Welcome to the vibrant world of small businesses in Singapore, an ecosystem brimming with innovation, drive, and entrepreneurial spirit. In this bustling environment, one critical aspect often poses a challenge…

Singapore had a tax rate of 26% in 1997. However, it gradually went down over the years and has finally settled at a flat 17% in 2010.  But it is…

Most businesses, especially SMEs, struggle to keep their books up-to-date. It can be attributed to a lack of knowledge and the unwillingness to learn. But robust accounting is often the…

A profit and loss statement is a part of the financial statements prepared by the company to summarize its revenues, costs, and expenses for a period. The information is vital…

External stakeholders barely have access to insider information of the entity they plan to invest in or are invested in. Even most stakeholders within the company have an incomplete picture…

The trial balance often forms the bridge that helps accountants in preparing the company’s financial statements. But they do not rely on it solely as they understand that it is…

The world is becoming a global village but even though it stands true, expansion is not as easy as it sounds. Whenever any company plans to expand its reach, the…

On 14 January 2020, Singapore’s central bank, ACRA (Accounting and Corporate Regulatory Authority), and MAS (Monetary Authority of Singapore) came together to unveil the Variable Capital Companies (VCC) framework.  Its…

Every company in Singapore maintains its financial statements in some way or the other. These refer to documents that help the onlookers to gauge the financial position of the company.…

Every business needs financial statements. It forms the core of a business and reflects major balances pertaining to its finances at a certain point. A trial balance is one of…