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The Financial Year End of a Company Every company in Singapore is responsible for determining its own Financial Year End (FYE). The Financial Year End refers to the completion of an accounting period. The financial year-end of a company may fall on the 31st of December or any other date within the year. Many new…
All businesses will eventually face certain changes in future. If you own a business, you need to have an ideal exit plan in order for your business to remain functional and successful when your business faces unexpected changes. Many people believe that business owners need a contingency plan that requires certain steps to be taken…
As an entrepreneur, raising your first round of venture capital is crucial to funding business operations and expanding your team. What can you do to increase the chances of securing series A funding? Thanks to bootstrapping and private equity investors, your startup has been steadily growing, and your business is starting to gain traction among…
Under sections 175, 195, and 201 of the Companies Act, all Singapore incorporated companies are required to file Annual Returns and hold Annual General Meetings (AGM). At the AGM, company directors are expected to share their fair and unbiased views regarding the company’s accounts. In accordance with Section 175, a company must organize its first AGM…
In July 2015, The Accounting and Corporate Regulatory Authority (ACRA) in Singapore established a new concept called the small company concept. Soon afterwards, a new Companies Act reform was introduced to offer audit exemptions for these small companies. What is the Small Company Concept? According to the small company concept, qualifying organizations can enjoy…
Data security and privacy are two important matters to be taken seriously. Since pretty much anything and everything can be done online these days, being forced to disclose personal data to organizations and companies is no longer a surprise. The fact is, whenever we purchase something online, there is always a piece of personal data…