Operating a company in Singapore comes with several regulatory obligations, primarily governed by the Companies Act. The Accounting and Corporate Regulatory Authority (ACRA) mandates various filings to ensure transparency and accountability. Understanding these requirements is crucial for all businesses, regardless of size, to maintain compliance and avoid penalties. General Requirements for Company Accounts [...]
For any business that buys or sells physical goods, inventory is one of the largest and most significant assets on the balance sheet. How you track and value this inventory has a direct impact on your company’s financial health and profitability. Proper inventory management accounting is not just a bookkeeping task; it's a critical business [...]
As a business grows, its initial structure may no longer be the best fit. For many successful sole proprietorships and partnerships in Singapore, the logical next step in their evolution is to convert to a private limited company (Pte Ltd). This transition is a significant milestone, offering a wealth of benefits that can protect owners [...]
A board meeting is the cornerstone of corporate governance, where critical decisions shaping a company's future are made. However, the effectiveness of these meetings hinges on one vital, yet often overlooked, tool: the board pack. A well-prepared board pack ensures that directors are informed, discussions are focused, and decisions are strategic. This is where the [...]
For any business, major transactions like a merger or acquisition (M&A), a significant fundraising round, or a substantial bank loan are pivotal moments. These events are almost always preceded by a rigorous process known as due diligence.During this intense period of scrutiny, your company's corporate secretary moves from a background compliance role to a central [...]
For any company in Singapore, establishing a corporate bank account is a fundamental step. It’s the bedrock of your financial operations, essential for managing payments, receiving revenue, and maintaining a clear separation between business and personal finances. While the process might seem as simple as filling out a few forms, it involves strict compliance and [...]
Every company incorporated in Singapore is legally required to have a registered office address within the country. This address serves as the official point of contact for all formal communications and notices. Understanding the requirements and options for your registered office is a crucial step in ensuring your company's compliance with Singaporean law. This guide [...]
In the complex landscape of mergers and acquisitions (M&A) in Singapore, various parties play crucial roles to ensure a smooth and legally compliant transaction. While lawyers, financial advisors, and accountants are often at the forefront, the corporate secretary holds a vital, albeit sometimes less visible, position throughout the M&A process. Their expertise in corporate governance [...]
The role of a corporate secretary has traditionally been associated with meticulous record-keeping, navigating complex legal documents, and ensuring strict adherence to statutory deadlines. While these core responsibilities remain vital, technology is rapidly transforming how corporate secretarial services are delivered and the value they bring to businesses in Singapore. The era of physical registers, stacks [...]
Singapore, a thriving business hub, presents numerous opportunities for growth. However, managing the administrative aspects of running a business, such as payroll processing, can be complex and time-consuming. For many companies, particularly Small and Medium Enterprises (SMEs), outsourcing payroll has become a strategic decision that offers significant benefits. Payroll involves more than just calculating salaries; [...]