Optimising resource performance is still enduring priority for many businesses. Due to the comparative cost and output advantages, many companies choose to place their routine and standard accounting functions under external administration instead of maintaining an internal accounting.
Our approach in the review, analysis and proposal of accounting documentation, process flow and management system (from data entry to reporting of accounts) contributes to efficient planning and scheduling of work towards meeting submission deadlines.
Why outsource your company's Accounting?
- Top management and foreign establishment can focus on strategic issues to stay competitive
- Elimination of relevant personnel, fixed overhead cost, software obsolescence and computer downtime issues
- Scalable operational effectiveness to meet business maturity or recessionary pressures
- Provision of professional advice as well as essential information for making critical decisions
What do our services include?
Preparation of periodical accounts on monthly, quarterly or annual basis:
- Setting up of accounting systems and sharing of expertise advisory on Company’s accounting policies and procedures
- Recording of payments due for accounts payables and receivables
- Preparation of periodical accounts on monthly, quarterly or annually basis
- Preparation of accounting periodic financial report for internal decision making, including
- Balance Sheets
- Profit & Loss Accounts
- Trial Balance
- Cash Flows / Budgeted Cash Flow Statement
- Aged analysis of trade debtors and trade creditors
- Sales and cost of sales matching report
- Special report required by management team e.g. consolidated report, variance report, etc
- Ad hoc accounting, that may comprise of the following:
- Reconstruct accounts from incomplete records
- Clearing misfiled, disorganised and backlogged accounts
- Offer accounting assistance on short term and temporary basis, when the company is in the midst of restructuring or the accounts department is under-staffed due to unforeseen circumstances
On‐site accounting, that may comprise of the following:
- On-site work at client’s premises to render professional services such as administrative, advisory and book-keeping services
- Render accounting-related administrative services such as preparation of payment vouchers, provision of cheque signatory, banking in of cheques and filing.
- Monitoring overdue debtors and creditors accounts and overseeing financial transactions pertaining to cheque payments.
Financial Statements Compilation
Singapore private limited companies which enjoy audit exemptions are still required to prepare the “Financial Reports” in line with the Singapore Financial Reporting Standards (FRSs) and Companies Act. These “Financial Reports” are required for submission to relevant authorities such as ACRA and IRAS.
Our Financial Reporting Services include
- In order to ensure that the company complies with all rules and regulations, our professional accountants can help your company by preparing the financial reports which includes the following:
- Directors’ Report
- Statement of Directors
- Statement of income
- Statement of Financial Position
- Statement of Changes in Equity
- Statement of Cash Flow
- Accounting Policies
- Notes to Financial Statements
- Prepare Financial Reports in line with the Singapore Accounting Standards and Companies Act (a requirement by ACRA and IRAS)
- Provide consultancy/advice with regards to the company’s accounting matters
- Provide timely reminder to the relevant deadlines