Services
Accounting Services in Singapore
SHORTS Business Services is a Singapore-based provider of corporate accounting services in Singapore.
Overview
What is Accountant and Book keeping Services?
Functions of Accounting Services in Singapore
Accounting services Singapore are designed to meet the diverse needs of businesses from startups to large enterprises.
Bookkeeping
Bookkeeping refers to the systematic recording of financial transactions such as sales, purchases, receipts and payments accurately to keep up-to-date financial records while adhering to tax regulations.
Financial Reporting
Our financial reporting services include providing essential financial statements like balance sheets, income statements and cash flow statements by Singapore Financial Reporting Standards (SFRS). Such reports give a clear snapshot of a company's health and performance while complying with local accounting standards such as those issued by Singapore.
XBRL Financial Statements
In Singapore, XBRL (eXtensible Business Reporting Language) financial statements ensure compliance with Accounting and Corporate Regulatory Authority requirements by converting financial statements to this format to facilitate easier data sharing and analysis. These services involve the conversion of annual reports to this XBRL format so as to meet Singaporean ACRA regulations for ease of analysis.
Corporate Accounting Services
Corporate accounting services in Singapore cover an expansive spectrum of business accounting needs, from tax compliance and preparation of statutory accounts to advisory. This ensures compliance with local regulations while optimizing tax liabilities and making informed financial decisions.
Payroll Processing
Payroll processing services help managers handle the complex aspects of payroll management efficiently, including calculating wages, withholding taxes and making timely payments to employees. In addition, payroll processing ensures compliance with employment laws while managing employee benefits efficiently.
Management Reporting
Management reporting involves providing financial data to managers for decision-making purposes. This may involve budgeting and forecasting processes and reports to support strategic planning and performance monitoring.
What are Singapore Financial Reporting Standards
Singapore Financial Reporting Standards (SFRS) provide accounting principles and guidance that were set to guide how financial statements are prepared and presented in Singapore by the Accounting Standards Council (ASC). As part of the ASC member’s requirement to join, the SFRS provides transparency, uniformity and comparability between businesses.
SFRS assures consistency in financial statements for all organizations, thereby facilitating decisions made by regulators, investors, and other stakeholder groups. Transparency is a further hallmark of SFRS; companies must present transparent and accurate data to help build trust among investors and maintain the integrity of markets.
Singapore Financial Reporting Standards (SFRS) were designed to align with the International Financial Reporting Standards (IFRS), which makes accounting and financial reports in Singapore in line with international standards and makes multinational enterprises working across borders more efficient in managing and reporting their finances, resulting in more smooth international business operations and more efficient results.
SFRS for SE (Small Entities)
The Singapore Financial Reporting Standard for Small Entities (SFRS for SE) is designed to simplify the financial reporting process for Singaporean small-sized firms. It was created and developed by the Accounting Standards Council (ASC). The financial standard allows efficient, cost-effective financial statements for smaller businesses. Partnering with the best accounting firm in Singapore can simplify the process for small businesses.
SFRS to SE simplifies Singapore Financial Reporting Standards by simplifying recognition of the requirements for measurement, disclosure, and recognition, making compliance easier without extensive resources but still relevant and easy to comprehend, with the most important information focusing on the right details. This standard ensures that financial statements remain relevant and manageable to the reader.
How to Qualify
To qualify for SFRS for SE, a small entity must not have public accountability, meaning it is not publicly listed and does not hold assets in a fiduciary capacity for a wide group of outsiders. Additionally, it must meet specific size criteria related to revenue, total assets, or number of employees as defined by the ASC.
Streamlined Approach
SFRS for SE offers a simplified method of financial reporting for small businesses (SE) with simple financial statements, revenue recognition guidelines, and rules for leasing and other financial instruments. This simplified approach helps small businesses save on compliance costs and simplify the reporting process for them and their accountants.
Overall, SFRS for SE provides small businesses an easy structure to maintain top-quality financial reporting while minimizing compliance burden. This allows small businesses to concentrate on their core business and growth while meeting their reporting requirements.
What you get
How Can We Help You?
Shorts Business Services offers affordable accounting solutions in Singapore with a qualified team to meet your business’s accounting requirements. Our dedicated staff assists companies in achieving financial efficiency and compliance
- Expert accountants review, prepare reports
- Capture and formally document the input data.
- Payroll, invoices, accounts managed seamlessly
- Compliance-driven compilation of financial documents.
- Efficient Management of Tax Filing Schedules
- Preparation and compilation of balance sheets
- Management of cash flow and budget formation
- Assess and Prevent Financial Risks Effectively.
- Periodic financial analysis, provides improvement suggestions
- Our assistance and support throughout the year
- Transparent and honest charges as per the tasks
Incorporation
What you get
How Can We Help You?
Incorporation
- Expert accountants review and prepare reports.
- Capture and formally document the input of data.
- Payroll, invoices, accounts managed seamlessly
- Compliance-driven compilation of financial documents.
- Efficient Management of Tax Filing Schedules
- Preparation and compilation of balance sheets
- Management of cash flow and budget formation
- Assess and Prevent Financial Risks Effectively.
- Periodic financial analysis, provides improvement suggestions
- Our assistance and support throughout the year
- Transparent and honest charges Based on Assigned tasks
Benefits
Find The Best Accounting Firm In Singapore
Incorporation
Service Includes government fee for name application, company name reservation, fee for company registration, issuance of constitution and share certificate etc.
Incorporation of the company and business
Service Includes government fee for name application, company name reservation, fee for company registration, issuance of constitution and share certificate etc.
Setting up company business profile
Service Includes government fee for name application, company name reservation, fee for company registration, issuance of constitution and share certificate etc.
Share certificates
Service Includes government fee for name application, company name reservation, fee for company registration, issuance of constitution and share certificate etc.
Company seal and stamp
Service Includes government fee for name application, company name reservation, fee for company registration, issuance of constitution and share certificate etc.
Find The Best Accounting Firm In Singapore
Shorts Business Services has the expertise, skill, and qualified staff to handle accounting work and facilitate businesses in their tough times. We ensure you get assistance as per your accounting needs and fulfil the compliance requirements within time. As an accounting services provider Singapore, we are well-aware of the Singapore business statutory and provides guidance according to the laws and regulations set by the IRAS and ACRA. Managing accounts and keeping books in order can be a tedious and daunting task. Our exceptional services match your business needs and take the burden off you. Thus, you save time, money, and resources to focus on your core business activities. If you are looking for the best accounting firm in Singapore, contact us!
Choose SHORTS Business Services for the best accounting service in Singapore.
Partner with us
Ready to Start Your Business in Singapore?
-
Expert Guidance
-
Fast Turnaround
-
Hassle-Free Process
-
Legal Compliance
Partner with us
Ready to Start Your Business in Singapore?
-
Expert Guidance
-
Fast Turnaround
-
Hassle-Free Process
-
Legal Compliance
Faq's
Accounting provides accurate financial records, supports compliance, aids in decision-making, and ensures effective financial management.