Yearly Reporting
Annual reports are intended to give shareholders and other interested people information about the company’s activities and financial performance. From these annual reports, key decision makers are able to focus in on areas of improvement for the company’s operations and also formulate strategic directions building on the company’s success.
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FAQs
You can initially outsource the company accounts to a 3rd party service provider.
Once the organisation is grown to a certain level, then you can appoint an in-house accountant. This is purely dependent on the decision of the business owner.
• Sales / Debtors Receivable reports
• Purchases / Creditors Payable reports
• Expenses report
• Cash flow report
• Financial statements (Balance Sheets & Profit and Loss a/c)
Every business must maintain proper books of accounts and records. IRAS may request for proof of documents, receipts, payments, Ledger copies etc., anytime within 5 years for Audit purpose. Every business must keep records for 5 years.
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