So that all stakeholders and shareholders can understand a company’s financial data, it must be consolidated and presented consistently. Accounting’s main job is to keep track of a business’s financial transactions, results, and cash flow and give information about them. Accounting standards help make sure that financial reports are consistent and correct. There are four main types of financial statements: income and expenses, balance and funds flow, and retained earnings. All interested parties, including shareholders, can judge a company’s progress because the reports are all the same. The financial statements must be truthful, reliable, and accurate.
Accounting records include:
All of these are required by the Income Tax Act. We offer professional accounting services at fair prices in Singapore. We also help local and international business owners understand how to incorporate in Singapore. If you use our accounting services, you’ll be able to see how your company’s money is doing as a whole. Experts will take care of your accounting and bookkeeping worries, giving you more time to focus on other parts of your business. If you can’t afford a full-time accountant, our monthly, quarterly, and semiannual budget accounting services in Singapore are a great alternative.