Companies Act 2013 is associate Act of the Parliament of India that regulates incorporation of a corporation, responsibilities of a corporation, directors, and dissolution of a corporation. The 2013 Act is split into twenty nine chapters containing 470 sections as against 658 Sections within the Companies Act, 1956 and has seven schedules. The Act has replaced the businesses Act, 1956 (in a partial manner) when receiving the assent of the President of India on August 29, 2013. The Act came into force on September 12, 2013 with few changes like earlier personal companies most range of member was fifty and currently it'll be two hundred. A brand new term of "one person company" is enclosed during this act that may be a personal company and with solely ninety eight provisions of the Act notified. This paper focused on the new act enclosed in company Act 2013 and comparison of each of the acts.

KEYWORDS:  Companies Act (Accounts and Audit), Financial Statement, Company Law, Ind AS.