Accounting is often called “the language of business.” It communicates so much of the information that owners, managers, and investors need to evaluate a company’s financial performance. As business decisions are often taken based upon financial information, the financial statements and reports must be accurate and reliable. Enston’s dedicated accounting professionals provide extensive practical and technical assistance covering all aspects of the accounting function. In addition, we share with the management the implications of their financial numbers, highlight variances and alert them to any compliant issues like GST and withholding tax.
Our Accounting Services include:
- Preparation of monthly/quarterly/yearly management accounts
- Consolidation of accounts
- Registration for goods & services tax (GST), central provident fund (CPF)
- GST report prepration and submission to IRAS
The Companies Act (amendments) 2014 has introduced the concept of “small company” for the purpose of audit exemption. A company is defined as a small company if it meets two of the following three criteria:
- Revenue less than S$10.0 million;
- Gross asset less than S$10.0 million; and
- Less than 50 employees at year-end date
If the company is part of a group, the above criteria would apply on a group basis.
For the private limited companies in Singapore which meet two of the above three criteria, it is no longer necessary to have the accounts audited. Such companies are required to prepare a full set of financial statements (un-audited financial statements) which includes explanatory notes and the Directors’ Statements.Read more