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Archives for Accounting

How Long Should I Keep Business Records?
It’s a common question – How long should we retain my company's business records? Inland Revenue Authority of Singapore ("IRAS") states that companies are required to keep proper records and accounts of business transactions. Read more
The Importance of Record-Keeping
IRAS has recently come out with a well-prepared video clip on the importance of record-keeping for self-employed persons such as insurance agent and real estate agent. Read more
Goods and Services Tax (GST)
Goods and Services Tax (GST), also known as Value-Added Tax (VAT) in many countries, is a broad-based consumption tax levied on the import of goods and the supply of goods and services in Singapore. Read more
Income Statement (By Nature Vs By Function)
Is an income statement presented by nature of expense or by function of expense? Read more
Accounting Workflow for a Business Owner
In all businesses, it is of utmost importance to have an accounting system to monitor the business’ finances. An accounting system helps business owners to keep track of the business’ income, expenses, assets and liab Read more
Wave Accounting Software
“There is no such thing as a free lunch” is a popular adage communicating the idea that it is impossible to get something for nothing. Notwithstanding the elements of truth that this adage conveys, Read more