Singapore is one of the world’s fastest-growing economies; it has earned itself many accolades ranging from the cleanest city in the world to being the city with the most millionaires. What made the economy continuously flourish amidst the economic meltdown? The silent factor all these successful companies have in common is their great eye for…
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There are many reasons to set up a foreign business in Singapore. You’ll feel like golden doors are open to making life easy for your corporation or business coming from anywhere in the world. Highly rated among many individuals and businesses, Singapore is an all-around business-friendly city. Modern high-rises and plenty of opportunities, Singapore is a…
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Small and medium enterprises (SMEs) are the modern equivalent of industries during the colonial period in Europe, leading the world in innovation, products, marketing strategies and prices. The world, however, isn’t especially kind to newly started SMEs, with bigwigs in each industry putting their best efforts in stopping new competitors in their tracks. We offer…
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Singapore is one of the world’s fastest-growing economies. It has earned itself many accolades ranging from the cleanest city in the world to being the city with the most millionaires. What made its economy continuously flourish amidst the economic meltdown? The silent factor all these successful companies have in common is their great eye for…
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The tax accounting department often faces significant challenges when it comes to the management of financial restatements due to errors and tax accounting issues and increased regulatory and scrutiny of tax-related balances and disclosures. There is also the pressure of meeting the quarterly GST filing, ECI filing three months after financial year-end and annual financial reporting and corporate tax timelines.…
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In Singapore, running a company involves a lot of overheads. Besides the core activity of the enterprise, there are many essential activities which take a lot of time and expertise. The business owners still have to invest in these activities, thus losing focus and energy for the primary business. As a company grows in size,…
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A business person typically starts the accounting aspect of his business by adding up all the sales, adding up all the receipts for expenses and counting the cash. His chart of accounts would be limited to sales, costs, and cash. All the entries would be in the debit column, except for amounts owed to him,…
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Context of Evolutionary Work Dynamics Thanks to the tech-savvy world that we live in today, human interaction in the social and corporate spheres of life has changed considerably. As a result of the alarming rate at which technology is advancing, the dynamics of work are in a phase of continuous evolution. The conventional, often isolated, top-down…
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The economic meltdown of 2008 brought the world economies to their knees. It was one of the worst recessions since the great depression of the 1930s. While some companies restructured and laid off a lot of workers to survive, some had no way out thus went totally bankrupt. This served as a reality check for many…
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According to the Singapore Companies Act (Chapter 50), all Private Limited Company should have at least one shareholder. The shareholder can be an individual or a corporation. A shareholder needs to be a Singapore citizen, permanent resident (PR), employment pass (EP) holder or dependent pass (DP) holder. Once the company is incorporated, to secure the corporate…
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De-registration of Singapore company off the ACRA Register can be done following a few procedures. The company should submit its final tax returns to Inland Revenue Authority of Singapore (IRAS) before it strikes off via ACRA. If a company is no longer doing business or pursuing its chosen venture, the company should opt to strike…
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Our in-house Payroll Team assists companies to deliver reliable, timely and accurate payroll service for management review. As such, the management is free from the hassle of dealing with routine payroll matters and giving you a full focus in running and expanding your business. Our in-house team is trained in meeting all Payroll and Human Resources related administrative matters for…
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One of the greatest options that Small and Medium Enterprises can do is to outsource their accounting services. With many good reasons as to why a company should outsource their accounting services, the reasons of scalability and flexibility would shine brightest among the others in terms of the long-term effects it could give the company.…
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Outsource back office functions to the accounting service firm is a popular business strategy trend for both small to medium enterprises and large-scale companies in Singapore. It practically refers to the allocation of your specific business function to a specialist external provider. In outsourcing, instead of handling a certain business function like the accounting function of your company…
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Business is a powerful system that comes with no how-to manual. Everything that you do in business is a walk on the rope; every step of yours on it counts very vitally. Every entrepreneur undergoes a state of mind, looking for enlightenment, in the pathway to business. Here is a list of “DO NOT” that you should keep…
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Financial Health of a Company The company’s accounts determine its net asset value and cash flow positions. Due attention should be given to accounting from the beginning itself as it is equally important as compared to the operations of the company. This is the reason why most of the start-up enterprises or Singapore companies leave these back office…
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