Sustainability Reporting: Is it just for the big boys?

Sustainability Reporting: Is it just for the big boys?

Accounting
Sustainability reporting by large and multinational companies has become commonplace over the last decade but for smaller companies, becoming more sustainable can appear more expensive. Sustainability Reporting: Is it just for the big boys? Posted on July 16, 2019, by Fawziah Selamat, Sustainability Director Sustainability reporting by large and multinational companies has become commonplace over the last decade but for smaller companies, becoming more sustainable can appear more expensive. But are smaller companies really at a disadvantage when it comes to becoming more sustainable? With fewer resources and reduced leverage and economies of scale to choose sustainable partners or suppliers, it may appear that the odds are stacked against smaller businesses. But for companies wishing to move towards sustainability, committing to a sustainable- and socially-led approach can be easier for…
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5 Ways how Cloud Technology & BlockChain Can Help your Business

5 Ways how Cloud Technology & BlockChain Can Help your Business

Accounting, Uncategorized
Block chain and cloud technology have been a common buzz word in today's business context. These technology enablers has provided much disruption to how businesses operate and altered the fabric of how businesses grow. Keeping up with Block Chain and Cloud Technology for your Business Posted on August 10, 2018 by Stephan Yeong Block chain and cloud technology have been a common buzz word in today's business context. These technology enablers has provided much disruption to how businesses operate and altered the fabric of how businesses grow. So what are the implications of this technology and how can businesses tap onto this new wave of technology. In this article, we will share 5 tips as to how businesses can benefit with the use of block chain and cloud technology for your business.…
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Tax Evasion can put you in trouble

Tax Evasion can put you in trouble

Uncategorized
There were 243 cases investigated and this accounts for more than double compared to 2016. Tax evasion is a serious offence in Singapore, and in cases of serious tax crimes, IRAS performs on-premise raids and arrest on tax evaders. A total of 60 to 70 raids are carried out in a year.  Singapore Tax Authorities Recovered 35 million Posted on July 19, 2018 by Stephan Yeong In 2017, there were cases 243 cases investigated and this accounts for more than double compared to 2016. Tax evasion is a serious offence in Singapore, and in cases of serious tax crimes, IRAS performs on premise raids and arrest on tax evaders. A total of 60 to 70 raids are carried out in a year.  With the aid of data analytics, it is…
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Singapore 2018 SMEs Outlook

Singapore 2018 SMEs Outlook

Accounting
SME Outlook on Remainder of 2018 SMEs in Singapore Outlook and Trends SMEs in Singapore are the main driving force of the economy and contributes significantly to growth of the nation. According to the latest Government Budget Review, two thirds of the workforce in Singapore accounts for half of the GDP in Singapore. In the recent media release by Singapore Business Federation, there is optimism for SMEs in the remanding of 2018 especially in the F&B sector. In this article we will look at the overview industry performance outlook and the performance expectations of the various sectors from 2015 to 2018. The data is based on the collection over 3600 SMEs operating in Singapore during the period of April and May 2018. This article will cover 3 segments related to…
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Consolidation of Accounts for SMEs Singapore

Consolidation of Accounts for SMEs Singapore

Uncategorized
Practical guide on Consolidation - Singapore As businesses grow, many are involved in investment activities to grow or diversify their operations, this can include acquisition or setting up businesses and other entities. Forms of acquisition can be established in a myriad of ways and the focus in this guide is to touch on the more common options: - Parent Subsidiary Relationship - Setting up a Joint Arrangement or Joint Venture - Investment in Associates Steps on Consolidation Process To break it down, consolidation process can be look at 3 steps. Combine: Combining balance sheet items like assets, liabilities equity, income and cash flow between parent and subsidiaries. Offsetting: Remove the carrying amount on parent's investment in the subsidiaries and the parent equity holdings in each subsidiaries. Elimination: To remove all inter-company…
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Must know for Business Owners Operating in Singapore

Must know for Business Owners Operating in Singapore

Accounting
Must Know and Having your Accounts Done Right Posted on June 21, 2018 by Stephan Yeong Are you safe in terms of what is being reported for your business Quite frankly, if you do not have a finance or accounting background, it can be quite difficult to actually understand what is presented on the financial statements. But do you know that as business owner or director in Singapore, you are held responsible for what is being reported. And many times, what we hear from business owners are "we didn't know" or "we thought that our accountant were doing it correctly". But do you know what once you sign off on the Annual reports at the end of the year, it basically means that you are holding yourself responsible for what…
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