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Accounting Services in Singapore

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Every company registered in Singapore must maintain its accounting records with accordance of Singapore Companies Act. Maintenance of accounting records will help in maintaining clear records of the company’s financials and assist in management decisions. We at IMC, provide accounting services in Singapore for your business. We also fulfill the role of an audit firm in Singapore. We strive to make sure that your business meets all the compliance requirements issues by the ACRA and the IRAS. IMC offers a wide range of accounting and bookkeeping services in Singapore.

Importance of maintaining proper accounts in Singapore

The Singapore Companies Act mandates the maintenance of proper accounts to ensure transparency and correct filing of financial records. The accounts so maintained must be by Singapore Financial Reporting Standards(SFRS). The accounting statement should consist of Profit and Loss A/C, Cash flow statement, and Equity Statement. IMC is an accounting firm in Singapore providing these services. Proper bookkeeping and accounting are important for a business to claim tax benefits.

Why outsource accounting/bookkeeping to IMC

Outsourcing accounting services to IMC gives your business a competitive edge. There is also the advantage of having an expert opinion and a third party’s view of your accounting operations. Outsourced accounting services in Singapore has a lot of benefits for the business:

 

Things to Know Before Outsourcing Accounting Services in Singapore

  • Cost saving: Outsourced accounting services in Singapore is a lot more cost effective than appointing an executives. It is much more economical to outsource corporate accounting services in the long run rather than hiring executives.
  • Expert opinion: There is the availability of expert opinion at any time as the company’s accounts maintained by certified professionals, who are up to date with the accounting policies and rules.
  • Focus on core competencies of business: Outsourcing the accounting operations allows you to focus on core competencies of business that leads to expansion and growth of business.
  • Increased efficiency: You can check the true profitability of your business when you hire professional for your accounting services. They will provide only the accurate reports that will reflect true financial position of your business.

Services offered under accounting/bookkeeping

IMC provides the following corporate accounting services in Singapore:

 

  • Accounts and ledger maintainence
  • Cagh flows and budgeting
  • Bank reconcillations
  • Statutory accounting

  • Preparing financial statements

  • Filing of accounting reports in XBRL format

  • Preparation and filing of tax returns

  • Compiling Director’s report

  • Forensic accounting (analyzation of financial statements)

  • Calculation of the Estimated Chargeable Income as per the IRAS.

IMC is an accounting firm in Singapore providing the services of bookkeeping also.

 

  • Maintaining daily accounting records

  • Preparing bank reconciliation statements,

  • Preparing cash flow statements

  • Setting up budgeting controls

  • Monthly review of accounting reports

  • Reporting the financial status of the company to the management etc.

How IMC works with your company

IMC infuses itself with your company and functions as an employee of your business providing a double-edged advantage of expert opinion and correct compliance of the Statutory requirements. We will assign a dedicated account handler for your accounting and bookkeeping operations who will offer his expertise in the following areas:

 

  • They maintain a close relationship with your accounting team

  • Offer counsel on reporting and financial statements

  • Help in maintaining your day books and ledgers

  • Recommend the structure and the details of the financial reports in compliance with the Singapore Financial Reporting Standards (SFRS)

  • Monitor the filing of all statutory compliances.

We at IMC provide you the guarantee and the peace of mind to concentrate on your other areas of business. We provide the best bookkeeping services in Singapore for your company’s daily accounting needs.