Strike Off a Company in Singapore: Failure To File Annual Returns
The Accounting and Corporate Regulatory Authority (ACRA) can strike off a company in Singapore if there is a reasonable cause to believe that the business is not in operation. One [...]
Accounting Software for SMEs in Singapore
Getting accounting software may seem like a huge investment especially for some small and medium-sized enterprises in Singapore. Initially, a number of startups opt to use a spreadsheet to track [...]
Singapore Accounting Standards
Accounting Standards Council or ASC is a governing body that formulates and promulgates accounting standards in Singapore. These standards include the Singapore Financial Reporting Standards (International), Financial Reporting Standards (FRS), [...]
LLP vs Pte Ltd: The Differences According to ACRA
The two most often compared company types in Singapore are Limited Liability Partnerships (LLP) and Private Limited Company (Pte Ltd). Thanks to the country’s economic competitiveness, entrepreneurs are eager to [...]
Accounts Payable: Definition and Process
In accounting terms, the meaning of accounts payable (AP) is the amount of money owed by a business to its creditors that needs to be paid back in a short [...]
Understanding Accounts Receivable (AR)
Accounts Receivable (AR) is the amount of money your clients owe you for goods or services delivered but has not been paid yet. Good knowledge of accounts receivable enables a [...]
Company Strike Off and Restoration According to ACRA
Striking off a company simply means having it removed from the Singapore Register of Companies. Applying for a company strike off is a cost-effective way to close down a company, [...]
Accounting and Corporate Regulatory Authority: Compliance
The Accounting and Corporate Regulatory Authority (ACRA) is a Singapore government body that regulates businesses, public accountants, corporate service providers, and financial reporting. While maintaining the Lion City’s status as [...]
Local Company Strike Off According to ACRA
When you strike off a company, it simply means that you are removing it from the Register of Companies. Striking off is a cost-effective approach to closing down a business. [...]
A Singapore Corporate Secretary’s Task: Minutes of the Meeting
In compliance with Singapore policies, business entities must appoint a corporate secretary to fulfil various corporate responsibilities such as coordinating meetings for the company’s directors and shareholders and preparing the [...]
Management Accounting for Small Businesses
Management accounting, also known as managerial accounting, is the process of collecting, organising and reporting the company’s financial data. It is commonly used for recording internal financial information (for internal [...]
Outsourcing Compliance Work to Accounting Firms in Singapore
Starting a business in Singapore is a complicated process that some company owners decide to engage with accounting firms. These third-party firms help organise their company’s financial records and keep [...]
Tax Obligations of a Singapore Company Applying to Strike Off
Entrepreneurs who want to close their business in Singapore can either apply to strike off their company through the Accounting and Corporate Regulatory Authority (ACRA) or wind up with the [...]
The Meaning of Liquidation
In accounting, the meaning of liquidation is the process of selling off all the company’s assets to generate cash. These funds will be used for paying creditors and other debts. [...]
Can a Company in Singapore Operate without a Corporate Secretary?
In Singapore, all companies registered with the Accounting and Corporate Regulatory Authority (ACRA) are mandated to appoint a corporate secretary within six months from the date of incorporation. The corporate [...]