Often called the financial hub of Asia, Singapore offers endless opportunities for entrepreneurs and business owners. Opening a company here is easier than in most other Asian countries, thanks to an incredible incorporation process, which has been fairly automated. Once the company is established, you must find a company that specialises in Singapore accounting services and understands the SFRS, IFRS & IAS standards. In this post, we will talk about the services you can expect from a professional and reputed Singapore Accounting Company.
Singapore Accounting Company
- Statutory accounting services. Every year, private limited companies must get their accounts audited, which must be submitted to the relevant government bodies, including ACRA and IRAS. To do all of that, you need statutory bookkeeping services, which keep a track of your business transactions, keeping all the statutory requirements and regulations in consideration.
- Management Reporting. Accounting information and details are also relevant for the management that often needs to take considerable decisions at different points of time. Professional accounting firms, depending on the package you take, may also offer management reports, so that you can understand the accounts better, including the compliance with local standards such as SFRS and IFRS.
- Get consolidation services. Final accounts are prepared at the end of the financial year, but the accounting process continues throughout the year. For most small and large-scale companies, monthly and quarterly reports are prepared by the accounting firm, and you can expect to get assistance for the consolidation process. The consolidated information is more viable and necessary for measuring the performance of your company.
Accounting firms are known for their expertise and experience, and you can get additional assistance on various other matters, including the implementation of accounting software. Since most new companies are unsure of the initial aspects, it’s wise to have a team that can understand the accounting procedures and can offer adequate support in establishing the standards. You can also get help for financial analysis, budgeting, and cash flow analysis.
VentureHaven is a renowned accounting firm in Singapore, offering a plethora of services. Besides offering help with registering company Singapore, we can assist with your accounting needs with a more customized approach. Feel free to check our website to know more, or else, we will be happy to take your appointment for a consultation session. Our consultants are available on all weekdays, and we are open to offering services for foreign investors.