Brief History & Importance of Accounting

What is Accounting? Accounting varies in definition, from scholars to institutes. According to Investopedia, accounting may be established as all the recording work related to a business’ financial transactions. The accounting process may include analysing, summarising, and reporting of these transactions to tax collection agencies and regulators. The primary purpose of the accounting department is […]

Incorporating a Company in Singapore – Requirements

Here is a guide for the requirements before incorporating a company in Singapore as required by Accounting and Corporate Regulatory Authority (ACRA). Requirements include:  Company Type Shareholders Company Shares Appointing Key Personnel Registered Office Address Company Constitution Deciding on the Financial Year End 1. Company Type There are 4 types of companies as defined by […]

Accounting Services – Should You Outsource or Hire In-House?

Outsourcing is no longer a new practice in every industry and business. Outsourcing is the process of delegating specific operations or tasks to another company. One of the most common outsourced services in the business world is outsourced accounting. Situations where outsourcing your accounting services should be considered: #1 When you spend too much time […]