As per the Singapore Companies Act, companies registered in Singapore are required to appoint a company secretary who can assist them in the administration of their company within six months of incorporation. They may be called secretaries, but they have responsibilities that are beyond clerical or secretarial in nature. They actually hold senior positions in the company with great responsibilities.
Most people who don’t have a lot of experience in finance think of accounting as a profession that deals with analyzing and keeping track of numbers. In reality, accounting is a very broad field that covers many different services including taxation, auditing, payroll processing and financial statement Continue reading
People are often enthralled by the prospect of starting their own businesses. As we all know starting up a business whether it is big or small requires tons of responsibility. Among the essential aspects of businesses is accounting and bookkeeping. The down side is, not everyone maybe knowledgeable about these things. Still, you should not lose hope for there are so many solutions. One of the best solutions is to hire an accounting service provider.
A company’s financial statements are quantified reports of its performance for a specific period, usually a year, but can sometimes be quarterly as well. Financial statements typically include an income statement, balance sheet, as well as cash flow. These things record the stream of cash in and out of the company’s coffers for analysis purposes later on. Ultimately, the numbers in these statements serve to tell investors, authorities, and the company itself whether they are growing or losing in the business.
The world may have recovered from the 2008- 2009 recession however, there are still many companies that are closing down. There are so many reasons why companies choose to liquidate or wind-up. In order to recover some, companies choose to wind up some of their businesses.
According to the Singapore Companies Act, all Singapore companies must have a local director in place. Whether a local executive of the company in Singapore or as a third party director.
The business culture in Singapore is undeniably one of the best in the world. The Southeast Asian nation continues to attract the attention of business professionals and entrepreneurs from all over the world because of its remarkable pro-business policies. The notable pro-business environment in the Lion City is competently steered and governed by the Singaporean government, particularly by agencies such as the Accounting and Corporate Regulatory Authority Singapore (ACRA) and the Inland Revenue Authority of Singapore (IRAS).
Conducting an audit is beneficial to every aspect of business management. When you hire a professional auditor to conduct thorough internal audits from time to time, you can be assured that your financial records are assessed with utmost precision and analysed without bias. Auditing can help you see the bigger picture – if you understand your financial records and financial standing, it becomes easier for you to make intelligent business decisions based on records and facts and not rely on mere instinct and wild assumptions.
Most people who don’t have a lot of experience in finance think of accounting as a profession that deals with analyzing and keeping track of numbers. In reality, accounting is a very broad field that covers many different services including taxation, auditing, payroll processing and financial statement preparation.
At least one local company secretary — this is the mandate of the Singapore Companies Act (SCA), the regulatory statute covering the Lion City’s business sector. This, plus the opportunity to better oversee and manage the operations and other essential facets of your business, is more than enough reasons that you should engage a financial solutions specialist with proven proficiency in Corporate Secretarial Services.