Plant, property, and equipment (PPE) are also known as fixed assets and are used in the production process or supply of goods and services, administrative purposes, or any other activities in the business. The Singapore Financial Reporting Standards, FRS 16 – Property, Plant and Equipment allows business the accounts preparer to measure the value of […]
Category: Accounting
New IFRS 16 Leases now comes into play in Singapore
The significant changes in IFRS16 Lessees recently took place has change the entire landscape in the subject. Since 1 January 2019, the IFRS 16 Leases are in full effect and superseded the IAS’s 17 Leases, introducing a unprecedent way of accounting for leases in Singapore. The new Standard (Also see Accounting Standards in Singapore) require […]
Accounting – Impairment versus Depreciation of Fixed Assets
Impairment of an asset emerges when the fair value of an asset unexpectedly goes down below its value while depreciation is the decrease in the value of an asset gradually so what is the difference between the two? First of all, impairment can happen in wider asset classes than depreciation does. For instance, impairment can […]
Outsourcing Accounting and Payroll Functions
The business leaders as well as entrepreneurs are constantly aiming to enhance their company’ efficiency. In real life, they have an incredible wide range of doing so by employing among the accounting solutions for local business in Singapore. It permits them to run away the terrible stress the compliance-related jobs holding them back. Just a […]
10 Concerns You Need To Address Prior To Beginning Your Organisation
It appears like everybody desires to be a business owner these days. Beginning Your Service is seen as an attractive, extravagant way of life that offers the supreme liberty when it comes to the selection of career. You desire to end up being a business owner. Being a business owner is a great deal of […]
Planning Your Career Path As An Aspiring Accountant
Many people want to choose a career that will not only compliment their passions but also meet their needs. If you are considering accounting, you will probably have checked the box for passion for crunching numbers, and advising business leaders. However, the evaluation of an accounting career will not stop there. You’ll also most likely […]
5 Reasons You Should Outsource Your Accounting Service
In order to run a business, you have to look after a lot of areas along with watching over activities of your employees. It is not an easy task to run a business and managing finances could be harder. It is altogether a difficult task to manage finances on your own. It is the main […]
Why A Bookkeeper Is Necessary For A Successful Business
Most people want to do everything on their own while running a business. It is the main reason that their business suffers rather than flourishing. Even a small step has more significant consequences when it comes to companies. The business owners remain mostly involved in day-to-day handling activities and hence, could not focus on the […]
6 Essential Bookkeeping Tips For Small Businesses
Bookkeeping is the act of recording every transaction systematically. In the management of businesses, it helps the owner get an idea about every business transaction efficiently. It might sound a bit complex, but actually, it is not. There are certain things that you need to know before you take on the task of bookkeeping for […]
How To Organize Your Accounting Records In Singapore?
Organizing your accounting records could be time-consuming if it does not follow through a systematic approach. By doing it systematically, you’ll be able to save a lot of time when keeping your accounting records as well as give you a better understanding of your company’s performance. What’s more, it also helps in paying salaries smoothly, […]