Rikvin Offers Singapore Accounting Services 

by Randy Kave Wednesday, April 27, 2011
Theoretically, accounting is the systematic process of recording, reporting, and making analysis of financial transactions of a business. In Singapore, accounting is among the areas the government is actively innovating.

“We want to be a leader in providing accurate and timely accounting,” says ACRA’s chairman, Miss Chan Lai Fung.

Each company registered in Singapore, whether a private limited company, subsidiary, or branch office is obliged to appoint an auditor within six months from the time the organization is established in Singapore.

The accounting in Singapore is very crucial. Its processes are an integral part of a company’s annual obligations with ACRA.

“With ACRA, companies must hold an Annual General Meeting. Before the meeting is held, they ought to submit to ACRA their unaudited and audited accounts including the Director’s Report,” says Rikvin.

“They also have to submit the companies’ annual return within one month before the AGM is held,” adds Rikvin.

The Annual General Meeting can be held anywhere as long as the shareholders are able to meet. It can also be in written resolutions, in which, the meeting is not required.

During the meeting, Rikvin explains that among the agenda are to approve the Director’s Report and Audit Report, approve director’s fees, remunerations, emolument; re-elect directors, if applicable, reappoint auditors, declare dividends, if any; and transact any other business.

Included in the accounts are cash flow statement, balance sheets, statement of comprehensive income, statement of financial position, and statement of changes in equity.

“Beginning November 2007, companies are required to file their financial statements in XBRL format when they file their annual return with ACRA,” reveals Rikvin.

After the AGM is held, companies shall submit to ACRA the resolution they came up during the meeting.

Rikvin offers accounting services such as bookkeeping and payroll management. Its team of accountants is adept at all languages used in accounting.

“We assist in preparing the accounts and even in drafting the Director’s Report,” chimes Rikvin’s business consultant.

The Director’s Report is a compilation of unaudited financial statements with supporting notes and disclosure of accounting policies applied by the company, disclosure of company’s operation, and shareholder’s and director’s interests.

Rikvin shall assign an account manager to a company to help in bookkeeping and or payroll management.

“In Singapore, the payroll account can be simple as no deductions and additions or complex such as having deductions and additions at the same time,” says Rikvin.

The payroll in Singapore may be given on daily, weekly, bi-monthly, or monthly basis. It can be in cash, cheque or bank transfers.

About the Publisher:
Rikvin has successfully helped foreign and local entrepreneurs form a Singapore company. The company provides complete corporate solutions to investors and entrepreneurs both local and abroad. Among its specializations are Singapore company registration, income tax Singapore and providing professional services relating to financing and compliance services.

Rikvin assures its clients of confidence in dealing with every transaction. Its employees maintain competence and above all, Rikvin’s principles adhere to business ethics and all applicable laws. Its goal is to provide a highly personalized and professional service worthy of our clients loyalty.

“Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions.”

For more information, visit:
Rikvin PTE LTD
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
Fax : (65) 6438 2436
Email : info@rikvin.com
Website: http://www.rikvin.com/

Rikvin offers Singapore Company Registration service including securing your Singapore Employment Pass and Singapore EntrePass Visa for Singapore Business Migration.

General | Categories: financial, business
0    submitted by Randy Kave
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