The government requires every company to lawfully comply with its responsibilities including accounting, bookkeeping and maintaining tax statutory requirements. Failure to do so may result in fines and penalties as mandated by law. And for some companies, outsourcing accounting and bookkeeping services in Singapore is the go-to. Employing such [...]
In Singapore, registering a business is made easy through ACRA’s (Accounting and Corporate Regulatory Authority) online system. However, a local company has to meet numerous requirements to avoid incurring fines and penalties, as imposed by the law. And, to ensure that a company meets its compliance and reporting requirements, [...]
With constantly evolving tax laws and the increasing complexity of managing your business or personal investments, it becomes important to partner with the right accounting firm in Singapore to ensure that you keep up with your financial goals. The burgeoning financial sector in the city-state has made it difficult [...]
While a lot of audit firms in Singapore provide the same types of services at their core, the qualifications, reputation and experience of various companies can set top firms apart. In this article, we are going to explore some of the audit and assurance services typically provided by top [...]
A cash book is a financial journal that contains all cash receipt inflows and payment outflows. Cash receipts include sales receipts from customers and interest income receipt. Outflows, on the other hand, include payments to suppliers and bank loan interest repayments. A cash book is a subsidiary to the [...]
Years prior to the launch of BizFile, Singapore’s business registration process was a tedious work. Individuals who want to establish a company are required to go to the Registry of Companies and Businesses to fill out a form. To address this inconvenience, ACRA introduced BizFile in 2004. It is [...]
Singapore has a business-friendly environment, making it easy for individuals to register their company. The whole registration process can be completed in a day, given all the requirements are duly submitted. This article lists the important things you need to keep in mind that will help you start your [...]
According to the Companies Act of Singapore, all businesses must be registered with the Accounting and Corporate Regulatory Authority (ACRA). One of the types of businesses in the city-state is called a private limited company. It is a kind of incorporated company with a separate legal identity. Because of [...]
Of the four stakeholders in a company, the one with the least accountability is the corporate secretary. It is no wonder that startups, especially those operating with a limited budget, will question the need for one. In truth, a secretary is one of the important people within an organisation. [...]
For individuals who plan to set up a company in Singapore, they should prepare all the legal documents and requirements stipulated by ACRA. It is not an easy task to set up a business. Below are some steps that will guide interested individuals on how to set up a [...]
