In Singapore, running a company involves a lot of overheads. Besides the core activity of the enterprise, there are many essential activities which take a lot of time and expertise. The business owners still have to invest in these activities, thus losing focus and energy for the primary business. As a company grows in size,…
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A business person typically starts the accounting aspect of his business by adding up all the sales, adding up all the receipts for expenses and counting the cash. His chart of accounts would be limited to sales, costs, and cash. All the entries would be in the debit column, except for amounts owed to him,…
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Context of Evolutionary Work Dynamics Thanks to the tech-savvy world that we live in today, human interaction in the social and corporate spheres of life has changed considerably. As a result of the alarming rate at which technology is advancing, the dynamics of work are in a phase of continuous evolution. The conventional, often isolated, top-down…
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The economic meltdown of 2008 brought the world economies to their knees. It was one of the worst recessions since the great depression of the 1930s. While some companies restructured and laid off a lot of workers to survive, some had no way out thus went totally bankrupt. This served as a reality check for many…
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According to the Singapore Companies Act (Chapter 50), all Private Limited Company should have at least one shareholder. The shareholder can be an individual or a corporation. A shareholder needs to be a Singapore citizen, permanent resident (PR), employment pass (EP) holder or dependent pass (DP) holder. Once the company is incorporated, to secure the corporate…
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De-registration of Singapore company off the ACRA Register can be done following a few procedures. The company should submit its final tax returns to Inland Revenue Authority of Singapore (IRAS) before it strikes off via ACRA. If a company is no longer doing business or pursuing its chosen venture, the company should opt to strike…
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Our in-house Payroll Team assists companies to deliver reliable, timely and accurate payroll service for management review. As such, the management is free from the hassle of dealing with routine payroll matters and giving you a full focus in running and expanding your business. Our in-house team is trained in meeting all Payroll and Human Resources related administrative matters for…
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One of the greatest options that Small and Medium Enterprises can do is to outsource their accounting services. With many good reasons as to why a company should outsource their accounting services, the reasons of scalability and flexibility would shine brightest among the others in terms of the long-term effects it could give the company.…
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Outsource back office functions to the accounting service firm is a popular business strategy trend for both small to medium enterprises and large-scale companies in Singapore. It practically refers to the allocation of your specific business function to a specialist external provider. In outsourcing, instead of handling a certain business function like the accounting function of your company…
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Business is a powerful system that comes with no how-to manual. Everything that you do in business is a walk on the rope; every step of yours on it counts very vitally. Every entrepreneur undergoes a state of mind, looking for enlightenment, in the pathway to business. Here is a list of “DO NOT” that you should keep…
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Financial Health of a Company The company’s accounts determine its net asset value and cash flow positions. Due attention should be given to accounting from the beginning itself as it is equally important as compared to the operations of the company. This is the reason why most of the start-up enterprises or Singapore companies leave these back office…
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One of the most significant opportunities that the business owner can do is to outsource their accounting services. With many good reasons as to why a company should outsource their accounting services, the reasons of scalability and flexible would shine brightest among the others regarding the long-term effects it could give the company. We all know that…
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A company will always face problems from sudden small glitches to persistent obstacles and even significant drawbacks. Some businesses don’t survive because of failure to assess risk or see the signs of trouble and to promptly act on it. One thing you can do is to understand your business’ financial performance to help you recognise…
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If the accounting tasks at your company are becoming too time-consuming, consider outsourcing the accounting function. When you outsource these functions, it frees up time for you to expand your business instead of just managing it. Companies that provided outsourced annual compilation services in Singapore can help your business with month-end and year-end statements, bank reconciliations,…
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What are company secretarial services? Our Company Secretarial Services are provided to Singapore companies that do not have the resources to carry out such functions on their own. Singapore registered companies must appoint a named Company Secretary in accordance with the Singapore Company Act Cap 50. This information must be updated in the company’s ACRA…
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Cloud Technology to improve efficiency and productivity With the advent of new cloud technologies available in the market, there are many innovations accessible to enterprises of different types. One of this newest innovation is in the school of mobility and is known as cloud accounting. With the widespread use of mobile phones, cloud accounting has become…
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