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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…
There are two reasons why accounting standards are developed in Singapore. The first reason lies in the fact that accounting standards are developed in the public interest in the support of the corporate governance of the country. Secondly, Singapore’s accounting standards are developed to support the country’s reporting framework. In order to enjoy public confidence…
Everyone knows running a business is no child’s play. One needs to take care of every big and small tasks to make sure that the business is on track as well as successful. While some aspects require human touch, some can be automated. Finance and accounting is one such business process that can and should…
Setting up a business can be exciting, but getting it off can sometimes be challenging. The early-stage mortality rate among startups is high. There are several reasons for such a higher rate; however, poor financial management is usually at the top. 💡 Learn the mistakes to avoid. Read 20 mistakes SMEs make that can lead…
Here is a complete guide for what an accountant does, and people are unaware of that. Accountants work more beyond what you think. They will keep and interpret the financial records and are responsible for performing a variety of business-related tasks. Moreover, they will provide you a few strategic advices and ways for boosting revenue…