate Vice President (AVP) of Finance at IndiGo Airlines (InterGlobe Aviation Ltd.), steering complex financial reporting and corporate controllership.

Over an 18+ year career, he has held core senior roles across top-tier organizations including Indus Towers, HSBC, and IL&FS. A Fellow Member of the ICAI, a qualified Company Secretary (ICSI), and an ACCA (UK) Diploma holder in IFRS, he was awarded an Honorary Doctorate by the American East Coast University, New York. As a Special Invitee to the ICAI Accounting Standards Board and a frequent collaborator with the NFRA, his insights represent the absolute pinnacle of Indian financial reporting expertise.

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