V2I11P28

A Study on Accounting Practices and Financial Statement Analysis at Shivakumara Swamy and Associates

R Abdul Subhaan^1*, Uditya Raj², Dr. Kanchan G. Rajput³

Abstract

This research article provides an in-depth study of accounting practices and financial statement analysis at Shivakumara Swamy and Associates, a reputed mid-sized Chartered Accountancy firm in Bangalore. The objective of the internship was to bridge the gap between academic theory and real-world practice, offering hands-on exposure to a range of professional functions, including bookkeeping, auditing, taxation, and regulatory compliance. Through a descriptive and analytical research approach, the report documents methodologies adopted by the firm for accurate bookkeeping, timely finalization of accounts, use of accounting software (such as Tally ERP and Zoho Books), and adherence to Indian Accounting Standards (Ind-AS). Structured checklists, reconciliations, and voucher verification form the backbone of accuracy and timeliness in the firm’s processes, while ongoing internal audits ensure regulatory compliance. Data was gathered from 48 participants comprising interns and professionals, analysed through quantitative and qualitative methods. Key findings highlight the strategic use of profitability, liquidity, and solvency ratios in client evaluation, a growing adoption of digital tools, and the firm’s integrated approach to compliance and advisory services. Recommendations include strengthening automation, expanding training on accounting standards, enhancing documentation timeliness, and encouraging adoption of advanced analytics and cloud-based platforms.

Keywords:

Accounting Practices, Financial Statement Analysis, Chartered Accountancy Firm, Auditing, Indian Accounting Standards (Ind-AS), Tally ERP, Regulatory Compliance, Digital Transformation.