Outsourced Accounting & Advisory Services
Estimate with
Statutory Accounting &
Book-Keeping Services
Meeting the statutory accounting and the book-keeping compliance in today’s highly regulatory environment is the challenging task. Regardless the nature of your business, every company has the same common challenges – regulatory, compliance and productivity. As your outsourced accounting service provider, we help manage your local compliance obligations and more.
What we can do for you.
We see finance and accounting compliance management as an opportunity for transformation. Looking beyond the immediate compliance task, we bring together proven cost-efficient methods, processes and technologies to develop frameworks and processes to add longer-term value to your organization.
Our team of compliance professionals have worked with clients in multiple countries. We are committed to continuously improve the accounting compliance function to help meet your business goals. Not having to worry about your accounting function and compliance with statutory requirements means that you can focus on what really matters - growing your core business.
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Our services include:
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Other accounting and bookkeeping related services
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Extensive support through coordinated project management for cross-border group accounting
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Preparation of budgets, business reviews, financial analysis, and/or cash flows reports for business decisions making XBRL
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Integration of compliance with the statutory audit process
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Multiple GAAP (Generally Accepted Accounting Principles) capabilities, including footnote disclosures
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Advice on group consolidation and related processes
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Preparation of periodic management reports
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Accounts Receivable and Accounts Payable management
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Statutory accounting, bookkeeping, and financial statements compliance
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Implementation of accounting system
Book-Keeping & Accounting Services
Going Beyond Routine Accounting Services
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Understanding your management information needs thoroughly is our starting point, and we go beyond the routine if necessary, like customising the management report format according to your needs.
Routine Accounting Services Popular with SMEs
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Our accounting services are especially popular with SMEs because we inject meaning to book-keeping. 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.
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Such value-add is possible because of our strong Stone Forest backing, where our staff undergo multi-disciplinary training on an on-going basis, giving them an added perspective of issues impacting our clients' businesses.
Our Routine Accounting Services includes:
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Set up proper accounting systems
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Perform accounting-related administrative services in:
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Sales & Receipt Cycle (sales invoicing, reminders)
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Payment Cycle (provision of signatories, AP process)
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Provide routine and non-routine financial reports including:
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Departmental report
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Variance report
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Monthly comparison of performance
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Highlights on key performance indicators
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Prepare cash flow projections
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Administer GST compliance
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Administer corporate & personal tax compliance
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Compile proprietor's accounts
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Set up accounting policies and procedures
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SME Classic Packages
With the recent amendments to the Singapore Companies Act, a private company that used to require statutory audit may no longer need to do so. The revised audit exemption criteria introduce the concept of “small company” and “small group” classifications in determining if a company/group qualifies for audit exemption for a particular financial year (FY). The previous audit exemption criteria (before FY starting 1 July 2015) for EPCs no longer applies once the revised audit exemption criteria take effect.
The revised criterion stipulates that a company qualifies as a small company and is exempted from statutory audit if it is a private company and meets at least 2 out of the 3 following criteria:
· Total revenue ≤ S$10 million;
· Total assets ≤ S$10 million;
· Number of employees is ≤ 50
A small group is one that meets at least 2 out of the 3 quantitative criteria mentioned above on a consolidated basis for the last two consecutive financial years.
If your company qualifies for audit exemption, it will still need to prepare an unaudited financial statement in accordance to the Companies Act and Singapore Financial Reporting Standards for the purpose of IRAS' filing requirements to file your tax returns. The format is similar to an audited financial statement except that you do not need an auditor to sign off the report.
We can help you prepare unaudited financial statements in accordance with IRAS' filing requirements, and file your tax returns if desired. We are in constant and close touch with the latest changes and developments in accounting standards, statutory requirements, tax and GST matters impacting businesses, which translates to the value-add we bring to our accounting assignments.
SME Premium Packages
The ad-hoc accounting is taking fast action at short notice to attend to non-routine accounting work requiring a quick turnaround. Speed is of the essence.
Clients are often referred to annual financial reports from banking, creditors and investors who require financial statements at short notice.
In ad-hoc accounting, we help to:
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Clear accounting backlog and "messy" accounts
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Prepare financial statements to meet audit deadlines
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Expedite preparation of financial statements for urgent submission to banks & financial institutions
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Reconstruct accounts from incomplete records
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Crunch numbers in preparatory work for Initial Public Offer assignments
